A GENERAL BANKRUPT LAW.
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we publish to-day the petition oil a number
OF citizens Of New York presented to the
Senate on Tuesday by Mr.. Tallmadge, pray
ing the passage OF general bankrupt law.


1t Is from the pen Of Sllas M. Shlwell, Esq,
and presents the subject in clear and practi-
cal point Of view.


The important power expressly conferred
upon Congress by the Constitution /" TO estab'
lish uniform laws on the subject Of bankrupt
cles throughout the United States" has hther-
to almost wholly lain dormant.


The attention Of Congress might well be
drawn TO the subject at this time. The occa-
SION, when SO. many bankruptcies are taking
place under the general embarrassments of
trade and commerce, is peculiarly fit for the
exercise OF that parental power Of the federal
government, expressly conferred, which would
revive and stimulate the energies Of thousands
OF men struggling frui,lessly and almost hope
lessly under the severe operations of many OF
the laws relating TO debtor and creditor, and
bring back vast amount of business talent to
the circle Of trade. Besides, would it not
tend to elevate the morals of the people, by
making legal debts, after surrender of pro-
perty, honorary debts +? Would it not elevate
the character and animate the hopes Of debt
ors, by setting their hands free to begin again
they acquire the means