BANKRUPT LAW--CASE OF OGDEN vs. SAUNDERS--DIFFICULTIES IN GEORGIA--COLONIAL TRADE--SPANISH CLAIMS.
AT the second session of the Nineteenth Congress, which commenced in December, 1826, Mr. Webster, as chairman of the Judiciary Committee of the House, reported a bill for the establishment of a uniform system of bankruptcy, which he had founded on a bill received from the Senate at the last session, and into which he had also very carefully incorporated such provisions of the recent English bankrupt law as were applicable in this country. At this precise time, the condition of the question, as to State laws of insolvency discharging debtors from their contracts, was, that the Supreme Court of the United States had already decided that such laws are constitutionally invalid to discharge contracts made before their passage; but the question in relation to their effect on contracts made after their enactment was now pending in that court, and was expected to be argued at its approaching session. Mr. Webster said, however, that, whatever might be the decision of this question, it would not deter him from laboring to obtain the adoption of a national system of bankruptcy. The Constitution having given to Congress power to regulate this subject, he was always of opinion that there should be a standing bankrupt law, to operate uniformly throughout the country. His bill was read a second time, and referred to a Committee of the Whole, but it was not acted upon.