The Bankrupt Law of the United States, Passed August 19, 1841...

1841. Philadelphia, 1841.. Philadelphia, 1841. An Introduction to the Then-Recent Second Federal Bankruptcy Law [Bankruptcy]. [United States]. A Member of the Bar. The Bankrupt Law of the United States, Passed August 19, 1841. With a Commentary Containing a Full Explanation of the Law of Bankruptcy, And Ample References to English and American Authorites [sic], Prepared for Popular and Professional Use. Philadelphia: Orrin Rogers, No. 67 South Second Street [et al.], 1841. 48 pp. Octavo (8-3/4" x 5-1/4"; 22.2 x 13.3 cm). Disbound stab-stitched pamphlet. Moderate toning, light soiling to exterior, staining along fore-edge of title page, corner folds to first few leaves, edgewear and damage to upper-outside corners of final few leaves, text not affected. A good copy of a scarce pamphlet. $350. * Enacted in 1800 with a slim majority, the first Federal bankruptcy act aimed to encourage economic risk and supersede the patchwork of debtor laws in force in the different states. Never a popular law, it was repealed in 1803. Claiming this would stifle economic development, supporters of the defeated bill launched a campaign to restore the law or enact a similar one. Their numbers increased after the Panic of 1837 and the five-year depression that followed. Their efforts reached fruition in the General Bankrupt Law of 1841. Almost as unpopular as its 1801 predecessor, however, it was repealed in 1843. This pamphlet provides the text of the Act and detailed explanatory notes of its provisions by an anonymous "Member of the Bar." Particular attention is given to voluntary bankruptcy, a category that didn't exist in the prior act. OCLC locates copies in 3 North American law libraries (Duke, Harvard, Yale). Cohen, Bibliography of Early American Law 2466.