Speech #530029883

I regard the power granted in the Constitution to provide for " unform laws with respect to bankruptcy" as part of a harmonious scheme. in which that power is interwoven with other powers granted under the Constitution. all of which were intended to be exercised and none of which were intended to be omitted. I find in the Federalist that Mr. Madison. in commenting upon this particular clause of the Constitution. haq grouped together a number of powers vested in the Federal Government by its organic law. as constituting by themselves a particular class. which he calls the third class. and which he enumerates as fallows: To regulate commerce among the several States and the Indian tribes. to coin money. regulate the value thereof. and of foreign coin. to provide for the punishment of counterfeiting the current coin and securities of the United States. to fix the standardof weights and measures. to establish a uniform rule of naturalization. and uniform laws of bankruptcy. to prescribe the manner in which the public acts. records. and judicial proceedings of each State shall be proved. and the effect they shall have in other States.Aind to establish postoffices and postroads. I believe it was the intention of the framers of the Constitution in creating the Federal system that every one of these separate powers should be exercised. so as to make one harmonious whole. one Federal structure so to speak. of power. and I call attention to what Mr. Madison further says in connection with this subject: The power of establishing uniform laws of bankruptcy is so intimately connected with the regulation of commerce and will prevent so many frauds where the parties or their property may lie or be removed to different States. that the expediency of it seems not likely to be drawn into question.