Bankruptcy in United States History

Of great interest to bankruptcy attorneys and students of economics and history, this book contains amplifications of lectures given by the author at the Law School of Northwestern University. The author observes that periods of financial crisis and depression are accompanied by pressure on the Congress for bankruptcy legislation. The author explores the expansive possibilities of the Bankruptcy Clause of the Constitution as one of the more interesting features of the Constitution. Covered are the periods of 1789 to 1827, when relief was demanded only in the interest of the creditor; 1827 to 1861, when demanded only in the interest of the debtor; and 1861 to 1935, when demanded for the national interest in general.