Note 7 — EIGHTH CONGRESS.—FIRST SESSION. PROCEEDINGS AND DEBATES IN THE HOUSE OF REPRESENTATIVES. (continued 2)

At the time of passing the second bankrupt act in 1841—that is to say, after the lapse of forty years—it was shown that there was still property of bankrupts in the hands of assignees, the estate being so administered as to pay expenses, yielding nothing to the creditors, and leaving nothing to the debtors.