MANUSCRIPT DOCUMENT - BANKRUPTCY OF MARK HEALEY, BOSTON MERCHANT

[Bankruptcy Act of August 19, 1841].

Published by Manuscript, 1843

About this Item

First of its kind, The Bankruptcy Act of 1841, passed in response to the Panic of 1837, for the first time allowing insolvent debtors, both merchants and non-merchants, to voluntarily commence bankruptcy proceedings. The 1841 Act led to over 33,000 bankruptcy filings in the short time it was in operation and swelled district court dockets. The law was highly sympathetic to debtors and increased their opportunities to discharge debts, leading to much criticism of the law and ultimately its repeal, March 3d. 1843. [Federal Judicial Center]. Although the document is dated December 4th and 19th, 1843, the petition for bankruptcy was filed on January 25th, 1843, less than 5 weeks before the act was repealed. Single lined folio sheet, folded (16 ½ x 10 ½ inches). Entirely in manuscript on recto and verso, signed and sealed by Augustus H. Fiske, witnessed by Edward L. Rand? Docketing by Tho' Bulfinch, Justice of the Peace and signed by Henry Alline Registrar of Deeds, Suffolk County. Creased at folds, minor wear, in fine condition. Incidentally, Henry Alline's grandfather, also named Henry Alline (1736-1804), was elected registrar of Suffolk County in 1791. His son, William Alline (1770-1821) succeeded him as registrar in 1796, a position he held until his son, Henry (the signer of this document) replaced him as registrar in 1821, a seat he held until 1860. The 1841 act was the first law to provide for voluntary as well as involuntary bankruptcy, and it covered all individual debtors, not just merchants and traders. The debates over federal bankruptcy law continued, and it was not until 1898 that Congress finally enacted a bankruptcy law that lasted. Augustus Henry Fiske (1805 - 1865), was a Harvard graduate and a well-known successful lawyer from Boston. His father, Isaac Fiske, was also a Harvard graduate and lawyer, who practiced in Weston, Massachusetts for over 30 years. Mark Healey (1791-1876) was a wealthy banker, merchant, railroad director and investor. Originally from Kensington, N.H., he settled in Boston and had great success in business until the Panic of 1837 which wiped out his fortune, forcing him into bankruptcy. The industrious Healey, however, reclaimed his fortune and owned several properties at the time of his death. His daughter and close confidant was Caroline Wells Healey Dall (1822-1912), a prominent women's rights activist and author. [Bankruptcy - United States]. Seller Inventory # 003525

Bibliographic Details

Title: MANUSCRIPT DOCUMENT - BANKRUPTCY OF MARK ...

Publisher: Manuscript

Publication Date: 1843

Binding: No Binding

Condition: Fine