The Emergence of Bankruptcy
In the wake of the Panics of 1837 and 1839, Congress sent the White House a new bill to be signed into law: The Bankruptcy Act of 1841. See Daniel Walker Howe, What Hath God Wrought: Transformation of America, 1815-1848, 593. From then on, bankruptcy would be part of American life, providing an option for when debts become […]
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