Page:Federal Reporter, 1st Series, Volume 5.djvu/732

 720, FEDBBAL EEPOBTEE. �bankrupt, but eo it does to extinguish the debts of ail the non-assenting creditors. These assenting creditors, when BufËcient in number and amount, by their assent extirpate ail the non-assenting debts. Where do they get the power to do this? Clearly, fromi the statute. The truth is, they are functionaries — quasi ministerial, quasi judicial, it may be — charged in part with the administration of the law, and, as such, the depositaries of certain powers, among which is that of determining when the bankrupt shall be discharged and when not. Hilliard on Bankruptcy, (2d Ed.) 239, 241. The law discharges the debts, the law performs the operation of releasing them, the creditors being merely donees of a power to determine the cases in which the law shall so operate. The legislature has left it to the discretion of the creditors whether they will or not assent to the discharge^ and this dis- cretion is absolute. Lord Eldon observes that the law bas left the bankrupt entirely to the caprice of his creditors to sign the certificate or not, under a high moral obligation, per- haps, but no legal obligation to do it, however great his atonement. And he says "there can be no stronger proof of the good nature and humanity of the British character than the readiness with which creditors sign." Ex parte Joseph, 18 Ves. 340; Ex parte King,ll Ves. 417; Ex parte Gardner, 1 Ves. & B. 45 ; Ex parte Cridland, 3 Ves. & B. 95, 103 ; Hilliard on Bankruptcy, (2d Ed.) 315, 316. The statute does not name a surviving partner as one of the donees of this power, but from necessity, and by ail the analogies of the law, it is faily inferable that it was intended he should be the donee, rather than innumerable and remote bene- ficiaries of the quasi trust he executes. The release is not without consideration, for the bankrupt law enlarges the remedies of the creditors, and gives them inquisitorial and other powers they would not otherwise enjoy. It also gives ample protection against fraudulent bankruptcies by with- holding a discharge in ail cases of misconduct by those who ask its relief. �Let the bankrupt be discharged. ����