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Governor Thomas Mifflin inspects debtors prison
Mifflin found out that debtors were without clothing and food while regular criminals were supplied with the basic needs of living. -
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New Yorkers imprisoned
By the year of 1816, at least 2,000 New Yorkers were impriosned in debtors prisons annually. -
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The Panic of 1819
Banks throughout the country failed causing mortgages to be foreclosed, forcing people out of thier homes and off of their farms. -
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Bankruptcy Bill of 1841
Bill allowed the debtors to declare voluntary bankruptcy allowing large numbers of them to gain financial relief. -
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Standardized Debt Collection Laws
More loans became secured and established the system of garnishment allowing for easier collection of small debts. This act led to the end of debtors prisons just before 1850.