170 years ago today - Feb 1, 1842

[General] The Federal Bankruptcy Act, passed the preceding Aug, goes into effect. Six and one-half weeks later, on Apr 18, Joseph Smith and his brothers Hyrum and Samuel declare themselves insolvent before the county commissioner's court and file petitions to be certified bankrupt by the United States District Court for Illinois.

[Source: Advent Adam website (defunct) - based on http://amzn.to/originsofpower]