Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-02-27
PWEsTY-sIxTH CoNGREss-.-lst SESSION,
Monday, February "a, 1910.
in SENATE.

In the Senate, this morning, there were several Pc
titions presented, relating 70 the establishments OF a UNI.
form system of bankruptcy throughout the, United
States. Mr.. WEBSTER, in presenting one OF these
memorials, took occasion to give his views IN relation to
the necessity of such a law at this juncturc. lie la'd
down the following propositions as a basis Tor such a
measure, viz.
,ho, CONGRESS should exercise its constitutional power
Of establishing a uniform system of bankruptcy through
out the United States.
, Tina, i, should be made applicable to all persons
0hatever owing debts not less in amount than
dollars. who shall avow their insolvency., and by petition
10 the proper tribunal pray for the benefit OF the act.
These Shall be deemed voluntary tankrnpts.
3 That il, should arr'y compulsory to merchants and
traders. whose debts TO one or more creditors shall!
amount to n sum not less than uoiiaIS, anu " ~
have or shall fail, in business, or be apparently ihsoi-
vent, or unable to pay their debts. Such persons 10 De
deemed involuntary bankrupts, and to be subject TO tie
provisions of The act upon the petition of any creditor
or creditors whose debts together exceed tue sum OF
dollars.
~o,rrtnry or involuntary bankrupt 10 be emit
tied to a discharge VINO stall, in contemplation of bank
ruptcy, and intending to take the benefit Of the act,
knowingly give any preference, by any payment or
transfer of property, to any one or more OF his credl-
tors, TO the exclusion of his creditors generally.
5. Every bankrupt, surrenderlng all his property
and rights Of property for the benefit OF his creditors,
and conforming 10 all other acquisitions OF the act, shall
be entitled 10 a full discharge from all his debts, and
Nll Il 1tIlI0 u - fohi ~ HfOpN
tribunal. But if he is guilty of any fraud or conceal
nent in respect to his property, he shall not be emit
lied to any certificate; or, if granted, it shall be avoid
cd on proof of such fraud.
6. All creditors coming in and proving their debts
under the bankruptcy to be bona Gds debts, to share in
the bankrupt's proper and effects, pro rata, without any
preference or priority, except debts to the U. 5, which
are first to be paid.
:. The District and Circuit Courts to have concur
rent Jurisdiction in all matters Of bankruptcy, 10 be ex-
arcisad sun,marilv- and for this purpose. the said courts
10 be deemed always opened.
s. One commissioner only 10 he appointed in any one
case, 10 act in bankruptcy, on the proof OF debts, NC.
and one assignee only, 10 collect and administer the
bankrupts effects. The commissioner and assignee TO
he appointed in each case by the Court, and subject al,
III times TO its orders in all things touching their du-
tics, and the sale and distribution of the effects.
.. The proceedings in each case TO be finally closed
within Two Years from the time OF the bankruptcy, ex'
cspt as 10 matters which may be then pending IN law
or equity; hat the tendency of any such suit in law
or equity is no, to suspend the general proceedings IN
the case, nor postpone distribution and settlement, so
far as they can be made.
10. All suits by, against, or concerning bankrupts,
10 be brought within two years after thc bankruptcy,
and not afterwards, except on causes Of action which
shall not then have arisen. But all debts not payable
I'LL a future day may be proved in the bankruptcy, and
paid pro rata, with proper abatement for interest or
discount.
IL. ANY person proceeded against as an involuntary
bankrupt to be entitled, al his election, to trial BY Jury,
10 ascertain the fact of such bankruptcy.
~. No person 10 be entitled to a discharge who shall
be proved to have lost, within years before his
bankruptcy, by any gaming, waging, or betting OF any
KIND, whether at one or more times, the sum OF
dollars.
i3. The Circuit Court in each District to establish a
rate of fees for the officers of the Circuit Court and
District Court, in all cases in bankruptcy; and those
rates 10 be published.
IA. The act TO continue in force hive years, and until
the then next session OF CONGRESS.
Mr.. w. was followed by Mr.. BUCHANAN, Mr..
TALLMADGE, and Mr.. WALL, all friendly 10 that
treat object.
The Senate concurrcd in the amendments made by
the House Of Representatives to the census bill; ana
then adjourned.
Mr.. BUCHANAN offered the following resolution
sr the consideration of,lr Senate:
RGsofrcd, Tha. Il select committee be appointed Tor
the purpose of inGuiring INTO the expectancy of pro-
posing TO the States such an amendment to the Federal
Constitution rs will secure 4 large specie basis for the
circulation of the country, by prohibiting the issue and
Of bank notes, and other paper currency Of
denominations so low as to prevent the circulation of
gold and silver in the ordinary transactions of business
and in the payment of the wages of labor.
HOUSE OF REPRESENTATIVES,
The SPEAKER laid before the House the following
communications,
a letter from the Secretary of the Treasury, trans
n,ittinu a communication from the Commissioner of
the General Land Office in relation to certain Spanish
claims. ),
Also transmitting information called for on the 9th
inst, in relation to expenditures in the Territory OF
Wisconsin.
A letter from the Commissioner of the General Land
Office, communicating information called Tor oy ue
House on the 10th inst, touching the public lands in
Tennessee.
A letter from the First Comptroller of the Treasury,
transmitting a list Of balances standing on the books
the revenue, which have remained unsettled by col
lectors Of the customs and others, and which have been
nop than fbraa years DrIor to the SUtn september,
1899.
Mr.. CAMPBELL, Chairman of the Commute OF
asked the consent of the House TO oaer a re-
solution from that committee.
Objection being made by Dir. DAVIES, OF pennsyi-
vania-
MIR. C. moved to suspend the rules; which motion
,fer some %desultory conversation, was agreed 70 with
,ut q eoDnt /