Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1841-08-24
,r,om The baltimore P atriot.l
sl1r RANKRUPT BILL

4
,,,tbe purpose of bringing the prin-
sarovisions Of this bill within
4 compass, and to facilitate an ex-
.,6on Of il, we have, with some
u, prepared the following synopsis
7, Verbal accounts are Uniayora-
= is receiving the attention of the
~ branch OF Congress, at the pres
s,sssioh.
I;selion 1, enacts that a uniform
.,.m Of bankruptcy be established
-.srhout the United States 4; and
,s,il persons owing debts, who shall.
,oeotion, setting forth a list of his or
!, creditors, the amount due each
esther with an inventory of his ar
W property Of any kind, verified bv
,b.apply TO their proper court for The
..oe6I OF this act, shall be deemed
,osrpts, aud may be declared 50 bv
lecee Of such court. AN persons
lor merchants or retailers of mer-
Lndize, all BANKERS, factors, brokers.
bswriIers, or marine insurers. ow-
debts TO the amount of less than
loo, shall be LIABLE to become bank
Is, aud may upon petition of one or,
be Of their creditors to whom they
|. not less than $500, be so declar-
in the following cases to wit: when.
lr each debtor shall departthe State
(which he is an inhabitant, with an
M 10 delraud his creditors; or shall
JCcure himself to be arrested or have
I, goods, sc. taken in execution; or
rail- remove his goods, sc. or conceal
lem, to prevent their being levied on;
4 make any fraudulent assignments or
se ofhis lands, goods, sc. PROM
ID, holCeUer, any person SO declared a
snEupt at the instance Of a creditor,
nav by petition to such court have a
nal by jury to ascertain the fact OF
och bankruptcy.
Section 2, enacts that all future
nyments, conveyances, &c, made in
Of bankruptcy, or for the
ApOse Of giving any creditor an un-
he preference, or any such payment
q conveyance 10 any person not a
creditor, for a valuable consideration,
without notice, shall be deemed void
nd fraud upon this act, and the as.
Gnee under the bankrutcy shall bC
.added to claim and sue for the same'
mdthe person making such Uulawfu
references shall receive no discharge
And ifit shall be made 70 appear 1,
the court, that, in the case ofa velEn
cry bankrupt, be has at anJ~timc -gis
n or secured any preference Of on
creditor over another, in contemplation
oftbe passage Of a bankrupt law, b
shall not receive a discharge, umes
Hsened to by a majority in interes
Of those Of his creditors not preferred
Nothing in this act shall in any wa
impair the rights Of married women G
minors, or any liens, mortgages, &c
which may be valid by the laws Of III
Safes respectively, and not inconsi'
cent with the second and fifth section
dihisa act
Section 3. All property Of ever
description, Of every person declare
bankrupt, except as is hereinalt'
provided, shall be ipsO Jctcto diveste
out Of the bankrupt, and the san
shall be vested 10 such assignee as shs
be appointed by the court; suils pen'
lag BY the bankrupt shall be continue
by the assignee, and no SUIT by
ngainstan assignee shall abate oy dea'
Of said assignee. There shall be e
cepted from the provisions OF this Sc
ZION, such necessary household az
kitchen furniture OF the bankrupt,
The assignee shall designate, havIl
reference in the amount to the iaml
md condition OF the bankrupt, but
10 case 10 exceed in value $500, al
also the necessary wearing appeal;
exception being taken to the det'
nination Of the assignee, the matter
DO decided by the court.
Section A. Every bankrupt, W
shall comply faithfully with the prov
ions Of this act, shall (unless a may
ig in number and value Of his ere
Tors who have proved their debts sh
GIelhtir written dissent thereto) be
titled to full discharge from all
debts, and a certificate thereof gram
him; such certificate, however nor
begranied until alter ninety Gays -
the decree Of bankruptcy, nor y
seventy days notice is givento all or
itos and persons interested 10 aPP
and shew cause why such cert,lc
Should ~, - Granted. Such ba
upt shall, at all times, De snoJsos
ra.an#H
examination, orally or upon wrl''en
hrogatories, before such court
oath in an matters relating 70 s.
bankruptcy, which are necessary !.
the purpose ofjustice. Il IN any !
Ofbankruptcy, a majority n pun I
and value, of the creditors who ;
have proved their debts, shall a.
time Of hearing Of the petition lot :. J
charge, file their written dissent !.
allowance Of a discharge shall no.