The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1842-12-22

.ams |. hereby repealed Prorided That TINS
ACT shall not affect any case or prooeeu"p
in bankruptcy already commenced, 90 when s"a
he commenced before the first day OF july neA', y,
spy pains penalties, forieures Prescripea in' anu
incurred or which shall be incurred under sa'o
act' n IA.
MIR. CUSHING was unwil ing to accept Oh .iio
amendment because il went far beyonl inc P's..so
specific object which he had IN view ahh acoo'ue
10 promise he renewed the call for the previous au
ton. II &c Il,
Tellers we're then ordered, who rePortea-oo III
the affirmative and "a IN the negative
So the demand for the previous question wa "o'
seconded r NJ
The question now REQUIRED on the motion Oh M ~,
Arnold TO strike from the amendment ProPosou "
MIR G. j. Ingersoll yes erday, the words "eAcIuu"S
voluntary applications ana banks (WHICH " "'
from the operation of the law
Mr. UNDERWOOD addressed the House ior
few moments and gave way 10
Mr. BARNARD who Withdrew ms motion TO
refer the bill 10 the Committee on the judi
dietary (tbe instructions which had been submitted
falling with ii and presented his amendment as
above stated and modified it 10y reducing the Tune
therein specified to the 18th of March, 1913.
Mr.. c. J. INGERSOLL moved to amend the
amendment, so TO add the words . Dot all oahhs
shall be hereafter included in the operation OF SAID
act.
Mr.. UNDERWOOD resumed his remarks AMI
expressed himself in favor Of repeating 30 much Oh
the law as relates to voluntary bankruptcy, and re-
tanning the involuntary principle This was the sub
nee OF the amendment offered by the gentleman fiom
Mr. Barnard) with the exception ofthe limitation
TO the 4th of March, which allowed voluntary bank
rups make applications from now until that 'lme
This was what the people bad condemned ana ne
wished get clear OF this part OF the pfo'iso leaving
it, however, TO apply 10 pains and penalties.
Several points OF order were raised anu sooSe-
quently,
hat Of Nlr md w.
ed that il be referred to the Committee on the
Judiciary, with instructions to bring IN bankrupt
law TO include banking corporations.
Mr.. HOPKINS wanted unqualified repeal Of
the law. He believed that this was the will of the
people and he called the friends OF the people to
take nothing but the unqualified repeal Of the law
He would vote against any bill which should have
incorporated in 1t any provisions like those oil the
gentleman from New York and the gentlema' from
Massachusetts. He could not say that he would even
for the bill introduced by the gentleman from
Vermont, (Mr. Everett) because he went for the in
slant unqualified repeal of the law
Mr.. BRIGGS moved to commit the bill to the
Committee the Judiciary, with instructions to re-
port bill TO repeal the parts of the existing law which
authorize the voluntary application of debtors, and
to include corporations which issue paper to circu-
late money within the operations Of said law
Mr.. CAVE JOHNSON, Of Tennessee, smoyed to
amend by striking out all the Instructions and insert
ing the following:
"That the committee be instructed to report at two
o'clock tomorrow, the following bill:
Be ii enacted by The Senate and House Of Repre- ena-
fires Of HE United STATES Of .8gerca in Congress
bied That the act entitled '!An act 10 establish a
uniform system of bankruptcy throughout the United
States" approved on the nineteenth day of August,
eighteen hundred and for,y-one, be, and the same
hereby is, repealed.
Mr.. JOHNSON said that this would bring them to
a vote on the question before the House.
Mr.. WISE contended that if the House intended
to repeal the BILL the accepted time-t ey
could TO the question to-day and could put the
bill for repeal in their FORM and there was no
occasion to commit It with Instructions He was OPP
posed to the amendment Of the gentleman from Penn
sylvania (Mr. C. J. IngersoD TO include banking
porations.
MIR. c. BROWN, Of Pennsy lvania, sad that if they
could pass law drive out all the ictiti Gus paper
the country would Immediately begin 10 revive, and
in few months would be on the road to prosperity
again.
Mr.. ARNOLD insisted that the law the best
of the extra session. any other and if permitted
to remain on the statute book for five years, he had
no hesitation in saying that it would become the most
popular law ed by Congress.
Mr.. SALTONSTALL obtainel the floor,
And the House adjourned.