New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1861-04-01


In one yesr."
Mr.. finch opposed the amendment Il sdort4'. ~
insolveut could ever be released from II h .,,I.,ie
The object Of the law s 70 give horesi sI,err he
opportunity 10 recover.
Mr.. Herman said the spirit Of The II ,lv.,, l. WAS
that debtor should be dischsrge from his liabilities
who had favored some Of tie e. e5i,or, The prorer
position for the Legislature 10 t ke was thai the debtor
rata, among Bic creditors. ~ Bene5j@ favored The
policy Of allowing pFeferen . OF Confidential creditors
IL IL common tning Tor en in financial difficulties
Fet a'u Hoin rehiVes or confidential friends in the
coed, sometimes not. II tbfy wee no, .silov; =:
save them. y ~ NV eti'' III 'ns' n'Aeh'
.bon rJ,r,g ~ W. Opposes TO the amendment although
yvss in Savor ~ .hH Pied in the bill TOO bref. he
r, sta.Tte les wing /; at tie time fSedi 10 the pres
s En-, two years The motion to strike on the
NJ <a". time was Loot.
ferrey moved TO strike out the whole sect on and
80 the matter as it now stands IN the Revised
. Statuies. His motion was lost.
Mr.. Dwight did not believe any act made applicable
70 debts heretofore contracted constitutional and
moved 10 add an amendment making this act appbea-
bic TO debts heretofore contracted.
Mr.. Finch said the object of the bill wac 70 benefit
all present honest debtors, and there possible
doubt Of cOnsttutionaliy as u wac only an amend
ment 10 existing statute that has existed snce 1918
and embodied new principle tha; could make 1t un-
constitutional.
Mr. bingham said that if the Law impaired existing
contracts the courts would declare II inoperuve IN
respect to existing contracts and the amendment was
therefore unnecessary.
Mr. Arcularius thought continuing men IN priton for
debt or keeping them ont Of business by the perpetual
pressure Of indebtedness the poorest way OF col
ieetine debts He in favor OF abolishing all laws
for the collection of debts and leaving the credit sys
tenn to depend on human worth and honor. he hoped
this bill would pass.
Mr. Rice thought that there at least room 10
doubt the fact of the unconsttutonaty Of this BILL and
was willing give the debtor the benefit OF tie doubt
Mr.. Herman was of the opinion that when tie two
thirds act pased IL was considered imperative 20
far az regarding existing contracts and that II was an
open question yet the cons,i'uonay OF this act
or the bill prepared 10 amend 1t. He not clear on
this point and would examine fully before TINS
bin was disposed Of.
of thousands of honest men who crushed by bis
fortunes beyond their control Much Of the best bns,
ness talent and energy Of the country wa thus crushed
out, and driven TO despair and run.
Mr. Pierce illustrated the policy OF preierrng cred
TORS and argued that sound policy demanded thai
debtors should be allowed to make the preference.
man in business fluids that he must fal unless come
friend will aid him with loan. That flend knowing
his condition. will not risk the loan unless preferred IN
cases of fixture. The loan does not save him, and he
is thus allowed to protect the who bad Thus tried
10 prevent the catastrophe. In many instances the
merchant is thus saved and without that plan failures
would be more frequent,
Mr. Herman moved to strike out the fifth section of
this BILL which s in fact the most important IN the
BILL 1t repeats section ten of article seven OF title one
chapter five Of part second OF the Revised statutes.
That section prohibits debts purchased by friends OF the
debtor from being included in the petition fof hs de
charge except at the amount paid for them As Tins
wonld prevent the most efectua remedy sought 10 oe
obtained bv this BILL the motion not allowed TO
prevail and the bill ordered to third reading. The
bill 40 amended s as follows;
AN ACT amend article third OF title Of chapter i've Of
part second ofthe Revised Statutes. entitled Ol voluntary
assignments made PURSUANT to the application OF an nsoen
and his CREDITOR also sIiele seven OF title one o. CnSlteI
provisions applicable proceedings under the several Preeed
ins articles, or sone Of them So,
A,senoiy, do enact az toioE::
FIVE pst Of tho Revised Statutes hereby amended
The petition for that purpose she'll be signed by him.
many Of his creditors resdg within ,h. United States have
debt; good faith owing them By such dsbt9r then due OF
all the debts owing by him to creditors residing within the
Sac Section 90 Of the article ia hereby amended
read follows shall appear on s1ch hesIips y the sS
tine one s,e % PeS.ap Ia.
charge Knowing Of s insolvency made any assignment she
tate esi or or Of any Interest therein
any o. vs ss 80 any ssdoI s . NOT b. EN-
titled TO disehsrge under thi. article, ,,
Section 30 Of the article IL hereby snended
fore whom such ,rsaiSn pending in cases where nc jury
ia justly and truly indebted to the petit ming creditors IN the
by respectively mentioned in their afdsyi.s that
such amount in the aggregate TO enc hth Of al the debts
owing by such inoyen, :. the time of presenting his
suck nIolyen, honestly and fairly given Of his
estate AID h. in oil Ting to bs matters BY
en shall be Peneas shall direct an A;.nnsnt Of al such In
remainder excepting from the articles mentioned in his in
yeo leh articles OF wearing apparel and bedding as In the
for suc in.oyent family and the and
required by law to be provided by citizen
SIC Section % Of the article hereby amended
follows Such ssnmen ha be made 20 the
pssens who shall have been nominsed assignee assign
the petitionns creditors o. BY such humber Of the said
stiBg the si,h, herein required.
D.s Two Of The Revi.od stasas. i hereby repealed
sEC The provisions Of this act sha sPpy to female nsol
.S bsye traded on their secount
shall be compelled testify under this act when her husband
Sc No eIscto administrator guardian. other per
setting in hdueiy relation snail be entitled to the benefits
SIC All act, and part. Of uconI,eni with the PrOvi
stems Of tb, act, are hereby repealed
Sac 9. Thi, act shall take sdect Immediately.
FREE TRADE RUN.
Mr. Benedict made strenuous effort to repeal that
section Of the Excise Law which allows imprisonment
for violation OF ts provisions AS the Nloaiors OF that
law as q class are well known 10 snap their fingers
metaphoriclly, at all attempts 10 collect lines by civil
process the elect Of this movement would be TO re-
move all legal restrictions on the traffic.
Mr.. Pierce moved as amendment TO repeal the
whole law of 1857. So far his observation could
extend the Excise Law had worked only evil and viii
ainy and was the disgrace OF all parties connected
With il.
Mr. Prendergast sustained Mr.. Benedicts position |
and opposed the amendment, dangerous movement,
cal uated TO bring upon all the evls OF an unre-
stricted traffic in liquor and open again the agitation
Of the prohbitory law, with all its excitement and
feeling.
The Committee of the Whole reported progress on
the BILL but rs il was reported 70 the House,
Mr. Preudergsst moved to discharge the Committee OF
the Whole from further considering the BILL and that
il be ordered 10 third reading. Mr. Pierce immedi-
stey renewed his amendment, and called for the Yeas