, 1862-04-12

9
Tho BANKRUPTCY BIZ.
From our own Cofrcspandent7
WAHHNGTos, April S, 1852.
The condscation bill is again the main topic
of interest. Judge Trumbulrs speech yes
terday in reply to Cowan, Browning, McDou-
gal and Car1ile, carried conviction to the heart
OF more than one Senator whe had been hith-
erto doubtful and undecided. Garrett Davis
was an attentive listener, and when Judge T.
declared that the casc Of Luther vs. Borden,
in the U. s. Supreme Court, which had been
quoted against him, was really IN authority in
favor Of the bill, Mr. Davis remarked soto
fpce, that's co." Mr- Cowan's argument
against confiscation WAS chiefly directed to
the alleged impozicy Of the measure, but the
rebels themselves, 20 far as their opinions can
be ascertained. deem it the most telling blow
that could be dealt them. And surely their
fears are well gounaed, because it proposes q
practical amnesty for the past to all except
the leaders Of the revolt, and fixes coudieu
and certain punishment upon all who shall
continue in the work Of treason.
Our victories during the past three months
have shown the Southern people tho proba.
biity that their territory will be finally
brought back within the jurisdiction of the
United States. They can perceive that it is
| not unlikely that the coniscation will be
practically enforced, and hence their only
method Of escape will be to desist at once
from rebellious acts. 1t will be for them IN
Eay whether their plantations shall become
the property Of the United States, and them
selves ireduceds to poverty, or not, IF the
blow falls upon them it will be because their
madness continues. 4 more potent apnnrv
1or ousting the devil out Of them cannot Be
conceived.
The object Of yallandighan's unhnrmoni-
Gus CAUCUS was to devise schemes by which
the war might be protracted without YerY
much harm to the rebels till the tax-gatherer
shal! commence cleaning in the loYai States
at which time VaIlandigham d Co. intend to
raise cry for Peace and Reconstruction. The
pas1su the proposed peace. will be general
and loyal citizens to pay the costs Of the war
Their candidate for the Presidency will be thc
most pro-slaVery general Of the lot, If il can
Be determined which one answers to that de-
scriptton- They may be driven to taking q
candidate from the South.
The new article Of WEI has been promuIga.
ted in regular form to- the army. The eenius
OF certain officers is nov exercised in deyisinp
ways to eVade it, The passion for catching
negroes and sending them back to rebel mas.
ters Is with them something like the craving
OF IN inebrtate Tor strong drink. The sight
or smell Of fugitive sets their veins culver
ing with eage1ness to clutch him. Yet they
dare not openly violate the new article. The
penalty Tor such violation is instant dismissal
from the service. Much as they love to hunt
down the negro and send him back to be en-
ployed against the Union, they love their
emouments also, and innsmuch as they can
not Wholly forego either, their wits are at
Tork IN finding methods to violate the Law in
fact but not in form. The discreditahIc and
murderous scene in Gen. Hooker's division
ie# days since Fas q case in point, and even
more a1seTedltaole and more murderous
scenes IN Missouri have been brought to the
notice OF the War Department. It is proba-
bic that further legislation will be had on this
subject, and it is desirable that it should be
put IN shape at once.
Gen; Hunters arrival at Port Royal encour-
ages the hope that something will be done at
last with the army which Gen. Sherman term
ed the "expeditiona1y corps" Tie CORDS
did indeed make an expedition by sea, but it
has never made any by land. The forces at
zen. Hunters command are quite meagre for
the work he intends to do, but he will not
Of inertia, malaria and old age. Sherman has
given the enemy every opportunity to fortify
and hem our soldiers in for an early encoun-
ter with yellow fever. When this form Of
danger presents Itself, Gen. Hunter Will un-
doubtedly put arms in the hands Of the eman-
cipated slaves, and after educating them to
the duty Of soldiers, place them at the posts
threatened By disease more formidable to
the white MN than all the bayouets and bat
terles In JeHdom- In anticipation of the ex-
treme hot weather. Gen. Hunter Will have
quarters prepared for himself in Forts sum
ter and Pulaski; and q spacious apartment in
the former will be fitted up for Gen Robert
Anderson, who has always expressed fond
ness for the locality.
The Senate had g long Executive session
hold all further coafirmatioas Of MaIor and u,1t
bngad1er Generals except as rewards of gal
lantry and efficiency in the field II this policy
Is agreed to, the generals appointed during
THIS session will remain without commissions,
snd those appointed during the recess (that
is, between August 8 and December 2, 1861,
and not acted On, wiu fall to the Ground II
the end Of this session.
Ihe bankrupt bill is now coming forward as
an apocalypse to the var. It Is too early vet,
and the measure has enjoyed too little atten-
laon, TO enable US to form an opinion as to the
eastern mercantile classes are its principal nd
vocates, and there are many in favor Of It who
are tree from debt and who do not desire to
take the benefit Of it themselves. They be-
lieTe that it's passage would revive business by
enabling Thousands Of cntupriEine pcraons to
03A~H AAN4A41oA1ASSEu 08 LIE 1910 OF
past debts, and that thus the wheels of trade
would begin to revolvc in the old way. There
Is q course, much to be said on both sides
OF The question. It seems hardly fair, how
eTer, to extend he..priy1eges Of the act to cor
porations as well as individuals, as the SD sec.
ton Of Mr.. Conkling's bill proposes. Banks:aud
1allIpads are excluded, but all chartered, man
utacturiDg, transportation, and other com.
panies are allowed to "clear'' in the same
manner as Individuals, Notwithstanding their
With the express provision and condition that
the stockholders shall be individually liable
to certain extent for the debts Of their re-
spectiyc companies. The bill would enable
many corporations to 60 through bankruptcy,
quite, lengthy and complicated, covering no
less than IS quarto pages.