Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1863-01-10

business Appearances and OF fraudulent business peteDces
by Rhch preerent assgnms nts given to fVore ere
dtos to the robbery of the remainder The trainers Of
the Constitution conferred upon Congress the pawer TO
pass uniform system oil bankruptcy; aud that particular
provision OF the Constitution adopted by vote Of
States Of Congress, therefore had the power
and they were reponsbie for the exercise Of H. There
at the certain considerations applicable to our
condition which demands bankrupt law assuming
that in ordinary times it Objectionable and that even
now adopted 1t would be temporary only There are at
the present time overlapping and oyermaserng consdera
ton which demand that the power of Congress should DO
exercised for the benefit Of the loyal creditors, among
others OF the country into whose hands IL would put po
tent Tor good There are two hundred millions OF
dollars due by in against the Government TO The
loyal czens OF the North When the rebellion broke out
all enterprise and all ventures inmidatfd and fright
ened and hence not only the actually struck by the
effects of secession but other prevented and
deferred from all enterprise and thrown back into that
weakness and poverty, and that commercial inability and
paralysis which had upon the country 1857 and
from which it was then recovering.
Ii objected that the rebel creditors would escape,
but those who made that objection overlooked the prov
enemies of the excluded from its benefits
and subject to its compulsory provisions The bill will
the creditors ct the country with process which Will
override the traorous proceedings of individuals and Of
State courts and enable the loyal creditors to seek
proper remedy against his fraudulent debtors The oppor
uny presented itself to the House to give to the
loyal creditor process which will enable hun to go as
fast the army go into the domains of the reb and
lay hold of the property of those who audulenty abstract
ed from the North untold millions by forging false money
In that crucibe called debt The bill guarded against the
escape of raudent debtors enabled the creditor to apply
the test Of soundness to all traders whose crcum tances
become embarrassed and prevent this system Of preeren
a assignments by which such frequent and gross frauds
committed The bill is guarded to debar from
the benefit Of its voluntary provisions all outlaws while its
compulsory provisions broad enough to aim at all
debtors rebels not all the process necessary to ensure
the end desired
MIR. LOVEJOY expressed come objections to the bill.
Mr. THOMAS said that this not the time to pass a
bill of this kind required time for consideration
than could be given to tho questions II was true
that the English bankrupt law perfect
could be devised but tis the result Of much careful
consideration The bankruptaw of l64 the contrary
was i'll considered and very loosely drawn up and was
entirely for the benefit of the debtor aud opposed
To the interest of the creditor He in favor of the
poetponement Of the measure
Messrs. KELLY, HUTCHiNS, and WALKER,
briefly supported the bill.
Mr. KELLOGG moved to lay il on the table which
rejected--yeas So nays Co.
On motion Of Mr.. CONKLING, the bill was made
special order for Thursday week
Mr.. HOOPER introduced bill to provide for q ma
tonal currency secured By the issue of United States
stock also to provide for the circulation and redemption
thereof Referred to the COMMITTEE on Ways and Means
The House then adjourned