The south-western. [volume] (Shreveport, La.) 1852-1870, 1866-06-20
The Rankrnnt Bill.

The Mississippi Clarion and Standard says the law
on this subject, which recently passed the house o.
representatives establishes uniform proceedings Tor
in all the States and constitutes the DIS
triet courts Of the United States courts Of bank
ruptcy. Our contemporary further adds, that ANY
person within the jurisdiction of the United States,
owing debts of three hundred dollars shall apply by
petition to the Judges of bis judicial district, setting
out his inability to pay his debts in full, and his will
ngness to surrender his estate for the benefit of his
creditors The filing of such petition shallbe an act
of bankruptcy and such petitioner shall be adjudged
a bankrupt. warrant shall then be issued by the
Judge directing the marshal of the district to take pos
session of the estate and keep the same until the
appointment Of an assignee. Notice is then to be
given to the creditors to hold meeting and choose
ore OF more assignces
CAN creditors whose debts duly approved and
allowed, are to be entitled to a share in the bankrupt
property pro rata without any priority preference
whatever except that wages due from him to any ope-
rative, clerk or house servant to amount not ex-
ceedng fifty dollars for labor performed within six
months next preceding the adjudication of bankruptcy
shall be entitled to priority and shall be first paid in
full. In the order for divided the following claims
are to be entitled priority of preference and TO be
frst paid in full il the following order: lst Fees
costs and expenses Of suit and for the custody Of
property 3D. All debts due to the United States, and
all taxes and assessments under the laws thereof 3D..
All debts due to the State III which the proceedings in
bankruptcy are pending and all taxes and assessments
made under the laws Of such State.
Ceases of involuntary bankruptcy are provided for
in the following cases"
departure from the State avoiding the service of
legal process removal or concealment of property,
arrest and detention for debt for period Of
days confession of judgment, or suspension of pay
ment of commercial paper for fourteen days. shall be
deemed an act of bankruptcy.
Penalties are provided against bankrups for conceal
ment of property classifying books Or papers, fraudu-
lent assignment conveyance of property, spending
I in gaming, permitting fictitious debt to be proved
against him. obtaining goods credit fraudulently
! within three months of the commencement OF pro
eeedings in bankruptcy. These to be deemed
misdemeanOrs and punished by imprisonment, with or
without hard labor, for a term not exceeding three
years.
/ eve think such a law demanded as much for the
interest Of creditors debtors There thousands
Of honest men who, if they relieved by judi
cous bankrupt law, would by their energy accumulate
property and eventually pay their debts We not
:
senate but think It very probable that in shape
or other will become Law In the meantime, rapa
cious creditors who struggling for judgments with
sew Of coercng principal, accumulated interest and
costs from those who unfortunate to be in
debt will consult their interest by endearoring to
compromise with all except those who undoubt
cdy solvent In cndeavoring to collect the whole Of
their debts, they may be able to realise only very
! small part
"The dividends obtained in bankrupt cases will be
SMALL while the court gives the debtor discharge that
will be conclusive on all creditors"
The Missouri TEST oArH-Statsne,t of Senator
/ yohason-The Washington correspondent of the St
Louis Republican, dispatchng under date of the Isl
instant has the following in relation to the decision
the United States supreme court on the Missouri test
oath
/ Representative Hogan, OF Missouri, addressed let
ter Yesterday to senator Reverdy Johnson, asking
him what was his knowledge regarding the decision Of
the United States supreme court in the Missouri test
I oath case. Senator Johnson replies as follows:
1.-THE main question in the case of Garesche and
! Cummings to which you refer, whether the test
oath required by the constitution Of Missouri
stitutional On the part of those gentlemen, my
ciae, David Dudley Field, of New York and myself,
maintained that it not because Of the provision in
the tenth section Of the first article of the constu
ticn Of the United States, that mo State shall pass
any bill of attainder post tacto law To this
conclusion majority Of the court came as was vel
known few days before tile close Of the term. i
was always known, certainly was known to me, that
the failure TO the decision was not because
any one of the Judges constituting the majority Their
doubted upon the question; but suppose that it
mainly owing to the fact that the judge selected tC
deliver the opinion had not time before the close
the term to prepare such one the Importance anG
gravity of the question required. That this will be
done during the recess, and that it will be delivered
during the next term, have no doubt"
! GERR1rr SMITH TO CHIEF JUSTICE CnAsE.-Gerrit
Smith writes to chief justice Chase against any trial
Davis, and against calling popular uprising treason
He concludes org letter follows:
[ have said that we must deal with the south in th
spirit of impartial justice. We must also deal viii
he in the spirit Of great generosity and great love
We must claim no indemnity for the past We mus
exact no unnecessary security for the future. w
must subject her to no charges and no disabite
which are not indispensable. If the breaking up 0
her large landed estates to parcel them out to he
white and black poor is not demanded by her people
nc must not insist upon it. IT. by putting the ballc
in the hands Of her blacks it will not be necessary
in order to save her to withhold it for froT
her whites who involved in the guilt Of the wal
then are they strong reasons why should rot insis
9 upon the probation. One thing moro, the south
pcor and the north is still rich. Would it be too arg
az expression Of fraterna love to the south to
some five or ten years from the imposition Of direC
national tax?
TIE PREsIDxT's PRocLAMArIoN on THE FEHIANs.-
Oh the 9th instant the president issued the folowin
important proclamation
Whereas, It has become known to me that eel
tain evil disposed persons have within the urisdctio