The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1866-06-19
The BnnkruptcY BIII.


to the business interests of the whole
country, and directly bearing upon
early activity and prosperity, are now
before Congress. Both are in part, or
wholly demanded by the eSigencies of
an anomalous state of affairs, and both
receive more appreciation the more they
are discussed. Neither is without
strong and grounded opposition, tor, as
with almost all laws, some must suffer
where they may gain. These measures
are in no sort political, and should not
be considered as party measures If it
can be avoided. We refer to the pend
ing Bankruptcy bill and the revision of
the tariff
No section of the country is without
interest in the tariff, and consequently
in the current work of its revision. It
is one of the great and greatest ques-
tiOns involved in the legislation of the
day, and the decision to be reached re-
specting it is awaited with growing i'm
patience. While changes are proposed,
with possibility of adoption, those in
tereStS which are affected by these
so much back water in the general flow.
But ifthis is so respecting the tariff, it
is equally or more strongly the case
with regard to the Bankruptcy bill.
The bill has already passed the House
by considerable vote.
1t may not be complete in all of its
details as il now stands, and these err
rors of excess or deficiency the Senate
is expected to correct. The general
Judgment, however, as expressed in
Congress, by boards of commerce, and
the press of the country, pronounces
that all ordinary requirements have
been met by il, and that its careful di-
in t4T16 in tho HnIlEEa
has moulded il TO nearly the shape
which it ought to hold. So far as can
be done in such Il measure, the honest
but penniless debtor is freed, while the
dishonest is left to suffer. 1t comes now
very nearly TO the proposed end of all
bankrupt laws in giving assistance to
honest inSOlventS and Furnishing
knaves; while by its action the former
are allowed once more to recommence
their accumulation of means, and thus
the volume of trade is Quickened. 1t
discriminHtes very judiciOusly between
the several classes of Indebtedness, and
seems to yield most favor where the
most is needed. There is little left to
be considered now but the prime ques-
ton whether such a law is needed at all
and whether it is expedient. The gen.
eral feeling of the country, so far
as our means of information extend,
is in the affirmative on both OF
these points. HInere are nunler-
Gus exceptions, but the expression
most generally made is that the debts
swept away by the bill are those which
could never be collected by creditors,
while their continuance would etfectu-
ally repress the activity which may be
expected to compensate in large de-
gree for the inevitable losses. Those
who speak most strongly against the
enactment, generally seek ratEer to
postpone, than to prevent it-confessiug
in their plea the actual propriety of the
measure. If those who are to be most
unfavorably affected by the law are
those who most earnestly advocate it,
we may we'll believe that it ought to
and will pass The Senate, as it has pass
ed the House, and be put i'll early oper-
alton. The business character of Amer
Jeans favors such n bill as this more
than that of other nations. We are
rapid and energetic in our conduct
here, and when the old fence will no
longer answer its ends, tear it dow n
and construct a better; saving the losses
of delay and gaining all the advanta-
ges OF the original idea. Both the tar
III and the bankruptcy bills are natural
and legitimate successors of the disOr-
ganization and trouble of the last few
Ter considerations than heretofore, and
the reception given to them in their
proposed forms, in and out of Congress,
argues strongly that they will be great
help to that rehabilitation of business
which is the pressing need of the pc
riod.-PhitddeLphiG North AmeTtcdH.