The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1867-07-31
VOL. III, E,

TEKMS, 3&sEER ANhuAs IN SohhENCi
Or ,RovIsfaNs = = :
PaSrsnt pequred inyariab'sin advance -
HssriaaeS notices, Funeral Inyieatiens, obitu=
: : asiess and Communications subserying private
inssseSts, ares charged Dis advertisements =
.:aaa Bankruptcy. ~
HOW n AFFECTS THE DEBTOR, THE
eREDlFeg5 AND TEE 4ssIGNEE-
An EASY W4F ToPAF OLD DEBTS.
There seems stoshe 8 general de-
sire for eompendious Information
In relation to ans Act approved ON
th9secona asE Of last March en-:
tstlea San 8et 10 sstabs sish a. uai;
form system of. Bankruptcy
throughout the United States $
Asa gereraiI thing psople2 2haSe as
little to do wit h ia VS. and those
who's gexeeutes .zand fsiRterpret.
fhesns as Rpossible s:ands its;soEne-
/ times happenss thas an Act which
IS Intended For the rehefs ;of
q large class of people fails stes ae.
coniDl lish TIE design iiat tended SIM
piF because the people are agne-
rant of It's intenls or do not know
how to proceed to take advantage
ef its-priyileges. hen Congress
passed the, Act est sahsiishifng q uni
form system o Bankfaptey
throughout the United States, st
was supposed that there sEas q
large class of men III the country
who rels.oFerba f&it debts
who would be glad to- get rfasef
them if soms- legal -wase- was proYi-
ded.. SO long as they. Were houad
TO tha rock Of nisfo orttans Prone,
THEUs-like, with a swarm Of eredi-
tors Ike Yalt1res feeding upon
their living, there Wauld be- neish-
er hope nor chance esa resessa biishs
ing q successful business, but #
some HERcuEas, ia The shape Of
Act Of gelgTess could XIII the
birds Of fprey. and deliver from the
pasinfs ffssl confinement, the man thus
relieved Wepld start even. with the
world enee more, laying anew the
found datiens for a. fortane The
felfo#ing familiar explanatiens OF
fhe,0Deration Of the new law. is
taken from the New York Gs5ette::.
.4HE RIGHTS aND AN DDiBT1Es.oF BllNk-
IS sssssspsa K RgPTs- s.
here are Two kinds Of bank
xnptey known TO laNye -polu1-
Saasy and iinFolnntasy "A debtor
may Be deelareda bankruab anthe
position of himself orof any eredi-
Tor. In either case4he must reside
: within the United States, and owe
debts from N ieFhs he may be dis
charged, exceeding three handed
dollars: lie the bankrupt is 9. pc,
htioner he is required 20 take The
oath of allegiance, otherwise mot.
Petitions BY the debtor himself
win sc the outset, 5s subJeet to
the discussion of the :authority. of
this par6sof the. law 'bat4 this@laeed
occasion no alarm, aad besides the
argpuneas cannot be aNaided BY a
srasortSto theSseeend method tzzn-
less She case presents some Of the
acts specified IN the law, as eRi-
deneee ofan intent TO- .defraad shis
creditors or avoid the payment of
his debts. Fla man .:is dishonest
and attempts to ayal himself of
the privileges. of Che Bankrupt law,
lie ought not So Be surprised to
fnd some iMcalties in being de
elared insolyent; but tfor-these
whe are willing to-giye up every
thing for the sake OF diseharging
the Old Obligations which rest. up
soHsshena, there is nothing to fear.
When these facts. or any OF
thern, exist, Of course without col
rlusion, as where ladebtor confesses
iudgmentsto one creditor and pro-
cures smother to petition against
hiimsslf on this fact-any creditor
may obtain an adjudication of
bankruptcy: against the debtor.
tits made a necessary pre-requi-
site to q discharge that the bank
rupt, being merchant OR trader,
shall keep proper. books efaccount;
he must submit to an examination
as to his business and some of his
g private affairs; he may be detained
within the district of his residence,
and he must allow his wife to be
examined as witness; =. .-..
= Amoag other disabilities which
the bankrupt has to consider are
the following He cannot, within
four months preceding the. fling
of his petition, lin contemplation
sor knowing Eof his insolvency,
give any legal lien ser transfer any
property to any CREDITOR who are
liable for him, having reasonable
cause to believe him bankrupt
nor within six months before the
fling ofshis petition can hetrans-
fer any property to any one, hav-
ing the same cause fol. belief, and
; that this transfer is intended to
save his property, for in either
case the assignee may recover tn"