The Fairfield herald. [volume] (Winnsboro, S.C.) 1849-1876, 1868-07-15
COST Of BankrnptcY,

The operations Of the Bankrupt act, 80 far
as relates TO the admission Of persons to the
| benefits thereof having virtually ceased on
he last day Of last month, says the Charles.
ton Mercury, il becomes q matter Of intcrcs
TO inquire how many persons have become
voluntary bankrupts and what has been the
amount lost to both debtors and creditors,
by being absc y cd in the costs of tho pro
occdings.
BY reference to tho records of The District
Court Of the United States for South Carroll
na, it will be found that the entire number
of petitions filed Involuntary bankruptcy in
this State is SIS. This is not SO large a
number by great deal, as might have hecn
materially expected, when it is rccollcctcd
that the benefits OF the act are not confined
to persons who arc technically speaking
"tradcrs.' but are open to the whole com
munity alike, to lawyers, doctors, farmers
and mechanics, rs well as to merchants
and when the wide spread dcsol,tion and
ruin Of the war arc considered. Small as
the number is, however, the expense is cnoT
! NOUS
The orc many incidental expenses, cs.
pccnlly creditors expenses, Of which no
estimate can be made, but the following
estimate Of the costs whic, the bankrupt
4 himself ncurs may be regarded rs n far
average: l. Counsel fec, S75. 2. Clerk $
costs, so. B. Marshals costs, $40. 4.
Registrars costs, $40. Total expense of
the suit, $l4l. Multiply this by TIC nun,
bcr of cases and VIC have Sl02, ll2 as the
| actual court expenses Of the bankrupls
alone. y very comfortable fortune to be
divided out between some people, The
largest item, $63,G00 for law Jers' fees is of
course very much scattered. The other
items however scttlc very comfortably upon
certain individuals. The clerks costs,
SI632, goall to ono man. The same with
the marshars costs, $4,000. 9hc regis
tran $ costs, $4,000, arc divided between
four persons, IL is estimated that about
onc-third Of this amount, or Sll,300, falls
into the hands of the Registrar for Charles
ton District, this district doing moro bust
ness thnn any Of the others. In addition to
these fine pckings, the registrars receive a
dollar for each account proved before them,
and as the number of these will probably
average ut least twenty to case, We have
$lG.9G0..moro to divide between these I'm
fortunate four. The clerk and The marshal
are provided with a very comfortable living
from the regular business of tho court, and
this small count Of thousands in bankruptcy
jury falls in to supply them with pocket
money
The judge, the most important officer Of
the whole court receives salary of $4,000
and if tho registrars, tho clerk and the
marshal were salaries Ill proportion, Sl50(
or $4,000 would be m ample remuncra alton
for their services. IT., as is proposed, the
Bankrupt act is indefinitely continued, Con
grcss should establish separate bankrupt
courts. with fixed and reasonable salaric:
for oil tho officers. In fact it would be
measure of wise economy to abolish all fee
in government Offices of every kind, ant
substitute f&ea salaries. If officers were I,
receive only reasonable salaries out of tn
4 fees, and the balance be applied to tho M
tional debt, it would not teke long 10 re
move that circumference.
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