New-York tribune., 1871-12-19
EVILS OF TIE BANKRUPTCY Law.

BANKRUPTCY LEGISLATION IN TUE UNITED
| sTATES-MERITs AND DEMERlTs OF THE
PRESENT ACr-POINTs THAT REQUIRE
AMENDING-A PROPOSED ATTEMPT TO In
CREASE THE REGISTERS FEES.
A secret meeting by the Registers in Bank
ruptcy Is proposed for the purpose Of enecting an
increase In their fees and In tho salaries Of the officers
attached to tho Bankruptcy Court. They to meet
in secret session, by delegates, at Washington, about
tho 2oth inst, to consider the proprety Of urging
upon Congress- the passage Of act which shall create
an enlargement Of their powers to bring under
their purview tho supplementary proceedingss which
in cases Of bankruptcy now brought before the
United States Judges and for which the latter re-
ceive no additional compensation. There is doubt
but that the law should be modified to permit
registers to adjudcate upon these matters; but for
this additional labor the registers propose to ask for
additional fees, in comparison with which tho present
| changes are insignificant Tho registers are ap-
pointed by the Chief-Justioe. and the ap-
| pontments confirmed by the District
Judge Of the district in which the registers ociatc.
The Chief Justice appoints according TO the recommen-
datons Of the several Congressman and az the registers
thus virtually the appontecs Of the Congressman, 1t
is probable that the latter will be inclined to give heed
to any suggestion that the former may mako. Knowing
this fact on effort will undoubtedly be made to increase
| the emoluments Of the officers in bankruptcy.
In order to understand the full force and effect Of such
proceeding necessary to show the defects OF the old
laws and the deficiencies Of the present act Article !,
Section g. Of the Constitution OF the United States gives
Congress- among other powers the right to make uni
form laws OF Bankruptcy for all the States OF the Union,
and in accordance with this provision Congress has
three acts OF Bankruptcy The rst was passed IN
1900 repealed the following yenrn order to alleviate
the condition those who had suffered from the Revou
tonary war; many having become bankrupt by reason OF
tho appropraton Of their property by the British or by
the depreciation Of continental money The second act
passed IN 1s designed to meet the mercantile crsis
caused by the failure Of tho United States Bank and was
repealed soon after The third act which 10 now In force
passed and approved March 1857 IN order 70 reeVe
primarily that class Of persons who had sunered oy
OF the Rebellion and secondarly all other honest
but unfortunate debtors who had become financially
and desired to be relieved Of the disabilities
| which tho law placed TN them.
The object Of the present well to protect the
creditor from suffering by tho dishonest acts OF the
debtor as 1t is to guard the unfortunate but upright
debtor who bas already surrendered his property from
tho lifelong portunes aud annOyances OF ovcrbear-
| ing creditors Some Of its sections, particularly lhat
known as the 90 Ter cent clause have been amended
This that bankrupt can be discharged from all
debts contracted previous to Jan. !, 1862 by simply sur
rendering his property he has to hs creditors
II his debts contracted subsequent to that date hs
estate required to pay so per ceut in order to qualify
him for discharge. Again. II part OF tho debt was con-
tracted previous to January 1902 and part after nc Is
obliged pay per cent Of the whole amount due be-
hard at tis upon those who were ruined by
the Chcag 20 fire; and there Is general wish pervad
inc the community tv relieve the unfortunate merchants
who all their property by that disaster 1t Is gener
ally believed that Of the first measnrs Congress Will
be called upon pass will be an amendment to the law
relieving persons from the burdens which the pres
'"i Willie the existing law is in many respects superior
to the other acts OF bankruptcy. there are yet lea
wns into existence in time Of emergency
cessity for its passage being such a ta overcome c re-
rurtey acts whlcn undoubtedly caused " the
@ I ac s % IL. sesent 81 sS % the n
s saaT. in S. % 4S
I'"s a strong desire is manifested by those who
do in the S Ss g n s.: cent
sh"l come before should sls amend the
yenl@ he h@ oparaion Of the law throughout the enre
contry In It's present form tho law Is IN some p, p,
cannot he seized the tmo Of his adjudication as
bankrupt except upon provisional ~ 10 'c % ,be
eour. or elected by the creitorsfor weeks or even
o hc Tnt Sy .s
Acn the ntatoly proceedings ch as n9tlce 20 eIou
oTs "a sun ssenrG Ts service @ cond be- performed
much eff, ctivcy. and with less expense ny tns M
s that Registers in Bankruptcy at present
BY sy s a sS ,'ss esats 70 'nf Thse rs
charges many cases 50 high that persons OF Small
me- msas hsnes eats When the law affords Administrative o.
GERS should be salaed officers, ad by cuovernheh.
or nro rata upon the parties in the
"ase. when come before the reRisofs ior settlement
Many sdSp sc are deferred from resorng the
Bank upcy Courts for the settlement VI q"
Inc number OF Registers s unnecessarily large under
the present law, which provides one % Ior s sud ,S Hsss
ter, invested with powers sinllH ~ ,nosr Ok pa
States District Judge sitting at ar sailed e upon to hear
enough half OF their time many y" hs or
As1 M ne 9"sassS time IN oa they large
ns fees for the few which come before d t as I mo
Injustice TO them than the cartsilment IN the nun
ana M nGrhal nIn.r Sseon 1f to tho
rne flied by Clclk of the United states , Rsr'Ds uaT
Of the special clerks having charxe o. the S
Department OF lhe courts & H. n"w patorned by the
it could and should also be made sr n,S dy y 10
enter ana a s al casa @ Soaeane
fer the papers 10 the United s.es the tndae Of the
tine case 1 To%a %ou Sabs parties eec before which
Registers they Geara e cane tne Should be disposed
Of whe,, no contest arose calling for inc decs'h
Judge. ...,o,. o,ontod thew vou,d greatly re-
dpc the costs by doing away with the services % th h
Mh except In n eStaG ma, %f bch of whom would
m reformed by registers clerk %ose fees %"ud dess S
and ID fssusss tSs lesseps Ss would materially
dncea SO SO would be % amply pasarTptey Court and
nsnc large class poor but honest debtors 70 Sesn @
by the Of the ae ,nds 5s s% cr the reh sc
di .S m yeil hmsc OF privileges, and " 10 genrrM
1i Nam, The legal profession that congress snou
ri, among Attention TO the passage OF the necessary
| amendments . 49,. ..... xh,nh are patent 10 all
of the process of cases IN DankruptcY
,nsd movement instead Of removing the oolous
sn. ot te law will seek TO incumber II stH more
h,ig II viii be WELL however for the peuuOnerst %
bear in mind the laws Of ls ana ist Ss te Of
bc"ac of their hnOxons features ana tnat W" r W
,"r, III meet the same fate unless u - in.oe W pe
,,y ~, hc class it assumes to benent ana ID pikeu
| -. ,la