The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1873-12-25
4 U AToN, VA.
Thursday, ................ Dec. 25, 1873.
The Bankrupt Law.


bankruptIlaw by Ia very decided vote, leav
ing pending cases to bs adjudeated~ under
the provisions Of existing law, and provi-
ding that the fees should be one half Of |
what had heretofore been charged
lmmaturity and absence of consideration
we're noticeable at the first glanceaof this re
pealing law. No case can be entered upon
she records Of the bankrupt court and be
placed ia state OF tendency, until the
princ;paisfses controlled by law have been
paid in. These are distributed to the regis
ter in bankruptcy, the marshal, clerk and
printer, and do not amount to the fees paid
In the civil courts, for the same amount CT
work. The printers fees IRE not one cent
more than the regular rates Of advertising
There may be extra fees incident to compli-
Gated cases, and there may be fees improper
ly charged, but these are not the result OF
legal provision. They. are conditional aud
personal, and not properly chargeable to the
law itself. /, The fee for the attorney who
NAKED out the papers, although it is = mat
ter, Of private contract and agreement, is Of
ten more than all the other fees combined,
and generally about one-half. So the gen
slsman, Sir Beck, Of Kentucky, who added
this amendment about the fees, acted, as he
generally does, without knowing much a.
bout what he was doing. He is mass Of
supericalisy that takes pleasure in making
himself ridiculous whenever an opportunity
presents. ss
The bill as IL passed the house, hastily
snd recklessly. went to the Senate, where as
We expected it would DO, was referred to the
j judiciary Committee, and will there under
20 that calm elaboration and discussion
which are due to SO grave matter, affecting
very seriously TIE interest of the people
generally .se The prevailing impression was,
at the adjourument Gu Friday last, that the
committee would prepare a bill expurganng,
or certainly greatly modifying, the involun-
otary feature Of the old Law, and then leave
it as it is. t....,os;
There should be, "a uniform bankrupt law
fixed permanently as part Of tho economy
Of the government Il is demanded by con-
siderations of business. ezpedicncy, Of public
utility and Of humane sympathy. On an ay-
erage there is not more than one in twenty
Of the entire business men, or men doing
business, who ever succeed in accumula-
ting more than bare support. Three
fourths Of these do not make support and
keep clear of debt, and the larger proportion
of them become embarrassed after few
years operations, after losing the capital
with which they started. TO keep men
under the pressure and harrassment incident
TO importuning creditors and vigilant off .
cers.s seeking merely to do painful duty inn
posed by law, is to destroy the debtors use
afulness, paralyze bis energies and infict
suffering upon his family Community is
thus deprived of his creative enterprise,
sno body is benefited and number of inno-
cent dependents injured. It will be argued
.
by some that such men are not benefit to
community, But this is not SO. Ayery So
ber, Industrious man is a public blessing -
'stIe may not have the faculty Of accumua-
alag for himself but he is constantly produ-
cling to enrich the community others shar-
per than he is, gathering what be sows. 1t
would be far better for the general good that
there should be some method by which the
demoraliziog and encrvating effect of hope
leas indebtedness could be corrected, than
for the victim Of bad management or mis-
fortune to be pressed down aud hedged in
go chat he can be OF no account to himself
cor to community. It is not in consolance
with healthy condition Of society that
suine-teaths Of community should be constant
9y on she rack, with their mental and emo
ieioual 'being tortured and harrassed almost
TO desperation. There is no compensatiog
good thst can possibly follow such condi-
sion Of tadags. And, as in this ever active
and adyeasarous country of ours, Auctua-
ring, there sheuld be some legal method Of
relief, BY which n,sn may be lifted up FROM
2 q condition Of dependency and helplessness,
md haze the shackles stricken from their
energies 20 as to be able to try the struggle
Of life again, in tbs hope that the lessons Of
the past might prove to De the instrumental
tiles of future prosperity. The permanent
interpretation of judicious bankrupt Jaw
into the economy of the government, would
bs conservative regulator of business
transactiens and contribute, to the general.
,heathfulness Of commercial intercourse -e,
In the absence Of bankrupt law, where
is the relief that can be obtaiaed for the
great majority of men, who constitute the
debtor Glass, and who have become so In hon-
est efforts to push business, and accumulate
for themselves and dependents, but have
failed !? There is none Not only arc they
faced with the psincipa. of the debts they
r.nnot nav. but the costs Of sniff, nroceed /