Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1873-12-27
DEBTOR AND CREDITOR.
Soma Thoaghtsol ;sa PrV5rie;5 Of the Repssl
Of The Bankrupt Ltw.. sra. .

tFr5a tho n. Y EveMaS pos;.
The baukiUpt h.l Is nov b-iore the
Scnate, ~nere possibly the qIes Of
iLs Total repeii MA; receive Il little mole
couslduralilu than was given % 10 Ia the
HJuse. 1teie ia, y is sad, large iotby
IN attsudauce az Washinktcu With thif
tntasu.e in eha-se. bUt tiis body viii
have lees iifa nee 10 he So ate than 30
TIE House, and tho question he mor7
nkcy to be con siisr,d 90 is merits.
llat The Bankrupt .uw netds to be
changed BY strisHE out Of I. esft9lu
serious def cts, there is, ne Ue.ievs, DO
que tloH. Blu Z dos rtt follow that be-
cause Law Is Imperfect that iher fore
should be REPEALED, aud the country b.
wthout legil,iio On a subject where
H. Is imperoiiyely needed. W.tL04t CUlrg
iu'o d, tails with reg .rd TO tuis ste.iI
law, ae may aasumc lha, there ar, GER
tain gen, raj pr.ngples Oh I. e question oi
bankruptcy Nhich are lndspu-ahle.
One Is that the reiJt'o on OF debtor aud
credit r ueed % be Gviiuei a"d p guat.d
by lsw, ana t'is, not bee Us lcuest me-,
must o. constrained z the Irethot OF ny
ranging ta-r altirs, but 0-cau,e the
rOgu,s vii chat their ere litori II they
car, aud must be kept uu ier control. a
law that Is needed for rogue eLould D. b
uniform lawi and the dishonest debtor
shoul nlithcr have, nor hs irvo that r.
has, tar advantage over Ills ere litnr D!
ayu.diag bio jus, rlIins because 5u i'n-
aCinary l'ur, called a State liue, divides
them Both should fee. thai tho ~.
lations bstween them are dtAnei aud
guarded by u law wli:h Is Of ihr sau.e
effect and power In oll pars Dfthe Cnlou.
Theia SHOULD b3 no control oa t.e on,
haut, TO evasion Of responsibility On the
other, whicl may be exercised o. secure d
IN one llse. AID not IN suo.heg place,
but Tue legfl iela lon should be The sdinc
in all places. -, TOO, tire law should
equally protect all creditors, and not give
to one nun, or 10 a few men, WHO may
happen to bc nearest the bankrupt, ana
who can seize upon his iiJrls, an advau
.age over these at a distance. Whatevcr
may be- tie defect OF the present. law it H.
4 essential 70 the welfare OF tue etradc of tue
/ whole country that the relations between
the dob or tAd creditor class should b,
regulated IN accordance with certain
Nell-dviiged nccessitirs.
4 NeAre quite confident that IN saying
til. We represent ihe opinion Of the eoM-
. mtIclei community. So tar fiom agtes
ing with Mr.. Trcmain In Als assertion
that the commercial people, whom he
I represents, desire The repea. Of he Bank
rlyt Jaw, We are Qaite certain that te is
uttcriy mistaken. Wheu this subj ct
came up before the last Congress 8
memorial was sent to Washing on. pro
testing sgaiustrepesl, which carried with
II tue lnlueuce snd reprrseuled tue capi
tai OF The commerce of New York. Sdcl
fact should have convinced MIR Tromair
that he Was altogether IN erior, anC
should have checked the Indecent anC
su.ricious haste with which the bill io
rep,al was lassed by the House. A
similar memorial has already been seu
forward from a number Of the leadiui
merchants of this city " the Senate, au,
we Lave no doubt that If ii ne were give
aud the trouble taken 70 ascertain tn
viii a. tha p ope on The sUbject ii wou,'
he found that niuety-pine hundred d hs o
he solyelt meu Of the country wouli
. protest. sgalust the repeal oi the law az
ask only Tor amendment. Il IS uufortu
nate that Mr.. Tremair, who would b
, supposed to speak with authority, an
. whore ueserlion would be sireng ghcne
. by his reputs len as laNtvs, shoul
, nave made al the outset Of rs Cor
! gressionsl career so F-lions h'lnaer