The Orangeburg news. [volume] (Orangeburg, S.C.) 1867-1875, 1873-06-28
Important Homestead Decision.
Wester7t District Of NORTH Carolina
District Court, Junc 3,d 1873 a


|
Register, that thc following questions
arose in the course of proceedings, We're
stated and agreed toby the counsel of
the opposing parties, and presented to
this Court for adjudication
lst. "Is our present bankrupt law
unconstitutional because not uniform z"
2nd. Can the Bankrppt-Iaw have
retrospective effect without impsring
the obligation Of contracts aud has Con.
gress such power p
3rd. SIS the petitioner entitled to
said lands (thc homestead set apart by
assignee) as part OF his righ,ful cxcmp-
tions us against Judgment rendered
| prior to the ratification of the ConStitu-
tion Of North Carolina upon a contract
made before the prcscn, bankrupt law
was enactei z"
4th. Should not the lands he sold
BY the assignee, and the proceeds arising
from said sale be distributed among the
cr ditors whose debts were made before
the ratification of our present tate
Constitution 7"
a written opinion was fled. by II. G..
Emort, Esq, Register in Bankruptcy,
upon the various questions certified.
Graves u Lyman, Att US fors Bank.
rupt Pickcns, Attorney for creditors.
I Dick, il concur in the able and
we'll prepared opinion of.the Register
uron the. several, ,questiins which have
becn certified toithis Court for s:sljaii
cation
IN re Bcckerkord, 4, b.. r. 50, the
I. 5. Circuit Court of Missouri decided
that, "lhc provisions of Sec. l4of the
Bankrupt Act adapting misconceptions
in ia, or oEcxerntian dahtnrs a-tahli.haI
by the laws of the several States does
not destroy til. uniformity Of the Bank
rupt Act, nor violate any of the pro
visions of the Federal Constituti n y
The question decided was dircat!y
presented for adjudication, AMI tle opin
ZION of Miller & krckcl, j. j. is positive
and forcible and seems to have been
well considered
feel safe in relying upon any legal
decision of Mr. Justic Miller as there
Is no Judge in any country whose judi
cial opinions are entitled to more con
slderation, or greater weight of author
ity.
The amendment cf June Sth, 1872
does not materially vary the question Of
uniformity decided in nc Bcckcrkord.
as it only changes the date when the
State exemptions are adopted and the
Act Of March 3rd, 1873 declares the
true intent and meaning Of the Act of
June Slh, 1872, and re cnacts it with
some alterations rendered necessary by
the circumstances Of the times
The general policy and purpose of
bankrupt laws is to make an equal dis
tributiop of the effects of an insolvent
debtor among all Of his creditors. and
then discharge an honest debtor from Al
ror debts.
Before the adoptio., Of the Federal
Constitution each State possessed the
general powers OF sovereignty and coull
pass bankrupt laws to operate up,n its
own citizens, but could not affect the
rights Of the citizens Of other States.
AS it was easy to forcscs that there
would be many business transactions
and much CONNER cial intercourse be-
tween the citizens of the several States
which would necessarily produce con
siderable individual indebtedness, which
might Jesuit in extensive financial
cmbarrassmcnts it was obvious to the
farmers of the federal cousti, ution that
the benefits of. II wise, humane and
general SYSTEM Of bankruptcy, which
might, under csrtain exgeucies, become
necessary to promote the happiness and
commercial prosperity Of the nation;
could only be effcctually established, by
the federal government adopted by the
people Of the several States for general
and national purposes.
To provide for any emergency that
might arise for general bankrupt law,
the. constitution vested the necessary
sovereign power in Congress, with no
other limitation than that the laws up
on such subject should be uniform in
their operation nong the several
| States. 49,.