The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1873-12-17

wisest course wa. to recommit the bill
and to amend it so as to make it per-
feet.
Mr.. Eldridge, of Wisconsin, denied
that this bill was brought about by
lawyers Of Jay Cooke d Co., or any
other banking house. He was opposed
to the bankrupt act from the beginning.
1t was of no beEefit either to debtors or
creditors, but it has operated to put fees
in the pockets OF the officers OF the
courts, and in many cases OF Judges.
Also the law was demanded by speculaa
tors, and its only tendency was to en-
courage speculation. He referred to
the fact that the last Congress had, BY
two.thirds vote, repealed the bill, and
then there were no lawyers OF Jay
Cooke & Co.'S here. That firm was
then engaged in speculation, and per-
haps expected TO take advantage OF this
law
Mr.. Frye, OF Maine, opposed the
pending bill. He argued that the
bankrupt law protected the honest
debtor who is willing to pay his debts,
but there were dishonest debtors every
where and this law heretofore was
necessity to the interest Of creditors:
He referred to the State Of Maine, snd
said that the people all desired q bank
rupt act.
Mr.. Hall, OF Maine, disputed this and
said that ninety OF every hundred OF the
people of Maine demanded it's repeal.
Mr.. Jeunett, OF Ohio, said that the
pending bill was right and he advocat-
ed the repeal OF the bankrupt act.
Mr.. White, OF Alabama, opposed the
repeal, but advocated certain amend
ments, the points OF which he suggested.
Mr.. Work, OF Illinois, thought that
the bill should be wiped out.
Mr.. Poland, Of Vermont, agreed that
there were defects in the bill but thought
that they could be met by amendments.
Mr.. Potter, of New York, and Mr..
Butler, OF Massachusetts, advocated the
pending bill.
Mr Tremain, Of New York, then de-
anded the previous question which !
,;t- seconded. Ayes Il ; nays I2l.
Mr. Beck, OF Kentucky, moved his
:, ,nenGment, OF which be had preyiousr
" given notice, and 1t was adopted.
The bill was then passed by 500 ayes |
to Al nays.
The bill as it passed the house is as
follows:
BE it enacted, &c, that the act ems
titled an act TO establish q uniform
system Of bankruptcy throughout the
United States, approved March 2i, 81,
and lbe act entitled an act in amend
ment OF an act entitled an act to estab.
lish uniform system Of bankruptcy
the United States, approved
March ID, 1867, and the act entitled an
actin amendment OF an act entitled an
act to establish a uniform system OF
bankruptcy, approved February 18th,
1873, and all other laws and parts OF
the first named act or amendments there
to be and the same are hereby repealed. 4
SEC. 3. That ell cults and proceeds
ings now pending in the courts OF the
United States, wherein an adjudication
of bankruptcy has been made, shall be
proceeded with and governed by the
provisions OF existing laws, which are
all hereby continued in force only for
the closing up Of suits and proceedings
now pending provided that rom and
after the passage OF this act the fees Of
commissioners and the charges OF the
officers aud agents OF the courts in
bankruptcy cases, shall be reduced to
one half the fees lor commissioners and
the charges heretofore allowed.