The Orangeburg news. [volume] (Orangeburg, S.C.) 1867-1875, 1873-06-28
Important Homestead Decision,
a ~ e. y8l-s.5E q s&S'
Reste'at District Of NORTH Caro1ia
District Court, lime Bird 1873
III re Jordan,
Bnnkrnnt.
In Bankruptcy

In this case it is certified by the
Register, that the following questions
arose in the course of proceedings, were
stated and agreed toby the counselof
the opposing parties, and presented to
this Court for adjudication p
1st. ais our present bankrupt law
unconstitutional because not uniform 2"
End. Can the Bankrppt-Law have,
retrospective effect without impa;ring
the obligation of contracts aud has Con.
gress such power p'
Bird. sis the petitioner entitled to
said lands Ohe homestead. set apart by
assignee) as part of his rightful cxcmp-
tions as against. a Judgment rendered
prior to the ratification of the Constitu-
tion of North Carolina upon contract
made before the preseh, bankrupt law
was enacted?" ss - Sh&9 E
4th. 'Should not the lands he sold
by the assignee, and the proceeds arising,
from said sale be distributed among the.
or, ditors whose debts were made before
the ratification of our present tate
Constitution z"
a written opipiun was filed. by Fl. G..
EMort, Esq, Register iu Bankruptcy,
upon the various questions certified.
Graves Il Lyman, Att US forsB Bank.
rurt. Pickens, Attorney for creditors.
[ 4 Dick, il concur j a the able and
we'll prepared qpiaion oftho lsagistcr
upon the seyeral. questt,ns which a,Is6 a,6,=e
been certified tothis Gouft Tor a,iiarii
cation.
IN re Bcckcrkord, 4, b. r., SO, the
y, S. Circuit Court of Missouri decided
that, "The provisions ui. Sec. d4of, the
i3unktuPt Actaduptiug the exemptions
IN iil,or- otsnxeentian daAtars a-f..hii.l,oI=
by the laws of the several Suites does
not destroy th,upi!ormity Of tho Bank
rupt Act, nor Violate any OF the pro
visions Of the Federal Coustituti N y, ~s
he question decided was directly
presented for adjudication, anl the Npn
ion Of Miller 4 Krckel, j. j. is positive
and forciblo aud seems to have been
well cons 'dered.
l 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
sideration, or greater weight of author
ity.
The amendment cf June Sth, 1872
does not materially vary the question of
uniformity decided ~ re Beckcrk ord,
as it only changes the date when the
State exemptions are adopted and the
Act Of March 3rd, 1878 declares the
true intent and meaning of tie \ ct of
June 9Th, 1872, and re enacts it with
some alterations rendered necessary by
tue circumstances OF the times.
The general policy and purpose of
bankrupt laws is to make an equal dis
tribution of the effects of an insolvent
debtor among all of his creditors, and
then discharge an honest debtor from all
prior debts.
Before the adoption Of the Federal
Constitution each State possessed the
general powers OF sovereignty and couli
PISS bankrupt laws to operate upon its
own citizens, but could not affect the
rights of the citizens of other States.
AS it was easy to forescs that there
would be many business transactions
and much coin mer cial Intercourse be-
tween the citizens Of the several States
which would necessarily produce con
siderable individual Indebtedness, which
might icsult in extensive financial
embarrassments; it was obvious tothe
farmers of the federal constii ution that
the benefits of u wise, humane and
general system Of bankruptcy, which
might, under CERTAIN exigencies, become
necessary to promote the happiness and
commercial prosperity Of the nation;
could only be effectually established, by
the federal government adopted by the
people of, the several States for general
aud natidnal9pnrposes.
To provide for any emergency that
might arise for a 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 nodg the several