The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1873-12-17

ytiu Dy tre gON0ruHput ou hcSount VI tn1
ssvoral. pacii railroad com panies and di.
suit 10 recover the same.
Mr.Bypbor objected, and the resolution
was not received.
The House then took up the bill report
ed yesterday from the J Judiciary committee
to repeal tho bankruptcy act, and Mr..
Ire main pfoee, ded 10 advocate the bill.
Mr.. Wilson, Of the Judiciary commit
tee, opposed tho bill /; arguing that tho
law was necessary, and iftbers were defects
In it tho proper course Vas 10 remedy tho
defects. He thought the title Of tho bi
ought to be - bill TO embsrr-ss jnstce'
He believed It unwise TO repeal the exis'.
ing law and believed IL wise 30 make IL
perfect. He.therefore trusted the Hdnss
would recoramit tho tillto the Judiciary
committeo.
Mr. Edridge of the judiciary commit
tee advocated the bill. Hc understood
,ba. the gentleman who had reported the
orig insl bankruptcy bill 60 tho House,
ref ing TO Mr j anl eI oyRhode l. lAnd,)
wse tho fr,t to svsii himself OF liz pro-
vi.ious, The measure operated as pro-
lection sgsinst tho censs,stion OF es'ates
for debt, and not for the beneat Of credit
ors; but TO put fees in the pockets OF on
csrs in court, and ia some instances in
,hose Of Judges themselves. the sgricul-
turists OF the country had never been In
f,yor OF the law. Abiding TO the remark
VI Mr. Wilson, 10 said the bill had been
in tho Interest Of jay Cooke
S Co. Eljrdgs said The lest House had
passed . bill! to repeal the bAskruptoy law
by .two-lhirds vote under suspension
OF iho rules, and there had been a. that
sime certainly no lawyer Of Jay Cooke y
o., urging lis psn-ge. That Arm was
hen carrying "a reckless speculsitons
With view, perhsps. CT being discharged
from their liabilities under ihis internal
law
Mr.. Frye Of the Judiciary Committee
thought the repeal Of the Jaw would not
make commercial men more houes; or
business rnen moro careful, ba. Il would
open the 11od gates OF fraud.
Mr.. Jewett, of the j Judiciary Com mi.tee
said It was conceded that the operations Of
bankruptcy were unfsvorsble to tho gen.
eral Interests Of tee country.
and the Law did no one any
good and i. inflicted eva
Wherever it had been enforced. In tho
consideration OF ihs matter in the COM
nittee he had not hosid Jay Cooke or any
aussion commenced. lie telieved as Il
business man that The influence o. the
pankrup. law was doing more TO continue
the present condition Of things In she
country then ell tho sttingency in tho
money market II was the uncertainty,
doubt and fear that at An unexpected mo-
rnent some unyielding creditor might pu.
in bankruptcy the struggling debtor, and
| hat his ss.e;s would bs absorbed In costs.
Tia. WAS the great owl. Believing ths!
no good was to result from the law. aud
| that it was An evil, be was unqualisedly 10
favor Of its repeal.
Nj. White OF the Judiciary committee
WAS in favor VI smeniing the law, rather
| than repeating u.
Mr.. kasonsuggosted motion TO recom-
mitt tho bill with INSTRUCTIONS 10 report
such amendments TO the bankruptcy law
| as shall increase tue authority OF the
Judge in bsnkrur,cy proceedings whom
II snail appear tbs. the debtors sssets msy
| within a reasonable time, be made sun
! Gent To discharge all his liabilities, and
to make such other and further orders in
| the case as shall prevent ell unnecessary
proceedings in bankruptcy. Also TO re-
port such amendment - shall diminish
the cost and Incidental expenses Of the
p'o.ee'"s. ~ o ;a.,'no,o'
..o"s :" ' w. ~ IN "a Sn,.,n
| No" .h uoe'' '"''' ""N ''''
N, w.-a ., I,,;,oi. =, IN. Judiciary
| con mi,,as ,not. in f.yor Of The renee,
| ,T ,ho L.
| n, p.rr. 1, ,.t,,,,o,oN NJ 'E,d,;o..
| i,,im.t;on .bor Nv Jascte, said he AID
| na, ~ ,hs, ,,.n,is,osn I'D =, ,ba ,;,no
'vsilaa bim.n,t If Tho yo,urt,-v n,ov,s.
;n,. -, w. 90,
A., p,,,a, ,-,.,s3 hi. co,,oorr. T,o.
| ,nain wanIJ .,,o,v ,ho ,no,io, N s,,ito nm,
III h,, ~ a., sao,;nn with -ane.ied
| NJ bus VIC 90 eSNbiSht HAN" Aepoe''A