The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1874-06-18

. SA0IA @S~N 'SAH3
a...z.s.-z.s---
-.---...-,.-.--. Third Term.
The question of a third term for Gen. Grant
continues to agitate the popular mind, and is
being discussed with much more seriousness
t!fah it was a few months ago. 1t is possible,
II not. Improbable event, that the necessities OF
party and tl,e condition Of the country will de-
mand: tl:ere-nomination of Gel. Grant by the
Republicans. There are reasons to be advanc-
ell in fasorsof this, mot only in justice to the
President himself, in connection. with the pee
pie If the South and Reconstruction, but Is a
matter OF expediency to the whole country.
on the question IF finance In the present tenn
per Of the West, an untried eastern man would
not be supported in that section, and with the
views Of the East, "a :western nominee l. would
not be supported, by reason of divergent views
as regar,ls the financial policy of: the Govern
,ment: The personal influence of the .Presi-
dent and his known national feeling, would go
Tar tobring together the dissenting sections,
and harmonic them for another: contest. in
1875. We should dislike to see any organized
effort to force such nomination, but we be-
]ieve the judgment of the country, and esptci=
ally Of the Republican party, will be driven to
he copclusion, that in order to secure the Uni
ty Of the party, preserve the Conservative tene
OF governmental spolAys aud perpetuate the
principles of Republicanisni, the nomination OF
Gen. Grant in 1876 will become necessity
Ills personal popularity f5zfEy isgfeater than
that of any living American citizen. He stands,
too. upon broad platform Of Irrational coAser.
yatism, around (which the patriofis,riof the
country may crysfalize, and the confitleiice Of
all sections iepose, With present SURROUNDINGS
and the Earring and clashing interests of the
various geographical divisions : of 1.-THE Unio,
mcnaeing, it looks to us as though Gen. Grant
name will have to be used to secure an election
by the people, whether be. desires. to-, depart
from surecedent or not. We can see no insu-
perable objection to slcI'a result, it the har-
monK Of the country, and the, consymmation
of benefits to slll.req,tire it,. 1t is, however,
too early to advance to committals.a IS We do
not know what events may transpire, and how
they willaifact the relations of parties and men
in the next two years. The underlying prin-
ciples of the Republican party constitute the
only safe basis fora governmental policy, and
the paramount considerations will be theil
successful operation. If to accomplish this. il
becomes cxpedient, Gen. Grant will become
the illocminee Tor fine sake of the principles.
The Bankrupt Law. g.
- We gave tile main points of Chief Justice
Waite's decision, rendered in Richmond on the
9TH inst. on the bankrupt law, pronouncin2
.he. amendment to she law OF 1872, passed in
1873, .sneonstitutienal. We presume this dis
posalof the matter IN dispute will be generally
accepted, without awaiting any action Of tun
bench of the Supreme Court. 80 =.
This leaves the law OF 1872 in force, which
provides bankrupt exemption of $500, in addi-
ton to the State exemption, which is about
e30o, AS to debts contracted before the .adop
ton of JAcf present Constitution of NirgiaiasIl
April 1863. Against debts scolltraeteu~ Since
that date the homestead exemption is good, in
a.id;tion-t to the bankrupt exemption and thu
poor debtors exemption, = kz*:
l.Weawere inclined to the impression at first
before wesshad giveathe mattermdch thought
that the amendment act Of 1873, giving an I'D
slssiopat 81 900 exemption, had induced grsa
many to apply for bankruptcy, who Otherwise
would not have. done SO. we ate .no~ OF thu
opinion, however, that very few flied their pc
titiols who would not have done so any no"
fnasm.lch as they will secure a release Sc. IRON
their Indebtedness and have the $500 and s3o
exemptions and the WITS dover in real estate
Here and there cdsefnay Bs pointed eutt'ia
would not have been presented ilrthe bankrupt
court but for til, expectation Of the benefits OF
the at Of 1853, But stley arer-yery few ana
willie the decision OF Judge Waite mas nal I1e
e feet to disappoint many as to the amount
they would have exempted, it really will not
operate to their. disadvantage i'll any o1her re-
spect. They still are released from the emoar-
ra,siinl.nt of all lebts, and have the sSDo ex-
q; ,ption. If they are bankrupts, i'll fact' the
law is still efficacio:ts, and we presume ia ho'
+ il. amendment of 1873 been enacted, woul'
Ii I'VE been compelled tohave availed them'elve
Of fla benefit And this will doubtless be TIM
facat WITH ali others who m:ry appfy-t Wall ~
a necessity forced upon them by the aprepon
derance of debts over assets. VI course
would be more agreeable to have the exemp
ton contemplated By the law OF 1873 bae Il
that has been ruled to be impracticabie, the.
will have to be satisfied with the provisions :. .
ls7a Z Dover can be claimed as heretofore.
S, the decision of the Chief Justice. has nc
workedthe harm we al first thought it would
a1though. in some few,eases twill operate SC
verely.
!. ApPEICANTs IN BANKRUpruS.--We nav!
been requested by the Register in Bankruptc
for this District TO call the attention OF pe1tll
TONERS in Bankruptcy to the Importance OF
once presenting their. petitions for fl;lal aus
charge ALI those whose petitions were re-
t*,rled any time before six months from sthl
d tie, should, if they desire discharge in bahS
- lptcy, take this final step to consummate ina
b5iect. lii order to have all the papers pre1ear
ed to obtain the discharge at the next term o
tie Districteenrts it il necessary that tlmel
s.otics. .s:,oald bs..given the r. ssster. Ii ma
bean tho Ilabitheretofore to- postpone tins Las
anplicatfon iuntiIa short time before the meet
ing Of the Court, when the business OF tfie'Kee
fster's Of i,s becomes SO crowded as tas srende
1T Impossible to dispose of the work Incident
the applications. This was the case at the l las
+.,, ~ tho Court and II Is the Wish of the Reg