The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-05
Sherman'S Bankrupt Bill Under Criti-
ciSm in the Senate.
Who Are the Attorneys of Cor
porations in Congress?
1nsinuations Against a Sanity Massa'
chusetts Statesman.
SENATE.
WASHINGTON, Feb. 4, 1874.
4 pLEA FOR SPECIE PAYMENT.

SENATE.
WASHINGTON, Feb. 4, 1874.
HLEA FOR SPECIE PAYMENT.
Mr. FENToN (rep.) OF N. Y, presented petitions
Of the business men OF New York city for the
speedy return to specie payment and deprecating
any further Issue OF legal tender notes. Referred
to the Committee on Finance.
Mr.. SUMNER, trep) Of Mass, presented petit
ton Of the citizens of that State against The extern
sion OF any sewing machine patent. Referred to
the Committee on Patents.
Mr. FENToN 10Y request) introduced bill refer .
ring to the Court Of Claims for adjudication the
claims of Norton and Robertson Tor stamp cancel
ling and pOstmarking machines. Referred to the
Committee on Post Offices and Post Roads.
THE DEFECTIVE GAS IN WASHINGTON.
Mr. MORRILL,, {rep) OF Vt, introduced resolu-
ton authorizing the Committee on Public Build
ings and Grounds in making the investigation as
to detective illuminating gas in the District of
Columbia to send Tor persons and papers. Agreed
to.
Mr. WEST rep.) Of La, introduced resolution
instructing the Secretary OF the Senate to pay
AessIs. Ray and Mcmillan, OF Louisiana, full com.
pensation as Senator'S OF the United States from
the time they were elected to March 8, 1873. Re-
ferred to the Committee on Privileges and Elec-
.tions.
MR.. SHERMAN'S CURRENCY EQUALIZATION
On motion OF Mr.. SHERMAN, rep.) of Ohio, the
bill reported from the Finance Committee yester.
day to secure equalization OF nation bank circula-
zion was taken up, and he explained its provisions
Pending the discussion the morning hour expired
and the bill went over.
THE BANKRUPT BILL.
the Senate then resumed consideration OF the
BANKRUPT BILL the pending amendment being that
has stopped or suspended and not resumed med
payment Of mis- commercial paper within period
OF forty days." 80 that persons OF that class
should not be considered bankrupts.
Mr.. EDMUNDs. lrep.) OF Vt, opposed the amend
ment, and argued that the Bankrupt law would
amount to nothing without such provision.
MIR. LOGAN, (repD of ILL.,, favored the adoption OF
the amendment, and said II a business man should
be unfortunate and could not meet his paper tor
few days 1t should not be In the power OF his
creditors to drive him into bankruptcy. He was
opposed to the principle of bankrupt laws, as he
did not believe they insured fair dealing between
men NO man should be put into Involuntary
HIM be at least 81, 900 or So, 900.
Mr.. THURMAN, fdem.l OF OHIO. argued that the
amendment OF the committee was more liberal
than the old BILL where the period was fourteen
days. The committee now proposed to fix the pc.
Rod at forty. The English and French bankrupt
laws were even more strict than our old law, The
bill now proposed by the committee was the most
liberal Of any commercial country on the lace OF
Mr.. ,OoLEsBY oep.) Of H., said he offered his
fair BANKRUPT law. He did not think it
which an honest business man should be
forced from his occupation and drawn into bank
ruptcy and disgrace. He would pursue with the
Bankrupt law or any other law the class OF per-
sons VINO were doing business dishonesty, and
constantly endeavorlng to escape the payment OF
honest debts. With the exception OF the portion
he desired to strike out he believed the amend
ments OF the committee were just and ialr and
the people OF the whole country would be satisfied
with 1t.
the adoption OF the amendment would be detri-
mental to the Bankrupt law. With that provision
IN, overtrading would be prevented. Business
men, knowing that their paper must be met, would
Mr.. EDMuNDs said by leaving the provision in
an honest debtor who tailed to meet his paper
could not be pounced upon and sued by some
avaricous and grasplng creditor the next day. but
he might recover his standing.
Mr.. THURMAN said OF all the letters received from
various parts or the country by members of the
Judiciary Committee not one complained of the
amendments being too harsh. The only objection
he mad was that tue bill was SO much IN favor Of
the debtor class that there was contingency OF
the whole law being imperative.
The motion OF MIR. Oglesby to strike out the
words above indicated was rejected by vote Of
"a nays to Is yeas.
Mr.. SHERMAN moved an amendment limiting the
operations OF the thirty-nlnth section Of the
original law. as amended and reported by the COM
mittee to persons owing over So. OOO He argued
that in small cases creditors got little or nothing,
debtor He said ii that amendment should not
be adopted he would submit another to extend
Stopped OF AND not
payment OF mis- commercial paper should not be
forced into bankruptcy, to ninety days.
THE ESTABLISHMENT OF NAVAL SCHOOLS.
Mr.. SARGENT oil California, from the Committee
on Naval Affairs, reported, with amendments, the
bill to encourage the establishment OF marine
schools. As amended by the committee it pro-
vtdes that In order to promote nautical education
and to educate oficers and seamen Tor the mer-
chant and naval marine In scientific and practical
navigation, and in the arts trades and occupations
pertaining to seamanshp, the Secretary OF the Navy
shall be empowered to supply upon the written APP
picatOn OF the Governor OF State or the authori-
ties OF the cities of New York. Boston, Philadelphia,
R0lf and Can Rrnr
with all her apparel, together with charts, books
and instruments iii the same can be con-
used in the establishment OF public marine schools
In eacn OF the above named ports. and the ships
and material so furnished may be loaned to the
said cities, or the States in which they are situ-
ated, upon condition that said states cities
establish at their own expense nautical school
for the education OF youths DESTROYS of entering
the merchant or naval marine; or, II already in
service, OF improving their nautical education.
The President OF the United States may detail
naval officers to act as superintendents or In
structors OF these schools; and, IN conclusion the
bill provides that no person shall be sentenced to
or received at such schools as punishment or COM
mutation OF punishment Tor crime.
~ THE RESTORATION OF A NAVAL OFFICER.
tee on Naval Affairs, reported a bill authorizing
the President to restore William Kilburn to the
navy OF the united states as ensign. Placed on
NEW METHOD FOB PROVING ACCOUNTS IN RANK
Mr. THURMAN opposed the amendment of his
colleague tMr sherman) to the Bankrupt
law, though he thought it . matter OF little
importance, as there mad been but very few
cases where the indebtedness did not exceed
$4,000. He gave notice that at the proper time he
would offer an amendment 70 the original law, so
AZ to provide for the proving OF accounts before q
justice OF the peace or notary public, instead OF be-
lore a register In bankruptcy or United states CON-
missioner as now provided.
Pending the discussion on Mr.. Sherman's amend
ment, the Senate, at twenty-five minutes OF five
r. NJ. adjourned.
HOUSE OF REPRESENTATIVES,.