Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1874-02-06
BANKRUPTCY CONSIDERED IN
THE SENATE.
ARMY DEFALCATTONS BEING
BROUGHT TO LIGHT.

L = l.
WAsaISGTox, Feb. f. Noon.-eES-
ATE.-fLr. West introduced q resolu-
ton instructing the Secretary OF the
Senate to pay Ray and Mcmillan, Of
Louisiana, full compensation as United
States Senator's from the time they
were elected to March Sd. 1878 Re-
ferred to the Com mittee on Privileges
III Elections. <'
Nothing Of iinport aace tfa:.spired IN
the House s
W.sHrSGroS. Feb. I-Nier. SIX es,+t.A.z.
ATE. Mr.. Eenton presented petition
from the business men Of New 17orh
asking for 2 speedy return to specie
payment, and deprecatinn any further
issre Of legal tenders.
The Bankruptcy Question WAS ro-
sumed, the pending amendment being
that of Mr.. Oglesby to strike out the
words ..'or who has stopped or has
suspended ard not resumed payment
of his commercial paper after period
OF. forty days" SO that persons OF that
class should not be considered bank
rupts.
Mr.. Edmunds Opposed the amend
lnent, and argued that the bankrupt
law would amount to nothing without
such provision. 49,. p F.
Nh. Logan favored the amendment,
and said If business mel. should be I'M
fortunate and. could not meet their
paper for O few days it should not be
IN the power Of their creditors to drive
them into BANKRUPTCY. He was opposed
| to the principle OF ali. bankrupt laws.
as he did not believe they encouraged
] fair dealing between men. No man
ri, Il :,
/ less the anount claimed against him
was at least two or three thousand dol
I lars $40 .y-.5. I'D .---
Mr.. Thurman argued that the amend
ment was more liberal than the Old
! bill, where the period was four teen
days. The Committee now proposed
to fix the period at forty days. while
the English und French bankrupt laws
We're even more strict than our old law.
The bid now proposed by the Commit
tee was the most liberal OF any COM
mercial country on the face OF the
earth.
Mr.. Oslcsby sad he offered his
amendment in the interest CT Il Just and
fair bankrupt law. He did nos think
it ludicious to fix the number OF days
I by which al hGDest man Shousi be
forced from his Occupation and driven
into bankruptcy and disgrace. lie
would pursue with the baui>, III Jaw
or any other law tie class ri prs ~ 5
who were doing bGtsitCss t.is,il ,::es., y
and constantly Ell je;:vurii':r t. e@s:taj,-
the pay ment OF honest depts With
the exception Of the portion IL u. sired
to strike out he believed tiie amend
I0enJs of tie committee NJ ms: AID
fair, and the people y! thn whore
country would be satisfied ~i.ti
MIR Thurman saul ;I ti.e !. tiers re
ceisesi iru:n yarons part, of sht> "oHn-
Try icy IA"ln;lcrs Of the j t,,i;c;-,rY Com
inltttea, Eot one compliance! OF the
amendments being too harsh.
ihc motion o. Mr.. OGlesLy t. strike
cut tie words above Indicated. was re-
iected By Il vote OF 81 nays to Is yeas
Mr.. Sherman moved un amend 4e ut
limiting the operation Of the 3:tsii So C.
ton OF the original ias as amended
aud reported by TIE committee. 10
persons owing over p, Uj0. He argued
that ii small cases the creditors got
little OF nothing and that unnecessary
lie sad il that amendment should
not be adopted IL would submit
another to extend lac period Of forty
~ ,, IA - - - . ~
lhs5 Stolit" OF Susi3tii'ieu aao hog re
s"meo payment 81 LIS colnnofci1l pa
per, SEoait nos be forced 1Alo BANK
rapteT Il, ,M4ul ninety days
Ldr- 1llfl'l3n ol'feoSe,i the ;s.nel-d-
~ - LIS - Ia 4 ,olleI ~
70 sL.e ;,",lNl up i''"' t,.o'sl si7
nouns Il u l h TO- oi i'S, e.. lAl,oE
"-sct' '12 '"9fg n''' "e1'' o;.' It" ci'st5
%"@ ere u" 1:''t'',e'h7s5 ditt nov exceed
5000. ne gave no'lcts t'l,.' az I'm 'i:e
pSopef '.iie ne @oaIIl Cir an .'ll1el''-
it.,l' I" - VI : ~ - - a. -
viz" I"f me proving I'll "t~''.'i4'S peio u.
l''Sezce 81 me peace OF notary p"oic
lliS'e'i' oi pe!pIS 'er II. 's''l b
l"pte1 oi tii,'>' ''''''sN < Ii Hiss '''i>
- 10" Pi",,"VQ
f.h"lhss the d'5e',,sl"li on NJ ''.!'l A.
i.il; ,o,1,'i'''''' ''''s ''s''S, -
80,
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