The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1874-02-05
CONGRESSIONAL.

SEN n VIE.
Mr.. West introduced resolution IN
siTucllhg the secretary of state 10 pay
Kay and Mcmillan of Louisiana FIJI COM
pcusniOn NJ senators Of the Unided states
from tba ttfhU they were elected 10 March
81, lSi1. Referred,
Or motion of sherman, the bill reported
t.um tho finance committo yesterday, to
secure the equalization of the national
bank circulation, was taken up and he
explained t. provisions, pending discus
sion until the morning hour had expired
aud the b!!l went over.
The Ssnsto then resumed consideration
q the bankrupt bill pending, tho amend
meat being that of Oglesby to strike out
the words "or who has stopped or sus-
pended snd not resumed payment Of this
commercial paper within the period OF
! forty days, 10 that persons Of that class
! should not be considered bankrupt
! Mr.. Edmunds opposed the amendment
and argued that the bankrupt law would
amount 10 nothing without such pro-
| visions.
Mr.. Logan favored the adoption Of the
amendment.
Mr. Thurman argued that tho smcnd-
ment Of tho committee was more liberal
| than the Old bi!L when the period Was
! fourteen days. The corAmitteo now pro-
| posed 70 tx tho per cent. At forty. The
! Euglish aud French bankrupt laws were
! even more strict than our old law, The
| b.Il now prepared by the committee wa,
| ,hc most literal Of any commercial coun'
/ try on the face q the earth.
Mr.. OGloshy said he offered his amend
| meng 10 the interest Of iI-t nod lair
bankrupt law. lie did not think Il wdi
! jat.,lOans TO lN y numbor OF days by
which au honest bls,aofs man should DO
forced from Ai. occupation and thrown in
TO bankruptcy, lie would pursu" with
bankrupt law or any other law the class
Of persons who were doing business dis
lone tly sud constantly endesyortns 10
csosuc On yinent OF houe.l debu. With the
exception ct n portion no desired to strike
oUt, he believed the amendment 81! the
committee was ilst and fair, and the peo-
p,a OF the whole country would be salts
lied with II.
Mr., EdmunIs said by leaving ,ho pro-
vision in, kn honest debtor who failed 10
nee. his paper could not be forced upon
aud sued by como ayarIcious and Srsspihl
creditor tue next day, but would be pro
tected for forty days, by which time M
might recover his standing.
Mr.. Thurman ssid Of all tho letters ro
ceiyoI from various parts OF tue country
hy members of tho Judiciary Committee,
not one complained OF tho amendment be-
ing too harsh. The only objections he hSd
was that the biz was SO much in favor OF
the debtor class, that thore was a
CONT sency oithe whole law being in opera
ton. The motion Of Oglesby TO striko out
tn, words above indicated was rejected 10y
vote of Of 80 10 Is.
Mir. Sherman moved an amendment
Limiting tho Uporetions OF the aoh section
- the original law as amended AID re-
ported by the coumittso to p"rsons owing
over $500.
Mr.. Thurman opposed tho amend men
/ o. ms colleague, sherman, though ID
/ thought il matter Of but little imror'
/ lance as there bad been but very few
cases whero the indebtedness did not oG-
| coed $4,000. lie gave notice that NJ the
| proper time no would offer an smerdmen,
| TO the original law so as 20 provide for
| proving accounts before Justice Of the
pesco or notary public instead of q regis,
! Ter 10 bankruptcy, or IL commissioners a.
now provided, Senate adjourned,