The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1874-06-24
IMPORTANT BANKRUPTCY DECls
HONS.

W Il ---------'--
oPISioNs DELfyERED At RICHMOND BY
CHIEF JUSTICE wAIrE-TiIH AMEspA
TORY BANKRUPT ACT OF 1879 uScoS-
sTlfuTIoSAI.--THE y .Ef0Hr 'ro9WAIyE
"A HoAEsTEADExEMPffoS UNDER THE
VIRGINIA LAWS. =. q. II
The United States Circuit Courtroom at
hichnlond was crowded. last Friday morn
ing by members o. the bar, representing
lail portions ot the stale hi.d by business
men oi the city. who baa been attracted to-
gether TO hear Chief Justice Waite deliver
the opinions O. the Court ~ Two Important
cases botl, decisions was rendered on
petlti"ns Tor q review OF bankrupt cases
lnnder the seeona section OF The bankrupt
act Inc lhrs1 oplnlon was gwen ~ the
case q panlei Deckert' Y bankrupt, lhe
substance Of the opinion IS given below.
THE LAST AatSDAroEf BANKRUPT ACT
=. ~ tSeoNsrirurioSAL. 81,
Mr. Waite said that BY article ALofthe
Constitution OF Virginia. adopted IN lSC9.
every householder Or head q family was
entitled, 10 addition to the articles then
exempt from levy or distress Tor rent to
hold exempt from levy ana sale under ex.
tecuticn, etc Issued on demand for any
debt heretofore or thereafter contracted
his real personal property, etc 70 the value
lof ", VOo. 70 be selected by himself. By
an act OF the Gereral Assembly, approved
June zf 1870. effect was gwen 70 tfls
provision. uudsr the orig,nal Bankrupt
law there was exempted from assignment
BY bankrupt such property as was ex-
empt from levy and sale uEder the ex'
eention BY the laws OF the state N Which
the bankrupt had bis 'domiclie when pro-
ceedIngs IN bankruptcy were begun: to ~
amount not exceeding that allowed BY thc
State Exemption Jaws IN force ~ 1861.
oy an amendatpry act passed > ane ., tot2.
tins provision vas changed 50 as 10 give
the bankrupt the benefit ofiihe exemptions
under laws IN force N ls.i. ln 1872
the. Court oi Appeals OF virginia nil-
anlmousiy decided lzZ hrau zoo. tliai
The provision q the Consttuiion referred
70. and the statute ngetect TO the.sirine;
50 far as thsy applied e, contracts entered
into or debt contracted before their ..
doption. were ~ violation OF the Con-
stitution Of The United states. therefore
VOID. on March D. lsi3' congress passed
another net declaring the exemptions al
lowed by the State laws existing ~ 1871
should De valid against debts contracted
before or after tue Adoption 81 such state
constitution aud laws. ' .saS
Ihe hrst question. dr. uaitc sa'h was
whether the act OF 1873, IN so lar as u
seeks. " the administration ot the Bank
ruPt law. 70 give and effect 70 the Ex-
emotion laws OF . State different from that
which Is gwen BY the State ITSELF. Is con-
stitntlonal. oongless mas ,he apoSerto
= eta6lish uniform laws On the subject o.
bankruptcies throughout the United States.
A bankrupt law to be constitutional must
De uniform and whatever rule e prescrioes
tor one y must tor all. tis provides that
property exempt irom execution shall oe
exempt from assignment IN one state, II
must 10 all. lfit provides that certain
kinds Of property shall not be assets under
tle laW ~ one place. y lLus. Mahe .he
same provision tor every other place within
which It Is 70 have effect. II ;squlte
proper to coniine the operation Of bank.
rupt law to such property as other legal
process could reach The act Of 1872 ex-
ccpts from the operation OF the assignment
,s,. enly such property as was actually ex-
emp.ed BY virtue Of the exemption law, but
more. ltdoes not provide that tae ex-
cmption laws as they exist shall be opera
tive and have effect under the Bankrupt
law, but that in each State the property
specified IN such laws. whether actually
exempted BY virtue thereof Or not, shall
be excepted. II in effect declares BY i,s
own enactment. without regard 70 the laws
Of the States, that there shall be one
anouutor description of exemption in Nir-
lgiuia' and another In Pennsylvania. In this
i've thiuk il i unconstitutional, and tllere-
fore void. u changes existing rights be-
tween the debtor and the, creditor Such
changes. y bc warranted ~ the Con