New-York tribune., 1875-02-11
THE JOHN HANCOCK LIFE INSURANCE CON
PANY DECLARED SOLVENT
QUICK JUSTICE FoR BUSINESS MEN
THE cnuRT OF ARBITRATION.


ApGIruRNT OF ELLIOT c. COwDiN IN FAVOR OF Az
ENLARGEMENT OF THE SPHERE OF THE COURT.
The Merchants Court, as the Court Of Arbitration
organized by the Chamber Of Commerce with tho
consent of the Legislature has come to be called.
was brought TO the attention Of the Judiciary Com
mitees of the Legislature by Elliot Z. Cowdin yes
tertlay at Albany He spo'ye In favor OF tho
amendments to the act by which the Court was con-
stituted He said in the course of his remarks
II must be generally admitted that hitherto our legal
tribunals have been altogether Inadequate 70 speeoV
investigate and promptly decide upon purely con-
morcia ana business disputes. only express the gen
era feeling of business when say that they desire
above all things that their controversies be rapidly az
we'll os equtably decided In the vast noJorV VI
cases promptness OF decision, by competent ana
disinterested arbitrator Is their ideal OF lastice'
Procrasnation is the thief not only OF their tlDc'
but of their energies Prolonged lawsuits arc
the tumors and OF business men, eat'hs
into the very substance Of their life. What feeling
of security financially, any man have IT. among
transactions amounting often TO hundreds OF tho"sd'
of dollars month distributed among scores OF lnuVi
uals n norton of these are held in doubt for many
weary months, and yearsf To the business man.
trdv ustce ia practically injustice. speedy verdict
against his own Judgment Of the merits OF his case
would often better for him than slow VERDICT con-
Hrming it because, independent or the lneVtaOe eA
penses incurred the and worrmeDt OF the contro
yersy distract ElS mlul, dLu ouOtJ iuP"' S'S
to manage the everrecurrng emergencies OF his daily
affairs Moreover prolonged lawsuits lock up or cut OH
the merchants resources well as undermine MS ell
ergies. Indeed, gentlemen, have we not sometimes
seen business harassed. so completely unsruha'
by cases postponed appealed that they nave az S'
lost confidence in the equity OF legal prOceedingi They
have felt the Implied in the remark ot M sap
sea- IN Dlckenss last novel; 1t IS not Sumclent, ne
certain; it be mmOrally certain-that Il, tRay
The system OF arbitration which has gradually lounn
source in the Justinan jurisDrudence Tribunals for
! the settlement OF commercial disputes now exist IN
gum, Denmark and indeed for the moet part tnrongh
out Europe. France took the lead IN e.taDin tneso %
merce virtually Instituted In 1862 during the reign Oh
Francis H. though It has epesa IN s1e ami
notifications has practically existed with NIUE lneI
Tunon for more than 800 year In the language OF tho
original decree OF 1863 Is object the shortening Of
lawsuits and adjusting the dherences Oetween tnel
chants trading IN good faltb, wi,hous oeins ie'''u
! within the suOtleties OF the law.' ,, r.,
| The French Tribunal OF Commerce now decides; %
On all demands of commercial character IN which tue
without appeal regardless OF the amount inyoiFeu w
On all demands of which the principal shali not e1Gsoo
in value 1900 francs o. GA al demands ior eo9lPe oo
saion or damages, even II these should exceed I'0V
| francs when added to the principal demand.
Under the French Commercial Code, all questions he
Crre9 Tween pa prron C5perbg vita tie Tribunal OF
Commerce. is the OonSeR de Prudhommes ior deciding
among other things OF minor Importance differences De-
tween manufacturers %oIancn Sp t the yb1 ~
and laborers In general suecl 10 tne rRh OL
Now. lot Us pass to Germany. A congress Of juriss
that the Court OF Arbitration OF the CITY Of Hamburg
was the BEST because 1t introduced the legal element IN
the person OF the presiding judge. In Denmark where
the Court of Reconciliation as it is called, has existed
1885, presided over by judge OF legal qHailhea
tons, it is especially popular both Win the Govern
ment the people Parties before resorng to conrs
of law submit their disputes to the Court OF Reeonela
on which may, under certain circumstances advise an
action at law but great majority or the cases are de-
eided by the court ITSELF ,,,.,
England, early 1903, law was enacted Wnlcn
declared that for promoting trade and renderins the
efectual III all cases, for the 1nal determination
of controversies referred TO them by merchants ana
traders" all business men who agreed TO SUP n thet
suit or quarrel to arbtraors should De Legally oOnnd
the award that the decisions should DO made RUE 40
award should be liable to be punished for contempt OF
court unless corruption undue Influence was proved
courts Britain to deal promptly and Justly with
commercial questions yet, TO some exteut. exists.
briefly state for zealousy supporting the
proposed relating to the Court of Arbitration. now
prompt passage. The extent and rapidity Of CONNER
ca operations necessitate that justice should be more
great commercial centers, like the City OF NewYork4
mercantile disputes ought to be decided oy l9dse ta
miliar with commercial matters aud usaees. IAe pro
posed act Is essentially the same as the Law or last WIN
| ter wit n two three points OF difference:
l. Tho act now asked Tor eodides aud puts In PLAIN
language and brief sections what Is comprised IN larger
and somewhat inteigible sections OF the existing
law. Tnis cOdihcaton is chiefly the work or the state
Revisers three gentlemen appointed 6y the LeS,atnre
Tnroop, and WerDeT) In pursuing their duties they
went the act OF last creating the Court OF Ar
bitratioD. and eOdihed the law. making Few amend.
ments and dividing the substance OF the act into Dreter
and comprehensive sections.
| q Another and most important difference between
the existing act ana the proposed act Is tnat ne ster
charges salaries OF the arbitrator and the CLERK upon
the County of NewYork and requires the Chamber or
Commerce TO bear the other expenses including room
the attendants stationery printing, tue ETC.
This proposed amendment proper for the Court OF
public court, and Is not intended Tor the
sole beneht OF the Chamber. As matter or fac many
persons who members OF the Chamber resort to
the court, and allowed by law to do so. IL Is In
tended for the whole commercial community aud Ia
the extent OF the business 1t ransacs the oher courts
relieved OF much litigation.
3. In the NewYork Common Pleas there are six
judges also In the NewYork superior Court there are
six judges. II the Arbitration Court, having bnt one
Judge, shall dispose one-sXth much business
either two courts named. IL has already assumed
much public Importance, comparatively, as they;
whereas there be doubt the Court OF Arbitration
does business than Onesxth OF that OF the New
York Common Pleas or Superior Court.
OF the advantages OF the Court or Arbitration
may estimated by glance at the nature tue Ousi
and the character Of tried before the court
it, opening In October last (but few months ag0)
II has heard aud decided numerous htigaied eases;
among them partnership claims for salaries, for
goods sold for breaches OF contract, for freight
arising bills of adng, on shipments Of goods from
abroad, marine Insurance, etc. But by far tho
greater part the business OF kind that leads
character. Partners who have disagreed have sought
arbitrator who has heard them and given his decis
ioD which has been accepted aud acted on without
public trial any record VI the decison 10 the evident
satisfaction or boh parties The position OF arbitrator
suggested tigants the advantage OF Withdrawing
their actions and referring the questions at issue 10 hun
frequently in his Office, aud often Ia the rooms OF
the Chamber OF Commerce.
Messrs. William T. Dodge, jackson s. schulIs Elliott
+. Shepard, Gustav sohwab. and Henry T. spau1dlns
also argued in favor OF the measure.
-------------