The New York herald., 1877-10-26
THE BANKRUPT LAW.

PETITION FOR ITS AMENDMENr-NAMRsR REPRE-
sENTINa ONE HUNDRED AND TwENrY-FIvE
MILLIONS OF DOLLARS CAPITAL SIGNED TO
THE PAPER.
Active steps are being taken By prominent NOR
chants in tho various lines Of trade In this city pre-
vent the entire repeal OF the Bankrupt law but 70
cure tho appointment by Congress OF q committee
commission to ascertain It's defects and recommend
the necessary amendments In order that there u i.
be a national law regarding insolventa Merchants
representing SIZE, 900 have signed tho following
petition:-
To Tuk hOyoRABLE THE SkNArE AND HOUSE or REPRE-
sESrArivEs OF THE UNITED STATES IN CONGRESS- As
In Of the resolutions Of the legislatures OF three
Of the states ana o The petitions ~ circulation tor the
chants and business men Of the city Of sew York. holding
ss pnsDds Equity N s sad a q se
nss convinced hst ansnt paonai M B.nsrau aw
United states and By the American people when. in the
power to cstabsh auniiorm rule Of uaurais.tion and
uniform laws on the subject q bankrup,ces the
squ ably regulated y Congress tenes to maintain the
union states aud Of the people Of the states and
believing further that uniform rule operative throughout
preferences among eredtovsn Of insolvency and tor
and vent may effect Just ccmpc'ition
an ann nsolyen, may obtain discharge from his
ss : n and ss' ~ s. s'sss anS
honest ana eommercs and national prosperity ana be.
book, and remit. the business aud credit system OF tho
Of tue tLirtyeish States Territories
anl restore in cases u insolvency the old corrupt system
Judgments and eoasys assAchmsnts iudsmen. and
,ng 80 the business community eondaco 10 wdsspread in
justice aud raud deranue business calculations and cripple
lug .ha. in number q ~ pr.y.cn; the present ssniap:
bodies to take action Tor its amendment
COMMISSION CALLED ron.
And TO the end Of making such amendment of the said
OF your honorable bodies Committee or commission may
be raised inquire into the WORKING Of shs bankrupt Jaw
Whether the In value and the number OF creditors
o .as 90 sn"s s
IN bankruptcy ought to be an Official assrnss o. h. p
itorswhether provisions cannot eo made 70 compel the
although no, in when tho proceeding pend
the examination Of o.asrup.. and wsne..o. with:
Saar Sa; expense ss law WIN 'has n
provision. the statute relative ...isn%snis prefer
II ss Ini IN @ma The
.rred whether The intsrpIs. put BY tho
the anendmsn. Of those provisions whe.heI bankrupt
Ms uvn Sad IN II @ atS s o
eeve discharge from his wi,hoat regard pro-
ysons for position should not D. altered
tnterest
tary wish Intent to defeat delay tho
operation Law osght not again 30 be prohbited
provisions for the punishment Of frauds
creditors oush. not TO be extended to all cases
OF goods purchased false tstiuns;
whether the fees sssgnees and officials under the
act ught not diminished whether the proceedings
and practice under sbe law not be smphed and the
expenses those proceedings reducsd-a these qasons
As we'll as Others address themselves the Judg
ment your honorable bodies Their determination W
yonr honorable bodies after such nani and reeomnen
dation by misson As your memoirs aists
have suggested after and consideration In
su m other mode honorable bodies may
vsabie, memoriasts have every confidence will bv
the the present. statute give 10 the country
Q Judicious and satisfactory Bankrupt law.
RkCoNsrRUcTIoS ABOLITION.
aiists who may have heretofore
signed petition Tor the repeal of the bankrupt law,
specially that such petition be ood
exercising their dsapprovai OF the law 70 stands
just and salutary principle Of law
eauaity among credSors In Of ins0lvsncy
opposed the law with such notifications as are above
aQt0d