The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1878-05-15
THE sANKRup i Law.

INV w lttic rAUJe1l hatlbS uctu VVwucu
out last week, .he actionof Congress upon
the Bankrupt Act. Ii win be remembered
that ne hin for IL repeal passed ths sen.
ate BY an almost unanimous vote. aud was
then transmitted to the House fof concur
renee. The House passed the bill with
some slight amendments, and sent il back
to the Senate.
10 the mean time the opinion Of the U,
s. Supreme Golrt in referenceto the Houe>
stead was. promulgated and ihsspddeu clos
ing Of these two avenues 81 relief to the
debtor class cccasioned very genes alarm
a. il was seen to produce very wide spread
dis,ressst The prompt motion Of Dir. Mat
thews to postpone the operation Of the re-
peal juntil tie first Of January 1879 was
discussed and was forcibly sustained BY the
two Senators from North Carolina, hanson
and Merrimon. The former especially
made direct aud effective appeal to the Sc.
nate. showing that his constituents had sud-
DENY been deprived Of a protection guaran
teed to them BY repeated decisions Of their
own Supreme Court. but now authoritative
ly pronounced inrnlid aud unconstitutional
BY tribunal 81 still greater powers; and
that the combined operat,on,of the repeal
Of the Bankrupt law, and the reversal Of
previous decisioDs Of the Court Of North
Carolina we're full Of disaster to his PEG.
pie.
The resolution to refer the bill as amends
ed by the House TO tie judiciary Commit.
lee was adopted. and the Bankrupt bill is
not Jet Tue law Of the land.
m -.-----<-.---.r- s>~---
Ia another article in this issue. we re.
ferred 70 the efforts Of our Senators Ram
som and Merri,non to effects postpone
ment ofthe operations Of the bill until the
frst day Of January next. This was asked
upon the supposition that those persons for
whom the retroactive force of the Home.
stead had lost.its virtues under the recent
decision of the United States Supreme
Court. might still obtain some measure Of
relief and yet secure their bomesieads By
taking the benefit d the bankrupt law.
Kept alive BY the postpcnemtnt u its final
repeal for some months longer. a.. Iw.
Our Senators photographed 10 the Raleigh
dailies ON the 9th inst. that Chief Justice
Waite has recently decided a case in yir.
GINA ia which be declares that the pro-
vision Of the bankrupt Law making exemp-
lions against old debts is unconstitutional
This will be maintained as tile doctrine of
the Supreme Cour:, and il this be the case.
We fail TO see what good viii be accom-
plished by farther resistance to the repea'.
All that wss sought BY delay was for the
benefit Of those prejadice,l BY the deri>ion
on the Homestead. Judge Wsite's vir-
ginia decision denies them that advantage,
and nothing remains but 10 meet rnanfully
the calamity attached to hopeless ydebt-
edness. For se see No Profession against
the urgency Of rreiitorsif they are dis.
posed 10 press their claims.
ss-zs-=z--- $500
/ A Washington special 20 the Philadel-
phia Times says nex BONANZA Of evidence
| 10 the electoral matter has been discovered.
\ which will create such lale of feeling .,
will render the passage q tie quo warrant,
iii certain. Il begins 70 appear thai ID,
Tilden managers bad something 10 DO will
the late inteyiew in the World. and il ],
further asserted TINT the judiciary commit
tee viii be placed 10 possession Of inform a
/ ton that will sisrtls the country and force
= re.opeping Of The presidential question.
/ ..ss..s.s.s.ss,s~s.,.s 4sli -Es
/ With the Opinipp Of Judge Waite before
them. debtor. should hesitate. il the bank.
rupt Law j. kept in force some time longer,
10 seek IL help for besides the costs il
ruaehinery entails. il gives 10 aid IN tho
way ofextriratig,. In fact. i j. Jumping
out Of the trying pan iuto the FIRE.
Y f..s.ssssssss ~. sa 5sa ssgE zsa
4 Greensboro Patriot says the prospect Of
the repesi Of the bsnsrupt act has Increases
the busibe.. 81 the Bankrupt court 10 ibi
district. We nnd.rst nd here we're four
teen applications bed the pat week.
-s-.sss.s@.~ss..
!, TIE rnnr,er J"nrrsl i started 81 But
ler. announcement thai Le i made ia ID,
image 81 bis Maker.
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