Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1878-04-13

husband and wife, OF father and
child, of neighbour and neighbOr: il
prescribeS the laws of marriage and
it directs the disposition of
our estates after death, regulates the
terms and conditions on which wills
may be made, and points out the
legal successors to lands and houses
and goods it. controls the business
affairs of men and makes laws for
Their. government it commands.
their services in peace and in war,
and compels service in offices of
public trust or in deadly battle.
There is no limit TO its power
other than that imposed by the peo-
pie themselves by constitutional
barriers. And yet it is said here to-
day that great and all-reaching as
is this power, however potent to
regulatelthe most delicate and inn
pOrtant relations of life orto interfere
with the business affairs of mankind,
however absolutely it may control
our property or command the servi-
ces Of the citizen, it is robbed of all
its greatness in the presence of n
creation of its own and cannot for
bid it to consummate meditated
wrong.
/ cannot bring myself to believe
that these corporations have any
other or greater privileges and i'm
munities than belong to citizens of
the United States, unless they have
been conferred by the Government;
and where in their charters is to be
found any warrant that the Govern
ment will not undertake to regulate
and control their business affairs as
it regulates and controls the affairs
of the citizen? In my State and the
State that is represented by the hon
orable member from Georgia, we
have law providing that, if a
debtor i'm anticipation of the time of
payment of q debt is making a fraud
ulent conveyance of his property
with view to evade the payment
of that debt, the creditor may sue
out an attachment and impOund the
property and hold it under the iuris-
diefion of the courts until the debt
shall become due. This is statutory
law; but has anybody ever gues-
toned the power of the Legislature
TO enact such? a.l1aA
Mr.. HILL will say to my friend
that, SO far from questioning it, [
concede it fully. l admit it is the
law now that if these companies, or
either of them, shall attempt to make
a fraudulent conveyance of this
property, or shall by their own act
impair the value of this property,
or shall in any way by their own
act seek to destroy the security of
the United States upon this proper
ty, you have an ample right to 60
into court and restrain them, and a
perfect right to take the property
out of their possession to that, eX-
tent.
Mr.. Bailey-I suppose, then, the
Senator from Georgia would rest the
power of Congress to legislate on
this subject upon the fact that there
was or was not a fraud in the con-
duct of these parties?
Mr.. Hill rest it upon the fact
that there was or was not breach
of the trust. / do not rest the power
of Congress to legislate; / rest the
power of the courts TO interfere; and
/ say your remedy is ample. / say
Congress can provide remedies that
the courts must administer.
Mr.. Bailey-This debt is not due
Mr.. Hill-Whether these cOmpa-
MES have been guilty OF, fraud or
guilty of breach of trust Is a judi
cial question.
Mr.. Bailey-That is not now the
subject of inquiry. ] am speaking
now of the power of Congress as a
legislative body to prescribe laws
for to control the conduct and bust
ness affairs of those who are subject
to its power as a~legislative body.
/ Illustrated the idea that was at
tempting to advance by referring to
a species of legislation that is very
familiar in the gentleman's State
and in my own. He contends that
Congress has no power to enact into
a law the bill that is presented by
the Judiciary Committee, and what
does that do? ItSimply undertakes
to regulate and control the action of
a person who is subject to the legis-
lative will of Congress, and not more
so nor less so than the citizen of
Georgia who undertakes to make a
fraudulent conveyance of his prop
erty. The gentleman spoke yester-
day of default, and / suppose the
idea is i'm his mind to-day that there
can be no action without a default.
The citizen of Georgia who is or
will become indebted in the future
is not in default, although he actu-
ally conveys his property, until the
debt becomes due.
Mr.. Hill do not agree with the
Senator. There may be several
kinds of default. There may be a
default in payment, which can only
occur after the debt becomes due !;
but there is a worse default which
by fraud seeks to destroy the debt
before it becomes due. In the first
place, where the default is one of
payment and occurs after the debt
becomes due, the remedy is in a
court of law. If it occurs by fraud
in advance of the debt becoming
due and endangers the existence of
the debt, then the remedy is in a
court of equity.
Mr.. BaiIey-The test of it then is
the danger of losing the debt, as l
understand. $50. .- "t.ty- t.'.i
Mr.. Hill-If that danger is caused
by the act of the party. If that
danger is the mere result of the nat
uraI course of events, a natural de-
probation of property, there is no
remedy, for no debtor is responsible
for the acts of God or the kings en-
emies or the natural course of events.
The debtor is responsible for hisown
act, and if by his own act he brings
the property into disrepute, destroy
ing the value of the property, or
wasting the property, or seeking to
make a fraudulent conveyance of
the property, then court of equity
will intervene and restrain him.
But the simple fact that the debt is
not due, the simple fact that the
property is insufficient to pay the
debt, the simple fact that the debtor
is insOlVent, are all misfOrtuneS /;
they are not crimes; they are not
frauds.
Mr.. Bailey-Or, the gentleman
should have added, if he is dividing
out his estate, or if a corporation is
dividing out it's assets among its
stockholders without regard to its
obligations to pay its debts, then
there is default.
Mr.. Hill. | concede that if the
stockholders are dividing out that
which is included in the mortgage,
xuhfrh i, hxv tho Tin,, ~