Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1878-11-06

for the administration the law and the public
H Se ee sns an eerns sn he econ s nnd %
crees In short the practical efe't of this ndciimnae
and the equally ndserim9se pa6icaon o. tie "details o.
,e sen,on Tepos q tsse n,e5insnI ineTvleSe',
very ends " the law and iis Just administration
dney and % o nde %d outside No ef he on prisons" s se
ths extraordinary novelty in modern dealing with high
IL the statutes concerning the prison need amendment
en other ofe OF these institutions have nov ali re-
qu.e authority III the premises and they think the evils
txerse theft authority IN The and at least make such
discrmin lions aud limitations as III save both the
victs aud the people from what appears TO be in
tolerable pest
Specid, order-H DAB, for the settlement and
equal distribution among creditors Of the estates
Of insovent debtors. was taken up as the special
order for half-past ten o'clock.
On motion of Mr. EATON Of Danve, the House
resolved itself into the committee of the whole
and Mr.. Poland OF st. JOhnsbury was called to
the chair.
Mr. HOWE Of Castleton said the objections
that have been raised against the present insov
ency act will lie with equal force against this bill
He thought the act we now have had been care
fully drawn, was based on the experience OF n
sister state, and was no more cumbersome in its
execution than this bill. He said there are niany
men who have been struggling through the hard
times of the past few years, aud II we do moi
strike down the barriers Of the present insolvency
law, they will eventually pull through" and
pay one hundred cents on the u'nal, DUt II tne
insolvency act Is repealed their creditors will
strike upon them and remove the last hope OF
paying their debts in full. lie moved the com
mttee recommend to the House that the bill be
dismissed
Mr. EATON Of Danville moved that the COM
mittee recommend 10 the House that no insol-
vency law is needed in this state,
The question was stated on recommending to
the House to dismiss this bill
Mr. MARTIN of Londonderry said IA he I'm
tprstauIs the M the dis
of this bill we shall virtually vote to retain the
present insolvency law.
Mr.. HOWE Of Castleton did not so understand
the case. as We may dismiss thi. BILL and still not
he In favor of the law rs 1t now Il.
Mr.. MARTIN opposed the motion to dismiss
and preferred to have an opportunity to amend
this Till II not satisfactory to the people. lie re-.
ferred to several points wherein the bill could be
amended rs to obyiate the objections that have
been urged against IT, He did not believe we are in
position to say that we do not want an insolvency
law of any kind, for we are not yet beyond the eff
fects OF the war and the consequent hard times
that have followed in its wake lie thought best
to first find out whether we want any insolvency
law, and so preferred to act ON the motion Of Mr.
Eaton of Dinvle.
MIR HOWE of Casteton thought our present
Insolvency law needed amendment, but that fact
should not prevent our disnissing this bill.
MIR EATON of Danville said tins bill has one
virtue, which is brevity, and could be easily I'M
derstnod. and explained some Of the provisions Of
thebil which he regarded as favorable tpit.
Mr. BROWN of kichlord said he could see that
the bill is simple; and he could see also that II
required the debtor to pay seventy-fve cents on
every dollar before he could be discharged, and
the other twenty-five cents would not carry him
through the insoll ency court, so that the state
would have to make an Appropriation to help him
through. lie favored the motion to dismiss.
Mr. HOWE of Ludlow WAS in favor of an in
solvency law, and thought there were no valid
objections to the one we now have. But we
.ts.l.t nlt fln flAEs
any insolvency law. He believed in a proper
nation,l bankrupt act; but now that we have no
national act, he wanted state Insolvency law, T.,
stand between the debtor and creditor, aud protect
the debtor Unless we give the manufacturing
interests some more protection than have
done. we shall drive the manufacturing capt. Il
out Of the It ate He did not want to tail back on
the old grab law" as 1t would make lively times
among the debtor class of this state as soon AZ the
legislature adjpnrns
Mr. POTTER of Pawlet objected to this bill as
not perfect, in that 1t left the debtor an oppOr-
tunity to prefer his creditors by mortgagng his
property.
MIR SPRAGUE of Brandon said he is opposed
to all insolvency laws that release debtor from
the state debts and does not apply to debts ow ed
out of the state. lie said that while this law pro-
vides that II Il man can pay seventy five cents on
a dollar to the creditor a. il provided under this
bill to enable him to get discharge from his
debts, there is no need Of his going into bank.
ruptcy, for IL will take more than twenty five
cents on the dollar to carry him through. Under
the national bankrupt act the case was reversed
and II cost seventy five to carry man through
the cOuItS, while the creditor received only TWEEN
ty-tve cents. II we can pass any law TO enable a
man to pay one hundred cents on dollar, he
would be in favor
Mr.. WATERMAN of johnson, wanted TO learn
more as to the consitutonality OF the present law
and moved that, inasmuch ms Senator Edmund,
is present, invite him tn give his views AS I,
the constitutonality of our law; which motion wa,
discussed by Mr. Howe and MIR. Eaton, and over
ruled by the chairman.
The question Of recommending tn the House that
the hill be dismissed WAS then decided in the neg
alive by decided vote.
The question then required on the motion il
the form OF 4 resolution OF Mr.. Eaton, that the
committee recommend TO the House that no in
solvencv law IL needed in this state.
MIR. WATERMAN renewed his motion to invite
Senator Edmunds toaddress the Committee which
WAS opposed by Mr.. Martin OF Londonderry unit
we have decided whether we will have an inso
vency law.
The bill was further discussed by Mr.. EATON
of Danvillc, Mr.. Hubbard of Plymouth. Mr. CAM
of Newport, Mr. Sprague Of Brandon, Mr. How,
OF Ludlow Mr.. Holbrook OF Milton, Mr.. Brown o
Benson, Mr. Edwards of Athens MIR Martin o
Londonderry, MIR Howe Of Castleton, and MIR
Dart of Weathersted
The motion of MIR. EATON OF Danville wa,
then agreed to-ayes liz, nays "a, Aud the com
rose and rep rted To the House in accordance witt
the Vote taken in committee.
The opposition u insolvency laws, as developed
In the discussion, arose from the injustice tia
was inflicted upon the creditor class by reason o
dishonest practices that arose under it. Thos,
who favored an insolvency law did so on tn,
ground that to repeal 1t would be to resolve tn,
people If the state back to the old grab law
and lead to distress and calamity
Bills. etc introduced and refeTred-By Mr. ELY
GODDARD Of West Fairlee To revive and extend
an act to incorporate the West fairlee Railroad
Company; 10 com on railroads