The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-05-01

| WITHOUT FINAL NEUTRALITY-SUSPICIOUS. OF The
SINKING FUND-yIRGINIA POSTMASTER NoMI-
NATED-JAsPER's LECTURES IN WASHING
TON, &C., &C.
From Our Regular Correspondent
WASHINGTON, April 30.-Before the Sem
ate met to-day Senator McCreary said to me
that he was sorry that the House had
amended the bill repeating the bankrupt
act, as he feared the Senate, in consequence
of the receipt OF letters from home, would
amend it again and thus delay repeal. Sure
enough, his fear was in measure we'll
founded, as the Senate consumed the day in
discussion OF everything connected with the
subject.
Messrs. Christiancy, Dawes, and Beck
wanted the matter disposed Of right away,
without reference to a committee, and Mr..
Christiancy moved to amend the bill so as
| to reserve the right TO proceed against as
slgnees who have been derelct in any way
in the discharge Of their duty. Mr.. Alli-
son moved to commit the bill 10 the Judi
ciary Committee, with instructions to report
such amendments to the present bankrupt
law as will rid it Of its Objectionable iea-
lures. He and Mr.. ingalls, advocated its
reference to the com mittee indicated. Mr..
Davis, of West Virginia, also wanted it re-
ferred, and expressed the belief that per-
manent and proper bankrupt law is nc.
cessity, and that a commercial nation like
the United States cannot get along without
one.
MR.. MATTHEW'S OPPOSES REPEAL.
Mr.. Matthews did not want an absolute
repeal. because he would not amputate
where limb could be saved. There are
those, be said, who declare that the present
law is Il refuge for all manner OF fraud and
yillainy, and hence ought TO be blotted from
the statute-book. But il you repeal it you
| will find, be said, that frauds will fol-
low so thick that they will darken
the very air. You will have then
all manner OF fraudulent confessions OF
Judgment, conyeyances, and mortgages. In
fact, every strategem which ingenuity can
invent will be rcsorted to under the assign
ment law, to which the repeal Of the bank
rupt law will remit those in debt. Its re-
peal will breed oppTcssors OF its own, and
rich creditors by threats will be preferred
to the poorer and weaker. lie protested
solemnly against hasty action, and appealed
to senators to make another effort to frame
wiser law than that under which we are
now living.
| SENATOR BEN. HILL.
While Mr.. Hill believed uniform bank
rupt law almost necessity, lie thought the
present should be repealed. n machinery
has grown up in its execution which gives
the creditors nothing in the way OF assets.
So well known is this in Georgia that few
creditors take the trouble even to prove
their debts when debtor goes into bank
ruptcy. The only way to get rid OF the
rings about the bankrupt courts is, he said,
by repeating the present law. Your com
mittee can then frame proper law.
INDIANA, MASSACHUSETTS, AND NEBRASKA.
Mr.. Mcdonald said: eli you commit the
bill to the judiciary Committee it means
that the bankrupt@,w is not to be repealed
this session." =
Mr.. Saunders, of Nebraska, wanted the
bill recommitted, because he believed that
repeal OF the present law would result III
more suits in the next six months than were
ever known in the same length OF time.
Creditors would proceed on the principle
"tirst come first served"
Mr.. Hoar said il lie obeyed the wishes OF
his people he would so for an immediate re-
peal. They have as perfect insolvent system
as can be devised. Before the passage OF
bankrupt act they were for it. The lawyers
of Massachusetts, who had learned law at
the feet Of Judge Story, were favorable to
bankrupt law because he believed in bank
rupt system and framed the act OF 1912.
Now they have had one, they all want 1t re-
pealed because Of the abuses and inconveni-
ences which have grown up under it. He,
however, in spite Of all this, was against re-
peal at this timc-at the end OF quarter
when there have been more failures than in
any three months for years.
VIEWS OF MIR. EDMJNDs.
Mr.. Edmunds opposed repeal of the law
at this time, and said that the repeal OF the
present law, while it would revive the ill.,
solvent laws OF the States, would not revive
them as to existing debts. No debtor coult
then be discharged OF his debts so as to com
mcnce business again with safety. There
are 100000 of businessmen OF all kinds
in the United States, and the law, as bad q:
il is, is better for them, he believed, than
| repeal OF it would be.
Mr.. CoNKL1NG SPEAKS.
Mr.. Conklins said the debate had beer
both instructive and surprising to him, bn
the speeches ought to have been made TIT
other day, and then they would, he thought
have had some effect. The repeal OF thu
bankrupt law was something decrecd By th'
Judgment OF both houses Of Congress, ant
the Senate voted for it--ayes, 81; noes, =
There is not now the ghost Of danger o
its not passing; he therefore could see NJ
objection to referring it to the committee
so that the amendment OF Mr.. Christiancy
which was necessary after the action OF tn
House, should be incorporated in it. Th
committee, under the instructions OF th
Senate, would Of course report without de
Law. Mr.. Allison here said, in an under
Itonc. that the act was not yet dead, Whei
Mr.. Conkling replied, !" Yes, there is nothin!
except death or the quarter-day more Ger
tain than the repeal OF the bankrupt law"
Mr.. THURMAN FOR REPEAL.
Mr.. Thurman, after moving to SO ament
1 Mr.. Allison's motion as to commit the bill
with instructions that the Judiciary Com