Western sentinel. [volume] (Winston [i.e. Winston-Salem], N.C.) 1856-1886, 1878-05-16

suaIe Oh ali IBaC me law, tor the time
heing, places at the disposal of credl-
ors. One of the effects of hank
rnpt law Is that of general execution
issued in favor of all the creditors of
the bankrupt. reaching all his property
subject to lew and applying it to the
payment of all his debts according TO
their respective priorities. 1t is quite
proper. therefore. 10 confine It's one
ration to such property as other legal
process could reach. A rule which
ope rates tn this effect throughout the
United States Is Uniform within the
meaning of that term, rs used in the
constitution.
The act of 1875 goes further. and
excep;s from the operation of the as
sisnment not only such property as
was Actually exempted by virtue of
the exemption laws. but more. 1t
does not provide that the exemption
laws az they exist shall he operative
and have effect Under the bankrupt
law, but that in each State the prop
erty specified in stich laws, whether
actually exempted by virtue thereof
or not, shall be excepted. 1t in ef
feet declares by its own enactment.
without regard to the laws of the
State, that there shall he one amount
or description of exemption in Vir-
ginia. and another in Pennsylvania
In this We think it is unconstitutional.
and therefore void. II changes exist
ing rights between the debtor and
creditor. Such changes to be war
ranted by the Constitution, must be
uniform in their operation. This is
not. The consequence is that the act
of 1877 remains unchanged, notwith-
standing it's attempted amendment in
1873.
The act of 1879 gives effect to the
exemption laws of Virginia as they
existed in 1871. The particular law
under which the bankrupt in this case
claims his exemption, was passed in
1870; it does not apply to contracts
made or debts incurred previous to
the time the new Constitution went
into effect. That certainly was not
before July 9Th, 1869, and the debts
due Smith, Wanderlink and Schindel,
were all incurred pre- ious TO that
| time. That of Smith dates from the
time the note was gwen upon which
| his Judgment was rendered, that of
Schindel from the making of the con-
tract out which the Indebtedness arose
and that of Wanderlinh from the time
of the execution of the note which .he
holds. As against these creditors thu,
| bankrupt is not entitled to the benefit
of the exemption.
The claim of Roberts & Co. requires
us to determine at what time the Con-
stilution, as far as it relates TO the
provision in question. took effect. 1t
is claimed nv the bankrupt that this
was on the 9th of July, 1869. when
the Constitution was ratified by the
people, and by the creditors. that it
was postponed until the 26 h of Janu-
arv, 1870. when tue act was approved
admitting the State To representation
in Congress. The Contract upon
which Rober & Co. base their clairn
was made, as has been seen, on the
18th of November, 1869
In our opinion the Constitution ol
i Virginia took effect, so far as 1t rela.
ted to the provision for exemptions
ON the 9Th OF July, l869-the day oi
its ratification by the people. 1t fol
lows that the exemption laws passed
TO give effect tn th &c are TO be ONE
operative for The benefit of It's citizens
from thaC date. AS against Roberts
& Co., therefore, the bankrupt is en-
titled to his homestead.
The order of the district codrt al
lowing an assignment of the home
stead as aeai ST the claims OF Smith
WandPrlink aud Scilindel is reversed
but it Is afffl tned as against that o
Roberts 6 Co.
1t we understand .his decision
l. means that oply such exemption
will hold good as is granted by th'
United States Bankrupt law. STATE
, homestead exemptions are of ht
avail, agains, debts previously ex-
istiDg. The North Carolina home
stead provision dates from 1865
The United States Bankrupt Law
t dates from Marchs2, 1867. Al
debts then in North Carolina ante
/ dating the adoption of the Cousti
E tuition of 1868, hold unless the Su
5 preme Court reverses Chief Justlc
: Waite's decision in the Ciicui
! Court of Virginia above quoted.
The great land owners of urea
, Britain are divided thnss Fcrty>tw
e holding 100000 acres and upward
: u holding $4,000 up to 100000
233 holding from 10000 to 5000
/. acres; 490 holding from 10000 t
10000 acress 611 holding from 6,
e GEO to 10000 acres; 1,O14 holdin
e from 1900 to 5000 acres, maxim
: in all a,512 persons who posse,
:. the choice real estate of Great Br
n tain-most OF them noblemen, wi
. own in right Of conquest, bcqnes
= descent and purchase, 3,910,57
= acres in Ireland. A revolutic
i = may, one day, come in England
!. change all that. The strength