The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-05-03
CONGRESSIONAL.
The Senate Still Patching the
Bankrupt Law.
Voorhees, Speaks on the Resump.
tion Aot.-.lts Repeal a Sow
ereisn Balm for All Our
Financial Woes.
He Hugs the Imitation DsIusion and
Predicts Activity in Trade and
Revived Prosperityas
The Result.
He Gently stirs the Communistio
Cauldron.
SENATE.
WASHINGTON, D. G., May 2.

PROPOSED REPEAL OF BANKRUPT Law.
Mr.. Thurman, from the Committee on
Judiciary, reported back the bill TO re-
peal the bankrupt law, with the amend.
ment periecting the clause in regard to
the rights not 10 be affected by the repeal
Of the law, and retaining the amendment
adopted yesterday, providing that the re-
peal Of the law shall take effect January
!, 1879. The amendment was ordered 10
be printed and The bill 10 be laid over IN.
Ill Tomorrow.
The amendment 10 the bill, IS reported
by the committee, provides that the re-
peal OF the law shall not affect The pend.
ing cases and all future proceedings there
In, and in respect OF all pains, penalties
and forieituTes which shall have been in.
Cured under any ofsaid acts prior TO the
day when this act fakes effect or which
may be thereafter incurred under any
Of those provisions Of any Of said acts
which for purposes named in this act
are kept in force, and all penal &c.
tions and criminal proceedings for
the violation OF any OF said acts,
whether then pending or thereafter insti.
tuted, and in respect 10 all the rights Of
debtors and creditors Except the right Of
commencing original proceeding in bank.
ruptcyl, and all the rights Of and suits
by or against assignees, under any or all
OF said acts, in any matter or case which
shall have arisen prior TO the day
when the act takes effect, which shall be
on the first day Of January, 1879, or in
any matter or casc which shall arise after
this act takes effect in respect to any
matter OF bankruptcy authorized by this
act 10 be proceeded with after this last
named day.
ANTf.RFsuMrTToN SPEECHES.
Mr.. Ferry called up the House bill 10
repeal the specie resumption act, and
read lengthy argument explaining the
amendments reported hy the Committee
on Finsnce. In conclusion lie argued
that the passage Of this bill would set.
tie our finances upon such 4 basis as
would regulate our iinancial difficulties
from the halls Of Congress to the wants Of
commerce.
Mr.. Voorhees, then took the (lOor and
read a lengthy argument in favor OF re-
pealing the specie resumption act. The
amount Of human misery, wretchedness
and vice which the law had caused could
not be estimated. II had overthrown
property values simply beyond the power
Of language to describe. Ten thousand
million dollars worth Of property had
been absolutely confscated. It was the
duty OF the American Congress TO so Leg.
islate as to secure TO the farmer his home
and TO the industrious mechanic living
wages. The toiling millions who arose
in the morning before light and
worked until after dark were con.
stantly being lectured on economy BY
dwellers in palaces-by masters Of hired
attendants. The poor were to give up the
luxuries which they had not in order
that the rich might have more. Far be
II from him 10 incite the people, but he
would at all times vindicate them against
the aspersions Of those who frat OPP
pressed them and then denounced them.
He referred TO communism, and said 1t
was the advocates OF extreme measures
those who favored the resumption Of
specie payments-who famed spirit Of
communism.
In conclusion he argued that the repeal
Of the specie resumption law would bring
light and hope 10 many darkened homes.
Il would cut the ligatures Of contraction.
Activity and prosperity would revive.
Popular relief would insure popular
tranquility, and turbulence in the labor
regions would cease.
Mr.. Gordon then took the floor with
the understanding thst he would speak
on Monday next, and further considera.
tion was postponed till that time.
After the executive session the Senate
adjourned until Monday.