New-York tribune., 1878-04-26
HOUSE OF REPRESENTATIVES,.

| In the House, to-day, Immediately after the
reading OF the journal the SPEAKER announced the
regular order to be the consideration Of the Senate bill
| for the repeal Of the Bankrupt Law.
Mr.. MCMAHON Dem, Ohio), who had charge OF the
b stated that at the end OF two hours discussion he
would demand the previous question.
| Mr. KELLEY (Rep. Penn) hoped thatthe House would
not second tho previous question, but that IL would
allow extended discussion to be had on the bill.
Mr. KNOTT Dem, Ky) thought there might be grave
doubts to whether the bill passed the Senate would
effect the repeal Of the Bankrupt Law lie would, there
fore. to amend the bill to repeal title 81
Of the Revised statutes and the Act approved June.
1874 entitled "An Act to amend the Act to establish an
Uniform System Of Bankruptcy" He would also offer
amendment To the bill 80 that penal actions Grim
under the acts proposed 10 DO repealed shall continue
IN full force until disposed Of.
Mr. MCMAHON Dem, Ohio) stated that he was au-
thOrized ny the Judiciary Committee TO offer substitute
for the BILL providing that the bill shall take effect i'm
edatey as to involuntary proceedings, except pend
ing proceedings and suits and shall take etGc after
the lst or January 1871 III regard 10 voluntary bank
ruptcy proceedings
VARIOUS REPUBLICAN OPINIONS.
Mr. CONGER lRep., Mch) favored the substitute.
People all over the country he said, deslrious of
knowing the exact time when this bill will take effect,
In order that they may have time to file their petitions
for voluntary bankruptcy. The House, under the lead
ership Of the gentleman from New-YOrk, (Mr Wood Is
bringing ruin on the country and destroying all Its In
dustries, agricultural manufacturing and mechanical
This threatening and impending effort OF class OF en-
thuslasts who may DO summed UP in the character OF
communists, FREQ traders and lntatlOnsts, ana VINO
threaten destruction to the general Industries OF e
country, should cause members To pause moment pc
fore they dryoi into voluntary OF involuntary IDh
rupcy men who have for years struggled 70 preserve
their credit and pay their debts.
Mr. FRYE rep, Me held that 10 Is not only the CON
stuOna right, but the constitutional nuly, OF Con-
gress. to and keep the statute books good
bankrupt law Such law is an absolute necessity 10
the commercial prosperity OF the country.
Mr.. LAPHAM Ire p, N. " thought that the time na9
now come when this Bankrupt Law should De pottea
the face Of the statute books He was In favor Oh
the Senate bill II the substitute were adopted, more
frauds would he pcrperaed during the eight months
during the eleven years that the Dill had beeh III
force. ,,-, -,,-.,
Mr. CHITTENDEN (Rep., n. " believed good bank:
rupt law TO be an absolute necessity The substitute or
the Judiciary Committee, he sad Is the most dangerous
proposition Of legislation which has been presented 10
the XLyth Congress. II IL should be adopted the
country would deprecate and deplOre IT, No Intelligent
man have failed TO observe that nobody has been ill.,
iured by involuntary feature OF the law, and here
proposition TO repeal that and 10 allow the vol
untary feature the law TO extend until the 1s or jan
unry There Is nothing less involved I'm that prop
osition than aton TO high carnival OF disaster
distress and calamity.
EWING MAKES A PASSIONATE SPEECH.
Mr. HUNTON Dem Va) moved 10 refer the bill to the
Judiciary Committee. He that at pc