The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1878-05-01
stracted he would nave slim yo.ed for it on hi,

own judgment.
Mr.. Hewitt Of New York said: am opposed
to the substitute, and If the amendments can
not be got 10 the existing law / am in favor of
the absolute and unconditional repeal of the
dangerous. We are marching steadily hack to
prosperity. We are to-day on hard pan and
was astonisbed tn hear the gentlemen from
PROFOUND their doctrines which they laid
down to-day. They seem to think that the
distress OF the country, that the shrinkaye of
values IS something local. Let me tell those
gentlemen that IL exists all over the civilized
globe. 1t is the reaction from speculative
era, and there is no remedy. When you have
had era of speculation YOU have to 60
through shrfnkage and much tribulation and
liquidatlon TO get back to the point where you
can begin again on the foundation of solid and
real values and of honest and true money.
Mr.. Frye said that the nearer the country
approached 10 gold basis the nearer it was to
safety. comfcgt and prosperity. He would vote
with the gentleman from Virginia (HunIon)
to refer the bRl.
ditional repeal of the bankrupt law. 1t was
rulnous 70 the business Interests of the coun-
try, and its repeal would be hailed by the peo-
pie as measure of relief
Mr. White Of Pennsylvania was in favor of
the repeal of the law.
Mr.. Butler said he would vote against the
repeal OF the law il he were the only man that
did So In fact he-would rather be alone. He
preferred TO play IA lone hand" If he did get
Sidered, and he warned the house that it had
better be considered in the committee. ''You
are" he said, governed ~ newspapers and
frightened at your shadows. You say we
OF the God who made Us and legisiate Like
men stand here and deal with the grave inter-
ests of the country. saying, we will examine
this grayely, quietly aud calmly You spend
a day over a dog fight and not an hour over a
great bill; you spend a day in attending to
little matter of a trout creek and Leave whole
river of corruption 10 flow"
Mr.. Wi lis of New York said he would offer
an ame ndment providing that the bill take
effect on and after the LIST of July, 1878; His
constituents recognized the fact that the re-
sumption of specie payments was an accom-.
plished fact. What was needed was the re-
vival Of confidence. and that confidence could
not be restored while the bankrupt law was in
Mr.. stenger was opposed to the reference of
the bill. He was in favor of its immediate
passage.
Mr.. Phillips favored the unconditional re-
Mr.. Calkins said he would vote for the pend
ing bill.
Mr.. Burchard said he Fbelieved it to be the
duty of the house, in obedience to the necessl-
ties of the case and to the demands of the
country, to repeal the bankrupt law. AS to
the distressed condition of the country, he
saw In ii the only natural effect Of the rise and
fall in prices, and no necessary connection
with the currency.
the gentleman from Ohio Ewing state that
the bankrupt law was for the benefit of strug
CLING merchants aud the laboring classes. The
only laborlng class that he (Potter) knew it to
benefit was the lawyers. the clerks, the regis
tiers and others connected with its administra-
ton.
Mr.. Lapham moved the previous question.
The previous question was seconded.
The motion to refer was voted down by a
large majority.
Mr.. Knots amendment to perfect the bill
was agreed to.
The question then required on the substitute
offered by Mr.. Mcmahon, and it was rejected.
The question was then taken on the passage
of the senate bill as amended, aud it was passed
yeas. a6; nay :, 30
The bill, SIS amended, is as follows:
''That the bankrupt law, approved March 2,
1867, title 81 of the revised sta utes and act
entitled An act to amend and supplement an
act entitled an act TO establish uniform sys
tenn of bankruptcy throughout the United
States approved March 2, 1861, and for other
purposes, approved June %, 1874, and all acts
in amendment or supplementary thereto, or
IN explanation thereof, be and the same are
n reby repealed: provided, that such re-
peal shall IN no manner invah ate or
affect any case in bankruptcy Instituted and
pending in any court prior TO the day when
this act shall take effect; but as 10 all
such pending cases, and all future proceedings
therein, and all penal actions and criminal
/ proceedings arising therein under the acts
I hereby repealed, shall continue in full force
/ and effect until the same shall be disposed of
! in the same manner as if the said acts had not
been repealed"
Mr.. Scheicher, from the committee on for
/ eign affairs, submitted the report of that CON-
mittee in reference TO the Mexican border
/ thereto, requesting The president 10 keep
| on the Texas border not less than
/ 5000 men to protect American citizens,
and authorizing the crossing of the bor-
der by United States troops until such treaty
stipulations shall be made with Mexico as may
secure an efficient protection TO American cit
liens and property. Referred TO committee OF
/ the whole.
Mr.. Hamilton, from the same committee,
submit ed a report and a bill in relation TO the
/ Venezuelan and Mexican commits ion. The
bill repeats the act for the payment of adjudi
Gated claims, authorizes the president to enter
into negotiation with Venezuela for an extern
sion of time for the convention of April %
1866, with regard to the filing and adj Indication
of the claims, and provides for new commits
sion 10 examine and decide all claims passed
/ upon by the former commissioners. Printed
| aud recOmmitted.
Mr.. Acklin asked leave to offer a resolution
for the appointment of a Sc ect committee Of
three members to proceed TO Louisiana and
investigate the charges of corruption and NAL
feasauce in Office preferred against A. NJ. Car
ter, special agent of the interior department
and Others in connection with the late seiz
ures of logs In that state.
Mr. Kittinger objected.
Mr.. Cox of New York introduced JONI
resolution for a joint committee, to be denomi
mated "a committee on census" to take into
consideration The proper measures to be EN-
ployed for taking the next census. Adopte