The New Orleans daily Democrat., 1880-04-05


| In Senate amendment.
After line ACT, eighth Item. House coneurs
| In Senate amendment.
| In line All. Senate recedes from Its amend
ment.
In lines 47s, AT, 479, 4s3. 4s5, 4s9 and 491
| Senate recedes from Its amendment.
In lines 472, 47S, 484 and 400. House agrees
| to Senate amendment.
In lines 49s and 499 House concurs In Sen
| ate amendment,
In lines 500 sol. 5o4, sos, 5oe. 5o7 and sos
House eoneurs In Senate amendment.
| After line sos, In sections, register o
| voters, clerks and expenses Of election, 1880
| the House coneurs In the above amend
| ments and respectfully recommend that thu
House OF Representatives adopt the report o.
W. A. ROBERTSON,
Chairman, on the part of the Senate;
MAX FEAzEL,
Chairman, on the part OF the House.
! The report was read In full.
On motion Of Mr.. Ogden the report was
adopted.
Mr. Farmer moved that the House dc con
cur In the amendments Of the Senate as rec
commended by the conference committee.
The yeas and nays were ordered. and result.
ed as follows:
Yeas Messrs. Aitken, Allan, Archer, Arm,
strong, Atkins, Barry, Baskin, Biliiu, Blu.
chanan, Bulger, Bulow, Butler, Cade, Carron.
Cayolle, Cosgrove Grain, Curley, Deibel
Dlckerson, billiard, Dudenhefer, Essex Farm
or, Faulkner, Frazier, Gardner. Gibson, Col
san, Hail. Haney. Harris, .Heidenhain, Henry
Jackson of st, Mary, jackson Of Natchi.
toches. Joffrion, Jones. Kleinpeter. Lancaster
Landry, Legendre, Letten, Lyons, Mahoney
n Mllaqdon Nixon, Morel Morgan Munday
Pearee, Phillips, Phipps. Pollard, Pope
Pritchard, Quinn, Richardson, Robertson,
Roche, Schneider, Shaiffer, Shepherd, st
Clair, LIalton, Vaughan, Verret, Vincent, Voor-
hies, Weems, Williams Of Terrebonne, vii.
llams Of Morehouse, Wise. Yell, Young OF
Iberia, Young of St. Landry-SO.
Nays -Messrs. Davidson, Mcdonald, Nc
Dowell, Newsom, Varnado-5.
Absent Messrs. Devereaux, Feazel, Franz,
Hathaway. Herring, Ives. Kavanagh Kirk,
Lucke, McLeroy. stringfellow-11.
The amendments were coneurred In.
MIR, Ogden moved to reconsider the vote by
which the Senate amendments were con-
Cured in, and on his own motion the motion
to reconsider was laid upon the table.
Mr.. Farmer moved to suspend the rules In
order to take up House bill No. 249.
The motion was agreed to.
House bill No. 249,
An act to provide for the stamping or ex-
of Louisiana, in accordance with the ordi-
nance relative to the State debt,
Was taken up on second reading, under the
favorable report of the Committee on Ways
and Means.
Mr.. Robertson moved to suspend the rules
In order to take up House bill No. 299.
By q rising vote of II yeas to nays the
motion was agreed to.
House bill No. 299,
An act making the necessary appropriation
to remove the archives of the State to Baton
Rouge,
Was taken up on second reading, and re-
ferred to the Committee on Appropriations.
Mr.. Farmer moved to postpone further
consideration of the above entitled House
bill No, 249, until the House should finish Its
confederation of the Governors veto mes
sage on House bill No. 121.
The motion was agreed to.
SPECIAL ORDER OF THE DAY.
House bill No. 121,
An act to define the nature and prescribe
the punishment of the crime committed by
any president, director, manager or other
officer or owner of any private or public bank
In receiving deposits or creating debts after
he shall have had full knowledge Of the fact
that it is insolvent or In failing circum-
stances,
With the following veto message of the
Governor thereon:
EXECUTIVE DEPARTMENT. ]
State OF Louisiana, !
New Orleans. March 2g, $780, J
To tha Spaakar and Manhars pf tha Houua ~
Representatives:
l return to your honorable body, without
House bill No. 121, entitled
San act to define the nature and prescribe
the punishment of the crime committed by
any president, director, manager and other
officer or owner of any private or public bank
Ia receiving deposits or creating debt after
be shall have knowledge of the fact that it Is
nsolvent or In falling circumstances"
My opinion is the act Is too vague and In
definite to be operative, and while l regret
my inability to approve the act, | hope the
House may see the propriety of preparing an
act which shall make effective article 247 OF
5he constitution.
The act submitted contemplates and pro-
vides punishment for two separate and dis
sinct offenses:
First-The creation of debt or the receiving
,f deposits after the knowledge of the banks |
SeC0nO-lnS CTeaClOH OF ueDC OF Gn6 TeC6lV- |
ng of deposits after the knowledge of the |
falling circumstances of the bank.
The act creates a new statutory offense, |
and In order to properly understand and |
interpret the act 1t becomes necessary to de-
tine 'insolvency," and for it's proper detini-
lion we must look to the general body of the
law. Insolvency has no fred meaning at
common law and is susceptible OF various
definitions. Under article 1885 of the Civil |
Code of Louisiana, treating of fraud and the
avoidance of contracts, insolvency is thus de-
fined: "By being in insolvent circumstances
Is meant that the whole property and credits
are not equal In amount, at a fair appraise-
ment, to the debts due by the party"
And our Supreme Court, In constituting this
article, has said: "The fact that party is |
not able to satisfy all his debts with ready |
money is no proof of insolvency" 20 La.
Annual Rep 14S.
Mr.. Justice Field, of the Supreme Court of |
The United States, In Toaf VS.. Martin, 13 Wal
ace Rep, p. 40, said: "The term insolvency |
Is not always used In the same sense; it is
sometimes used to denote the INSULT cheney of |
the entire property and assets of an indivi- |
1ual to pay his debts. This is its general |
and its popular meaning. But it is also used
n more restricted sense to express the in-
- lok,A