The Douglas independent. [volume] (Roseburg, Or.) 187?-1885, 1880-12-11

II y
bill on the subject has for some
time been in course OF preparation
under the supervision of Judge
Lowell of the e. s. Circuit Court OF
Massachusetts. He has consulted
with the leading commercial associa-
tions and many of the prominent
leagaI and business men OF the ceun-
try, and it is believed that bill will
be ready to present to the Congress
to meet next week that will obYiate
the defects of former laws on the
subject and include new principles
based upon proper regard for the
rights of both creditors and debtors.
While it would be pleasant to con-
template a state of things in which
there would be no necessity for such
laws, it has not been found eonven-
lent for the States to regulate the re-
lations between the debtor and cred
itor classes without some sort of a
local substitute in the absence of a
general law on the subject. While
each State may and does regulate
these relations between its own citi-
zens, it can have no authority out
side of its own territory. A writer
in the american gives a history of
the bankrupt laws which from time
to time have been enacted in this
country and as often repealed, and
makes strong argument in favor of
the passage of some law of this char
acter by Congress. Three times has
al bankrupt law been tried in the
United States, and as often has it
been repealed because of inherent de-
feets and its failure to serve the pur-
pose for which it was enacted. On
April 4, 1900, Congress passed an act
to establish a uniform system of
bankruptcy throughout the United
States which by its terms was lin
tied to five years, but it worked so
badly that it was repealed in Decem-
Der, 1903. Its great evil results
prejudiced the honest public against
all such measures, and not until
1841, was another bankrupt
act passed. II operated but
little better than the law of 1900.
At the time of it's passage the coun-
try was in a distressed condition, and
debtors were not slow to take advan-
tage of a law which enabled them to
get rid of debts which were pressing
them very heavily. The courts were
kept busy grin nding out bankrupts to
the exclusion almost OF all other
business. As specimen of the work
ing of the law, it may be stated that
in Massachusetts alone there were
1889 debtors, with aggregate liabill-
ties of over $50, 900, 600, who filed ap-
plications to be adjudieated bank
rupts during the year and half that
the law was in force. On March 3,
1848, the law, which in the meantime
had been declared unconstitutional
by number of courts, both of the
United States and the several States,
was repealed. For period of
twenty four years it was left solely
to the State governments to enact
laws for the protection OF insolvent
debtors. On March 2, 1867, the third
and last bankrupt law was passed by
Congress, and for over eleven years,
until September l, 1873, with certain
amendments from time to time, con-
tinued in force. While the country
continued in a state OF prosperity,
the law seemed to answer its purpose
in a measure, but with the panic of
1873 there sprung up crop of
would-be bankrupts which, until the
repeal of the law, and even until
now, has kept the courts busy. No
one who witnessed the scenes attend
ing the last days of the old law will
soon forget the long list of anxious
but smiling debtors who waited at
the doors of the courts in every city,
to file their petitions in bankruptcy
before it was too late. On the last
day there were filed in New York
City 494 petitions in Philadelphia,
SO in Brooklyn, 130 in Chicago,
400; in Cincinnati, 100; and in
Cleveland, 100, while other cities
added their quota to the vast army
of debt shirkers. But, continues the
same writer, the evils that were born
of the old bankruptcy laws are not
arguments against law which will
protect the honest debtor and the
creditor alike. The folly OF the
former laws was in their permitting
rogues to ply their trade with the
stamp of legality upon 1t. Expe-
rience should guard against the repe'
tition of such folly, and in the case
of Judge Lowell's proposed law ii
seems that the objection has been
skilfully avoided. Another evil OF
the old bankruptcy acts, which has
been struck at in the one under con
sideration, is the enormous expense
which hitherto has attachs4to bank
ruptcy proceedings, and which al
ways comes out of the eS3itor's
pocket. An endeavor has been made
also to accelerate the disposition ol
cases involving the settlement of in
solvent debtors affairs, and in this
particular the proposed law stands
in a commendable light. Judge
Lowell may not have succeeded IL
reaching the happy mean which al
equitable bankrupt law should oc
cupy, but he has taken long stride
toward it. Such defects as this Law
may have can be discovered only af.
ter it has been in operation, but i
may be predicted confidently tha
they are not SO fatal as to leave tn,
law unworthy of fair trial.
A Washington reporter of the Worl
has discovered that the notes of his in
terview with Senator Conkling in April
1878, are fuller than they were trans
lated at the time. He has made litera
transcript, showing that the Senate
said: Hill, of Georgia, is well know
in his section as the champion liar of tn
South. Nobody in his own State woul
| believe him under OATH OF Senate
Butler, of South Carolina, the New Yor
| Chesterfield said HE is o cool an.
polished villain" The reporter furthe
states: .'In the published account G
the interview I left off the last word
But it is recorded in my note book, an
the Senator will not deny using the lar
guage. In Buffers case he added th
trite quotation of As mild mannere
man as ever scuttled ship" Senate
Hill is gentleman from Georgia, sal
and he halls from La Grange, while Bu
ler's address is Columbia, S. G.
Judge John v. Wright. the defeate
Democratic candidate for Governor {