River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1881-12-29


enforce their judgments. New York
and Boston influences are now being
brought to bear upon the sub commit.
tee against the bills Of Mr.. Bonney, Of
Chicago, Hughes, of Virginia, and
Lowell, of Massachusetts,. The sub
stance OF the objections are thus sum
married by an eastern lawyer, who is
here to oppose the Chicago plan. He
has presented his argum ent to the com,
| mittee:
My opinion is that congress should
institute an entirely different system OF
practice in bankruptcy from that es-
tablished by the law of 1867. There
should be no register, assignees, OF
messengers, as such. The district
courts should, as to proceedings in
bankruptcy, be constituted courts oil
chancery, and bankruptcy proceedings
in them should be required by law To
be conducted according to the forms
and rules OF
THE ORDINARY CHANCERY PRACTICE.
The proceedings in eacn case would
thereby become proceeding to gener-
al creditors bill, modified by such rules
of law or of court as might be deemed
or found to be expedient. Every step
in each case should be taken under the
direct, responsible supervision of the
court in which it was pending, which
in each case should appoint receiver
of the bankrupt's estate and hold him
to rules of administration similar
to those to which ordinary admins
traitors or executors are held. The
court should appoint in each case a
commissioner for settling the accounts
of the receiver and taking all testimony
required to be taken and reported in
the progress of the case, performing
generally all duties usually devolving
upon Master Commissioners in Chan
cery."
CoNTRACTIoN--A LESSON FOR FoLGER.
WASHINGTON, d. c., Dec. 20-The
contraction policy of the administra-
ton is daily attracting more attention
in the east. The Sunday Capital to-day
says
Why contract the volume of currency
at ALP Why force again upon congress
and the country the aimless discussions
and fruitless controversies of the Forty
fourth and Forty-fifth Congresses F?
Judge Folger seems to have been seized
with the notion that the country is too
prosperous. In order to lop off the
superduous prosperity he adopts pol
icy which, while it may enable Russell
Sage and Jay Gould to knock the stock
market down eight or ten points, and
thereby cover their shorts, is calculated
to distress and embarrass the other
fifty millions of people who inhabit
those portions of the United States not
Immediately bounded by the curb
stones of Wall street. We venture TO
say that
THE POLICY OF SECRETARY FOLGER,
if tested tomorrow IN congress, would
be repudiated by two thirds vote, and
if submitted to the people, would be
reversed by maj ority that battles cal
culation. We have nc desire to aug
ment the perplexities of Mr.. Arthur, but
the man who applauds what has been
friend of his. With John Sherman on
the one hand and James G. Blaine on
the other grimly waiting for him TO
tumble, Mr.. Arthur cannot well afford
to make risky experiments in that
most delicate Of all administrative
provinces, the management of the ma
tional finances. These remarks are
not intended to impeach the motives of
the secretary. The question is one of
judgment. New York would doubtless
do the same, represented in the treas
ury by any other man.
THE WISDOM OF GARFIELD
in resolutely setting his face against
any New York administration of the
treasury is now more than ever appar-
ent. The trouble arisesfr defect
i've conception as to the actual size of
the country defect which Mr. Fol-
ger himself will be likely to apprehend
before he has any very protracted ex-
perience with congress. AS it is, the
result of his recommendation will be
to force a renewal of financial discus
sion upon congress, with the almost
certainty of an administration defeat
at the end-unless, indeed, the recon-
mendation should fall wholly unheed-
ed, which would amount to the same
thing practically, with a touch of dis
respect added.
BLAINE'S RECEPTION.
WASHINGTON, Dec. 20.-Ex-Secretary
Blaine and Mrs. Blame, this evening,
gave brilliant reception to the new
secretary of state and Mrs. Frelinghuy-
sen. Among the guests were President
Arthur. the president of the senate,
the speaker of the house and all men,
bers of the cabinet, justices of the SUI
preme court, nearly all members of
the diplomatic corps and ladies of their
families, together with other persons
prominent in Washington society.
Blaine declined to say anything for
publication with referenc to an invita-
ton to pronounce eulosy upon Presi-
dent Garfield in the memorial services
in the hall of the house OF representa-
tives. 1t is inferred he has not yet de-
cided whether or not to accept the in
vitation.
A NEW TRIAL PROBABLE.
WASHINGTON, Dec. 20.--Among the
lawyers here there is an impression
that the death of Juror Hobbs's wife,
and his absence to attend the funeral,
will eventuate in new trial for Gui-
teau. While counsel on both sides
consented Hobbs should attend the flu
neral, the idea is that the defense will,
if necessary, make use Of it in an effort
to get new trial, provided the present
trial ends in conviction. The court is
DESTROYS of according the defense every
right and every privilege, and abund-
ant caution against the possibility of
hanging man not mentally RESPONSE
BILE. Some lawyers think this precau-
tin, in event it is claimed that Juror
Hobbs's communication and converse
ton influenced his mind. and provided,
of course, the verdict will be one of
guilty, will probably induce the court
to grant new trial.
DIR. LoRING's REPORT.
WASHINGTON, Dec. 20.-In his annu-
al report to the president the commits
sioner of agriculture saws: "The ex-
pens es of the attempt to cultivate the
tea plant in South Carolina has been
somewhat curtailed without detriment
to the experiment One of the experts
tSaunders), who visited the tea farm
established in Summerville, S. c., re-
ports that 1000 acres of land selected
for the experiment are most of them
covered by heavy forest ground, the
soil being poor, hungry sand, of char
acter to support only the scantiest
kind of vegetation. OF this about 10
acres had been cleared and was under
primitive cultivation. On these acres
operations were commenced in Janu-
airy last. Space was prepared fer sow.
ing the seed and preparation made for
covering plants, which, when young,
sufsIar severely on being exDosed to the