The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-07-08

have NJ every stage OF tue proceeding uI'
rect supervision OF his transactions. The
court should appoint, IN each case, acommis-
sioner for settling the accounts Of the re-
oeIyer and taking all testimony required
to be taken and reported IN the progress OF
the cause, performing generally ali duties
usually deyolying upon master commits
sioners in chaneery. The chancery prac-
tice IL body OF rules which has grown up
from the experience OF centuries, and which
that experience, which is The best OF teach.
ers, has taught 10 be most wisely adapted
to the two cardinal aims OF securing non.
esty and efficiency from judicial officers and
res possibility 10 judicial administration.
II has the additional recommendation That
n has been studied as q science by The legal
profession, and will In consequence best
secure TO the courts, In the administration
Of bankrupts' estates, that assistance from
the bar OF which they always stand Ia more
or less need, and which Is often indispensa'
bic 10 full apprehension OF the matters to
be decided. I can imagine no valid reason
for discarding this ancient and approved
chancery practice, and substituting In It's
pIace n new, artificial, automatic system,
deliberately crude, strange, and bizarre.
/ am we'll aware that such system oil
practice would devolve considerably more
labor upon the district judges than was inn
posed by the system OF 1861; bat am sure
that this would not be greater than they
could perform. My own district (of East
ern Virginis) Is the one which suffered
most severely from the presence and opera
lions OF great armies during the late civil
war; as q consequence Of which there were
instituted in this court more than 5000
bankruptcy proceedings. Though con-
fronied by this formidable docket when /
came upon the bench in January, 1874, l
am free to say that, looking back over the
field now, would greatly prefer TO have
dealt with the cases responsiblg as proceed
ings in chancery than, 10 great extent, per.
functorly, as proceedings In bankruptcy,
for, though the labor imposed would have
been greater, | should have been compen-
sa'ed by the higher degree OF satisfaction
with which the work would have been per-
formed.
II a bankruptcy law should be passed
within the next one or two years, the num-
Der OF cases which would arise under 1t
would fall very far short OF that to which
the act of 1867 gave rise, passed as that act
was Just after a civil war which desolated
half the Union and broke down the estates
of hundreds of thousands OF men. am sure
that it would be entirely within the capacity
OF the Judges to deal with them as chaDcery
proceedings, conducted according to rules
of practice sanctioned by the experience OF
ages.
One other general suggestion | will ven
ture to prefer on the general subject. am
firmly OF opinion that the exemptions OF
property allowed to bankrupls out Of ,heir
estates ought TO be the same in every State.
Credit is given to men with reference,
amongst other things, 20 the exemptions
which they may claim by law in
the event OF insolvency; and there
fore, if q merchant in New York
IL brought to consider what amount Of
credit he may safely give TO the citizen OF a
distant State, 1t would be far better that the
exemption should be the same as that which
be knows TO be allowed TO the citizen OF
New York, than that be should have to cor
respond with distant counsel to obtain In
formation as 10 what exemption the citizen
asking credit could claim at his distant
home. There Is no means OF rendering the
exemption uniform and the same every
where other than by the fundamentally OF
national bankruptcy law. / think, there
fore, That it should be made condition OF
adjudication 10 bankruptcy that the bank
rupt should waive his right 10 all State ex-
emptions, and should accept such congress
sional exemption as the bankruptcy law
should allow, in lieu Of all other, and as his
sole exemption.
Having thus promised what | thought
very important to be said by way OF general
suggestion, will now answer your inter-
rOgatories Seridtim
/. To the first | answer that the officers
ought not to be compensated by salaries,
but by fees which should be such as are
now fixed by law for services OF officials
rendered in chancery proceedings.
2 To the second | answer that there
should be no such officer as register in
bankruptcy, and that il there he one, his
powers should be reduced. II, instead OF
register, a commissioner in chancery be
directed to be appointed in each case by the
court his powers should be such as are now
conferred by law upon master commits
sioners in chsncery.
8. TO the third answer that the amount
OF indeb edness necessary to bankruptcy
should be increased 10 five hundred dollars
at least.
4. To the fourth answer that | think
composition settlements should be con-
tinued; but that every settlement should
be subject, in every feature, TO the scrutiny
and approval OF the court.
5. To the ffth I answer that think a
liberal discretion ought TO be entrusted to
the courts in the matter OF the discharge OF
bankrnpts, subject, however, TO Limitations
carefully prescribed by law.
| will conclude by adding that / think, as
the result OF an experience derived from
6 900 cases. that rather than cucumber the
t., fcf nj ho 80 no L
rupts by such a machinery OF administra-
ton and system Of fees as was imposed by
the law Of 1867 it were better that no bank
rulhcy law should be passed at all
/ am, sir, most respectfully, your obedl-
Cnt servant RuRFRT w HUGHES