The Republican journal. [volume] (Belfast, Me.) 1829-current, 1882-02-09
A Proposed Bankruptcy Law.

The matter Of a national bankruptcy
law is now before Congress, as it has been
nearly every session since the repeal of
the act of 1867. Many measures have
been submitted, but none have proved
satisfactory. The latest presented is by
Mr.. Townsend of Ohio, who claims for
his bill these advantages: First, the
expense of registers is dispensed with
second, the history of the proceedings is
kept at one place instead of two, which
were often widely separated geographical
ly third, the responsibility for the faith
full and prompt settlements of estates is
concentrated, and the whole matter is
more ettectually within the knowledge and
under the control of the Judge; fourth,
the expense attendant upon the calling
and holding of creditors meetings is
avoided also the wrangling among cred
itors as to who shall be assignee fifth,
the whole act as compared with that of
1867; is reduced in volume nearly one half,
without impairing its efficiency, and it's
language is simpllfed and easy of DOM
prehension sixth, as the responsibility of
the appointment of a receiver is with
the judge, who is impartial, the receiver
will not be partisan of any creditor or
faction of creditors seventh, under the
operations Of this law bankrupt EST ates
can generally be liquidated and finally
closed up within the period of six or
twelve months ; eighth, the exercise of
large discretion is lodged with the Judge,
who, with the receiver is responsible for
carrying out the minor details, and the
costs and expenses will not be much
greater than an ordinary case of assign
ment; ninth, the law does not encourage,
and as far as possible guards aga inst,
dishonest and fraudulent failures, while
at the same time it puts it in the pow er of
an honest man, who has been unfortunate
in business, to avail himself of its pro-
visions and obtain a discharge by sur
rendering to his creditors all his assets.
A bill that can accomplish all these
things is as near a perfect piece of leg
islation as can be hoped for. Portland
Press.
From the Marquis de Leuville of England, at
present residing at the Windsor Hotel, New York
To DIR. CLARK JOHNSON. Sir: ! think should
tell you something about your Blood Syrup, and
will do it in my own autograph. My doctors ih Eu-
rope decided together to send me to America for
the Sea voyage, but am afraid it did me no good
ana being very Ill indeed on tnS size OF the ocean,
some of my people brought me your Indian Blood
Syrup. This have taken, and although did not
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bitterness soon wears off, and it has done me so
much good, that now to my great joy, am enabled
to send you this note, to say that another man,
Day after day have improved until am at pres
ent really quite well l shall be charmed to allow
| you to make any of this that you please. and
my private secretary shall moreover answer any
| letter of inquiry that may come.
| am your obedient servant, LEUvII LIE.
AS an anthograph this document is interesting as
| lie Marquis de Leuvie is the young Longfellow of
| the other side; his poems and those of Tennyson
| having about the largest circulation in Europe.