Maryland independent. [volume] (Port Tobacco, Md.) 1874-current, 1884-05-30
NO BANKRUPT Law

lhe failure of Congress to pas a
bankrupt bill is to be- deeply regretted
and, is an evidence Of how I,,le the true
interest Of the people is held =, heart BY
those entrusted with the lsw.makiug
power Of the country. The bankrupt
law enacted during or shortly after the
war was found defective and wa. repeal
Cd and Congress has ever sine. BEEN
imkcrins at new bill which would cure
the defects Of the old, and ,,,e 10 an
honest ana unfortunate man. by yield
ing up all tie property he no..esscs. a
chance to be relieved from ri. debts.
and to begin business anew. The Sen
ate Of the present session Of Congress
passed bill carefully and skilfaly
drawn by that able Jurist, Lowell. and
winch was commonly deuomip ,ted tie
Lowell Bankrupt bill, but unfortunately
1t met with a decisive defe,, in tie
House OF representatives., aud for which
no plausible reason has been given The
United States stands alone among all the
o'her great nations, as the onIv one IN
which debtor, however fair and well
disposed he may be, and however ereJi.
bic and upright as may have been hi,
past business record, can force his credi.
tors to accept all the property he pos,esse.
in liquidation Of their claim, aud
thereby allow them to begin business
again under new, and possibly better
circumstances Most Of the State, il
not all have insolvent laws whereby a
citizen may be dischare ! from the psy.
mcnt Of his liabilities due co.citizep Of
the same state, but their provision, can
extend no further. No relief can be
had from his creditors domiciled in other
states, and therefore even il relieved
from the persuit Of his creditors Of his
own state, he is liable to continued bar.
rassment By his non residents claimants
Years ago when transportation was
limited aud there was but little inter
course between the citizens Of the ditE.r.
cnt states there was scarcely any neces.
sity for such law But at lbs day
when a citizen Of this county can
purchase his gools in New York and
by the raWdity of transportation receive
them as quickly as if purchased in BaIti-
more, such a law becomes an absolute
necessity.
A thrifty and enterprisng citizen
who has been unfortunate il business
should not be tied down BY the pressure
of debts that he cannot pay. An oppor-
tunity should be given him to renew his
energy and to begin business again +
But upon the failure Of Congress to pass
this law no freedom from such obIi.a-
lions can be had; under the yoke Of
indehtiness he must stand, and submit
to the pelting of bowling creditors. BY
some il is contcnded that bankrupt
, law affords persons the opportunity Of
repudating their honest debts, and
furnishes a cloak to the rascal to de-
fraud his creditors Not so; lie Sise
prevlsons Of all laws are something n.
senl,;ss ,s'..ssi y prO,oe,eJ SGasand
III persons are benefited The bankrot /:
,;on l. can only give debtors legal dybar!
mn from their debts, which they ares INC
600 ally bound to pay after dischn.s as b
o,ro. fore, and the purpose of su.b dsbar,
: o,u is to enable them to renew bu,gess
D pco- -, :" ps'''ou % '"se' lDei''Puc
yo,r dated obligations if they feel sispo
ed, as well as to econ
pr porous ever thereafter
.oco,. Congress has therefore in piusir
~, e to pass the bill not voiced the ,,nti.er
If, 10 # the better class of people vbohoI .
! d.. interest in the welfare and advnpanel
.,,n,1 of the country.