St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-26
PORTLAND PRESSESIT
The Metropolis Of Oregon
Wants the Toprey Bank
rupt Bill Passed.
DUR Present Laws Work a
Hardship to Remote Com
mereial C~enterS.
senator Mitchell Offers Reso-
lutions Embodying the
Wishes of Oregonians.
4 Remarkably Peculiar Com
pany with Great Capital
Launched in Brazil.

WASHINGTON, Dee. %. : Senator
Mitchell presented to the senate yester-
day a memorial from the chamber of
commerce of Portland, Or, which en-
bodies a concise statement whycongreSS
should act, and rave six crisp resolu-
tons covering the grounds how it should
act, with regard to bankruptcy legisla-
ton. The memorial reciteS that the at
tempt of the states to enact bankrupt
laws have proved failures both because
congress aiore has power to enact such
laws, and because of the practical i'm
possibility TO secure uniformity of action
by the states. That the attempts of the
several states constitutes a severe pro-
test against further delay by congress
IN enacting a bankrupt law. That citi-
zens who reSide at long distances from
the centers of trade are entitled
TO have a law enacted which
will make credits more severe and
enable them to purchase goods at all
trade centerS at the lowest possible
prices. That, in the newly settled
states, the hazards of business are
greater than in the older states, the
opportunities for securing employment
II subordinate positions are less, and it
S therefore of the utmost Importance
that men who have honestly failed shall
De discharged from their debts. That
both voluntary and involuntary bank
ruptcy are necessary IN the best inter
eStS of the entire community. The
resolutions cover grounds as follows:
That the reservation to congress by the
constitution OF the United States of the
light to pass a bankrupt law imposes all
obligation to do so. That the attention
Of congress is called to the fact that the
several states have attempted to protect
the rights of their citizens by the EN-
actment of insolvent laws. and that
these attempts constitute a demand for
The enactment without delay of a uni
form, equitable law. That the best in
tereStS of the citizens of all parts of the
country, and particularly in the states
most distant from the great commercial
centerS, will be benefited by the pas
Il of Il law designed TO prevent the
preparation of fraud, punish wrong
doors, extend commercial credit be-
tween the members of the commercial
world, promote and foster commerce,
and discharge honest insolvents from
the burden of their Indebtedness over
the amount paid in dividends by their
estates. That the energetic. e%nterprising
citizens OF the United States who have
performed Tie pioneer work of develop
ing the great industry and of
the new states ought to have, in the
event of honest misfortune, the benefits
Of relief provided by an equitable bank
rupt law. That they protest against the
enactment of Il voluntary law to the ex-
clusion of an involuntary bankrupt law
and vice versa, and earnestly petition
Tor n which shall he comprehensive
of the whole subject. That the Torrey
bankrupt bill, as passed 10y the house of
representatives and now pending in the
senate, is a just and wise measure, and
the embodiment of the legislation au-
thoriZed by the constitution of the
United States on the part of congress,
and its enactment is therefore earnestly
demanded.