St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-10-06
GOSSIP OF THE DAY.
Coming of If we recognize an
Il "a. -

Coming OF 1t we recognize an
actual and manifest
Autumn. elemental beginning of
the seasons. last We'd
neSday night certainly marked the pal
ing of the summers ric h glow into the
drear and chill of the autumn. The
student of nature, standing under the
glare of the electric light upon the Sum-
siptt avenue mast at IL o'clock Wednes-
day night, would have seen the fall
messenger at work in the shrub and
foliage of the Summit parF district. AS
If upon some mysterious design, the
leaves began to scatter everywhere pre-
ciSely at that hour. As the night deep
ened all the recollection of Wednes-
days glorious sunset was distanced in a
myth OF the past as the damp side of
the new season rolled under the feet of
the populace. Thursday morning the
pedestrian OH his way to business
marveled at the change as he muffled
deep down in the collar of his ulester.
How significant of the methods of nat
ure Wednesday night has been the
weather since that midnight hour!
OF Interest to The measure before
congress, known as the
Business Men. TOrrey bankrupt act,
which was passed by
the house July "a, and sent to the senate
Aug. 26, is q bill which is vital in the in
tereStS of all business men. The meas
ure as first proposed was reported back
by Senator Hoar with an amendment
which modelled the bill as a substitute
for the entire original. A study of the
proposed bill reveals some features
which seem so glaringly against COM
mereial equity as to warrant criticism,
md 10 hi
merchants and lawyers have made of it,
suggests that the measure may yet be
greatly modified before it becomes
law. In one of its sections it provides
that "the bankrupt shall be allowed the
same exemptions as are prescribed by
the laws in force at the time of the fill
ing of the petition in the state wherein
the adjudication is made.n This pro-
vision may be liberal to the embarrassed
of some states, but the fact that this ma
tiOnal measure preserves the miserably
dissOnant system of exemptions tn at
prevails in the various states of the
Union is enough to render it incompat-
IDLE. A bankrupt in the states of
Pennsylvania. Oregon, and Rhode
Island will have $500 of exemption. In
Texas he can have fortune. In Cali
fOrnia, Idaho and Nevada he reserves
as exempt 5000 in homestead tee, and
a large amount of personal property APP
purtenant. In Minnesota there is the
homestead exemption and $500 in per-
sopal property. If the mercantile COM
munity wants such an homogeneous APP
plication to government provisions, then
this general bankrupt law should be
adopted as it ROW stands. For instance,
in another section it declares that "any
person can be made bankrupt VINO
has suspended and not resumed pay
ment of his commercial paper for thirty
days" This is sad defect. 1t divests
a firm, which is solvent but embar-
raised, of ali security against malicious
creditors. 1t is neither wise nor just
to put such distressing power in the
hands of incredulouS persons who may
undertake to ruin a straitened debtor,
who may be temporarily unable to
meet his paper. The term should be
much longer. Four months would be
more reasonable time in which to make
the debtor responsive. So important
an act, however, will probably become
consistent as to man and commerce be-
fore our congressional lawyers place it
upon the tablet of our laws.