St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-07-17
OUGHT TO Be PASSED.
What Prominent Editors Say
About the Torrey Bank
ruptey Bill.
A Unanimous Expression Fa-
VoPable to Its Immediate
Passage.
Che Bill Proposes TO Cut on
the Present Objectionable
Abuses,
And Give Us a Simple, Honest
and Fair Bankruptcy
Bill.

In view of the fact that the last con-
Tess considered the subject OF bank
uptcy legislation, as contemplated by
ihe constitution, and that the next con-
gress will be asked 20 again take up the
subject. a representative OF this paper
interviewed a number of visiting edl-
tors, with results as follows:
E. W. stephens President of the National
Editorial sssOciatiOn-I know more about
the author OF the TOrrey bankruptcy bill IMAM
about the measure itself; he attended college,
at Columbia Mo. where l live, and was one
of our disappearing students. While there
he did. remember large job OF directing
wrappers for me between the hours OF ms
reeiiations. Upon leaving the university ne
went 10 ST. Louis and entered upon course
at the ST. Louis Law school, Where Ne W EIGI,
mated a couple of years later. WINE
attending the law school he supported
himself by carrying newspapers on the
Globe and afterwards upon the Globe-DeIho-
GRAFT The fact that he has drafted ana aOVo-
Gates the passage of q bankruptcy Bill would
give me great confidence in the merits OF the
measure. lie has shown great industry ana
fine executive ability in the management OF
the bankruptcy agitation, ana from what
have learned IF the movement il seems alto
gether likely that MS bill will be passed.
Deserves support.
Hon Owen Scott, representative in con-
greSs from the Fourteenth district OF Illinois,
q resident OF Bloomington ana formerly OF
Inc Bulletin.
i would not care at this time to give an
expression TO an opinion as 10 a bill which
is likely to come before the next house, but
/ viii say in general way. from observation
under the old law, that II contained many
provisions which should not be in any law;
IL was possible 10 secure results under II
which were III favor of dishonest men. If
law shall be presented 10 congress when
shall make i easier for honest men to do
business and tend to discourage dishonesty
and punish those who are gilty of fraud,
shall be glad 10 give il my personal support
DR.. W. B. II. Hunter First Vice President
OF the National Editorial Association, ana
Editor of the Register, Lawrenceburg, Ind
! think there ought 10 be a general law unQer
which men who have honestly failed should
be discharged. The evil under preceding
laws has been that undeserying people were
benefited Very rigid provisions should
of course be made in such law to
prevent a duplication Of the frauds under
the old law SO far as l know, the Torrey
bankruptcy bill, which passed the last
house of representatives mas been favorably
received by the citizens Of our state. Our
people are for the most part OF the conserV-
alive class and such a law would not, l
think. be very much enforced in behalf of in
solvents but because Of its provisions against
the preparation Of fraud, would probably
add to the conservative tone OF our trans
actions and rebound 10 their general benefit.
think such d law should be in force for
reasons akin TO those which justify eXemp-
lions ana homestead laws.
one feature OF the law IN question which L
think is as it should be. is The granting
or a discharge 10 those who have honestly
failed without recurring as & condition pTec-
edent the payment of any per centum. Ny
recollection is that under the old law the eX-
pertinent OF requiring the payment OF per
centum was tried, but finally abandoned as
the wrong basis for the granting OF dis
charge That is TO say, a discharge is JuSu-
fed only on grounds of public policy, and is,
therefore only to be granted TO honest peo-
Pile; to say that it might be granted upon
any other basis than that Of honesty OF the
beneficiary would be to pervert the reasoning
which jusIifies discharge upon any ground.
Endorses &c.
Prof. James Mitchell, of the Arkansas Dem
ocrat Little Rock. Ark.-My attention was
first called to the TOrrey bankruptcy bill by
eX-Auorney General Garland. who sent me
copy of it and referred to ii rs the best meas
ure which had been formulated upon that
subject. | have since given the bill very
careful attention and concur fully in the
views expressed by Gen. Garland. The
measure requires q strict financial accounta-
hililv on the part Of the officers administer
ing it; provides only minimum compensa-
ton for services rendered; has made pro-
Bile, and altogether is a perfectly lar and
plain measure. 1t has been Endorsed by our
Arkansas Lumbermen's association, the
Fort Smith chamber Of commerce and
Helena chamber Of commerce, the Little
Rock board Of trade and also the Pine Bluff
board Of trade.
Simple Law.
E. A. Slack. Editor and Proprietor of the
Daily sun, of Cheyenne. WyO.-The TORY
bankruptcy bill is a perfectly frank, honest
measure. Too many laws bear evidence OF
ATTEMPTED labyrinths of wisdom. which il IS
proposed the legal fraternity shall explore at
the expense OF The business community
THIS bill is the simplest and most clearly ex-
pressed measure with which ! have ever
been familiar. Although il Is legal code
within itself, still il is so methOdically ar
ranged ana so teTsely expressed that It's
every word can be understood upon
Il single reading. The passage OF this
measure is designed 10 make both
debtors and creditors more considerate of the
others interest and therefore tend 10 de-
crease controversies and insure harmonious
dealings between men in all parts Of the
country The objections which we're urged
TO the old law and which finally resulted in
its repeal. do not apply TO the measure in
question ! have talked with some members
who seemed dislnclined TO advocate the
passage of Il new bankruptcy law because the
old one was deficient; 90 not think the
position teuable because all desirable laws
are but the outcome OF imperfect be-
einningS; all constitutions are but an
early constitution revised and modified
to meet the wants and pfOtect the rights Of
The people. l think congress ought TO legis-
late upon this subject at time when there
Is no selfish demand for the passage Of such
a bill, either from the creditor or debtor
classes, ana am firmly OF the opinion that
the ToTrey bankruptcy bill ought TO be
passed
Ought to Be Passed.
J. West Goodwin, Editor Of the Sedalia
Bazoo-I think that a general bankruptcy
law designed 10 promote honest dealings be
tween all men, to punish fraud in its every
form and 10 give discharges TO hon
est insOlyvents. ought to be passed
Of the whole people. The national
movement in behalf of such law IS headed
bv Col JAY L. TOrrey Of our state. Among
our prominent citizens who are connected
with the movement | mention MeSsrs. Leon
j. Albert, Cape GiTardeau; Rufus E. Ander
son, Hannibal; James 0. BToadhead. Adolf
plus Busch. Samuel Cupples, Anthony lit
ner. William E Schweppe aud z. c. Sim
mOus OF st. Louis; D. r. Flagg, Louisiana
Noah NJ. Givan, Harrisonville; George P. B
jackson. of Sedalia; Charles a. McCann,
Springfield: Joseph NJ. Patterson and James
81. Nave, of Kansas City"
Don't Know a Oh.
Col. P. Douan, Editor of the Argus Fargo
N d. don't know a d-n thing abOu
bankruptcy. theoretically. legally or polite
ally, but know everything about it practic
ally. l have pTact:ced ton other mems &C
counts-iu nearly half the states and terrific
RES of the Union. It's certainly subject il
which the editors of the entire countr,
ought 10 take an interest. Most of then
know something about il. Ii they don't
their hOwls for cord wood turnips anC
pumpkins on back subscriptions are frauds
Seriously. think uniform bankrupt Law
one Of the greatest needs of the country.
he a Benefit.
G. s. PeaSe. OF the Anoka County Cnior
Anoka. Mimi think a radical changl
ought 10 be made in the present condition D
the laws. and that the enactment OF an equit
able bankrupt law, uniform in its operations
would be a benefit TO the country, and par
ticulaIiy the Northwest.
It's All Right.
J. Zeamer. Editor Volunteer. Carlisle. Pa
When in the banking business, prior to en-
Eaging in my present newspaper enterprise
! gave the question of national bank
ruptcy law considerable attention, arS
reached the conclusion that the countr,
would be benefited by the passage Of such