New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-19
TO PUSH THE TORREY BILL
NATIONAL LAW On BANKRUPTCY NEEDED
THE DEMOCRATIC TEIUMvIRATE" URGED TO
MAKE TIE BILL SPECIAL oEDEE-TIIE
MINORITY's WISHES NOT CONS.DtHhD'

MINORITY'S WISHES NOI CONS.DI-i'4'D'
IBY TELEGRAPH TO TIE TRIpuNEl
WASHINGTON bee. lo.-Ihc friends ol lie iorr'F
ronkr,ptcy bill nope that the Democratic members Of
the Committee on iulcs Of the House. WHO h'N" co."
troll Of the order Of business in that body ana whose
d.c.og n, 10 whether or not measure slall be con
sldcrcd 1, final Will lake avora c action tins week on
the request OF the judiciary Committee that I'm" De
allotted for consideration Of that bill The prospect
roi AS good rs 1t would be il the Democratic ullm'
rate" had DEMANDED rs IL dd in the case oil inc
Cland bill in the last session. that The request Tor
special order shall lie supported by petition signed Dy
. m,icritv NJ fine Democratic mcm6ers Of the l!oUsc
II NAV be observed here that under the beautiful
system now Ia vogue IN" members OF III" rlln"rY ~
the House are deprived OF any voice Whatever III te
decision whether pending measure ShiIl De CON
sidcr,d or not that a special ordcr may he made In
favor Of a bin II the three Democratic members 81 thc
Committee Rules agree and tia, II there is dlv
sion %; opinion among them rciltion signed by a
majority of the Dcmocriic members of the Ious" IS
required. The Committee on Ru,cs Is never called to-
fethcr until after the speaker and the other Two Demo
| cratic members have decided what 10 CO. so that
| Mcssrs Reed and burrows mag be aptly described rs
| honorary members OF that committee II will be-
perceived riorc, that The prospects and fate of TIE
| Bankruptcy bill depend wholly upon the decision Of
three Democrat Members o. tho Committee on Rules
Influenced. 1t may be, by petition signed by ma
| ioiy Of the other Democratic members Of the House
general and pronounced is sentiment In III" House
In favor OF the measure that It appears probable that
| Colonel oates. OF the judiciary Committee, who Is
circulating the petition eventually obtain III" re-
Quircd number Of signatures, bnt whether lie VIII be
able 10 do 50 until Congress shall reasonable after The
holiday recess j. rather doubtful on account OF the
| large number OF Democratic abscntccs. y great
many Of the Democrats who were not re elected have
not vet arrived in Washington. and vii! not be ready
70 attend TO legislative duties until after the
| ia W.
~ hopeful, but the promise Of success would be
| brighter If this not The short session o, 40
nothing House Of Representative, Among ih, sro"s
advocates Of the bill number OF lcadHs and III
! Nucn;lal Democrats including MosSrS. oates 81 Am-
| hama and BOatncr of Louisiana. both OF whom ar
members of the judiciary Committee; Andre" OF Mas
sacmsctts Bowman OF Iowa. Castle If Minnesota
Ctchincs OF Mississippi, Cate o. Arkansas Chapman o.
Michigan cobb of Missouri. Herbert Of Alabama Lap
ham of Rhode Island. and Moore Of Texas. ia speak
ing Of the bin recently, Mr. andrew aid
THE Representatives Of New England. l think. are
a unit I'm favor Of the proposed Bankruptcy "'i' 'u'
people want their rightS-nohinc more, nothing les
that IS II they unfortunate debtors they would
wish TO retain their exemptions and H. discharged. II
they were unfortunate creditors they would N'-h -
obtain their pro rata OF their debtor "-iat" nj small
cost and would be wiling, II their debtor were honest"
that he should try again. believe Tie passage Of
the Torrey lil Will result in the" ends being accom-
|
fair dealing and result IN enlargement Of commerce all
over tn country
Mr. Eoatncr aid: al favor the ToIfcy bill III inc
form ported by the judiciary Committee under th'
| present complicated ana Intellectual state law
! creditors are not equally projected against EHua
ucnily in NEel debtors. nor can hOHcA' Il owens De-
relieved Of debts beyond their powcr - pay tnd"r
! thc uroposcd law th" rights OF both classes VIII be
prot,ctcd Under the provisions OF this bill a crc4t
many worthy men who-c "ners"- a." cnmi'l b'
debt at present viii be di.cla@cd. il VIII ben"t
all purilc, To cominc~cal tdrslc n- In this mat ihc
security II will give 70 both IA" purchaser ana '"''r
viii cAclIen credit, and result r'dHc" the lh'"
. 81 commoGlHe, 10 consumers. IN uy judgment ia"
pyc.nt Congress should by all mcals enact tn,
measure"
Mr.. bowman said: "The fact that need com
mcrcal probate laws Is shown by tgc hot that al ih'
/ rtd,cs have enacted them. They cannot be- com
p-chcnsvc of the subject because The Constitution
reserved the power to pass such a Law t. Congress
and prohibited the States from inpiinne the o1dea
ton, of con.rlrt> The proposed bankruptcy law
ccn'a'ns the good feature, Of "a" STAT" Laws AMI
IS pc.fcct and complete II IS hc:cf,re clear t. me
taa 1t should b. passed and sapGscdc the vaiion'
site cnactmeuts.'
Mr. Castle said "Thc commercial relations DO
1--WE people IL different pats e the count are to-
in innate and extensive TO be- In cregcd with -, local
laws, especially a, they OF necessity iip"Ff'cL
Sin g We are comp He'd 10 have Insolvency laws. an
in .avOr Of the best pos. ib". ard rs Congress
l. the only tribunal autAorzcd to pas, such measure
by the Federal Constitution am In favor Of H.
Going 3d."
Mr. Catchlnrs said al an now and have always
been In favor Of enactment Of = bankruptcy law MS
a part Of the permanent statutes. AS great com
mcrcial Nation need D.; V" are the ONLY one 81
/ The prominent nations o! thc earth without one.
! commercial frauds OF greater o: les d"srr" are
daily occurrences: The enactment Of this measure
ali al a., lac
passage OF this bill would unqncsionAbly rebound
10 the hest Interests of the whole pee pc.'
Mr. Cato said In view OF the variance between
the several state Insolvency laws, and the adIudi-
cation, thereon, / believe 1t wonld Dc advantageous
10 all classes Of citizens 10 have them succeeds ii
By a wise and Just general bankruptcy law"
Mr.. Chapman said We should have. in my JUDI,
mcnt Il permanent system OF Bankruptcy. cont m
llitcd 10y the Federal Con ttuiion. The 1"rey bil!
Iroviics for economical and JudciOus administrations
Of bankrupt estates, and hence II nJt open To the
objections which urged against the old Law. Ny
constituents poor and rich aac are anxious 1t should
DC enacted"
Mr.. cobb sad d" There some features ia system
Of bankruptcy in which ! do not personally believe
but many Of my constituents and the sentiment oi
lie country iavos such law, ana l am therefore
willing 10 vote for which H. pcric tly far III u
Of is pION ions"
Mr. Ilcrbcr; said am In favor Of the passage b'
Congress Of good bankruptcy law at the present
sc,iOn. am no: familiar with th" detail, % Tie
bill reported by ihc judiciary Com'ht'c. bui have
great confidence In the wisdom Of that committee and
shall probably vote for the measure
Mr. iApAam aid " The passage Of tie IDTcT bill
will not harm or Ia The slightest degree abidgc The
rights OF any honest man, but viii simply provide Il
mcriicd discharge for honest unfJrtunacs, prevent
failure, which occur through the fright Of nervous
creditors, and provide Just rule for the distribution
If the assets OF those who become bankrupt. or II
desired prompt and inexpensive cOmpI omls" There
can be 10 question but That It's enactment Will pro
Tie iuc.Lsl, OF all CLASSES, without IN the slight
cst dcWCc failing the rights Of any except those
who dishonest There ought not TO be two News
about the dcs.iablity Of prompt action by CcrgH ~
.lIu . In INN MI LII Ia. f-.rD