The Caucasian. (Clinton, N.C.) 188?-1913, 1893-01-26
IAer Favor sAs s4aKr.ps<y ssau.

day called upon the Executive
Committee Of the Farmers
Az lance and Industrial Union.
now In session In this city 10
ascertain the views OF the men,
bers IN the subject OF National
bankruptcy legislation, with re.
suits IS follows:
Mr. I'll. :. Loucks said: Il
have always believed in the pol
icy o, comprehensive eqnita-
bic bankruptcy law as provided
BY the Federal Constitution at
the time OF its adoption. The,
present is an suspicious time, II
think, for legislation by Con-
gress upon that subject. do
not OF course speak for the
Farmers Alliance and Industri-
nj Union, but as an individual.
Our Union is promoting many
reforms calculated TO benefit
the people; these benefits will
only accrue for the future. The
enactment of general bank
ruptcy law would enable deserv-
ing insolvents TO secure dis
charge from their Indebtedness
an participate without restric-
ton in the era of prosperity
which we confidently believe
will follow when our reforms
have been secured. | have not
had time TO examine into the
details of the Torrey bankrupt
cy bill which has been reported
favorably 10 the House of Rep
resentatives by its Judiciary
Committee, but from the exam
ination of it which / have made
and from what learn of it from
our friends who are familiar
with its provisions and the
movement which has been or
gained all over the country
for its promotion, / am thor
oughly satisfied that it is an
honest measure, and why Con-
gress should not act at once"
Mr.. |. +. Dean said: "There
are hundreds of thousands of
honest bankrupts in the coun-
try who ought to have dis
charge; as there is no adequate
law providing for it there ought
to be one enacted. | have ex-
amined with interest the pro
visions of the Torrey bill upon
that subject now pending before
Congress and am satisfied with
it in every respect except one,
that is it requires that upon the
filing of every petition in bank
ruptcy certain fees shall be
paid; | think it ought to pro-
vide that whenever a man has
no money with which to pay
rne filing fees that nevertheless
the court should be open to
him, and accordingly have ar
ranged with Congressman Clio
yer to introduce an amendment
to that effect. The bill contem-
plates fair dealing on all hands;
i. e., the debtor is to turn over
his property over and above
his state exemptions to a trus-
tee and get a discharge if he is
honest; the creditors who have
valid liens will have them en-
forced: and the unsecured cred
itors will receive prorata OF
their C aims quickly and at
small cost. This subject has
not been considered by our Ma
t.onal Union, but is certainly
an appropriate companion to
the reforms which we demand
| Col. H. G. Demming said !:
The Torrey bankruptcy bill
provides that every person, ex-
cept a corporation, may go into
voluntary bankruptcy. That
provision of coarse includes
farmers and the industrial
classes generally. 1t provides
that suits in bankruptcy cannot
be brought against those en-
lgage1 chiefly in farming or
the tillage of the soil, or wage
earners. I am satisfied that
these provisions viii prove sat
Iisfactory TO the members of the
Farmers Alliance and that they
will be individually benefited
by the enactment and admins
ltration of such a law. Ii the
ISub-Alliances of our organiza-
ton would consider and pass
nrrn THE Ss1 hiaot o10G fnrwa RI