Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1893-11-21
A NATIONAL BANKRUPTCY LAW.


ExrRAcrs PROM coNaREssMAN DING
LEY's SPEECH uroN 1HE suEEcr.
| / do not propose, at this time, to ill
cuss the details Of this measure, b
simply TO briefly indicate some reason
why e seems 70 me this Congress shoul
take affirmative action with respect
bankruptcy legislation.
And hrst, NJ. Chairman, u must b
agreed that the framework Of our gov
eminent contsmplates national bank
ruptcy legislation. The frAmers Of on
government, In constructing that grea
Instrument, the Constitution Of tn
United States, In drawing the line o
demarcation between tho state and M
tional power. intrusted bankruptcy legis
lati0n 70 the Congress Of the Unltet
States, and withheld Il from the legisls
lures OF the several states In the Union
II there d to be bankruptcy legisla
ton ct oil, therefore, comprehensive leg
islation covering the ground which th,
trainers Of our Constitution intended
should be covered, II must be national
Il cannot be simply state.
And, Mr.. Chairman, hold that ths
trainers Of our government, In intrust'
Ing the power to enact bankruptcy lawi
to the national rather than TO the STATE
authority, acted wisely, with keer
comprehension that such legislation 10
necessary incident Of domestic com
merce, and that We shall be false to the
highest interests Of the country II We
allow prejudice or dlstrust Of the M.
tional authority to lead Us to refuse To
enact such laws.
know that We have had bankruptcy
legislation for only comparatively short
periods in the existence Of this nation
three laws In all; the last Of which re
mained only eleven years upon the
statute books of the nation. ] think,
however, that we can discover In the
early condition Of the country and Ia
some Of the features Of this legislation
an explanation for the comparatively
short lease Of such legislation.
In tic early history OF this country,
before Interstate commerce hsd been de-
ve'oped to the extent that It has within
recent years, before the construction OF
railroads and telegrphs and the growth
OF the intimate business relations now
existing between every part OF this
country, which makes Texas CONNER
clally ne near to New York aud New
York as near to San Francisco ~ Phlla.
delphia Was TO Pittsburg seyenty.hve
years ago, We can see In the develop
ment Of the means Of communication \
reason, n necessity, for national bank
ruptcy legislation that did not exist fifty
or seventy-flve years ago. We have be
come q great nation commercially rs
we'll as politically. Every part Of this
country 10 commercially linked with
every other part. The merchant In New
England Il dealing every day With the
merchant In New Orleans and Galveston.
The merchant In st. Paul IL selling to
and purchasing from the merchant oi
boston every day. State lines have
been broken down commercially In the
progress of this nation.
Now, Mr.. Chairman, In consequence
OF the Improvement OF the means OF com.
munlcation 10 this country, aud the I'm.
mense development OF the Interstate
trade, Il has become necessary that
Congress should use the power which
the trainers Of this government placed
In the Constitution, and enact laws
which shall be national In their character
40 relating to bankruptcy and insol.
vency. We cannot defer action 10 this
direction without serious evils arising.
Indeed such evils are already here.
There have been elements In the
bankruptcy legislation heretofore enact
ed which have almost Inevitably aroused
I need not stop to recall
them, because you gentlemen are aware
of them. One Of those elements was the
unnecessary expense attending the ad-
Of our bankruptcy laws 10
the past. 10 great extent this bill has
overcome the difficulties which have
been 90 fruitful Of criticism In the past.
II seems to me there may be amend
ments adopted which shall serve still
more to overcome those difficulties. IL
cannot be possible, after our experience
In administering such law, with all parts
Of this country commercially Inter
linked 40 never before, with the necessity
upon 10 for sumo legislation In this d.
rectl0n, that the wit Of man cannot con-
celye uniform bankruptcy legislation ex.
tending from Maine to Texas, from New
York to Oregon, which shsll work with
facility, with efficiency, with justice, and
with reasonable satisfaction; secure
conserve the interests OF both
debtor and creditor, and permit the best
interests OF the vast business OF q great
people.
There IL second reason for national
legislation. Justice to the
debtor-humanity at least, requires 1t.
Under our laws as they exist to-day, and
AZ they must exist under the constitution
which witholds from the state the power
of releasing obligations to nonresident
Il IL not possible for any In
solvent debtor, however oppressed may
be his condition, to lit from himself any
to creditors outside Of the state
In which he resides by anything else
than absolute and complete payment.
lie may surrender all his property, but
the liability to pay the balance still
hangs over him.
Gentlemen know honest neighbors In
their several localities, just as ! know
neighbors In the state where ] reside
who to-day, being insolvent through
their mlsfortunes, are unable to engage
In active business because OF debts hang
Ing over them which they have con.
trscted to creditors In other states. III
we could know correctly how much the
country IL losing through the forced In.
activity Of q large body OF ins0lyents,
honest men who desire to be freed from
the debt burdens which 0ppress them,
aud to enter upon the work Of produc-
ton and distribution again 10 this coun-
try, and yet cannot lift their bands In
their own name to enter upon active
business, Il would astonish Us.
Now, Il Il inhumane, II seems to me,
In the legislation Of any country to leave
honest but unfortunate debtors in this
plight, this inability to habilltate them
selves and enter once more upon their
work ss honest and efficient citizens.
No other country does leave any Of Its
debtors Ia such position through the
failure to legislste.
And yet, because gentlemen pretend
to be fearful that any national leglsla-
tion may be used to make the condition
Of debtors worse, they refuse to take q
single step toward Tightening the burden
of men known to all OF US, who ere thus
unable to enter again upon the active
work Of life. Our country Is losing
every year through these men thus
forced to be inactive more than can
possibly be imagined.
I have heard during the past few days
lurid denunciations OF national
bankruptcy law, alleged to be an engine
for the oppression of debtors; and when
have heard them I have carefully
listened for an Intelligent explanation OF
such results, and have not ~ yet hear,l