St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-12-08
Bankruptcy Bill Forges New
Fetters for Them,
SAYS THE ELOQUENT MIR. BAILEY
His Brilliant Denuneiation OF
the Proposed Law.
SUPPORTERS OF THE MEASURE
Claim They Are Not Aetuated
by Shyloek's Spirit.
SLY SHOT FROM BIG TOM REED.

WASHINGTON, Dec. 7.-General de-
bate on the bankruptcy bill closed this
afternoon, and beginning tomorrow the
bill will be read by sections for amend
ment
MIR. Bailey, of Texas. will attempt to
secure vote on his substitute. which
includes plan merely for an involun-
tary system of bankruptcy, in order to
test the sense of the house III advance
and give the members an opportunity
to express their preference as between
such bill and the one prevailing,
which includes both voluntary and in
voluntary bankruptcy.
Col. Oates says he will resist the at
tempt to secure vote on the substitute
before his bill has been amended.
The bankruptcy bill has undoubtedly
lost much ground during the progress
of the debate, and its opponents say it
will be badly beaten, but Col. Oates
still maintains that if it can be brought
to direct vote it will pass.
During the morning hour resolution
authorizing additional clerical force for
the house aroused some opposition from
Mr.. Sayers and Mr.. Kilgore, and Mr..
Cannon, of illinois, took occasion to
chlde and reproach the Democratic side
with
BACKSLIDING
In their pledges of retrenchment and
reform. The resolution, however, was
passed.
Mr.. Cannon, of California, presented
for Immediate consideration a resolu-
tion inStructlng the secretary of war to
report to the house the greatest depth of
water obtainable In the harbor of San
Pedro, Cal, and an estimate of the cost.
Under objection it was referred to the
committee.
Upon the announcement of the eXpi-
ration of the morning hour the house re-
solved itself into the committee of the
whole for the further consideration of
the bankruptcy bill.
Mr.. Bailey, of Texas, in charge of the
opposition, antagonized it in a brilliant
speech. He referred to the many acute
financial perturoatlons in the history of
the country which stranded thousands
of our citizens and left as their only
refuge from their creditors the bank
ruptcy court. 1t was the only hope of
releasing and interfering their energies
SO that they could begin life anew. An
equitable bankruptcy law could work
40 possible injury to either creditor or
debtor. He felt confident majority of
';he house favored some proper measure;
cut, as to the proposed bin, radical diff
erences existed as to whether 1t was
proper measure. He did not so con-
slider it, and he therefore opposed it.
Its Objectionable feature was the cum
3rous. complex system of involuntary
BANKRUPTCY.
He thought the Objectionable features
of the pending bill were so inextricably
interviewer in the text of its plan that it
could not be amended and made accep-
table. In addition to the injustice of
the clause which would force delin-
quent debtors into bankruptcy against
their will, it was unjust ia provide
against preferred creditors in case of
financial distress. 1t discredits the state
Judiciary and commits all questions
arising under mercantile transactions
to federal judges. The bill should be
styled bill to diseStabliSh the state
courts and constitute federal courts
debt-collecting agencies. Much of Mr..
-3ailey's argument was confined to the
-egal phases of the bill, and frequently
elicited applause. In concluding he ap-
cealed to Democrats to beware how
Ehey passed bankruptcy law in the
resent condition of the country. The
Democratic party had never dared
before to pass such law, how
nare it pass the worst law of Its
character that any one has ever
dared to propose? "If we must pass this
law" said he, "for Gods sake let us
end this disgraceful farce of claiming
that we do it for the benefit of the
debtor, not the creditor; mocking one
with empty good will, giving to the
other the other the weapons its ayarice
craved. 1t may be that the debtors of
this land should be narrowed with new
penalties and hardships. If SO, let us
lay aside the mask aud forge their fet-
tiers with courage that will half
REDEEM THE SIN.
Let US aside false pretense, and avow
that we pass this law for the better
security of those for whom the courts
are now open, not in the interest of the
oppressed and stricken debtors.'
MIR. Bailey's eloquent peroration
evoked much applause.
In closing the general debate for the
advocates of the bill, Col. Oates divided
the house into the bulls and bears of
legislation. The former the creator OF
legislation, the latter the opponents of
all new legislation. All creators were
antagoniZed, their work picked to pieces
and ridiculed, and their motives i'm
pugned. The authors of this bill were
held up to contumely and scorn as act
uated by the spirit of Shyiock the Jew.
He proceeded to answer the various
criticisms. He explained that the charge
that the bill provided imprisonment for
debt was without foundation. He de-
MED that the bill had any harsh pro-
visions. and expressed his willingness
TO accept any amendments proposed in
good faith and sustained by honest ar
gument
During dialogue between Col. Oates
ana Mr.. benson, of Alabama, which
drifted into the money question, the
latter. who was an ardent free coinage
Democrat, spoke of day when ''Dem-
ocratic house" would
REMoNETIZE SILVER.
"The gentleman does not seem to