The midland journal. (Rising Sun, Md.) 1885-1947, 1893-01-27
QUESTIONS OF THE DAY.
Washington Letter.
WASHINGTON. D. c., !
January II. 1898. (


Union, now in session IN this city, to
ascertain the views of the members ou
the subject Of National bankruptcy
legislation, with results as follows:
Mr.. H. L. Loucks said, II have
always believed in the policy Of COM
prehensive equitable bankruptcy law as
provided by the Federal Constitution
at the time of its adoption. The pres
ent is, think an suspicious time for
legislation by Congress upon that
subject. l do not of course speak for
the Farmers Alliance and Industrial
Union, but only as an individual. Our
Union is promoting many reforms
calculated to benefit the people; these
benefits will of course only accrue for
the future. The enactment of a general
bankruptcy law would enable deserving
insolyents 10 secure a discharge from
their Indebtedness and participate with
out restriction in the era of prosperity
which we confidently believe will follow
when our reforms have been secured.
I have not had time to examine into
the details of the Torrey bankruptcy
bill which has been favorably reported
to the House of Representatives by its
Judiciary Committee, but from the
examination Of it which / have made,
and from what l learn of it from our
friends who are familiar with its pro-
visions and the movement which has
been organized all over the country for
its promotion, / am thoroughly salts
fed that it is an honest measure. and
that it's enactment is designed to pro-
mote alike the best interests IF all
debtors and creditors.'
Col. Mann Page said, THE imper-
fections and bad administration of the
last bankruptcy law had tendency to
prejudice me against any further en-
deavors by Congress to leglslate upon
that subject, but from an examination
of the Tory bankruptcy bill now upon
the calendar of the House of Repre-
sentatives awaiting consideration, / am
satisfied that the impertections of the
old law have been overcome and that
its enactment and administration will
prove blessing to all of our people.
IF it were possible for Congress, by
refusing to legislate upon this subject,
to obviate failures and prevent dishon-
est acts by debtors, with property which
they have obtained on credit, l would
Of course oppose such legislation, but
such is not possible since failures and
acts of dishonesty are of everyday oc-
currence, and since the state laws are
diverse and necessarily imperfect there
cannot be any good reason why Con-
gress should not act at oDce.'
MIR. l. E. Dean said +: There are
hundreds of thousands of honest bank
rupts in the country who oughtto have
a discharge; as there is no adequate
Law providing for it there ought to be
one enacted. l have examined with
interest the provisions Of the Tory bill
upon that subject now pending before
Congress and am satisfied with it in
every respect except one, that is it re-
quires that upon the filing of every
petition in bankruptcy certain fees shall
be paid l think it ought to provide
that whenever man has no money
with which to pay the filing fees that
nevertheless the court should be open
to him, and accordingly have arranged
with Congressman Glover to introduce
an amendment to that effect. The bill
contemplates fair dealing on all hands
/. e., the debtor is to turn over his
property, over and above his state
exemptions to a trustee and get dis
charge if he is honest; the creditors
who have secured valid liens will have
them enforced and the unsecured
creditors will receive pro rata Of theil
claims quickly and at small cost. Thi'
subject has not been considered by oul
National Union but is certainly %
appropriate companion to the reforms
which we demand"
Col. II. G. Demming said, "The
Tory bankruptcy bill provides that
every person, except corporation, may
go into voluntary bankruptcy. That
provision of course includes farmers and
the industrial classes generally. 1t
provides that suits in bankruptcy can
not be brought against those engaged
chiefly in farming or the tillage of the
soil, or wage earners. / am satisfied
that these provisions will prove salts
factory to the members of the Farmers
Alliance and that they will be indi-