Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-03-24

There is some expectation that Con-
grcss. at this session. will take up for
consideration the subject Of national
bankruptcy
There is growing sentiment in favor
of such law, because many good men
have been made insolvent during the past
year or two-but STILL in the South. at
least we doubt not that its friends are
In the minority as yet.
h is "a new illustration of the truth
the old provcrb, give a dog a bad name"
sc. The Old bankruptcy-law got a bad
name i'm many sections Of the South, by
reason of the rapacious men who were
appointed to administer it. This fact will
not be forgotten in this generation. And
now when we are really beginning to need
Il bankruptcy-la when it is possible to
get law and law-oiilcers that would be
great improvements upon the Old ones.
our representatives, in Congress are very
shy in committing themselves in favor
OF any bill. We understand their motives
and sympathize with them-and yet the
country can't get along very well much
longer without some sort of bank
ruptcy-law. Boon towns and other ven
tures-lncluding Legitimate" business en-
terprises-have bankrupted many worthy
young men, who would like TO make a
new start in life. and who. from one
cause or another. are unable TO make
satisfactory compositions with their cred
itors.
or the measures that have been before
Congress Of late years the Torrey bill is
best known. 1t was originated by Colonel
Jay L. Torrey, a st. Louis attorney. 1t
was first introduced in the Fifty-frst
Congress. when it was passed by the
House, but failed TO be considered by
the Senate. after being favorably reported
from the judiciary Committee.
1t also failed of enactment in the Fifty
second Congress. and, being brought up
IN the present session of the Fifty-third,
It also failed, the enacting clause being
stricken out.
1t was Immediately reintroduced, how
ever, by Mr.. Oates, with few amend
ments attached, and the original Torrey
bill constitutes the minority report Of the
House Judiciary Committee. the majority
having reported favorably upon the Bailey
bill.
The Baltimore Herald says. and we use
It's material freely, that the difference
between these two measures is considera-
bic. the Bailey bill providing only Cor
voluntary bankruptcy, while the Tor
rey bill covers the ground both for
voluntary and involuntary insolvency.
The Torrey bill has been recommended
by numerous commercial organizations
and prominent men, and has been re-
garded for years as the perfected idea OF
wise legislation upon this subject, and
there was much surprise when the House,
on motion Of Mr.. Bland, struck out the
enacting clause
The Bailey bill provides for only one
kind Of insolvency. ana. the Herald says,
the bill Is questionable on the point Of
consttutionality. "whiie the Torrey bill
has been submitted to legal opinion in all
its clauses. and there is no question what
ever In regard 10 It's consthutionality,
while 1t gives room alike 70 voluntary
and involuntary bankruptcy"
II our recollection serves us. the Rich
mopd Chamber OF Commerce endorsed the
Torrey bill. but In exactly what language
we can't now say. or all the bulls II
really seems TO he the best, but the great