The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-12-14
TEXAS ASSIGNMENT LAWS.
Scnator.Elcct Linn iavors Import
ant Amendments.
THE PRESENT LAWS INEFFICIENT
lie Thinks the old statute should
lie Re-rnncted aud So Changed
as TO Preclude Dishonesty.

|
Wharton. Texas. December iS.--Thc dis
cu.ston ov,r tho nrorosed amendment.
! ,At., ~, =. ,,,,tat.,,r.
""'N" wiz w o'e'o" III NV w.
i on inc present assignment law " NJ tui
tide In this city. The Post man Interviewed
| s.na,or toh, II LIN, on IN. subleet. and
I -. "A, -, ,,, =, 49,, ,,,o,,.,
WIZ" ""' VIC i"""" eAP''sS''" w "'' '"
Senator Linn. you have noticed the dis
| cussiop now asitatinr the people over the
| ,r..,,, ...tr,,,,,, lao. 49,, .o,, c,.nos,d Ia
~" ~
'hc present STATUTE nave you an a't""
mont or remedy to susgest2'
"yes renlica m, sountor 81 have .cad
a.. ,,,,,...', -, , ,,u
'"'''''" '''''''' VI ""'''V' y.
sehs regarding the assignment law OF ls"'
and IL strikea me as singular that the al
Ieped grave dof,c,s and ruinous conso-
-. -. =,
'1'"' VI '"e ia" ""No "'' wv" ''''' WV
by number OF these writer's at an .ariier
date To anyone conversaui with the terms
OF the statute and with the decisions OF
the supfeme court on TIA various lruvi-
sionA. IL seems incredible that a Natute
responsible for or pormit,ius such violent
abuses against honesty and morality uboald
have remained unatnendcd for such a .reat
lcnlth OF time. As carly as April II, 1888.
IN the case VI inc La Belle WAGON 20. W
Tindali 60 Texas .All the sapra.nc court
speaking through Judge West sa.s: As
slgnmonts for the benefit OF creditors when
they come within the scope Of The act OF
March "A, 1879. are governed IS It's rro-
VISIONS. In other respects me ancient stat
ulcs oi 18th and 9th EIiSlba.h. lroat vnich
our statute OF fraudulent convoyanoes Is
borrowed and in part copied, and when has
been declared by Lord Mansfield to be it.
self nothing more than a declaration ly-act
OF parliament Of what th, ,ninuun lax was
from the beginuius. is SIN in force here.
The judgment rendered IN this case IN the
lower court declaring the conveyance and
preference void was based upon the fact
that preferences In the opinion Of the
court, were prohibited bv the act Of 1879
relating to assignments for tl~ benefit of
creditors. This judgment WAS not crnrurrtl
ia hy the supreme court hence siurr lSSl
at least. 1T has been the settled law o. tho
state that our statute applied only 10 su,h
cases ms came within tho scopc NJ lis nro-
Visions and whatever evil effects may he
rishtmlly attributable to Il, whether they
be affirmative or negative nhould lon,.
since have become apparent to the com.
morcinl interests OF The STATE. and II of
such vicious character AS now urged in,
law should and would have been amended.
There can be no doubt OF the correctness OF
the courts decision restricting thn pff,c,
within its express terms. In nv opiulnu
the right OF the dchtor in ordinary cnsr.
TO absolute freedom In his ,nu,..,t r.l.
Tors with his creditor regarding ,he my
non' OF his debit should be AS sacrtl and
uuholi to the samr extent as his Freedom
and right OF contract IN the t,,Ln,- ~ -
loht. This right and freedom NJ contrnct
has at all times hron rccorulznl IN o,lr
state, except where the rartic, h,y, in
.rnkoti upun the statute relating tn ,t.,u,In
lent cunvcyauccs
ANY construction of The as.tsu,nc,t inv
other than that made by The ,uprome our
Or any statute tnl,lur avon, 10 J.n,n,,
right TO nav or secure ANY nns or nn,,o az
hin creditors would opeu A 1rlJ n h,iv,,ln,,
-uiuoua indeed TO me ro,nrn,,cial 'n,,,r,sts
If the state. because vely few ,,sss of
lssigunicnt or trust conyry,n.as orrur
yhcte The question Of insolvency mr. that th,.
instrument was made in contamination ar
insolvency can not bc raised aud supnortci
~ a greater or less degree ,f proof
strange as II may seem, yet It liz true maj
! large uumhcr OF the people NOW interest
ny thomsclvos in the matter 10 not ap1,ar
o hc aware OF the fact that rnler the
resent law 1t is incumbent upon the debtor
making the assignment To expressly con-
ICY therein all VI his property except such
rs Is by law exempt from execution. to
lrlng him within the scope Of he asagn-
neht Ia" as II no" stands. As a reward for
III honesty In conveying every thing he has
unlcot 10 the process Of court he VIII be
"Sohit'u from ms debts only on the pay
heht "' ." Is per cent OF the tot.l IN.
'' nteuhesS que To consuming creditors. rhc
o'nhuh experience oil results IN riscs ~
F"'sn'hchi under the statute Is that very
CIV ever pay the ptoporiionate art of 1,
WIS ~ a.rep''ns cT.iltors necessary 20
'sphnrse 'he assignor from further liabl-
~. rms necessarily leaves The ahslgnlr