The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-04-24
OPINIONS OF LAWYERS
Norfolk Legal Lights Discuss the Nation.
al Bankrupt Bill.
THEY SEEM TO THINK IT lisa WISE LAW
Mr.. Thoihns IL. Borlnnd Does Not Like
20 See tho state Courts Stripped Of
Their Power 40 Adm mister InsoI.
vent Estates, ACKNOWLEDGEMENTS
OF Olhcr Prominent Lawyers.

The Nelson Bankruptcy bill which
passed the Senate Thursday. was Il
prime topic Of discussion among Nor
folk lawyers yesterday. The following
opinions were CLEANED from conversn-
tons with the lawyers:
MIR Thomas r. Borland. II have not
carefully read the bill now before Con-
| gross. a general bankrupt law would
III some respects, be q benefit to debt
ors as we'll as creditors, and the fact
That q great commercial country like
Great Britain has long had such law,
would indicate It's utility.
But then our old bankrupt law
did not give satisfaction Under our
dual system Of State and Federal courts
there would be, it seems to me, some
inevitable confusion and perhaps fric-
ton and confess that l would be re-
luctant to see out State courts shOrn
OF their rights to administer insolvcnt
estates. as Will. Of course. be the ease if
Congress passes the law
THE LAW Is NEEDED.
There is certainly need Of an nsol-
vent debtors law OF some kind, II for no
other purpose than TO give an honest
but unfortunate debtor the chance to
make new start in life, free from old
debts, when he has failed pcrchancc
through no want OF honesty or inteli-
gcncc or attention to business.
On the whole. 1 should prefer an In
solvent debtors law passed by the
Legislature OF the State Of Virginia, al
though l would not oppose n bill drawn
by Congress, carefully and with q Wow
10 an economical administration Of the
| inSolvent's estate and 4 just regard to
the rights of debtor rs we'll as creditor
ana perhaps with q reasonable eNemp-
| ton In the nature Of q homestead"
MIR. Wakes OPINION.
| AIR. Richard Wake said that he ques-
| f,ny Il f1N.,
| which would throw the administration
Of the insolvent estates into the Federal
| Court. He was not satisfied that the
Nelson law is just what Is needed as he
| had n seen it's text.
Mr.. Thomas w. Shelton said that the
| law, he thought. would prove beneficial
to both debtors and creditors There
was 10 question. he held, but that such
| q law was needed. Virginia credits
| have suffered by the reason Of our pc
| culiar laws, which make It possible I'M
! der some circumstances for Il dishonest
| debtor to prevent the collection OF n
| claim.
| Col. L. D. StarlSc said that he thought
the law would have n good effect How
ever, he had not read it through
MIR. MORRIS LIKES I,r.
Mr.. p. J. Norris delivered his opinion
| as follows: 1T was salutary and wise
| 1t is one OF the few laws passed In tho
! interest OF those who need relief II Is
void Of politics and will aid those who
are unable to help themselves. IT is
| the most liberal Of any Of the bills Of
| Tered The original Torrcy bill was
harsh to the debtor and favored the
creditor. The Bailey substitute was uf-
| ter the French system. The Senate sub
stitute just passed is simple and just
both to debtor and creditor. The alb
| sence OF any provision for involuntary
| bankruptcy is its most admirable fta-
| turc'
Mr.. John ]. Burroughs. said: IT think
| an adequate national law is necessity
| have not seen the text or the Nelson
! nlll ana would like to compare it with
J the Torrey measure before expressing
an opinion