Evening star., 1897-04-06
TWO SPEECHES MADE
Senators Elkins and Lindsay Addressed the
Senate at Length.
The Former Discussed American Ship
ping and the Later Advocated
q Bankruptcy Law.

Lindsay of Kentucky advocating the pas
sage4of the bankruptcy bill. known as the
Torrey bill, now before the Senate. Laie
in the day joint resolution by Mr.. Bate of
Tennessee was agreed to. directing the sur
geon general of the marine hospital service
to aid the Mississippi river flood sufferers
by the distribution of tents, blankets. food
ard medicine under the epidemic fund of
1893. and to purchase further supplies I'M
der the present epidemic fund for similar
distribution.
When Mr.. Elkins closed joint resolution
was offered by Mr.. Bate CTenn), and agreed
to, for the relief of the flood sufferers
alcng the Mississippi river. 1t provides
that the President shall direct the surgeon
general of the marine hospital service to
distribute tents blankets, food and medi-
cines remaining under the epidemic fund of
1893. and to purchase additional tents,
blankets, food and supplies out of the
present epidemic fund. The resolution went
through without question.
Mr.. EIkins on American Shipping.
Mr.. Elkins. in support of his proposition
for discriminating duties in favor of Ameri-
can vessels. said:
Under proper policy of encouragement
to American shipping, the United Sta ates
with its 5000 miles of seacoasts, it's navig-
able rivers and lake coast, fine harbors
variety of climate, productive capacity,
rapidly increasing populatiors its position
on the globe-Asia on one side with 6p0-
100000 and Europe the other side with
4OoHD.OUO Of people-should be the leading
commercial and maritime power of the
world
This would be the proud position of the
United States today had protection to
American interests on the sea granted by
the founders of the government in the
early legislation of Congress been con-
tinued. No nation has ever been truly
great or an important factor in the affairs
of the world unless it has been great on
the sea. The United States cannot reach
its full growth and measure of progress
until its shipping and commerce is relative
iy equal to its industries on land.
The United States pays 100000 every
day. or nearly 81 per capita per annum, to
people sell and buy. This enormous sum-
or most of it, should be saved to the peo-
pie and the country, and would be under a
proper policy of aid to shipping"
He reviewed at length the causes which
brought about the decline in American
shipping, principally due, he contended to
the lack of protec ton. yet being forced to
compete with protected and subsidized for
the United States in yielding to British per-
suasions, and said that in 1923 the free
freighting act" was the final act of ruin
Gus reciprocity" In 1925 Daniel Webster
eliminating duties: I'VE have a commerce
which leaves no sea unexp1ored: navies
which take no law from superior force"
The 10 per cent discriminating duty pro-
posed by his bill, the senator said, should
be applied to goods admitted free, as well
as to goods upon which duties are now
paid. If we had abandoned the policy of
excluding foreign built ships from our
coastwise trade seventy years ago. he said,
that trade would now be In a condition as
deplorable as our foreign shipping. He
argued that 1t might be well to extend our
coastWise trade relations with states and
countries of North and South America
under reciprocal regulations.
Mr.. Elkins declared that there was no
fear OF retaliation under his bill. England
could not hurt by discriminating against
our ships. She could not place a duty on
the food products she bought of u.s. Our
ships would carry millions from other
countries. When we levy duties Of 40 and
50 per cent on foreign goods England and
other countries do not retaliate.
Mr.. Lindsay on Bankruptcy.
Senator Lindsay made an elaborate speech
in advocacy Of the Torrey bankruptcy bill.
In the course of his speech he said:
"I have caused the laws of other coun-
| tries to be examined and find that all the
| leading nations of our race have, and have
had for many years upon their statute
books laws on the subject of bankruptcy.
THE fact that these great nations have
| found it desirable in conducting business
and in the promotion of enterprise to have
| such law for the mutual protection Of
| debtors and creditors, constitutes a prece-
dent of persuasive force to the members
! of this body. During the past ten years
| there has been an agitation in behalf of a
! new law, which has been educational in
| character. 1t has not been the purpose of
| these conducting this agitation to secure
| the enactment of a particular law, except
! SO far as it should be comprehensive of
the rights of all honest people; they have
not gone about the work with the secrecy
| which attends the promotion of selfish
ends, but have sought the greatest pub
Ecity for the consideration of the sub
| jects.
l NF
tion has been the Torrey bankruptcy bill.
a measure which has been more generally
considered and universally indorsed
Throughout the country than any preced-
ing measure of like character, and which
has been considered and discussed by Con-
gress each session since 1889.
THE bill does not in any way interfere
| with the occupations now, or which may
| be hereafter, allowed to debtors by the
Laws Of the several states. This measure
| is the most thoroughly analyzed piece OF
l proposed legislation l have ever examined
| Every conceivable contingency seems to
| have been thought out and carefully pro-
| vided for. 1t is my judgment that. If en-
| acted. 1t will be a conspicuous example OF
/ atured legislation, and remain for all time
| as an example of how laws should be pre-
i pared before being placed upon the statute
| books"
! After an exhaustive analysis of the
measure. Mr.. Lindsay continued: 81
| have considered the status of lahorers
and find that they are Interested in the
| stability of credits, the maintenance OF
| which gives continuity to their employ
| ment, and there Is nothing in their status
| repugnant to a complete bankruptcy law
| Il have considered the surroundings and
natural inclinations of country merchants
and find that under such a law they will
| enjoy a more settled credit than under con-
hicting state laws.
Il have considered the financial interests
| Of those who produce raw material both
from the fields and the mines. and find that
they are interested in the maintenance OF
| credit. which enables them to garner and
harvest, dig and market their products
They, too, are interested in a complete
bankruptcy law.
II have considered the subject from the
standpoint OF the jobber and manufacturer
ard find that they, too are interested botf
in maintaining and extending credit, anC
that the passage of this bill will give sta
| bilfty to their affairs and result in enlarg
ing the volume of their transactions.
"In view of all the facts, 1t is for us Il
consider whether, at the dictation of a few
great establishments, we shall furthe
postpone making the constitutional righ
to a bankruptcy law available to the peo
pie, or proceed upon the theory Of tn,
I,greatest good to the greatest number, ane
lipass the bill recommended by the commit
tee on the judiciary.
"A bankruptcy law should be on ou