Evening star., 1898-02-16
MIR. Henderson's Speech.

Representative D. B. Henderson of Iowa,
chairman Of the committe on the judiciary,
opened the debate in the House of Repre-
sentatives today in behalf of the bankrupt
cy bill reported by his committee, providing
for both voluntary and involuntary bank
ruptcy. He traced the subject historically,
referred to the provisions of the federal
Constitution comforting upon Congress the
power to pass such a law, briefly stated the
principles Of the subject and tersely set out
in detail the provisions Of the bill favorably
reported. He spoke of the necessity for
the enactment Of the bill and the demand
for it which had been made upon Congress
by the people, and anticipated with conf
dence that its enactment would be followed
by beneficial results to millions of individ-
uals and to all commercial, industrial and
professional transactions.
He was particularly forceful in his denun-
citation of an attempt which he said is be-
ing made in the interest of selfishness to
wTongfully create feeling of sectionalism
among the people upon this subject Con-
fidence, he said, was essential to the credit
system; that confidence would be greatly
strengthened and credit extended in con-
sequence of the passage of the pending bill,
which would SuperSede the adverse state
insolvency laws. He pointed out the fact
that his committee is dominat ted by western
and southwestern men, and that it is over
whelmingly in favor of the bill reported
In his opinion the debtor classes of The
country would be benefited by untold mil
lions of dollars as the result of the passage
of the law.
Gen. Henderson spoke of proceedings in
bankruptcy as plain. simple and inexpsn-
sive. He gave in detail the steps to be
sired to secure the benefits of the bill; also
the proc eedings which would be taken in
an involuntary case of bankruptcy, and
within what time the answer would be filed
ovn1 rla~ fhn ri a h~1 T.
pointed out that after the adjudcati ton in
voluntary bankruptcy. and in involuntary
bankruptcy, the rights Of each of such
bankrupts and the privileges of their cred
the United States district court would be
original courts of Bankruptcy; that state
courts would retain jurisdiction of litiga-
tion the reason therefor being that great
hardships would follow If all Of the litiga-
ton incident to- closing bankrupt estates
was transferred tp the United States
courts, as was the case under the last
bankruptcy law.2 He pointed out the fact
that the majors part of the bankruptcy
business will be conducted before r.ferees
a large number bf them will be appointed,
so that there will be at least one in every
county. IL n
Summing Up.
In summing up Gen Henderson said: I'm
general terms IL may be said that under
the provisions ofsthis bill the honest bank
rupt will be treated with consideration,
and within a reasonable time be discharg.
ed. That tina dishonest bankrupt will be
explicitly charged with his wrong doing,
deliberately tried and Immediately punish
ed. That the estate will be as quickly re-
duced to cash as possible, and distributed
to the crsditors. That creditors will have
an opportunity at each stage of the pro-
ceedings to be heard in favor Of or in oppo-
sition to any proposed proceeding. That
the claims Of creditors will be carefully
scrutinized and such as are just will be
promptly allowed at trivial expense, and
such as are unjust win be rejected The
inexpensive arbitrations and compromises
will be substituted for expensive litigation.
And, all In all, that the misfortunes of
men. as relating to bankruptcy, will be as.
suaged as far as possible"
The speaker stated emphatically that the
bill favorably reported by the committee
would. II finally passed. constitute:
law which will enable judges to be Just
and juries to be merciful.
A law which will Draw the line between
honest and dishonest debtors, and grant