The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1898-03-15

NiLOiI y
straits III given the time and oDpor- ;
tunlty, are placed completely et the
mercy OF their creditors, who can, by
holding over them q sword OF DamO-
Giles, exact ruinous concessions, or, Sy
ming o petition In bankruptcy against
IL en-, hopelessly engulf them.
III u debtor, after many long years
struggling against adveis ity, has
last succeeded in developing a
prosperous business, which will in
d lew more years enable him to dis
cnarge all his debts, and rehabilitate
himself upon q sound business footing,
under this bill he may be thrown into
bankruptcy for anyone of these causes
gst others:
~ Failed for thirty days and until
a petition lin bankruptcy)is filed while
lnsolven. 70 secure the release of any
property levied under process of law
Tor SoOO or over, or il such property is
TO De sold within such time under such
process, then until three DAYS before
the time fixed for such sale I2) suffer
ed while insOlvent an execution from a
court OF record for $500 or over. or a
NUMBER o. executions aggregating such
amount, against himself, to be- return
ed no property found unless the
noun shown to be due by such ex-
ecution sLall be paid before q petition
Is filed (3) filed in court u written
statement admitting his inability to
pay his debts
In other words, If he cannot paw of
judgments as fast as they are obtained
against him, or if he has to file q sworn
plea In court necessi ating a denial or
admission Of his insolvency, and if in
such plea he makes admission that he
Is lnsolvent, the United States Court
forthwith takes charge of all his
property and administers IL at great
sacrifice for the benefit OF his creditors
and the officers OF the court. A vivid
Imagination is not required to discern
the general and immediate disaster
that would follow upon the footsteps OF
these provisions.
NOT a county. city, or town in the
Union would escape from its quota of
victims. The same obstacles to a dis
charge from their debts and the same
open prison doors would confront them
as the voluntary bankrupts of which [
nave just spoken. In going W this
length OF oppression, gentlemen over
estimate the patienca and forbearance
OF an outraged people. You may pass
the bill youubave q majority in this
House, but 1T will come back to plague
ana condemn you, as did the last bank.
rupt law OF 1867, which p~lundered and
raVaged the people and which became
"a stencil in the nostrils of all honest
men, VINO repuu4 ated it and struck il
from the statute books.
Mr.. Speaker, there is another ground
provided in Section 2 for throwing a
ueotor into bankruptcy, and 1T dis.
closes tee ~ill-concealed purposs OF
Iracticaliy abolishing State Courts,
their sheriifs and clerks, and constitute,
Ing h United States Court the col.
Letting agent Of the creditors agains,
EN- oarrassed and involved debtors. II
declares that it is sufficient ground TO
bankruptcy if the debtor has made
an assignment for the benefit of his
creditors"
mat nullities and abolishes all State
statutes author ling assignments foi
the benefit of creditors as etfectually
as the imposition Of the 10 per cen
TAX upon State bank issues gave the
united States Government q monopol,
In the issue OF bank notes. After the
enactment OF this proposed law, by jts
very terms to make an assignment /,
to go into the United States Bankruptc,
Court.
Have gentlemen reflected upon thu
O' D'oeS po"Si CohlSETCu upon UnG
Fedora Courts by this bill Are yol
willing to shut your State Courts ir
the lace OF your people in order tina,
foreign creditors may harass anc
plumber and imprison them It is s
most reckless and Unnecessary invasion
ana enroachment upon the right of the
States. 1t grants tho Federal Court,
greater power than they have eve,
nad or exercised. Already these
Courts by bench law and building upor
their own stare decisis precedents
have assumed and appropriated tt
themselves jurisdiction in appoint
nent OF receivers of railroads which
mas resulted in placing more thar
Sl,OOO, OOO, 600 of railroad property in
tie hands OF their officers and agents
Inc only measure Of the exercise OF
their power by many of them has beer
the limit of their own moderation
they have a~nnulled Acts of Congress,
even in so vital a matter as raising
revenue for the Government. The
nave placed irjunctions against the
rlghts OF labor to peacefully cooperate
Tor their W protection in matter OF
wages. They seek to uinimiZe State
sovereignty and to make all power
authority, and even local government
emanate from and be exclusively ex.
ercised by the Federal Government
Win themselves as the supreme voice
OF the Government. Their jurisdictioo
should be curtailed and not enlarged,
and yet this bill will send them With
their hungry officers and EMPLOYEES
into very hamlet, nook, and corner OF
the Union.
In conclusion, Mr.. Speaker, / will
say my section can survive this legis.
latlon as well as any other portion OF
the country, while we are far from
enjoying the prosperity that should be
ours and to which our natural adyan-
tages entitle us. No people on earth
bave been so favored by Providence,
Our citizenship is u~nequalled in it's
nigh standard OF American blood and
American manhood. IL Is the old
original stock, possessing a century's
heredity Of American citizenship. Orr
l0refatners have lived and delved and
died there. Unlike the other sections
OF the Union, we have not been invaded
and overrun by the degraded, luwless
and worthless pauper immigration Of
lower and Eastern Europe.
We have escaped that abominaticn
OF desolation. Our soil, while not as
rich as some of the lands of the West.
produces practically the cotton of the
world, while our grain crops even ex-
coed 1T In value. Our iron deposits
and timber are the best In the Union.
We produce It's rice and sugar. We
are fast driving out competition In the
manufacture OF the coarser numbers of
cotton goods. A despairing wall for
help has already come to Congress
from the New England mills TO check