The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-07-31
TO SHED ALL THEIR DEBTS.
DEBTORS CAN NOW BECOME VOL
UNTARY BANIkRUPTS.

The United States Court Can AbsOIve
Them Forever From All Their Ola
ObIigations-Gives the Honest Man
Who Has Failed "A New Chance In
Life-The Unfortunate Clerk and
others May Avail Themselves of Ii
to Drop Their Load of Debts.
Tomorrow the new bankruptcy law goes
into effect and the army of unfortunates
who have been carrying a great burden of
debts are invited to come and lay them
down at the feet Of the judges of the
United States district courts or of the ref
erees whom they may appoint
The law, as should Well known by this
time, is intended for the relief of the nom
est debtor, and there is no doubt that both
judges and referees will exhaust every
means Of preventing men Of dishonest pro-
clvites from taking advantage Of its pro-
visions to defraud their creditors. Judge
speer and referee A. H. MacDonell, in
this district, will give all cases coming be-
fore them a thorough sitting and Will en-
deayor in every way TO shut the doors on
those who see only in the law an oppor-
tunlty to so into bankruptcy and come
out free from Obligations and with con-
siderable money withheld from their cred
uors IL is the impression that they viii
make the most searching inquiry INTO all
cases presented for their consideration,
and il is not going TO be an easy matter
to misuse or abuse the privileges of the
law.
1t is believed that there will be consid-
cradle work done in this bankruptcy court
during the next few months 1t anords
an opportunity for The man who is in debt
to get out of it and start in the Worid
afresh, with no judgments hanging over
him to clog his business progress. Any
debtor can avail himself OF the opportu-
nifty by presenting a petition 10 the Uni
ted States District Court. After the case
has been Investigated If it is found that
the applicant has been honest in his deal
ings with his creditors has not concealed
property or wrongfuny transferred it to
cheat those whom he owes, the court can
grant him freedom from all his obisa-
tons and put him on his feet once more
for the battle of business, and OF exist
enCe generally.
Although the Savannah lawyers are
naturally aVerse TO talking of the business
entrusted to them it is the impression
that several cases are already in course
of preparation to be presented 10 Judge
Speer. Papers may be filed in the clerks
office any time. The names of three or
four men who have failed and turned over
all their property are mentioned as being
among those who would probably soon
avail themselves of this opportunity to re-
lease themselves from judgments and
outstanding accounts which prevent them
from making new business arrangements.
Under the system that has existed up to
this time and which has made such
law as the one going into effect to-mor-
row a necessity, man who has honestly
failed, come out of the wreck without a
dollar has judgments piled up against
him and for the balance of his days is
debarred from doing business on his own
account or ever establishing new credit
With these old obligations wiped out
friends would sometimes come to man
aid let him have capital to start atresh,
and otherwise give him helping hand
AS 1t has BEEN though, it has been I'M
possible 10 do this without the danger OF
the old creditors coming down puon the
unfortunate and seizing everything to
satisfy their claims.
Merchants, be they large or small, who
are embarrassed to such an extent that
lily avail themselves of the good graces OF
this law. A lawyer was asked whether the
provisions Of the law would also apply to
men not in business, who, through misfor-
tune had become heavily in debt; whether
a clerk for instance, who, through SICK
ness or lack of employment or other
causes, had incurred debts that he found
IL absolutely impossible to pay could
throw himself upon the court and be ab-
solved from them forever.
Il think that the law would cover such
a case" said he. 1T distinctly says, any
/ man who is in debt and nothing broader
/ than that could be asked for. 1t seems TO
! me to include every one who Is in DEBT,
| and who cannot pay out. OF course, it
would be necessary to prove to the salts
| faction of the court that such an appll-
! cant sought relief solely because his con-
| dition was such that he could not pay and
! not because he desired to defraud those to
/ whom he owed the money. Few men not
! in business would probably like 10 resort
/ to such a remedy, but there is no reason
! why they should not, so far as the law it,
! self is concerned. If through death, sick
ness or other troubles a man has got
heavily in debt, and IS just making enough
to grind out a living for himself and fami-
| ~, | do not see why he should not have
relief from his personal debls as web as
the business man, who is unable to pay
those from whom he bought goods"
If this view Of the law is correct there
may be more than the lawyer in question
believed would avail themselves Of it. I'm
der the law q man going into bankruptcy
I does not lose his homestead and exemption
right He is entitled 10 every right that
tho laws of Georgia grant 10 him. Such
ar application of the law as is referred 10
| would in all PROBABILITY strike death blow
| at the general credit system.