Evening star., 1933-01-24
BILLS PASSAGE EXPECTED.
Bankruptcy Relief Measure One Of Few
10 Meet Favor.
by DAVID LAWRENCE.


Six weeks remain to the end OF
Congress and there Is no sign Of con-
gressional speed. Inertia will kill many
a piece of legislation. though at the
last minute the appropriation bills will
be rushed through.
Efforts to balance the budget at this
session have been abandoned. There
will be no new tax laws and no repeal
of revenue laws adopted last Spring.
The domestic allotment plan cannot
possibly get past thA barrier between
now and March 4. Delay is In prospect
for the Glass branch banking bill when
it reaches the House. The beer bill
faces an uncertain course.
About the only important measure
aside from appropriation bills which
seems to be assured Of passage Is that
which would afford relief to debtors.
This bill, which is combination of the
features sponsored by Representative
Representative McKeown of Oklahoma,
Democrat; Senator Hastings Of Della
ware, Republican, and Senator Robin
son Of Arkansas, Democrat, is now spon-
sored by Chairman Summers OF the
ported it favorably to the House.
The principal changes which have
been made relate to the methods by
which the reorganization Of railroads
is to be accomplished and the adjust
ment of farm debt Is to be arranged.
As the measure now Is written the
opinion Of the Interstate Commerce
Commission will be purely advisory and
the Federal courts may or may not ac-
cept 1t in determining whether q pro-
posal for reorganization Is acceptable.
There is no doubt that the views of
the Interstate Commerce Commission
will have great weight with the Fed
eral courts in the new proceedings
whereby scaling down of debt is to be
attempted, but the hands Of the court
are free to accept or reject suggestions
from the commission.
Passage Seen This Week.
The provisions relating to farm debt
will require large number Of ofi1cers
to be appointed by the courts to act Is
conciliation commissioners in every
county. These commissioners will not
have power to make binding settle
ments, as this will be reserved for the
court, but the existence of the commits
sions Is expected to lead to adjust
ment of farmers Indebtedness through
the educational process which it will
introduce. 1t will give the farmer a
place where he may 60 to discuss the
extension of payments or the scaling
down of mortgage debt.
The farm debt sections OF the bill
are vague, and necessarily 50 because 1t
is desired more to set up a machinery
for the discussion Of debt than to estab-
lish Q precedent whereby an individual
may cut down his debt and be released
from the pressure of creditors. The
later idea Is by no means one that has
been abandoned by some members Of
Congress who still think an enforced
moratorium or even arbitrary cutting
down. of mortgage debt shall be per-
mitted by law. It Is pointed out, how
ever, that capital will never make new
loans II mortgages are to be subject to
governmental whim. Hence. the COM
promise developed Is to arrange for
composition and adjustment very much
as the Government serves Is q media
tor In labor disputes.
It is fully expected that the House
will pass the Summers bill this week
and that the Senate will act within
q fortnight.
(Copyright. 1888,