A BANKRUPT LAW.
The joint resolution [S. 4] instructing our Senator and requesting our Representative to oppose the general bankrupt law now pending in Congress was taken from the speaker's table and read, whereupon Mr. HEFFREN moved an amendment which was adopted, to strike out the word "prove" and insert the word "oppose."
Mr. JEWETT said: As a member of this House I think that resolution ought not to be adopted. I am certain that the commercial interest of this country has increased of late under a thorough bankrupt law, and such a law tends as much as anything else in my judgment, to bring about great commercial prosperity. Now, I will say to the gentlemen of this House who are not engaged in the practice of law that I have paid some little attention tot he law, and I find that the law now before Congress radically differs from the cumbrous laws formerly in force.
Mr. SMITH, of Tippecanoe, said we have thirteen Representatives and two Senators in Congress from this State. I think it is not wise in us to attempt to instruct our Representatives. I think we ought to waive this matter for the present and let this resolution go to the table.
Mr. FRAZIER: I can not add anything to what has been already said by the gentlemen from Washington [Mr. Heffren] and from Tippecanoe [Mr. Smith], but I give my hearty concurrence to what they have said on this subject.
Mr. ADAMS: I think that the commercial interests of our country demand, and always have demanded, some kind of bankrupt law, and I am opposed to the resolution. Because we have had some bankrupt laws that were ineffectual is no reason why we should not have a good bankrupt law.
Mr. PATTEN: I think a general bankrupt law will be proper and right. It protects the debtor class. I think we ought to have a bankrupt law that will protect the general interest of the country.
Mr. MONTGOMERY: My constituency are in favor of a bankrupt law, and I do hope this resolution will not be adopted.
Mr. MOCK: I am opposed to a bankrupt law and in favor of the resolution.
Mr. GORDON: In the history of the country we have had three bankrupt laws, and they have all been repealed because they have proved unprofitable experiments. The gentlemen on the other side of this question are not able to tell us that the law now before Congress is anything but an experiment. The sentiments of the people of the State of Indiana are overwhelmingly in favor of no bankrupt law, and I believe that the resolution ought to prevail.
Mr. WILSON, of Marion: I do not know of any law to-day under which an unfortunate debtor can be relieved from his embarrassments so as to start again in life. I am backed up by the best lawyers when I say that the bankrupt law is a humane law. It gives a man an opportunity to start anew. We know that the bills pending in Congress have been submitted to the best legal talent in the East and West, and if there is any thing in experience this bill ought to pass. I believe that the business men of New York and Boston and other Eastern cities have petitioned Congress for the passage of this law.
Mr. SHOCKNEY-I think the State of Indiana is as ably represented in Congress as any State in the Union, and I am in favor of letting our Representatives exercise their judgment in this matter.
Mr. DEEM said, I shall record my vote in favor of this resolution.
Pending the discussion on the resolution the House adjourned until 10 a.m. to-morrow.
