For the Nes York Tribune.

THE BANKRUPT Law IN PRACTICE.
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The .ad:es will have ailt!l- forms ard ruls= pre-
pared in few days to carry into effect thls
wise and .alutaty Iaw.,They are satisfied there
will be ne difficulty in carrying it into ettecf,
and see no necessity for any amendments until ex.
perience shall have demonstrated them


The mode OF proceeding will be exceedingly
simple


ist. The Bankrupt will present, through ms
Counsel, his coatessioa IF has Sankrnptcg in the
form Of peli.ion-whici vill sta,c--rt as7ne OF
each cr.ditor--lhe amouI due 10 eacii--the loiact
of each creditors resldeace, ana schcdu.s OF
Tie debtors property. To thi, will be annexed
the ba1krup1's affidavit that this statement is true


His Counsel will lhereupon ask the Court 10
enter the bankrupt's confession Of bankruptcy. IN
deence upon the records Of the Court. lms Is
judgment by coni-ssion---and all the banhrup.s
property Immediately passes by TIL, decree, into
the hands OF sucl. assignee the Court may ap-
point for that purpose.


Cd. The next step in the proceedings IS Tor The
Court to fix a day for tie creditors and bankrupt
to appear before some commissioner, to be named
by the court, TO examine the sanklupt, &c An
order, therefore, will be entered, directing the no
tice to be pubshedi in several papers, anda printed
or ,Drstteu letter 10 be sent to euch of tho creditors
notifying them when and where TO apPear-which
notice must be sent and published seventy days be-
fore the barkrup, is examined before the cominis-
sioner.


Thus it will be seen, that there viii be no more
difficulty in the Court receiving the confession OF
judgment and petition of one thousand bansrupt@
in enc day than there would be in entering up so
many confessions of judgments in other cases IN
other courts. The proceeding is one of mere
form.


3. The Court will appoint as many Commission
ers as shall be found necessary TO take down all
the testimony in 1cyatins--,.ch testimony of the
bankrupt, and such witnesses as the creditors shalt
from time to time Introduce will be rcLurnedo the
Court for examination, and finally, like proceedings
in Chancery, be placed on file in the Clerks office
for examination for all time 10 come Thus, if a
dishonest bankrupt escapes and obtains discharge,
it aoM be the fault Of tie creditor. For every
word is to be taken down in writing, md kept as a
reference for the benefit of the creditor. So that,
even should u dishonest man obtain discharge.
the creditors hare an everlasting opportunity to
set 1t aside, if tlsy shall establish an act Of
fraud.


4th. In carrying this act into effect, lie Judges
do not receive one dollar for the labor that will de-
volve upon them. Not one dollar directly or in
directly-und the officers of The court will receive
no compensation that will befcilt them So that ali
the labor of the court and officers will be the same
TO them as other gratutous duties. They never
thcless are willing to discharge this duty, iroH, u
inst conviction OF the immense Importance OF this
law TO the moral as Well pecuniary interests OF
the people.