PRICE ONE CENT.

T II E 7 R IB U N E i.

NEw-YoRK, MONDAY MORNING, JULY 1a, 1871.
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GENERAL BAyKRurr LAw.-we have li'hograph-
letter signed by twelve persons in this Ciy
,Dosng the passage of this law We surprised at


Of force argument where so much iao1r ana eN


c had been bestowed to send each member of Con-
nss.


The letter does not easen neither does it present facts
m the consideration of Congress But the sgners assert
t there not time to mature bill Not tirne Cannot
Congress- s months if they choose But this is the
bird session to which this has been by these
zrons lfths reason is sufficient, would respect
hin ask when Congress will have time


The object Of the meeting of Congress relieve the
ope who haze suffered by the misguided policy of The late
Administration and we know of no class who are
:d the support and protection of the Wing portion of
Congress- than those who have been tho victims Of these w
anna that brought the country the verge of
ruin.


But these gentlemen say, this law will produce immo-
ray and niure the country This is another assertion
without any attempt at proof.


We ask labor, the energies the exerons of these
hundreds Of thousands Of hopeless bankrurts worth moth
ng If fails, the country loses nothng.-The ag-
gregae worth of the country remains the whether
chants fail not,The property is anniAtated. But





and labor performed by its citizens then the country
loses in aggregate wealth Thus by the want of Bankrupt
Law of thousands discouraged, their labor is with
drawn, and the country suffers loss All experience proves
that if we had Bankrupt Law. labor would be per-
formed than under present percous system odeterring
aiOyents from pursuing any business that may produce
money


Any who regards public morals and national wealth.
arahpessed of sufficient intelligence know that the
aggregate wealth of any people is based their productive
labor will never oppose Bankrupt Law The great diff
Guilty with the opponents of ths is they cannot see
beyond their own counlirgrooms and they grasPins
and anxious to force frcm unhappy debtors family
friends of their .rd earnings that they think OF
any other interest.


This hographc letter represent Ike sofoem
classes and asser that they oppose Bankrupt Law Is this
el We APP peal to those gentlemen drecy-ls this true!
Doyoa not snow that not intelligent and solvent me-
chant (Oaf to has confidence his socency ont OF ten
soPPo .ed to it? We believe that of the really
@ke merchants and traders favor of this law Many
merchants whose crcdi, is still good but who are rea y III
solvent oppose this for fear their credit be suspect
3D. This Is not surprising, but Is very unwsc and we
would now be more inclined suspect mans sovency who
shall oppose this measure than who iearlessy advocates
Creditors of the first class-men whose wealth Is be-
yond question: are generally in favor of this aw-the weak
est men and firms in our city advocate it, and every man OF
substantial credit in Bo.on-every of large estate whose
ability beyond uspiccnhas pctitioned in favor OF ana
urged this measure upon Congress.