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BANKRUPT LAWN this Senate Of the United states
mr. bcrren from the Committee on the Judiciary re-.
ported bills from both Houses for the repeal of the
mr. moved the indefinite postponement of the bills,
ana proposed sundy amendments to the present law.
1he Bill and Report of the Committee are said 10 he
long. We give the substance in a condensed form.
Inc saiutary influence which will be manifested bv
IN the law will be ls by the prevention of undue
creait-sd BY preventing partial aasgnments--3rd by
substituting one uniform rule-and 4th by armno a
creator with power 10 force failing debtor into Eoui
'a''n before his assets are wasted by the desperate
specuation to which men in such circumstances are
'e"P'ed. The reasons given for the continuation of
Tug ID" are that the benefits of it have been extended


P'tion OF our fellow citizens, while its sud- en- re.
peal would deprive others of all the benefits of -that


ny decision Of one of the United States Courts of the
uhcohstltutonality of the law, which in effect has de-
prVed the citizens of of the States of the Union
Ine Dement'S OF the law-tha it is but the exercise of


pcnlhccnt power which the experience of Commercial
states has found to be necessary and power which
Inc Constitution has conferred on the Federal Govern
ment-that it will prevent enactment of .stav laws


that the law extends protection to class of citizens
though poor and unfortunate. are honest and should
not be deprived OF its benetsthat the assgnecs sha
be appointed by majority of the creditors No pro.
vision made for corporations. The law no doubt will
remain as is there not being time for full discussion
o' the subject,-the matter will be deferred until
the next session of Congress.