OCR Text |
Show PRONOUNCED VICIOUS rromment Salt UU Business Ilea 0:j.ct to tb. Biinkrap-cj Bill. IT yl,l RI M VWMMt Ul SMES. IkeAMaf ITrtlrrii vualor aud Fait rrn trliad 3lut ! Inrnkcd to I'rffrut ll IVllBgi, The blil which last week pattil tba Hout of U.i rtfttntatlvea at Wathlng-ion, Wathlng-ion, providing ounditlnu of Involun tary bankruptcy, la ciuilng eooioio ttoo among btitlnes men of Hits olty. I h oonceusu of opinion It that iba bill propoae a vlrbm law aud tbat all legitiruat effort atiould I mala to defeat It when It omea up lu the Hen-ate, Hen-ate, a will ba teen by tha following expressions of opinion: Mil. t. o. wmngit. I am tint larnlllar with the provisions uf Ih bill, but from reading tha brief yiiols uf It given In tba new t( apart t thlnx the bill should nut past la lit present cmdllloti. Under certain clr-cumitatcpt clr-cumitatcpt I Ibltik tbera ahuld be a I lowed tha privilege of preferring creditor. cred-itor. For lualaoo, the local bank re, rents, wage of employe, etc To ohllgatlout . 1 think should ba uia I flrat as tbey are euutcet of rvnue to our Hlat government where foreign crediiui du not huid tha tue position. posi-tion. . At KhllACU. It would not tit lu th Interest 0 tha bualnate community iu ptee such a law. It it contained uniy tha voluntary volun-tary trivial, u it wuuld nut ba ui jeo-tlouahlr; jeo-tlouahlr; but th Involuntary pro vittont are certainly Viciout. Tha law w uld place a dthior at tn Biercy of auy creditor who din I red lu be mean Hi bla dealing. Iha creditor could close a buaiiifie up Which Wa practically practic-ally toivnni and which, being given a little time, rould retaln II staud Ing lu tb butinets world. Bill. VU K A II. M. I hav nut read tha bill and am therefore unabt to express an uplnion on the metier; but if it la tbw eui as the old baukrupi law It will ba simply awful for butiuets. Any law which will give a creditor undue advaulag la bad legiplatiuo, Ol o mrse, bankers do hot favor th law, it will La ba 1 hr buaiuee ui!i lu a Wight pluou." When you cau't pr.r your oredltora uu can't get credit at tna ba. k. Al the eein Urn, bowover, It would sometimes be better If bualtieaa man could not overdraw ao oft:; man; men bava beeu rulbtd In that vry way. UK. I'K.NCEIt CI.AWdON, 1 agrea wltb Mr. MeCornlck't view on th matter, lu law 1 deirlrnental lu Western credlia. I don't kuow ahout Iho Ktst. They probably ara In different dif-ferent cirrumttaticr. In a new country coun-try like the Watt, Industries aud bust-tii bust-tii tae mutt t created, built up and developed, de-veloped, and In order 10 do tbl money aud or Jit must h bid. 1 am not lu favor uf the law. I UK. 4IKU, SI. I'ANNUH. I am n -t arijualuted wltb th pro-vlsioue pro-vlsioue ut the bill and would therefore prefer not tu expreaa an opinion. 1 nave beard the matter agitated, bow. ever, and konw tbat ama of our prominent bualnata man ara oppoeed to th law, whti othere Just aa proui ueul are lu favor of It. IK JwllN M. 1HJJLV. i bope tb bill wll not become a law. ll will atleel Injuriously booeat men of small nieaur. Our iawaiakara would bettor prooful in lnteria of their oonttlluenl If thiy would make laws lo protect th luteresla of th honest and well.rnaanlug majority rather than to oorreot tb morals of a small, die. boiiett and lualgalflcaat minority. It will not ellect th bauklug in tare t Inlurluualy, a tb batiks will refuse to graut oredlta where tbe risk la lu created by this apvcltt or legislation, UK. WKUIIUK A. INOW. 1 heartily concur lo every aipreaalon given by Mr. Mut'urulck. I aball b glad to see yuu vigorously handle thta' matter and ask Utah tnerohaiita tu urge weateru auuators and east ern iriends to du all tbey oan lo bava Ilia bill throttled lo tba He uat e. riuih a law would b most vicious vi-cious and detrimental to our ored-lis ored-lis and tuslnwi. It is wall known tbat mauy times tb banks, being preferred oredltora, hav tided over dltli.'ultle me ay ut our beet bu wine wi-ne bouses which, under a law like this, would bava gone lo th wall. The paaag uf thla lu assure, ur prau tically Ih sam thing, lias been attempted aud defeated numerous numer-ous iiiuue In both Iba Nalluual a territorial legislature. It ba nvr i beeu successful when Its vlclout results re-sults hav beeu fully explained UK, W. t. M'CUHMOK, Flowing is a letter tent by Mr, W. H, Mi Comtek to Henalor Junee uf Nevada, which give the furmer gtu tluman'a vluwe vary forcibly! Halt I.ai.k City, May 8, 1696 Hon, J. 1 Junes, Washington, D. C. Dear Htr 1 bava this data wired yuu a follows: "Deieal bankruptcy hilt If oplble, lit passage would ruin oredlt here." 1 hav alto wired Henatura Itrnwn, Cannon, Hboup, Htewart aud Dubuie aiiiiilarly. 1 do uut know whether you hav givau thla sub, em much thought or not. Hunilar tills have teu intro dured lu the Utah Legltlaiur every M-a-h 11 (ur 1 he pHtt tweuty yeara lo my cer aiu knowledge, and aiWaya deeattd. li is purely lu tua lu (ereai uf the eastern wholesale meu, 1 luu giti'vaucu Is that wheuate.gr,. meiilN aie 111 ado looul paopl aia pre-feirud, pre-feirud, tu tuu detriment ot Iboae In tha iu-i. The antw , ibero Is no com 1 ulsiou, and it they will Intlat uu leudiug their drummers here to seli ineir gcuda tbay ajiuet take whatever olb uat there are. Besides, ihey bava a big advantage over (local f g " I J usrrbanfi, who are subject (a Uii, y f , J ! nt aod leiereei on tbeir stoak m l 0dt, whlrb lhj must fieoea'srlit j IV Barry. Wnen an eastern merchant I 41.I leads out diuinmsr wl li hamiiui I rI ,r Mmiiifi. uuhes around fr-in 01 ' A 1 tommy elnra lo another, subject to 1 I 1 rent, use or Herns, ml contrlbut 1 I I nothing toward lh support nf In I 1 -Mete, oiiuutjr or oil) 1 ni men hn tht 1 elrontery tu ask that low in j I iaed M leaure t,uil diiti n ' itn ng crrdlture In oas of a- I I a1ipmhl, and thai th it-i.ttr 1 dr- nlru lh KfiT'lfia of fnakmir, jitelei. If t ri, m 1 alto in ny dlapsu-j, It II t would rulu ereail hers 1 w-u In the i j Wmi; mi no on wolm or eon id nH .id I I lului ru)UV witunut security, nl I f l I noit of our et.l i. m sceuriiy V . I n oiler Other then their siork of g.'- . I I they would Pimply beve I- rtitu fr. in II I 1-mlnrM una leae IIih fl)d t Iti"- I I With sufllclenl rapltal lo do huiln.-a I' wilhcul horriiwln.-. koi.re, tin i r I th peopl wlih wuui I em r Jii nlo-l ! 1 hv all of their .-at.ital inv.e.id lu t 1 goftds, which nf cioiira carihoi i u-ad J 1 e-eouMiy when ihy ar auhh-rt lo dally chaug, wmoo mast t in I la saliiug KvnUr. An., no man waiibi Into nnmy wtiera he wauil havlu J nrn rai with other ercmiuis Id cBe 1 ' tenure, a it wpuiU im intiulia ' bi for B.auiilv, a ouerchaai aiarU ! la LuiltitM, I. a r.ua au aciauul 1 with a bank and anr.thrr with a ' wuoltMle oivrcliaiil. it ! uvtial t iufchaa lriu tliraa I" four llm R a ' and lu ruttt on arii aaia avr ' afa al ltavi M per canl. My thai wSly Ihraa piirrliata are mrti Jiirlim taa year. Itia tt'tal I'f III would ' antount lu 80 wr rant. Tlie liciikvr, at 1 I a and aflLa iRiua iarlod would htf unlf f ar cam, ltat i ao ik rata i latarait. Wow, If tha aifiotiant wara to fail at tlia autf at Ibo 0M ar, 1 tha wtoslaaaia marchant Would go in ' at aa advatiipRa of W ptr oar taataltba bankt-r tr mnuay luaaar, and al tii iu j of wn y-r wU ir eai.1 luitotd of lh baukvr'i LU ft a-nttaad o an banca niunj will nut Of loantd wham nralircuc ar prouiultad ty l-w. l b Chamaarof Couiman; of thla oli iad almllar Noluilunt which hava bea forwardttf to tiur Ulati hb alrt, 1 WI4 lb bop Ibat you may a ahla " ( to uiat lha but Ibai woulJ, li oaaid latu law, b tutnsut lu yur uvniti'.u- it it, 1 rBilit Hlnorlj yourt, (Hlgud.) W.H. MoCuKNiCk |