| Show insolvency BILL AMONO the measures now pending in the Legisla legislature tiare is one of considerable public interest concerning concer which there is a diversity of opinion among amone members as well as among the general public we refer to marshalls marchalls Mar insolvency bill which Is a revival of some of the features of the old national bankrupt law it provides that a debtor who to la unable to pay his debts may mabby by surrendering his entire estate f for or the benefit of his creditors and complying with the further provisions of the law become absolved from all financial financil ai obligations ligat ions probably oly the chief objection to the bill would be the ease with which a debtor could transfer his property property in a manner which while ic t would enable him film to make the requisite showing of insolvency would also enable him to regalia regain his property or its value after the edca judicial ud ca decree relieving him of his bla debts debt 8 should hould be made the th e b bill has bas a several everal phases which attract attention it aims to be a protection ti to all of the creditors of an insolvent debtor in that it seeks necks to give to all of them av abortion of his estate hence to that extent is in th interest if at the creditor class it is in line with tile the liberal beral tendency of later times in the direction of loutency leu lency tency in the treatment of af insolvent lurio lyent debtors which beran began by relieving them from rom imprisonment for debt and has gradually increased until in all OL of the states stales centala property is placed by law beyond the reach ot of creditors this taia bill is alsa in ha farinon with that policy which would base all business transactions upon honor rather than upon I 1 law a w an and d which chic h h has a s many advocates among louon men and even among commercial lawyers but the laws of utah which relate to the collection of debts are soa so at present as to be very equitable towards both the debtor and credi cr edior or classes while affording the latter reasonable protection they prevent the undue oppression of tae former they ex f empt from execution a portion of his pro properly erty which Is calculated 0 o be sufficient mcdent to prevent suffering on the part of himself or family but give the I 1 credi creditor top a chance to secure the re maender and a portion pt his earnings in respect to the tendency of that generous public policy towards debtors which has a ali ir increased in sars strength nath daring the thelast s t fifty ty years the resent present ia laws qt pt ah h gre are abreast of t the e times AL a book account ou outlaws ws in two and a note in fourbears four years oa 0 the whole it Is likely that a majority of the assembly will hardly deem a revolution in the co com m merceal laws of e the territory advisable le at toe the present time |
