Mr. JEXCKES. Mr. Speaker, before the bill is read I desire to submit a few remarks opening the debate. This bill is the result of the careful study of the subject by 2 select committees of this House, and of the ComJudiciary of the Senate in the last Congress. It may also be said to be the result of the studies of previous committees of Congress, who, in the light of the previous experience of this country and of other commercial countries, have endeavored to provide for the necessities of our merchants an men of business. It is an attempt to establish the law of debtor and creditor upon an equal and just system, based upon the Constitution, an which shall have a salutary and satisfactory operation in all parts of our country. The bill has been printed in large editions and liberally distributed throughout the country. Abstracts of it have been published in most of the news papers, and inal of the legal periodicals. every lawyer and man of business in the country has had an opportunity of becoming acquainted with its revisions. Many suggestions in amendment have been received from practical men, which have been duly considered and many of them accepted. Since the bill was reporte in the last congress, its provisions have also received consideration in other countries. One fact is sufficiently illustrative of the commendation which it has received. In the last Parliament of GreatBritain a select committee of the House of Commons had the question of the revision of their system of bankruptcy under consideration, and out of 21 propositions of amendm ent, 18 were identical with the leading provisions embodied in the bill before the last Congress. One criticism frequently made upon the bill is that it is too long and elaborate. But it should be remembered that it contains a code of positive lawembracing the relations of debtor and creditor in eve Statesuperseding the local laws and inten edto be uniform and national in its operation. It has been deemed necessary, therefore, to set forth clearly every proposition that relates to the rights and rem edies of parties alfected by the system. All that relates to mere forma ities o proceeding has been omitted, and provision made for the preparation of a code of rules which shall be the same in every court. With the simple and uniform machinery thus provided for, it is believed that the objections made to the operation of previous statutes will be entirel overcome. very commercial nation has opteda system of bankru tlaws. It is too late to argue upon the scumness of the principle upon which such laws are founded. o question it would be to question the results of o experience of the whole world for centuries. The bill is framed to take effect upon the business of the country as it now exists. Time is given for the framing and circulation of the code of rules, and for the men of business of the country to become acquainted with its provisions. When it once goes into operation it is believed it will become the basis of a permanent system. The careful mannerin which the bill has been prepared and revised by the committees which have bad the subject in charge; the length of time that the measure has been before the country; the universal favor in which it has been received by all mercantile interests; the general advocacy of the press; the intrinsic value and unquestionable good of the system, and the common consent that the present is a most favorable time for its introduction, in(luce me to take up no more time in opening the debate, but to ask that the bill may now be put upon its passage.