Mr. POLAND. What has been said by the honorable Senfrom Ohio in reference to the objections to this bill, and especially those growing out of the fact of the indebtedness of the South to the North, has not very much connection with this amendment that is moved by the Senfrom Oregon. Now, Mr. President, in consequence of the fact of my having been the organ of the ComJudiciary to report this bill to the Senate at the last session, I have been made the object, the victim almost, of an immense correspondence upon the subject of this bankrupt law; and so far as I have been able to discover who are the most anxious and the most desirous for the passage of this bankrupt bill, it is northern creditors of southern debtors. With the single exception of one gentleman in Philadelphia, who has got a southern debt that he fears he will lose, the universal exPression to me of all that class of persons, so far as I have any knowledge of it, has been that their only chance of getting pay from southern debtors was by the passage of a bankrupt law. They say that the property in the South is almost entirely in land; it is owned in large quantities, large tracts by persons who are largely in debt; that the owners of this land are the persons who control the State legislation and the State courts; they are the persons whose influence procures the stay laws; they are the persons who control in reference to the State courts the sentiments, judgments, and opinions of those courts. The say that the only chance for them to collect anything off their southern debtors is to have a bankrupt law passed that will enable them to bring those debtors into the U.S. courts and to lay hold of this land and divide it up. And I may, say in connection with this subject that our loyal friends throughout the South; a very large number of whom have written to me on this subject, regard this as one of the most beneficial measures for them. The universal sentiment among the loyal people of the South, the real loyalists so far as I have been able to discover it in my correspondenee, and it has been quite extensive, is that as a mere measureof reconstruction, as a measure of settle ment, as a measure to put things upon a proper basis in the South, nothing would be so ben eficial to them as the passage of a bankrupt law. And in reference to the sentiment of northern creditors on this subject, the great mass of the southern debt is in the northern cities, and I believe every city of the North unless it be the city of Cincinnati, through the boards of trade, through every organ of the creditor interest of those cities where the great mass of southern indebtedness is held, has given exPression to a o universal and almost unanimous opinion in favor of the passage of a bankrupt law. So that this class of persons who it is feared are going to be injured by.of a bankrupt law, in consequence of their holding debts against the South, are more clamorous for its passage than even the persons who desire to take the advantage of it themselves.