Bankrupts,

each State has power to pass bankrupt and insolvent laws, which, however, may be modified or abrogated by any general law on the same subject passed by Congress. Provisions exist in the several bankruptcy laws in force in the various States whereby in some instances a large portion of the debtor's property is absolutely protected against the claims of the creditors. Under our own Debtors and Creditors' Act, 1875, a debtor is entitled to retain as his own property the tools (if any) of his trade and the necessary wearing apparel and bedding of himself, his wife, and children. However, this provision bears no comparison with what is termed the exemption and homestead law in America. It would occupy too much time to give even an outline of this law, and I shall therefore only refer somewhat particularly to the rule in force in the State of Michigan. A householder is entitled to a homestead not exceeding in value 1500 page 21 dollars; also sewing machine, wearing apparel, books, pew, &c., not exceeding 150 dollars; two cows, five swine, household furniture, fuel for six months, not exceeding in all 250 dollars; implements, horses, harness, &c., sufficient to allow the debtor to carry on his business, not more than 250 dollars in value, provisions, feed, &c., for six months. In New York the residence of the debtor being a householder is exempt to the value of 1000 dollars, and also a very large quantity of chattels, such as household furniture, library, tools, apparel, watch, &c., &c. In California, chairs, books, &c., not exceeding 200 dollars in value, are exempt; homestead not exceeding 5000 dollars; the cabin or dwelling of a miner, not exceeding 500 dollars; also a number of other articles, such as tools, household furniture, &c., &c. In Vermont a homestead to the value of 500 dollars is exempt; also household furniture, sewing machine, one cow, ten sheep, ten cords of firewood, 20 bushels of potatoes, three swarms of bees and hives, pro-fessional books, and instruments of physicians to a certain value; also bibles and other books, &c.

The legal status of a