Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1820-02-01

~
traced IL 10 the prejudice, raised before The
revolution against British merchants ant
Scotch factors who had pressed upon us
for the debts which we had contracted
and said that this prejudice had come
down to The present day. But the caas,
most probably lies deeper than this
Most oil us are debtors; il is the sympa-
thy they feel for others in this situation
which has caused our Legislators 10 inter
!ere with the rights of the creditor. Blu
when they seek 10 dispense charity al
the expense of other people, we are per.
united to ask them by what righ do they
do II. When the gentleman from Pow.
ha'an attempts 10 release my debtor from
his obligation, what charity does he shows
IL Is not out of his own funds, but AT my
expPnce; and where Is the charity Ia me,
when he lies up my hands from doing
good, whether have the vohtion 10 do
II or not
MIR. 5. con,ended that the legislature
had as much right To convert install
inenis INTO cash pa. menis, as cash pay
menis into insialmeHrs. Suppose, how
ever, tnai soneyearS past IN 1911 Il, when
property rose very high, aud the vendors
made great bargains, they had come for
ward 10 ask iur their credit sales to be
turned INTO cash; what would tins House
have sand TO The tcmeriIy of such pro-
position. Had he been so inpu,icnt as
I" have proposed such bill, this wall
would have res0uuded with laughs OF
scorn. He would as soon have dared TO
cast the orange he held in his hand al the
Speakers head, as have urged SO rash
proposition. But now, when the bubble
has burst, when the boat Is on The other
leg, measure directly the reverse of this
Is TO he adopted! LIS 1911 ID, The House
would have SAID, as you Eave made your
b ct. SO you NUT lie upon II. Such an
argument would have been a mouth Stop
per to any such proposition; but now II
would not be heard with patience.
Some gentlemen may say, If this
bill does no good, il will do no BARN.
They may say, that the best hopes Of the
nation rest upon The people OF The couu-
try and thai ii liz That class OF the com
siuniiy II is meant 10 relieve. But freely
making the concession, claimed for the
agricultural interest, is il right To be par
tlal 10 one class of our citlZrns? What
becomes OF your merchant He sells
bla goods 10 hIs country friends. With
him. punctHaliiy is the lie of business.
For his goods, he receives Il note with
good cndorser|, perhaps security on
real estate. On The faith of these
Obligations, he purchases other goods.
and enters into contracts with citizens
OF our sister STATES. What then? Some
alarm OF his solvency spreads among
them his foreign creditors ruSn upon
hlm, lie IL sued IN the Federal Court.
whose steps YOU cannot arrest all his
funds are locked up by -year repievin law ;;
and he becomes bankrupt? Take The
use OF an auctiouecr who sells goods
upon commission, goods sent TO him from
other states. lie dIsposes of these goods,
and takes notes, aud perhaps deeds of
trusi-in vain; drafts are drawn upon
him which lie accepts. Mean time YOU
cnme IN with your replevin law, lock I'D
his funds; and the Federal Court poun-
ces upon him with all its velocity. Is
there common Justice in this course of
legislation Take the case OF the orp han
and widow, whose situations have been
so paiheicially described. View the OH
er side OF the picture. The orphan has
500 IN money. His guardian lends il
our 10 an industrious individual, who
makes his bread blythe sweat OF his brow.
"hd' becomes OF the orphan, when YOU
pas Tins bill His money is withheld
from MN lie must either starve, or be
brought up in brutal ignorance, or his
guardian must 60 into market and give
81 per cent: for the means OF purchasing
MN education and bread while the poor
ward Is only TO receive 6per cent. Is Ibis
chariiS or is II TO the orphan the poi
Soned shirt Of Nessus, which eats into f,e
vlials Of him that wears il?
The gentleman from Pc lafap emplov.
I'd an argument nd captanfitm; he SAID that
this bill "as opposed by the legal corps
Mr.. ). commended on tlie other hand that
II would be most profitable source of
to his profession that eyery
creditor would rush forward to save him
sell, and force some innocent man To stand
me security OF his debtor, instead of ma
klng every debtor pay The consequences
OF his own oily or lmprudence.
MIR. 5: attempted TO prove from the
law itself iat il would tall most heavily
hP"n me class OF people il PROGRESSED to
rrieVe ibal on debt of S 1000, VIVA,
WIN sheriff lees, The price OF The bond,
ne appraisers fees, and The IL months
interest, the debtor would have TO nav
5 l67 30; which Is z or = per cent upon
the debt; thai OH smaller debt. saw
5 300, The debtor who avaied himself of
tie Iaw. would he under the necessity
Of paying S % 81, between TO and II per
cent on HE whole amount Of the dcbl.
II you apply The calculation TO smaller
sums, the expense would increase from
] to 20 per cent. Now while your Usu.
ry law says that no man shall paw more
lhan q per cent, you pass Taw encou-
raging him TO pay from Z TO 20 per cent.
i.hiS Is certainly the rankest system OF
shaving aud speculation which is any
where To be found on the statute book
Mr.. >. conteDded, that in spite of these
evils, the people would avail themselves
of lie law; they could lake The prescrip-
lion from their confidence i'm the phvsi.