Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1820-02-05

| INFO Tue hands OF tile general government
l and not laws OF similar descripton TO the
one before the House.
MIR conclnded that the present bill was
| mol contrary TO the federal constitution. In
| reply 10 ITS being void as a retrospective law
| MIR. x. admitted IL would he so, If il went TO
| vittate any right that was vested but he con-
! tended that II had moi this cons equenre going
! merely 10 The remedy, and not to The right
Tie illustrated this distinct lion as to retrospec-
| tive laws, by certain cases in the Court of An
| peas, particularly the case of Gaskins against
| The Commonwealth. where the court decided
| that retrospective law may be passed which
| touches the remedy ouly.)
| In relation TO Deeds OF Trust, of which
gentlemen had made sort OF pons asinoI,t,u IN
| had been argued that the power given 10 the
| trustee is part OF the contract. and that so
! much Of this bill as relates TO them is against
| The restriction OF the constitution. MIR. X.
| however begged gentlemen To rscOllect that
| remedies were OF Two sorts. as Judge Black
| stone. had distinguished them, judicial and
| extra ju ''iciai the one used in court and the
DINER out OF II, by the parties themselves. In
| both eases, the remedy is the creature at the
| law, aud may therefore be skaped by il, as the
| Legislature thinks eApedient. Mr.. r. exhi-
| btcd AT great length and with much m.enui-
| ~ of illustration how deeds Of trust fell under
| this remedial power Of the leg islaiure how
| the law itself M some respects regulated them
| aud how perfectly inefficient they would he
| without the aid of the law.-He dweli Too
| upon the case ut MaNo aud Judah TO shew
| that the Court OF Appeals did carry into eff
feet the former STAY Law in relation TO deeds of
| trust. though the question had been made y hr-
| Their the law was constitutional; aad from this
| case he concluded thar the decision of the
| court, WAS IN favour OF its coTStitutioualiiv
| MIR. X. stated how necessary II was from the
vast quantity at property NOW under deeds
| of trust to bring them within the provisions
! of the present hull.
Having finished the constitutional view of the
question he came TO the erDedirncu He tx
sod IL hell ltfi IN tt,a
salvation OF the great body of the people
Had not the proudest heads Of this metropolis
bowed beneath the pTessnre5 Had not The very
pillars OF this Capitol been shaken1 We're we
TO wait for petitions Did we wish the people
of this free country In kneel at the feet OF their
agents for relief Bui what petitonwas there
in 1907 when the legislature in,erlered, There
was not the shadow ofa petition on the journals
OF that day. He knew the present situation OF
the people in his section OF the country. He
was particularly acquainted with the condi-
ton of the three counties in which he practis-
ed he knew their distressas aud was ready
10 relieve them He dwet upon the causes of
our distresses Ia 1872, the Banks suspended
specie payments. Ii was them that goaded on
by cupidity which knows no Limits they had
inundated the country with paper Inflated
with this artificial stimulus, property rose in
price, produce advanced, wheat to So SC
He stat ed that there was another concurrent
cause OF our emharraSsnenis that the late
war had given birth 10 manufacturing eSta-
States, particularly in the north that III.
policy of England was TO crush them by pour
ing her articles into our markets at reduced
prices; that an immense amount was brought
Into the country aud stores were established
al every croSs-road. Was il extraordinary
then, with produce 80 high, aud goods SO
cheap, that the people should plunge into
debI The price OF tie produce OF tie soil rais.
ed the demand f"r amd and negroes and here
were banks al hand 10 furnish the meaus OF
purchasing. The people we're caught IN the
trap aud how are they 10 he eXtrIcated' Mi
Il. quoted, with mary com iiments the account
given y Mr.. Madison III a late letter TO the
Tammai'y Society AT New York, OF the canses
OF nur present distresSes. He commended that
IL hal been our misfortune 10 fabGicatr "A
PandOra's boX, worse than the one OF gold;
that we had sircked ont her in paper. n sent
her IhrO the country To delude and Destroy
that when her pesiilentiai box was opened
l.ir spread III every direction Ii was the
Banking system, mare properly than this bill
winch WAS the gildcd serpent spoken of by the
gentleman from Richmond Calamity was not
confined to war alone England. old III expe-
Renee and proud AZ size was IN arms. never
vet witnessed so much distress from any OF
her wars aswas produced by the explosion of
the South Sea scheme, epaendeTed in the
brains OIL greedy spectators. Inthis country
it was the explosion OF the banking system
The rapid and rnIuouS curtailBleni OF paper
IRON deficiency of specie in the banks
which had brousht on this distress. Mr. II.
v.
wer' as frugal aud industrious as any hut
nader their laudahle desire TO benefit their ia
miles. many of tAem had gone on, aud were
now plugged into debt; that suits had BEEN
multiplied aud that many of the best men
/, the counir were ruined To enrich some
ShNl6ck creditor OF base harpy ; that the icgis
iature only ask ed TO tie up the hands of Gre
dIiorS those npfeelne creditors, who without
reference to circumstances, stick 20 their bond
y claim then pom ii OF flesh lTJn the hearts OF
the people. Graut time to fIu"ailiy and indus
ivy 10 deveiope their good effects perhaps i'm
a tweivemOnth the whiIiwurd may pass over
Gentlemen ash when will the present pres
SIRE cease lie was not gifted wifi! the inspi-
ration ol the prophet any more than they were:
but how do We know but commerce may soon
take some tayoIaUle turn ihat the banks will
make money more abundant?
Mr.. X proceeded 10 reply tn the various ar
gumeuts OF preceding speakers on other points
We are sorry that our limits will not permit us
TO follow him.
Mr.. Thompson. of Fairfax. paid some hand
some compliments 10 the last speaker: and
said, that he should feel, like that gentleman
guilty OF treachery TO those who sert him here
If lie did not make some effort on this occasion:
hut it was to arrest the bill before he House -
MIR. L. dwelt with great emphasis upon its
unconstitutional features; cOniending that II
impaired Tie obligation OF contracts BY which
restriction the hands OF the general govern
ment were equally tied up.-lt also seemed TO
him TO violate that provision of the cOnsttn-
iioH which prohibited state from passing laws
10 make any thing bnt gold aud silver tender
III the payment of debts; for, by this bill il is
competent for a debtor to tender his property
at S-tihs Of it's estimated value which is say
ing IN substance, that the creditor is to receive
oniy75 per cent. Of his debt.
MIR. L adverted to the distinction between
contracts aud remedies and contcnded that
II they were both the creatures of the munich
pal law, the gentleman from \ eIsom had as
serted, Il followed we had as much right TO
| alter contracts. as to alter the remedies for
! their enforcement Would that gentleman sub
| scribe to snch propositions
| MIR. L. cOnteuded that rights and remedies