Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1820-08-22


| anu Jn'uce administered without sale, deuia
! or delay" In tho section Of the bin above re.
! isrrtd TO, The courts are completely closed a.
salnst the debtor. aud he is deprived of his
property without due course OF law, or the
Judgment OF his peers. 1t is confidently he.
| heved thatno precedent can be cited from the
civ,i code OF any people, where so snninsars a
mefaoa has ever been adopted for the recove
.yoI deots, as - attempted 10 be enforced b,
| this singular provision.
The undersigned also except 10 the i7tl
section OF the bill which provides that the
treasurer and managers of said Loan Offices
shall MOI make any loan, bu, for the purpose
| OF making payment OF dcbls, and that tbey
shall so order aud direct, that these loans
snail be properly and faithfully appiied--the
concluding part OF this section is conceive ed Ia
oe entirely nugatory and impracticable: and
the hrst evidently creates AN ineouitable dis
function between the debtor and creditor i'm so.
curing lie former every advantage Which cal,
possibly arse out CT the provisions OF the act
~ grants preference and exclusive priv.
iege. without regard TO public services, aud is
Siear'y departure from the 23d article Ut The
Dili OF rights which is contained in these
words, bat ------- and monopolies are
contrary 10 The genius of free state, aud shall
not be allowed"
The 9Th section Of The bill, the undersigned
VIII venture To- assert, is still more obuoX ious
aug alarming thar those already examiped.-
10 iater"icts the issuance Of an execution iuou
any Judgment or decree until tuo yeurs after
.ne renui.ion or the same. unless the plaintiff
OF BIS attorney shall endorse upou che execu
ton, that lac will receive iu satisfaction Tho
notes or bills authorised to be emitted by The
loan oifres, ia addition to those directed 10 be
rere'eu oy the act passed 9th November.
1919: The first member of this seciion is c.n,
sidered by the undersigned as a flarran, inya :.
sioE OF tue concluding provisions of the I7th
section OF the bill OF rights expressly declar-
ing That right and Justice" shall be admin.
is1erea without sale. denial or delay" They
make The Loan Office notes AN iBdirect lender
IN the liquidation of debts, contrary 10 The
10Th section aud LIST article Of the Federal
Go9s,iintion which provides that 10 state
te"der In payment OF debts."-1hese extracts
from The Federal aud state constitutions are
eApicii ana hhequivocal, AS also those froM
our OIL OF rights. which is declared by the
, ,Etn article aud ftli section ito be part OF
the constitution OF this state and sLuH ~,
riclated on any preteace uhdterer.'
WHIST upon tins branch oil the subject the
Undersigned avail themselves of the liberty
suaran'eed TO every citizen TO demonstrate IA
eainst The legality Of the last part Of The 5Ih
section OF the bill, which makes The oan a.
, ,. notes drect tender in discharge If debts
que 10 Colleges and dcadenits from orr cit,-
Lens south ct Holston and French Broad. i,
VIII pe reauiIy concluded that the state has
tue fisht to receive those bills in paymepi of
her orn dues; but ii appears clearly demon
sudpie tha' she cannot exercise the same ri.Lt
III relation TO the debts due TO our CoIlrSes
anu academies, inasmucl as these institutions
ted States, aud that consequently these resoms
ceS cannot be subject 10 The absolute coutr,I
ana direction OF The Legislature,
!. "a. WIN respect TO The poiicy of passing the
i'm u.iI u"uer consideration, the undersigned be-
iieve, that no one can hesitate 10 rIououncc
IL fuinous OF both public and private interests
VINO VIII give II careful and impartial iuyes,
,iga'lon, Although everyetfort seems TO have
oeen made togive the measure plausible and
aspect, yet upon an attentive scrn
Tiny OF 10 proyisionS--it will be found 10 he
extremely dbcepiiCns and fTaught with The
most destructive consequences.
he undersigned acknowledge that a con.
'iuerabic degree of embarrassment exists a.
nonSst portion Of our fellow citizens; but |
hey do not believe that tits GENERALLY of so ON
DresslVe character as to aniiorise ibis kind of
nteTposillOn on the part " The Ieyisiature-I
u the undersigned are mistaken in this idea:
ne amount OF paper designed to be thrown |
mo circulation, must prove greatly de-
lcieht III afiording the relief so much desired
'iinough specie has been very much curtailed
n It's circulation they entertain The opinion
ne !s, Loan ONCE notes proposed TO be issued,
WI no. operate as an egniraient TO supply its
iaCe' hey cauhot relieve the present dis
fesses, ana be productive of the signal adj.
ahtdSes contemplated 10 the agricultural me.
hahicai ahd manufacturing interests of the
~ or Improve The revenue thereof This
MS VII, not possess snch solid 6nsis as is
ssehtiaiiy necessary TO give them a complete
na SoiVent CURRENCY and secure The valuable
9iscis promised by it's provisions.
Inc frst section of the bull declares thar
hese notes are 10 he emitted on the credit
mi security of The borrowers aud on the pro
ePus OF tho sales OF the unappropriaied lands
inc stale. which the present Legislature
,euge themselves TO apply 10 that purpose.
o every Intelligent man who has ,iirrcIed i,is
L,r.. 4
Ions, ms own experience aud reflec tion |
III di once convince Inn, that bills issued |
pom any other basis, save That of specic. must
'ose heHicleHt and abortive-Owing TO It's
aying no other basis but that of propeIty.
no not being convertible at any time inio
pecie III never can 10 estimated as an eaniya-
ht-ii VIII not engross public confidence but
."st dePreciate, aud it il passes as a medium |
&c eSc 81, al an, ITS value muslin great de
rec be nominal. These propositions have beenj
''ls'actori'y Illustrated by the fate O. Daris'
"o"S mississippi scheme of the Mi>si,sin-
STOCK, aud Treasury uoies issued bv III.
.otates, as wei as by all those cases in which
ate authorities have undertaken In n,t ;,,,o
relation bilis OF credit. LayIn- a corras
)nding foundation |
a, Gain-Aithoush tie notes of these loan
n'ces pmrpoIt TO be Fedeemable IN DDIiU,'
= rom 'he nature OF Tue basis upon whicl,
icy are 10 be established, there is every nm !
,fainty presented as TO The period AZ ,;b;r,,
70 redemption shall be effected. Should The
iDiic Lands be speedily brongLtir,to marker.
Re hfst instalmeDt will not probably be paid
10 tne treasury before tie next session of /
e legislature; what may be The tcmner a,,,i ,
unions OF that body eighteen months hence
Undersigned feel themselves incompetent,
deiein'ne-it Is, however, by no msaI,s I'M
oDabie inat they may in their deliberations | }
s,ue ,oa. NE awi: nnconstitn,ional, as vs. eli I
'u'"ouSaod impoliiic IT, its operations and | 4
oceed 10 repeal the same, when s,rick en- from !,
= statute books, the security of the state Inv /
lich those bills are sustained, will entirely T.
nish, ana they wiii rest exclusively upon Tho E
a Upsiiy rieuseu ny The borrower. From nlI /;
csc circumstances combined. the opinion ia :,
aVo'dahly induced upon The minds of ,l,e
derSlsned that the basis OF these notes is -
from being SOlid aud permanent. and such y