Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1831-11-03
WHOLE NO. S3.


'ency. But this evil cannot be imputed
to The States. 1t is mischief for which
others are Justly accountable.
When Il man is arrested, on execution,
for debt which he cannot pay, nor Sc
cure, to tie creditors satisfaction, it may
safely be taken for true, in commercial
community, that he is insolvent; that is,
that his debts exceed his means:
Therefore, the Imprisonment ought to
cease immediately, If he will as mme-
dlatcly, execute an assignment Of has
property, tor the equal benefit Of his cred
itors; to be accompanied with sched-
ule, under oath. And if he requires time
to prepare IA schedule, he ought to have,
it, on giving security for his appearance
when the time expires.
Nothing can be palmer TO any mans
comprehension than the injustice Of le-
gal preferences and priorities, among
creditors whose debts are equally just
/ Therefore all assignments ought to be
/ for the equal benefit of all existing cred
itors.
/ The true design cf Imprisonment be-
ING to produce disclosure and assign
mcnt of effects, when this purpose has
been accomplished, there ought to be no
further imprisonment on any debt.
/ therefore, when the schedule has been
furnished, and the assignment made, the
debtor ought, from that moment, to be
free from arrest or imprisonment OH any
debt casting ut that time
The best informed and wiscst reason
ers on these sub iects, think, that the gen.
eraI good Of society requires, that on the
distribution of his effects among his cred
Itors, not only ought the debtor to be no
longer liable to Imprisonment, but that
the edcbtsthemsclves oughtto be discharg-
ed; in order that he may be encouraged
to strive once more and by renewed eff
/ forts to make a provision for himself and
his family This opinion proceeds on the
principle, that as property is the great
hgament OF society, erery man, as far as
IS possible, ought to be able 10 see, that The.
requirement and enjoyment oft are miH--
IN he reach ct~his efforts and Industry
This is the grand stimulus, which makes
industrious, economical and prudent citi--
zens. All thinking Legislators will be
cauiious that they do not, by laws which
produce little or no benefit to the credi-
tor, oblige the debtor TO consider himself
as one, who cannot, hereafter enjoy the
blessings ofproperiy It's quite obvious
that great and various evils would result
from having in the bosom of society, u
numerous class OF this description of per-.
sons. This topic might be pursued; but
every mans reflections will suggest many
things besides those which are here
mentioned.
For these reasons, the State laws ought
to provide, as far as they constitutionally
may do, for discharge of the debt, to-
follow the assignment and distribution OF
effects.
imagine it would be competent for the
Legislature 20 provide, that when debt
or had made an assignment of his lands.
tencments, Entertainments, goods, effects
and credits, in trust for his creditors, the
fund shall be divided among such Of the
creditors as are willing to receive their
Just dividend, on condition Of discharging>
Mcu debts, If they do not choose to-
comply with this condition, they will re-
tain their debts, with right to collect it
ont of the future acquisitions of the debt
or, but not by arresting or imprlsonlng
his person.
am aware that many persons will
think that law, such as have now sug-
gcsted, would be attended with mischief
that there would be many frauds, In
the disclosures of debtors, much conceal
mcnt, &c.
10 oil cnch Its
two fold; first, that such mischlefs exist
now 60 great extent; secondly, that a
discriminating system is much more like
" to remedy them than a system which
makes no discrimination nor distinction
between willing and unwilling, honest
and fraudulent debtors.
The debtor ought to know, that if he
has property, he must produce and as
sign it, without fraud or concealment, or
else be imprisoned, closely, till he will So
produce and assign his property. He
ought in the next place to know. that by
a fair aad full surrender ofhis effects he
can avoid all Imprisonment.
lie will find also wholesome check
against extravaganza aud speculation, in
the recollection, that his entire discharge
from debt, must, after all, under the pres
ent condition of things, depend on tho
good opinion which his creditors enter
tain of HIM
There is one evil, connected with this
subject now existing, too plain not to be
seen by every body; and too great not to
be lamcntcd by all good men. mean
the commitments for very small and tri-
fling debts. One angry man sues anoth-
cr, for forty shillings, who, perhaps as
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