Southern telegraph., 1837-04-18

lt+e - VI t
e'sa capital aad cutting eli our Resources
ai q iine uhcn &c all Others, they arc
most in rcquisltaa.
Let las now proceed toexamiae each Of
,0eso points BY he Ggh,s of experience,
and under the guidance Of so and principles:
discarding distractions and Elncildltheories,
aud every consideration that will not lead
to practical results.
lst. A law impairiag the obligation Of
contracts or the remedies upon them, woald
be unconstitutional and void.
1 care not by what means such a law
may Interfere with the obligation of con.
tracts; whether BY denying the privilege
If bringing suits to enforce them; whether
by making judgment upon them en-
ditional and useless one, or by gWn'ing to
defendants in execution the benefit Of a
perpetual repleyih Of property, they are all
repugnant to the letter aud spirit of our
laws, and to the genius of our institu-
tions.
The Constitution of the U. States, Art.
j. ; 10, declares, that "no state shall make
any thing but gold and silver coin tender
in payment of debts; pass any bill of attain
der, or er post fieto laIe, on LAW IMPAIR
ING THE OBLIGATION OF CoNFRACTs;" and
the Constitution of Mississippi provides that
the Courts Of the State shall be open, and
that Justice shall be administered "wiihout
sale, denial or DELAY"
Here il necessary tounderstand what
may properly be deemed simpairing the
obligation of contracts,' IN tho sense of the
Constitution.
Mr.. Justice Story, in his admirable Com
meniaries on the Constitution says, sat is
perfectly clear that any law, which enlarg-
es, abridges, or in any manner changes the
intention of the parties, resulting from stip-
ulations in the contract, necessarily impairs
it. Tho manner or degree, in which this
change is effected, can in no respect influ-
encc the conclusion; for whether the law
affect the validity, the construction, the du-
ration, the discharge, or the evidence Of
the contract, it impairs its obligation,
though it may not do so to the same extent
in all the supposed cases. Any deviation
from its terms by PosTPoNING or occelerdting
the period Of Performance tohicA ID pre-
scribcs; imposing conditions not expressed
in the contract; or dispensing with those,
which are part of the contract; however
minute, or apparently immaterial in their
effect upon it, impair its obligation. $50
ry's Com al the Const. Ed. BoSt, 1888, p.
SOB.
The Legislative and Jutiicial history Of
several Of the States Of this Union furnishes
cases precisely IN point, which we're decid
cd on principles in accordance with those
Just quoted from Mr.. Justice Story. The
ofKentucky, in the year 1920,
passed an act granting a stay Of execution
upon judgments for two years, unless the
plaintiff d his attorney would endorse upon
he process that the amount might be paid
in the paper of the Bank Of the Common
wealth Of Kentucky, at par; the notes off
that Bank being at the time worth less that
fifty percent of their nominal value. The
aw was contested before theJudiciary; and
he Hon.James Clark, then a Circuit Judge.
out now Governor of Kentucky, decided
n the well known cases of Blair as. VIII
iams and LapsIey Us. Brdshear, that the
lct was unconstitutional and vgid. These
,ases were carried up to the Courtof Ap-
,eals ofthat State, where the judgments Of
he Court below were affirmed.
In the year 1912, the Legislature Of
North Carolina passed an ACT, declaring
hat any Court rendering judgmentagainst
lebtor, between the 3lst December, 1912,
nd the LIST February, 1914, should stay
he execution untilthe irstterm OF session
f the Court after the latter period, upon
he defendants giving two freeholders as
ecurities: but the Supreme Court Of that
State held the law to be contrary to the
lause ia tho Constitution of the u States,
State to pass law impairing
he obligation of contracts, and declared il
,be void.-Critteadea ps. Jones, 5 TalI's
.aw Jown. 500. Vide GrimJall es. Ross.
Halls LaU Jorn. 95.
The Legislature of Missouri enacted, that
roceedings should be stayed for two years
nd half, on executions where the plain
IF or his attorney should not endorse, that