Columbus Democrat. [volume] (Columbus, Miss.) 18??-18??, 1841-02-06
For the Democrat.

EORhs
For the Democrat.
In my article published in the Democrat Of Sat
urday last, promised TO say something ina future
number respecting the proprety Establishing all
laws enforcing the payment Of debt lnow proceed
bru fly to fulfill that promise.
BIT few persons have ever seriously reflected on
this subject; aud most ofthen doubt not, will re-
gard any opinion respecting it, different from the
current notions,as extremely absurd and ridiculous.
But let them inform themselves upon the subject
and they will be satisfied that il is question OF
deep and mpmentous interest; in fact that 1t carries
in lie train consequences Of more deeply interes-
ting character to society and all its relations, than
any other political or moral question, that could be
presented TO The public.
A first consequence of the existence ofaws rem
derng debts ega! instead ola mora obligat ion is
10 lower the standard of integrity and honor, and
thus debase, more or less the mora character of the
whole mass of society. This consequence follows
because, integrity sell respect, and honor, are not
in the Least appealed to- in most OF the transactions
of societyon the contrary the law presupposes thai
men dlshonest,or at any rates unwilling 10 pay their
debts, and hence require some little lashng TO make
them do their duty. Now thus is degrading to a
being possessing moral faculties, which ought, and
might be the guide of his actions were the nstitu-
lions OF society regulated as to call them into aC
| ton.
On the other hand if all debts were made debts Of
honor, every honorable and moral feeling of our ma
ture would be called into action, as the manner in
which the dt BIT was contracted, would be dircc
appeal to their elevated faculties. Even the lower
faculties OF our nature as selinterest and desire
of wealth, would he made subservieni 10 the pur-
pose of truth aud Honesty for every one would
know, that 10 enjoy The benefits Of credit at s, he
must faithfully and punctualy comply with his con-
tracts. vi Twill thus be seen that a premium
would he held on, for integrity and honour, and that
these would constitute mans most valuable pos
Las they would be the onlypassporIs TO wealth
respectabilty,and distinction in society. man who
would tail to pay debt oil honor contracted under
such circumstances would be forever disgraced in
the estimation of society however weathy he might
be- and the man on The contrary that faithfully com
Piled with all Of his honorable contracts; however
poor he might be, would be trusted, respected and
esteemed. In such state Of society there would be
a real aristOcracy-an aristOcracy Of principle and
honor, and not as is now an aris0cracy Of wealth.
Many no doubt will think that the binding form of
law, is necessary TO make men comply with their
promises but all experience IL against this con
clusion. Most of the debts Of sporsmen contracted
among themselves are considered by them in the
light of debts of honor and every one knows thai no
class Of men are more honorable, in paving such
debts than they are. Many Of them will entirely
neglect to pay what they consider their legal debts,
but who will nevertheless faithfully comply with all
their honorable obligations. 1t may be mentioned
Toe, that many young lnen in every community con
tract debts which they honorably pay,'hough by law
nothing could he forced out of them. They regard
their debts, as debts ofhonor, and by manv, they
are faithfully aud punctua|y paid. The British
House Of Lords in its judicial capacy,may be men,
toned as memorable instance, Of the effects of an
appeal TO hoAor, on the conduct OF individuals. The
members IN their judicial capacity take no oaths OF
office. but as legislators they are sworn to perform
their duty correctly. Now what IS the effect As
legislators they do MT hesitate to resort 10 bribery
and corruption, 10 accomplish the purposes Of party
but as judges they perform their duty strictly and
honestly, forming one oi,he most upright and I'M
Just judicial tribunals in the world. And this is the
case, though the members individually are as profit.
gate and mercenary as any similar number OF men
taken promiscuouSly in Great Britain. Now what
is the cause Of these different results in the two ca.
SEES Evidently because in the one case their pride
and honour are alone appealed to, whilst in the 9th.
or these feelings are neglected, and the motives Of
1 action thus lowered and debased.
uut duOtiltE CuuSCuucHCC VI the existence OF laws
enforcing the payment Of debts is that it leads most
individuals to a loose aud imprudent manner Of
dealing. Sellers are ANXIOUS TO SELL and they invite
every body, whom they suppose has the means Of
payment 10 come forward and purchase which they
do, at least many of them, TO an imprudent and
reckless extent. The consequence is that many Of
them are involved head over heals in debt before
they are aware of H. They are finally compelled to
submit TO law suits, the costs of which added To the
original debt, and the sacrifice OF property at public
outcry leads speedy ruin, and the utter prostra.
b ton Of every scheme of honorable ambition. The
creditor too gains nothing BY these DELAYS in nav.
mant, and sacrifice of property; for had he received
the cash, or had his debt been punctualy psd. he
would have turned over his money several times
: aud might thereby have made at least thrice the
profits that he could whilst waiting the tardy move
ments OF his debtor. Besides this, creditors lose vss
sums at times BY an imprudent extension of credit
They form heir judgment of an individuals capacit,
or wilngnessIo payrom. his apparent circumsia nee
and not from their estimate of his mora worth. tn,
consequence Is they are often deceived and hea v,
r osses are sustained, and even bankruptcy, IN some
. cases, is the result
shall not at present attempt 10 depict the mis-
cry, the disappontments, the utter prostraon q
n all reasonable prospects, which almost inyariab
J result in such cases shall reserve them lor ID
Y 'uIs consideration will only rsmart a, prsssr