Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-11-12
RICHMOND WING.
ArURpAY MonNINo. NoVEMnEn Ia

SATURDAY MORNING.. NOVEMBER ~
Hotels, &C. &C, sec FIRST page Of daily paper.
Alter few weeks relaxation, the Editor Is aeai,
at his post, The attractions OF the country a, ,hi,
the swee,es: season Of the year, and he knowleds
that his duties were con6ded to able hands, Will
they caused his protraeted absence, constitute tn
apology for il.
Within these last few weeks, topic OF very grea
public interest has eng aged the consideration of I'll,
press. We refer to the proposition Of Legislatv,
interference between debtor and credior-io ares
the collection OF debts by staying the process Of III,
Courts. While We are not insensibe TO the intense
suffering OF tho country, we are Of those Who can
not see the wisdom and proptety u adopting any
such exoedient as that proposed FOR relief Without
sdverting to the constitutional power Of a State
Legislature TO enact such law-and not attaching
much consequence to the qu.s ion of power, whe-
Their conceded or deniei;-on the score Of expedi-
eney-looking solely to the probable effects Of n
Stay Law, we are strongly opposed to il. Fsom
the beet consideration, we hive been abls to give to
tive are persuaded its opeSa,ion willu every way,
be njurious-,ha i, will fail Of il, intended effect,
and ultimately assravate the very evils it was de-
|
resides beyond the limit, of the State, i, will fall
with peculiar oppression. While he is cut OF from
such resources as he had right to rely upon at
home, tbsiug unable to collect monies due him)-
he will be EXPOSED to the full risour of the Fede-
raj Courts. All Of this class must be inevitably
ruined. Between domestic creditors and debtors,
il it, effects be no, 80 directly aud palp,Lly op-
pressivc, and unjast-yetss between them, It's ten
denotes can scarcely be salutary and beneficial. at
least to both. We have never heard Of any pro
ject Of Say Law. which did no, contemplate on-
neIns TO ihs stay OF execution a condition requr
nc The d:bior 10 give good security With this re-
QUESTION, 1t is not to bs expected, that the poorer
and more embarrassed portion Of the community,
can comply. They-con,,i,uIing much the larger
portion OF the debtor class-could therefore desye
no benefit from the proposed relief. Others might
eo able TO stave OF the evil day by involving their
Threads IN their difhculties-to their common ruin
and TO the benefit in the end Of graspins credi-
tors alone.
But without reference TO the effects, which, il
they were clearly and certainly Beneficial instead
OF being decidedly, as we think, mischievous, one
might venture upon the experiment without regard
10 nee constitutional points;We are averse to the
principle of Legislative interference in the ordinary
transactions between man and man. In times Of
war, Stae necessity may justify resort to any expe
diem: !ot the safety Of the State or the protection Of
citizens. But in peace, individuals, should abide
the result Of their own actions. A departure from
this rule would 'derange, cmbarrass and destroy
every industrial pursuit. Wild speculalions would
revive with ten fold force, il every per,on who en-
parked in them assured, in advance, tina. if
failure attended his adventure, the Legislature would
come TO his assistance and eItrcaie him rom his d-
hcuues- Confidence would De des,royed-busi- |
ness men would no longe. know what calculations |
TO maks-and labour would be rarely attended with
its legitimate rewards.
Most OF those whom We have heard advocate |
Relief Laws, base their advocacy of them upon the
alleged beneficial action Of the Stay Law, which |
was enacted IN lsli during the last war. That |
thai Law was salutary in its operations, was ow- |
Ing simply to the fact, that IL wss speedily sue |
ceeded by peace, and its baneful tendencies were
more than counteraetcd by the immense ri.e in |
price OF every species of produce, and the new im-
petus given TO every pursuit Of industry. But, for
the very reason that the law then proved harm.
less il will now. in oil nroh,h;.y, r--~- --:--i.e
vous. We can expect no such great and sudden !
increased value TO the products OF the soil nov
which followed the war. A general posiponement
OF the Indebtedness Of the country will only be |
dammiog up the waters Of btterne.s
la these very desul,ory views, hastily thrown
out, We have taken cons dsraon Of tie discredt
which may enure TO the Commonwealth, nor Of tho
danger TO the public morals from resorting TO such
expsdients, 10 every period OF pscuniary pressure
Ii 10 unnecessary TO enter upon that wider field Of
discussion, II it be apparent that the projec. Cannot
accomplish even the frat ami simplest benefits,
which it proposes.
As 10 the possibility OF devising any measure 10 |
give Immediate relief to the people, we comics, our
doubts. We know OF none. Twelve months aeo. |
we thought, IT the Binks had been bi,ed from
re'un'lns specie piymenls, under heavy penalties,
the 'ufisFinss Of the people would have been mi,i.
gated, and this evil day would not have come upon
US. But the hard money men, in pursuit of their
ehimern, we're content with nothing less than the
hard money. They insisted upon requiring the
Banks 10 grind the people, and we are nov realiz.
ng the fruits Of their wise and beae6cent policy
There is no remedy that we know Of, save indiyi
dual economy, reuenchmen,, aud Industry Eich
man must make all he can and save all he can
This, in time, will exrieaie Us as individuals and
as people, from debt.