Iowa territorial gazette and advertiser. [volume] (Burlington, Iowa Territory [Iowa]) 1840-1846, 1843-02-25
VALUATION AND STAY-LAW.

VALUATION AND STAY-LAW.
As much anxiety has been manifested
by community generally to be mnde &c
quain,cd with the provisions Of the new
Valuation and Stay Lau, we have taken
occasion, to presen. it at large in 10 days
Gazette.
We have ever been opposed to this sPe-
cies Of relief, believing It both uncons,itu-
tional and inexpedient, and we must con
nss that the provisions Of the law in quos
I,im have not changel our. epiaiossr on
this subject. , -a.sr3 49,. 80
I: we know our own thoughts md
feelings, we are as sincerely DESTROYS to
ward off from oil tho distresses Of the
times as any one possibly can he. But
| if there be no legal Or just means by
which the blow may be averted, it's bet
ter tina, i, should fall with lis full force
upon all alike, than that we should by ar
biirary legislative cnac;ments throw the
whole burden Of HARD TIMES upon few
individuals.
Legislatures have no right 10 interfere
| in the private dealings Of private individ.
uals, nor have they the right to make
new terms 10 contracts already eXis-
ting. Acknowledge the principle and
adopt the precedent, and the power to
contact is virtually taken away from
every citizen, because the Legislature sets
itself up us a tribunal by which all con.
tract. must DO ratified and by whi,h all
contracts may be altered or annulled
That the legislature does not right(ully
possess this power, but that it is express
~ prohibited, must be evident to every
one who can understand the language
and the Constitution Of his country
That instrument clearly provides that no
&c post facfo law, nor law impairing
Tie obligation Of contracts, shall be passed.
What is this valuation law but all er past
)acto law-in Other words, a law retro.
spective in Its operation? VIVA, is /. bu,
a law expressly changing the nature,
character and terms Of contracts, and
in every view impairing tho snme?-
The Ordinance Of 1897, erecting the
Territory Northwest Of the River Ohio.
and which has been extended over this
Territory. provides, ed Article, that in
'::the just preservation Of rights aud pro-
"perty, 1t is understood and declared Aal
mo 'aw ought frer to be made, or haze
'..for.e in The said Territory, That shall III
'.diy manner whaterfr inter- ere NTH Or
''cVcct pirate contracts, ar engagements,
..Jora .fiae, and without fraud previously
.'tormet." Such arc the prohibitions Of
Congressman tho Constitution against the
passage OF such law and with such pro-
visions and such authority to the CON
trary, VIC cannot but regard the passage
OF such law by Territorial or even
State Legislature, as an usurpalon Of
power.
Those VINO are acquainted with the civil
history Of our country, will remember
that orc vi, the strongest reasons urged
lordispensiag with ,heod articles Of conle
deralion ana c,r adopting q Constitution
FOR the government OF all tho country,
was the practice which had obtained in
portion Of the states OF lesis'ating re
irospec,iyely, BY which contracts were
constantly changed, anl frequently an.
nu,lea, rot only to tho loss Of portion Of
the citizens where those laws prevailed.
but 10 the loss Of citizens in other states
where such la VS. wcre not in existence,
hut whose citizens were still held liable
(or their obligations tosthe citizens Of
such states as had sucl, laws. The mani
les. injustice OF this system, BY which
the rl!Zens OF one state were made TO
b..ar the loss OF the repudlatcd debts OF
those OF another. in part brought abou,
that civil revolution which gave to The
country its present Constitution, under
whlci, it was intended that the cilizens OF
every STATE ssoul: enjoy cqua! privileges
aud receive eqnal protection. We have
rhus shown one purpose for which the
Convention that framed the Constitution
was cailed-ansl We. humb|y think tina, we
have also shown that that purpose was
carried out inlhe provisions Of the Con-
sli,ution. That it has been otherwise
construed. we are well awarc-but TIA,
it would receive similar construction
again is, we thluls, ut least doubtful. So
firmly Of the opinion first advanced was
Nc. Luther Martin, ono Of the most cmi-
men, civilians the country has ever pro-
daced, that no opposed The adoption Of
the Constitution in the Convention, aud
opposed its adoption by tho State oil
Maryland, on A!egr0and thai ii prohibited
the states from passing relief law,. So
much, al present: for the cousti,utionali-
~ Of this law.
Legislatures on hi IN rennomhar ,j,.,