Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-02-11

that floor who desired to impair the glory gritty OF
Virginia we all have lie same object in v'ew-the best
interest oil the State and people, who haze onored US
with their conEdence--but il was natural that men
should differ on this, as all other great questions of
State policy. lie said he was not insensibe to the
great delcacy OF The ubect aud he thought became
Tue friends OF the measure TO approach II with tie Ut
most caution They ought not 10 be carried away Ii
their sympathies for the debtors alone-they should,
IN their action, look 10 the common good Of all classes
OF the community, aud If they could harU:oEiza
bill that would alleviate The suerings OF the debtors,
not impair The ultimate interest Of The CREDITOR au
suit in tie Common good of all, be, (slr b. pre-
pared 20 act with them. For the present. he would
vote against the molten to postpone, and aid the e nds
Of relief in so amending the bill, TO put il in form
that would IN his opinion, produce the happy and
much desired results 10 which he had alluded. lie said,
he would not speak Of The relative merits cf the
several plans before the House. but he would content
himself by eneavoriug to show that The subject ought
10 be postponed. The first objection urged by the
opponents Of relief was that the occasion does not re
pure t-tha the present not like the periods al;
which the Legislature farmer occasions pissed
Stay Relief Laws Ii is true, said Mr. L that the
haze not prnduced the present embarrass
mcns, that did TIM. of 1898 Sl3 but, although the
nave not produced II, yet he thought he
could SHOW thai the pecnniary em5arrassmcns
were greater than any former period Of cur history
The gentleman from Halifax, with great deal of plau
sb.lity and ingenuity, argued TO prove that The times
not so hard, or money scarce, the friends nj
relief aGiaed. That gentleman proved that there was
more money in circulation tilcn in 1881 and s}2,
when the country "as prosperous and happy. THIS
may be true. Bot will the gentleman remember that
then Tie coualry YVES comparatively Of debt, and
that II is the deRd for money, or any thing elsa that
raises i, in the market, end makes It aud dr.
icu, to get, MIR. Brown said, he vas wiling to
admit, that If the country was out OF cebt,
there money enough in circulation 10 carry
The trade and commerce Of the country. Du,
the country out OF debt? lie would ask gentlemen
Ia look al The condition ut the country from l5D 10
339-wth bloaled and rredeemable paper currency,
supported by mania oil speculation before which, the
specie circular supported with all the popularity Of lis
aathor gave way like rope Of sand before the giant
ouchha prices OF property up TO than double
the presen, pricesali hands 10 debt for property
these unusual prices and when the load o. both public
and ind, vidual Indebtedness had reached It's utmost
height reaction cnmmenced and lei see the extent
oiat action an, what it has produced Compare the
present state ct the currency with what Il lc9
The reports from the banks IN the thirteen following
Sa:es, 10 wit Massachusetts,, New Hampshire, Ohio
Mar yIsnd, Virginia, North Carolina, South Carolina
Georgia, Louisiana, Alabama, Indiana, illinois and
Missouri az made IN 1889 and in 1913, show that they
have cuTa,l-d ioans S9iGi5 .G.-to shy nothing of
he accumulation Of specie aud deposi,es, which have
been withdrawn from The ordinary channels Of circua.
ton.
This shows cu.ailnent of near half of the
tire money of the country the short space q! four
years Bat is this ali; Not so. From causes 10 which
need M, here aude, public we'll indvidua:
confidence destroyed The streams CT credit are dried
mp to their very fountains in this condition, the
nsytary restriction lie acting Inc body polite with si
the intense and acute pain, with which the cyamp ac.
on the muscles of the natural body. BY the ch"nao,
has doubted hio .o+i and tte debtor h'
doubled his Indebtedness Amidst the confusion nnd
panic, The w.nle community have commenced the pro
cess Of collection, and, ike drowning men, graphing
wiki and drowning each other. To she's: how his Is
done Mir. j. sad, take any given number OF persons,
say twenty all indebted one hundred dollars, from num
Der one through the whole list, back to the first hurry
the IN into quldaton and all might be sued-the debts
accumulate with the costs Of twenty sri.s-lhe pro
perry OF all in their turn might be sold under the ham
mcr and sacrificed when by taking little time the
whole could BE- settled without any srils any sacrifice,
or the payment Of single dollar in money. Hence
the importance OF giving time in times OF great en-
barrassnent, accustomed by paDcs great changes in
The noneytary affairs of nation.
We are told Sir, that the only eurr'fo. the present
cn5arIassTen.s q the people, Is industry economy
and me-all excellent prescriptions, bu. you must
keen the aalient alive until the medicine operate.
II is poor comfort the unfortunate debior-who is
readr to be sold out, whose wife and le pleaa children
az about exchanging home and warm fire side, with
which are associated all the fond recolecto:s OF do
,nesc ap2ress and love, for state of vagrancy-to
be told that he must rely time, industry and econo
M; to give him relief IL, SIR, his property would
bring any thing in the market-lf it would only
nav his debts when sold, he might be comIcr!ed with
the recollection that he might again find another home
and sres!de around vi ch could assemble The Oh
iects of his and objection, and again light up his
hearth, with what is dearer 10 The good mans heart
than all the world besides the happy SMILES OF those
who by The laws of God ana his country, have been
conhdrd to his care. But, can we reasonably expect
INV such results If you sell him out at this time: lie
ran ONLY hope 10 be stripped Of his property, whilst his
Indebtedness will hang like manacles on his limbs
Thus you lake awey ms nieana, and paaza his efforts
IN r,ept the demands OF his creditors.
ask. IL gentlemen can see nothing in this state Of
,hnrs that might require the Legislature TO Interpose
and Tetard the progress of collections, here the debt
or can give good security for The ultimate payment OF
the debt and thereby promote the best interest OF ai
glasses Of the community. But sIid Mr. b., gentle.
men are pleased tell u.s. that any law arthorsng stay
bonds to be given, any other relief law, 10 practical
repudiaton If So ali legal forms and proceedings
are full Of reputation. The whole sysem of datoFy
pleading and of giving forttcomng bonds, as no" al
loved by Law, s nothing but reputation, III 's fonse
Of the word Br., is this the true scnsc and meaning
of the snr; repud:aon' II SO, IS stripped Oh more
l,,aa half lis horrors 70 my Here Mir. Is argued
10 sboy that tie duty Of the Government 10 pro
,ect the citizen against great losses aud haIGsns-oc.
casioel not by the folly aad rscouduc, ftha citizen
himself bu. by the action of the Government lie ar
rued tina. ii The policy Of the Government had occa-
sioned great expansions and contractons o the curei
cy and thereby great inequality in the fortunes ana
circumstances of the people, the high dictates oil
moral Justice required that The Government souu give
such aid the suffering class of the community, as can
be gwen in accordance with The fundamental laws and
ussgrs of the country. he commended that this could
ONLY be done by making more tafdy she remedy Tor
collecting of debls and requiring the debtor as an
equivalent better the Ultimate payment OF
the deb. lie said another objection to relief law
was, ,ha, would do grea. injustice 70 TIE debtors
whose creditors resided cut of Virginia, oy sutjsc'ing
suc! debtors 10 be sued in the Federal Courts But lie
imagined bu, little difficulty could arise from this source,
because the debt had exceed f7e hundred dollars 10
give such courts jurisdiction Besides, he thought!hat
all the friends of relief desired could be introduced by
changing the practice o! the State courts, SO 'hat The
prsc.,ce Of e Federal courts u:j.r The law OF Con-
eress would have conform 10 y, Iut Mat was r,i
a The proceedings in tl;r Federal courts were 81
ready very slow and few creditors would wish, resort
10 that tribunal
MIR b. said that the House had been told that the
passage Of relief law would produce great pressure
and hardship the banks. THIS argument came, TOO,
from source that seemed, former occasions mos.
;ncxorabe against those saeRess eorrosasons Blu! Is
i, true, that it would produce much hardship? De.
leye Tie banks have 10 resort bul very little 10 coilec-
tons throu. the courts, they generally deal with
these who pay ~ very punciuaiiy every sixty or