Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-02-09
LEGISLATURE OF VIRGINIA.
DEB.lTE on TIE STAY Law.

upon TIC proposed Stay Lac.
MIR. EDMUNDS said He rose TO renew the mo-
ton Tor the indefinite postponement CT the bill and
amendments that the subject might be fairly present
ed to the House on its merits. lie knew that this
motion would combine the friends Of the bill and
of the amendments, as well those who NIL ht be in
duced to support Stay Law in any of ils various mo
dicatons; hut he desired TO test the question, whether
the Legislature willing this time to interfere in
any manner with the vested rights of the creditor, by
Withholding the remedy provided under existing laws
for the recovery of debts. The passage Of this inca
sure would be precedent in the legislation of the
State OF the present century, uncalled for by any re-
markabe circumstance, and likely TO be attended with
the most caamitous results. IL is true, similar law
passed during the embargo and intercourse of
l605, when the debtor was prohibited from exporting
his tobacco flour, and other agricultural products; but
both the Embargo and Stay Inv were justified by a
resort to the first great law Of nature and nations
"Saius populi, snprema est lex"-The safety Of the
people is the supreme law As cur ports closed
by imperative mandate Of the General Government,
and expectations suspended by the high consdera
tons Of safety TO the people, equal justice required thai
the creditor should suspend hs collections until inter
course restored The law was again revived dur.
ing the last war when country was invaded by the
armies Of the most powerful nation of the eart-our
fields devastated-the Capitol Of the nation burnt
when our commerce was cut of by the navy of our
enemy, wcay oId greater than ours ard al! agricul.
turu products accumulated in the farmers hands FOR
want of 4 foreign n!arkc..-When the citizen soldier
had a;d aside the implements OF husbanty and seized
the nusket TO march in defence Of his countrys rights
it neither proper just that his creditor should
harrass his family, levy upon his property whilst
foreign foe was upon our SOIL The MAXIM" inter
Grma LgsS sileat-oniidst the din of arms the laws
silenis mightier than civil Jurisprudence itself
So long the continued for the protection of life
and liberty, and the existence OF Government, the
debtor might reasonably ask protection from the rapa
city OF the creditor. Another circumstance charac-
tesiz-d those two eras, which should not be lost
sight of The embargo and prevented the expo,.a
ton of The tobacco ard -four, whilst the markets abroad
became exhausted of these commodities At the close
of the embargo and the restoration Of peace the
raj crops, which had accumulated upon the planters
hands, went abroad to on empty market The planter
received high price for the several crops, and was
has enabled to repair the injury inflicted by the en-
bargo, the war, and the Stay law.
This period, however, presents TO such pressing
consideration There is no embargo, war, aud our
commerce is untrammclled with The whole world
For twenty seven years, have enjoyed the blessings
Of uninterrupted peace passing through that disastrous
period of commercial depression, Indebtedness and
wreck ofprvac fortunes, from ISIS to l622 without
relief law and The last twelve years have witnessed an
era Of prosperity unparalleled in our history II s nj
the close Of this period of general property, that this
measure pernicous 10 the hes. interests of the State
and he morality of the people, is pressed upon the
Legislature. There is precedent Of a similar cha
racter during the present century; and this aw mus,
be resisted not isolated question Of the temporary
suspension OF the paymen. of debts but the first of
series of measures, evading the Constitution of the
Union and the State trsmpag upon the vested rights
of the creditor secured by existing laws liable 10 be
continued TO time, and pushed 10 extent to which
human foresight en- no limit. /. upon this
view he based his first objection 10 the Law.
There was another, and not less urgent objection,
arising from the extent Of jurisdiction by Federal
and State Courts Oar State Courts opened to the
Of the whole Union for the prosecution Of their
claims By the Constitution Of the United States the
judicial power Of the Federal Courts is limited to "con
trovcrscs between citizens of different States" BY
the judiciary bill of 1859, establishing the United
States Courts and the decisions Of the Supreme Court
il is declared that "the laws of the several States shall
be regarded rules Of decision, in trials at common
law in the Courts Of the United States where
they apply. 1t does not apply 10 lie practice and pro-
cess Of the Courts Hence, the jurisdiction of the
Federal Courts being limited to ccnroverses between
citizens of different States, and the laws of the States
passed since leg, having operation the ''prae-
tice and process" of those Courts, this Stay Law
which effects only the "practcc and process would
be disregarded in those Courts by the express decision
of the Supreme Court Of the United States 1t has
been also decided, when person assignee the
whole nssignors and nssgnees mus: appear on record
as citizens Of different State from the obgor, and the
record must set forth facts that would show jurisdic
ton to each onet Unde. this, and various other de-
csions of the Supreme Court the original bond
subssling between citizens of the State,
cannot be transferred by assignment or otherwise
TO give the Federal Courts jurisdiction by the trans.
fer assignment. The creditor residing beyond The
limits of State, may choose his trbuna-he Stale
or Federal Court-and it is idle ssy lie will not select
the Federal Court. The State of Virginia borders on
SIX other States In all the bordering countless there is
probaby much Indebtedness citizens of the adjoining
State and when the sum is sufficient to give the Fede
raj Courts jurisdiction, our debtors may be dragged
from the remo:est county in the Eastern District to
contest their claims in The United States Court in this
city In many counties, this Inconvenience would be
felt to considerable extent, though it constitutes q
small portion OF the foreign Indebtedness The mer
chants of the cities and country are, in numbcrless in
stances, indebted TO the merchants Of Northern cities
They will be sued in the Federal Courts, judgment
obtained, execution issued and levied their pro-
party without regard to this Stay Law. They
may he sold out, their mercantile character pros
trated their property sacrificed, whilst they have
large amounts due them from wealthy citizens of their
own Stale, who shielded by this law. In speaking
Of the mercantile class, he did not them class
having separate and anlugonisca interests from the
agricultural community On The contrary, their inte
rests parable aud Identical The obvious effect
Of this Stay Law being TO njure the mercantile credit
OF the and country merchant several equally clear
results would follow. The merchant in this city,
account of his impaired credit and crippled RESOURCES,
must pay higher price for his goods the Northern
citirs: upon this higher FIRST he must lay larger
profit to himself against The danger OF loss from
the country merchant, from their longer credit and I'm
paired circumstances. AS the planter has the same
ulgence. he must pay this insurance, not only 10 The
town merchant, but alOo the country merchant, as we'll
pretty high profit to the losses from bad debts
and longer credits to the planter himself He was de
srous thu: the people should know their direct interest
in maintaining the high Commercial character and ere
dit of merchants and banks period OF general dis
ess. The high credit Of the banks enables them to
expand their circulation and thus improve the prices
of tobacco and all property. The high credit Of our
merchants enables them TO buy ct lower prices: and,
when there ia certainty in the collection, to se at
smaller profits Il is needless TO say, that tho foreign
creditor will no, push his collections in the Federal!
Courts. The caution and good sense of the Northern
merchant will drive him to that tribunal III winch col
lectons speeches: and safest. When this legisla
tive Outrage ia perpe,rated, shocking 10 our sense of
justice and morality, II is poor md pu prelext 10
require own citizens to look for indulgence and
mercy from the foreign creditor when his own Legls
ature has deprived HIM of even handed justice
In another works inequality and injustice.
Tie merchants oe town and country have two classes
Of creditors. They indebted TO the Northern mer-
chants for purchases of merchandiz,-they are also
largely indebted TO that most worthy md respectable
class Of citizens and small panters