Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1843-02-09
EDITORS RESPG.NDEN'CE

RICHMOND, February 8, 1917.
You will already have heard of the indefinite postpone
ment. on i thursday. If tho entire brood of Stay and Nalu-
alton Laws, by the Unexpectedly large majority of Il
every member, except i, beng IN his seat. was
apprchendcd, even on the day that the vote Wa
taken, that the motion for indefinite posIponement
could not be carried at all. Had 1t failed, how
ever. the different schemes would then have been
considered On their respective merits, and the majority
against any ono Of them would have been much larger. |
frgard itlsas a most suspicious result ,notonIy for theered
1t Of the State, but likewise for its prosperity. Had the
law passed, the number y suits would have been multi
piled to an unprecedented extent, and an immense por-
tiol Of tn property of the Stale would have been mort
gagged, 10 secure debts Of It's owners-and the brief re
spite obtained by them would have been succeeded by
their general rrosiration. tulcss some miracle shall oc-
cur within the next two years, i, is not reasonable to
suppose that property and produce viii command higher
prices than al present; and at the end of the two years
Limitation contemplated by the friends of the STAY Law,
unless indeed renewed aud still louder clamors for re
lief" should force its re euactment,-the whole debt
would have all at once fallen due upon the Stay bonds;
and those bonds having the face of executions, such an
amount OF property would necessarily have been thrown
into market as materially TO have diminished its prodnc-
tiveness, even as compared with present prices. The
eject, in truth would have been as destructive as the
descent Of an A lnipe avalanche. And in the mean while,
all confidence would have been destroyed, and the few
who have surplus money, instead Of permitting il toenter
the channels of circulation. would have ,ighiened their
grasp upon il, lest it should be lost in the general wreck.
Bad as the Bankrupt Law may be, Stay Laws would IN
my opinion, be practically fare more mischievous in their
tendency and have yet 10 learn how those who de
nounce the former can, without manifest inconsistency
sustain the la;tcr-lhe princple on which the two sys-
tens rest being precisely the same, and, though differ
lug in then details, leading in many cases to precisely
the same practical results, without any redeemlng fa
ture in the latter, which the former conlessedly posses
scs, to redeem it from unqualified condemnation.
1t was supposed that the decided majority by vhic|
the subject was Indefinitely postponed had given 1t III
quictus for the session: B1 this morning, Mr.. West. q
Tyler, submitted a ~yesulqtion Of inquiry Us to The expedl
ency Of Introducing bill TO prevent the sacrifice of prop
crty, gndeg executions; which was sustained by himseI
aud DIR. Bowel of Amtepst, (the latter gentleman hay
ing been deprived Of the opportunity of making a speech
on the SUBJECT previously by the application of the pre-
vious qneslion.) 1t was again, however rejected by
majority OF uine-a majority sin1ller than belure, which
is, ~ascrlbable to the absence of members from their seats
aud not to any change OF opinion. presume there vii
he M farther effort to revive it-partlcularly as 1t Is pref
~ we'll ascprtainrd that the Senate would reject an
bill ofthrs character. even should it pass tho House.
oIle5 NIL la,,u. I'll the State IH'o Congressional d