Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-02-03
REMARKS OF MIR. FRAZIER
Or AUGUsrA,
UPON THE PROPOSED SrAN-LAw.
IA. -.. A.. ia, '.4ss-ie s'',-s-.-' Fl ia, EN- .' ia.

already subject well part OF
icnds OF the proposed opponents he telt
reluctance participating In the debate More espc
ciay IN OF the mastery argument submitted on yes
tcrday by the gentleman from Halifax the same side with
himself prudence might dictate silent vote; but the
nde OF the subject, the deep interest eNeiics among the
poople and the omission of some views and arguments BY
those who had preceded him. would hold him justified he
hoped in asking, for bnof space, the attention OF the
House.
What Mr. r asked are We called to deliberate about
Questions intimately affecting the rights, the obligations
the property, OF every citizen OF the Commonwealth
We representative character TO pass upon rropo
sons which 60 the Of every contract OF c
OF the land The subject before then, Mr. Speak
en- whose importance, and whose magnitude can
cNaggcratc; scope il broad the wide linn
Its of the Conmonw cnth-and in its character is
which "comss home the business and bosoms o men,
As such, challenges the gravesi deliberations of this As
/ sembly.
For myself trust | shall be regarded using the
phrase ot affected modes;y when that add
dress myself the task OF this discussion with
wheming o the magnitude of the subject, and OF
inability 10 do it justice. And yet SIR can at all
succeed in conveying the mind OF this House those views
and considerations which have commended themselves
my mind and informed my own judgment, shall not
altogether despair OF placing it in such light may
some member, perhaps, 10 pause before taking step
which, though prompted by the most humane motives of
the heart nevertheless trOugh, as 1t seems to me- with
! unmNCd evil To- the State.
Wherefore is this Of legislation invoked We
told that Is 10 relieve people suffering uneNanpod
embaassmcni-thnt property is depressed m value, and If
forced into market must be sold u, ruinous sacrifice
Sir, shall attempt disguise this House my
mind the distressed condition OF the country, seek
throw the gloomy picture ray Of sunshine that
does rghuully belong 10 it. But cannot forget that
suffering the bancul effects ui embargo
and la, that longer ravagcd by
desoating war; and that in time of profound peace,
peace with all the world, ioregn Zoe upon shor
internal strife dscod. spcck of all the sky;
like this, when the grateful earth Yields her teeming
fruits the Of the hu,banduan and the Creator is la
wish ct his bounes his man, in such time
asked nerposc between debtor and creditor, and
lay the rude hand OF legislation upon that most delicate
subject, commercial credit But grant to gentlemen every
- - uAfr
(Which do for sake, and not because suppose
literally Fue) that the country with all it, interests, has
attained the last stage OF aophy and exhaustion, s that
does not show- falls far short OF ho"ing-ihat the pro-
posed Of relief vii! operate any relief 1t shall be
my purpose, Mr.. Speaker to demonstrate can, that
would have the directly opposite elect and would itself
constitute important accessory and ally that combine
ton Of which has already wrought such anentabc
decadcnce OF public and individual prosperity. | shall
with the possible breyy, consider this subject un-
der two general heads-its eonsuuonaity aud expe-
diency
lt Is CONSTITUTIONAL question never addressed in
vain Virginia Legislature, lightly needed by them.
And gid scrutiny Of this branch of the inquiry lead
to conclusion in the negative there end the ques-
uon Tor nothing can be eXpedeni which constitution
a. may be said with emphasis that rgd adherence
the Constitution Is tine highest expedency.
Rightly 10 investigate this point would require look
back 10 the history OF the times and Of State legislation
ecedeni TO the constitution OF the United States and
marx the necessities out OF which that instrument grew
Mr. F. briefly RGvcrted 10 the condition OF the States under
the old Articles u ConiecsraLOntheIr unlimited of
deprecated paper cuuency-their tender laws su.-
pension and valuation laws &C. many OF which were To
be found upon the book Virginia and vet more
abundany upon those OF other States. lie cited tn STAY
law November ISL staying executions u Dec 1888
and the Of December SO revying and extending the
former This legislation it was this iamperius
with contracts by whole brood Of sOcaed rclei laws,
peserous and fatal the character and commercial credit
Of any people, which contributed much any other
TO the adoption OF the Federal Constitution
introduction into that instrument Of tho 10Th section con-
tanning this among other restrictions upon State power No
State shall have power To coin money emit biIIs of cr.d
10, vk,a bot ,.a-I,s.-
o dtnnor 10 pass sy eAp"st ia'to law or sw impair
ing the obligation The manifest design here
was to restore violated faith aud raise the country
that PROSTATE condition into which had been plunged bv
immoral State legislation The Constitution designed
10 establish SGartify oiconirac weaken them
to enforce their execution abogaie or impair them
What Is meant by the obligation OF contract Every
contract carries with Of obligation moral and
ssai the former subject only divine authority Of the
latter human laws also take o.nzance contract i de-
hned 10 be IAN agreement between competent parties
do do particular hinE; the law enforce, the per
iormaEce OF this agreement and this Is the legal
81 the contract But gentlemen take distinction be-
tween the obligation ana the legal remedy and that
whilst touch the former may modify or change
please the latter. In reply ask i not time an
essential element OF every confronting
consideration IN every sac Of property wht Their be sold
Tor cash upon time sell YOU NV hOrse and YOU con
irGc; 10 pay IN three monhs-bcore the lapse of that
time the Legislature in,erPcse and he shall pay
Tor fieere months And II they postpone il for one
year. they may Tor ten hundred, the principle
the sGme-and thus, though you but acting upon the
legal remedy, you III effect merely impang but
destroying the legal obligation by destroying its vitality
and tho the moral obligation remains full as at first
yet IL there not left any seiHd JHs give efficiency
the contract Mr. T. referred other suppDsabe cases of
legislation affecting merely existing remedies which would
he plainly unconstitutional. But Chief Justice MALSHALL
himself taking this distinction. tic e-knoyyn case
OF ogden SGuHdeT clearly indicated the any
Legislative change OF the legal remedy 20 be Judged
Every State he said has within her control the
OF her legal dies but it Is for the rghtI legitimate
purpose OF extending and improving the administration Of
justice by improving her process or other remedies
cripple justice by oiecusy legi-lhng existing RENE
dies The motirs Of the proposed change, therefore, be-
comes the test Of It's constuuonuity Is designed bona
de enlarge and perfect the general administration OF JUS
tcel Then j. constitutional Is the other hand in.
tended postpone and forth defe, coutracts 10 i'm
pair annul them by nparug, weakening annuling the
remedies existing at the time OF the contract Then
violation both Of the spirit and the letter # the cOn-u.
ton, and the check upon such Legislative encroachmcnts
is % BE- found n tc solemn sanctions and official response
bilues under which IL members net. Sir, for what
Government itei established but TO protect the weak
against the strong the honest and the Just against the
les aud tic unjust In the distribution its power YOU
assign the Judiciary the protection the nights Of per-
and properyand this end you with the
Of enforcing contracts But Of what avail Is cO-Ordi.
nate branch. the Legislature, scp between the court
and the citizen and impair annul ms nights by impsrng
or annuIng ms remedies /; j. not les with the
very genius OF free Institutions than with the spirit Of the
Constitution itself.
end The erpedieHev Of the proposed measure. Did
time permit wOula be profitable investigate full.
y, the causes Of present difficulties. But this could
not be done without reference grave political questions
and eminscences and fearful Of Introducing into this de-
bate any thing having the least political psry bias Mr.
+. would content himself with uusiyn 10 the fact
Of the increase Of banking capital and circulation
from 1880 sc, thou tracing that fact back ~ ~. cause
Cooperating with iis stimulus the great rise, abou,
Tue period IN the price Ut stlyc export Cotton
which, Of course, elevated al prices the maximum
This brought Of national mania and ago Tor spe.
collation. and thinking haste 10 be rich" We were fairly
embarked IN second mississippi scheme" or another
"Soutn sea bubble" But all bubbles will bur and 30 did
tnat Of l536-nOt harm essy ike the -ppyc bubbles OF
childhood, but iurDusy A. tempest o mountain cloud
Pyhng IT. angry couent1 upon the heads of devoted PEG.
pie distinguished inancier and esumabe -ento.
man 81 hs city, in peakuE public occasion, those
scene, had remarked that OIL intoxicated then
out a. 'otd 'aer was nov ihe order Of the day,
getting sober Ies SIR fyOu will but s the pcope alone
they will drink cpd water and get sober Sir they have
gotten sober already, and with yongeancs Hea
Eens snke do not h their brain with the phantom Oh
egisanng them out oi debt Convert not this Legislative,
ha into vast laboratory ior ihe connection II any such