Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-02-01
KINe 8 Qrrrr. Lam. 2ad. lsla.
To the Editor of the wig. '' 4' ''''


The many communications already published in the
Wing and Enquirer ON the subject Of Relief and Stay Laws
have doubt received the attention. and serious consi
Iteration which demands; and Is with much regret
hear that since the instructions the members from the
county OF Buckingham have been received the probability
is that Star Law Of kind will pass in the House
such will be the casehat the lnombers will
read and study closely the able communication of "Gies"
before they rush hendlong into measure, the evils of
which he foreseen. The affairs and con-
diton Of every nation subject the regular Laws of
Trade and devste only when it becomes the victim Of Le
gssve tanpeng speculation overtra6ine experience
teaching that it ought be let alone. The sole reason
for the enactment OF Stay Law is the that in
two years the crops will pay the debts of those who
present borne down under heavy obligations. On what
ground Is that assertion based Have the wheat crops
ter the last five almost entirely faied7 Who
then, say, that for coming years shall realize
better wheat crops that the market pcs OF will be
higher than now To me, 1t appears that such conelu
sion Is contrary all Judgment. Our grain market prn
cipay at the North and the increasing production of wheat
in the and rich lands Of the Western and Northwest,
States finding easy and cheap transportation
same market, must henceioh, keep down the price of all
supplies the Home demand. Ia fact would be
prsng driven almost entirely from the cultiva-
ton Of wheat in few years The price of below
the which the farmer afford raise tyei
the scarcity OF money, II must remain for time
demand arise and speculation Of any kind
dead tor generation. But in such times these,
act the Judgment Of who have devoted their
whole time the subject of Political Economy, or the
hopes of those who look side of the question those
WHO Know only nardsnp, distress ana
side; yet cannot tell from whence it sprung, where the
end may possibly be
But what he the disposition Of the public mind
now for cConOmising and Teenchmcnt-are they
temined live within their mennz-tO put their shouders
the wheel" and nork themselves of this awful dis
tress fear not for the buyer Of any property. me.
RrOes, particularly disposed TO sell credit would
bring TIVE yye thirty per cent. the cash sale Such
retrenchment will do, and may look in for
ter times" while the credit mania exists. Credit, credit,
credit has been the cry for many years. and almost the
of the land But there relief IN putting off the debit
Pay day aud will come let people think they will
Yes II those who in debt mad sold property twelve
months and paid their dues, instead Of waiting be
sued, going from home every day, leaving their
be scared and frightened by the approach Of any man
with suddle-bngs, should be better of and
cd. have known men alter forthcoming bonds had been
forfeited buy bonds credit 10 per discount
and sell them 10 per discount get To pay
OFT the execution seemingly forgetting that they pay
again. Borrowing 10 pay will not do
The remedy proposed II stay valuation law In the
first the slightest hope of rocf-in the future a il
g!oom throughout the whole Unionthc ordeal
nothing can avert H. aud rcnuins for those who have
spent their substance ovorrndcd rub out and begin
afrcsh-wh the lesson that fortune cannot be- made IN
day-iOr God has sed imam must live 10y the Of IN
brow Under valuation law OF thirds three fourt
Of the appraised value negro property alone would be sold
for negroes will always bring tnn hrcofours OF tho
appraised value any Is awafe-and the shers could
BE- easily induced % levy on thnt property entirely while cat
dc furniture would be seldom Sold Such law would
operate uuu-y 90 the eastern and southern paris Of the
State Besides debtors could not avail themselves Of h,
payment Of their debt after the lapse Of the years How
many do that Thus we have them IN two classes
those who can, and those who cannot give security Now
which Of these classes needs the passage Of such aw
mostly The latter cll-s compOsus much than hal
the dcbor-snd pass the law benefit but small pOf
lion. Security cannot be given now, and II is hard matte
Tor sheriff. equality
The credit of the State, which has been ably dscus-e,
by "GiLES" the due doliberaon Of members
nm convinced that the distress is owning the wild spec
atOs snd foolish internal improvement fever co-cxtcsiv
with the Union. Any thing could borrow monoy-'h,
States got from ErOpcI1dviduals from the banks (an
wish there banks Of dise0unf-for il IL the holt
through which rottenncss crceps)Then let not trust
the fnncious doctrine o stay laws. The times not
they after The war when produce was high Every ar
tclo s ~ its minimum price; hes confidence cXccp
iu cash. and will not have until this insolvency has passe
away, and economy and recnohmcnt plainly visible eve
~ where the backs Of The Virginia Legislaiure.-
Let fop wearing beaver hats and drinking champagne
and put skins and drink hard cider. have thu
humby given hose ideas cs the attention Of the mem
beers ngun 10 this important subject, not with the hope
1sDcfng tiem but that Judgment and reason may be pu
n the scales with the hopes and wishes Of the debtor cas
Tor there point beyond which we CO. ruin must oo'
Instructions CHARLES