Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-03-09
STAY LAWS

| Among the interesting articles, which are in g..
days paper, Jay before our readers the decision of
the Supreme Court of the u States upon the cna>;i
,ionalily of the Stay Laws. Some of the Wing cao5
dates intended no doubt 10 make capital ont Of ,s
course OF the present Legislature, ard 10 held the De-
mocfas responsible the polls for their failure 10 pass
such law. But the decision Of the Court has conn
TO cut up this demagogusm by the roots. And ye,
should not be surprised, if some miserable POPULAR
tyhunter should still attempt to raise camoE CT The
subject at The expense of opponent We are happy
to see, however, the Editor Of the Lynchhurg vrg.
MAN, Wing delegate in the Virginia Legislature
holding the following strong language on the sub
ject
"Constitutionality Of Taluation Lars -GFea, Ill
ference OF apinlon exists as 10 the right % ata
Legislature 10 enact Law interfering with The a..
forcement of contracts, by requiring that property m
der execution mortgage shall be previously raiuel
and that il command certain proportion OF asses.
ed value, before sale shall be made. Such law Il
will be remembered, was one Of the schemes ct ms
called Relief before the Virginia Legislature, al i.
present session. and il was gravely contended ..,
it did not conflict with the constitutional ntoyscn
denying 10 the State Legislatures the :igh, 10 IN.
pair the obligation Of contracts, because 1t had te.
ference 10 the remedy alone, and to the right
We ventured then dispute the soundness at tbs
position well in reference 10 this, 10 a.. tie KIN
bred propositions by which it was accompanied aud
some of which, 1t feared at time, would ,e.
ceive the sanction of The Legislature. In Illinois such
a law exists, exempting property from sale unts
DEGREES judgments, until it shall have bee appraised
and unless it shall bring bearing prescribed po
portion such apprasement; and in order 10 lts us
constutonally it has been carried up TO the Supreme
Court Of the U. S which, a few days ago, aunG.et
it, by unanimous voice, with the exception Of Justice
Mclean, declaring that the States have right pass
such law TO operate upon eristtng contracts Tbs IS
On important decision, in the present deranged condition
of pecuniary affairs, and in the consequent unsettled
state Of public opinion, which eagerly sezes upon
every measure having the sembance, or bearing the
title of Reisf, without particularly scanning lis pro.
visions, or deliberately weighing its probable ultimate
effects
"What those effects are, may be inferred from cir.
cumstance stated by the ST Louis Republican, W.
that en- Illinois merchant, who had been in the practice
Of laying in his stock of goods in that city credit
though always punctua, was refused credit one o!
his late ORDERS in consequence Of the existence OF tbs
Valuation law on the statute bock-te st. Ions house
declaring its willingness still to fill the merchants or.
der in his pledge of honor TO pay al the stipuia,
time but refusing receive his any her legal
evidence of debt The tendency Of such laws is he.
cessarily to destroy all confidence between and
man. and still farther to obstruct the operations OF trade
the revival Of which is dependent upon the restoration
of that confidence and Of the credit of which it is the
parent. Fortunate is it for Virginia that her eg,a
ture not seduced by the camors of those who Ike
drowning men, catch at straws, though they afford
support TO the sinking victim, into The adoption Of
measure deceptive and SO runous"