Independent Democrat. [volume] (Canton, Miss.) 1842-1844, 1843-04-15

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From the New York Journal ofCommerce.
RELIEF LAWS UNCONSTlTUTlON.
AL.
In n recent NUM- or Of this paper we
announced the fact that the supreme court
Of the United States has decided the
Relief Laws of Illinois (and the &c ision is
equally applicable 10 the Relief Laws ct
other States.) TO he uncoaShut oHm.--
Through the kindness o. friend at Wash
ingtpn, we are now enabled t. lay before
our readers the opinion OF the Court IN &C.
tenSo. 1t is perhaps the most important
opinion that has been delivered, on con-
stitutonal question, since the origin OF our
government. 1t will do more to restore
confidence tnan any legislation. We learn
that it has produced a great sensation at
Washington. as it will do throng hnn' the
country, and especially in those States
where valuation, thy or relief laws have
been enacre. AL such laws are nnIfiel
by this decision, in reference TO c'ntract*
mlde previ us t. the enactment; and It is
such c,ntacs alIne, that prompt the
enactment If such laws. AL oihrr courtS,
both State and National, are hound By Ibis
deri,ipn. 1t is now for the first time gwen
10 the public: having been revised tor the
purpose by Chief Justice fancy.
Supreme Court of the United States.
JANUARY TERM, lS43.
Arthur Brownson, compt.0
VS.. On certif-
John II. Kinze and JIli- cafe Of division
cite his wife, Edmund K. in opinion be.
Busting and John S. Bus tween the jud,
sing, the President Drec- ges Of the cir
tors and Company of the : cu, Court Of
State Bank oflIlinos. Jay the United
Halfway. Mary Ann VOL States for the
coti, Daniel S. Griswold, District of H.
Coroine Dunham, and inols.
Alonzo Huntington.
Mr. Chiet Justice fancy delivered the
opinion OF the Court.
The case comes before the Court upon
division OF opinion in the Circuit Court of
the United States for the district of Hin
OILS, upon a certlIn question which arose
in the case, and which have been certified
to this Court according to the act OF Con-
gress.
1t appears from the record that on the
18th OF July, 1886, John II. Kiuzie exc
cuted bond to Arthur Bronson condIt-
Toned for the payment of $4,000, on the
LIST of July, 1912; with interest thereon
10 be paid semi.annually; and in order to
secure the payment of the said sum OF
money and interest, Kinze and wife on the
same day conveyed to said Bronson IN fee
simple by way of mortgage, one undivided
halt part of certain houses and lots In the
town Of Chicago with the usual provlso
that the deed should be null and void if the
said principal and interest were only paid !;
and Kinzie amnng other things covenan-
ted that If default should be made in the
payment OF the principal or interest or any
part thereof, that ii should be lawful for
Bronson or his representatives to enter up
on and sell the mortgaged premises at pub
lie auction, and as Attorney Of Kinzle aud
vile, 10 convey the same TO The purchaser
and out Of The money arising from such
sale to retain the amount that might then
be due him on the aforesaid bond, with the
costs and charges Of SHE, rendering the
overplus, # any TO Kinze.
The int esl not having Teen paid. Bron-
son on the 9th OF March, lS4l, filed his
bill to lorclose lie mortgage. In the
mean time, after tie mortgage was made
and before the bill was filed, the legIsla-
ture of limos on the 18th Of February,
l64l, passed law, the S:h section, "i
which provided that morrgagors and judy
ment creditors should have The Same night
TO redeem mnrtgaged premises Sid 'y The
decree Ut Court OF Chlncery that had
been given to the deb'os and jurgmcn
creditors by previous law passed II
1928, in cases where lands were sold I'm
der execution. The law of 1872 ), author
lzed the patty, whose land should he soil
ny execution after the law took effect, L
redeem them within twelve months of th
day OF sale, by repa,ing the purchase
money with interest at the rate oil ten pc