Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-02-09
GENERAL ASSEMBLY OF VIRGINIA.


Hsuss Of Delegates. Tuesday, January 5lst, 1913
spon fhs prePosed Stay Lar.
The mot being the indefinite po-'Poncment Of the ball
vita tho substitutes,
my opinions Of ~ hill under consideration mus
premise, BY saying, that not insensble OF the rseun'a
~ distress which pcrvade- whole ConmenNea'n
unmoved by the cries OF lanentaonwhich nave ech"s
and ra-schocd through tins Hall, in the form OF Pehnohs'
No. s nssnsihe unnoved by these tngs' oo''
a, an. contrary would % God had the u dis
mel dark cloud which hangs lowering over our horizon
whose elements gloom and melancholy, and whose
laundering. are the wsngs OF hitherto happy people
shall not attempt inquire into the OF this over
pocn calamity which has struck down public prosper
w. and inexperienced the people from paying their Just dues
shs dae upon what has superinduced tins scene OF
widespread misfortune-hst has stamped the pleasing
picture Of former prosperity with these dark shadows
and realities OF present ruin and suffering ana uhu
sed such pail land. am free to admit that ge-
neral prosperity more-hat distress Is deep and UNI
versasnd the patriots inquiry should be- not what man,
or what party, what has produced III but IN what
way be mitgated roevedf In every instance OF
emergency and universal embarrassment, II perfectly ne-
r, that many modes OF relief should be suggested but
Sir that the passage OF Stay Law should Obtain even i"'
moment, any serious consideration an the Legislature
Of Virginia, argues lamcntabo degcnerucy OF the an
Gent nrde and dignity of our proud Old Commonwealth.
Amidst al the vicissudes through which she has passed.
and the difficulties she has surmounted she has
borne herself ao by the political independence oil her cha
acer and her strict and undertaking adherence 10 the pn
ciples OF moral recttude What Vrginan is their, SIR
does feel emotions Of pride rise IN has bosom When
sense OF interest or convenience fallen almost mPercepu
by into that dgraceul doctrine OF repudlouon-and our
Federal Government "Heayen the marx! has re-rted
10 abominabe and dishonest eNpedient OF annung he
solemn obligations Of coniracu-tha Virginia, proud old
Virginia the frsi in the catalogue of the Od lheen
vita that ennobing spirit OF patriotism and ehvary wheh
still fingers the bosoms Of her and the proud Tcco
lection Of those glorious deeds which have eonseeraed her
soil and her honor has hitherto preserved unsained h' ma
tonal escucheon. Let then Mr. Speaker IN whose
hands the present. placed her desuneA DO any
thing which will poute her fair but, the contrary,
let US denounce unsparngy the reputation OF other
States mark OF eIecrson indcibe Us Cains ana oeI
up daily, prisons, that beloved Commonwealth, the Od
Dominion which has beea compimented the ''aaSHa
uiruu" msy be saved the hunliion and disgrace
by dlshing the poisoned esace from her lips" But sr
enough Of this. What sir, the Arguments used oy the
advocates OF this law, dissOyng OF legislsuon-S'sy
LAws1 First. attempted be justified on the ground
Of neesssiiy-thaio old snd exploded Sa!Hs Teoie agu-
meni OF antiquity. None Of it. advocates and here So
ct their tontioul will contend that the necessity we are
in present would justify resort 70 the ultra remedy OF
reputation; bar the tine argue that 1t esis loudly
for Sav Lava which will postpone, temporarily the co!sc
ton OF debts Mark Mr. Speaker that II Is thus admitted
Be the degree OF necessity which terminates the remedy
This IS legitimate seqEi'ur, from which DEFY gentle
escape. Now Stay Laws urged as the great
measures OF health sud deyeEance-ihe Panaeea 81 al
Ills and misforJunes. In year more, the
Of adversely and distress shall continue TO Gasn and
fall heavily upon country, ask, SIR, the degree OF
necessity, them wall drive those who admit ihe force
Of the arEumeat now into the Of reputation Our
elf respect and reverence Tor solemn obligations
broken down BY the first STEPS year viii temiia-
with that which profess 70 oahe, and we
Elsy fall the tempting path OF Reputation, kindly
and with little reluctance as MIssissppan would.
OenCemen may now shudder and revolt al the idea They
may tel that burdens however oppressiye-uo
barraSsncnr however peTpexng-no pecunary dIstEecs
however Pauful-no gloom however thck-nor any evils,
whatsoever could induce them take refuge in the
ticOus embraces VI repudeion-But, sir, appeal them
10 say, the enactment OF Stay Law would be ad-
Vanelng virginia STEP least towards the brink OF
this pIeeipce, and creating the probability Of her ultimate
Of j,
therefore, in behalf OF Old UOmmonwealih-in behalf
o; our PrOsperty-in behalf OF those mmutab!e principles
Of rght and usee-and in behalf Of enlightened cav
loving, and law-abidns" constituency; whom have the
honor to represent and whose will all times proud
TO reflects say in behalf Of all these considerations call
upon AL who value either the prosperity character the
STATE 10 lend their influence and their exerons
the probability OF calamity the univerSa-a
disgrace the most lasting, that i possible for civilized
community infct upon itself.
Another argument used by the advocates Of d STAY Law
u that proved salutar in It's effects in 1874, and strange
10 tell that Is urged precedent for Letus
anime, Sr for moment ascertain, the
OF that tune and the present analogous justify
the passage OF law now. In 1914, amidst extremely
onerou and oppressive burdens Of debt enacted that
property should be sold under any execution debtor
would give bond with good security for the payment the
principal interest and the expiration OF year
will deny that this prevented much sacrifice Of pro-
pery-and why Srl Because, before the time had c!aps-
ed Of the debts which had been thus supended
hquidaied satisfactorily arranCed-and the re-
Iie thus afforded great that deemed by
infringement
by thus interfering with the coercion Of contracts Mr. D.
asked why it that the Stay Law proved saluary
Because, before the year expired, there occurred great
improvement OF the times consequence of great and
sudden expansion of the currency Al the Of the pas
sage OF the law, envolved in with the most
powerful OF motions In the succeeding January the ro
nous news peace came, and with peace such flood
OF prosperity, but few countries have ever experienced
Our currency expanded that in the fall of 1875
wheat sold for H. Is and l6 shngs per bushe tobacco
ior 10 20 and 70 dollars hundred. Is apparent then
debt Nhic b,dh Il 4
the Stay Law easily paid off, because two dollar. and
halt then obtained easily one dollar had been
the year before ask, Sir the Of things
totaly and entirely different We peace with
all natons-the God Of Battles at rest-aud not even ga
dim sPeck OF war Is 10 be horizon. There is
no war now soon 10 end IN peace which will bring over
our land sudden tide of prosperity. There is no probable
~ that these enormous prices will be obtained for our pro-
ducts within the time contemplated in the bill
Let gentlemen tell us then, that the Of 1914 is
precedent Tor US now. Another and ] believe the ony
other argument is that property selling nj a immense "a,
cnhee. This Is true, and say in the deepest sorrow
but gentlemen will consider this simple operation the fol-
y Of the proposed rees apparent The debts
nnd citizen pay each other IN ending circle. II
is made TO pay what he him, will be enabled \,
cea OIL his engagement with L, L with d. and 50 on while,
the same money su remains the country settling hmm
mersble debts But Sir, pass Stay Law and yh,t viii
be the consequence Every debtor who il able to give Sc
cuny (and the poor who j. unable n give security
can reap benefits, If any there be- from the law holds
me property until the expiration Of the law and then thou
sands and tens OF thousands dollars worth of pr1ery will
be thrown into market once and sold al a sarrcc with
which the present Sacrifices bear no comparison Then ~
the neh become richer and the poor poorer then will the
Syocks OF toe day gorge themselves with the property Of
the poor industrious man. who has sunk under the wave Of
misfortune; or Of the good and benevolent man, whose kind
ness has prompted him TO become the security Of his neigh
Dor OF friend Yes, Sir and shudder OF the idea-fisa
Wi the cry Of "hard times" echo throughout our borders
hsH will the wailngs Of distress rend the air. and every
breeze which sets towards capital will be burdcned
win ine dstreaes OF the community The Legislature as
iahuI minor OF it, constituency and feengly alive To
al her wants and necessities will be forced 10 extend the
une TWO years or perhaps longer and the event the prrs
sure does not abate in that Time the pretended relief m
be indefinitely postponed, ulumatcy rcpudi,tcd
M u proceeded 70 argue against the provisions Of the
bu' lie commended, that It would BE- u disadyantsrc ,,
stead OF benefit TO the debtor that there was gross and
ganng inequality IN 10 that the poor man unable T.,
give security, could not have It, benefits If anv ID had
"moh ne denied nat the very first section required three
appraisers entitled to 3 per day. which would be- n ,r,,
Increase Of the COSTS that would purchase prorr
when he knew that the bond he had 90 execute for t,
ON tho I'D