The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1843-03-07

many ys.ss 70 :sy.s:' = - nsv nagissA e'ssss
communities. They hsvs bean tried N OAie aa2
Kentucky, and are yet retained ~ useful and salu
,ary Michigan has tAss returned 70 the bard moasy
sysiem--throwiny Oh the spurious currency Of he,
Jsdsy and sesld-csl banks. Ia the Missouri Leyisla-
turc we hnd proposition for traaspisaiiDg ha vsu
alton principle into her code Of execution.
III there ever were circumstances which could
Justify tbs Introduction Of the vsiustoa condition.
oonDexion with sales under execution, they cxis
now"
This was evidently kind hint 10 Missouri-snd Il
is possible the following remark had some influence
on the fate Of the currency bills
"Humsnc ents--especislIy Domocrsciss
always minge mercy in the execution Of JUS
In the following extrac, we find warrant for uni
yersai relief:
remedies given for the enforcement Of its judgments
according I, tho circumstances and exgencics of
society; aud what cxacton is made to operate on
property, il is adapted TO the nature Of tho subject
affected by IT,"
Bat here comes the sweeping recommendation.
not only Of valuation laws, but Of making land tcn
der in payment of debts:
"When tho fearful cholera made II. nroprc.s
through the land every benevolent man thought that
he ola some service II he communicated through the
press remedy which saved few patients in hs sec
ton OF country. So we as an editor feel il duty 10
throw before our readers such modes of relief as our
opportunities Of converting with enlightened men
from oil quarters Of the Union apprizes us Of hay-
ing proved useful in their particular sections. Il
cannot surely, offend any who may think the system
unsuitable to the portion Of country in which they
live, that we speak Of its effects another. where
beneficial.
at was under this Wow tina. we yesterday advert
ed to the operation Of the valuat principle in con-
nexion with the execution code Of several States
Alter writing that paragraph, We converted with
distinguished member Of Congress from Massachu-
sets on the subject of tho valuation laws Of
that State. From him we learned, that when
an execution issues, and 10 levied upon real es-
tate IN Massachusetts, tho debtor chooses val
uer the executive officer another, and tho cred l.
or third These arbiters set of such portion to the
real tate as according to their vslua,ion is held
sufficient 10 discharge the execution II is laid off
by boundaries, and conveyed to the creditor full
satisfaction OF his debt il valued 10 the amount OF it,
And yet year Is allowed TO the debtor to redeem it,
until the expiration Of which the creditors title to
the estate is only conditional. When real estate is
forfeited under mortgage the debtor has three years
given alter the foreclosure before the ownership be-
comes absolute In the creditor.
"Our Informant stated that this has been the law
OF Massachusetts, from the foundation of the Govern
ment that It has worked we'll /; aud that there is no
disposition evinced among any portion of the people
whether creditors or debtors, to abolish the law
ms statute must have much effect in maintaining
the value of real estate in Massachusetts, When the
laws have made it certain that such property will nav
debts at value which, by long, ettied estimat. 5,
must be pretty well and generally understood it is
made to answer one of the ends Of ready money aud
SO far from being unsalsablc and cumbrous means
which such property always is lsewhere-lying on
the hands OF the oppressed trader when hard times
come, and stagnatlng all the capital he may have
invested in 1.-THE landholder inds in his real es-
tate resource equal to its full value in specie
This is certainly calculated to invite capital in in
vestment in the il and to its Improvement This
system of Massachusetts policy is recommended not
by enlarged view. Of public policy, looking to the az.
grandzement Of the Sate through the subdivision Of
the lands-the multiplication Of owners-the invest
ment OF capital in improvements the infusion of
their value so enhanced as so much additional &C.
tive capital, to enter into and swell the currents of
trade"
We think the Globe should revise its opinions on
the subject Of relief 1t has evidently advanced loo
far in avor Of ntercrcnces between debtor and cred
tor, and may inuro its standing and tho cause it sup
ports by urging such views Stay and relief laws
may seem to work well Temporarily, but they never
fall in the sequel to be productive Of evil to com
munity' and generally PROSTATE the party by which
they are enacted
In its opposition to all banking, the Globe should
also pause, II IT would OF make an issue which
would defeat the Democracy at least four-fths of
the States of the Union.