Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1846-08-04


past debts. A debt arising upon upon con.
tract should not be the subject Of litigation
to enforce payment, but debt arising thro
fraud or misrepresentation should be class.
cd as torts for which the debtor should be
liable for non performance and sublec, TO
f,ne and Imprisonment the same as for
larceny. The consequence upon the bus.
mess community would be that no man
could obtain credit wilhou. giving securi.
ty unless he had character and reputation
for honesty and integrity which would Sc
cure it 10 him under any circumstances
where he was known and when a credit
was given under such circumstances tho
debtor would know that it was given to the
character as an honest upright man and
then he has one ofthe strongest incentives
in the world to impel him 10 fulfil his prom.
Use; TO preserve gsod character, which
but few men would lightly sacrifice if they
only thought they proved it. On the 9th.
er hand az individual who had obtain
ed a credit and refused 10 pay, could
have no excuse for his dishonesty ;he would
be branded as dishonest man and one
who the law ranked with the feon, and
the community would brand him as such
and as indellible n mark would soon be set
upon him as the Almighty placed upon the
first murderer and he would soon be COM
PEELED TO exclaim my punishment is great
er than can bear.
PerhaPs it may be apprehended that
much embarrassment may arise in the
business Of the community should such a
reform be made, but on a little considera-
lion think it will all disappear, for rs the
law now stands unless man has property
that may be taken in execution the prop
ety he has affords to the creditor no secu.
ri,y for his deb, whatever, and il the indi>
vidual has property he can give security at
the time. Suppose chauel mortgages were
substituted, a short form adopted simply
reciting the debt, describing the property,
and giving the creditor The power Of sale
at the expiration Of the time limited, such
mortgage to be filed in The town clerks Of
! fee when duly executed and 10 be a bona
fide lien upon The property againstnll sub.
sequent purchase or mortgage. Let the
mortgaging of property, OF which The mort
gagor has no, the clear RICH, be misdemea.
nor, or the giving a subsequen, mortgage on
the property wi,hou, disclosing such pIevi-
Gus mortgage (such fac, 10 be stated in tho
subsequent morigage) also be misdemea-
nor, then ifan individual had property he
could readily obtain credi. by giving his
creditor lien upon i, which would be his
security, If he had none. the man who trust
ed him would be as well off then as he is
now and none the worse but we think for
reasons hereafter stated far better off,
I The principle would soon be established
that all debts not secured by personal prop.
erty or otherwise, were debts Of honor, and
then The proper stimulus is applied to in
duce men 10 be punciual, which is the lille
business. Another advantage Of the sys.
TEN, if credit is given suppose man to
have team or Wagon or any personal
property he gives mortgage and the time
Of paymen, stated, and if notspaid the mort
gagec can advertise himself and sell the
property ad auction hout The mid Of
an Attorney justice, jury and constable,
all 10 be taken from their other employ
ments and 10 be paid for their time and
services in the shape of costs.
Can there be any doubt as 10 the oper.
alton Of such system; Is it not partially
in practice in regard TO dealing in real es.
tate, is in not the almos, universal practice
when real property is sold upon credit TO
take security for the payment by Mortgage
upon the same or other real estate, and
how lille Of tine actual litigation and costs
arise from Transitions Of iha, kind when
compared with the amount actually paid
growing out Of the constant system of sell
! ling p rsonal property Oh a credit and rely.
| ing upon the law as il now is to protect The
creditor. Under such system lei the in
dividual who OBJ ans property by misrep'
reservation or fraud in any way--be liable
| for il an action at the suit Of the vendor,
| and if con yicted be liable for The value Of
the property, and costs 10 he imprisoned un.
til the damages are paid, treated IN that case
the same as tho he had felon ousIy got pcs
session Of the property and converted it
TO his own use; but on the contrary If
man trusts another without security et him
do i, on the honor entirely ofihe debtor, if
he does so he is sure not 10 waste time and
money in vain attempt 10 collect il by
| law.
There are other and very imporian.
changes in the law which cnll loudly for