Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1846-08-04
From the New York Evening Mirror.
ABOLlSHMENT OF LAWS FOR THF



ADJUSTMENT OF LAWS FOR THE
COLLECTION OF DEBTS.
We find in the London Times The report
OF committee of the Legislature Of Miss
lsslppl. TO whom was referred petition
from the citizens Of Harrison county, in
that state, for the abolition Of the law for
| the forcible adjustment of private contracts.
The report is not very we'll written. but il
combines great many sensible thoughts,
and concludes by recommending the pas
sage ola bill complying with the request of
The petitioners. Whether or moi ANYTHING
further was done with the matter by the
Legislature we do not know; we have seen
no allosIon to it in our papers, but The move
ment is highly important and the
Tact that such bill was reported in The leg
islatnre OF any state in the Union is an in
dication of more widely extended feeling
upon the subject o. compulsory payments
than we had supposed to exis, We were
aware that there was small body of refor-
mers in this city who advocated the abol>
ishment Of debtor and creditor laws; that
one or more petitions on the subject had
been presented TO our own leg stature, and
that Alderman Chambe riain,a merchant OF
high standing, ayowed IN the common
Council in this city, a few years since, tha,
he was in favor Of abolshing all laws for
the collection Of debt; but we were not
prepared TO find so radical a reform had
travelled into the benighted regions Of Miss
lssippi. The report is too long to copy
now, but we shall try to make room for il
hereafter; it is well worth reading, and we
would recommend it to the notice Of the
members Of our Constitutional Convention.
1t estimates the annual costs Of attempting
TO collect debts by law in this country al
two hundred millions of dollars, putting no
estimate on ''the vice, corruption, PERU
ries; strife, dlscord, and crime, embtlered
feelings, destruction of friendship and so>
clal feelings between man and man, and of
amily and love among families: poverty
and utter ruiz of both plaintiff and defen>
dan'," DC. For our own experience and
observation, we think that the estimate is
rather under than over the mark. The re-
port alludes to the practice among Quakers
and gamblers of considering all debts as
debts of honor, and periinently remarks
that "lransactions Of virtuous and useful
character should at least be placed on as
favorable footing as the gambling trans
actions Of the country"
We have heard one Of the Oldest, most
intelligent, and most prosperous merchants
in this city, say iha. he had never sued a
man since he had been in bushes, and we
have no question that those who have pur-
sued an opposite course would testify their
gains by restoring to law. The report al
luded to concludes in these words.
| '''Fhe increase Of productive industry
the saving TO the nation Of $500 100000
annnally-the misery, strife, dscord, pow
erty, and human suffering in every way
whlch would be avoided, the good, peace,
prosperity, and happiness, which would
result from this change, are considerations
which have induced your committee to dir.
ect me to report the bill herewith submit.
ted, and recommend its passage.
J. Il. MCAUGHAN.
The writer Of the money article in the
Times makes himself merry over this re-.
port. The subject had probably never
been presented TO his mind before, and
therefore it must have seemed strange 10
him, and we do not wonder tina, he thought
II The burlesque Of an American Punch
But we would bet trihe that he does no,
now think the proposition Of the Missippi
retormers so absurd as he did at first II
there were but one man in the world who
had conceived new truth, IT would be
sure to spread; he could moi keep il penl
up 10 his bosom, he would whisper il 10 an
other, and so il would spread like feuthefed
seeds which float over The world and ger
inmate where they find soil tosfes, unon
1t is only seventy years since Adam Smith
published his immortal York and the Bri-
fish House of Lords have already acknewl-
edged the ruth Of his theories; The philan-
;hropist Clalkson is yet alive, and slavery
has been abolished in the dominons of
Great Britain: il is but little more than
half century since Philippe Egall,e was
beheaded. and his son has been many
years the Constitutional King of the French
and if the money article writer Of he
Times is not an old man we have no doubt
i hat he will live 10 see bill introduced in
to Parliament similar to the one which he
sneers al III Mississippi. Great principles
sometimes terminate in the minds of The
people long before they are proclaimed in
legislature or newspapers, and we believe
that the. radical reform proposed in the
Mississippi legislature has been extensive
ly circulated in private circles, apG that a
very considerable part of the people are
anxious that it should be adopted in our
own State. The Tributaran Philosophers
declared themselves opposite to this great
measure awhile ago, but it must be expec-
ted that those who favor such a relic of
artificial barbarism as the law of usury,
would oppose any healthy measure for pro-
muing good will and prosperity among
mankind
The MEXICAN MINEs.-The annual
meetings of The Bolanos and Real del Mon
te Mining Companies were lately held in
London. The report of The Bolanos Com
pany steted that The hext profits on the II
months operations of the Company in
Mexico were ubont Sl40 900, about 95.