Wisconsin herald. [volume] (Lancaster, Wis.) 1846-1849, 1849-03-17
Aho,ishing Collection Laws.

visions. We omit the first four sections of
the bill and commence with the fifth section.
the only one that touches bottom:
SEcrIoN 5. No suit in law shall be en-
tered or brought in any Court of this State
or before any Judge or other officer of the |
State for the recovery Of any debt or liabil |
ity founded on or arising out of any con-
tract or obligation either expressed or i'm
piled made aiterthe first day Of January,
A. ID. 1854.
"Src. 6. This act shall not apply to the
collection of Taxes or Revenue, nor to cases
of trover and conversion, nor to suits for
trespass, or fines, nor to any other than civil
suits for the recovery of debts.
SEC. T. This act shall be submitted to
the electors Of the State at the general cleo
ton to be holden on the Tuesday succeeding
the first Monday Of November, in the year
l849, for their approval or rejection, and if
approved by majority of the votes cast on
that subject at that election in accordance
with the following sections OF this act, shall
upon the proclamation of the Governor, as
herein provided, become ii law.
"SEc. 8. Fhe inspectors OF elections IN
the several wards, towns or precincts OF the
State, shall on the day Of the next general
election, keep separate box, and receive
and deposit, count, certify and return the
vote for and against this act in the same
manner rs the votes for State officers are
required to be canyassed and returned. EV-
cry elector shall be entitled To vote for or
against this act by presenting a ballot on
" hich shall be written or printed, or partly
written and partly printed, the following
words: Fof collecting Laws or the words
Against collecting Laws : which ballots
shall be received and disposed of as afore
said, and the clerks Of the several boards Of
county commissioners shall make ont and
transmit statement Of the vote aforesaid
N the same manner aud time as the vote for
State officers are required to be canvassed
and returned 10 the State officers, but the
same shall be forwarded on separate sheet
and properly endorsed.
" SEc 9. The Governor and State board
of Commissioners shall canvass and deter
mine the vote aforesaid on the day liked for
caayassing the votes for State officers re-
cord Of which shall be properly made in the
office of the secretary Of State a prociama-
ton of the result shall be forthwith issued
by the Governor and il there be majority
of the votes returned against the collecting
laws, then this act shall be and remain in
full force and effect from and after the date
of the Governors proclamation aforesaid,
but il majority Of the votes returned be
for the Collecting Laws, then this act shall
not become a Law"
We go in for this bill, most distinctly
Garry it through and vote for it and it will
use up the two thirds of the litigation in our
State. Debts will be fewer, but they will
he far better. Credits being voluntary, so
ought payments to he. inducements TO
urge people to get into debt, will no longer
exist. Men viii get trusted for their probi-
", and not for their property. Promptness
and punctuality will be att premium. and
will he seduIously cultivated. The prices
of goods will be diminished twenty-five per
cent. when every man pays for all the goods
he buys. Debtors will be relieved from
the exaclions and impositions Of creditors.
indiscreet and improyident men; who are
now eternally in debt, win be forced to live
within their income, as every man ought TO
live. Every tub will have 70 stand on its
own bottom. The man who dies will not
leave his estate entangled with the affairs
and estates of five hundred other folks
Under the present system of credits, there
is virtually an intermingling of everybody's
property wiih-everybody's else, an inextri-
cable sauglion of debts, credits, chooses in
action, direct and collateral liabilities and
claims for the liabilities of Others, so that
men live without knowing what is their
own, and when they die their entang,ed af-
fairs are thrown into the Probate hopper
aud ground down to nothing. What Is that
weight which weighs down individuals,
communities and SIatesi Debt. II IS the
saddle which Capital places upon the back
Of Industry. What corroSion is it that
gnaws INTO the vts!s of Labor? II is inter
est. What incubus is that which weighs
down Production with bills of cost and at
torney's fees, and the services of jurors,
witnesses, sheriff-, judges, justices of the
peace, notaries public, courts of Probates
Collection Laws. In England, what has
placed the heel of Capital on the neck Of
Lahori Collection laws. In our own coun-
try, what has called into existence thous-
and banks, and imposed upon the people the
necessity Of laying interest upon four or
FIVE times the amount Of capital really be-
longing 10 these tanks' The collection
laws for these laws encourage credits and
thus create an Unsuitable demand for bank
accommodations 70 meet pressing liabilities,
and at the same time, place II in the pow
er of these banks to extOrt in specie full
payment of the principal and interest due