The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1850-05-21
Homestead Exemption.

] AAOhANopSHt SAAybAOhs
A Homestead Exemption law has latel,
been enacted by the New York Legislature,
and is now a law of that State. Its features
J and provisions are chiefly the following:
The value of the homestead is not 10 OK
coed one thousand dollars, and party to be
benefited must be a householder, and have
family, and must reside upon the premises
The exemption is 10 continue 10 the widow
and family after the death of the exempt
Notice must be given that the homestead
is intended to be held as an exempted one,
and full description of it, which is TO be re-
corded in Il book to be called the "lIomestcad
Exemption Book" otherwise the exemption
law will not protect it.
The exemption law furnishes no protec-
ton against debts already contracted, and is
in no manner retrospective.
Where ar exempted estate is worth more
than n thousand dollars, die residue can be
sold for debt or if it cannot be divided, it
may be sold, and after paying one thousand
dollars TO the exempted owner, the residue
goes TO the creditor.
II, upon exposing homestead to public
sale not more than a thousand dollars are
bid then the creditor is dshed, and the sher-
III returns no property found
Ihis law has many friends, but it las not
met with anything like universal approba-
ton Some Of the New York journals have
been prcit, severe upon it, and denounce it
as premium held out to idencss and dis
honesty. They are a little hdsy perhaps,
in their denunciations, but still it has 20 us
somewhat the appearance Of hazardous
experiment. The value Of the property 10
be exempted is pretty large. and the law is
AN innovation upon the principle not before
invaded to such an extent, we believe, oi-
iher in ancient OF modern times, which sub
jects the property Of debtors o the payment
of their debts In the course of its opera.
ton many very hard cases will occur without
, doubt, such n ths--a very poor man, whose
whole capital may be he two hands which
, nature gave him. may labor for an exempted
householder, and be refused payment. and
will be therefore without remedy and his
wife and children, " his family" who en-
/ JOY no exemption, may want brcad. whilst
4 the family Of the protected swindlcr may
be in the enjoyment Of every comfort.
, Such cases will occur, or else that must taxi
. place which will be extremely inconvcnent
and detrimental to society at argc-all cred
it must be denied to exempted persons; for
l. if it is not, there will he cases of most vii
= famous fraud and swndlng.
d These remarks do not apply, Of course. to
C cases where the person holding an exempted
p estate may own property enough over and
above, to secure the payment Of all his debts
but to cases where that estate may be all, oil
{ nearly ALL that the debtor may own.
e There is no branch Of legislation, we be
+ licve with respect to which more caprice
l. more absurdity, more cruelty, and more in
e justice have been practised, han with respect
to debtor and creditor. Ancicntly, in al
countries. with scarce an exception, I'll,
debtor was regarded and treated by the law
not only as a criminal but rs a most afro
cious one In ancient Rome, where the,
It went, above all things pro pai,ia and pr
iUeuaie, the debtor, however blameless h
ie might lie, might be cnslayed, sold into slave
in ry, incarcerated at The pleasure Of the cred
rs itor, and even put TO death. In the cours
> of many centuries this terocious and blood
:, code has found some init gaion; but it cam
80 very slowly, and has not yet come in man
IL countries for yet, in many calling themselvt
III enlightened and Christian, debtor, thcug
the victim of overwhelming misfortune, ma
yet be deprived OF his liberty. whether i
has any property or rot and although i
cannot legally be put to death. by any con
ne pendious method such as shooting, or hang
H. ing, or poisoning, yet lac may be as eflectl
a ANY hlelltNtl bls NuDurh hNA as sNhAN -
being consigned, at the instance of a credi
- or, to pestlential dungeon. where he ma
be left 10 pine and perish, without air {
is liaht, or even wholesome fool. In som
lis Christian countries such is still the law bl
ly in some, where the irrational and oppressi,
y. laws against debtors naturally become Il
re-. subject of reaction, the sympathics OF 50
IN ciety have all been turned against the ere,
10. ilor and in favor o. the debtor, the form,
al in his turn becoming he suffering party
Ike and we are rot by any means sure that
ht- some cases philanthropy may not have ru
re ltllc ahead of reason and Justice, rs IN Il
er. case Of this New York Homestead La'
his which will, in less than two years, We thin
AT be either amended or repealed; for with
he that time experience will have demonstrate
its defects, the greatest OF which is the pr
.e. lection it extends to one portion of soce
ed the property holders. and the withholdil
nd Of il from another class--the laborng POI
he who will, in many cases labor without ,
ms Enumeration for those fa,ortes Of legisati,
ed bencfcencc. 1t may be said that no ma
ed will be compelled to labor for those who
as not pay promptly. This is an old argumel
c and is easily answered. Those who are pc,
nv ard must labor, must sometimes be contc
ier to give credit, and to take promises, OF ell
IA 90 unemployed. 1t will he said also, tn
,rs The exemption of the homestead is for Il
nIs benefit OF the owners wife aud childre
NV This we would meet by saying that the po
hc man labors for his wife and children. M
en- that 10 deprive him Of the means of compc
,s- ing his mplover to pay when Astounding
TX meats, is TO deprive lis children OF brea
Of Ii the law provided that the exempted pro
fol criy should be liable for debts in cases whe
he The creditor was Il poorer man than the del
re- or, this would be an Improvements and won
Is reconcile many to it, who. as it now stand
ms never can be reconciled. among whom y
M would be, were we citizens Of the State
me New York-the magnanimity and beucy
I'M lent intentions of whose legislation IN II
his behalf we can applaud, but must, at 4
On same time, doubt the eNpediency Of t
.as Homestead Exemption Law. as it now stan
he on tie statute book.-DdHy GioJe.
les
leI For the Middlebury Register