Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1856-12-30
Apmenuur0 2Str0intam.



We hsve noticed, with regret. article in tbs
Richmond Wing of Wednesday the oath inst
entitled Joint Stock in the Institution Of Slave.
ry;" aud consisting of an extract from the Neie
Orf,ass Creole. with editorial comments Of the
Wing.
The thing which regret is the evident IA
vor with which the Uhig rega, ds the suggestions
of the Creole: for. while the former expressly
avoids wholly committing itself in favor" Of
the latter's We've, it commepds them to the at
tenfion of its readers with the earnestness Of ap
probation.
The proposal of the Creole is a modification
Of that made By Gov. Adams OF 5. c. in his re-
cent message, viz: to exempt BY law certain
amount q savs property, in every mans favor.
from liability for his debts.
Gov. Adams recommends that negro be 90
exempted and this has at least the merit of dis.
tinctness. The Creole proposes that the subject
ofexemption shall be +" family servants and their
progeny"
This scheme the Wig commends 10 "the
calm onsideration of its readers" The argu-
ments. or rather heads of argument, to be gath
cred from both the extract given and the editorial
comment are briefly these: st, Such Law
would Induce every man in the Sos,h 10 become
the owner Of that which would yield all the ben
efts without being subject to the liabilities of
property. Cd. II would di-arm Northern de
Chalmers. by depriving them Of the cry Of " Slave
Ohstrchv;' and we may add. by meeting, in a
degree. the often urged accusation of cruel sepa
ratious By judicial sales. Sd. |; would benefit
the African race by brin! ing a greater number
-, IL
Now we shall not undertake to dispute that
such would be the tendency of the proposed
measures which are intended TO be protective.
Ho~ far the result contemplated Of making eve
~ man a slsveholder. would be accomplished, is
certainly deba,eable ground but which we d, not
propose now 10 enter. This suggestion. howev
or, is worth being horne in mind. that srpedienfs
are rarely successful, and as for silcnciug. in
this way, the fanaticnl camors Of aboliiioni-ts
not only can that never be accomplished, but
the bare proposal of them is positively injurious.
Are 50 insecure In our present moral position,
as Shareholders. that shall srek ta evade tho
denuncations lvellrd against "a J Again. the
first >an implies that the non Shareholders Of
the South reqire new bond TO keep them true
to Southern interests. We believe that MS n
GLASS there is none truer. Bat, let us glance at
some of the reasons 10 be CON sidered agsns, the
proposed form of bounty or government protec-
ton to particular kind If property. We say
nothing of the policy of so gigantic and absolute
a soheme Of protection.
1t il perfectly agrarian in its radealism. The
average value of sorviceable negroes tthe only
descriptio which would be wanted by those who
do not already own slaves1 is at present certain
ly not less than 5000 to s7O0-whch is oonsd
erably NOR. than the average estate of each
white person upon a general equal division of all
property II is certainly as much very large
GLASS are ever will be worth. 1t is evident
without argument, that il the many who now own
less than that amount shall, under thu influence
OF such a law, acquire it, that acqu sition must
be bya corresponding loss to somebody. Iii.
easy to that the losers would be creditors
We hold that the inevitable tendency Of any mr.
rangsnen,. by which men have the use ana ben
eft Of property, which is not in some shape liable
for their debts Is to undermine their sense of tho
obligation OF debt Daily experience shows this
to be trle in practice; aud human nature. ever
more weak than wicked rather ready to yield to
abeokonng temptation than to sin without cause.
would cease to be human nature were it other.
wise. The juncture of mans affairs ut which
he would seek most eagerly to avail himself Of
suoh an exemption would be just tina, at which
he could not do so without defrauding his cred
tors. The industry and economy of mutitudes
would be stimulated by the offered opportunity
to permit their debts TO 60 unpaid while they
boarded with the prospect of profitable invest.
ment which would be Sdfe indeed. 1t would be-
difficult to devise means more certain to under.
mine public and private morals by Offering the
strongest temptations TO fraud.
But. to look at the scheme in another point of
iew-"Credt" says the Creole, rs the result
of confidence in the honour OF the individual or.
the result of knoweige on the part Of the ere
ditor that he enforce payment by the attach
ment Of unincumbered property" OF these two
elements. no argument is needed 10 show that
the fl st is rery small and the latter very great.
In truth we may with great propriety sny, that
what is popularity known as mans "responsi-
bility" is the foundation Of all credit, with very
occasional exceptions. In the absence ofpreoise
data we may safely assume that there are in the
South. two shareholders to one STAKEHOLDER.
or700, 900 adult males who do no, own slaves, aud
whom ii is proposed TO indace To do Suppose
thst each of these acquires only, of the mod
crate average value. all things considered, of
$500. Suppose that b IT one slave is exempted
at all. in favor Of those who already own many.
and that these are, as is stated between 300 900
and 100000 in number,say 100000. The whole
number of slaves exempted would be one million
and fifty thousand, worth now FIVE hundred aud
twenty five millions of dollars. Such would be
the amount of capital. OF property which is the