St. Charles City Republican intelligencer. [volume] (St. Charles City [Charles City], Iowa) 1857-1861, 1858-10-21
Collection Laws Of Iowa.

Perhaps no Western State has been
more misrepresented and made the
subject of needless and unjust WITH.
peration among interested Eastern
parties, in relation to the collection OF
debts, than the State of Iowa. The
financial storm was raging with all
its terrors over the land, a most gloo-
my prospect was before the people,
when in December last our legisla-
ture went into session. They were
Immediately besieged by petitions
from every direction for the relief of
those who were in danger of being
utterly ruined, because they could
not realize or their property, at any
price, though assets were far in ex-
cess of their liabilities. The country
had been suddenly drained Of its mo-
ney, there was no demand for pro-
duce, and the millions which had been
flowing in healthful circulation
throughout the West, were rushing
back to the reservoirs of the East,
there to remain idle and useless.
Under the then existing law, there
was no redemption of property sold
under u mortgage without the pow
err to secure driary, and no means of
relief, many an honest farmer who had
made his third, fourth and even fifth
payment on his farm, saw his proper
ty advertised, and the total loss be-
fore him of all his hard earned means,
because of his utter inability TO meet
the last note. Many such instances
could be cited.
Our Assembly came at once to the
| relief of these un~fortunates and en-
acted the following
IS l. Be it enacted by the General
Assembly of the State of Iowa, that
hereafter no mortgage of real estate
shall be forecloscd in any other man
ner than by civil action in the proper
court, Prorided, that nothing herein
| contained shall be construed to apply
to deeds of trust.
"s2. The provisions of chapter
one hundred and eighteen of the
Code, concerning foreclo sures of mort
cages by notice and sale shall be APP
plicable to mortgages of personal
property"
The report was circulated at the
East, that in the above act, deeds of
trust on which instrument loans are
principally made, were included, as it
was published abroad that it was i'm
possible any longer to collect money
thus invested in the State. 1t is time
this matter was set right with the
friends of the West, and we hope
they will take the earliest opportuni-
ty Of correcting all false Impressions
on this subject.
Twenty days only are required to
realize the amount of a debt under a
deed of trust, and we know of no
case where the money was not readi-
ly made from the security when thus
held. Loud complaints have been
heard with regard to the change in
our attachment laws. We published
the amendment as soon as enacted,
but such had been the rigor Of our
collection laws, that any changes SO
as to place the debtor in a fairer and
more Just position towards his credit
or, and to make our laws correspond
more with those of other States, was
received by Eastern men with great
manifestations of surprise and cha.
grin.
Formerly an attachment could issue
upon the refusal of the debtor to give
any security the creditor might de,
mand, though it stripped him Of bis
all ; and many instances there were,
during the utter s%tagnation in bust
ness, when it would require what a
man counted upon a few months pre-
vious, as a sufficient competency, to
meet the demand on which an attach
ment was sought. To avoid such a
sacrifice of property the change was
made and now the plaintiff must
make affidavit of fraud OH the part o!
the defendant before he will be enti-
tied to a writ in short, our statute is
very similar to, though more rigorous
than that of the of the older States.
The so called " stay law has been
and still is a great bug-bcar to those
Eastern parties who have had, or who
propose to have dealings with the
people of this state. According to
the statute, the first term of court af-
ter suit is brought on a claim is
made an appearance time, and thus
the defendant could not be required to
answer till the next term but our
courts have ruled that he shall be re-
quired to answer and make affidavit
that he does SO in good faith, and not
for the purpose of delay-or a default
will be allowed. Thus, as in these
Judicial districts where there is sufi-
Gent business, there are three or four
terms each year, if there be no good
defence, Judgment can be obtained on
a demand at the first term of court,
while if the cause go to trial, not
more than six months will elapse be-
fore judgment. Then, if the defend
ant avail himself Of the stay on exc
c%ution, he must give good security for
the money.
Thus have We sketched in outline
the time and process required to Sc
cure payment of claims in this State,
and we venture to assert that in no
other state in the Union are the facii.
tiles for collection equal to those now
embodied in u statutes.
We have been annoyed and cha.
grined at the unjust imputations cast
by mel who in ignorance of the facts
will not avail themselves of the OPP
nnrtnnitv for KNOWING tho truth upop