Sioux City register. [volume] (Sioux City, Iowa) 1858-1871, 1858-09-16

gEET Cs1ssssss Lsvs - Ie~a.
Peahass - Wssssrs ssase bas bssa more
niasspzssssssd ssd sads he subject q
pse1sess and unjust vituperasios sssag
isaerssted Eastern passisa, d relssios 70
~ collection Of dsbts, than he StsAe q
Is~a- The financial stpsn vas raging
~igA oil it, tsrrors over The lssd, : nos
glsosy prospect ~as before ths people,
wbes in December Inst our Legislature
went into session. They we're immediate.
y besieged BY petitions from every dirsc-
tios for the relief Of those who we're in
dASger Of being utterly ruined, bec.use
DEF could not realize on their property q
cog price, though their assets we're far in
sxeess Of their Liabilities. The country
- bsss suddenly dssised II is msney
the.s ~ no demand for produce. and the
nill;oss Dist bsd bees Slowing il hsAlth-
I'll sisesIaaios throsgbost he vsst, we're
rsssisg bsek 70 Tie reservoirs II de EAst
tbees - rsnais idle and useless.
Us1ss shs sbss sxissisg lsv. there vss
no ssas.ptios Of property sold under .
nosssss. withoss tbe power to secure dri.
ssy, ssd % means Of relief, many IN hon.
ese aenss wbo had aade his third, fourth,
Asd svss Gfh p&y~sst on bis farm. 50
Nh psoPsssy advertised, and he total los
bsfsss hin o. Ill his hard earned nesns,
heessse Of bis utter inability 70 meet The
last note. Many such instances could be
cited. Our Assembly came u once to tie
relief sftbsse unlostunates and enscted the
following: Z !. Be Il e. ,etsd BY tie Gen
esal Asssnbly Of tie State Of Iova. that
hssesllss no mortgage II zeal estate shall
Pc forec,ossd il any other manner tban BY
eivl actios 10 ~ proper cosrs, provided,
fbat sothisg herein ooatsioed shall b con
strsed 70 apply 70 deeds eftrust. a.. The
provisions Of chapter one hundred ssd
siGhtees Of the Code, coscerning forecIo-
ssre Of mortgages by notice and sale shall
be applicable to mortgages Of personal
property" The report was circulated st
the East, that 10 the above act, Deeds Of
Trust o. shich isStssmest losos ere psin-
cirATly made, we're included, - il vas pub
lished sbsoad shss 4 wss ispossible any
longer 70 collect money thus invested in
this STATE Il Is time this matter was ct
right With the friends Of the West, and ne
hope they vii take the earliest opportuni-
~ a. eosrecsiag Ill false impressions On
this subject
Twenty days only are required to real
ize the amount ofs debt under . deed Of
trust ssd Ne know Of no case where the
oooey was not readily made from the &C.
curity wbes thus held. And further, We
ha.e yet 70 80 tie nan Who repadiaaed
interest, Or awaited himself of the letter usu-
~ ls~. Load complaints have also been
beard, With regard 10 he chaose 10 car At
tscAosst A0a We psblished the amend
ment - soon - enacted, but such bad
been the rigor Of our coi'ecsioo laws, that
any change 50 - to plsce the debtor in
iairer and jsster position towards his cred
itor, and to make our laws correspond
more With The laws Of other States, was re.
ceivsd BY Eastern men with great mani
fesations Of surprise and chagrin.
Formerly IN attachment could issue up
on the refusal of the debtor TO give any
seesrity the creditor might demand, though
it stripped him ofbis all; and many instan-
ces there we're during the utter stagnation
in business, when il would require wha. =
man eosot 4 upon few months previous,
- Sufficient competency, to meet the de.
mand on which an attachment Was sought.
To avoid such sacrifice Of property the
change Was made, and nov the plaintiff
most make affidavit Of fraud OF the part
Of The defendant before he will be entitled
to his wit; in short, our statute Is very
similar to though more rigorous than that
Of tbe older States.
The so-calIed Stay Lav" has been and
still i . great bug-bear to- those Eastern
parties Who have had or who propose 70
have dealioss with the people Of this State.
According 70 the Statute, the FIRST term
Of court after suit il brought "a . claim Is
asde IN appearsece time, and thus the de
fendant could not be required 70 answer till
the next term; but our courts have ruled
that be shall be required 70 answer and
nske slidavit thst Be does 90 10 good faith.
asd DOT fos tie purpose Of delay; OF . De-
faux viii be allowed. Thus, - in those
jsdicial districts where there Is sufficient
bssissss, there ase fosr terms each year,
il there be no good dsSeace, judgmeet can
b Obtained % demand u The FIRST term
q eosrt, Wills II the easse 90 to trial, moi
oese shas six Dosths win ehpss befors
judgnsnt Then, If the defssdant avail
hisssk of he stay on execution, be must
give epel ssesriE r. ~ poaey.
Thss have " skstched in outline the
tine asd process rsqsissd 70 seesre pay
nssl Of elains il this Slats, aad ve ven-
tsre 70 assset tit i no other State IN The