The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-02-14
Stop and Relief Acts.
rC,ruB KpIrOR CP TIKI HERALD.

read your article in the paper Of the 2sd ut, entitled
-he Proposed Stay Law in the State Senate aud whle
cdaliy in the general sentiment Of TIE article
yet most respectfully dissent from OF the PROPOSE
tons therein contained You say eve do object TO his
(dr. Senator EoDon,) attempting to pass ortbs alb
surety as possible thing, even If were desirable"
relief act s1ch as the Senator proposes, 10
absurdity. A act precisely similar passed just
twenty years ago. and dirsraced tho s,a,ue book
embarrassed real property gave
tious litigation, and drove nearly all Of the capital OF
the State for year. The Legislature lined
with petitions for It's repeal, AID II accordingly
pealed year AFTER Ms passage.
Again you say, "Mr. Noxon's ran can have no eHec.
upon contracts already nto or such may be
entered into before his proposed law goes effect" 6c
The BIZ Is entirely retrospective, providing that redemp-
tsn may be made upon sale under mortgage "hereto
fore executed TO-, &c.
The ocnstituooaly Of the law Of 1887 generally
guessed in by the courts for sa. TIE law did
not impair the obligation OF the CONTRACT but o1ly the
remedy FOR its enforcement.
see also thA, senaor Noxon proposes removing tbs
few barriers that thai swindag law entitled
"The Hope steaa Exemption Ac." and 10 exempt tho
homesteadof aheusehoder TO tseexient OF from
sale under execution In all cases.
Such laws thsse proposed bv the Hon Genato, doubt
lees grow OF the distress ding tia pnuio
cia matters but their general policy Dad aud destruc
tive TO the beat interests OF socrty Chncelor Kent In
his Commentaries vol T. p. 465, says Tess laws (rs
errng to stop, stay, and exemption acts drced
rency ana the depression OF b. prices produc
ing general istress-but they are vcsy bad aad are
volaons of the constitution the Usiesd states The
like national distress caused tts goye-a-eu. of ancient
Rome 10 make land and cattle egL tender for the pay
ment o. ncbts n. certain fixed value"
Judge Bronson says, Is Hills Rep. 4G9l AL laws which
either impair the obligation Of contracts deprive the
crecor OF proFapt and efficient oreichng the pro-
perty OF the debtor OF ismorslzisy ssoy and
stand opposed 20 the best interests OF society Sh Ia
may scrns times have Their orig Tapaisy r unor
tunae debtors aSd feelog OF kpdness the peo but
will, think be found that tsey commonly spring
from desire 70 escape the nst punishment 81 leness
extravnsart living and ganbsg speculation 10 those
who I've in and sometimes In splea5or thAs usually
reap tie fruit Of such laws and not the hube p,r
ton u the community who soi for tho breed they eat
laws which are wholly prospective a,their operation
however, mpolkic they may be- "a, oDd,sred, but
when they have retroactive effect an3 either aulfy
stiDg contracts take awGJ the remedy OF the creditor
they jsstly gbargesbe win o. those which
whea committed without tho ssction Of legal oa4ctnents
never receive q milder ZANE than frsuo, aud are
soms.sues dsEOmiDaied theft and robeery. With re
gard 10 the sct relative - the payment % expenses
for local Improvements in Williamsburg, GsG there IL
manifest oihereDce betsesn II aud stay avs such "a
have been Considering The parties contracting with the
CITY OF Williamsburg - cake improvements, did with
the expectation of receiving their ray the money
collected by assessment spon the benefited by
such Improvements and did peri. work upon
the fah credit Of the cy TIE being ile
gaily mroasd and sni being impossible under snc
q proper that the tractors should wait until their
asey can be solicited by legal AID valid assessment
cad no. hachss the consolidated cs with suits judg
nepts, aad subject II to great pccGn.Ny loss
3RoosaAs, Jan. %, lCss JU5rTIA