Weekly Trinity journal., 1859-03-26
BASIS OF CREDIT.

We have thought that in argument advocating
a stringent Attachment law the Democratic Stan
ddrd is not entirely conclusive. The learned ed
ior believes that if the creditor may not collect
10y application of severe law, persons with little
or no money will not be enabled to embark in
large business With certainty of being assisted
by law in collection-he argues--tbe city mer.
chant sells extensively to the mountain trades
man, who, in like manner protected, sells to the
consumer, and thus an active circle of trade is
kept up. We hope that Misrepresentation is not
made in producing the idea moi the language.
Now it is not advantageous to community that
an individual with no capital Of his own sh Lid
imperl the property of others by extensive ad-
venture. Prodigous trade on the basis of one
silver dollar has filled the courts with petition
ing bankrupts, and the dark ways Of despair, ruin
and crime with swiftly descending travellers
Besides, we do not think mountain traders are
credited in the principal mart on security Of at
tachment law when disposition exists to defraud
it is easy to make away with the goods, and pass
through legal process in which the creditor re-
covers nothing. Certainly mountain traders do
not credit in expectation of recovering by at
tachment a majority of their debtors have no
thing tangible-they may be ruined in an hour
by having their remaining goods seized for debt
but when they would attach property of their
own debtors the property is invisible. They cred
it on the basis of good faith, and when deceived
in estimate of character, cancel the debt rather
than add to their losses by expensive legal pro-
ceedure. SO far as they are concerned an attach
ment law may secure their own unmerited dis
tress, but cannot afford them any considerable
relief
Credit will always be given in the Mines and
required individuals without visible property
will receive food and rament at the discretion of
persons who have TO sell, and with hundred pa
gcs of vigorous law compelling payment, trade
would not be increased one dollar, recovery of
debt would be no more insured. We do not think
with the distinguished reasoner before mention.
ed that the abolition of all laws concerning debt
is Utopian in conception we think, rather thsf
IT follows in the progress of ages a little viii
ago law makers believed imprisonment for T.
same purpose essential in the economy of sta,
And that milder punishment for failure, the t.
tribution of the goods that remain from misb
tune is but relic Of the iron ages which ap
toned the punishment of debtors reserved Il
for felons. Our bomesteads and exemptions, ieft
all along the track Of advancing civilization, in
falibly augur the obliteraton of all statutes by
which misfortune is punishable We are taught
10 condemn the cruel and spoliating creditor and
to feel sympathy for him whom execution drives
from the shelter his youthful hands raised when
he was stronger than now we are sorry when an
Industrious neighbOrs fortunes break under the
auction hammer We interpose with security
when the baililf is at the door and after while
all these stern instruments of poor man torture
will be showed back into the trumpery corner of
the past where thumb-screws and iron crowns lie
rusting under the maledictions of humanity.