Daily Nashville patriot. [volume] (Nashville, Tenn.) 1860-1862, 1860-08-20
"a Stop Law"

Our people are discussing the proprloty
OF petitioning Gov. Harris to convene the
Legislature for the purpose of passing law
that would relieve the country from its pres
ent deplorable condition. If the Legislature
could Cousttutionally pass law that would
suspend the collection OF all debts until TIE
farmers could make another crop, 1t would
be gOdsend to the country. The farmers
in this county, Notwithstanding that they
have used more than usual skill and industry
in the cultivation of their farms, find them
selves in debt and almost without the neces-
saries of life; and if something Is not done TO
relieve them, an immense quantity OF proper
ty will be sacrificed at mere nominal price.
Such is the embarrassment here that horse.
which would have sold twelve months ago
for one hundred and fifty dollars, could not
be sold to-day for seventy-fYe-"
The above, from the Lebanon Dtmocraf. Of
Friday, is an Indication of the pressure which
is likely to follow the shOrincss OF crops in
this section. While some localities have been
favored with rains. others have experienced
a severe and protractcd drouth, which must
materially cut down the provision supplies
of the State. The wheat crop was already
very light on account OF the hard frosts Of
last winter, and now the extraordinary heat
and dryness of the summer have greatly in
jured the grass and corn crops. We cannot
yet estimate accurately the deficit in these
crops; but enough IS known to show that it
Will be very great-sOme putting it down al
one half, others at one quarter, two thirds.
&c. Remembering that these crops are the
basis of our hog and stock production, it will
usually scarce. Our chief sources Of revenue
are thus snatched from us and we are left
with but limited means, TO say the most, to
pay our debts. The pressure is already be
ginning TO he seriously felt. The lists of
sheriffs' sales being advertised in the newE-
papers. and the well-known difficulties in Oh
tanning loans from private capitalists as well
as Bank accommodations. clearly foreshadOw
the coming of "hard times In several
counties through which We recently bad &C
casiOn TO pass in this division of the State, we
discovered disposition among the farmers
to extend TO each other the greatest indul-
gence in their settlements, and to make COM
mon cause against distress by economical
living, and dividing the loaf where there is a
loaf to spare. This feeling is highly crcdita-
BILE to the farming community
But the above from the Lebanon Deaocrat
breaches policy which should arrest attcn-
ton, and challenge the most serious consid-
Grafton. For the present, at least. we cannot
see the necessity of calling an extra session
of tie Legislature. certainly not for aftording
relief to the people by t'stOp law, y suspend
ing the collection of debts by legal process.
Such a step might prove grateful to the feel
ings and operate greatly to the convenience
of the producers whose crops have measure
bly failed. II would relieve them of vexatiou
and. in some cases. of heavy pecuniary sacri-
fee. But there are other interests intimately
connected with those of the planter, which
which would suffer in proportion to the relief
afforded him. The entire mercantile and
trading class, who owe debts, and especially
foreign debts. being unable to make collcc-
tions. would become seriously involved. aud
be subjected 10 losses quite as disastrous as
any which could bcfall the farmer. While
extending relief to one, justice and sound pol
icy wOuld require that no injury should be
inflicted upon another. Nothing but the
most extreme and unavoidable necessity
would justify Legislative interference in the
business Of a State, and should never be
thought of OF exercised except when the
most palpable necessity requires it. If our
people have contracted debts on the antici-
patton of abundant crops, and these anticipa-
tions have failed of realization, it Is our
misfortune, but does not exOnerate us from
complying with our engagements. All classes
of Iaborers in a well-Organized and highly
civilized society, such ours, arc mutually
dependent upon each other in their business
relations, aud no class can be seriously in
jured without affecting the rest - while
promptness and punctuality is the best for
all. If we have overloaded, if we have con-
traeted debts which we are unable to pay in
the ordinary way, we must fall back on our
fixed capital and make the best of it we may.
Not only is individual credit at stake, but
State credit also.
Our old Banks, strong in capital aud credit,
and in the confidence OF the people, as they
unauestioBably are, could, If disposed and
pernitted, do much to alleviate the iTnpend-
ing distress; but we believe they are doing
but little. and we have no reason to expect
them to do great deal Their circulation,
IL il understood, is greatly reduced, and the
line of discounts unusually narrow. This
may be Justly trseeable to the senseless out
ery that prevailed against them some time
since, and to their agreed regulations OF short