Nebraska advertiser., 1860-02-09
Speech Of Hon. J. P. Baker OF he.
maha Go. on the Stay BIZ.

Mr.. SPEAKER When this bill was
under consideration, on Friday last, and
its friends proclaimed thas il was intend-
ed for the benefit and relief Of embarras.
sed debtors, who, under the present ex-
isting scarcity Of money, were unable 90
discharge their Indebtedness without sa-
eri6ce and ruin, felt disposed 10 contri-
butte my feeble efforts to accomplish 90
humane an object.
Believing that the best interests Of the
Territory would be subseryed by protect.
ing, so far as possible, the farms and
homes Of its settlers, became confound-
ed with the unjust and inhuman features
Of this bill, as, section after section, Il
revealed its true tendencies; and now,
after fully considering its provisions, i
have come TO the conclusion that. what
ever might have been the intentions Of
the trainers Of the bill as relief mea-
sure, It's practical effects and results
would be to reIieUe the poor embarrassed
debtor Of his properly without a consider
alton, and, IN many instances, without re-
lIevIng him Of bis Indebtedness. rr
This bill, as amended and perfected by
this House, proposes twelve months stay
of execution after judgment shall have
been obtained, provided the debtor will,
within twenty days, give ample security
for the payment Of the debt, interest and
costs; but repeals the present appearance
term, and also the appraisement and va.
luation Of the property, and the provision
that It shall not sell for less than two
thirds of the appraisement.
Now, sir, if this bill should become a
law, | honestly believe that its practical
workings would be most disastrous 70 the
unfortunate debtor. For instance. if a
man owninga farm worth 81 900, if sued
under our present laws, would by virtue
OF the appearance term, have six months
stay without further security; and after
Judgment IS obtained and his property has
to be sold to make the money, the ap-
praisement law requires that his proper.
ty shall not be sold for less than two thirds
Of Its value, which would be SGe7; his
farm would either not be sold, or, If sold,
his debt would be paid and he would re-
celye the surplus, some $500, with which
to begin again. But should this Bill be-
come law, and the $500 to be collected
according to its provisions, ibdgmen,
would Be obtained at the first term Of
court after suit is commenced, and with
in twenty days he appears before the
clerk OF the court, claiming the stay Of
execution. Although be may show salts
factorily that his farm is worth $1,000,
and IS unincumbered, he may yet be re-
CURED to give additional security, by rea-
son Of the possibility Of the farm not
bringing $500 at forced sale. Owin9to
the extreme scarcity Of money, he may
not be able to give additional security,
and an execution is issued. If the sheriff
fails TO sell it for what he shall consider
two thirds Of Its value, within foTiydav
ne shall then proceed to sell II for what
ever sum II will bring, and it may be bid
of for 500, or even less, and he will
thus be stripped Of bis property, aud his
debt remain unpaid, a judgment of. $500
still hanging over him to relieve him
again and again, shoald he be able by
his subsequent efforts to accumulate any.
On the other hand, should be. be able 70
procure the required security, he NAV nos
only ruin himself, but his friend also.
Sir, | hope this bill may not pass Ia its
present form, it is unjust in its provisions
and destructive Of the best Interests Of
the Territory. / appeal to this House to
recommit the bill, that It may be 50 am4
ended as to meet the just demands Of ths
oppressed debtor. F