Mountain Democrat. [volume] (Placerville, El Dorado Co., Cal.) 1854-1860, 1860-01-28

plete failure, in fact worse than no Law upon
the subject The loudest-mouthed denouncers
Of the law Of 1851, had hardly accomplished
its repeal before they discovered that they
had parted with the substance and retained
only the shadow OF the remedy. All parties,
buyers and seller, creditors and debtors, alike
condemn the amendment Of 1858, and pro.
nounce the same wholly inadequate to accom-.
plish the end desired or sought by an Attach
ment Law. The amendment Of 1858 allows
an attachment only In cases Of fraud, and is
never available for the reason that fraud Is
seldom detected until after its contamination,
when the remedy, in most cases, is useless
Better have no law at all than an inefficient
one-H law which is powcrleSs as to all bcnc.
! fetal results. The least that can be said Of
the law of 1858 is, that il is n dead letter and
does no harm il it does no good. But this is
its complete condemnation, since an effective
Attachment Law is needed in order TO sustain
healthy credit system, without which trade
and all departments Of business must necesSn.
economists and book philosophers to write
and talk nonsense about the evils Of the credit
system. They do no harm If they do no good
by their senscless twaddle-and are, in this
respect, like the Attachment Law of 1855
The mercantile world never has been, and
never will be able to get along without the cred
it system. II there are evils incident to the
credit system these economists and philoSo.
piers would do we'll to spend some Of their
useless time in endcavoring to remedy those
evils instead Of being content with pointing
out and dsnouncing them.
The mercantile world must and will have
credit system, and il there are evils incident
to It, those evils should be guarded against,
as far as may be, by wise and provident legis.
lation. And this can be had when legislators
learn to make laws for the world as Il Z, ard
not as, in their Judgment, II ought to be.
The only evil witch can result from a credit
system is ovcr.buyins-that is, buying more
than one has a reasonable prospect Of being
able to pay for when pay day comes. This
disposition to ovcrtrade can be checked in
no way better than by a wholesome Attach.
ment Law. Give the creditor the most sure
and speedy means Of enforcing the collection
Of his debts, and you at the same time provide
a rca''y and sufficient check upon the buying
debtor, who, knowing the power Of his cred.
itor, will confine his operations within the
bounds of moderate and reasonable cxpccta.
ton, and find himself always ready and able
to pay before the attachment comes Under
an efficient Attachment Law the seller may
sell with confidence, knowing that he has a
speedy and ready means Of enforcing payment
and the existence Of such means enables the
buyer to purchase when otherwise he could
not, thus imparting to trade healthy and
vigorous action. We might elaborate thi,
subject but we deem it unnecessary, since the
want Of an efficient Attachment Law is moi
questioned by the business sentiment Of thu
country. The only question is as to which o
several is the better law. And upon this ques
ton We undertake to say thatthe law proposed
by Mr.. Wclty is the only one which can be dc
vised with any assurance Of satisfactory prac
tical results. The pro rata law Of the Sacra
nento Union is an absurdiiy and humbug
"A law which can do no good and may DE-
much harm. Under it's operation the debtor
ouId be forced into insolvency, noItns rolens
by the first attachment issued against him
and left without dollar for fresh start
while the visilant creditor would be compelled
to share the benefits Of his prOvident care anG
vigilance with others
Upon the whole, We are decidedly in favol
of those features of Mr. Welty's bill which W,
have approvinsly noticed, and earnestly hope
) the same may become law.
Conference.-The insidiouS scheme tc
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