New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-11-25
Nsh @rleans Bully Grestent.

MONDAY MORNING, NOVEMBER as, 1861


Concurring in the request Of several friends, and
believing the subject to be Of great Importance,
we have concluded to publish the subioined very
able and luminous opinion OF Ex-Attorney- General
John D. Freeman, of Mississippi, contained in Q
letter to the Hon. F. l.. Claiborne, Of Pointe
Coupe6, in which the staylaw question in its legal,
constitutional and equitable relations, is most ad.
mirably discussed The learned writer throws
much light on the subject. Indeed, morally and
legally speaking, his arguments are impregnable; !;
and although utterly opposed to the sweeping Mis-
sisspp law, which deprives the creditor OF every
means of redress and allows the debtor to swindle
at pleasure, whenever 80 disposed, he suggests
certain notifications in regard to Importance
terms and forthcoming bond laws, that he init
mates could belegally made, which would extend
all the relief honest debtors would ask for, while
creditors could 60 on and establish an inaienable
claim on property, even il sale under execution
should be postponed a considerable length of Time.
Not being lawyers, we do not claim to be entire
ly capable of discussing this matter in its strictly
legal bearings. This, we have not attempted, nor
is it necessary that we should, the equities in.
yolyed are Of ten-fold more moment than profes
eonal techncalties all the lore that is supposed
to be bound in calf on the shelves Of the best
library in the country. We might strain legal and
constitutional points TO certain extent, to nme-
lorate the condition Of the debtor during the pen.
dency of these hard times, but never can con.
sent to the sweeping away of every legal, consti-
tational and equitable barrier, which now protects
the creditor from spoation and ruin. Pass the
Mississippi law, and keep it in force two years. and
the Banks of New Orleans, now impregnable
Gibralters of financial solvency, will become as
iusolvent as the Brandon Bank or any " wildcat"
institution in the Northwestern States Why
Because few, comparatively speaking, will attempt
to meet their oblgations-such we understand,
has been the invariabie rule In Mississippi,
not even the rights Of widows and orphans
forming an exception, on account OF the passage
of the statute in controversy-and, the debtors
having full power to dispose of their property,
the Legislature having not only prevented the
creditor from collecting his just dues but pro-
hbited him from establishing the legal lien
os a judgment which would make hin claim good
after the wsr-the chances are to use the language
c. Mr.. Freeman, that when peace resumes her
avay, the debtors Of the State will become rich
ald the creditors will be paupers in the land"
And, as with public institutions, so with landlords
and tenants-so with those who have hired their
negroes and live upon the income thus deriyed-so
with those who have rented their lands loaned
their money on mortgage, or credited any body in
any manner in good faith. At one fell swoop
they are stripped Of everything, deprived Of the
privilege Of collecting even aportion OF their debts
and told that they shall not in the present estab
lsh valid title for payment in the aroff future
In other words, they may be starved pitilessly
while those who owe them money, and enjoy their
property, may go on owing and enjoying in conse-
quence OF the immunity granted by the Legislature.
Bat, we have written than contem-
plated when we commenced; and will conclude
by directing the carefu attention of the community
&c the letter in question: