New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-12-09
The Prouoseh Stay-Luw.

We clip the following excellent article from the
Bee of Friday morning last, and earnestly COM
mend it to the careful consideration of our legisla
tors. All experience has demonstrated that stay
laws have proved ready instruments of iniquity
to all who not guided by the canons Of moral
ity and the dictates of Justice" Indeed they gen.
orally injure the honest among the class they are
intended to benefit, besides disarranging all the
business relations Of society. With the Bee, we
say to our awgivers, that, II debtors possess a
claim upon their pity, creditors can make an ap-
peal to their justce.n With this preliminary, we
append the article Of the Bee:
The question of stay-law, in all its diversified
aspects is now before the General Assembly, and
may be expected te elicit some display Of feeling,
and a considerable amount of eloquent and learned
discussion few weeks ago, we took occasion
to express, in rather general way, our repug
nance to all intervention by legislative enactment
between creditors and debtors. Further reflection
has not shaken our conviction. We regard stay
laws as unjust in principle calculated to establish
an improper and iniquitous preference for the
debtor over the creditor, and tending directly to
encourage tortuous and dishonest methods of eVad
ing the obligation OF paying ones debts. So uni
yersa Is this belief, that scarcely any Legislature
would venture openly and boldly to pass law
suspending the collection Of debts. The nearest
approach to this has been done in Mississippi--a
State which. gallant, brave and chiyalrous all
admit her to be, has too frequently exhibited loos
ness and axity in the conduct OF her pecuniary re-
lstions. This example, therefore. of Mississippi in
this respect, is not to be commended
Our own General Assembly, we are glad to
learn, will not suffer itself to be hurried by the
clamors Of interested parties into the sentiment of
any general and sweeping statute touching the
suspension OF the collection of debts. The men,
bers, we trust will bear in mind that il debtors
possess claim upon their pity, creditors can
make potent appeal to their justice. If the OBJ
m iect of Stay-Law were exclusively the protection
~of honest but unfortunate debtors, none would
welcome its adoption more heartily than ourselves.
1t is perfectly true that in times like these and
pecially in crowded communities, it is precisely
this class which suffers most severely from the ra-
pacty and cruelty OF certain Shylocks. II man
tolerably well of owes money, and is threatened
with suit at law for its recovery, he can fee an
advocate, fight his antagonist before the courts,
and in all probability delay that final Judgment or
execution for many months such an individual
needs no Stay-Law to help him. He is fully capable
of annoying, harrassing and thwarting the unfor-
tunate creditors for an indefinite period. But sup
pose o poor fellow, with large and helpless
family, menaced with levy on his scanty iurnl'
ture for unpaid rent. Where are his means to OBJ
tain a merciful delay? He has no money to pay
lawyer, He cannot invoke the thousand subtleties
and technicaties, the pleas in abatement, and the
numberess devices which sklilful members OF the
bar know how to use so as to stave on judgment,
and give breathing space to the luckless debtor.
He must pay up, or be distrained. The fate OF
such persons is truly pitiable. If Legislation could
SO act as to shelter them from ruthless exaGt,on,
and not unfrequently hopeless ruin, it would be
applauded by every upright and benevolent mlnd.
But herein lies the difficulty. 1t is almost lmpossl-
sble to invent laws having this partial efficacy.
With regard to those pecunlary nansacI IONS
which are of constant occurrence between diifer-
ent individuals, whether OF a commercial or private
character they may for the most part be safely
left to those general considerations OF the times,
circumstances and ability to pay, which are usually
consulted, and which govern both parties. Matters
of this sort are daily settled in our midst without
8 thought of litigation. If A owes b q sum OF
money for which in ordinaryttmes he is perfectly re-
sponsble, but which he is unwilling to raise at this
time, as it would involve heavy sacrifice, why B
j. content to receive part payment, or even to ac-
%!ept interest alone, aud renew the obhgatlon.
FThis is an every day event. When debtors are
known to be ultimately good, creditors adhere
nearly universally to the wise and mercliul policy
pursued by our banking Institutions, =" ray what
you can,u is the common declarahon-"h hqudate
your Indebtedness by degrees, and take further
time. If your available means are too stlnted to
warrant so much, pay up the interest and renew
your noteu Such is the process constantly en-
ployed especially in New Orleans, noted as 1t IS
for the extreme berality of its citizens, and their
marked indsposition to press heavily on the unior-
tunate. A Stay Law applied to this extensive
class would either prove nullty, or would work
mischief by tempting such debtors as are not rooted
and grounded in honesty to resort to improper
modes of defeating payment altogether.
Upon the whole, we really think that the sup
posed virtues of Stay Law have been vastly mag,
ni6ed. 1t might be source of relief to handful
of deserving people--it would certainly prove
ready instrument of iniquity to all who are not
guided by the canons of morality and the dictates
of Justice II its operations can be limited to the
class we have referred to, it will meet with little
objection. Otherwise, it is perhaps better that
Athe General Assembly should leave well enough