Daily Richmond Whig. [volume] (Richmond, Va.) 1861-1862, 1861-11-25
THE STAY LAW.
To the Convention

To the Convention:
The passage OF tho Stay Law Of wisdom,
and fortunately for the people of the Confederate States,
1t was adopted by all the States. Without such mes-
sure the ruin of the country would have been well nigh
universal All admit that 1t alone enabled the people TO
pay the taxes The sudden fall of all property, the unu-
sua scarcity Of money, the inability of Of means to
raise money, make it highly proper that such law should
yet exist in some FORM But In what form such law
ought to exist is matter of grave enquiry. The debt
or ought not be released from the payment of his debts
nor ought the creditors to be allowed to force property
iuto market at ruinous sacrifice. The present law is
very imperfect The most wise change in the law seems
TO me to be THE: Allow suits to bs brought unless
AGAR absconding debtors men attempting to dispose
Of their property L.. the law every sale Of prop
sriy made, until its repeal, fer any purpose In other
words let the Law be 80 amended to keep all property
in it's present condition. Thus the property holder will
be enabled from the proceeds Of his estate to pay taxes
necessary for the support Of the war and for the nds
pensabe sustenance of families. This Jan puts all cred
itors on footing of equality and holds all property sub.
Jet to the payment OF debts after the expenses
paid. This can work no harm to any man. The rich
can live The needy will be enabled to pay taxes-sur.
tucu ihuiLNnt SSo1puy, oPPioP''"oe Pa's
Of their proceeds to the payment Of debts Let not the
rich creditor say he can not pay debts or taxes while
this law exists He Is not required to pay his debts any
more than other people and he with large means,
not pay taxes under the Stay Law, how can men In the
medium condition pay without il. This class is in the
aggregate the large paying class-and more than that
they the large fighting class The repeal of the law
would crush many soldiers estate who is now at dis.
lance from home Sighting the battles Of independence
and for the rights and property Of all classes Then let
this wise law be amended not to release any mans
hold upon anothe estate for his debts but arranged
to leave all property during the present terrible peri
cd Of national and personal difficulty in the hands Of the
holders first to pay taxes and then TO support families
If the debtor resorts to any fraud to defeat this just pur
pose let him forfeit all benefit under the law This only
gives the debtor control Of the proceeds Of his estate
gives the creditor supervision the property Of
the debtor that will enable him to hold 1t In place, for
the ultimate payment Of bis own demand against it
Repeal the Stay Law additionally and the govern
ment has the power to keep down the worst Of oil
strikes. Men will not allow themselves to be stripped Of
all their property and nothing paid by tho sale Oft It's
repeal is out Of the question.
One word more about myself I am much larger
creditor than debtor. The repeal Of the law would
BILE to invest surplus funds most advantageous
ly in property-but actuated only BY wish to pro-
mote the public good in throwing these brief sugges
tons to the Convention do Il with humanity In the
hope that good may Of it. Il is very certain that
the Convention and the Legislature ought settle
this important matter.
ACREDITOR.