New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-11-16
sTAY LAWS. ANI,-ssl-IsoRTH.


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| We are opposed TO unconditional stay Jaws, We
| think poorly Of them. No matter ntwhat light
/ they may be viewed, they are fraught with injury
and injustice to innocent parties, and tend to the
impoSerishnient of the creditor, perhaps the star
walton of himself and family, while they benefit the
1 debtor who holds the money or property of the
creditor, on which he has not paid oent-which
actually does not belong to him, as he has not paid
1 for it-and which money or property, if surgen-
dered TO, or in the possession of, the rightful
owner, would render him Comparatively easy II
not independent, in his pecunary circumstances.
The general effect Of stay laws is to ruin the man
who has righteous claims, for the benefit of the in
diyiduaa who is enjoying the use Off his property
without remuneration. There is no getting over,
under or around this proposition, equity and just
| ice being duly considered ''72 "a
| Let us illustrate: borrows BIS money, OF
purchases his property. for which he gives his
notes. These notes are all that B has to depend
upon for living. Hard times come on, and the
| Legislature enaets stay law. starves, while
| A gets along very comfortably, by the use of BIS
] property or money! Is there any equity, right
| eoQsness. or even the commonest sort of common
honesty, IN this If there be, we are unable to
discover it. II the law prescribed that A should
surrender to B the property and effects he had not
/ paid for-on account of which 3 was suffering
materially -and thus reinstate him in his former
position, as far as might be-, then there would be
some show Of equity displayed; but to allow A to
hold BIS property, to his damage and distress, by
| the operation of astay law, rigid and unqualified
| in its character, we hold to be in the highest
degree unjustiiable. @ -
Are there to be no 1sympathes for creditors
Must all be expended to benefit the debtors, who
hold their property under solemn contract, un-
paid for? IL certain parties are to be sacrificed,
| which should be sacrificed frst--the aan who en-
Joys his neighbor's property, bought on credit,
or the neighbor who sold it for fair eonsidera-
ton, and who, fos the wantof the property or the
consideration il suffering all the evils of penury
Have creditors no. rights? Have, widows and
orphans no rights Must all legislation 60 to ben
EFT those who are honestly indebted TO others
And, speaking of widows and orphans, we can
point to State IN which a stay law prevails,
where widows and orphans, rich in the possession
OF this world's goods, so far securities are
concerned, would have suffered absolute want
had it not been that they had some big-hearted
relatives, who attended to them faithfully and
sedGlously! In the State we speak of we know of
numerous cases of this sort. Have the stay law
advocates ever reflected upon the evils they would
bring upon the widowssand orphans of the Com
m0nwealth should their sweeping measure be CON
irrned by the Legislature7 We put this question
plainly to them leaving altogether out of view the
rights of str0ng-hmbed men, who can earn Hv-
ing for themselves even if they are robbed of their
property by Interpretation Of an unjust and uncon-
ssdtutonal stay law. 8 s. .sH .ggE 7F /
s So far as the proposed stay law is concerned it
is entirely Unconstitutional and the Supreme Court
will be bound so to pronounce whenever case
properly conaes before that tribunal 1t Is doubIy
SO, for the Constitution of Louisiana expressly
prohibits the Legislature from passing any law
which ifapairs the obligations of contracts and
the Constitution of the Confederate States, which
vas solemny accepted and ratified by the people
of Louisiana in Convention assembled says the
same thing ssEC} 20 ,,.Ess4'.l E7s siEhs2rsg
Then, again, this sweeping stay law it is pro
posed to enact, is fraught with an injustice in the
future which goes far beyond anything we have
alleged against it above. It is proposed to sus-
pend the collection of debts during the swarif we
properly understand the advocates of the measure,
How long the war may last, no man knows.
Hence, the debtor who is good to-day may be in
solvent before the conclusion of the strifeie may
only security Of his creditor-and, when peace
once more smiles upon the land fhe creditor will
be as bankrupt as the debtor all owing to the
operation of staylaw which was unqualified in
its workings, and which prevented him from es- |
tablishng a legal lien. e&|'* less F~s
We fully realize the hardness Of the times, and |
duly appreciate the motives Of those who endeayor
to alleviate the prevailing distress by seeking re-
lief at the hands Of the Legislature Indeed we |
are perfectly willing to quietly submit to- even if
We cannot warmly advocate, anything within the |
bounds of reason. Let the widows and orphans be |
protected as they are now protected let sucees |
sions be cared for as they are now cared for; let
the ordinary business of the Courts proceed as is
now proceeding; and, if it should be, deemed adj |
yisable by the Legislature, let a law be passed |
allowing suits to be prosecuted to Judgment, thus
holding the property by inalienable lien and Sc
curing the creditor ultimately, while, at the same
time and in the same act, provision maybe made
forthe suspension of sale under execution until
given period. We believe that such d law as this
would meet with quite general appreciation.
although it cannot be defended on strictly CON
grounds Still, the exigencies of the /
times would go far to justify ii, if, indeed they do
not warrant il. But, any law which would deprive
the creditor of every right he now possesses under
the Constitution, and which would, at the same |
time, mperi If it did not utterly destroy the value
of his rights in the future, would be unjust and IN
righteous, and deserving the seyerest condemnation
At the hands Of an honorable public. y
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