Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-09-24

construction mentioned. The remedy against any
debtor, is the same as that in his favor.
The question propOunded about ''hOme debtsY
andHfoTegn debts,r arises only where there may be
deficiency of assets; that msy occur, and without
fault if so, preference may be given in the CLASH
hcation Of creditors.
Merchants owe the larger portion Of this debt.
because they carry on the commerce and trade of
the country. They are large and indispensable
class of men, and deserve the protection of the
Government, and it is not justice or correct policy
to make any measure oppressive on q class.
Ny individual opinion is this that country debts"
can be used to pay Merchants debit, = when they
desire to do SO. The Court has discretion
to extent under the provision for security but
if not found in the Act Congress could enlarge IT.
and throw around it safeguard. The effect Of this
would be to reach the producers and manufacturers
In the country, and set at liberty the trading and
commercial classes. These debts may be discharged
by Confederate States Treasury notes, and would
create demand for them everywhere in the coun-
try, snd sustain their permanent value with this
new denann, and the suspension of all The banks in
tbs Confederacy, the dirsct tarn may be postponed
till after the war The whole business of the Gov
eminent can be conducted on Treasury Notes. y
The Sequestration Act therefore, instead Of being
one Of oppression may be made most welcome
measure Of Telisf, not only 70 merchants, but the
whole country. The direct soaT tar bears upon all,
and all would prefer to see it postponed till we
tablish the independence of our government and
open the ports for our productions.
This measure of sequestration divides itself into
two parts: First, the proceedings IN the court
to put on record the facts that a. B. is sn "slien
enemy" and has property debts due him, in the
Confederate States. This being done, and decree
or order made that the "alien enemy'sn rights are
transferred to the Government; this makes the first
point in the proceeding. The debtor here must pay
to his own government, when payments to be made;
and the Foreign creditor must look to his own gov
erument for the loss which he has sustained. The
Northern States made war on US, and then coscated
our property; and are still committing daily depre
d&tions;ws prepare to protect cur own citizens by
retaliation. If merchant Of New York lsse
million of dollars in the Gonfederacy; 1t constitutes
claim against his own government for this amount
It is our policy to make this debt, due to her ci
zens as large as possible because it will increase
their taxes and also njure their credit in Europe
and elsewhere. Suppose this claim by her citizens
for losses be two hundred millions, and their war
expenses three hundred and sixty-fve millions
the first year. the whole liability at the end Of the
year is six hundred and fifteen millions of dollars,
it is therefore important to fix on them this liability
as possible, as to cripple their credit and
resources.
The Second part, is payment.
This branch of the question is most material to
the merchants" making the inquiries ALLUDED to.
81,
are around US and should be as lenient as the
Law will allow, as not to molest or destroy the
energies of any class, and particularly merchants.
Ali the haste should be thrown into the first
branch and think the law and instructions from
the Attorney General clearly indicate the proceed
ngs for the Decretal Order, establishing SeqasSrd
ton, should! be done promptly. Haste in getting
DEGREES on the first branch, does not imply haste
in payment state this distinction that it may not
be misunderstood The true policy is to go through
the first part mptly-through the SeesHd, which
the payment slololy. |
To aid in the first part, it is made the duty of all
to report to me- in this division, a the information
they may have on the subject, The sooner the
sequestration is established the sooner we fix the
claim Oh the Northern Government in favor of
their owa citizens; this does not interfere with
delays" time and extension " in payments
controlled by Congress, the Court and the instruc
tiOns Of the Attorney General.
Tennessee was admitted into the, .Confederacy
about thu Ist July. The 2lst of May, mentioned in
the Act is the date of the declaration of War. In
ternaional Law, from that date, determined the
rights of the citizens of each government War
makes the citizens enemies to each other and they
~
Act is, therefore, not /" eS post fdcton but merely
refers to date, when todr was declared. The law
of Nations did not operate in Tennessee till her
admission into the Southern Confederscy, Let July.
Without very strict scrutiny, an opinion is asked
if debt due an alien enemy" should be collect
ed Take this illustration: A. and B. are both mer-
chants in Nashville. A purchases on time in New
York, five thousand dollars worth of goods, brings
them here and sells them for six thousand dollars
B. purchases the same amount in New Orleans,
and sells them for the same profit The North and
South divided, and war follows. The creditor from
New Orleans calls on B. for payment, both debts
being due, B. can offer no reason why he should not
pay; he bought the goods and sold them for profit.
A. did the same-war prevents the New York credi-
tor from coming into the country, but the Govern
ment says to A., you have five thousand dollars in
our hands which belongs to an enemy, and that
enemy has seized and confscated five thousand dol
lars worth of property belonging to one of our
citizens, and 1 require you to pay this money to
him, A says, there is war and should be released.
D. was not released by the war Is there any diff
ference in their moral obligations TO pay Gotten
planters sugar planters, tobacco planters and stock
growers, and others classes who owe debts to
Southern men are not released.
Our Congress is composed of men Of ability,
learning and experience, and aetuated by strong
desire to do justice to their constituents and pre-
sumption is in favor of what they have done, though
details may require amendment.
S. R: CocKRILL.
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