New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-11-27
THE pRoposEI,t s,rAY-r,Ayy,

Speaking OF the stayslaw which it is supposed
will be adopted by the Legislature in some shape
or other, the Baton Rouge Advocate of the oath
observes aThe people look to the Legislature for
some kind of security to their property against
the attacks of litigation in times like these, and as
far as we have been able to discern the temper of
our lawgiyers newson the eve of assembling here,
their anxious confidence will be met by safeguards
conservative OF the rights OF both creditor and
debtor. u ss -- 7.s
Very we'll Let us investigate. Have e. the
people whose s. property" the Advocate propo-
ses to protect against the attacks of litigation
any rghtfu claim to that property'n If they
have, they need entertain fears of litigation for
suits cannot be entered against them But, il it
equitably belongs to others--if they are enjoying
the effects of their neighbors without payment or
remuneration of any kind-it seems to us, as it
will seem to all honest men, that the rights Of
bona ride claimants should not be destroyed either
through direction or indirection, by the Legisla.
ture, to benefit the debtor class.
The Baton Rouge Advocate hopes that i" safe
guards conservative of the rights of both creditor
| and debtor will be framed by the Legislature.
To this proposition we have no objection to urge,
if the just vested rights Of one class are preserved
We would not Cypress the debtor; but, if he can.
not pay his creditor for the property he is using
and enjoying, let him return that property to the
person it properly belongs to. or make some other
satisfactory arrangement--not take refuge under
an Ubiquitous stay Jaw like that of Mississippiand
live comfortably, while another, to whom the prop
erty rghteously belongs, is suffering and his family
hungering, because he is deprived of that which is
honestly his own. Let the equities on both sides
| be daily weighed and impartially considered, and
then there will be little cause of complaint.
We have a proposition to make to the Legisla-
ture, which we hope will receive the appreciation
of the Advocate aud the community generally.
We deem it justto all parties interested. Ii it is
adopted, the property of the debtor cannot be
sacrificed, nor will creditors be robbed of their
inalienable rights, although they may have to wait
a long time for their money. We have an ap-
praisementl law now in force. If we recollect that
law correctly it provides that property offered for
sale under execution by the Sheriff shall be duly
appraised and if it does not bring two-thirds Of
the value thus set upon it, the sale is to be post
poned twelve months, when it is to be adjudcated
to the highest bidder. The appraisement, if we
remember rightly, is made by two persons one
selected by the plaintiff, the other by the defend
ant and if they cannot agree, the Sheriff calls in
third party to determine the matter. If neither
party selects appraisers, then the Sheriff chooses
disinterested persons, in order that the ends of
strict justice may be attained. So far, so good.
Now, for the equitable proposition alluded to-.
Let the business of our judicial tribunals progress
as heretofore. Let there be no interruption what
ever. But, let the Legislature alter the appraise-
ment law, in this regard, SO that property, instead
of being sold on execution, as it now is, under a
two-thirds valuation, shall not be allotted to any
bidder unless the entire sum ii is appraised al
shall be rendered. In other respects let the pres
ent law remain in force.
The passage of such law as this would hit
looking at the present condition of affairs, the
golden medium exactly. The creditor would not
be deprived of the right of establishing lien upon
the debtors property, and the debtor would have
the satisfaction of knowing that his property would
not be sacriticed-that it must bring the full price
fixed upon it by dsinterested third parties. No
honest debtor could object to sale under such
circumstances