The tri-weekly news. [volume] (Winnsboro, S.C.) 1865-1876, 1865-08-24
From The Tri-weekly News, Aug. F.-COm.
Reputation. < S

Frcm The Tri-Weekly News, Aug, lI.-Com.
Reputation. y
Mr.. EDlToR.
4 There is a very general misconcep,
tion on the part of our people on this
subject. TO what extent the State
would be benefited by tho passage of a
lew cancelling all existing private debts,
is question that heed not be considered,
fit is impossible to enact such a law.
Now, can such law be passed
The "Convention" can pass no specific
laws. 1t can only, by Constitution,
prescribe what Kind Of laws the Legis'
lature may, or may not. enact; how
these laws are to be enacted, and how
executed.
Can the Legislature pass such law ?
Our present Constitution, Art. TX, Sec.
2, declares that "no law in,pairing the
obligation of contracts, shall ever be
passed by the Legislature of this State. "
This the Convention can strike out. hut
1t cannot ordain the contrary authorizing
the Legislature to pass such law.
The Constitution of the United States,
Art. |. Sec. |. declares "No State shall
pass any law impairing the obligation Of
contracts" This prohibition has been
uniformly held to apply to contracts
made by the citizens of the same State,
as we'll rs between the citizens of differ.
ent States. This prohibition is final, for
the Constitution of the United States is
the Constitution Of each and every one
OF the States. SAould our Constitution
allow, and our Legislature enact, law
impairing the obligation of contracts, the
Constitution of the United States would
make such a law null and void. Our
Judges would recognize such law.
BY Article vi of the United States Con.
stltution, that Constitution is made the
supreme law Of the land and the
Judges in every State shall be bound
thereby anything in the Constitution,
or laws Of any State, to the contrary
| Notwithstanding" To render this pro.
vision the more efficient, the same Ar.
ticle requires that all the Judges of the
several States "shall be bound by oath
" ouppOII JulS CONSTITUTION.
There are several classes of laws
which may be passed for the relief Of
debtors, such as bankrupt and insol
vent debtors laws, exemption laws, and
stay laws, All bankrupt or imsolvent
debtors laws, without exception, that
have ever been passed by any State OF
BY Congress, require the surrender by
the debtor Of all his property. And in
respect to them, Kent in his commenta.
ries on the Constitution Of the United
States, gives it as decided that in order
for State law not to violate the Uni
ted Constitution 'the debt must have
been contracted after the passing Of the
Act Vol. l. p. 422.
Exemption laws are always prospec
tiOe. Thus, onr exemption Act of 1923,
| and the Homestead Act of 1851, in ex.
press terms, are made to apply only to
"debts thereafter contracted" This
was necessary to render them constitu
tional, in not impairing the obligation o.
existing contracts. N
How far stay laws can be extended
without fmpairing the obligation Of con
tracts, has not yet been decided. These
it is the province of the Legislature tc
pass. sa1|%t @
We conclude by stating three propo
sitions, which we hold to lie, in point O
law, undeniable
lst. Without an amendment of thu
Constitution of the United States. nc
power can pass valid law, cancelline
existing private debts.
End. The Legislature is the proper
authority to pass laws for the relief O
debtors.
| 3rd. All such laws must be so framed
as not to impair the obligation Of exist
ing contracts,
- JURrscoNsuLTus.
| -------~o. -s~e~& -
FRoM TExAs.--Proyisional Governor
Andrew j. Hamilton reached Galveston