The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1865-08-14
what is to become or, ol,, f,ebt ), \

nut - 10 Uccoxnc or Old Debts: a.
MIR. EDITOR: This is q question of
vital import. and is deservedly attract
ing much attention and discussion
among the people. There are very
few persons in the State who are not
personally interested in it's solution, a
small number: Us creditors, very
large number as debtors. It is rare
indeed to find an individual who is
not involved, either on his own &C
count. OF as security for others. Hence
the al-pervading interest in the mo-
mentous question: What is to hc done
with old debts? This and the q1,es-
tion of labor are the great questions
of the day. "'he necessity for their
thorough consideration is Imperative;
upon their solution depends the veal
or woe of this Commonwealth, for
generations to como. The former
mode of reasoning will mot suit now
The whole order Of things is funda-
mentally changed. BY an act of the
governing power, nearly the entire
property OF the people has been swept
faway at cone fell swoop''-the very
property too upon whose credit their
debts were based. TO suppose that
these debts, or tenth part thereof,
can ever be paid out Of the pittancc
lett, is the vcriest dream OF lunacv.
What, then, is to be done? Shall they
continue to hang like an incubus over
the poor debtor, pal,&lyzing all his
energies, blasting III his hopes, shut
ting up every avenue before him, and
even removing and Destroying his
only chance to gain bread for his chill
dren by the sweat OF his: brow? In
many instances, the very property for
which the debt was contracted, is.in-
vested with the attributes of freed
men and is vnG&bondizing over the
country, making raids upon the beg
garly remnants lett to their former
masters. And now must, the homo
Stead OF the unfortunate master be
cruelty torn from him. and his wife
and children be turned out into the
world, houselcss, homeless, bcSgalS?
When he contracted his debts, he had
abundant means to pay them, hut
these have been swept away by Act Of
Govcrn'nent. 1t was said by the
chief ruler of the nation, that ''the
friction of the rebellion had rubbed
out slavery Well, SO he it. And
why shall not the same friction rub
out debts and contracts based upon
slavery? Does not every consideration
OF reason, Justice ant. sound policy
require it? Again we say, upon tn"
solution OF this great question, with
that OF the regulation OF labor, do
pends the prosperity on ruin OF ON.
country. Permit the newly-ile.ls,.l
freedmen to Degenerate, in:o an Idle.
vagabo:l'! ;lnd pilfcr;ng vayrant. as he
inevitably VIII, without the rc-,t..ain-
ing power OF law. and start the lawyer
and sheriff with their tol,l machinery
OF III .tH. $ w, ST $, etc. and tie doom
OF the country is forever scalc,l.
Should not th"st questions engage
the attention OF the approaching Con-
vention? The Old building OF State
Government, lik" your old Capitol. is
pile Of sinouldcrins ruins. You
must now begin to bl,ild>he uoso. The
~" oAtei ol. <FoNclHlN'NI VIII require
the application OF new principles
Slavery, formerly or king, is ''g gone
up, def,lnct, ''no son of his succeed
ing" The country has undergone q
radical, revolutionary change There
is Il totally different regime, rcu,,iiirly
a totally different polity and policy.
There must be :: general adaptation to
this new order of things Slavery
has been wiped out. The debts oi
the country, basc1. upon it, must be
wiped out too. In framing Il new
State Constitution, it will be the duty
of the Convention to deliberate we'll
upon these questions, and institute
measures adapted " the c2isencics of
the times. They must realize the
great fact that the people of this coun-
Try have to commence life anew. :
With the ;tbroSation OF old systems
and old institutions tho mannclpS loft