The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1865-09-19
REGULATION OF PRIVATE debts

REPUDIATION OF PRIVATE DEBTS.
1t is greatly to be regretted that SO much has
been said In North Carolina, about the repudia.
ton of private debts and contracts between the
citizens, with which the State and the counties
have no connection. The subject seems to have
gone into general discussion, and every man ap-
pears to have been called on to make up his
mind Many, no doubt, have been entirely
honest in their motives, whilst some have agi-
tated the subject to gain Political promotion,
and others have had no better object in view
than to bring about an easy mode of paying their
enormous debts.
It is very singular that this subject should be
brought up and discussed at this time, when
elections for the Convention are to take place
The Convention most certainly has no power to
repudiate private debts or private contracts
The Legislature will have none. That no State
shall have power to change the obligation of
contracts, is expressly stated in the Constitu-
ton of the United States. If the States ever
had any such power, they parted with itwhen
the general government was founded
There Is no power to interfere with private
contracts outside of Congress. That body has
the power to pass general bankrupt law, and
it has done SO heretofore. But it mas never
passed such law, without compelling the debtor
to give up all his property. When man runs
as candidate for the Convention, or for the Leg
isature, and urges his election on the grounds
that he is in favor of repudiating private debts
and private contracts, be promises TO do what,
he will have no power to perform. He promises
to do that which the Constitution says he shall
not do. If such man were to be elected, be
would have no more power to repudiate private
contracts; than he would have if he were not
elected, because when he took his seat in the
Convention, or in the Legislature, he would be
compelled to take an oath to support the Con-
stitution Of the United States, and that Consttu-
ton deprives the Conventions and Legislatures
OF the States from passing any such laws. After
he had taken that oath, which he would have to
do before he could act as member of either
body, he would violate his oath by such vote.
AS long as he remains at home he can advocate
such reputation, but when he shall have been
elected and taken the oath of office, he deprives
himself Of that right. No member of legsla-
tive body has the right to vote and cast influence
in favor OF violating constitution that he has
just sworn to support.
The injustice Of such law must be apparent.
It is fair to be presumed that every man has had
what he supposed was a valuable consideration
for every debt he owes He owes his neighbor
a debt because his neighbor sold him property,
ahu gave hlL tiule W pay Ior IL, lustedo VI CA
acting the cash. If he does not pay the debt,
be takes that much Of his neighbours earnings
for nothing.
The decentralization Of such discussions is very
injurious to any community. 1t causes men to
suspect and dlstrust each other, SO that no man
will have credit to use ia the day of need. The
low standing of men who refuse to pay their
debts, and seek out expedierts to shun the per-
Torrance of their contracts, is we'll known to US
all. No man denies but they are justly AVOIDED
by all right minded men- And it is to this
very low and degraded position, that men are
bringing whole communities and States, when
they advocate and advise the Reputation Ct pri-
vate debts 1t is too plain and too evident to
all to need argument illustration. A man
who will not pay his honest debts, has always
been regarded in North Carolina as a nuisance
and pest to good society and to good morals,
and it is to be hoped that morals and society will
never sink SO low, as to raise the standing of
these blood suckers and scape- graces, who live
by the labor Of honest, unsuspecting men, aud
take the food out of the mouth of unprotected
widows and orphans .-Raleiyh Standard:
A BLACK EDIToR's OPINION Black