The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1866-10-08

chase Of old claims and liabilities, and It
would be well for creditors 10 be on their
guard, for whore the. debtor possessed real
estate at the commencement Of the war, IL
mas; yet be. reached, though Il may have
|beeu sold and res0ld q number Of times.
Il may be shown that we had govern.
mept de facto, yet 1t may be maintained
that the de facto government could not I'M
pair the rights of citizen under the 60
vcrnment de j,re, and where those rights
had been impaired by laws under the de
facto government, the de jure government
may restore them. -
II Is true this would involve great ex.
pense, an immense amount of Legislation,
and long time; but it is well to remen.
| her that We are raising at present multi.
tude of young lawyers, all Of whom will
want business, and it will cost them moth
| inr to prosecute such cases, which may not
only be interesting, but in the end prove
lucrative. tsk
II may be 0 temporary relief to some to
have legislative bodies who are regardless
of their plighted faith, but 1t Is not wise
| for o people to sustain those who violate
their obligations to the fundamental law.
Such course may lead them and their
| posterity to life of vexation and poverty,
and after it is too late, they may arrive at
the conclusion that "honesty is the best
policy"
1t may be asked if the debtors property
| is to be sacrificed to the demands Of hun
pry creditors. I say no. If our lawmakers
had directed their attention to this subject
they might have been better employed.
They might have provided against the sale
of property unless it should bring some
thing like its value; but instead of this, no
sale of property is to be enforced, though
it should bring ten times its value. They
might have done more. They might have
rendered solid service to the people and
State by convincing the world that every
dollars worth Of mans property shall be
liable for his debts; then We might go
abroad and borrow on the faith Of our
property, and might, with a sound credit,
hope to restore the fallen fortunes of our
dear old Virginia. But as it Is we won't
trust each other, for We are afraid Of
another stay law; hence, no money will
come to Virginia or any other place where
stay laws exist.
The capitalist is shrcwd man, as it is
an old proverb that "fools have but little
money!" The man of capital sends his
money not only where he thinks it safe,
but at the same time to locality where
| It can be collected without hindrancc when
| it may be desirable to do so.
bought and sold land before the war
for which have not paid, nor have | re-
ccivcd q dollar in payment for mine, and
have perhaps lost as many slaves as all my
4 IL nr,lstarc mt thor vat II
would be nice business for me to say to
my creditors, must have your land that
you sold me, and your money you have
loaned me, to reimburse my loss in slaves,
thereby throwing my loss Of slaves on
them. Such chaff as this is not worthy Of
children, far less of financiers and men of
business. might just as well say to man
who had sold me on credit lot OF ground
on which had erected house that had
burned down, that must have his land to
pay for my house or G might say to ID, his
merchant, based my purchase of goods on
my growing crop that has been destroyed
by the flood, therefore / must have your
goods to pay for my crop; or, If somebody
had broken into AS stable and stolen his
horse, he might break into BIS pork-hOuse
and steal his bacon.
Such arguments are not worth the time
it takes to write them; and any man is q
fool who expects to hold his property with
out paying his Just debts. The effort to
hold by fraud will only lead to shame and
poverty for him and his, though it may
take years to reach it. .
No man can deny that Virginia needs
relief; but so far from relief, our legisla-
ture has increased the difficulties of a large
class of honest debtors who have been
forced to place their property beyond their
control to save themselves from ruin, and
portion of their more lenient creditors
from entire loss Of their claims.
That some plan of relief may be adopted,
suggest that convention of creditors be
held, and petition Congress for bankrupt
law. In the mean time they may resolve
to release as many debtors from their La
bilities as it is practicable to do, who will
make an honest surrender Of all their pro-
perty. When man gives up all he has
no more should be required Of him. Then
he should be free to make an honest liveli-
hood, and fortune if he can, and enjoy
the same in quiet. !. ri.
A movement of this sort may be produc-
tive of much good. 1t would have q
soothing effect, aud in some degree restore
confidence between man and man; and In
many cases debtors could make arrange
ments to hold their property for o longer
or shorter period, and various compro-
misses might be effected.
No legislative enactment can screen q
mo- from payment who has visible means;
tor there is not remote probability that
the courts of Virginia will sustain any law
that con6scates the property of one citi-
zen for the benefit Of another; and even II
they should, the Federal courts would
then be open to the creditor, wherein he
might prosecute his claims with certainty
of success, though pettifoggers (not law
yers) will tell you to the contrary.
am not to be understood as saying that
lawyers will not argue cases to sustain the
stay law; this is different question,
foreign to this subject, and with which we
have nothing to do: but If they had to
make their cases, they would most likely
all be found on the same side.
Very respectfully, JEFFERSON.
1~x-r~y . UynNy nrN