The Lancaster ledger. [volume] (Lancaster, S.C.) 1852-1905, 1866-07-18
Relief to Debtors.

We observe that m eetinga have recently been
held in several Dist ic.s Of the State, to give
expression 10 public sentiment on the subject
OF tie late Stay Law and the decision of its
unconstItu;ionality by the highest judicial tri
bunal in the STATE, and to inaugurate some sys
tenn Of relof to d debtors under the perilous cir,
cumstances by which they are surrounded.
1t relief ia within the power OF the people.
either through the State Legislature or a State
Convention, these public demonstrations are
perhaps proper and should be encouraged. II.
on the other hand, the people of South Carroll
ma are absolutely power'ess in the premises ana
have no control over the uhect matter under
consideration, then these public meetings will
doubtless do harm, by encouraging belief that
rehet IS at hand, when no relief is possible
For it is obvious that if it be not possible to re-
heve the debtor from the terms of the contract
by which he voluntarily bound himself. IN.
sooner this unpleasant truth is realized the bet.
ter, so that debtor aud creditor may make such
arrangements as will subs,r7e the interests of
both.
Now, the true. and the only practical cues
ton is, whether relief is within the power of
tho people of the State?
More than six months ago, when "repuda.
tion" was the a'absorbing public topic, we er,.
seavored to show. in ell article prepared with
some care, that certain provision in the Con.
stitution Of the United States was An insupe La,
Die barrier to the wii project, so generally enter
tanned, OF repudiation of all private contracts
That Instrument, which lie i. remembered is
The supreme io'O Of the land, says tha. no State
shall pass law impairiug the obligation of con
tracts This provision was o doub, matur.lr
considered and wisely inserted by our foref,.
thcrs with view to remove from the reach
oi the States temptation, which, under extra.
ordinary circumstances, Qike the present) they
might he induced to fall into, by interfering with
the sanctity Of contracts between man and man.
Inc Court OF Errors, the highest judicial Tri.
bunal in the State, has decided that the late
Stay Law belong. to the class of laws interdicu
Led by the Constitution Of the United States,
and upon that ground, and that alone, they
have declared it 20 be imperative and void.
Now with this experience and these facts be.
lore u.s. seeing that we are the dependents Of
Government, one of the constitutional rcouircr
ments oi which, is, that no State shall pass a
law to change or impair the obligation Of con.
tracts, is it not cheer nonsense to talk of the
state Legislature. or Convention. affordins
remedy, either by Reputation" by "scsling
debts, or by extending the time for their col.
lection %, 'r
Let those who are clamcrors for q meeting
OF The gslature. seriously reflect whether that
body can devise . law tha, would be consti,u
tonal. The measures which We have heard
suggested. such as closing the Circuit Courts,
abo'shins the Office Of Sheriff. &c, are rerolu,
honary in their character and cannot commend
theTse'veo TO tie niind Of any cane or prudent
Individual. -" - 'r
In our Judgment there is but one way-one
hope of escape from the difficulties by which
VIC are surrounded. and that is, to face our tro,r
ble' with manliness and hope, practice forbear.
ance toward each other, deal honestly with
those whom We owe, md trust tho future TO
Providence.
The popular clamor, the harsegues of public
speakers and newspaper editors, on the subject
OF referring this grave question to the people,
can only result in mischief. Il has all eady had
the effect to unsettle credit. and, if persevered
in. will drive out capitalists and money from
the country. No man will feel safe in lending
money, even to his nearest neishbor, while
public sentiment manifcsts a want OF apyrecia,
tion OF moral obligation. Honesty of purpose
is far the beat policy in the end, and If all are
sctuated by this feeling, much of the trouble
and dilfi Guilty which the future promi.es, will
be obviated.
Let a good feeling be engsndered between
debtor and creditor. II is the interest OF bo h
TO ask and grant concessions. aud if left to
Themselves, untrammesd by tho devices Of dom
ngogues. they will no doubt make arrange
ments, moro satisfactory to themselves, and
advantageous to the country at large than il 10
possible for tbs Legislature of the State to
make for them. o."
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