The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1866-11-01

sC COMsAOeraHOh o. nahA
Regulate Final Process. ON = Tuds
nlents and Decrees.
Mn SPEAKER The policy Of tn
measure under consideration--it
beneficial affects on the community a
large-seems to be conceded on al
hands. When the Indebtedness OF
which the several provisions of th'
Bill operate--was incurred, there was
species of property owned by the
people, (tohieh no longer erists) worth
at least two hundred and fifty millions
of dollars--a sum much larger, it is
believed, than the entire individual
Indebtedness. To that property, and
the products of its labor, creditors
looked chiefly for the ultimate solvency
of debtors, and as a means of pay
ment.
1t can not be justly claimed that the
annihilation of this vast amount of
property is chargeable to the in
dividual conduct of the debtors. 1t
has been swept away by paramount
public authority. 1t has been swal-
lowed up and lost in the revolution,
through which the country has past
in which debtors and creditors alike
participated. 1t has been lost by the
acts and results Of war and Constitu-
tional amendments which all
classes and interests were partici-
pants, and against which individual
prudence could not provide, and
protect.
The ability Of the people to dis
charge their liabilities is from this
cause alone, diminished two hundred
and fifty millions dollars, from what it
was when created. In addition to
this, are such losses as have occurred
from the burning of cotton, farm
houses and other buildings, private
and public, the loss of animals, of
husbandry, the destrucsio of planta-
lions, &c., which would swell the sum
lp to at least another fifty millions.
Agriculture is now, and ever has
been the main source of production
md wealth-one half or more of the /
,apital invested in that business
prior to 1862, has, from the causes to
which have referred, been absolutely a
destroyed. There remains little or :
nothing to the planting community :
except Landslide animals and imple-
nents upon it; and the crops, that ,
nay be produced. Those of them
Vho saved, out of the general wreck, t
otton or other things that will bring
money, are the favored and fortunate p
ew. From the course of business, 4
lanters generally were in debt at the +
of the war-not, however, :,
eyond their ability to pay. For, sir, u
do not believe that the agricultural 4
lterest, anywhere in the United States, q
as more solvent than in Mississippi, p
l 1860 and 1861. During the four d
ears Of the war,debts were suspended, 3,
ourts were unfrequent, and the lands bl
ere devoted rather to the production p p
bread crops than cotton; in the
Ieantime interest was accumulating il
0 that il the Legislature do not inter
ose to give a breathing. spell, the real p
,tate in thousands and thousands Of Ia
stances must change owners. In eli
ldition to this, the yield of both be
,tton and corn this year has been so tn
Iort that planters viii need the entire m
-oceeds Of the cotton. TO procure the ed
'cessary supplies for next year and Of
pay for labor. Planting opera tn
)na viii be most seriously crippled
ID embarrassed, unless the proceeds pr
this years cotton can be used in ge
aking the next crop; without this =.
ry many must retire from the bust an
IS altogether, and their fields lie r.
low, or pass into the hands Of I
ssees. oI
Considerations invoking the serious as
ought OF the statesman and political ~
Onomist, take hold Of this subject: wi
DIV long shall that large class, hope 81
81
i1lfs an uunuAke - uEUts DC neiu IN -
rvitude' Is is Of any advantage to h1