The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-09-12

s. P. knaard, Newberry.
samuel Drouthitt, Greenviilc C. H.
VIM. Moore, Abbcville c. II.
julius Poppe, Anderson c. 81.
,.rat- +. Debtor and Creditor.
LAS this question is occupying much
attention from the people of this
State, and is now under consideration
by the Legislature, we extract below
some remarks made by Judge Reese,
In recent address to the Grand
Jury of Baldwin County, in Geor-
GA, BIS views arc worthy of con-
sideration:
rso4t requires no prophetic eve to sec
that tho feeling now being eneender-
ed between the debtor and creditor
relass unless course of conduct diff
ferent from that now being pursued
by both parties be adopted) will cul-
inmate in deadly hostility, in lawless-
ness. and IN serious injury to the
agricultural interests of the country.
0n one band, the debtor, whose pros
perlty consisted principally in slaves,
and who, by reason Of emancipation,
y not now possessed of property suf-
ac!ent to discharge his pecuniary
Liabilities, feels that the action Of
government has relieved him from
Mfmoral Obligation. and is, therefore,
md1herent rs to the payment of his
debts.
On the other hand, the creditor,
seeing this indifference, is, in most
cases, proceeding to obtain iudc
-.olection Of his debt to the @ extent i q
the debtors assets, whenever the law
shall allow him so to do.
inns course of conduct, by the re
.spective parties, brings about mutual
charges Of dishonesty and unfai,
dealing. and must, if persisted in.
eventually lead to state of thinos
easily imagined, hard to be depicted.
sand greatly to be deplored.
propose, briefly, to establish the
proposition, that in all cases of debts
contracted prior to the lst day OF
June, 1865, where the debtor has moi
o suHciency of property to DISCHARGE
all his liabilities, without leaving his
4amaiy comparatively destitute it
WIN be to the interest of the debtor.
70 the aanterest of the creditor, and
i9r the good of the country, that
t1ere sshould be compounding be-
tween the parties OF once, they taking
Tor their guide the rule of con. /. t
prescribed by Him who spake as
never man spoke, viz: GAS We would
that men should do unto you, do YOU
also unto them likewise. %
First, then, will it be to the interest
or the debtor? It is clear, to nv
mind, that the planter who finds
himself without suficiency of pro
,party at fair valuation, to pay of
his indebtedness now, cannot reason
ably, under the present labor system.
ana with heavy pecuniary Liabilities
hanging over him, to better his con-
datson in the pursuit of his former
vocation; and without capital he can
not embark in any other business.
~ is not human nature for man to be
iiadustrious and energetic with iudg-
Tnent liens against him beyond the
value OF his property. He is con-
stautly watching and expecting the
officer of the law to take the last
laxury, If not the last comfort. rom
his family. He becomes unma.. aed,
ss'SAOoo " lIS AAAluy anu 10 society.
1t requires no heightened argument
TO prove that O debtor thus circum-
stanced will have more left by com
pounding with his creditors now.
than he will have by waiting for the
end OF the law; for / am fully per-
suaded that there are bnt few credi-
i. tors who, when properly approached
by the honest debtor, will not be
willing to compound upon liberal
terms: taking into consideration, if
you please, the losses of himself and
debtor by the action Of the Govern
ment in abolishing the Institution of
slavery, and the ratio which the debt
bears to such losses compared with
the property left to each. You may,
among creditors, now and then, find
"pound-of-hesh creature" who will
be unwilling to compound upon any
terms, bat he win be the exception,
unless am mnch mistaken in the
spirit peryading the creditor class, as
also thsir intelligence in understand
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