The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1866-09-20

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and without Judgment Besides, if the
creditor compounds now and discharges
the debt, leaving to the debtor not only
what is exempt by our insolvent laws, oul
q suficiency OF property to enable nm m to 9
live and hope, my word for It, II - nc DC
man imbucd with proper senslbllltics, nc
will be hundred fold more anxious to
discharge the moral obligation OF debt
from which he has been released by the
voluntary action of his creditor, than he
ever will be if released by operation OF
tbe law. Tn the one case he will feel that
he is relieved from his legal obligation
merely-in the other case he will feel that
he has been relieved from his moral as
we'll as legal obligation. Such is the ma
ture of man. So, that in every aspect of
the subject, it seems to mo, it is to the in
terest of the creditor to compound now.
Let the debtor and creditor alike, remem-
Der the provcrb, "A prudent man fore
sceth the evil and hideth himself, but tho
simple pass on and are punished"
Sd. Will it be for the good of the coun-
try? 1t is undcniable that the largest
number of persons who have not sufli-
cheney of property left to discharge their
indebtedness, belong to the agricultural
class of our citizens, and have been
brought to their present condition by the
action of government in abolishing the in
stitution of slavery; and, unless these
persons can, in some way, be relieved
from the incubus Of Indebtedness incurred
prior to the 1st of June, 1865, the coun-
try must loose the benefit of a largo por
ton of its agricultural talent and enter
prise. The last Legislature Of the State.
seeing the difficulties in the premises. at
tempted remedy in the passage of what
is called "Thc Stay Law" but with the
meagrc crops Of this year, amounting in
many districts of the State, almost to Il
failure, taken in connection with the con-
struction put upon said act by the Chair
man of the Judiciary Committee who re-
ported the bill, that failure to pay one
fourth of q debt by the first day Of Janu-
ary of any year, makes the whole collect
able, it is now reasonably certain that
said act will net afford the lcfintendcd.
What then is to be done in the premi-
scs? l can think Of no better plan than
the one suggested in these remarks. 1t
is worse than idle TO look tor energy, in
dustry or high standard of morality in
4 citizen, without future To make him
good citizen, u blessing to his family
and society, man must be able in his de-
votions, truthiully to say in reference to
temporal us well as spiritual matters.
" We thank thee, o. Lord, that we are
still prisoners Of hope" Without this lie
sinks below the rank of Il dronc in the
hive of socicty-with it he may become
wealthy and useful.
Having thus, as we think, shown that
it will be to the interest of the creditor,
and for the good of the country that all
debts contracted before the lst day Of
June, 1868, in case the debtor had not. a
suilicicncy of property to dicharge his lia
biiities without leaving his family COM
parativoly destitute, should bccompound-
ed at once upon liberal terms without in
curing costs, the inquiry arises, why may
it not be done?
When a merchant fails in business from
error in Judgement in conducting it, or
from reckless speculation outside of his
regular business, if there be no charge OF
fraudulent conduct on his part, the gen
cral rule between merchant and merchant
lis. to compound Immediately, the credit
ors allowing the debtor to retain, not only
such property as is exempt under the in
solvent law, but also, Il sutiicicncy ofprop-
crty besides to put him on his feet again
and make him IL prisoner Of hope. Why,
earnestly ask, should not the like rule
of conduct obtain toward and among
those who have been engaged in agricul-
tural pursuits, and who owe their present
circumstances to the action Of govern
mcnt and not to any fault Of thoir's?
Is it true that the vocation Of q mer-
chant is moro important to the country
than that Of the farmer or planter; or is
it true that there is anything in the voca-
tion OF merchant better calculated to
liberalize it's follower than there is in the
noble and independent business Of study
ing and developing the productivcncss Of
mother Garth ] trow not.
In what l have said to you do not
mean to be understood rs having intima-
ted, in the romotcst degree, any opinion
as to what extent, if at all, contracts
based in whole OF in part, upon slave
property, have been affected in law by
the action of Government in abolishing
the institution Nor do | mean to be un-
dcrstood as intimating that there are not
many debts, whore the debtor is amply
able to respond, looking to the origin OF
tho credit given, which may not be com,
pounded upon principles of natural
equity" without dishonor to the debtor
or creditor. I do, however, desire it to
be understood that, in my Judgment, "a
universal reputation of debts" even ii
allowable under the Constitution of the
United States and the Constitution of the
State of Georgia, would be both unwiso
and unjust. Reputation is one thing