Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1866-10-04

this but full and complete reputation of
all debts, using only the term bankruptcy,
instead of reputation. The only difference
was, and is, that iu the former, the debtor
absolved himself by rendition of his
whole estate, whilst now, he is willing to
pay from and out of his estate due pro-
portion of it to bis creditors, so far as he
has received credit upon his remaining
estate, cutting off as much of his in.
debteduess as would be the proportion of
credit granted him upon his negroes and
other property destroyed. This is all aud
no more Is this reputation l am sure
it is not You may call it what you please,
it amounts to the same thing. The debtor
is perfectly willing to pay from and out of
bis remaining estate, all that could have
been taken from him in equity whilst he
was seized and possessed of the whole.
Therefore, as his slaves are gone and part
of the value of his land and other property
in proportion, hold, iu strict justice, that !
the creditor must submit to his nsisf fortunes
as we'll as others. .s- f-'
Now 10 order that may be fully under.
stood, l will suggest one or two examples
which will serve for thousands of,similar
cases, viz: We will say that A owes B ten
thousand dollars; B was in possession, at
the time the debt was made, of twenty
thousand dollars worth of negroes-the ball"
suce of his estate was in land and other
perishable property, to the value of ten
thousand dollars Was this debt not made
as much upon The faith and credit of his
negroes (and by far the most) than upon
the land and other perishable property
Surely it was. I'll venture all that am
worth, that had it not been for the negroes,
A never would have loaned the money. No;
B never could have smelled it. Now since
the negroes have been taken away from B,
where is the justice or equity 10 AS claim.
ing his ten thousand dollars, when his debt
or's props have all been taken away from
him? l can see no shadow Of right, nor
is there any; and in law and equity, based
upon the common sense of right, A could
never claim one dollar but his proportion.
If he does, he must be monster hardly
human. 81
Again; there has been great deal said
about the widows and orphans of the coun-
try being ruined and broken up if such
and such measures be adopted Be it So;
they may as we'll take part in the casualties
of the times as The widows and orphans of
those brave men who went and faced the
belchiug cannon's mouth, sacrificed their
lives, lost their property and fought for
their couutry's rights Gas they tbought) but
particularly to save the property and estate
of these widows and orphans who seem to
engross the whole sympathies of avaricious
creditors. May not the former widows and
orphans do without part Of their comforts
as we'll as the latter without any, who have
in innumerable cases lost husband, father
and brothers, and nearly all but mere
plttance, to subsist onY am sure that the
latter have as high. claims upon the public
sympathy, as tho former can or ought to
have. ..,, 80.
Now here is another case of vast magni-
tude for our consideration, viz: The
stockholders of banks and all other incor-
porated companies, and particularly that of
the banks and railroads, who have, in part,
exhausted their whole corporate capital, or
nearly 80, for, as they supposed, the good of
the country-what is to be done with them7
The stockholders of the banks have been
laundering at the door of your capital for
relief from under their charters, and the
railroads are grinding every body who uses
them to powder for high freights; taking
every advantage they can of the dear peo-
pie who they mainly courted to induce
them to grant them corporate privileges
which they assured them would be great
blessing, &c. tSo. The stockholders in
banks desire to be released from their liza
bilities under their charters, 80 as to be
freed from the payment Of their debts but
don't ask that you and I may be relieved
from our indebtedness to them either as
stockholder or private individual. Oh,
what hollow hearted set of men! They
would be freed but make slaves of you
Now, gentlemen | for one, knowing that
all such institutions are at war With the
best interests of the country, and nothing
less than set Of swindliug shops, do most
solemnly protest before the great sanhedrim
of heaven, and in behalf of the sacred
rights Of the people, against the charter
ing of any such machines in the State, but
would recommend that the Bank of the
State of South Carolina be chartered with
as many branches as may be necessary, with
a capital of ten millions of dollars, with
such checks and balances as may be neces.
sary to guard the action of the Presidents,
Cashiers and Directors, as will keep safe
the public funds, 80 that after the contiu-
gent expenses of banking be betrayed, that
the net earnings of the bank may go into
the treasury of your State to free you from
taxation. This would be of some benefit
to you, me, and everybody else. Yes,
I'll venture to say that in five or ten years,
you would not see tax collector in the
country, as the proceeds would not only pay
all taxes, but would furnish means for
opening rivers, ezcavating canals, grading
roads, building of rail roads, and all other
public improvements that might be neces.
oor1 for tho nuhlic ooo5 Away then with