The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1866-10-04
RELIEF mo- DEBTORS.


The mountain has labored, and in our opinion
brought forth mouse. After some weeks, spent
in frothy defamation in which the State and Fed
eral Constitutions were thoroughly ventilated our
Legislature gave US, as relief to debtors, On act
suspending the Sessions Of the Court of Common
Pleas. for one term. We are notin favor Of credi-
tors pressing debtors at this time, and we are in
favor of every measure CT relief for the debtor con-
sistent with equity and good conscience. But we
maintain that the measure adopted is no relief at
all; in our Judgment it is well calculated to ag-
gravate the feelings of the creditor, as it will ex
cite his suspicion, that his debts are to be Ultimate
ly repudiated, by destroying, or indefinitely post
poning his legal remedies for their collection, and
impel him next Spring to sue his debtors indls-
criminately. Every law passed by the Legislature
tampering with contracts between man and man,
destroys confidence between them, which is worth
all the stay laws that ever can be passed. and when
confidence is destroyed legal remedies Of course
are sought. We sympathise with honest debtors,
and it is evident that most of creditors do, or why
is it that nine hundred old executions are now y-
ing in the SherifFs Office of this District, unen-
forced. The stay law, from its inception, was IN
unwise one, and but forts passage one half of the
Indebtedness, which now hangs over the country,
would have been paid off during the war. A class
of men who kept out of the war, took advantage of
that law, accumulated wealth by speculation, and
let their debts run on Those same men, to-day,
instead of paying off their debts, are using their
money in speculation, attending sales, and buying
property. Such men should be made to pay. If
the debtor can be forced to pay next Spring, in
what respect is he bettered by delay of six
months Can he raise the money then more readi-
ly than now? We think not, for money is always
scarcer in the Spring than it is in the Fall But our
Legislators either do not comprehend the true
condition of the country, or else they resolutely
shut their eyes to it. Now, the truth is the coun-
try is hopelessly bankrupt, and legislators should
accept the fact, and act accordingly. The man
who expects the Indebtedness of this country to be
discharged in full, is doomed to disappointment.
1t cannot now, and will not be able for fifty years
to come, to pay more than fifty per cent. The
debts which have been inherited by this genera
tion were contracted upon the security of negro
property. That property has been swept away,
and the debts remain with no property left ade-
auate to their payment; and what hope is there,
that our people can ever replace the four hundred
and fifty millions of negro property that they have
lost? Absolute none. If, then, men cannot pay,
what good will stay laws do them? There will be
no safe basis for business transactions until there
is general settlement. No man knows what he
is worth-no man knows who to trust. The sooner
therefore that the indebtedness Of the country can
be adjusted, the sooner will confidence and prop
erty be restored. Men cannot pay their debts II
full, and they should at once pay what they can
and take new start. To afford the best measure
of relief to debtors, as well as to give any value t.
their action at the late Session, the Legislature
must go forward, and pass liberal Homestead ant
Bankrupt laws. In the latter law, after permit
ting the debtor to retain enough of his property t.
keep his family from suffering, we would ALLOW
him to surrender his property to his creditors ant
be forever thereafter discharged from their de
mands. If forced into bankruptcy, the debtor
could then 60 to work with some heart, to take I
new start Creditors, in view of this law, would
we imagine, prefer to waitwith the debtor, and lie
him pay as he was able to receiving five cents OF
the dollar, in the bankrupt court, and have thei
claims forever barred.