The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-07-21
IstlIef for the I,coplr.

'hc present pccuniary condition of
the people Of this State:
The aetiono of the Court of Errors
III annullinS the stay law has created,
In some sections OF the State, quite i
panic or the Indebtedness OF the Deo-
pie. tt scoms to be feared that the
creditors viii every where levy upon
and sell tic lands OF The debtors, and
that Il large portion Of our population
will become torisfannliated, and ''scnt
INTO this bseGthing world without q
roof to shelter them. In This District,
our citizens are rs calm as il the stay
law WAS still III force. We think here.
that public opinion viii so discounte-
nance every appearance Of oppression
10y creditors, that the debtors will be
AMPLY protected. The L-gisl.t,,re
viii, 1t Is said, ',r called together bv
the Governor, ns- soon as Congress
adloHrns;~to make laws adapted to
the new condition OF the country.
What that new condition may be, we
cannot now altogether forcsec. But
while the Legislature is in session,
something may be done for the relief
OF the unfortunate debtors, who have
lost property by emancipation and
the devastating hand OF war. Tho
credit Of the State is good, and it
would he well TO negotiate Il loan of
some millions, as was done for re-
building Charleston. after the great
tire i4"d consumed Il large portion of
1t. about thirty yca4 ago. -Messrs
BarlnS, Brothers x Co., of London.
lent the State, through the agency Of
t;le Hon. George McDDtiie, 81, COG
600 on thr bonds of the State, at five
per cent. interest; FOR the payment Of
which !:o profits Of the Bank uf the
STATE ii SOUTH C.lrriinu we.> pledged
;t> Il security. Such u loan ,nav be
procured rcAv. ard the Stat. wcnli
incur thereby no risk; for tic money
could '1r len; o;t to farmers. manu-
iact;reE~ and 10 men engaged liz
commerce. Oh the most accommodate
ing terms and on the hest s..c;lritv to
the State. Mortgages OF real estate,
with ~ wiiilout persolu;l security.
wo';ld make lean, hv the State to en-.
terrriSins in)Iivid'nls perfectly safe.
Let t.l!s oe done, and Soufl. Carol;,:a
would leap forward II once on the
road TO prosperity IN agriculture,
commerce ana manufactures The
labor of freedmen cannot he rylic.; on
Tor the production Of large crops OF
cotton and rice, ;ls in the days gone
hy, ard the wealth of tho State will
hereafter he in different cllnnucls-
much to orr advantage and to the
ruin o: the negro, who has, in truth.
"hc.n freed to DEATH" Us some one
has Very forclbly said Many persons
III tins District have been compelled
to abandon large portions Of their
crops on account Of .;:c dcfalcation Of
the freedmen in The performance Of
th"ir contracts IN the Vicinity Of
Society Hin, In this State. 100 ;:crcs
o.! one p!untation and $50 acres on
another. have IN like manner been
aoandonel.
It las been suggested that, as the
Scripture is authority for :, wear of
release. every seventh Year. among
the Jews. We have the highest
sanction :orna!:inS this u year oi gene
raj discharge from all debts, espe-
c.i1iv rs most of the debts now due
were contracted on the bass Of slave
property, or in the purchase Of slaves,
which the lawles>. relentless: ana lia-
hpAcaI bosom % emancipation has
forever swept away. But it must IL,
i"mcmhercd th"t release every seven
years was :; part of The Jewish poll
cy. 10 which th~ir business and tiran-
riGi operations adapted themselves, rs
We adapt nl:v afaiyS 10 the cxis.in~
statute o. limitations, which is a re-