The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1866-09-04
THE DEBTS OF THE STATE AND OF
THE PEOPLE.

THE PEOPLE.
Important as the political status Of this State
I and of the South is,-invoving the future lib
critics, the peace and prosperity of the people,
it excites but little interest among them, com
pared with the pressure, encouragement ano
intensity of feeling occasioned by their pecu
| mary condition. The Indebtedness of the State
of the Counties, and of the people, is positively
overwhelming to those who scan closely the
enormous amount, compared with the meagre
means left to pay The loss of property in
slaves, the destruction Of stock, buildings and
| fences the utter loss of Bank and State securi-
! ties, and the reduction in the value of lanes
real estate and other investments, seem to rem
der the condition hopeless. Yet, such is the
1 recuperative energy of our people, Injured to
struggle with difficulties OF great magnitude,
that if, added to these losses, the State and the
| people were not so deeply IN debt, We should
look for speedy prosperity.
But this only presents one view of the obsta-
cles in our way to progress. Large numbers of
/ the blacks, many Of the men, and the women
almos: entirely, who used to perform field labor,
have abandoned it, and either do little or no
work, or that kind of work which adds nothing
to the productive means of the people. One
third, at least, Of the colored laborers Of the
State, who were formerly producers, are now
wholly consumers Many of our white people,
who formerly directed labor, it is true now per-
form the task both of director and laborer, yet
the large number of non-producing whites and
blacks renders the soil less productive and con-
sequenty affords far less real wealth than before
the war. Add to this, the enormous Federal
tax which is being collected which cannot be
short the present year Of one and half to two
millions Of dollars, together with only the abso-
IT, c.
the machinery of the State government in oper-
alton, and it will be seen, at a glance, how op-
presslve and destructive it must b. to force the
collection of debts, either State, County or in
dividual.
Under such circumstances, no considerate
person can look forward to any short period
when the State and County taxes can be laid for
any sum greater than the absolute necessities Of
the State and Counties require. This is mel
ancholy reflection to those of us who desire the
speedy revival Of the Common School system
the speedy prosecution Of works Of internal i'm
provement and the reduction of the State debt.
No legislator will he sustained by the people,
who advocates, at this crisis, the imposition of
high State taxes anG the extension of State
credit.
In regard TO personal Indebtedness, our pco-
pie must learn to be patient and forbearing to-
wards each OthCr. Ihe relief proposed to be
effected by the Stay law, which requires the full
payment Of executions in FIVE years, can only be
very partial. Indeed, it is apprehended, that it
will inaugurate general system of suing which
must operate very oppressively, in the long run,
upon the great body of debtors. We trust,
however, that the we'll meant object of the Con-
vention in it's passage will not be thwartcd-
We need Cancellation and forbearance nay,
more, creditors must learn to commserate the
condition Of debtors, and agree 20 such compro-
mise and accommodation as will enable them to
olive and let live
No other plan can be devised to save the
honor and credit of the people and the State,
than the one we have heretofore suggested -
Debtors and creditors, before taking advantage
of law tor'or against, should meet and compro-
mise their Indebtedness Under the circum-
stances, no man should be required to pay the
full amount of the indebtedness he incurred
while il possession of ample means to pay, since
those means have been violently taken from him.
Mutual Cancellation and good will, a lded to the
disposition on the part of the debtor and creditor
to do justly and mercifuly to each other, are
all that is needed to afford relief, and, at the
same time, encourage our people in their efforts
at recu2eration and progress.-Ral. Sentinel