The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1866-02-05
The STAY Law.


There is no end TO differences and difficulty
about the Stay Law The House of Delegate
on Saturday exhausted no little time upon Il,
bin staying executions for hmi'eo ',"'
There were several motions 10 amend o"'a ~"
of which was successful But amidst III :"
variations uron the theme. we think the con
sentative party Will pre'ah III ,.,i.
through bin protecting. as well Is Pose'''
,ho RIGHTS Of creditors while giving somerfh'
10 debtors 1t is decided that no pao'.''o
.,,,r,c,rr, d.h,s contracted since the I'd Apr
viii ~ n,ssed. This was settled by a lare'
M, ,ori.v upon a motion 10 subject those debt
To the operation OF the law
7, has been the opinion Of many men
sonna minds that Stay Laws were OF yer.
nt,i, advantage and productive OF mucn evil,
/, very Questionable whether it were no
heller 10 leave the debtor and creditor Il
manage their own affairs, under the impres'
sion that the force of public opinion as well A.
the interests of the community would WORK
much better protection 10 the debtor than laws
which divide the creditor from the commn-
nifty and nv assuming that he is crnei anc
RELENTLESS. naturally occasion some feetihS q
yindictiyeness in minds 10 which such u se"'i
uent had otherwise been astranger.
4
nnd overrate the terrors Of the pressure OF
financial COLLAPSE and Immediately 10 pTepar.
for defence against the creditor class. lnde'
this condition of feeling, the General Assembi,
has always been importuned on every suci
occasion 10 ,ptcrpose the shield Of = stay law
between the 80 called wolves ana the sheei
And that body rs Invariably yields 10 th'
,u,portuuity The Stay Law blocks the game
sta,s and stops every thing trade and trust
commerce and confidence. paralysis ensues'
NOBODY pays anybody; money ceases 10 circ"'
late because the chief conduits of It's circnia'
ton are stopped In this way pressure Il
prolonged. and the ultimate Indebtedness o.
the debtor class is accumulated SO lhaI "hei'
at last the Stay Law expires thereis often NJ
Increased ability 10 meet a considerably
increased liability.
Even now, "a helpless and penniless as TIT
larger part of the community OF the South j.
we incline TO the opinion that IL the TWO classe'
sought 10 be protected and governed by tn
Stay Law were let alone, they would get alont
quite as we'll without "A Stay Law Class iegis-
la,ion is dangerous, and often highly demora-
lzng II is especially 10 be deplored IN tn
cases Of stay laws whi,h are so invidious rs
agiinst the creditor class. SO far from being
the harsh and unfeeling people they are as
sumed 10 be, creditors are, beyond DOUBT
generally AS kind and forbearing as any othel
class, and rs much TO be trusted In all matters
involving the considerations of humanity
Further than this, they have deep interests IN
the community, and if by forbearance they gee
that ultimate solvency can be the better IN
sured, who believes that they would refuse tc
e,tendity The world is governed too much
Butwe repeat the old remedy-quack though
il be-of n Stay Law is demanded, and vii
b. applied Therefore 1t IS gratifying 10 kno"
that Il very conservative feeling prevails IN th'
LEGISLATURE, and we are sure that the law thai
will be passed will be the least Objectionable
that could be framed.