The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-09-26
iron THE CHARLESTON DAILY NEWS. |
TiIE STAT Law.

- | "hoSi Auc CupltOn OI ''SlAy law'-wlla
business men think-and advertised by Won To l,ny
oeeh written by an Intelligent merchant.
was pleased to see that the views of Tho writ.
did not meet with your approval am reioiee,, II
Know TINT at least ono of our metropolitan paper
mas q just appreciation Of the condition of ON
people, and oil tho necessity Of extraordinary cris
iatton for their relief and protection. II la,
struck mo rs something singular that, 40 far n,
tno charleston influence has been felt in RELATION,
70 measures proposed for The relief of the people
ance the closo of the war, it has boon uniformly
"saihs. SUCH measures. "Snblimatcd mora lit "
heh ana business men" have alike a-raycd them
Se"e' ih hostiiltS to overy proposition 10 remedy
OF aiovatc tho financinl evils CONSEQUENT upon tho
downfall OF Tho Confcdcracy Charleston has stoo,
forward as u hard, merciless creditor, exnctin.,
tho last dollar, antl upbraidng tho helpless
aeotol with dishonesty OH account of his in
! ap,Ity TO pay. Now, this attitude OF our
| metropolis, II not hor true ono, liz tho ono
IN which she has been paced by those who
have spoken for her. She has been in favor Of
Letting tho Law take it's course," of suing by
Wholesale. and bringing the property OF the peoplc
TO the block to be sacrificed -literalIy soti for
holding. And this is advocated as q wise policy,
and all opposition to it characterized IA stupid
Dufihg Tour years we had ''stupid" Legislature
| followed by a ''stupid" Convention, because tho
1
Law-so says Now York uurrlunt q sriLorn,
New York merchant" This is certainly high
compliment to tho lawmakers and constitutions
] makers OF South Carolina, and your correspondent
scoms to have returned thanks for il. This gem
| tleman, who, ii appears, undertook to enghtcn
| 'businoss" man Of Charleston on the subject of
| Stay LAWS, sail 'Your Stay Law and the pro-
pensity OF your people to proong credit in fact To
postpone Payment as long rs possible. is tho real
cause Of capital bcing shy Of making Investments
i'll Your State" He then proceeds to tell your
respondent what WAS the course Of business before
the war, the slowness Of our merchants in paying
| up; asking indulgence because thor customers
would not meet their liabilities ut tho ond of the
year; that il sued it required eighteen months to
| get Judgment; that such legislation was fraud
upon business men, and an 'sincubns on trade"
| &C., &c.
] / propose to examine both the facts and the
! logic OF this New York gentleman, and to show
| TINT he is mistaken in the former, and that he
either docs not understand or despsos the uso of
| the latter.
| In tho frat place, let US ask how the Stay Law
has caused capital 10 be 'shy Of seeking invest
! ments in your State" Did he mean that the Stay
| Law prevented capital from flowing into the State
| during the WARP Surely not. He meant, then,
| that since the war it has prevented capital from
oSSnih5 hfSStIhcut utIE Leu us lUuh III lnlB
proposition little while The Stay Law that is
now of force is General Orders No. 10 of General
sroKIEs, except latoly modified by the action of
the President who has directed that that Order
shall not apply to the process Of the United States
Courts. Thoso Orders prevent the enforcement of
executions only to debts contracted before or
during tbs war, but do not prevent either suing or
enforcing executions upon contracts made since
the war-tho 18th May, 1865 How is it.
then, that these orders prevent capital coming into
the State2 Is it because tho borrower cannot DO
sued and forced 10 pay it back according to his
contract2 No. "Our Stay Law" does not pro-
| hibit this. He may be sued, and execution may bc
enforced against his property just done be-
foro tho war, in tmes Of our greatest prosperity
Ono ID therefore at a toHH TO understand nom this
''liberal merchant of New York" happened to
init so great bunder--l will moi say, was 40
'stupd," ns to attribute 10 the Stay Law the fact
that capital has not sought investment here from
abroad since the close OF tho war. In making this
objection to the Stay Law, lie reminds NE very
much of the wolf when he raised quarrel will
the lamb for muddying The waters below linn. As
well might you put any two co-incdent facts in
the relation Of cause and effect, 10 attribute the
want Of apital now felt in South Carolina 10 tho
''Stay. Law" With much more reason you might
attribute tho changes OF the wind aud weather 10
Iuo "Oun oCHuukeS--u cOl1uiNh hhltTaltiVH.
But the New York friend Of your s'intelligeut
merchant" correspondent as II conscious That no
could not ma - out his case clearly and fully
against tho 'Stay Law" joins With this canso OF
our dflicultics, The propensity of orr people to
prolong credit and places upon the latter share
of responsibility. Now, with all Difference to your
"inteIligent" correspondent who made up tho
pleadings in the caeo submit that he has COM
mitted tho orror OF misjoindnr, as lawyers term
il. Tho Stay Law is tho matter in hand, ard the
propensity" OF the people has nothing at ull to
do with the caso--is quito another thing. AT all
ovonts, this propensity, according to the state
ment Of ''the merchant of Now York." existed
long ago. before the war; and when no Stay LAWS
OF Stay Ordors were dreamed Of And here arises
IN inquiry which would make: Did not our mer-
chants have good credit in New York before the
war as tinse of any other State, South? Or was
this propensity" to '.prolong credit peculiar 10
tho people OF this Slater affirm the former pro-
position, and challenge contradictions; deny the |
latter, and call for proof In reading these say
ings OF New York merchant, which your cor
respondent has paraded before tho people in
public prints I felt thatthe former had uttered
an insult 10 our people, and that the latter had
given it currency. He should hayo Indignantly
spurnod the imputation. With somo OF the fool
ing OF former times,-with spark Of that spirit
which animated our boBoms before wo had fallen
from our "high estate" he should have replied,
''sir, you insult people who. though fali". 81
pooI LheIr prlde and honesty eft the FORMER
humbed 1t is true, but the latter unsulied. They
have heretofore kept their contracts faithfully
Thoy have been fair and honest in their dealings
with the people you represent. They have never
violated their plighted faith, either in politics or
business transactions. They have sent to your
people the products OF their labor and industry,
which have built up your magnificent cities. They
| have never wronged or injured you till you tyoNr
pcoplo) took Up arns to crush them. You wagei
| against them long and bloody war, and, aftor
laying waste their country--burning their towns
and cities-fnally conquered them with over
| whelming numhers. You have set their alaves
free, and thus confscated millions Of tbotr prop
crty You have ruined and impoverished
them. After oil this had been done, and
| after thoy have laid down their arms and pro-
posed again to live in poaco and union with yon,
they hayo been spnrncd from your presence, and
tho iron heel Of military dcspotism put upon their
nccks. Tho Constitution under which you pro-
fcss to live affords no shield Of protection to thom.
Thoy are not only denied their political rights,
but wllnt little Of property is loft them is now
| threatened with oonnscation. In this state OF
things oyery branch Of industry is depressed,
| trade and commerce languish; men know not
4 kt,oJu han do 10 ali 10