The tri-weekly standard. [volume] (Raleigh, N.C.) 1866-1868, 1867-10-17
For the Standard.


MEssRs. EDITORS Much as we need re-
construction, bad as is the political condi-
ton of our State, it falls far behind the anx-
iety and confusion prevailing among our
people regarding the pecuniary claims and
Obligations existing at the commencement of
and entered into during the war; 1t seems
| unjust to require the man who has lost very
heavily OF his property without any fault OF
his own to pay all his debts, and equally un-
just to require the holder of the debts to
lose all. Can no scheme be devised which
will obviate these difficulties Total repu-
diation or extinction will not do, for impor-
tant and evident reasons. Relief by bank
ruptcy is also open to very serious objections.
1t appears to me, that the plan proposed
by one of the candidates for Congress in this
district at our last election is the simplest
and most effectual that can be devised, viz !:
to submit every mans indebtedness to a
scaling process based upon the war and its
results. Thus--let every man who has lost
by the war and its consequences file sched-
ule of the property and its value owned by
him at the beginning of the war, and also,
of the amount of his debts, both to be prov
ed by bis oath, and such other evidence as
might be deemed necessary; and let him file
also schedule of the property and its value,
owned by him at the close of the war, or on
the 1st of January 1866, and scale his debts
down pro rato, till they bear the same pro-
portion to the value OF his property after the
war as existed before.
By this plan the people would find their
claims and liabilities arranged on the most
equitable basis, and adjusted substantially as
they were at the beginning of the war;
Whether this could be done legally or
constitutionally is question 1 am not COM
petent to decide; but of its manifest adyan-
tages l entertain no doubt. 1t would not
reduce the widows and orphans to absolute
penury, as reputation in very many cases
would unquestionabIy do. 1t would not
perpetrate the paipable wrong of allowing
man to hold land, and rendering utterly
worthless the notes given for it, on which not
one cent had been paid, as repudiati0n would
do. 1t would be simple and cheap, not requir-
ing the expenditure of considerable sums in
costs and fees of Court, and then force the
property into market, where there are none
or very few purchasers, because few are able
to buy to any great extent; it would not
thus tritter away in expenses and sacrifice
much the larger portion of an estate, as a
passage through bankruptcy will do. 1t will
not force men, reduced by agencies entirely
beyond their control into Notorious and hui
initiating insolvency, as bankruptcy will do.
1t would be simpler, cheaper and fairer than
either of these.
1t has other recommendations also. It
would apportion fairly among the people the
losses of the war, making all bear part; it
would be just, because whilst no creditor
would get all his claims, none would lose all !;
in short, it would be general compromise,
fair and just to all. Finally, it would visit
to some extent righteous retribution upon
the merciless harpies, who speculated upon
the necessities of the people during the war,
and invested their unholy gains in the pur-
chase OF property, and by compelling them
to give in their investments, deprive them in
whole or in part of the benefit of this seal
ing process to their debts.
What think you of it2
81. ' ,ALBEMARLE.