Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1868-02-07

included III the exceptions, and insert f.:
contract or engagement entered into for
the purchase of real estate, when one-llalf
Of the purchase money has not been paid. y
Mr.. Graham, of Orange, said, subston-
TALLY /:
Mr.. PRESIDENT: l rise to suggest some
objections, which. if The advocates of this
measure will remove, will cheerfully sup
port it. Can we. under our oaths, pass
this law ? Is not the exception in section
l, in regard to Executors and Trustees, un-
just ? Is not the relief proposed illusery
and deception !? Cannot we accomplish
the object proposed more surely by refer
ring the matter to Gen. Candy and by uni
ting with the Virginia Convention in their
petition to Congress to extend the time in
the first clause of the Bankrupt law to re-
duce the expenses Can we not so amend
the Stay Law of 1866 as to give Judgment
for the instalment due, if not paid at the
times mentioned, instead of for the whole
amount, or give judgments for one-tenth
OF the old debts every year for ten years ?
do not intend to argue, at this time,
the constitutionality of the reconstruction
measures, but to view the whole matter
from ''loyal basis. And here I would
remind this Convention that we have been
selected as men who have never violated
an oath to support the Constitution of the
United States. All who, as officers, took
an oath to support the Constitution, and
afterwards, when the time to try mems
souls came upon US, yielded to their feel
lngs of kindred and blood SO far as not to
remain neutral in the late terrible contest,
have been excluded. Should we not pause
and consider that clause which says: "No
State shall pass any law impairing the OBJ
legation of contracts ?" But it is said that
clause does not apply-that we are not a
State, but only a territory. Was not North
Carolina asked as q Stale, to ratify the
amendment abolishing slavery? As | said
L would argue this question on a loyal ba-
sis, quote Thad. Stevens Was not the
origin Of the whole reconstruction scheme
Of Congress "to inquire into the condition of
the States which formed the so-called Con-
federate States of America ?" Was not
the first article proposed: Representation
shall be apportioned among the several
States ?" Did not Stevens say, in his
speech: &C [ hold that these States have the
right, and always had it, to fix the elective
franchise within their otCn States ?" Did
not Chief Justice Chase recognize North
Carolina as a State in his address to the
Bar in our Circuit last June
But does this measure give real relief ?
Instead of bread, does it not give stone ?
Is this the form in which the people ask
relief 4?
Mr.. President, as our power is question
able, had we not best refer the matter to
Gen. Candy, who can have his orders en-
forced ? I think that our greatest distress
comes from the U. S. Courts, and the ex-
penses connected with filing petitions in
Bankruptcy. Why not petition Congress
to change the law, SO as to better accom-
plish the purposes for which it was design
ed Why should executors and trustees be
subjected to suit, when they cannot collect
to meet the calls upon them ? Is it to the
interest of the State that all these old debts
should be compromised and settled? be-
lieve the people would prefer to know how
they stand; that the amount should be deter
mined, but execution should be stayed, un-
til their property would command better
prices, and until their industry had some
what relieved their present distress. Let
us not tri1le with them on this subject. I
do not believe that our people are dishon-
est. [ see no dishonesty, as has been
charged. when man unable to discharge
his debts in full, surrenders his property
with the exceptions allowed by law for
the benefit of his creditors. If we reduce
the expenses and make the property bring
full value and enlarge the exemptions, we
will accomplish true relief. But to do this
we must petition Congress. Let us appoint
a committee for that purpose, and so alter
our present Stay Law, as [ have above pro-
posed, and we will have accomplished more
than we can do by adopting the measure
now before us.
Mr.. Mcdonald, of Chatham, next upon
the floor, clai med that the State was in q
territorial status. He had heard Governor
1D<1~. g. l..
ago, when on the train. He spoke of Gen.
Dan Sickles as the great soldier and pa
triot, who had saved this State from all
sorts of evils, and, in the course of his re-
marks, alluded to the fact that judgments
to the amount of $25, 900 had been taken
in his county. Property was being sacri-
feed for mere song, and our own citize as
are the principal parties, and creating all
the distress. Yankees we're our friends :;
he would rather trust them.
Mr.. Graham, of Orange, asked the gen.
tleman, if it was not fact that Northern
creditors had taken Judgments in this
State, IN the Z. S. District Court to the
amount of a half million of dollars.
Mr.. Mcdonald, as reply, said he hoped
the gentleman would not interrupt him. -
Questions were being always asked to
drive one away from the main question.
dOOu, (neSTO, moved TO To-COmmlG Lu6
report to the Committee. Mr.. Tourgee
opposed the recommitment, but favored
the stay of all debts until homestead
clause could be inserted in the Constitution
of retrospective nature he was willing
however, that it should be recon mitted,
with instructions to the Committee to Pc
tition Gen. Candy to stay all debts.
A motion was here made to adjourn, but
withdrawn in order to allow Mr.. Heaton
to submit report from the Bill of Rights
Committee which was ordered to be
printed.
Mr. French, of Chowan, by consent, in
troduced the following resolution
RESOLVED, That the Committee Finance,
either in the name of this whole Convention or in
the name of sub-Committee, be authorized to
negotiate loan, not to exceed $40, 900, in order
to pay the mileage of members.
Mr. F. said he would move to suspend
the rules, because immediate action should
be taken upon it as there were some
members in need of money.
The rules were suspended and the reso
luton adopted.
On motion of Galloway, (negro,) the
Convention then adjourned until to-mor-
row, II o'clock.
THURSDAY, Jan. 30, 1868.
The Convention was called to order at II