Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1868-11-02
The STAY Law.

professional business, has prevented me from
noticing the communications Ia reply to my
address to you on the subject of the stay law; in
fact, see nothing whatever in either commu
nication that justifes or requires reply
The few lines [ addressed to you, fell like
bomb in the camp OF the stay law men, and
aroused a whole host Of sluggish creditors who
have been quietly reposing for the last three
wears, under the pleasing deusion that they
could enjoy the fruits OF other mems labor and
spccuate upon their property, without any re-
sponsibility whatever. They will be still further
startled when they learn thata committee OF
influential gentlemen have been appointed to
adopts prompt and pee0ymeasures to determine
before the Supreme Court whether the LeglSla,
ture.of Virginia has the legal and constitutional
right to sequeser the property OF large class OF
citizens of this State for the benefit or another
class, or to relieve them from the legal obllga-
tons towards their creditors.
The cry of these stay law men about ruined
and impoverished country Is about played
out" Let any unprecedented man traVei
through this and the adjoining counties and
observe the present condition OF things, and
he will not fail to see that the enterprise, indus
try, and energy of the people have within the
last three years, repaired tho ravages OF i
desolating war, and are now In state OF COM
narrative prosperity. The farmers are raising
abundant crops and realizing the highest prices
for the products of their labor; In fact, every
branch of trade and business IS quite as pros
porous as before the war. All it requires now
to infuse fresh confidence In the people and to
furnish the necessary capital tor the further
successful prosecution OF trade and business, IS
for the unwilling debtor to come forward and
pay his honest debts, so as to enable the credl-
tor to discharge his liabilities. These gentle
men cannot expect TO dodge much longer pc
hind the stay law before the strong arm OF
higher law will be invoked to make them re.
lax their tenacious grasp upon the properly OF
their fellow citizens. This stay law is not
political subject to be determined by the ma
iority, but purely legal question, in which the
legal and constitutional rights OF every citizen
Of this commonwealth should be rigidly OBJ
served and respected The law admits OF no
discrimination in the protection of property
and the administration Of justice. 1t is now
manifest that a few leading politicians are seek
ing to make political capital out Of this stay
law. They know this law to be popular from
the fact that majority Of their fellow citl-
zens are in debt, and they expect by their adj
yocacy of this measure, to receive Office or po-
litical preferment hereafter The interference
of prominent politicians in this stay law move
ment, the apparent indisposltlon OF the debtor
to discharge his obligations, and the ieverlsh
anxiety he manifests to have this law extend
ed, are calculated to arouse the suspicious OF
the creditor, and admonish him OF the necessity
of adopting speedily some vigorous measures
to recover his constitutional rights and secure
his property from legislative interference. do
these stay law advocates imagine that further
extension of th;s law will reopen the claims OF
the creditor or, do they hope, like "Macaw-
Der" that something will turn up" In future
to exempt them entirely from their pecuniary
liabilities? Many debtors, impelled by sense OF
honor, have come forward and discharged Their
debts, scorning to dodge behind this stay law;
although many OF them were much less able to
meet their obligations than many OF these
strenuous stay law advocates. There was
time when the press Of this country was re-
earded as the champion Of equal rights but
in this controversy, it seems 10 preserve
strict neutrality, either from motives OF policy
or expediency certainly not because 1t IS con-
WINGED Of the consttutionaity OF this law
The 'Iynchburg Virginian," alone, has come
out in bold and manly editorial IN defence OF
the rights aud property OF It's fellow citizens,
and denounced this stay law, both as rulnous
to the creditor and demoralizing to the debtor
and deprecating its farther extension. There
are now thousands OF estates belonging to WI,
0Ows and orpanS, involving a vast amount OF
property. wasting away for want of settlement,
under the prohibitory provisions OF this stay
law. Many Debtors under cover CT this law,
have disposed Of their property and lett the
State 10 evade the payment OF their debts at
the expiration Of this law; such are the damag-
ing and demoralizing tendencies OF this PERM
cious law. Other individuals sold valuable
estates Just before the war for which they have
not received one cent Of principal nor interest
up to the passage OF this stay law IN 1865 and
since that time but one years interest annually
The purchasers of these estates are now living
in affluence and ease upon this property, while
the seller is living In comparative poverty with
out redress under the law. Does any one IN
his sober senses suppose that such state OF
things will be longer tolerated without the
creditor making desperate effort to reassert
his rights and recover his property, or Its equl-
valent? The original design of this stay law
was to benefit the large planters in
lower Virginia, and not the working man and
mechanic. 1t was intended to favor particu-
lar class. and not designed to promote the
general interest of the public. The first stay
law passed In this State, was wise and liberal
in it's provisions, requiring one fourth OF the prln-
cipa and proportionate amount of interest an
nually. Had this law been sustained, these
debts would have been cancelled before this,
without inconvenience to the debtor or creditor.
The creditors are not passive spectators of the
efforts to extend this law; but they are making
every possible exerton to protect their inter
ests by enlighteniug Gen. Stoneman as to the
designs and purposes of certain parties to this
stay law extension, and, if [ mistak e not, GER
tain individuals will have to cancel their obi
cations much earlier than they anticipated
would, therefore, advise them to prepare for
this event, and remember the christian iDjunc-
ton Render unto Caesar the things
which Ciesar's," &c. JUSTICE.
LoUDDoUN Co., Va, Oct 30.
an Important Decision qmder the Bankrupt
Act-$50O IN Cash ordered to be paid to the