Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1868-04-08

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noble task.
Meeting for the Settlement of the Debt
Question.
On Monday lost, in response to the call Of the
Committee appointed, by the Meeting held in the
carly part of March, to prepare Report propos-
ing some acceptable plan for the settlement of old
debts our citizens, from all parts of the District
aocked to the Court House.
The Meeting was extremely large in numbers
and very earnest in spirit and intent. At the time
the Report was submitted, the great Court Room
was densely t6ronged. The approval and adop-
ton of the Report was most emphatic and unani-
nous.
Below, will be found the proceedings Of the
meeting, as we received them from the Secretary.
The meeting was organized by calling Ex-Go
P1ckEss to the Chair, and appointing J. II. MIxs'
Secretary.
The Chairman, after Succinctly stating what
had been done at the previous meeting, read tho
following Report of the Committee:
COMPROMISE SETTLEMENT OF DEBTS.
The Special Committee have had under consid-
GRAFTON the matter submitted to them by the gene
raj meeting held Sale-day in March, at the Ma
sonic Hall, and beg leave to report as follows:
According to tho Census, the District of Edge
field had in round numbers $4,000 slaves. These
at valuation Of $500, for which they sold before
the war, would be eleven millions FIVE hundred
thousand dollars (sl1, 500, ,ooo). This was consid-
ered safe and stable property, as much so as any
thing held in the South, and it was all swept of
by the results Of the war, and the acts of the gov
ernment. Tho whole population went into the
war with er thusiasm, and are equally responsible
for it. We have no data upon which to estimate
tho capital vested in stocks and money to be
loaned out, but there is no just reason why those
who held notes or bonds for money, should not
loose any thing from the face Of the notes or
all, should be paid up, by forced sales. dollar for
dollar, while those who owned land and negroes
should be entirely sacrificed by war, in which ali
engaged alike, and for the consequences of which,
oil should suffer equally. Land has been reduced
in value to almost nothing when forced to be sold
% osder to pay money bonds, notes and mortgages.
The labour that made them valuable has been
abolished, while most of our taxes are raised upon
land, and note and bond holders are comparative
ly but lightly taxed. Now We think it but proper
and right that community thus situated ought,
as just and patriotic men, to come to some fair
and equitable compromise by which the sOttle-
ment of debts should be made. AS neighbor', as
follow citizens raised up together in all the walks
of life we owe it to ourselves, to justice, to honor
aftor our terrible calamities, to make r fair and
friendly adjustment: of all our debts, and thus set
an example to other Districts in our ruined and
disheartened State, so they can see that the Dis.
trct that was amongst the first to lead of in the
war, as band of brothers, was the first to show
that we still band of brothers, and that bravs
men are always just and magnanimous.
We would therefore respectfully recommend to
tho people of Edgofeld District, that all notes,
bonds, mortgages or.dcbts now held, involving any
consideration, or based upon any obligations in
Cured during the roco-t war, from lst Jan. 1861
to the lst of May 1865, shall be adjusted and tet
tod upon tho basis of gold standard ut the date
of tho contract or obligation, and then placed upon
an equal footing toith deb. before the ,ear.
We further recommend that all notes. bonds, or
monieI obligations of any kind made or executed
prior to 1st January 1851 with interest, shall be
reduced to tosntyfr cents in the dollar, and paid
in currency.
We earnestly urge the general basis of settle
mont to be made by all our noghbOrs and fellow.
citizens and whenever it is not agreed to, then we
recommend that it be submitted to IN arbitration
of three or fve man as the parties may agree
upon, and the whole matter referred to these for
full and final settlement. This would relieve us
all from the heavy expenses Of litigation in our
Courts, and before mixed jurios, composed in part
of our former slaves It is well known that the
expense of litigation, under the general distressed
condition Of our country, will consume in most
cases two-thrds of the debt recovered, and flard
b, forced to pay it, that tho sale Of land now will
not poy The other third.
We therefore think the compromise We propose
to our feow-citzens will be better for both credi-
tor and debtor.
As to settlement of debts due by Guardians to
Wards, or by Administrators and Executors to
widow, and minors, We would respectfully recon-
mend that all such bo made upon the same bnsis,
except that an arbitration be mado by thirteen
good citizens chosen by the parties alternately,
and that their settlement be presented to the Court
on petition, praying that the Judge or Chancellor
shall confirm the sume.
We present the above basis of settlement to our
fellow citizens, and trust that it will be adopted
and ratified by this meeting as the sentiment OF
EdgefelI District. If generally acted upon and
acquieaced in, we hops it would to some extent,
restore confidence and give new s:imulusto to indus
try, because most OF Us would then feel that there
was some hope for support to be secured, by hone"
labor and ,Oorthy enterprise. All of which is re-
spectfully submitted.
J.A. DEvORE, CHAIRMAN.
F.w. PICKENs,
M. FRAZIER,
JULIUS BANKS,
G.M. YARBROUGH,
NJ. W. CLARY,
THoS. D. REESE,
A9RAM JONES,
3. C. BRYAN,
WILLIAM MOSS,
W. L. COLEMAN,
Committee Of Eleven.
The Meeting was then addressed in m able and
eloquent appeal by DR.. ]. A. DEvoRE, in support
Of the Report.
The Chairman then submitted the Report for