The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1868-04-22
Meeting for the Settlement Of the Debt Cues
ton

l.. An extremely large meeting was held
in Edgedeld, says the Advertiser, Mon
day the 18th. An earnest and intent
spirit prevailed and the report submitted
by the committee, met with emphatic
approval. Gov. Pickens, being called to
the Cl.air, and j. IL. Minis, appointed
Secretary, the report was read, the prin-
cipal features of which we. lay before our
readers. The report goes on to say there
is no just reason why those who held
notes and bonds for money, should not
lose any thing from the face Of the notes
or bonds, and that the whole amount,
interest and all. should be paid up, by
forced sales, dollar for dollar, while those
who owned land and negroes should be
entirely sacrificed by Il war, in which all
engaged alike, and for the consequences
Of which all should suffer equally. Land
has been reduced 10 value to almost unt =
ing when forced to bc sold in order to
pay money, bonds, notes and mortgages.
The'iabor that made them valuable has
been abolished, while mrst Of our taxes
are raised upon land, and note and bond:
holders are comparatively but lightly
taxed. Now we think it but proper and
right that community thus situated
ought, as just aud patriotic men, to come
to some fair and equitable compromise
by hich the settlement of debts should
be made. AS neighbors, as fellow.citi.
zens RAISED up together in all the walks
of life, We owe it to ourselves, to justice.
to honor, after our terrible calamities, to
make a fair and friendly adjustment Of
all Tour debts, and thus set an example to
our ruined and disheartened State, so
they can see that the District that was
tie first to leap off iii the war, as band
of brothers, was the first to show that
VIC are still band of brothers, and that
brave men are always just and lnagnani"
nous.
We would therefore respectfully recon
mend to the people of Edsefeld District,
that all notes, bonds, mortgages or debts
nov held, involving any consideration,
or based upon any obligations Incurred
during the recent war, from first Jan.
1861 to the first of May 1865, shall DC
adjusted and settled upon the basis of a.
gold standard at the date Of the contract
or obligation. and then placed upon an
eqnal footing with debts before the war.
We further recommend that all notes,
bonds, or monied obligations of any kind
made or executed prior to lst January
1851, with interest, shall be reduced to
twenty-five cents on the dollar, and paid
in currency.
We earnestly urge the general basis
Of settlement to be made by all our neigh
bors and ow-cltizens, and whenever
it is not agreed to, then we recommend
that it be submitted to an arbitration Of
three or four men as the parties may
agree upon, and the whole matter re-
ferred to these for full and final settle
ment. This would relieve US all from
the heavy expenses of litigation in our
Courts, and before mixed juries, COM
posed in part of our former slaves. 1t is
we'll known that the expense of litigation,
under the general distressed condition of
our country, will consume in most cases
two thirds of the debt recovered, and if
land be forced to pay it that the sale of
land now will not pay the other third.
As to settlement of debts due by Guar
dians to wards, or by Administrators
and Executors to widows and minors,
we would respectfully recommend that
all such be made upon the same basis.
except that an arbitration be made by
thirteen good citezens chosen by the
parties alternately, and that their settle
ment be presented to the Court, on Pc
tition, praying that the Judge or Chan
cellor shall confirm the same.