The weekly North-Carolina standard. [volume] (Raleigh, N.C.) 186?-1869, 1869-02-17
OLD DEBTS. !.
9ls5 iaia4l9 % For the Standard.
Mass Meeting in Lenington.0

A large meeting of the citizens of David
son county was held in the Court House in
Lexington on the 9th day OF February, inst.
On motion of Col. w. T. Henderson, Hen
derson Adams, ESQ.,, Auditor Of the State
was unanimously elected Chairman. Who on
taking the chair, delivered forcible snd
well directed speech
On motion. Levi E. johnson, Esq, was
elected Secretary. if glihi ial
eti An elaborate speech of an hours length
was delivered by David Mofit, ESQ.,. He
was followed by M. II. Pinnix in speech
of some three quarters of an hour. The
mdetlng was then addressed by COL w. F.
Henderson and Others. All the speeches
were well received by the large and apprc-
ciative audience. They showed 'conclusiveIy
that it would be to the interest alike of the
creditor and debtor, as well as OF the whole
State. to compromise, and if need be, TO
foice by legislative enactment, speedy set
tement of all old claims, Mt about rs per
cent. of the individual Indebtedness that
if such compromise was not effected, the
people would be driven into bankruptcy,
the creditor would lose all, and the debtor
he ruined. ~ e-.33a a-.9iag
The following resolutions were then intro
duced and unanimously adopted:
WHEREAS, Before the late war a custom pre-
vailed in this State among the people by which
business and trade were chiefly carried on, COM
monty known as the credit system, and by means
of which the people became largely involved in
debt; and whereas, the basis upon which this
custom prevailed, or the property which stood
as basis and pledge, or security, for the extern
sion of this system has been swept away by the
ravages of civil war, whereby the people, almost
insolvent al rendered unable to pay to the full
amount the debts thus SO largely contracted;
and whereas, it Is absolutely essential that these
old debts, which are paralyzing the energies of
the people, should be speedily settled, in order
that the people may turn thcI attention to in
dustrial and economical pursuits, and thereby
become more able to pay taxes to the govern
ment, to restore confidence among themselves,
and to ro-inaugurate prosperity throughout the
whole land; therefore, ,,,,.- r., --r,..-f4 q
Resoloed By the people Of Dauidson county Ia,
mass meeting assembled, That it is the deliberate
opinion of this meeting that all debts contract
cd before the 1st day Of May, 1865, should be
speedily settled on the basissof the debtor pay
ing or securing to the creditor 25 per cent. OF
the Indebtedness; that the interest alike of the
creditor and debtor, as well as of the whole
State, would be promoted thereby; that the
creditor would realize more money by such a
compromise than by driving the debtor into
bankruptcy by attempting to collect the whole
amount
ResolUed, That we hereby instruct our members
OF the General Assembly from this county to
vote for, and to their influence to carry, all
such measures as tend to force the settlement of
old debts upon the plan above described bgo
Resolued, That we call upon the people of the
State to call primary and county meetings to
give expression to their views on this subject,
and assist us in appealing to the Legislature TO
take prompt and effective steps to carry out the
object sought by these resolutions.
Resotued, That copies Of these resolutions be
transmitted by the Secretary to the President of
the Senate and Speaker of the House of Repre-
sentatives of North Carolina, with request that
they have them read before their respective
bodies, and that copies be furnished the Raleigh
STANDARD and Sentinel Tor publication, and that
all the papers in the Stale be requested to copy
them. sa4ajs3j gta 10 Tii!J.,i- ifiii sJ-3