Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1870-04-26
For the Spectator.
Relief"


Mr.. EDITOR The newspapers throughout
the State contain many articles in favor OF
what is called relief to the debtor classes
The general idea seems to be that the Legis!a-
ture should provide by law, that property
should be sold, under execution, unless it will
bring something like its value.
AS matter of morals and OF equity betlCeea
man and man, this may be all right, and it
would be q very desirable thing. if BY agree
naent between creditors and debtors this rule
could be adopted
But az a question Of la,oi it is impracticable.
1t has been tried and failed The Constitution
of the T. S., which is the SUPPER me law Of the
land, and erTides all State laaos and consti-
utions aohicb come az conflict U:th 1t, provides,
that no State shall "pass any law irnpairing the
obligation of contracts. =
In 1872 the Legislature Of Illinois passed a
! law, exactly like the one which it is proposed
that the Legislature of Virginia should pass,
| viz that no sale should be made of property
| levied on, under an execution, unless it should
bring two-thirds OF It's valuation according to
the opinion Of three househoders.
| The validity of this law was tested in the ..
s. Circuit Court of Illinois, and upon a certif-
cate OF division between the Judges. the case
went to the Supreme Court of the T. s. and
at the January term 1874, it was considered
and decided.
| The case was that Of McCrachen VS.. Hay
ward, and will be found reported in End How
| ard, COS. The Court was unanimous in its
opinion. The purport Of the decision, as ap-
pears from the abstract of the Reporter, is in
these words: "a law of the State of Illinois
providing that sale shall not be made, Of
property levied on, under IN execution, unless
it will bring two-thirds of its valuation, accord
ing to the opinion Of three houseiolders, is
| TIN OArCT nTrnF( IT g.lJF
This decision settles the matter Of relief ir
that form, beyond all controversy So.
Is ii not, therefore, idle, to tautalize people
with the hope OF relief which earnot be af
forded? Any attempt at relief Of this kind
will certainly prove de!uslon and snare. L
the Legislature were to undertake, in defiance
of the Supreme Court. and If the Constitution
of the U. s.. aohich hey haze sacorn TO support
to pass such law, as seems to be desired By
many, it would. promptly. he decided to b.
unconstitutional and void, even by cur STATE
Courts, because they are bound 70 respect thu
Constitution Of the L. 5.
The only hope Of relief to debtors is, by az
appeal to the sense Of justice aupl lind feelin:
OF their creditors They mus. nv and make
the best arrangements they can. for gradua
liquidation OF their debts. Aud although it i
fashionable With some to cry out about eZtor
ton, gripping. grinding the faces oi the poor
'ShyIock creditors, &c we are persuaded
these are exceptional cases There may b
some bad men who may be disposed to US,
their power as creditors 10 Cypress their deb
tors but we are happy to say, that in nins
cases cut Of ten, no such feeling ani,nates cred
tiers as a class. A very large proportion O.
the suits that nave been Instituted in our coun
ty, were brought with nc sueh purpose. |.
most eases, the object was to render the debt
secure By obtaining Judgment liens. Thi
having been accomplished, most creditors will
be disposed to make fair arrangements Will
their debtors
It might not be uaproil able to enquire how
far the cutlery about relief aud Reputation ma,
have Stimulated creditors IT, adopt stringen
measures for the collection ef their debts I
is said, by leading London journals, that tn
movements in Congress locking to partial re
pudiation, have seriously affected the credit O
the =. S. and the market value Of our nationa
bonds. A ike cause will doubtless affect tn
credit of individuals. Capital is proverbial
timid, and credit is sensitive plant; The barr
suggestion Of relief measures !lsplEes distrust
and causes all who hold boads 10 sue on them
and seek to collect or secure them. Indiscree
advocates of Illegal forms Of relief, therefore
by their mistaken action aggravate the yer,
mischiefS which they desire to avoid x.