Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1870-03-18

plished far more good than the laws
that were enacted. But the day for
this kind OF legislation is passed, while
the reason fer it, to some extent, re-
mains. The constitution prohibits it,
but the necessities of the people re-
quire it. Great l6ss and suffering will
inevitably result unless some mode of
relief can be found. ! have reflected
much and anxiously upon this subject.
and have arrived at the conclusion
that there Sre but two modes Of relief
which can, under the constitution, be
extended to those unfortunate people
who were in debt at the close OF the
war. The one may be found in the
llth article of the constitution, and
known as the homestead exemption
article; and the other is the general
power Of the legislature to prescribe
the mode and manner in which lands
shall be sold under judgments and de-
crees. The first section OF the llth ar
ticle OF the constitution provides that
every householder or head Of a family
shall be emitted, in addition to the ar
ticles now exempt from levy or dis
tress for rent, to hold exempt from
levy, &c, two thousand dollars
worth of real and personal property,
or either" BY an examination of the
exemption laws now in force at the
time when this provision OF the con-
stitution was framed, it will be found
that very liberal provision was therein
made for the debtors, and these cX-
emptions. together with the additions
provided for by the constitution, or ali
that ought in justice be asked. The
debtor may cOntine his exemption to
| personal property alone but when he
| selects real estate, he should be FequiF-
| cd by law to make and subsribe a deed
I dcclaratory OF his selection Of certain
| specifically described property under
the exemption laws, which deed should
| be acknowledged and recorded the
same as other deeds OF real estate. BY
this means public notice will be given
| of what species OF property his ex-
| emption consists. Provision should
also be male for the prompt settle
ment of any questions that may arise
as to what Is or Is not exempt.
Under the law a5 il stood when the
! constitution was adopted, real estate
could not be sold under judgment ex-
| cept 10y a degree Of court, and in max
ing such decree, the court could direct
the time, manner and conditions OF
sale. 1t is to be presumed that the
| fCamers OF the constitution were fa-
lniliar with this law, and intended it,
| continuance 10y not repeating or mOdi-
fying it. Ii this construction be cor
| rect, may not the General Assembly
enact a law, clearly within the pale of
| constitution, providing that courts de
| creeing the sale of lands under judg-
ments recovered upon deOts contract
c. prior To April ID, l,jj, may direct
that no safe be made unless ti,e prop
erJy shall bring its assessed value, and
permitting the creditor, at his option,
10 take the property ~ such valuation
III liquidation Of has debt, provided no
higher bid be made at the sale? SURE
Is the debtor oug ht not 70 complain Cf
such a law, ii he ever intends to pay
his debts, for II would effcctually pre-
vent the sacrifice of his properly foI
les. than its zeal value, while the cred
itOF ought not 70 object, for il would
afford INN the means of realizing up
on has claims. With exemptions tU
The debtor under existing laws and the
| constitution OF property 10 the value
tol from e3,UU0 TO S4,OO0, and prOtCc-
| zion from sale at less than the real
value of the balance OF his real estate,
together with appropriate legislat on
iUf the protection of the interests Of
the creditor against fraud and unreas-
enable delay IN the enforcement o. b :
rights, it appears TO me that the Giil-
cult and embarrassing question a. tC
equitable adjustment of these old debt
wall have been properly solved, and
that you will have substantially ex'
haUsted your legislative powers upon
this subject under the constitution
The foregoing sugl stiOus are design
ed TO Apply only u old debts; that i
those contracted prior TO April 2d, 1868
= While L am confident that the appre-
tensions of the dettor class at thi;
time are to some extert imaginary
yet there is sufficient well sta ishe,
truth in the matter to justify, undel
the circumstances, the action aDCv,
suggested. But caution must be used
lest in our efforts to aid and protec
the debtor class we destroy the credi
tor class. The right of latter are a
sacred a. those OF the former. Suita
3 ble projections nlust he accorded to tn
creditor, or we will soon have no cred
tors and no credit. Capital is Away
cautious and nervously sensitive. Tn
friendly legislation towards the credi
: tor will repel rather than induce caPi
tai to our borders. While, therefore
recommend the special, and, as
consider, equitable legislation as to al
debts contracted prior 10 April ,, 1865
| would with equal earnestncss recon
mend that for all debts contracts
| since that that date, or hereafter con
: tracted, the creditor be atfOrde'
{ prompt and effective remedies for th
: enforcement Of his rights.
In conclusion the Governor recon-
7 mends that the scrip per $40, 900 acre
I OF land voted by Congress 10 the stat
j for the establishment of schools an
colleges, applied for and the fund Ill
vidcd-haiI of il % be appropriated {
one of our established white college
and the other half 10 be exclusively {
the establishment of college for III
I v,r..r.1a