Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1870-03-08

amendment ana mO0lucallOn vi I'LL tueSc sFF0ia'
charters.
Relief to debtors
The 4th section OF article II of the constltu-
ton prohibits the General Assembly from pas
sing any Law staying the collection Of debts,
commonly known as stay laws" Under any
ordinary circumstances, this would BIO general.
" accepted as just and wholesome provision.
Stay laws are wrong in principle, and have not
proved generally beneficial in practice The
dangers to the credit of a people, and other evils
engendered by such laws. usually far outweigh
the temporary good which they are designed to
accomplish. | doubt if the people OF this com
monwealth to- day, as general rule, have been
benefited by the stay laws heretofore in force
| While the terrible condition in which the late
war lief our people afforded ample Justification
for extraordinary Legislation OF even doubtful
conslitutiona!ity, nevertheless Such Legislation
~ would have compelled an tqulabe eonPfo
| mise Of the existing debts between Gcotor ana
creditor would have accomplished tar more
good tn N the laws that were enacted ont
the day Tor this kind Of Lagl station is passed.
while the reason for it, to soule extent, remains.
| The constitution prohibits it, but the neccssl.
ties OF large class OF our people require 1t.
Great loss and suffering will inevitably result un-
les; some mode of relief can be t0pnd. have
reflected much and anxiously upon this subject,
| and have arrived at the conclusion that there
are but two modes oil roiiei which cli, under the
constitution, be extended to those unfortunate
neope who we're in debt ut the close OF the war.
| The one may be found in the lth article CT the
| constitution, and know as the home stead eEemp,
| ton article and the other Is the general power
! of the Legislature to prescribe tn mouc ana
manner in which lands stall be sol! Gndar
judgments and DEGREES. The l,t section CT the
lIth article of the constitution provides that
every householder or head Of . family Shall b.
entitled, in addition to the articles now exempt
from lew or distress for rent, to hold exempt
trem lew, &c, Two thousand dollars worth Of
real and personal property, Or either. B2 all
examination OF the exemption laws in force at
the time when this provision OF the constitution
was framed, it will be found that very liberal
| provision Was therein made tOr the debtors,
| and these exemptions together with the add
| tinns nr, vidcd for by the constitutions, are all
that ought in Justice to tie asked. he DEBTOR
nav confne his exemption to personal property
alour, but when he selects real estate, he should
tie required by law to make an'l subscribe a
deed dccarctory OF bis selection OF certain specl
fcl!Iy described property under the exemption
laws, which deed should be acknowledged ana
recorded the same as other deeds OF real estate.
Rg this means public notice will be given OF
what species Of property his exemption consists.
Provision should also be made Tor the prompt
settlement OF any ques'lous that may arise as to
what il or Is not exempt.
Under the law AZ it stood When Tue c0nStI.
mrion was adopted, real estate could not be
sold under judgment except by I decree OF
court, and in making such decree, the court
conld direct the time, manner and conditions OF
sale. It is 10 be presumed that the trainers OF
the c,naritution were familiar with this law,
| and intended its continuance By not repeating
or modifying it, II this construction be cor
rect, may not the General Assembly enact q
law, clearly within the pale ofthe constitution,
providing that courts decreeing the sale o! lands
under judgments recovered upon debts contract
cd prior to April I'd, 1863 may direct that 10
sale be made unless the property shall brlug lis
assessed value, and permitting the creditor, At
his option, to take the properly at sucn Vaiua
ton in liquidation Ct his Debt, provided no
higher bid he made 1T the sale? Surely the
dnhtor onurn not to complain of such law il
he ever intends to pay his debts, ter it would
cff,c;u,y prevent the sacrifice OF his property
for less than It's real va'uc, while the creditor
oupht not to object, for it would afford him the
mean: OF realizing upon his claims: WIN
cvcmn,ioos to the debtor under existing laws
| and the constitution OF property 10 the value Of
| from s., 600 to 81 900, and protection from
Gale at less than its real value III the baauce OF
his real estate, together with appropriate Leg
islalion for the protection OF tho interests OF
the creditor against i:aud and unreaSonaOe de'
Law 10 the enforcement of his rights, 1t appears
TO me that the difficult and embarrassing ques
ton as to the equitable adjustment o. these Ola
| dehts will hav. Dren properly solved, and that
rou wiiI nevr substantially exhausted your
legislative powers upon this suhlec' under the
constitution. The foregoing suggestion are dc
SIGNED 10 apply only to old debts; that is, those
contracted prior to April ,, 1863. recognz'
| fnIIv the dangers Incident 10 what may BE- ter
Md snecial legislation especially whcn enacted
rrdpr the indictments CT public distress. toment
4 nj aud increased, it may BE-, y demagoguc
annpals and pretentions sympathy. Bat wher,
as in thc present case, the people have been
affiliated by great public calamity which strip;
ned them OF their substance and destroyed
| their means Of meeting their ohlisatiohs' ana
for which destruction the creditor Is as much
RESPONSIBLE as the debtor, natural ana hleiier
eon;,v obtains than can be melted out under
asnaraI laws passed under ordinary circum-
stancrs While | am confident that the ap-
nrehcnsiops of the debtor class at this time are
r. some extent imaginary, yet there is sutil
cient of we'll established truth in the matter TO
ius,ifv. under the circumstances, the actlon
ah,rr suppestcd But CAUTION must be Used,
least in our forts to aid and protect the de btor
class We destroy the creditor class The rights
of the latter arc as sacred those OF the FORMER
} Suitable protection must be accorded to the
creditor or you will soon have no creditors ana
no credit. Capital is always cautious and
ncrvouslv sensitive. Unirendly legislation To-
wards the creditor will rcpcl rather than IN
ducc c,nital to our borders. While, therefore,
recommend the special. and AZ l consider,
couitahe legislation as 20 all debts contracted
prior to Ami! ,, 1868, | would with equal
earncstncss recommend that Iorall debts con-
racted since that date or hereafter contract,
ted, the creditor lie afforded prompt and
effective remedies for the enforcement OF his
rights. p,
rhpre il one more sui jet, not german to