Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1871-11-09
..,-.-se.1,ne,nf Old Debts. .


Noxt week our Court of General Ses-
o;ons ond Common Pleas will be in ses-
s;on and we understand that the.civil
docket will be given Unusual attention,
and consequently most of the suits pend
inp for old war and anti-war debts will
have hearing. Forth last three years
all old debts adjusted. have been settled
on on the basis of the plan Established by
tho neople of Edgefeld in Convention
assembled on the first Monday in April
1868. This paper was prepared by a COM
mittee appointed for that purpose at a
preceding meeting, and was composed of
the following gentlemen ]. A. Devore,
Wv Pickens, NJ. Frazier, julius Banks,
q M Marlborough, M. w. Clary, T. B.
Reese Abram Jones, B. c. Bryan, VIM
Moss and w. L. Coleman. .
We herewith submit the report of the
committee composed as above (Which
Report was at that time most emphat
Isicailv and unanimously adopted) to the
attention of our people, and hope our
Jurors at the approaching term of Court
will not, under any circumstances, de-
part from the wise and just method
adopted, and hitherto carried out in full
faith, by our people-both debtors and
creditors Twenty-Five cents on the dol
lar on old debts, is as much as any OF
our citizens are able to pay, and is as
much as any one expectsto receive.
Judge Orr approves of the scaling 81
old debts. and so charges the Juries on
his Circuit. We are not informed as to
Judge Melton's views on this subject,
hut we feel satisfied that the intelligent
Jurors of Edgefield will strive to carry
ont the will and voice of the citizens OF
the District, even should they, in so do
ine. differ from the teachings and instruc-
tions of the presiding Judge.
COMPROMISE SETTLEMENT OF
DEBTS.
THE Special Committee have had under
oonsid ration the matter submitted to
them by the general meeting held Sale
dav in March, at the Masonic Hall, anu
beg leave to report as follows:
According to the Census, the Dlstrict
of Edgefeld had in round numbers -
600 slaves. These at valuation OF SoOo;
for which they'sold before the war, would
be eleven millions five hundred thousand
dollars (Sl1, 500, ,000). This was consider
ed safe and stable properly, as muc1 SO
as any thing held in the South, ana II
was all swept off by the results Of the
war and the acts ofthe government. The
! whole population went into the war with
enthusiasm, and are equally responsible
for il. We have no data upon which to
estimate the capital vested in stocks and
money to be loaned out, but there is no
lust reason why those who held notes or
bonds for money, should not loose any
fbinp 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 sac
riticed by a war, in which all engaged
alike. and for the consequences OF which,
all should suffer equally. Land has been
reduced in value to almost nothing when
forced to be sold ins order tc pay money
bonds. notes and mortgages. The labor
that made them valuable has been abol-
ished. while most 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 lust and patriotic men, to come to some
fair and equitable compromise by which
the settlement of debts should be made.
AS neighbors, as fellow-citizens raised
up together in all the walks OF life, we
owe it to ourselves, to justice, to honor,
after our terrible calamities, to make q
fair and friendly adjustment Of all our
debts, and thus set an example TO otheI
Districts in our ruined and dlshearteneo
State, so they can see that the Dlstrlcl
that was amongst the first TO lead Oh IN
the war, as a band of brothers, was the
first to show that we are still a band Of
brothers, and that brave men are always
lust and magnaninlous.
We would therefore respectfully re
commend to the people of Edgefield Dis
trict, that all notes, bonds, mortgages Oh
debts now held, involving any consider
alton, or based upon any obligations in.
Cured during the recent war, from Isl
Jan. 1861 to the 1st of May 1865, shall be
adjusted and settled upon the basis OF
gold standard at the date of the contract
or obligation, and then placed upon an'
eoudl footing ,cith debts before the ,cd1.
We further recommend that all notes,
bonds, or monied obligations Of any
1k6iiv1 156r %atfi interest, Shall be reduced
to t,renty-fUc cents IN the dollar, and paid
in currency.
We earnestly urge the general basis OF
settlement to be made by all our neigh
bors and fellow citizens, and whenever
it is not agreed to, tlien we recommend
that it be submitted to an arbitration OF
three or five men as the parties may agree
upon, and the whole matter referred to
these for full and final settlement. This
would relieve lis all from the heavy eX-
pense of litigation in our Courts, and be-
fore mixed juries, composed IN part OF
our former slaves. 1t is well known that
the expense Of litigation, under the gell-
eral distressed condition, will c.Isume
in most cases two-thrds of the d"bt re-
covered, and if land be forced to pay 1t,
that the sale of land now will not pay the
other third
We therefore think the compromise we
propose to our fellow citizens will be
better for both creditor and debtor
AS to settlement of debtsdue by Guar
dians to Wards, or by Administrators
! and Executors to widows and minors,
we would respectfully recommend that
: all such he made upon the same basis,
except that an arbitration be made by
thirteen good citizens chosen by the par
; ties alternately, and that their settlement
, be presented to the Court, on petition,
praying that the Judge or Chancello:
shall confirm the same.
We present the above basis Of settle
ment to our fellow-citizcns and trust
that it will be adopted and ratified by
this meeting as the sentiment of Edge
field District. If generally acted uponand
acquiesced in, we hope it would to some
extent, restore confidence and give new
stimulus to industry, because most OF us
would then feel that there was some hope
for support to be secured, 6y honest td0o'
and ,Do,'thy enterprise. All of which Is
respectfully submitted
-.A-.~.-
~ The following paragraph, copied
from the Baltimore Sun, of Saturday last,
;,,,topf IN, n 1ifr1,t on thC