The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1873-03-20
TIE BANEaUpr LAW.


mond papers aud their correspondents dslIer
as to the character OF the exemptions by Ia
king the declaratory act itself, and consider
ing it with the homestead Law, we think the
meaning Of the law will appear plain. So far
is real estate is involved, there is but enc
Kind of lien that the law does not affect-ssssor
the purchase price Of said property, OR any
part thereof" With this exception, the ex-
emptiens secured to the bankrupt are "valid
against debts contracted before the passage
Of sueh State constitutions (our present con-
s,i,utiam and laws, as we'll as those contrac-
ted after the same, and against liens by judg-
uent or decree of any State court, any deci-
sion of any such court rendered since ths a.
doption and passage Of such constitution and
laws to the contrary, Notwithstanding"
From these quotations. it seems very clear
that the homestead is securely exempted from
every o h'r nolisation except for the amount
,f purchase money Remaining unpaid.
We have been approached very frequently
aid asked the question what we think Of the
law aud what is the current opinion In regard
20 it. The carreut opinion, If it were made
known is ',rgely in favor oft. A few lodi
yiduas WHO are in easy circumstances. and
'thers wiso will be affected by its operations,
,re pronounced a2sinst it, and to listen to
them it would appaar the next thing to apen
issutiary olf,.nce 20 take the benefit Of it,
i;ut the great mass Of the people do not think
20 1t has been IKE f,ult o. the people. here
sofore. that they have mistaken the express
sion Of a few individuals in cash community
~ the popular opinion, aud this has de,erred
;ns..y men, mn nun,berleAs occasions, from
giving ex preston TO the belief they themselves
entertained, for fear Of being deuoancel -
What is absolutely necessary IN the present
condition Of atg,ir-, i. f,r css'r mar To Judge
If the law himself without: reference to the
,pi,iion Of others. Il is laao Of the 2and.---
There is mo crime--therc is no stigma
.here ia no wrong in availipy Of it, if you
y
televa your circumstances call for it. " hen
| man is convinced he cannot pay out, and
have sheiief for his innocent wife aud
;hildreu-vhen he knows all his labor goes
10 ply the costs OF litigation, and that in
stead of seeing i'll the future day of rc.iei
md emancipation from the thraldom of debt
nc eau hook forward only to darker and
nare Jtstressia. disasters-we believe it his
iuty to ,Esose dependent. Upon him, to him
,eif and community, to relieve himself, If he
eau d. 81 legally. That is precisely what
this law was istecded' to effect It is not
yoftIs' che whietor a man III that condition
80 coosult the opinion Of any one He knows
,s own casc--kc h1gbws his mo1iycs-anel he
is the best judge. Neither should 10 regard
n. harsh and excited expressions OF a few
individuals, prophe+yine al! kinds Of disasters
and distrusts as to results ID the future The
people, as a whole, do MT believe these
hings, and, consequently, do not act them.
We have seen too nauch Of th is surface pub
tic opinion, made by one or two noisy indi-
sduals in a community. The people Should
tn;ns for them selves, and where man Is
satisfied that he cannot pay out, lot hin, give
Up his property, so that h creditors may get
1t pro rata, and he be relieved from the
Jar,ly ziu, tyranny Of debt. and be enabled
% do something FIR himself aud his family
II he is homes. himself, and She debt con-
ractel for value received, he will pay i, il
se ever gets able He certainly can nevel
10 40 as long az his energies are cramped
>nd his earnings consumed b. debt, interest
,'.i litigation fees.
We know an instance where man
ouse. nader decree Of court. was ADVERTISED
!. be rented for security debt. and his fa
+. to III turned Dat without shelter, Jules
~ csnld m4usss to rent some other house
lie is 80 honest man - a hava- work ing me
shanic, and had scruples as to whether he
satber, they were not scruples Of conscience
,at fears Of public opi'4ion. lie was sat
,ti-d he could not pay this debt, his other
iebss, and keep shelter FOR his f.mily, and
.naily under the advice Of friends, fled his
DUPLICATION lii bankruptcy
There are huadseis Of cases precisely
inilar to this one Men hesitate to say.
themselves and their flmilies from utter ruiz
,.ecsuse Of the opiuion Of their neis hbor
vino never knew what debt pressure was =
We regard this as palp able moral cowardice
/ .et = man do what his heart and head tell
ne ought to do - be gnided BY reason, re
gard ess Of the blatant ontcries Of tho petty
money -tyraa:s Of communities. They will
aod up in glariog colo.s the disgrace, the
iisbouor, the distrus,. that must ever after
attach but you ask them to aid you ic saw
ing yvnr wife aud children from exposure
AMI want, aud they will cooliy turn aside and
tell You they are not in That line of business.
Il is u rule Of humanity for every man TO
care for himself, and to do what he can law.
fuliy for the beaeft of those dependent upon
HIN. The bankrupt act is the law. There
~. h:n,. i, .ro; l;nr of its.fo ,latract f,ou,