Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1874-03-25

payment Of corporate debt is prese nted
IN speoin; form. 1t is Of a statutory
ckSrActer. ....... ........-.. ......
The remedies for the collection Of bebt
are essential parts of the contract Of in
'1tltedness, and those in existence at the
't-me it is incurred must be substantially
preserved to tho creditor. Thus q statute
prob hitting the exercise Of its taxing pow
err by the city TO raise money for the pay
ment of these bonds would be void.-(Van
Hoffman vs.. City Of Quincy, Wall, 535.
But it is otherw of statutes which are in
existence at the time the debt is contract
| ed OF these the creditor must take Dotice
and if all the remedies are preserved to
to him which were in existence when his
debt was contracted he has no cause Of
mplain:.-( Cooley Const Linn, 285, 287
| By Sec. Of the defendants charter,
priv; Laws, CHI, 237, p. 667) it is enacted
as follows
/ Nor shall any real or personal property of
any inhabitant of said city, or any individual
or corporation, be levied upon or sold by
virtue of any execution Issued to satisfy or
collect any debt. obligation, or contract of
said city"
If the power Of taxation is conceded not
to be applicable, and the power of the
court is invoked to collect the money as
upon an execution to satisfy q contract or
obligation of the city, this section is di-
rectly applicable and forbids the proceed
ing. The process or order asked for is in
the nature OF an execution /; the property
proposed to be sold is that of an inhabi-
tant of the city the purpose to which it
is to be applied is the satisfaction of q
debt of the CITY. The proposed remedy is
| in direct violation Of O statute in existence
when the debt was incurred, ard made
! known to the creator with the same sol
emnity as the statute which gave power to
contract the debt. All laws in existence
when the contract is made are necessarily
referred to in it and form a part Of the
Measure of the obligation of the one party,
and of the right acquired by the other
Cooley Const. Lin. 1850
But independently of this statute, upon
the general principles of law and of equity
juris- prudence, we are of opinion that we
cannot grant the relief asked for The
plaintiff invokes the aid of the principle
that all legal remedies having failed, the
Court of Chancery ust give him RENE
dy, that there is wrong which cannot be
|
must be sustained in, chancery. The diff
Guilty arises from too broad an application
of general principle The great advan-
tage possessed by the Court Of Chancery
is not SO much in its enlarged Jurisdiction
as in the extent and adaptability of its
e remedial powers Generally it's jurisdic-
tion is as well defued and limited rs is
that Of court of law. 1t cannot e1er-
else jurisdiction when there is an adequate
and complete remedy ut law. It cannot
assume control over that large class of OBJ
legations called imperfect obligations, rest
ing upon conscience and moral duty only,
unconnected with legal obligations Judge
Story says "there are cases of fraud, OF
accident, and of trust which neither courts
of law or of equity presume to relieve or
to mitigate" of which he cites many in.
stances-Q Story Eq Jur sec. II Lord
Talbot says:
There are cases, indeed in which Courl
Of Equity gives remedy where the law gives
none, but where particular remedy is given
by law. and that remedy bounded and cir
cumscribed by particular rules, would be very
lnpr oper for this court to take it up where
tho law ws."-Heard V. Stanford, Cas-.
Generally its jurisdiction depends upon
legal obligations, and its DEGREES can only
enforce remedies to. the extent aud in the
mode by law estrsiished. With the sub
jects of fraud, trust or accident when
properly before it, it can deal more CON-
pletsly than can court Of law. These
subjects, however, may arise in courts of
law, and there be well disposed of.-Q
Story Eq Jur., Sec. co.
A court of equity cannot, by avowing
that there is right but no remedy known
to the law, create q remedy in violation of
law, or even without the authority of law.
1t acts upon established principles not
only, but through established channels
Thus, assume that the plaintiff is entitled
to the payment of his judgment, and that
the defendant negleets its duty in refusing
; to raise the amount by taxation, 1t does
not follow that this court may order the
amount to be made from the private estate
of one of it's citizens. This summary pro-
; ceeding would involve violation Of the
rights Of the latter. He has never been
heard ia court. He has had no oppor-
tunity to establish defense to the debt
itself, or if the judgment is valid, to show
that his property is not liable to it's pay
ment. 1t is we'll settled that Legislative
exemptions from taxation are valid, that
such exemptions may be perpetual in their
duration, and that they are in some cases
beyond legislative interference. The pro-
ceeding supposed would violate that fun
damental principle contained III chapter
20 Of Magma Charta, and embodied in the
Constitution Of the United States, that no
man shall be deprived Of his property
without due process Of law that is, he
must be served with notice of the pro.
ceeding, and have day in court to max g
his defense.-(W estervelt vs. Greig, II N
Y, 200
Due process Of law, it is said undoubtedly
means in the due course Of legal proceedings
according to those rules and forms which
have been established for the protection Of
private hts."-(Ib.) ill.,.
La the New England States it is held
that judgment obtained against town
may be levied upon and made out of the
property Of any inhabitant .ef the town.
The suit in those states is brought in form