Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1878-02-08
Judgment Notes

AA
are judgment notes Of hand aud plain
notes OF hand. This Is the case IN Ohio,
and the judgment notes work well.
None of the evils that some Of tho old
fogies OF this State predict would fol.
low the legalizing Of Judgment notes,
have beCn .ealiz d. 1t - rare thing
indeed, that litigation j. caused by
Judgment noic-, but perhaps this IL the
very reason in sOme qna"t,r, why there
il opposition to the emission Of this
sort Of paper IN this S'a'c. II should
he legal to make judgment notes in thi.
State simply by embodyiug that fact in
tie note. There can b 40 good rea.
so1 why tue parties interested should
mt be showed to make judgment u),es
and We do know many reasons why
t!ey should be allowed to make them
L would greatly strengthen private
Celit, aud il would encourage large
amounts Of capital 70 com hefe tor in.
vstmeE'. B.inrc he owners Of capita!
hvls; it, tlty want 10 know several
ltcrp. They want 10 know what ohsla'
chs eau be thrown IN The way Of the
objection Of evidence. vi debt, where
tEeir money il invested, audth~! want
.tcknoR row much they c-n make b!
Al investment. II no obstacles can
be rhIOwh 10 the way OF the
Collection 4 nute-, cspitat'';. VII IN
ve,l whore they can yet the highest Tate
Of n.eresI. A. the Jaw. are in th!s
State now note means that HE drawer
orendorscr wi | pay il. OF not, at ma'ur'
III. just s. they elCc'. II hey have a
credit 10 protect aud dou'i have to sell
properly 10 pay n note, 1t 10 probable
that it will be paid al maturity. But
If they elect MOTTO pay, the gal rene
d. 10 this State is very sow, unsalis'
factory, uncertain and costly. mat.
ter whether the contracting parties
wish to make ii Ctherwlse or
not they cannot do 50. Now, we
held that it is just and wise 10 allow
suy mSn 10 sell bis credit III good faith
to the best advantage for himself, aud
If he wishes to give a judgment note
under wlseIrestrictiou-, i ought to bt
legal for him to do SO. We honesty
believe Il at q law Of this kind would
benefit this STATE hundreds Of thou
sands O. dollars ye,rly. Let the Law
leave it optional with the drawer Of
note, whether he gives a judgmen
note or aplain one. Ii il is to his inter
est to give a'judgment note and secure
the use ofmouey at a low rate OF in
terest, instead of giving q p'N'i ont
and psyinga high rate OF interest, il
Gods name ought not he have the lie
gal right 10 20 SOP The law might dc
care that 'uA a Judgment shalt MOI b
executed befIre prOtcs', and before
bond for twiG the amount Of the judg
meut note lie gwen, and throw all rea
sonable guard. around the interest o
sll parties concerned, but If all thes
things we're dom, VIC can't see one soil
tary reasonable ~ cliou o sli1wit'
such notes to b. made. We trust TIA
car L,gielaiure wi give ai. mstter
little thought, Iw Sc a.>Ugs tLcI
ta., the people # hi stat
need some reliei VI is sor; ys., 1,d!!
Oar commercial Int-cst. n,cl il, gu
planting interests meet il, ii fact, ever
interest IN the State ned, It. A law Q
this kind would bring money to Mi
si.sippi in abundance Merchan.
could get it and planters ould get it
much lower rates of intehst than the
now pay. We must hive cheap'
money before we can pro'er, aud b
fore we can have cheap honey, v
must have notes that mea what
written on them.