Maryland independent. [volume] (Port Tobacco, Md.) 1874-current, 1878-01-31
EXEMPTION LAW.

EXEMPTION LAW.
1t is contemplated, we understand, in the
Legislature to pass an exemption law, by
which property to the value of $500 is to
be exempt from execution. AS the law
now stands the property exempt is fixed at
a value not to exceed 500 The exemp-
ton in the different States varies in amounts.
In some of the States we are old there is
no exemption whatever, while in others it
Is stated that the value of property exempt.
cd reaches as high as $4,000
For all practical purposes the exemption
of only 800, as in this State, is not Of
much actual benefit to the debtor 1t is
probably true that. with the adoption OF the
higher figure Of $500, as the amount to be
.s--py.t~sI. - ,-....5s be ecnvenieut for
the purposes of credit as now but we think
this Inconvenience would be only of tenn
porary nature and the result would inevita-
bly, be to the advantage of all Ifthe credit
system of dealing was entirely done away
with there is no doubt most material ad-
vantage would soon manifest itself. Wher-
ever the credit system does not prevail this
IS apparent In a community like ours,
however where agriculture is The chief pur-
suit of the people and the income arising
from the expenditure of labor is only real
lied at certain stated seasons of the year il
Is hardly practicable to abolish entirely the
credit and substitute cash system. No
matter what system prevails or what NAV
be the necessities of men, credit will al 6ays.
to more or less degree, unavoidably be re-
sorted to. In our opinion, credit itself al
ways depends largely upon the industry.
skill, sobriety and honesty Of the man who
seeks it--indeed quite as much so nc u,on
the property he may own. whether tina, pro-
perry be subject or not to exemption In
other words the man whose only capital is
health of body, clearness of head and hon
esty of heart may as safely be trusted to the
limited extent of his necessities as the man
who is without these good conditions of life
but who is wealthy in the material sur
roundings of comfort and luxury.
There are many poor men crushed by the
vicissitudes of life who become broken down
not only in fortune bu also in energy be-
cause unable to meet the demands of the
exacting creditor who under different con-
ditions of the law would grow prosperous.
useful and independent When the Iittle
accumulations of life time are swept AWAY
by the sheriff and urgent creditors, the pal
try exemption of 500 doss not benefit him
much. Unlike the rich man he has no gold
IN hls pockets and no investments in non
taxable bonds on which to draw. His all
is taken from him and his family are wan
derers without "a resting place and home.
Give him the exemption of $500 and that
secures him at once a measure of land on
which to live and end shelter or good teams !
with which to till the soil and dig from it
the means of paying his debts.
1t is argued further by some, with how
much of fact we do net know, that those
States where the exemptions are reasonably
large are as general thing the most thrifty
and gain in population more rapidly. It'll
stands TO reason that the immigrant whose
means are meagre-not exceeding perhaps
$500 in value-but who has the resolution
to work his way TO comfortable competency
is more likely to seek field for his efforts
IN those sections where the law is not over
harsh in its exactions but is encouraging in
its spirit, We hope the measure may pass
the legislature and be enacted into law
1t is to the interest Of all that it should. It
may bear incOnveniently hard at first upon
the debtor and may cause hesitation at first
on the part of him of whom credit may be
asked, but its effects will ultimately be ben
e6cial to all.
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