The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1878-01-23
Fbr The Recorder.

Nix. EDITOR.
There seems TO be a. general impression,
that the Legislation now urged III Com
gresswill bsnefitonly Tie creditors ~ the
country. Werethls true. lido not see why
creditors may he favourea by Legislation
as well AZ slebtors. They are as honorable
linen as debtors. They are as necessary to
the public veal. They are as mindful Of
their duties asneighbors,. aud rs citizens.
Why then. II legislation n % help one
class 81 citizens, may It moi help public
aud private creditors as well as any
othef? Iftheyare 10 lie regarded AZ un :
worthy ofheip. ~ uiooithirsly Shylocks
where apIetites are to I've restrained. ihrse
honorable ineb viii ceaseto lend their sur
plus capital. They will not expose them
selves TO pronunciation MS "bioated bond
holdersn money tyraDts. geld sharks"
&c. The business 81 len,ling capital will
tlien be confined 10 ,nen ol no drlicicy
whore consciences are educated by human
legality only, whose skin Is a, thick as
that of arhinoceros and MS iDsensible as
shept.lron. who arv animated only by the
expectation of .'slirnt per shent" But 10
The Legislation which Il now proposed Is
u, favour ofcfaditnrs u VIII be a very in
frequent instance 81 such legislation.
"Turn about" Is fair play often. INV.
considering now often the dei,lnr has been
helped by usury iaws-hy stay laws--by
bankrupt laws--iy homestead Iaws-hy
lrgal.trn,ler laws--l,y suspension ofslecie
payments &c, az, II would seem that once
~ whilethe creditor might haSea sop
thrown Go him without grudging. But IL
II true that this resumption Of specie pay
ments isin favourof llircreditors as against
the debtor? What has leen dome wasa
proniising to render precise certain vague
promise. THIS act Was certainly
every way proper. lie whp il always
Promising and never fulfilling willceriains
~ lose credit for his Promises. Now whtD
deliior la~rs credit he lnsvs the meats of
paying his present deUts. He leases alsn
all chance Of renewing his debts. he
l,scs both ca-h aud credit. The I,ss 81
credit will Lc Car more serious Than The
loss ofcash. As long ASA nian has credit
I. e. the power To born,~, he can get
money. A man of money. may haysno
credit, but man of credit can always
have money, or moneys worth. This
credit is tile peculiar glory 81 Christian
countries. In China and 10 Turkey. one
gels nothing but by paying silver or gold
on the spot. This isa free countsy. There
II no law compelling man 20 lend his
money. But Ia capitalist likes his neigh-
Dor and sees that lle is ,sAh able and vii.
Hing 10 pay. he will lend him money. He
will he especially reluctant 10 lend tile
capital Ii. does nat need Cor lii- avn orera-
iions " he secs That while his debtor Is
allie he Ii also unwilling to pay. thai he
never munitions payday. Now tile
truth Is that I'VE the people of the Unitri
States" NJ our Constitution styles ",
Promised yrasago To- pay certain monies,
aud here lately We have also appointed n
certain day when we will Pay them. j.
this wrong? Il IL unwise? II itlikely 60
Iiurf our credit? Has not this ,leiinite
l,roinise to Iay I-,iu.~d our Interest from
seven. 10 fur per cent: Now rs the day
whirh We frrrly named approaches. shall
We hrrHk eur word Shall We ,etrart our
Ipromi-e? Our creditors can hst help
themselves NJ Co the contracts af the last.
Hut they have IN III their power NJ 10 the
future. "a prudent man fnie+eih the
evil aud hi,leth himself Hut the simple
pass on and are punished" A wise man.
good nlHn h Described asone "~hoswrsr-
eth Ia his avn hurt aud changeth not"
Hut this swearing was in itself praper. aud
Ias done u goal. Now shall We 40 hack
sn our word! How isthe fulfilmentafth.s
prnmise an injury to the ,lehto; even II u
Is gnDd onc 10 the creii;o! Il was mere
Justice o. make u. AL these wisest men,
men lrast lnnusnced by personal Interest,
say that we certainly can pay what We
prumi-rd on tile day We Promised. There
Il sunie diversity ofoidninn ~ 10 DURABILITY
10 continue iaylng what we owe. THIS
doubt cannot I've fennyrd without M ex-
pertinent five lvgIn toda our duty and
circumstances prevent Us from continuing
therein. We certainly VIII stand better be-
fore tluwe whre g,pd olinion we need.
than " we n,rkean riiori % bsgin; or hav-
ing pr'misrd 90 begin, postpone the ,egin.
Ing witl.out consulting NOR creditor. The
game " Hrads win, Tails sou la~r,"
can't he played often ur long in q free
country.
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n~..cx~~x