Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1889-02-03
STAY AND REDEMPTION LAWS.

No one thing gave the leading and
more important interests of Kansas more
uneasiness than a threatened tinkering
of the collection laws. An impaired
credit at this time would prove disastrous
to Kansas. From the official report OF
the proceedings of the house, we clip
Chairman Douglass report on this vital
subject, which we produce in full as fol-
lows:
To the House Of Representatives. Topeka, Kan,
Mr.. SPEAKER: Your committee on
judiciary has had under consideration
the various bills referred to it relating to
proposed stay laws and redemption laws,
and after full discussion and reflection,
has agreed to report adversely upon them
all.
The present stringency in financial
matters, superinduced by partial fail
ure of crops in certain localities has Gre
ated in some quarters sentiment more
or less strong in favor of some legisla-
ton for the relief of debtors exclusively.
Your committee is alive to the hard
ships sometimes resulting from strict
enforcement of contract obligations land,
if any lawful and constitutional scheme
of relief could be devised which would
not carry in its train greater evils than
those which it sought to remedy, your
committee might yield to the pressure
of personal sympathy, or to other spe-
cial and local consideration.
But it has been made clear by repeated
decisions of the courts of last resort that
no redemption or stay law can be consti-
tutionally operative upon any contract
previously made. All mortgages and
other contracts now existing were en-
tered into by the parties thereto with a
ing law for the enforcement of such con-
tracts, and the supreme court of the
United States has expressly held sthat-
THE remedy consists in a state when
and where contract is made and is to
be performed is part of its obligation,
and any subsequent law Of the state
which so affects that remedy as substan-
TALLY to impair and lessen the value of
the contract is forbidden by the constitu
ton, and is, therefore, void" Edward
VS.. Kearzey, So .. s., 607.
1t is clear, therefore, that any law for
stay of execution or creating right of
redemption could only operate upon
contracts entered into subsequently to
its enactment; and the hoped for bene-
fits of such law, if they should prove
to have any existence in fact, would not
be generally felt for several years to
come. On the other hand the immedi-
ate effects of such legislation would, in
the opining of your committee, be in
furious to the best interests of the peo-
pie of this state. Anything which
tends to embarrasS the enforce
ment of contracts for the loan of
money is sure to react upon the borrow
er and too often Injuries the very class it
is intended to benefit. Your committee
is of the opinion that the enactment at
this time of any stay law or redemption
law would throw an obstacle in the way
of borrowers who are under necessity of
renewing their loans, and, by stimulat
ing the withdrawal of money from the
state at the time when it is most needed,
would directly tend to aggrayate rather
than to relieve the present stringency.
Legislation should be for the whole
rather than for part of the people; for
all time rather than for special occa-
sions; and should be based upon the rule
rather than upon the exception.
Your committee believe that the surest
way in which this legislature can aid in
bringing about an improvement in the
present situation will be to serve notice
upon all the world that Kansas, as state,
IS still dominated by the same high sense
If legal and business obligation, and the
same regard for private right and public
honor that has ever distinguished it
since its admission to the union.
Acting upon this theory your commit
zee believe that financial prudence and
sound public policy alike demand that
Ill bills proposing stay laws and redemp
ion laws should be indefinitely postpon-
I'd: and it is so recommended.
GEORGE l.. DOUGLASS,
Chairman