Thomas County cat. [volume] (Colby, Kan.) 1885-1891, 1889-02-07
REDEMPTION LAWS
The judiciary Committee of the
House 10 Opposed to any
Change.

The judiciary committee of the house
yesterday presented the following report
as to the proposed amendment in the stay
laws and redemption laws, one of the
most important subjects before the legis
lature:
Mr. Speaker-YOur committee ON Judi
ciary have had under consideration the
various bills referred to it relating to pro.
posed 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 a partial fail
ure of crops in certain localities, has Gre
ated in some quarters sentiment more
or less strong in favor of some Legislation
for the relief of debtors exclusively.
Your committee is alive to the hard
ships sometimes resulting from q strict
enforcement of contract obligations. and
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 special
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 enter
ed into by the parties thereto with view
to the remedies provided by existing laws
for the enforcement of such contracts.
ang the supreme court of the United
States has expressly held that
THE remedy subsisting 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 substantially to
impair and lessen the value of the con-
tract is forbidden by the constitution, and
is; therefore, void" Edward VS.. Kear-
zey, 96 L. S. 697.
1t is clear therefore that any law for
stay of execution or creating a right Of
redemption could only operate upon con-
tracts entered into subsequently to its
enactment; and the hoped for benefits of
such a law. if they should prove to have
any existence in fact, would not be gen
orally felt for several years to come. On
the other hand the immediate effects of
such legislation would, in the opinion of
your committee. be injurious to the best
interests of the people of this state Any
thing which tends to embarrass the en-
fOrcement 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 the necessi
ty of renewing their loans, and by stimu-
lating the withdrawal of money from the
state at the time when it is most needed,
would directly tend to aggravate rather
than to relieve the present stringency.
Legislation should be for the whole rath-
er than for part of the people: for all
time rather than for special occasions;
and should be based upon the rule rather
than upon the exception.
Your committee believes that the sur
est way in which this legislation can aid
in bringing about an improvement in the
present situation will be to serve notices
upon all the world that Kansas, as a
state, is still dominated by the same high
sense of legal and business obligation,
and the same regard for private right and
public honor that have ever distinguished
it since its admission to the union.
tee believes that financial prudence and
sound public policy alike demand that all
bills proposing stay laws and redemption
laws should be definitely postponed; and
it is so recommended.