The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-01-27


Deckshzch was sorry that the martsr
cane up as party measure
Range said the merits OF TIE ntl were
known 70 the people Of the state as *
rad been discussed az almost every ire
side. Il the money power nad nor cor
nered the money there would De no need
OF q deficiency bin II was a scheme ne
said. 70 divide the people into classes and
70 make slaves Of the people.
A. this junciure the senate stopped the
debate for the purpose Of participating IN
the Joint ballot with the house for sen
ator.
At 7.ss . N the senate re-asse-abled
and resumed the consideration Of senate
BIZ No. g
Dorr resumed hss speech against tie ban
and he sa.d thar Range had said that shs
deficiency Judgment law was a trap set by
the Repubicansto catch tbeunwary. Range
veaementIy denied the charge and Dorr
said be stood corrected. Dorr said the
deficiency Judgment law was passed oy
the first legislature OF the territory.
wsrburron claimed that the law was
retroactive and he challenged the state
msnt that every state east OF the Rocky
mountains had q similar law. The speak
er said he woul3 not vote for such a law
simply 70 please some one else. It's pas
sage would not help a single creditor in
the state. A number Of mortgages were
overdue and II this law was passed II
would cause the eastern mortgage holders
10 foreclose on millions of dollars worth
OF property and as a consequences would
cause an immense loss TO the people OF the
state. The result would also be to prevent
the people Of Washington from borrowing
money from the east.
Davis of King said this was not the
time for a display Of partIsanship. The
speaker was one OF those who opposed
and voted against the bin two years ago
His reason for this was because he
thought Ii was unconstitutional. The
question is as 10 what is right between
the creditor and the debtor. II a man
who borrows does not give note and
says: There Is my property: you can
have that for security and no more" he
can avoid the dehcinecy judgment. The
true inwardness OF the bill was not to
relieve people OF future obligations. but
rather 10 relieve them Of past Obligations.
Plummer held that il was a party meas
ure. IT was his opinion that the money
starks and the goidbugs were behind the
opposition TO the passage OF this act
which abolished the deficiency Judgment
a deficiency judgment was a mongrel
judgment. as II was one that was given
without consideration. The speaker was
opposed TO the entire accursed interest
system, and if he had his way he would
abolish all the laws for the collection of
debts.
Deckebach said that the bill repeating
the deficiency Judgment bin was passed
by a Republican legislature and was
Republican measure. During the cam
paign the Populists had misrepresented
the situation. The legislature passed
the bill. but the governor vetoed it.
Plummer said that the Republican party
was responsible for the fact that there
was a deficiency judgment law still In ex-
istence.
Deckebach said the facts should have
been fairly stated.
Crow thought that any law that would
prevent the placing OF mortgages on
property in this state would be beneficial.
He did not believe that the law would
be retroactive. He had seen his neighbors
turned out of their homes and compelled
go out on the cow trails. Homeless people,
he said. made undesirable citizens. Homes
were sacred things and should be pro-
tected by all the safeguards possible.
Dorr said that IL the bin was retroact-
i've and therefore unconstitutional, why
was IT that the Popuists wished 10 have
Ii passed and thus deceive the people?
Miller OF Walla Walla said he was OPP
posed generally 10 deficiency judgments.
yesterday of Pierce said IL was an un-
fortunate time to try 10 pass an act OF
this character. He did not think that
any member of the legislature desired TO
nave the TlSnt TO DpIEDN laASH away
from him. He favored the absolute sale
OF property when sold under a foreclosure.
TO the end that there might be bidders.
Then property would not be sacrificed.
as is the case under the present condition
al sales under foreclosure.
Frink said II there was any measure
that would protect the unfortunate debt
ors he favored Il. He belonged TO the
debtor class and had paid out enough in
interest 20 pave the senate chamber with
$50 gold pieces. No argument had been
brought out In favor OF the measure ex-
eept the threat that "if you don't vote for
II your name is Dennis politically" He
would not be deferred from doing bis duty
by a threat OF this kind: therefore he
would not vote for the bin under consid-
Grafton. Its passage would do no good.
TAYLOR OF Pierce closed the debate. He
said that the deficiency judgment law was
passed in the early days OF the territory.
when the population was made up OF no
mads-cattlemen and lumbermen. The law
was not suited to the requirements of a
modern. commercial entreprising people.
Taylor continuing appealed to the rec
crd to show where yesterday IN his eight
years experience had ever offered meas
ure that ever squinted at this evil Hs
asked the members IL they could not do
anything for existing contracts 10 at least
do something for posteTity. and not leave
as Il has those Of the present generation.
The speaker was full OF bitterness and
sarcasm against the Republican minority.
He referred 10 the vetoing Of the biz as
a dfshonorable act. He asked IN conclu-
sion why a bad law on the statute books
should be handed down 10 cur babies.
Frlnk said that the way 20 make money
scarce and interest high was TO pass laws
that would keep money from coming into
the state. These laws were IN the nature
Of making the collecting Of debts impos-
She
Taylor stated that l. was seldom the
case that the capitalist who furnished ths
money gat over per cent. FOR his money.
The tax o. the creditor vas consumed by
the middle man.
Frlnk-If you Tin show me where T can
borrow $'oe go az : per cent. interest. I
Viii cake g and give good security.
Tay)cr-If the puissant and weighty mo
GO who ru3es this country win give his
consent n the coinage % silver. there wiu
he 10 trouble over the matter OF getting
tae morcy-
The debate was then closed ard the
question 81 whether the bin should be
passed despite the veto % the governor
VAS vo.ea ca with the following result.
Yeas-Ia.
Cole McReavy
crow Muller. T J
UavIs Pau
ttN.% PlHmrusr
HtEh Range
HtH Runner
keith Tay-or
Say>-I0.
fsa-za nRr& Miller DavEA