Year: 1866

As thi, question is occupying much at
tentios from the people of this State, and i'
now under consideration by the Legislature,
We extract below some remarks made by
Judge Reese, in Z recent address to the
Grand Jury Of Baldwin County, in Georgia.
His view, are worthy of consideration:


1t requires no prophetic eye to see that
the feeling now being engendered between
the debtor and creditor class (unless =
course of conduct different from that now
being pursued by both parties be adopted)
will culminate in deadly hostility, in law
lessness, and in serious injury to the sgri-
cultural interests Of the country. On one
hand, the debtor, whose prosperity consist
ed principally in slaves, and who, by rea-
son of emancipation, is not now possessed
of property sufficient to discharge his pecu.
mary liabilities, feels that the action of
Government has relieved him from all NOR
al obligation, and is, therefore, Indifferent
as to the payment of his debts.


On the other hand, the creditor, seeing
this indifference, is, in most cases, proceed
ing to obtain judgment, so as to be ready
TO enforce the collection of his debt to the
extent of the debtors assets, whenever the
law shall allow him to do 30.


This course of conduct, by the respec-
tive parties, brings about mutual charges
of dishonesty and unfair dealing, and must,
if persisted in, eventually lead to a state Of
things easily imagined, hard to be depicted,
and greatly to be deplored.


propose, briefly, to establish the propo-
sitior, that in all cases of debts contracted
prior to the lst day of June, 1866, where
the debtor has not sufhciency of property
to discharge all his liabilities, without leav-
ing his family comparatively destitute, it
will be to the interest of the debtor, to the
interest of the creditor, and for the good of
the country, that there should be CON-
pounding between the parties at once, they
taking for their guide the rule of conduct
prescribed by Him who spake as never man
spoke, viz: GAS ye would that men should
do unto you, do you also unto them like
wise"


! First, then, will it be to the interest Of
the debtor q? 1t is clear, 10 my mind, that
the planter who finds himself without suf-
fciency of property at fair valuation. to
pay off his Indebtedness now, cannot reason
ably, under the present labor system, and
with heavy pecuDiary liabilities hanging
over him, to better his condition in the
pursuit of his former vocation ; and without
capital he cannot embark in any other bust
ness. 1t is not human nature for man to
be industrious and energetic with judgment
liens against him beyond the value of bis
property. He is constantly watching and
expecting the officer of the law to take the
last luxury, if not the last comfort, from
his family. He becomes unnamed, USE
less to his family and to society. 1t re-
quires no heightened argument to prove
that debtor thus circumstanced will have
more left by compounding With his credi,
tors now, than he will have by waiting fol
the end of the law; for am fully psrsua.
ded that there are but few creditors who
when properly approached by the hones
debtor, will not be willing to compound up
on liberal terms, taking into consideration
if you please, the losses of himself ane
debtor by the action of the Government ir