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Helena, Phillips County, Arkansas
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New York State enacts homestead exemption law protecting family homes up to $1,000 value from seizure for debts contracted after passage, shielding families from homelessness due to business failures or head's incompetency. (N.Y. Tribune)
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Rejoice with us, friends of Progress! that the State of New York has, at length, practically affirmed the Right of every Family to a place to live! Though nothing has yet been done to provide homes for those who need them, it is very much to have enacted that a family having a home of its own shall not be legally expelled therefrom because of the misfortunes in business or even the dissipation and incompetency of its head—that is; shall not unless in satisfaction of debts heretofore contracted. Whoever now holds the obligation to pay of a debtor may enforce it at any time against the shelter of his family, because he is held to have a lien or implied compact to that effect; but the State gives fair notice that she will be a party to no such compacts made hereafter. If a merchant or tavern-keeper chooses henceforth to supply on credit a man who is drinking his character and substance with the poison that is destroying him, he must not ask the State to take the roof from over that man's family to satisfy his demand. So with all other debts and obligations. A. B. endorses C. D.'s note, meaning that he will pay said note if the maker don't, but the law no longer steps in to declare that, if the endorser can't otherwise pay, it will turn his wife and children into the street. Their dwelling, to the extent of $1,000 in value, is henceforth beyond his power to pledge in any such way—is held by the law to be more necessary to his family than the privilege of thus risking it can be to him.
[N. Y. Tribune.
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State Of New York
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The State of New York enacts a law affirming the right of families to their homes, protecting dwellings up to $1,000 in value from seizure for debts contracted after the law's passage, except for prior debts, to prevent families from being expelled due to business misfortunes or the head's dissipation.