Thank you for visiting SNEWPapers!
Sign up freeRichmond Enquirer
Richmond, Richmond County, Virginia
What is this article about?
Editorial from Nashville Whig critiques the newly passed Property Law, noting its constitutional flaws and intent to indirectly enforce acceptance of bank notes in debt cases, predicting it will foster bad faith domestically and damage international credit, while anticipating a return to specie payments.
OCR Quality
Full Text
Which has passed both branches of the Legislature, although objectionable on Constitutional (and, as we think, on other) principles, does not go so far in the way of Relief as we anticipated—from a slight view of it. The real object of it seems to be to procure indirectly, the benefits of the former endorsement Law, (which has been declared unconstitutional,) by a proviso, that if a plaintiff in execution will not agree to receive Bank notes, he will be subject to the operations of the property law.
It also seems to contemplate only existing cases, and anticipates some alteration in the monied concerns of the country—something like a resumption of specie payments at the time heretofore prescribed. Our remark, that the measure would tend to produce bad faith at home, and bad credit abroad, is nevertheless correct. People at home will view it as affording more advantageous terms to those who are debtors, than the facts justify; and abroad, the idea of a property Law will annex, as a natural consequence, bad credit. It will be viewed as the dernier resort of desperate circumstances.
Nashville Whig.
What sub-type of article is it?
What themes does it cover?
What keywords are associated?
Where did it happen?
Story Details
Location
Tennessee
Story Details
The Property Law passes legislature despite constitutional objections, aiming indirectly to revive benefits of unconstitutional endorsement law by compelling acceptance of bank notes in executions; applies to existing cases, expects resumption of specie payments; criticized for causing bad faith at home and poor credit abroad, seen as desperate measure.