The Wabash Courier, Volume 11, Number 29, Terre Haute, Vigo County, 25 March 1843 — Page 2

tioatotheincweeei to pr^i" or, in Hth** wordsTif the standard of value decrease, every Diner wuiu», thin* represented by it retrograde* in exact proportion. Hence it ia that* in the year* 1836 and 1837, when the circulation was inflated 10 doable what they now

Now, sir, I have said all that I desired to say by way of counter-attack upon the measures, principles and ^piilicy of the minority of this House. I do not frequent*fly obtrude my counsel upon the House, and should not have addressed It to-day, but that the "spirit was moved" by the fierce assaults which the gentleman from

are.

That inflation of circulation and consequent inflation »f oricei was caused by Democratic" policy, which travel*us the fitate banks, and stimulated them to extravagant emissions of paper but no sooner «*e the ntMet accomplished than ihe popular prejudice which wasawakened by the appealsoi demagogues against iheUniied States Bank, and, not sated by its revels amid the ruins of the best currency ever given to a nation uwaed likea huagry^ tiger upon these hule monsters,''and the leaders of the part/were compelled to join in the attack, or to be swept lrom-Ue political world, by the forjr of that spirit which, tor another ourpoee they had invoked. They did join in the attack, aud these currency bantlings of theirs was denounced their very fathers at.firat cast imputations upon their legitimacy, and ultimately threw off all diMOises, and with bold profligacy declared tbeM to be of Whig origin, and unworthy of the countenance ol the Democracy. Credit cannot exist against popular will and the credits of these institutions, by the ceaseless attacks of party leaders, was destroyed. The* were compelled to contract their circulation one half or more, and thecountry was deprived-, of one-half its currenay the representative of value was decreased, prices fell in proportion, and the people were ruined. And now, to remedy the evils wrought by their hands, they offer tone this hard money panacea as (he only one left in their budget of nostrums. The mixed currency of this oouituy amounts to about two hundred millions of dollars, of which eighty-seven millions is of gold and silver. For the purpose of illustrating the position which I shall assume* I will state the amount of gold and silver at $100,000,000, and upon each hundred dollar# worth a tax of thirty cents is levied. If the circulating medium were reduced bne-half. by «tri king from it all Bank paper, Ihe property of that Slate being represented by onn-half lees than present would sink in value to *50,000,000. But how would it affect the taxes! A given sum must be collected, to raise which requires a tax of thirty cents upon each hundred dollars of the hundred dollars of tbe one hundred millions. If the one hundred millions be reduced 10 fifty millions, does it not follow that a tax of sixty cents upon each hundred dollars mast be imposed to raise the gum required Here, then, we have a remedy proposed, which, if adopted, will double the taxes paid by every citizen of Indiana, and at the same time reduce one half his present means of paying them. But itwiU not atop with tax-payers: it will operate in ruinous effect upon all classes ol society, except the mo* ney lenders and upon none more rigorously than the poor day laborers. A policy that reduces in value one half each farm, and all the prod'ice raised upon it, in my State, will not except from its operation manual

Jaoor. This must also come down, to preserve the proportion between its value and that of properly and the ripening glories of "Democracy" are only to become visible when the humble laborer shall return at night to a begghig bread, with twelve and a half ran ta in his pocket—I he reward of a dajt'a hard toil! Such a doctrine may find advocates among rich creditors, but hardly, I Mtould apprehend, among the indebted alsss ofsociety and I know but little of the farming population of my State if they are ready and willing to a (a in establishing* policy that will compel them, by its process of reducing prices, to sell lonr hundred in•lead of two hundred nushels ol wheat to raise the sum of ono hundred dollars to pay a debt. The State •^Indiana now

can neither pay her debt nor the inter­

estupon it and it is but a poor compliment to her intelligence to supposo that she will be found acting with party that proposes to double her indebtedness by .way of relief to nor inability to pay

I hare examined hastily, sir, the results of this Democratic faith, if ever reduced to practice, upon the people and upon the interests of my State and as Indiana has no National interests separate and diatinct Irom those of her sisters ol this great Confederacy, the effect of these measures upon her is hut an example of what it will be upon the whole Union.

Ilcnceforth, let there be no misunderstanding or confusion about principles or positions. It seems to be agreed, upon all sides, that the great parties are to meet each other in the coming struggle, ai.d do battle for their principles. On the one side we have free trade and direct taxation on the other, a tariff for revenue and protection to American industry. One party swears eternal hostility to Banks, and offers to the country hard money only the other opposes to it a National Bank to regulate the currency and exchanges. One party proposes to reduce trade to the standard of currency the other to increase the currency to meet tha demands of trade. There is one measure besides, which the Whigs propose, that finds no antagonist principle in the Democratic party of an affirmative character. It is the distribution of the proceeds of the pablie lands—a measure which, if adopted, would entity distribute to the 8tntes large sums of money atog from the solos oi

their own lands. The sums

.. HOT would be thus thrown into the treasuries of the various State* would enable Jnany of them, without resort to such onerous taxation as now prevails, to «eet tbeir liabilities with punctuality. To this measure the "Democracy** are opposed, but offer nothing as a substitute. 1 know of no other clear and well defined principle advocated by either party, unless it be the nsckneved one of "economy," which is. and ever has been, professed by all politicians of every age and school, and if there be any other in the Democracy they would confer infinite obligations by disclosing it to the country.

South Carolina thought it proper to make upon that

eirty

with which 1 have always acted And this. Mr. bafrman, perhaps the last time that my voice will ever be heard within the walls of this Capitol,speaking to my constituent or the nation the language of advice or warning. Since I have been here I have not sought to gratify any desire for dieplav but rather, like the gentleman from Vermont, (Mr. Mattocks,) have played the part of a good listener to the speeches of others and, by submitting patiently to what, in many net a noes, has been rat her an 'afflicting dispensation,' I gave it as an opinion thnt I have richly earned my eight dollars per day. Still I have endeavored, bv an unyielding devotion to the great principles which have ever advocated, to deserve at least the commend* at ion of that constituency through whose generous confidence 1 became a Representative.

And now, when about to retire from all participation in the legislation of the oountiy, (as retire I shall

Itgisl&tion hero, of those from whom I have received unvarying demonstrations of kindness disdain all

Fret trade, direct taxation, and hard money, an emblaxoned upon your banner and it yon shame not of it, meet us in the field with it at the head of your columns in 1844. Oar ensign stands where it has always otsod—npon the battlements of the Constitution and upon its raids are inscribed in bold, eleer character*, Protection to American industry, a sound Nation«i currency, and the distribution of the proceeds of tb* public lands. I A correspondent of the Toledo Bfetde |writmg from Lafayette Fob. 15lh, says:

DtAft SraIt may not be uninteresting ?o tbe businea men ol* Toledo to be inform* 4m) of tbe ftfnouBt of Pork pot up along ibe fine of the Wabash it Erie Canal, and therel&re I have taken aome little trouble to aaceri«in the numbec of hag? shtagbierod at the ^different places, follows

Lafayette, Delphi, Wabash Town, Lagro—-Wabaah Co-, Crawfbrdwrilte, Williams f»ort, OcmngUK,

Toul,

IT tion of the rule above recited. On motion of the com•nd surrender my rust to I plainant. it was ordered and directed that this cause, •nisn»tpd.) I with said points, be certified to the Supreme Court, in tion of tbe future condition, as it ts to be affected by

and favor. I

affectation of philanthropy, nor do I arro­

gate to myself more than an ordinary share but with others of my party I can and do feel for the miefoN tunes of my fellow-men. The time is not now, when I can look wi«h the cold practised vision of the stoie, nnconcerned, upon such testimonials as everywhere

when a line of National policy is proposed for adoption which is to increase these testimonials and adds to this distress, I should be recreant to all duty to my constituents without first raising my voice here in warnhi* and remonstrance.

Tree trade! direct taxation and hard money! To the "Democracy" here I say, You may, by one ot the

talvject is the security which the tyrant haa of obedi •nee to that anil by which he is fed bnt the free-bom eittmns of this Republic know that tbe Government Itself is hut emanation from tArir will and, with a scrutinising intelligence, they watch the influence of its administration upon their interests. They will endure much—suffer more but I warn you, push not their forbearance too for, or the time :oay come when the tilling millions, impatient of the hard condition to which you irailii toduce them, will rebel against the power that oppresses, and, in all the majesty of frerwfed despair, rush to the rescue of those rights which you would wantonly wreet front them, and if that shall avereoms, happy will it be if their pathway be not reeking with fraternal blood, and strewn with the fragments of your glomus Republic.

83^00 10,000

1,000 6,000 5,000 5,000

fa*

8CPHEXE COURT OF THE V. STATES. JANUART TERM, 1843. Arthur Bronson, Complainant,"!

OK

John H. Kinxie and Juliette, his wife, Edmund Bussing and John S. Bussing, the

President, Birecrors & Coast panyof thejtaw^snkof^ iinoia, JavH*athaway,Mfsry^ Ann Wolcotf, Daniel S,, Griswold,Caroline Dunham, and Atonzo Hon^ngton. .j Mr Chief JuHlce TAHKS delivered the Court.

A ctrtjftcaie of di-

vition^tp-vpinion beluxm Ike Jadget qf Ike Pf'rrftif !f?AMi4 A/v

This case comes before the Court upon a division of ipinton in the Circuit Court of the United States for tne District of Illinois, upon certain questions which urose in the case, and which have been certified to this Court according to the act of Congress.

It appears from the record that on the I3tft ofJaly, 1838, John H. Kin^e executed a bond to Arthur Bronson. ^oftdition^djfor 4he payment of $4,000 on the 1st orJutyV1842t withlnterest thereon, to be paid semiannually and in order to secure tbe payment of the viiiiiiwuy hiiu iu viuci tv acvtiic tiro |wjitivut said samrNtf money ond4nwesi,-EiB«ie and wife, wr the same day, conveyed to the said Bronson, in fee simple, by way of mortgage.one undivided half part of certain houses and lots, in the town Of Chicago, with the usual proviso that the deed should be null and void if ihe said principal and interest were Only paid and Kinzie, among other things, covenanted that if default should be made in the payment of the principal or interest, or any part thereof, that it should be lawful for Bronson or his representatives to enter upon and sell the mortgaged premises at public auction, and as attorney or Kinzie and wife, to convey the same to the purchaser, and out of the moneys arising from such sale to retain the amount that might be due him on the aforesaid bond, with the costs and charges of sale, rendering the oVeiplus, if any, to Kinzie.

The interest not haying been paid, Bronson, on the 27th March, 1841, filed his bill to foreclose the mortgage. In tfie meantime, after the mortgage was made ana before the bill was filed, ihe Legislature of Illinois. on the 19th of February, 1841, passed a law, the 8th section of which provided that mortgages and judgment creditors should have the same right toredeem mortgaged premises sold by the decree of a court of chancery that had been given to tbe debtors and judgment creditors by a previous law, passed in 1825, in cases where lands were sold under execution. The law of 1825 authorized theparty whose land should be sold by execution after that law took effect to redeem them within twelve months from the day of sale, by repaying the purchase money with interest at the rate of ten per cent. and if the debtor did not redeem within the time limited, any judgment creditor was authorized to do so upon ihe like tertns within fifteen months from the sale. This act, which took effect on the 1st day of May, 1825, was, held, it seetns, not to remiees under a decree

or May, 18Z5, was I sales of mortgaged pr nre, and the act of, Fe

extend to of foredosnre, and the act ol. February 19th, 1841, a* bovo-mentioned, was passed to emorace them.

By another act of the Legislature of Illinois, approved tne 27th of February, 184K it was directed, that when any execution ahould be issued out of any of the courtaof the State, and be levied on any property real or personal or both, it should be the autyofthe officer levying sacli execution to summon three householders of the proper county, one of whom should be chosen by snch officer, one by the plaintiff and one by the defendant in the execution or in delault of tbe parties making such choice, the officer should choose for them, which householders after being duly sworn, by such officer so to do, should fairly ana impartially value the property upon which such execution was levied having reference to itscn&h value and that theyfshould endorse the valuation thereof, upon the execution, or npon a piece ef paper thereunto attached siened by them and when such property should be offered for sale, it should not be struck off. unless two-thirds of the amount of such valuation should be bid therefor. It further provided among other things that all sales of mortgaged property should be made according ttf the provisions of that act, whether tho foreclosure of said mortgage was by judgment at law, or decree in cltancety. It also directed that the provisions of this law should extend to all judgments that might be rendered prior to the 1st of May, 1811, and to all judgments that might be rendered on any contract or cause of action accruing prior to that da'v. and not to any other judgment than as before specified. These are in substance the provisions of these acts as far as ihey are material to tne present controversy.

On the I9th of June, 1841, after the laws above mentioned had been passed, the CircuitCourt of the United States for the district of Illinois adopted the following rules:— "Ordered that when the marshal shall levy an execution upon real estate he shall have it appraised and sold under the provisions of the law of thia State entitled

lAn

act regulating the sale «f property,' approved 27th February, 1841, if the case come within the provisions of that law and any two or vthftse householders selected under the law agreeing, may make the valuation of the premises required.

Before the sale any t«al-estate on ufecqiion the marshal shall give notice thirty days in ^-^wwspaper published in the county, then the notice shall be given thirty days before the,sale, by noticee as the statute requires. The Court adopt the 8th section ot the act of thisStaie to amend the act concerning judgments, tea. passed 19th of February, i841, which regulars the the sale of mortgaged premises, fa-, except where special ditection given in the decree of sale.' doptei. cember term, 18-tl, the bill filed by Bronson ss herein before mentioned came un for final hearing in he Circuit Court, and thereupon the complainant moved the Court for a final decree of strict foreclosure of said mortgage, or that the mortgaged premises should be sold to the highest bidder, without being subject to said rule and the act referred to. This motion was resisted on part ol defendants, who moved that the decree should direct the sale according to said rule and act-

And the Judges being opposed in opinon on the following points, to wit: t,. 1st. Whether the decfW'tfi this' iSSSf4 should bfe 80 entered ai to direct the sale of the said mortgaged premises according to the said statute of the State of Illin* ois above mentioned or whether the same premises shou'd be sold at public auction, to the highest bidder without regard to tho said law. fil. Whether the decree in this case shall or shall not direct the sale of the mortgaged premises, without being first valued by three householders, and without requiring two-thirds of ihe amount of the said valuation to bo bid, according to the said act of the State of Illinois. 3d Whether the terms of tbe mortgage in this case do or do not require it to be excepted from tbe opera-

n,

surround us, ol deep, pervading, hopeless distress and both sides. On the part of the complainant a printed 1 —1:~» i— 1 -j--.:— argument has been filed, but none has been offered on behalf of the defendants. As the case involves aeon-

pursuance of the act of Congress. And it is upon these questions, thus certified, that the case is now before us and the 8th section of the act of February 19th, and the entire act of February 37th, are set torthat large in the record, as the laws referred to in the above-mentioned rules of the Circuit Court.

Thecaee has been submitted to the Court for decision by a written agreement between the counsel on

atitutional question of great importance, we aliould have preferred a full argument at the bar. But the parties are entitled by the rules of the court to bring it before us in the manner they have adopted and it being our dutv to decide the amotions certified to us by the Circuit Court, we have besiowed upon the subject the careful and deliberate consideration which its ima a

Upon the points certified, the question is whether the laws of Illinois of the 19th and the 27th of Febraanr, 1841, come within that dauos ol the fOth section of the 1st article ef the Constitution of the United States which prohibits a State from passing a law impairing the obligation of contracts.

The laws of a State regulating the Pfoccsa of ita courts and prescribing the manner in which it shall be executed, qf course do not Mod tbe courts of the United States, whose proceedings must be governed by the arts ol Congress. The act of 1798, however, adopted the process used in the State ccmrts, as it stood in 178® and since then, the act of 1838 on tbe same subject, has been passed and the third section of this law d«f«e», that final process issued in judgments, and decrees in any of the conrta of the United States, and the proceedings thereupon, shall be the ssme except their style in each Stale respectively as were then need in the courts of such State and authorises the courts of the United States, if they s«» fit iu their discretion by rules ofcourt so far to alter final procsm. as to conform the same to any change which might afterwards be adopted by the LestglaHire of the respective States for the State court*. Any acts of a State Legislature, therefore, in relation to final process, nsssed since 1888, are of no force tn the courts of the United States, unless adopted by rales of court according to the pro visions of tins act of Conn«aa. And slthougb such Stats laws may have been so adopted, yet th«y ore inoperative and of no feme if in conflict with the Constitution or an act of Congrrss.

AS concerns the obligations of the contract npon which this controversy has risen, they depend upon ibe laws of Illinois us they stood at the time the mortdeed was executed. The money due was indeed paid in New York. But the mortgage given to seeare the debt was tnadl in Illinois, for real property situated in that State, and tbe righta which the mortgage acquired in the premises depended upon the laws of that state la other words, the cztsnag laws of IIIinoia area ted and defined theiegal and equitable obligations of the mortgage contract.

notb of this

l&OOff .. 000 ffsm w:

If the laws of the State patssed afterwards bad dtaie more than change the remedy apon eoocreets they *wsh! be liable toneoonsiita

thmal o^ectKM ^ate at pleasure the

Par nododbtedly a State may rega eoMidesof proceediiwia itsooarism

tkm te past toatncaoi well as fttstl. It may, •sample.ahrntsn tha period of time emhin whieh allhebarrtdhy tbesNtateoflteiitatieaa. It

UNVKI pWJNBr QCtCt 4n! i9t MRMHuj H#".

plements of agriculture, or the tools of the mechanffe ot articles of necessity in household furniture, sha% like wearing apparel, not be liable to execution onjudg ments. Regulations of this description have always been considered in every civil ertjf belonging to the remedy every

sovereignty, according urff*»#n and humanity,

Crrcttl^Krt^-'ft*? & to Mcore ite.it United 'f? srat ion. and toprc Putnittf JUikou.

reside in every State unjust ana hsi eofcin those pursuits and .well bong of evi :h a newremedy old onfe, debts that

to protect

4 necessatv tothe

neceata to the ex inanity. AJM$ ahfa less eonvepenl thai greefendetibe reeov cult, yet it will not fof

__ de

md difi*

yet it wilt not follow that tne taw is uneonstimtionaf. Whatever belongs merely to the remedy may be altered according to the will of the State, provide^ the alteration does not impair the obligation -1— tract. But if that whether it is done .on the contract the Constitution.

Tf» ao^t cai^l^ow the &mreme Goprt in ate of 6!ftein v^-Bfiidle, decided in' 18^3, lad refmnd) in 8 Wheat, 1. It appeare to have been twice elabor-

in that caseJt was insisted that the l&wsofKent sckf passed in 179T and 1812, concerning occupying elaias* obligation of the comnad ants of land impaired the made with Virginia in 1789- On the other hand it was contended that these laws only regulated the tetqedf* and did not operate on the right tb the lands.

In deciding tbe point the court says: "Ii is-oo answer that the acts of Kentucky now in doe^ion aferegulations of the remedy.' and not of tneright of tils lands. If those acts so chsnge the nature and extent of existing remedies, as materially to impair the rights and interest of the owner, they are just as inttch a violation of the compact as if they direct] overturned faHl rights and interests." And in theopiniondeliver^ fcr the court after the second areument ihe' same"tlne Is reiterated in language equally atrong (See page 75, TO, and 84). This judgment of the court is entitled to the more weight, because the opinion Is stated in the rwpeft of the esse to have been unanimous and Judge Washington. who was the only member of the court absent at the first argttment, delivered the opinion oti thfl*iljf cortd.

We concur entirely in the correctness of the rate bove stated. It is difBcuIt perhaps to drsw a line thw WOtlld bfi anntiMkfa in all nalHrMtl YlMrStiftHitAil* teratiom form of that tbe obligation of the contract, and the party under it, may in efTect, be destroyed by a remedy altogether, or may be seriously impar burdening the proceedings with new conditions snd r®' strictions. so as to make the remedy hardly worth pursuing. And no one, wf presume, would saythat there is any substantial difference between a (StftMPajtive law dedoring a particular contract or Class of contracts to be abrogated and void, and one which loop away aft remedy to enforce them, or encumberedit with conditions that rendered it uteless or impractnP1 ble to pursue it. Blackstone, in his Commentaries on the Laws of England, 1 vol., 95, after having treated of the declaratory and directory parte Of the law, defines the remedial in the following words: "Tbe remedial part of the law is so necessailr.a eoftsequence of the former two, that laws must be fery vague and imperfect without it. For in vain would rights be declared, in vain directed to be observed, $f there were no method of recovering and asserting those rights when wrongfully withheld orinvaded. This% what we mean properly when we speak of the prortj^ tion of the law. When, for instance, the declaratory part of the law has mid that the field and inheritance which belonged to Titius1 father is vested by his deafn inTitius and the directory part has forbidden any ohf to enter on anothers property without the leave offife owner if Gaius after this will presume to take poas«%sion of the land, the remedial part of the law will thwl interpose its office will make Oaius restore thepdfesession to Titius and also pay him damages for the invasion."

We have quoted the entire paragraph because*, shows in a few plain words, and illustrates by a familiar example the connection of the remedy with the right. It is the part of themuncipal law which protects the right, and the obligation by which it enforces and maintains it. If is this protection which the clarfe in the constitution now in question mainly Intended to secure. And it would be unjust to the memory Of the distinguished men who framed it, to suppose that it was designed to protect a Mere barren and abstract right, without any political operation upon the business ol life. It was undoubtedly adopted as apart of the Con» stitution for a great and useful purpose. It was to maintain the integrity of contracts, and tosecure their faithful execution throughout this Union by placing them uiK der the protection of the Constitution of the U. States And it would but ill become this court, under any circumstances, to depsrt from the plain meaning of the words used, and to sanction a distinction between the tight and the remedy which would render this provision illusive and nugatory—mere words of form—-si*

We proceed to apply ^Hiese principles^ the esse before us- According to the long settled rules of law aim equity in all of the States whose jurisprudence has been modelled npon the principles of thdeommon latf the legal title tothe premises in question vested in tlfe complainant, upon the failure of the mortgager to comply with the conditions contained in the (rovisf. And at law he had aright to sue for and recover the land itself. But in equity thia legal title is regarded as a trust estate to secure the payment of the money and therefore when the debt is discharged, there is a resulting trnet for the mortgager.—1. Peters440. Conrad vs. The Atlantic Insurance Company. It is npon this construction ol the contract thst courts of equity lend their aid either to the mortgager or mortgagee in order to enforce their_ respective rights.—The court will, upon the application of the mortgager, direct the reconveyance of the property to him upon the payment of the monev, and upon the application ol the moiigngte it will order a sale of the property to discharge the debt. But as courts of equity follow the law, th# acknowledge the lent title of the mortgagee, snd never deprive him of his rights at law until his debt Sis paid and he is entitled to tbe aid of the court to extinguish the equitable title of the mortgager, in order that he may obtain the benefit of his security. Ff»r this purpose it is his absolute and undoubted right aider an ordinary mortgage deed, if the money is npt" paid at the appointed day, to go into tbe court of chsM eery and obtain its order for the sale of tbe whole motfU gaged prcperty (if the whole is necessary) free a ad discharged from the equitable interest of the mortga* ger. This is his right by the law of the contract, aid it is the duty of the court to maintain and enforce ?l. without any unreasonable delay.

When this contract was made no ststute had beta passed by the Stste changing the rules of law or equity in relation to a contract of this kind. None strife st least has been brought to the notice of tbe conrt^ and it must therefore be governed, and the rights of the parties under is measured, by the rules shove Stated. Thev were the lawa Of Illinois at the time, and: therefore"entered into the contract and formed a of it without any express stipulation to that effect the deed. Thus, for example, there is no cove

in the instrument giving tbe mottgsger the right to deem by paying the money after tne day limited in n* deed, ana before he was foreclosed by the decree of tab court of chancery. Yet no one doubts his right or bia remedy for by tne laws of ihe State then in force, this right and this remedy was a part of the law of contract without any express agreement of the parti So a'so, tbe rights of the mortgagee as known to laws required no express stipulation to define or set them. They were annexed to the contract at the ti it waa made, and formed apart of it, and any su quant law impairing the rights thas acquired, ii the obligation which the contract imposed.

This brings as to examine theatatutee of which have given rise to this controversy. As cqe~ cerne tha law of Feb. 19,1M1, it appears to the cotprl not to act merely on the remedy, but directly upon tha contract itself, and to engraft upon it new conditions injurious and enjost to the mortgagee. It declares that although the mortgaged premiaee ahould be said under the decree of the court erf chancery, yet that g» equitable estate of the mortgager shall not be esm*guadied, bat shall continue for twelve months after tbe asle and it moreover gives a new and like ekatt which before had no existence, to the jafanent creditor, to continue for fifteen months. If such rights may be added to tbe original contract, by subeeqtreat legislatrao, it would be difficult tossy at what point they must stop. Aa equiieble interest in the premgsea nay in like manner be conferred upon others^andljMi right to redeem

1

mortgagee of tl the property unsaleable for anything This law givee to ttk? mortgager and to the jadgwaat creditor, an equitable estate in the prsasisas, neither of them woaW haw besn entitled ta, oi the original contract. And these new imerests aa* directly and materially uteonfiiet with those which the mortgagee acquired wl#^the mortgage waa made. Any such modification of a eaauaet by sabseqoeotJegielatiee. againat the eonSsnt of one of the unquestionably impairs its obltgatwaa, and is ted by tbe Conetitution.

The aecond point certified, anseannder the la Feb. 87,1841. The obasrvationa already msdei lation to the other act apply with equal force ta his true that thia law apparently octs upon the ret and net directly upon theanntiast. Yet i«a e&ct deprive Uw perty of hisM*-exietiaf right to lor tha mortgage by a aala of the premtaea. and to apoa him coaditioaa which would trsqueaUy taidfsr any aale altogether impossible. And thia lav Is |u|i mora obj«tko*ble beeaaBe it is not a geMsal oaaaod preacribtng themodeof sefiiafcmortgaged prsmieas»n all eaaeaibat is confined to indgmspts tendered and contracts made prior tstks Mif,. WJ1- Ihe act was passed on thetttltel February, in that year and jt oHratea mainly on past cpntracts^ood no* an future. If the eoniracte tataaded toi haaftetod bp it had been apaaficaUy aBju»erat«ii in the law, a«i tfcna coaditioaa applied tham, wbjle tha saw Jmsiii|nieii wasataha iafs

fording no protection, and producing no practical n|i Representatives so resigning, three have been re-elect ettit. V. .. IP ed to the same s-Cuts inlhe same Of the more distinguished men in the Twenty-Sev-enth Congress, one hss been President and one Vice

jm* J*

ry course of legal proceedings, no one would doubt that such a law was unconstitutional. Here a particfe for daft df contracts is selected snd incumbered wirn »t»j— new conditions. And it can make no difference

with the

niract is made tthe more n\t containe^alo the inthe mortgagee'w default of

express whereb

guthorized ta enusrv on the premisi* and "ic antiioii wl'to retainl^ut of the tha ainotipCdue^

.^int and'c^piSs^ witf^fteja^ now

anucr lrm,:— without seeing that both of these gets matenilly interfere with the express agrwment ol parties contained in this covenant. Yet the rignt ia substantially nothing discharged oi the

3

in order to ob-

ta'in -his money. Now, at the time this deed wasexecarted, tha right to«ell* free anddiaoharged of the tabW est axe or tie mortgager, Wasa

part^|^ery

dinary contract of mortgage in the State, wifhout the

betweM tMngh?annexed law antl that given by the covef^ttMMMta in- thiat ttet. ipuhe fornier Mt, the right of «lte must be exercised under the direction tff the court Of chancery upon such terms as it shall descrflia, and the aale made by an agent of the court in the latter, the ssle is to be made by,the party himaelf. But even under this covenant the Sale made by Uw party is so far subject to the supervision of the court, that ik will be set aside «nd a new one ordered if reasonable notice is not given, or the proceedings bt regarded in any respect as contrary to equity and justice There is, therefore in truth, but little material difference between tbe rights of the mortgagee with or without 'this covenant. The distinction consists rather in the fo*m of the remedy, than in the substsntial right. And, ss it is evident, that the laws in question invade the right secured by this covenant, there can be no sound reason for a different conclusion where similar rights are incorporated by law into tbe contract, and form a part of it at the time it ia made.

Mortgagee made since the passage of these laws must undoubtedly be governed by them for every State haa this power to prescribe the legal: and equitable obligations of a contract to be made and executed within its jurisdiction. It msy exempt any property it thinks proper from sale lor the paymet of a debt, and may impose such.conditions and rertrietions upon the creditor as its judgment and policy may dictate. And all future contracts would be subject to such provisions snd they would be obligatory upon the parties in the eourts.M the United States as well as in those of the State. We speak of course of contracts made all to be exeecuted in the State. It is a case of that description that is now before us and we da. noi think it proper to go beyond it.'

Upon the questions presented by the circuit court, we therefore answer— 1st- That the decree should direct the premises to be sold at public auction, to tbe highest bidder, without regard to the law of February 19, 1841, which gives the right of redemption to the mortgager for twelve months, snd to ibe judgment creditor for fifteen. 2d. That the decree should direct the sale of the mortgaged premises without being first valued by thref householders, and without requiring two-thirds of the amonut of the aaid valuation to be bid according to the law of February 27,1841.

The decision of these two questions disposes of the third snd we shall direct these'ahswers to be certified to the circuit oourt.

Test: WM. THOS CARROLL. "A Clerk Sup. Ct. S.

THE TWENTY SEVENTH CONGRESS. 1 The Washington correspondent of the New York American thus speaks of the Congress whose public labours have just ceased:

The Whip Congress is remarkable for many peculiar alrcttnstances distinct snd apart from political characteristics or sots. It has now been in actual session more than one year and a quarter, being now in the sixteenth month of its legislative labors. No other Congress ever Sat twelve months. This has set more months, more weeks, more days and more hours than any other sinco the beginning of the Government. It has made more speeches, done more business, received more petitions, examined more cases, made more reports, printed more documents, acted on more resolutions, passed more private billa, hjected more private billa, passed more public bills, into acts and laws, rejected more public bills, bsd more bills vetoed, effected more and greater retrenchments, caused more reforms in the parliamentary rules, lost more members bv resignation, lost more by death, than any previous Congress. TBIRTEKW have died. SEVKH have lost their wives by death during this Congress. NIKE hsve married since their election. Twitw or more have lost their children by death during that time. Seven Senators and twelve Representatives have resigned. Of the twelve

President of the U. States two have been Sebretaries of State, one Secretary of tbe Treasury, one Secretary of War, one Secretary of the Navy, one Postmaster General, t*o Attorneys Genera), four Ministers Plenipotentiary, two Speakers of former Houses of Representatives, fifteen Governors and Lieutenant Governors of States and Territories. Six more have been the candidates of their parties for Governors of States. Three have been unsuccessful candidates for the Presidency. Three are now avowed candidates for the Presidency. Two others have in former periods been the candidates of their party for the Vice Presidency of the United Statea

Ol ihe Members OT the two Houses of this Congress, three were Members of Congress more than forty years sgo. Others have been members for more than twenty years in unbroken succession. Several others were Members more than thirty yeara ago- Several others more than wen.y years ago. Three are more than seventv years old. One is only twenty-eight.

Ofthooe who have been Members of this Congress snd have been eminent in the public service, and who will not be Members of the next. I need only name CLAY, CAUIOCIT, Preston, Sergeant, Granger, Fillmore, Saltonstsll. Marrow, (among the living,) Southard, Lewis Williams, and Lawrence, (among the dead,)— to Show that the next Congress can not replace to the country what it loaaain this. I might lengthen this list by the addition of many faithful, devoted, distinguished. honored snd belovsd patriots who now leave the public service, some for a brief interval, no doubt, —but too many forever. The aggregate of fame, stability, fidelity and worth which tnis Congress has exhibited to the country, has been "rarely equalled,—never excelled."

'':r:

1 SMITH* i_,s" v.

,»*?The Philadelphia. Enquirer holds the following language in relation to our distinguished Ex-Seoator*

1

"SENATOR SMITH, OF INDUNA.—This cJisttnguished gentleman, will in a few days retire from the Senate of the United States. Most of his friends at the opening of this session of Congress believed that he would be re elected to the high place, that he bad* filled with so much ability. One of the Representatives of the Whig party however, thought proper to cast his vote against Mr. and by so doing has offended the whole Whig party of the United States. We have taken a deep interest in tbe political advancement of Mr. Smith, on account of his being a native of Pennsylvania. We learn from all who have heard him, that he is an able debater, and from the perusal of his argumentative speeches, we class him among tbe soundest heads of the country.

MiLtBaisii.—The

:„.-.„A

Berks aiid Schuylkill

Journal states that the editor informed by a gentleman from Wilkesbarre, that tbe Miller theory has gained many converts in Luzerne. Such baa been its effect, that a store keeper naimd Gay lord, residing about six mitoe below Wilkesbarre, gave notice a lew days ago, that his store was at tbe service of the public, "free gratis and for nothing." The Deputy Sheriff of the Gannty attended, by reqoest, to hand out tbe goods. When the Journal's informant passed the •tore, a large crowd was in attendance, consisting chiefly of old ladies with well crammed handkerchiefs. The stock of goods was in tbe way of rapid disposal—except tbe crockery for which there was little demand, inostiof tbe people seeming to think that they had enough of the article to last during tbe term* As to the progress of Millemra, it is said that a great many people seem to be *co«iiiiig uiio the measurer

HEW aKAJHMO TO AW OU A9J0B.—"A politician is good for nothing till he has tried both sfdea—Hke a bock-wheat cake, be must be turned before he ii fit for use,"

'3

FOREIGN NEWS.

eMrrUml of ihe Great VPftern. 7 DAYS L4TER F$QM EUROPE^ **Frmn tie Pktiadefjtkilt£[.*&* GaeMe.

ThC 6rest Western reached New York at 1 otioci M.*n SnndayjEfternoon, bringing daui sfe«en day!

Thereat Weatern left Key Road at 5 P, M^fn the llth»|f Febroar#, and grriwsd at Feuobdi (MatWHa,) at ol P-Jft on the 19th February—took in 70 tnalcool, «M9«ed at WP on «he»th- jnwed^^f Hook onfilrelf 12tlf: Front 15th FefcMfty MrtHiOthing but western winds, generally atrong, with heavy sea. It ia worthy of remark that theengines of the

tern have been going just

Great Wes­

20

daya without an inaiant

stoppage— and that she has steamed a distance of 4700 miles, with consumption of 660 tons of coala feat beiiexed to be witbout a precedent in the annala of steam navigation.

ENGLAND.-

RIGHT or SEARCH.—House of Lsrda, Fabl7. Brougham entered into some explanattjaLwith a view to removea tmupprelwnuon entertai^pBV the Attoc-^ ney Generic of France (St. Dn^n,)aslo what had fallen fro%hini (Lord Brougham)- on former oocasion relative to the objectibna on the part of America to any treaty containing a clause recognising the right of search. In IMS the Amerfcam rad sent a treat? to this country agreeing to the right of asarah, hat objecting to its extension to the American ports a reasonable objection, because it Was-unlikely that slave vessels should be in the waters of New York aa in those of tha Thsmes. If ihisone point had beon waived, the right of search might now have been in existence for tbe laet nineteen years.

THE WASHINGTON TBBATY.—Houae of Lord^ Feb. 9—Lord CampbeU wished tp but a ^uection to tha government which they wotfh) have no difficulty in anaWering which waa, whether they intended to introduce a bill into parliament,for the purpose of carrying out the 10th article of the treaty of Waahington, an article which he highly approved. It waa respecting the delivering up of persons who had committed crimes in England or America., Unless a bill were introduced that article would be useless in this country, as, by the common law of the land, no person could be given UP-

Lord Ashburton said, that although be waa not so well acquainted with the law as the Noble Lord, yet he knew very well that unless an act of Parliament was passed the tenth section «f that treaty would be useless. Me had written to the American Secretary etating thia, therefore, there waa no doubt but her Majeat'y government intended to introduce an act for the purpose, of carrying out that ,arti«(e. Although, it .required an act in tbia country, in America it did not.

HOUSE OF COMMONS, Feb. 9.

CANADIAN WHEAT.—Mr. Charles Wood, In the absence of Mr Labouchere, moved for copies or extracts ol any communications which have taken place between her Majesty's Government and tho authorities of Canada, respecting the duties levied on wheat imported from the United States into Canada, or from Canada into the United Kingdom, since the first day of January, 1842.

Lord Stanley acceded to the motion, as it would en* able the Home hereafter to enter on the proper consideration of the subject.

Mr. Villiers, Mr. M. Gibson and Mr. Ewart pressed Lord Stanley to say, whether or not the government intended to bring in a measure this session to alter the scale ol duty on the introduction of colonial groin.— But the noble lord declined to do so, until the papers were before the House.

SPAIN.

The conduct of Gen- Seoane at Barcelona—his ssverity in exacting the contributions—his quartering* the soldiery on all the principal inhabitants—his putting down the freedom ol discussion in the press,snd throwing the writers into prison, and suppreaaing throe journals—this system of severity is producing its fruits, end another revolt, not less formidable and bloody, may be anticipated. Indeed, rumors were current in Paris that serious disturbancea had made their appearance at Barcelona, but they do not appear to be well funded,— The city was in aatate of tne greatest fermentation.— Secret meetings were held, and all the preliminaries for another revolt w$re apparent.

PORTUGAL.

The negfttiationa for the new tariff continue, but as Sir Robert Peel stated in the houae of Commons a few nigbta ago, he is tired of the procrastination exhibited by the Portuguese authorities.

RUSSIA.

RUSSIAN TREATY—By thia treaty Russian and Eng lish vessels are placcd on the same footing, on entering the ports of Russia and England. The commerce between the two countries ta chiefly carried on in Eng liah ships. The treaty baa no reference to the tariff

FROM THE EAST.

The Overland .Mail reached London on Sunday night, With Intelligence from Bombay to the 3d of January, and from Macao to the 19th of November. Aa rnga'da China, events were progressing favorably. The Queen Ship Hlntd had arrives at Hong-Kong, an her way home, with

JC1.500.0U0

more dollars, part of the first

instalment. That placer is ceded in peipetufty to England, and the Hong merchante are virtually defunet. A friendly feeling had succeeded the belligerent one, with which the English and the Chinese favorably regarded each other. Before leaving Nankin, the Imperial Commissioners gave a gratia entertainment to the officers of the army and navy at which professions of amity were indulged in on both aidea. The British forces were to be stationed in about equal divisions st merchants decrees of the

Fowchow-

foo, at Ningpoo, and at Shanghai At the laat mentioned place. Captain Balfour is to be stationed as British Consul General. Sir Hugh Gough, themilitsry commander of the expedition, was about returning home, and Sir Henry Pottinger was expected in tbe begining ef December at Hong-Kong, to arrange about a commercial tariff.

LONDON COMMERCIAL SUMMARY Commercial matters wear a dull appearance The Money market ia heavy—the Cotton market is in a atate of atagnation —ana the share market has been receding for some time, even in the established lines The existing depression may be accounted for, toa great extent, by the uncertainty which pievailed re-

Meeting the commercial movementaol the government. Engagements in many instances were postponed until it wss definitely aacertained whether Sir Robert Peel would advance farther thia session in the direction of free trade. He has stated emphatically that he will not.

Again, pending existing negotiations for new tariffs with France. Spain, and Portugal, a good deal of capital is inert anj^trade is correspondingly paralysed. In the manufacturing districts, where a month ago, matters were beginning to wear a more active and healthy appearance, the recent ministerial fiat has scted likea wet blanket, damped the energiee, and depressed the hopes of the mill owners. Money continues sbundsnt, and only waits safe channels for invest mens A considerable amount of specie hss been shipped of Iste to the United States, and every paeket is tskingout mora or less. The average salea ol cotton up to Thursday were 5000 daily, but tbe demand has received a partial check since, and prices hsve receded a trifle. "4

LIVERPOOL MARKETS, Feb. 11. AMERICAN PROVISIONS—We have had a bet ter inquiry for Pork since the 4th inst. and several parcels have been takerf for exportation to the West indies with the view of their being tended there—for sale previous to the 5th April, on which day the new Colonial Act will come into operation. Beef remains an changed, and we have nothing further to report as regarde Batter- At a public sale on the 6th inet., Cheeee went off slowly at a reduction of 2s. to 3s. per cwt. on the finer kinds. Lard ia in good demand at full price. 400 kegs (qualities not first rates) were sold by auction at Ms per cwt.

Correspondence if the Baltimore Patriot. \x NEW YORK, March 13,1843. mSACTItOUS EARTHQUAKE. Captain Knowlea^of the schooner Ellen, arrived thia mom tag from St. Tbomaa, informs ma that previoaa to hia aailiag, several passengers bad arrived from Gaudaloupe, who describe the earthquake there aa having been moat diMistroaa. It commenced at 10 o'clock in

prostrate.

000 inhabitants.only one-third escaped. The American Consul waa hansd in tha rain, and dag oat with both legs shockingly injured—lie underwent an oiopation, but died immediately after. 400 bodice had been taken boa the ruins end carried oat to aaa to prevent a pestilence. Of a regiment afaeldiers, 800 strong, 70 only were left alive-

Mr. Ridgely, a comedian from Phils pel pha, with bie son, made aa extremely narrow eacape—unbanned —by springing from a window.

Tha massive fortifications wars a heap of rains, and the moath of the barbar waa completely choked ap by tbe rocka forced from tha bottom of tbe aea. It waa feared that tbe vessels ia port would never be gat oat.

At 8t Bert's the church and several other buildings were tbiawa down, and tbe earth opened in theceatra of a street to the width of a foot, |he Same extending 600 yards in length.

Only ten lives were lost ia Atttigoa, although almoat •very bailding in St. John Is was thrown down-

&unsnt»r->The jm Ohio, Tbe next Is Pansylvataa, The third ia New York, Tennnesaae givea the largest Dumber

Virginia raises the west tobacco, Keatocky next, I iimisiens raises Aa moat sagas'

J?.

'rV'^y'

-^r

Basbsla. 17.§79^46 UW*724H9 U^09j044

ct,

bushels of com, Kentucky next, ,/ Ohio third.

4l,7«7.430 '3ft.453.161 founds79,450,192 66JMJBT4 8S,ti»^l»

...

JR© TBS, EDITOR OF RI& C&IJTTIGR ^'jt'he editor of the Exprass lukvtng in reality (thoogh, a*iie uiidoabtedly intendnd it, nnder a disguise,) fetffcd to commaftjeation of mine^ published 4n yoarpaperof the 31th inak, I must again aak the use of ynor ebfunins to make a few cormnenls upoii the reply. If the editor of the Express had really intended his editorial remarks is a reply to something which had been published in the Lafayette Joornalf he must have rather a poor opinion

or he would have /iutblMjfte^ t^eomments of thq edUot of ihe Journal^ Imi as the editoriai of the Express contains no tftidtit^ont ef remarks made by the editor of the I^fnyette Journal, it is a fair infe!^ fbat hisf tllur* sionsto tho editor of ihe Journal is all blar^ ney, vised to cover his real desitgns. Ther Editor of the E^rees rpiotes frdai fhe same letter of Gen- HAaaisox—to prove that ther qpinion of Gen. Hv was that a ita'fififjof the' United State# wai unconsHtiitibnal^--th(a I quoted from to show that stich could hot have been his opinion there is though-this" remarkab^ difierence in our quotations, thai I quoted the passage as i^ is actually published, whilst the editor of the Express saw fit and proper to omit that pa ft of the letter, beting eight or ten lined, in the middle of the quotation he aotunlly makes—the ptkrt omitted by him contains the reply of-Gen, Ha& BISON to the question whether ho would sign an act to charter another Bank* I know the editor of the Express has a peculiar faculty of putting thai and that together, but the leditor should be cautious and quote cortratitly* for perchance he might commit that same act of cruelty of which he charges others to be« ware.

If the editor of the Lafayette Journal haa really called in question the correctness of the remark made by the editor of the Express, it wili go far to prove the fact that the Ex* press is mistaken in what was really the opin ion of Gen. HARR^ON. The editor of the Express further says, that he takes no notice of those who adopt a fictitious signature—That is an excellent rule to shield himself with" when he intends his reply ahould be personal le —but when it isto sustain a statement, thep^ truth of which is questioned, it appears to met it matters but little over what signature communications are made ,however, it may be a good rule, and if so, he should earry it intof' practice in admitting publications in (he Ex4'-. press. 1 thank the eaitor of (be Express forll tendering me the use of its columns but as intend, in 1844, to be found, as the editor of the Express was in 1840, contending for "A: Bank, 1 must decline the use of malting my communications* if any more, in such papers as 1 am well assured will attempt to distract the Whig party, and cast cold water upon tho Whig principles of 1^0, .^CONSISTENCY.

HENRY CLAY*

"Onward,^tgktIn

noticing Aw^wnfs whieh

ia evident in the feelings of tha aouth-weat towarda Henry Clay, now that tha mists of prejudice and tbo calumnies of foea are removed ana contrasting the difference ol his reception ten or twelve yeaim ago, with what it haa lately Jieen, when "thtetld suspicion, the deep hate, the rooted prejudice, haa all paased swsy, snd political frienda and oppouente slike press eagerly onward to teatify.by their acta thai? appraeiation ol hia worth aaa man. and their respect tor him aa a a ta teaman," that atauoch paper, the CtiHisla Heraid.

The Eagle, boy?

1 111 1

'iuAA'

Ai-

Ties ot

tense action the noblest energise amT patriot's aoul.n In contemplating thia change, we ate ford by rorninded of the mother a charge to her eon, eo beautifallyk expraand by Biahop Doane "What ia that, motherf t? t»

v.

Proudly careering tile course of joy Firm on his own mountsin pinions relying, be* He breasts ths dark atorm the red boll defying, He swerves not hsir, bnt been onward, right on. ~m Boy! may the Eagle's flight ever be thine, Upward and onward, ana trnb to the line.'*

1

It is a noble fortitude—thia nnllinebing fidelity right purpoaea, through good report andevil report, which hta wrought this mighty chsnge in the public eetimation of Henry Clay, and raiaed htm from the apparently hopeleas condition ol aproetrateand rained politician, to the very acme oi the peopled regard and affection. Like the Eagle, hia course haa been "on* wsrd, right on,'* with an nnblenching eye aad aa un- y? quailing pinion. It were well if all pubUe men, on entering upon political life, would a'cjy and emulate bia example. It ia the only sure coarse to the attain*! mensof enduring feme. It may, aa baa been the easel* with Mr. Clay, lead to temporary bamahment from, popular favor but in tbe end it will moat certainlyr conduct him who ateadily pureuea it, tothe highest I round in ths ladder of jaat ambition. For, "truth iaf omnipotent, and public juatice certain."—PAifa. JTa-. rxm. '«f

VIVE LA BA6ATBLLE*

A WICKED HOAX.—-There was published in the Madivmian of Tuesday last a formal account of a meeting said to have been held in New Brunswick, (N. J.) of "Old School Republicans," at which resolutions were

Ciseed

declaring their preference for Mr. Tyr, for President, and Levi Woodbury for Vice President, at the next Presidential elec- s, tion denouncing the late rejection, by Coogress, of the Exchequer bill as "a direct in-K suit to the intellieence of the American People,"

AEC.,

to

Under this bead we recently copied fron| the Madtsonian a postscript of that paper an* f'nouncing that Mr* Tyler had been nominal-f ed for the Presidency by a meeting of a tbou-i sand persons in New Brunswick, (New Jer- -r sey.) The National Intelligencer has the following notice of tbe meeting:—Bait. Pat.

and directing aaid proceedings'

to be published in tbe Madtsonian. Letters have been received in this city from respec* table geotlemen of New Brunswick, under date of Thursday last, declaring this publication to be

Motl

a humbug. No such meet­

ing was held, and no such persons as are named in it are to be found. The only a-.-musing part of this imposition upon the ere- lit dulity of tbe readers of the Madtsonian is. the language put into tbe mouth of tbe chief orator on tne occasion, who is represented to have alluded to "the contemptible efforts of'' a few old party leaders to manufacture puft. lie opinion to deceive the appointing power at Washington for their eejfieh pmrjpoeef* ia a maoner to command "embustastic accla* mat ion." After which, the resolutiocM "were" adopted with entire unanimity!"

Do you pay for your paper, or da play the soeak, and borrow it?

ps^swp

I

'ۥ4

-'J

Ga*. Ciss is TBI Fisto*—The Hoo« Lewis^ Cess [we learn from the Philadelphia Ameri4 can] has declared his intention of being aj| candidate for the Presidency, always subout-g| ting to tbe decision of the Democratic Nation*' al Convention* Ho avows hit opposition to a| Nattooal Bank bat is in favor of incidental Protection to Hoow Industry. Tho list of aspiranu to the favor of the great Democratic^ party is being added to every day. /"Therewill be soma troublous times in deciding oof their respective merits. -Bait. American*