Prior to the passage of the Mercantile Law amendment,63 the holding in England was that the payment of a judgment, even by a surety, extinguished the judgment. But by this act the right was given to the surety, who paid the debt of his principal, to have assigned to him, or to a trustee for him, every judgment specialty, or other security which shall be held by the creditor in respect of such debt, or duty, and such person shall be permitted to stand in the place of such creditor, and to have all his remedies, and if need be, to use the name of the creditor in any proceeding at law or in equity to recover his indemnity against the principal debtor. In the United States the generally accepted principle in this regard is, that where a surety pays the judgment, whether it is a joint judgment against both surety and principal, or whether it is a judgment against the principal alone, he is entitled to be subrogated to all the rights and lien of the creditor on account of the judgment.64 And it is held that if the creditor's judgment is against several co-sureties the surety who pays such judgment will be subrogated to the creditor's rights on such judgment as against his co-sureties.65