The Sun.
London, England, 1841-06-07 00:00:00

THE USURY LAWS.

The following• are extracts from a pamphlet
by a " Lawyer," on the bad policy of the partial
repeal of the Usury-laws:—

The principal arguments brought forward in support
of this measure were, that it would facilitate the circula-
tion of money, and be more beneficial to borrowers, 'and
consequently to trade and commerce, than the expensive
mode of granting annuities, or the taking of goods at
exorbitant prices in part upon discounting bills—evils no
doubt of great magnitude.
First, with respect to the increase of the circulation.
When it is considered how many actual usurers and ex-
tortioners existed before the first partial repeal, and how
many more would have existed but for fear of the law ;
does it require much sagacity to prove that these
per ons immediately after the first partial repeal in
1834, commenced their well-organized operations against
their fellow-men, and have continued them to the present
moment.

Each of these persons collects and hoards his money
in his strotyr,-box, or at his banker's, for the purpose of
using it in discounts upon exorbitant terms, varying from
twenty to fifty.per cent., and often much higher. They
accumulate their respective hoards in preference to pay-
ing their own lawful engagements, or investing their mo-
ney in Ale usual modes of trade or commerce, or of ad-
vancing it in the ordinary way. Some have their hoards
to the amount of 10,0001., some more some less, but every
one to a considerable extent.

Assuming, therefore, that only two or three of these
men exist in every street .of magnitude, and that every •
district teems with them in London, Westminster, and
the vicinity, and in every trading town in England, a fact
which is undeniable • and assuming, as, beyond all doubt,
the fact is, that much of this enormous mass must remain
continually unemployed, not, indeed, because the public
have no occasion for it, but because no person will borrow
at so ruinous a rate of interest, except upon occasions of
absolute necessity, is it not obvious that the circulation is
much cramped and diminished ?
This system, injurious and discreditable as it is, has
now extended itself to the most respectable merchants
and bankers, and even to the Bank of England itself, who.
are driven by this law, and the practice arising out of it,
to adopt the same system of extortion, although not to so
great an extent, in their own defence. even clubs are
now formed all over the town, for raising money amongst
the members to lend upon exorbitant terms ; and the
whole kingdom forms, as it were, only two classes, viz.,
the plunderers and. the victims ; whereas, if the Repeal
Laws had not passed, all, except the old determined, sys-
tematic, and shameless usurers, would have lent their
money freely at 5/. per cent., and been satisfied with it,
or they would have circulated it in trade or commerce.
The result of the present system is, that, although no
one can calculate the aggegate amount of the several
hoards, money to an enormous extent .is kept idle and
unproductive, which would otherwise have come into
circulation. If any one doubts the truth of my
assertions, let him inquire among the trading classes
and professional men, and, indeed, of any persons, ex-
cept those who are base enough to live upon their
neighbours' necessities, and he will be convinced of
the ruinous scarcity of money. The names of some of
these wretched men have come to my knowledge, and
I should feel little difficulty in holding them up to public
execration ; but as they are now sanctioned by 'the un-
wise law I have referred to, there would be little use, and
perhaps some hazard, in doing so.
It seems to me undeniable that, instead of increasing
or facilitating the circulation of money, the effect has
been directly the reverse ; .and it is by no means an
exaggeration to assert, that in the aggregate, taking
the whole kingdom, the amount constantly kept out of '
circulation cannot be less than several millions. It is
acknowledged on all hands that there is, and has been
for some time, an awful scarcity of money amongst all
classes ; and I am satisfied that the repeal of the Usury-
laws is the principal, if not the sole cause.
Let us, however, for the sake of argument, admit that
the repeal does facilitate or increase the circulation of
money—that brings me to the second question ; viz.,
Whether it does so beneficially to the public ?
I can perfectly well understand that if a person has
a speculation, or a new invention on hand from which,
if successful, he is likely to derive very large profits, it
may answer his purpose to pay the large rates of in-
terest which the money-lenders are in the habit of de-
manding ; but how few, comparatively, are these cases,
to the numbers requiring money accommodation ?
Ninety-nine in every hundred persons, who apply for
accommodation, consist of regular tradesmen, and men
engaged in some professions, respectable men, the great
stay, in fact, of the nation, and bearing the greatest
burden of the State ; struggling against the tide, and
endeavouring to preserve their credit, and conceal their
distresses, they submit to impositions, which, under
other circumstances, they would not think of doing, until
their whole substance is absorbed, and nothing is left
for their more honest creditors ; their profits, which
should have gone to maintain their families, capital and
all, are gone into the coffers of the usurer. And it is fre-
quently made a charge against them, in case they become
insolvent or bankrupt, that they borrowed money at
so ruinous a rate. Nor do I say that they are alto-
gether free from blame in that respect ; but the blame
should be more properly fixed upon those, who, devoid
of all feeling, except the love of gain, extort from their
victims such heavy discounts. Will any tradesman tell.'
me that he can afford, out of his fair and legitimate pro-
fits, to pay twenty, twenty-five, thirty, and upwards, per
cent. for the use of money ?—it is absurd to suppose it.
There are men in this town who receive as much as 50/.
.per cent., and sometimes more, for discounting bills. These
men always endeavour to enable the poor 'victims to
believe that they are doing him a great favour, and that
th,,.v are his friands ; and although the devil may possi-
bly be peeping over their shoulders, with his finger to his
nose, yet their love of money enables them to fancy that
they really are making a sacrifice: by parting with it up-
on such terms. '.l here is no satisfying avarice--it is a
advice ? If
craving,itis
gi.ti
hungry,atied7tillree morer-to-b it
satisfied.passion, and, the
more requires.
Will tie che t tradesman,
pa r
particularly and
concerns,
others
c
momen-
toes k
they will, let them with all possible dispatch call a pub-
e
lic meeting for the purpose of petitioning the Legisla-
lie r s t
a whom o
my this
ture for the repeal of the repeal laws ; and
let ever
.man at such public meeting denounce those who have
imposectexerbitant terms Ira him ; let ail such be held

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4 .&_\

up to public execration, and let the particulars be stated
,• .:iay be made
consistent with the importance of the subject.
In addition, let me ask, does the repeal of the Usury-
laws iwiictit or injure the morals of the people ? What
is the effect it has upon them as regards their duties
towards each other, and as regards their own eternal
welfar. ? If one man taken advantag• of the necessi-
ties of another, hr rAtortintr from bini more than
the article required is fairly worth, although
the law permits such extortion, what is the effect
it has ' upon the party so plundered ? Will he
not reason to himself, this man has taken every pos-
sible advantage of my necessities : he has, under the
sanction of an unwise law, picked .my pocket of so much;
would it be any sin to cheat such a man ? Can he, who
has so much and so successfully contributed to my ruin;
complain if I never pay him ? Surely not.; And thus,
by the law, morally speaking, both parties, as well the
debtor as the creditor, are rendered dishonest ; the one
becomes an extortioner, the other a cheat. And how-
ever false the morality of the argument alluded to, as
used by the injurad man, may be, it is one which natur-
ally occurs to, and it is well•known does occur to, and is
acted upon by, the mind of man. And although the
Legislature cannot command the morals of the people, it
is at all events their duty not to encourage a direct incen-
tive to vice.

ORDER OF ST. JOHN OF JERU-

SALEM.
The Austrian Observer publishes the following found-
ation charter of the renovated order of St. John ofJeru-
salem

" We, Ferdinand the First, &c. &c., declare for our-
selves and our successors, that it was a matter of. cor-
stant care of his late Alajesty our father, of illustriuis
memory, as far as possible to protect and support the
Christian order of Knights of St. John of Jerusalem,
which, during its existence, had done so much for a great
portion of Europe, and which suffered so severely from
adverse events. As we entertain the same desire, and
are convinced that the introduction of the said order of
knighthood into our Lombardo-Venetian kingdom must •
,)e advantageous and agreeable to the nobles of that
kingdom, we have graciously been-pleased to grant the
suit of the Deputy-Grand-Master, Bailli Carlo Candida,
and to allow a separate Lombardo-Venetian priory Of
the order of St. John to be formed, wherefore we ordain
3.nd decree—

" Firstly, that for the foundation of this priory the
church of the former order of St. -John, with the priory
at Venice, situated in the parish of St. Francesco della
Vigna in the quarter of St. Antonio, be appropriated and
become the property of the order, and that the sinking
fund of the Lombardo-Venetian Monte receive the suita-
ble indemnification for 'these -buildings from the
state Treasury. Secondly, it is our gracious pleasure
that the Prior for the time being, from -the day of his
by ourselves, or our successors, and as long
as he shall continue to hold the office, shall receive a
salary of two thousand guilders per annum, to. be paid in
monthly rates, for which receipts are to. be given
under the usual -regulations: -we allow
all such noble families in our Lombardo-Venetian
liingdoin as are desirous of so doing, to make founda-
tions in the .Said order, and -to enter, respecting .these.
foundations, into agreements with the superiors, which
agreements we promise, without especial reasons to the
contrary, to approve, in order that this order may be-
come suitably extended. Fourthly, ,‘ e decree that only
Austrian subjects shall be chosen as Priors of this order,
and we reserve to ourselves and our successors the spe-
cial right to confirm or reject the choice, in which latter
case the new election depends eqnally upon the good
pleasure of ourselves and our successors. Alto-
gether, it must be well understood that the
rules laid down by us for the order of St.
John, as well as those which we or our successors
may lay down hereafter, are to be punctually adhered to.
Fifthly, it is our pleasure that the order, as proprietor of
the aforesaid church and priory, do insert this foundation
charter in the common book kept for the securing of the
immoveable possession of the order. That thQ conditions
herein specified may be inviolably observed hereafter we
have affixed our sign manual to two similar documents,
one of which shall be deposited in the Registrar's Office
of the, Venetian province, and the second it is our
gracious pleasure to deposit with the Grand Prior of the
Order of St. John.

" Signed and published by our order, by AUTON FME-
DRICH, Count of Mittrowski, Knight of the Golden
Fleece, &c. &c., Honorary Bailli and Grand Pribr of the
Sovereign Order of St. John of Jerusalem, &c. &c., in
our capital of Vienna, sth January, 1841.

FERDINAND,
" A. F. COUNT MITTROWSKI,
" CARL COUNT JUZACIII,
" &C. &C."

CHEAP HOUSEKEEPING.

About fifteen months ago the, following advertisement
appeared in the Petites "Vic :—" "Wanted a • skill-
ful cook, provided with an excellent character. Wages
1,500 francs. Address to Baron rue des Saints
Peres." Thomas Renoult, an eleve of the greateStmas-
ters in the culinary art, called at the above address,
and was introduced to the Baron Chauvier by a ser-
vant in a splendid livery. Renoult explained the
object of his visit, when the Noble Baron said,
" You have come rather late, for I have already
received various applications ; your certificates of mo-
rality and capacity are, however, so bright that you shall
have the preference. Consider yourself in my service
from this day. You are aware that the wages are
1,500 E, which, with sundry little profits ' --" AS
for that, Sir," exclaimed Renoult; " you may rest as-
sured that never....."—" Well, well !" returned the Ba-
ron, "I meddle not with those matters, and provided my
table be properly served, I close in); eyes upon such de-
tails." Renoult was retiring, delighted with so easy a
master, when the Baron recalled him. "I forgot," said the
latter, " a little usage in my house---it is a mere trifle, but
you must be apprised of it. I hate to bestow my attention
upon domestic accounts. Every three months my steward
brings me the revenue of any estates, and settles with my
tradespeople. You must therefore advance for three
months all the expenses of my table, and if you had no
Money . . . —" Oh ! excuse me, Sir, 1 have saved
to the amount of 15,000 francs."-- " It is much more than
is required," replied the Baron ; "I mentioned this be-
cause, otherwise, I shmild have given you some bank-
notes which you would have returned me after settling
with my steward ; but since you have money, I like that
as well, and it is more regular."
Monsieur Renoult duly took up his station in the
Baron's richly-furnished kitchen, where he had abundant
opportunities of displaying his scientific, knowledge. The
Baron gave frequent dinners, and insisted upon his
guests being nobly treated. Renoult was an absolutu
sovereign in his empire. The Baron was content to say,
" To-morrow I have so many at dinner,", when the chef,
thus warned, had carte blanche.
On the 30th April, 1839, Monsieur Renoult had been
just three months displaying his talents to the complete
satisfaction of hiS noble master and exalted guests. In
the morning the Baron, on issuing his orders for dinner,
said, " To-morrow is the Ist of May ; I shall breakfast and
dine out. You may avail yourself of the opportunity to go
and amuse yourself with Justin (the Baron's valet de
chambre), I give you a whole holiday." Monsieur Re-
noult was delighted, and fully availed himself of the
gracious permission. At eight in the morning he was
on the wing, as gay as a -lark. .On returning home
at night the doorkeeper informed him that the Baron
had gone into the country for some days. Renoult
waited with no great impatience. Ten, fifteen days
passed, but brought not back the noble master. Renoult
was growing rather uneasy, when the arrival of an up-
hoist( rer completely upSet him. No orders had been left
for paying this visitor a sum of 2,000 francs, being
only a part of what, was due for the Su-
perb furniture supplied by him to the Baron.
The upholsterer and cook were seized with equal
anxiety. After another feverish delay, which yielded
not the Baron ! the apartments were broken open, when
not a chair, not a pin, was found in them ; but Monsieur
Renoult found that he had been feeding at the cost of
some thousand francs a most consummate swindler. The
ill-fated cook was resigning himself to his mishap, when,
a month ago, on crossing the Place Louis XV., he fan-
cied he espied the Baron Chauvier beneath an enormous
pair of mustachios, and a costume anything but fresh and
fashionable. Having convinced himself that he was not.
mistaken, he collared his ex-master and safely lodged
him in a station-house. The Baron was yesterday intro-
duced to the Court of Correction under the incog. of
Chardon, a well-known thief, who had already twice been
transferred from the Palace of 3ustice to prison " for ap-
propriating to himself other people's property." Having
avowed, as he could not deny, that he had, in his baronial
capacity, swindled various wine-merchants, tailors, jewel-
lers, &c., in addition to Mr. Renoult, whose culinary
talents he was ready to bear witness to, Chardon was
sentenced to five years of durance, and twice as many of
surveillance.—Paris Print.