The Statesman.
London, England, 1819-02-18 00:00:00

7 113 E STATKSMANi

lo Tyr EDITOR or rnz STATESMAN.

Sta,—A Bill is about to be brought before the
consideratinn of the House of Commons, for this
repeal of Ike USURY LAWS. I observe that yet are
in favour of the repeal; bet I beg leave to say, Shut
this is not a proposition to be taker for granted, not.
withstanding the weight of general principks which
has been brought to bear upon it by yes and other
able writers, who look *My et general principles,
without supposing there may esist tummies to
them, mew I may spy to the destruction of the cease
and teeming of the principle itself. The great and
ultimate object of all political science, sod of all
general principles forming the code of that science, is
to provide for the /AMY and witt.rati of the Pao-
,„
PM here may be rowel principles leading almost
universally to that object; bet. in the deviations of
human affairs, there do near occasions when adhe-
rence to the accustomed set of general principles may
be utter destruction to the ;wpm@ which gar• them
birth. General principles are not, following the
terms of the expression, universal principles, nor of
application;lnfo lible and great hare been the
errors of policel economists in overlooking that very
palpable truth. Now, Sir, I hold this to be the
case in the pieseet question. It is a tree proposi.
lion, generally, that the freedom of commerce is
beneficial to the interests of commerce. It is wise
sod useful, generally, to permit parties, contracting
for soy article. to make Ilse bergain in the best way
they can, which lathe most likely to lead the way to
their real mutual interests. Bet there is ever 6 died
party in all these transwieres. This is the Poetic;
who, although they will be generally benefited by
leaving theopenitioes ofeommerce to themselves,esay
be injured and almost routed by the pursuit of this
maim in peculiar and estrum, cases. Let as see
how this reasoning boars opus the point of the re-
peal, at this time, of the User, Lase. And, my
first ides is, that it would raise the price of money.
or the role of interest. The waste of tradesmen
are so great, and the moderation of money-lenders
so small, that the rate of interest would probably
rise to ail, or eight, or even ten per cent. But one
menefacturers cannot now go to the foreign market.
on amount of the too high cost of their goods. flow
le it to be. *bee an incre.ued price is to be put on
the Aire of money / It will not be denied, this our
trade is carried on, is greet part, on a borrowed ca-
pital, raised by bills of eschunge Red other borrow-
ing expedients. The LAND-OWNER is as guilty of
borrowing as the trader ; sad by his Corn Bills, he
▪ raise his reels in proportion to the rise in the
rate of interest. This, again, falls upon the mane.
lecturer's goods, which should feed the nation's
wealth by a constant stream of exportation. The
HOME CONSITEIPTION, In every pert, must be iocressed
in prim; and this. again, Merman the price of our
manufactures. What is to be said to this? Will
you say, that the metiers is to be stabbed to the heart
to feed the rapacity of money-lenders with its, last
blood ? I wish yes, Sir, to reflect on this, which is,
Weed, matter of gigot eerie., import. We shall
bear what Mr. Serjeent Onnow makes of the ques-
tion ; meantime, I am sorry to see your respectable
Paper sake it up it • way that appears to ere din-'
prom to the tree interests .f the country.
I am, Sir, yew's,
February 17. 1819. A MANUFACTURER.

IMPERIAL PARLIAMENT.
HOUSE OF LORDS, Fos. 17.
The Howe proceeded in Appeals.
The retire were admatistered to the Earl at Gosport ad
Lord Aadehe•w.
Trelaway's Divorce Bill was trod a first Ilse, mod ordered
N be read issernsid so-osorrow foraught.
TheSl4loo.llllol. liselterrer Bilk Bill. sod the Bristol Oes.
Debt Hill, were tte...soht op l'etwo the Howe of Coseassaa by
Mr. Wooden, Mr. Hart Davis, aed other Members, lei reed •
Ira tire.
The 1,441 t, Pre. Outlet Bill was reed a third finical! used.
Adjoined toll i.e.iwnerow (Has do)).