Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1817-09-16

SIR senG You few facts ami desrltorv re-.
MARKS ' Oh tnc snp,cct OF Usury. 10 those who
Hdveaitended to the communications already
punished IN the Enquirer, they will not, per
eaps. he entirely uriuteres!ing.
Ia tiie year 1885, there was no statute IN En-.
giahd against nsury OF interest. The truth of
ms proposition Is, tlIiuk. fairly 3educihie
ticla the statute %, Hen. 81, C. B. IAN J2i51
by which It IS provided, - that ustry shall mi
run against "ne within age, from the time of
The ancestors DEATH Thus, we see tlIat in
tefost UaS allowed, and there Is no trace Of any
law by which the amount was regulated. In
fact, uniiI the 3fth of Hen. g, Gan. Ibt5) The
uestion ~ England and throuch out EuroDe.
was between interest ana 10 interest ard moi
between one rate OF interest and another
Ihe iirst statute prohibiting interest that 7
can 'i"d IN the English Code, is published. as
OF uncertain date. This is very singular. Ii
Is even uncertain whether twas enacted in the
reign OF Item. The 3, Ed I, or Ed 2 The arrr-
men: IN Favor of the latest period however. IS
strong. Henry Sd aud Ed. l, treated the Jews
win Sdrdse barbarity. 1t does not appear thar
hese people were moiested i'll the reign of Ed
z. re hnew what misery, was. Suffering had
tdn-nt hIni something like humanity Ii was
much more consistent with his character than
with that of any of his predecessors. TO saw
seeing tina, the holy church riiis and su6frs.
tnat tity tse .'e"S) should lire ami he guarded
Tue KING takes Them under his protection" &c
&c. The French, in which this statute is print
Ell, Is so ancient, that cannot translate every
word with confluence. / should be clad 10 Sc
1t we'll translated ! hose whose minds extend
ore inch hey ond eating, drinking sleeping and
making money. would read il with some inte-
rest.
In !s7, (thi,d Of Hen. 7tI,) usury or interest
was prohibited under severe penalties, and the
brokers were 10 sitiu The piilory, and then I'M
priSoUed six months.
The statute passed in the nextregD. (37 Hen.
5, c. .. an. iJl5)is very remarkable 1t is well
known that Hen. $, was ore of the IaoSt arbi-
irary as we'll Is caprciDus nionatcIls that ever
throne pt nd and 10, Il. "A
parliament IS much disposed to be Servile and
cringjmg as lie was To DC fyrannicaI. Yet This
monarch was obliged to yield, appareutlv 10
the prcjudiceS Iuculcated by The church as tn
interest, AT the very moment when he was law
ing tie axe TO thar root as well as TO the roo
oil papdl supremacy. The preamble speaks of
usufy or interest as mllufut and corrgof Ii
states that suadry statutes had been ,n,Je a
saiist IT, but that they were ambiguous. OBJ
scurc aud OF so little effect" that bv reason
thPregl hltle or no punishment has eGsued TO
the Offenders Ofthe same, bit rather hath sn.,,..
;0gH hcu to use the same" Now, one wDuid
suppose, that the object OF the Legislature after
Tins preamble, would be- to prevent this uula,y
ihi ~ corrupt practice, by passing a statute.
Tree from" antiquities and obscuriiies." Nm
lhins like 1t. The statute actually passed an
thorises usury to tie amount Of 10 por cet,t.-
hal IS to say, its penalties are denounced a.
Salnst those only WHO act iHiawfnlIV and CIR.
ruptly, beyond a certain ONT Ifwhai Sn,ifi,
says be trne--to vii, that tl,e English statutes
80 u'"""- ih''icS'' nave always fOilOwPd fiic
market this parliamentary great gun was fred
ia empty air
Tie same Difference to prejudice was mani
rested ny Elizabeth, who was as tvrahnical AZ
Der father, but wiihiwlce his understanding, -
sue had been educated in the school of adTcr-
sitN. lie pTeamble Of the statute passed in
ier reignl 3 Eliz. c. 81 declares all usirv TO he
ior'idden by he law Of God. aud 10 be sin,
anu deteStdbic. Yet the euactinr part Of The
statute repeats, IN part, tie li,v 81 God. and
duthorlseS tbs deicstable sin, provided il does
not exceed acertdin pcint-f6 percent.
Inc preamble 10 this same statute ;,vcrs a
TACT wei worthy of attention. III notices fi,e
statute OF the Ouecn'S predecessor. (jId 6t, !
ny Wnich me % -. ., had been repealed Fl
s'yS 'Da' .nio statute " iia;h not done 20 much
good as was hoped it should. bat rather. he
Sa'd ricg 81 usrH especially b. way Of sales OF
wares aud shifts of interest nun much ,uoyg or.
ceeWngiy ahoandcd,' &c. 1hs fsctis yortl, =
N"iune OF reasoning, aud proves fitat Monies.
qhieu was right when he stated fhAf interest in
ldW denouucing IT,
DOmatf graveiy remarks. eve eannot do,;,,
nut that taking interest is = great crime. sincs
iie prophets considered IL as q detcst,,ble si,,
d"h place TIN the rdhk with dolatry aduIietv y
&c; we all laugh at tnis "a the present o.
dHd iii turn, those lIo come after US will jatI,
Wilnm0rc cduSc, 1t approximations adlu irttee
70 TIE fragment of folly which our anceators
-------
This vary provision constituted the l2h article ~
tss siest charter psaed b. join IN The year Ill5 10 "a
Shatci oi8, Jen Sd (s1j) u is 20 he touud bt.
SOU, u IS 20 be presumed. produced the staintc
a'"Ne Wedtlohei The chatter aud the law f.y. hsr
clearly prove, dl ne doctrine Of a., Sei,n,e.ts CO..,
ee'ning 'airirst bad MT tbon rlS cbcd Ent 4ni
beok !, Sc. 3. H. 0.