Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1817-07-22

cate, for the consideration ofyour readers
Il few facts and observations hitherto un-
noticed.
In the state Of Louisiana. have been
told and believe, " there is no limitation
" to interest in ordinary contracts. 1t is
e" fixed and limited by the parties. This
has been the case many years and The
effect of the practice has been such,
thai every atlemptto change 1t has pro-
g we'd abcrtive. The exceptions TO the
"praciice are such as were suggested
g in the bill lajel, brought before the le-
"gS!ature of Virginia"
The papers recently received from G.
Britain, state that Mr.. Cnslow, Il mem
Der Of pariamenty has obtained leave to
bring III 4 bill, 10 repeal the laws a.aims,
usury. The motion was supported bv
the Chancellor of tie Excliequer. hr.
Brougham is one Of the Committee.
From this fact, his appreciation OF the
, proposed measur may beinierTed From
The acknowledge learning and abilities of
rms gentleman, the passage OF the bill
may be anticipated. lis fate. whatever If
may be, viii have no iaconsiderabe in
fuencc ON tie final decision here. This
IL 10 be iamcnIed. jrath is truth tho
British Parliament NAV not perceive II
In fact, when we consider the condition
III which Great Britain now stands. if
must be admitted not Ia be ihe country.
10 which we should look for cxa,oplrs oi
wisdom in political economy. Tia, con
q TIN teaches uS indeed MANY lessons. of
ihraicuiable value but 10 one oFthc best.
inreiatlGn 10 manufactures, We turn a d ut
ear. OF this however, more hereafter.
perhaps. lcannot close this naraOrarh
without remarking, that there is a very
| striking coincidence betwee The view of
the subject taken by Mr. Oaslow Oh The
first OF May last, ani that exhibiiedin lie
arguments published III your paper,
! bout fortnight ai;erwards-lt may not
oeinpropcr here 10 mention, that MIR
| Onslow had madea similar motion in The
session of 1915 10, which on account
OF ITS importance, and The hate period
| OF lis introduction, was postponed, un-
| I'll the then neXt session of Parliament
! During fhe late war, tie legislature of
| Virginia, borrowed money at a rate of in
tereSt, exceeding that prescribed by law,
III contracts between individuals. Why
did they silpulaie TO pay TINS cXtraordi-
| nary interest The answer is: ID was
necessary that The government Should
haNe money, and it could not be got on
| pe'ter terms. Now would merely ask
whether an individual is not quite as rood
4
can be of the public wants Does not
the individual manage his affairs As well
as The public manages lis concerns. and
| Detler! Does lie not buy cheaper e
Does he not sell dearer Does he MOI
build on better terms Does he notcon-
duct manufacture OF cloth or of arms,
| WIN less eNpence, ana of course with
greater prOfit2 The answer 10 these
| questions, and 10 many Others of the
same sort, are obvious and when apuli-
ed TO the subject before us. decisive -
Leave the individual then TO himself. -
be assured, that when men make con-
tracts about money, they act almost in
VarIably with both eyes wide open.
Inc Jaw saws, that YOU shaft not take
more than a tlXed rate of!nterest for your
money, although the market price is
much higher: IN other words, the law
says, that man shall not O. taiu for his
PioP'IiE what IL Is really worth; that is,
Wn"i olileis are Wiling 10 give for It.
Now, Off, answer this Question. What
constitutional doctrine or pr,uciDIc an.
thofises tine legislature 10 fix the price ..
my money, which does nor authorize
'hem-tn tx The price ofyour house. Of
your land, and OF every thing that YOU
have Much might be sa.- ~ relation
10 tiis part OF the subject: but il is need
less to press harder on a system, IN de-
;rnce of which, old as il is, not one word
has yet been submit d 10 the public.
One OF the most enlighten d Citizens q
Senators of Pennsy iyania, saws that he is
curlomss 10 know(how the arguments in
FAVOR or the repeaD have been erq,icd." Is
IL likely that his curiosity vii! be soon
grained
Yours, respectfully,
A SURCCRIRFp