Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1817-07-04

cOilmeTcldl relations DetNceh fffat cOttii-
J Try and this, are friendly and free. Nhai
then prevents the Dutch from awaiting
themselves of the higher rate of Interest
here than there, in the loan of their mo-
ney IL cannot arise from any CONNER
| cha! inhibiiion-for there is none. ltcan-
not aiise from any difficulty in transfer
ing their money hiiher. Such are the laie
improvements III the navigating art, as TO
| take away NIL difficulty /: at least To les
| sen II so much as hardly to make il an
item In the estimate. a visit from New
York to London or to Amsterdam is now
| made with almost as little preparation or
ceremony, as one 10 philadelphia or 10
Boston. The Dutch, and the lenders of
all other countries, as well rs the consci-
| eniiously scrupulois lenders Of this, are
Kept Out OF yonr money market nv YOUR
laws against Usury. The market iskept
open only TO few enterprizng, advenili-
| rous spirits, WHO disregard your laws
! and hence, the high rate g! interest. Per-
haps there may be some other causes
tending TO aid in producing this effect:
but that Is certainly the principal cause of
It,. oobvlate this conclusion, il is in
rhn to say, hat the laws may be. and dali
i " are eyaded. The Dutch, as we'll as all
! other strangers, know Of the existence of
your laws. They know nothing of the
evasions, nor of the shifts by which they
are effected. And if they did, il is a clan
dcst'nc traffic, not of very cnticng cha
racter. Besides, when the law refuses lis
aio To enforce contracts, their execution
| must DEPEND very much upon tlic private
characters OF individuals engaged in them
Vi all these, and MANY other circuinsfan
ces, necessary III carrying on the traffic
oil evasion, stranger can know nothing
I does Of
ring the knowli dye. These things deter
all strangers from your money market
They are all the fruits of your uuwise
laws. Repeal those laws rigidly and
promptly enforce all contracts fairly
made, whether for the use of money, or
for any other thing; let every fair CON
tract be deemed honorable Then let all
this be proclaimed to the world, and your
rate OF interest would soon he as low as il
ought TO be; that is. ii would be reduced
20 The exact price, the use Of money is
worth; and it is neither desirable nor
just, that If should be reduced lower. 1t
lsimpossible TO believe, with knowl
edge OF these facts, that the Dutch. witt,
their love ofmonry and their love ofcom
merce IN money, would long Withhold
their capital from Your market. InfIupn-
ced by these strong impulses, they wouli
soon give activity to the principle of
competition, and TINS effectuallv r. heve
the government from all concern about
the rate of interest. AS most other nail
ons are assimilating themselves 10 the
Dutch in their love and habits Of COM
merce. 1t may be expected. and il is GER
talnly hoped, that they viii also assimi-
late their policy 10 that of the Dutch, res
pectng Usury-and fhus liberate COM
MERGE by tearing from il one OF the most
| injurious aud anilquatcd Shacllcs. 1t IS
believed that If all nations would thus IL
berate commerce, and at the same time
| relieve II from all other governmental res
trictions-such are the Improvements.
both III tile arts of commerce and naNi-
CATION, thar in times of peace the
rate OF interest in all commercial coun-
tries would be broughtnearIy 10 the same
level. Ii could not long continue very
| unequal-bccause the moment f:,yora-
BILE tiuctuation ia the money market of
ons country became known in another.
fhc capital OF that other would be trans
! mitted to participate i'm the benefits of
such favorable fuctuation. Commercial
skill and enterprise would render this eff
feet certain.
Have we not some reasons to hope.
that nations are beginning to see the evils
OF all mOnopolies. colonial as well as com
mercial; aud that they will, ere long, in
duige Individuals in exchanging for their
mutual enjoymeDts, the various produc-
tions which bountifu God has scatter
ed over hevarious regions Of the earth ;
and at the same time, free the world from
these prolific sources of destructive wars ?
Some dawnIngs of hope NAV surely be
INDUCED from the noble effort lately
made in the British House of Commons.
by the Justly celebrated Mr. Brougham
to expose the folly and the mise hief of ali
monopoiies.-Ma not this exposure.
! drawn from facts and conclusions equal
iy undeniable, finally produce the des-
tructlon Of a system. which for centuries
has been universally and enormously
deemed the main pillar of British glory d
! British prosperity, whilst other nations
have often felt It's desolating effects Eff
| IN G. Britain, the orthodoxy of this veDe-
| rated principle of monopoly, heretofore
believed by all her greatest statesmen, to
be written i'll the most sacred chapter of
her political bible, has been boldly and
successfully questioned, may it not be
| reasonably expected, that the deveope-
ment of truth, although long concealed,
! VIII not only have its Just effects there.
but that 1T will also be felt and acknow
| lodged in all other commercial nations of
| the world ! As the first step for redeem
ing commerce from her tIIraldom, repeal
your acts against Usury, and Iiberaie il.
| at least in the traffic OF money. Money
is an article of universal traffic, and the
free use of it Il matter of universal con
Germ. This would essentially tend TO lib
| eralize the general commercial spirit, and
thus have more effect in throwing off oih-
| er restraints, than would, The first view,
| be imagined. If the individual members
Of the great family of mankind, could he
permitted by governments, without pro-
hIhlllOn or restriction 10 nv nLnn.ro IL.