Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1817-01-02
UsURY.

"a Bill has been introduced into the House
OF Delegates, for the purp Sc of repeating the
laws concerning Usury, and f adopted. will be
attended with the most mischievous ccnscqueu
ces. Ii will unite the bands Of set OF men
whom as yet. the laws have been Inefficient TO
controul, and who, regardless of evcrvshutn1ne
feeling, or moral obligation, are like a set OF
vultures, praying upon the best interests of The
country. ltappears. the object avowed by the
contemplated repeal, is to place every Que
ain equal footing that money NAV lie bought
and sold like any other species of property
AMI that. in the course Of time the brice o mo-
ney will be considerably reduccdI The pro.
position in theory NAV do well enough hut
when reduced TO practice, il viii be found to be
tatai IN ITS consequences. There is so much
money IN market, and mere will be intro
duced, unless raised by commerce and the pro-
auctions OF the soil. suppose the monied cap
ital in the state to be twenty millions, and the
whole is hired up by few, how can more lie
raised, VIII the sale of landed, or any other
kind of property, force more into market, Ii
VIII not The monied capital in all countries,
VIII always be commensurate with the produc-
tons OF the soil: and the price of money must.
an6 VIII always be regulated by fair aud reg
ular trade, but never pay higher than a
certain ~ cent, without injury TO that trade
Norwill the higher price paid for money make
itmore abundant, unless drawn from distant
quarter, and the gain arising from that source,
must be measured by, and repaid in the pro-
auctions OF the soil, and The rate of exchange
never fails 10 regulate the price.
IL Is the policy of all governments, 10 Fe@u-
III.
result such nnumeralle advantages WHY is
money held in greater demand than any other
species otproperty? Because, it has a certain
or ilXed value, 1t IS easier exchanged for other
commodities, and gives greater facility 10 com
merce-COmmerce lends fostering hand to
agriculture and tomanuactNres. Repeal the
law, ahd commerce will dwndle, agriculture
repine, and manufactures will sink under the
pressure OF the eXtortioneT. In vain will the
merchant look for his regular profits al the end
OF the year, or the husbandman his usual re-
TURN Tor ms labour-the manufacturer will
mourn over his once flourishing, hut then an
Improbable and mOtiOnless establishment
Every thing will he placed on a footing of nm
certainty and hazard. Repeal the law and inn
mcdiately money will be hired up by the Usur-
| ers 1; and the ignorant and unfortunate will
iaii victims to their eytortOn. The ignorant
VIII, at all times, be Overreached i'm their cor
tracts ana negotiations, and the unfortunate
VIII, profanity, never be enabled to eXtricafe
himself. His property already incumbe cred,
the IRON hand of avarice, will mike oppression
| still greater. Inevitable ruin will follow. -
| PoorhOUses and iails will BE crouded The
| streets of flourshing towns and cities that now
! exhibit scenes of industry aud prosperity viii
then exhibit scenes of wretchedness and mise
| ry, and crouded with halt-staiyed, hapless in
fants-'fhe ears of passengers will he saluted
by distressed matrous, with " road sir a-ire me
| ration"
Repeal the law, and all confidence between
men VIII be at an end. Litigation will increase
The morals of the people will become corrupt
Men, now in habits OF the most friendly inter
course, will then seek to take advantage of
| each other. Those generous feelings of huma-
nity, which now characterize the state, will be
converted into a state of barbarSm, and train
OF evils that cannot he now anticipated and a
course ct things the mOstwrctched, will follow
virginia, now the seat of science, will then be-
come horde tor usurers and cXtortionerS
OurticuriShing republican institutions created
ny wisdom, and fOstered by virtue and benev-
oience, VIII droopand die. The bright con
more on this happy aud iourishing state The
uncXampied prosperity which we have so long
enjoyed, viii be feitn0 more. In the cold bed
OF dvarice, "a germ will put forth and its coma
giosS effects will desolate the land Amonied
arlstocracy will rise no, that will look down all
opposition TO virtue, to morality and those re
pie.
Repeal the law, and the chartered rights Of
banks will be placed on footing Of ii,eGuatity
from Individuals. Tue banks cannot take more
than per cent. for the loan Of money, indiyid-
ualS VIII be at liberty to charge what they can
get. 10 place every one on an equal footing
amend the present law, make its provision so
efhcient, that no one will dare hazard its VIOLA
ilon a state OF things now exists that reuuisas
The interpoSiton of Legislative authoritv.IUsu-
ry IS now the great evil in this country Virei-
ma has done hcrselfimmOrtal credit bV Dutfing
GOWN dueiilng and gaming. 1t now remains
iOT her 10 put down uSury. She has it in her
power; but u the law is repealed Inequality
viii succeed. Vice will be encouraged Mouey
VIII purchase station and rank, where virtue
never had dwelling place. The assassin will
no longer be kept in the back ground. Those
who can succeed best in viIlainy, will hold the
highest stations in SOcety-brl above an, the
elective franchise, now exercised by free
people, will then be confronted by those who
hold the pursc-strings. Let us look to other
countries for example, and let that example
save US.
lis scarcely necessary forus 10 aid, that ne do
not concur IN the ideas Of Tie preceding Com,Hr,,i-
'@'iOHI Editor.