Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-01-14

Tie procfess ofseason, ar~';.-t rrocorce;sst
opinion Is slow, aud uoiions drawn ia With ihe
mothers milk not easily eradicaf. Il (; bgl
the Process Of free enqniy. which is SO strong.
~ elected 10y oit INSTITUTIONS. ryii aud rsiiy
Gus, VIII doubtless ere hN= prevail over this
relic Of ignorance ar deSi,oti>n,.
he subject before las has hsrn so fully
and ably discussed that IL were hcr.leSs TO
adduce new arguments upon it-wilii those
however. who have not attended 10 tue nys >i-
rAfirn, the following cohs deraiions may have
: some weight.
The idea is. l believe, prevalent with nia.y
honest minds that sui, is Ioi hidden ia tho
word of God, aud th, ieioir sauuui br allowed.
without gross vioiati"u.i morality Ia Say ;,ie
least. The only supposed authority for this
opinion Is found IN tie Prohibition of The jew
ish law, Deuteronomy I'D chap 10th aid 2J.h
verses u Will he perceived however that
While the Jews we,p commanded not 10 lead
upnn usur! ia Their biethIcn," Usnry oi mo
ncy, nSury OF viciUsis, usuiy OF amy thing that
Is tent upon nsnty' this sentence follows
unto stranger ,iiom ma est lend upon usu,y."
isn't was license here granted Tor eXtortion,
injustice orimnoralit, eyentOwai'is strangers
by no means; and am horne out by the OPT
mon oi ti,e best commentators that the tenn
uSIry here means any interest or gain TAX
en- for The loan cfLi0Rey or cares" Thus while
me Jews undSf a theocracy were prohibited
from receiving arg usnry Cor inicrest) from
Their brethren, /. e. ANY OF their uatoH, they
were expressly allowed TO take usuty from
strangers. i. e. all other nations and that rifh-
opinion that HsurN u synOnimops an Its origi. |
nal signifcation, with" interest," and can
only suppose laws limiting the rate of interest
10 nave originated IN iniscOrccptIon. ot as q |
s,ai' aud ahOrliye attempt OF governments 10 /
deIbers The tate of iateiest Thai they, being |
nS'iaiiy Borrowers, might obi ain money on easy
teams ihat ilpsa laws arena bItrar, IS evident !
trnnt the fact, that though tire legaiizcd rate of
interest varies a hiilc in different countries
IN the saine country II Is Siationai nearly
&yrt ~ must BE- atituitted thai the value ut mo-
neN misuse. isyery Guctna.iig. and depending |
on the state of Corn,nti ce. The amount ofcircu- |
OF tobacco, nour, ui ai;l staple commodity o.: |
ont mari ct, ~ esisblisi.d by law.
The evils growing oi line existing laws
against Gsury, are sufficiently ob,ious TO all |
who nave an opportunity 10 observe or feel |
ihrli effects. When the value Of money its |
ne. rises abf,e tie legal standard many cani
iaisiS who feel Themselves bsnnd by the law
not by It's peualty-Ci IN whom the passion Of |
avai ice Is not strong enough TO induce AN ex-
posture TO il, are deferred from us;ng their |
money IN loans : and only those who willing |
10 iucnr the odium attached to" shaving" aud
10 brave the penalties attached to the practice,
reap Tie iuil harvest o.. the field almost with
out competition, while The needy borrowers
must satisfy their exurbitant demands aud |
Indemnity for every risk.
Tie last consideration which shall. mention !
in favor OF aboliSling oar laws against usury.
j., that existing evils cal! for renedy-ihe |
experiment may be made without the risk of !
disastrous conseQnc 10 say the v or>t and !
II appears ia me that a popular nlaNim ut hi.li |
authority is very applicable" Lei trade lac .
left To find It's own level"
MERCATOR.