Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-05-18

W. ~.
10 The following piece VAS prrsenied
10 US on Friday morning for publication.
Though are deem the Usury laws a. cal
cula,ed 10 add 10 the very evils hich they
profess 10 cure tho we believe il 10 be
Ihe wisest way 10 leave The price ofmoney,
as We do that Of other articles, To regulate
Itself and that money would be cheaper,
i there we're no laws at all 10 regulate It's
price yet, with The writer of the follow ing
We have no sympathy will, those usurious
Shy locks who are ever on the watch 10
prey upon necessities of others. They vi
plate the law of The land, and they are too
frequently dead 10 all touch OF human pi-
ly:
USURY.
TO THE EDITOR OF THE ENQUIRER.
Sir: The difficulties aud embarraSsments OF
the present tunes, are felt or Imagined, by al
most every class OF societv,a few prosperous
professional men excepted and the public
distress, whether real or ina ginary, is great
pad general. a stranger, who cunlemplates
he detected countenances of our citizens, aud
lstenS TO their gloomy {orebOdings. will be
| ,mpclled 10 conclude that our once flourish
| & metropolis is fast advancing to the state of
| uecayed village. In such state of public
| cling, whether il be justified by the present
! edition OF things or not. no man need apoio-
| r. for offering his opinion upnn the subject
] fmy own part, Sir, 1 have TO doubt that
otiears have given much too gloomy color
| lito The picture and although II mnst be
| aVtied that the public distress is great, il
| out not TO be considered without remedy
Spondent temper increases the oppressive
| heof every calamity, and not only renders
US md TO the present means of relief, but
| I, a,es us at the same time. TO see nothiEg but
| d.sierS ~ the future. II is TO be hoped that
the oral energies OF our city viii. noi be found
| TOO eak to sustain il under calamties which
| are t1imon 10 all commercial communities
| Let moi be our rPprUach that, as we were
certaly arrogant in prosperity, we are pro-
! poru,abiy feeble under misioriunes. We
| must ok upon our condition with becoming
| firms, il we wonld find out a remedy for the
! evils Nich ditendit. Ii has become fashona
| BILE to the whole burthen of the public dis
tresS 'on The Banks and the trade 10 The East
| lndies IL is not my intention TO discuss either
OF the;queSiions; but il will probably be
| found Il fair iuvesti CATION, that the India
| trade been more beneficial than injurious,
| and tha.Ee banks have done no other Injury
| than reking TO encourage. hy IA continuation
OF indisoet loans, a thoushtless aud proaigal
spirit of REGULATION. These causes, with some
| others ctnected with them, have produced a
temporaT pressure upon the whole country:
but the pple OF Richmondare iaborins under
| another ii, which, unless some means he
found to eek its disastrous career, will soon
render us, bankrupt in morals as IA wealth.
| Thai evil iUSURH.
The opion that there is no money in the
city, is tam upon faith, by nine-teulhs OF
its lnhabitds. Ii we enquire, however, what
it is that h;so suddenly impoverished us, we
shall he ssarised To iind how much have
over-rated n misto,tuHes. tits said by those
who are woinfOrmed upon the subject, that
our loss i'll .ade within the last three years,
amoHnts 10 tout five millions of dollars The
bank ACCOMMODATIONS have amounted To very
nearly the me sum. Let il be supposed,
therefore, I'd the fact rs rot very different
that all eur i'cign trade has been conducted
OH fictitious apiial, aud that this Capital has
been wholly ST. Still there is no increase OF
debt, becaus the money borrowed of the
banks, has pd the foreign creditor. We
have INQUIRE also very large debt for real
estate-but Is adds nothing TO our embar-
rassmcsts, bause IL takes nothing from orr
collective weih. Ii Is due TO ear own citi-
zens /; for eve,nian il has impoverished there
is another VIM il has enriched so that il
diminishes in degree, the aggregate OF our
wealth. We I've paid something 10 tie coun-
try for very productive labour, bnt this is
scarcely AN uiHn the calculations of orr bu-
siness. The baice of our domestic commerce
is probably in o, favor, for although we hav e
| given eXtravagt prices for produce ofcvery
| kind, the sales Cimportcd articles have been
correspondeptiyreat. Besides, whatever We
may have lost lihis way, ought to beipcluded
in our foreign DIT; for we have sustained no
loss upon imrOed articles, and our foreign
debt consequenV consists OF the difference
between what wgave aud what we received
for our exports, the foreign market, with
the accidental drerences of exchange. This
is rapid view otll the sources of our debt
aud il leads MS rresistibiy TO The concin-
sion, that our fOren debt, which is only cur
debt to the bani, is the only thing which
Expresses us. Al is il credible that our
wealth, of which were once so proud, was
too small TO sustaia loss OF five millions Are
the fortunes of cy containing ID 900 inbab-
tants, possessing esources almost without
limit. and snch as IN never fail her under any
condition OF thiugShuS narrow and precari-
GUS The estates GA few individuals among
us, would dischargour whole debt and YET
we are told that thcity is ruined, and that
even Industry, prutnce aud economy have
nothing 10 expect b. poverty and want. 1t
is impossible to belize that the resources of
the city could he so silly exhausted, or that
there is not at this tinramOng MS money enous Ii
to answer all our eNFncieS. Ii any farther
proof of this fact bGlccessaTy, every man
experience will fHrnh it. A note to any a.
mount whatever, Propiy introduced and recon-
| moHded, will find pnIhaser in our market
1 any man be unable raise money, il is be-
Cause he will not pay te usurer's premium. or
is unable to give acce able security; bnI let
Kim pay the IequireI ice and place the debt
ont of danger, and the mreT's cornucOpia will
never fail him. II is Tne the mouey-IendPr
himself will never Acknowledge this, for il is
never in his power tOraiSe the full sum of
three thousand ducats-but TubaI. wealthy
member of his tribe, vi furnish him, &C.
This however. is tEe 'ureI's cant il was a
stale trick 2O0O years az 1t is The interest of
this nelariOus ayOcaiia TO exagserate the
public distress: QHurtperditiOr guiyqHe est,
taHto dcrUs It, But sIh acts cannoI impose
tor one moment, or anpan who is moi the
slave of bis necessities &c usuieIs victim is
always a cOusenilug sactice.
The mechanic iujeresDft the town las suf-
fered IL p peculiar nauur, under tie acts aud
eNtOrtiOns Of the nOIIeSendeT. Heretofore
we have Lcen cratIhed | this season of the
gear Ivy tho view OF actiy,ndastry, and busy
preparations for mprOvueuts in all parts OF
our city. Now, we besOl Oniv the skeletons
OF a few houses which lhtundeTtakers com
have hecn abandoned forhe y AIT of money
to finiSh Them. And Homwiat source arise,
this embarrassment 2 Loo III The cnlnfnns of