Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-04-16

bal II MAS remarkable, Mat While the
taking interest above certain rate sub
lc ieL the leader 10 treble penalties, /,
did mol appear that the law prohibiting
The taki1y at ANY iaiercs, had been re-
pea,ei. lne appreciation of the habit
OF taxing @ny iniereS, on money MAS re-
peal2d IN The act of Queen Anne. 1hou.. a
IN different terms. The learned Sergeant
then recapiiua;e3 the varloms iucouvcni-
encies with wheh The msury laws were
attended. AS had been fully proved before
The committee which had been appointed
10 inquire INTO the subject. II had been
proved, that III consequence q fixing :,
legal rate, which had often ben below.
lie market rate of Interest, The handbook
or, when incun bcred by debts, was fore
cd 10 4 diSadvariageous sale 81 his es-
tate, or compelled 10 raise money by way
al anua,licS, on lives named BY il.e gran
tee, al from 10 10 10 per cent. Although
dnrlag tbs period 81 which these incOn
'eaienceS we're icii by tie landhoider, tue
same nconvcniences were not felt by ihc
hoidrrs os bills OF exchange. that was Ia
be attributed tD tie bank restriction,
Which enabled the BAN, IN discount bills
10 an unlimited eNirnt. He mentioned
that, Is sOrie observations of DIR. Adam
Smith had been alluded 10. which were
al 'varance viii hlS view of the subject
anil, indeed, will other paris of HE dis
tingnShed writer's own work, ii was sa-
ti>iaCtofy Tor hltn So Stale. ~ he WAS en-
ablrd 10 do, that DIR. Smith, with The
candOF which distinguishes great minds.
had confessed, ai'tG having read Mir.
Benlham's work, that the view lie had
taken OF the subject WAS not correct
His BIZ! was simpl. TO repeal the resiric-
lion on ilie rair oi interest under special
al
ders oi cou;iS OF law OK equity remaining
aSat present.
Mr.. tiumc, in secondins The notion
dweli on the impo!'vyrot The laws which
IT wJs intended to repeal. What possible
reason could be assigned why, while
man was allowed 90 make the best rent
he cuu:1 OF his land OF houses, he man
Mhu possessed money, which was only
Ile representative of value, should be re-
stYicied IN The use he should make of il
The wealth of The community was made
up OF The wealth Of Individuals, and The
bcsI way oi increasing t'ia, wealth, was
hy giving the greatest facilities to the
employment OF capital. One man was
able 10 make greater profit by The en-
pioy mcnt of capital liz some mode which
bus skill presented to him, ii,an another;
il, llierelo ore, he was prey MED from Dor
ROW ing above d certain fixed rate, the
increase of wealth was impedrd. lie
baiird ihls measure as tiIe turerunuer Of
tie repeal of many absurd restrict lions,
which should yicId 10 the knowledge
winch had been diiiuscd, 81 polllica! eco
nony.
Leave was ven:--ihc bill was brought
inland read first tine.
a gentleman passenger in The Adonis,
from iiaVre, states that "a bill was nitro
duced into the Chamber al Peers on the
2lst OF February, The purp0ri of which
was TO curiall The right Of elections. No
event could have had greater effect TO
arouse the Indignation of The French peo-
pie. The in!rohuccr becoming intirnida-
led. dared not - vote in lis favor,
Mr.. Rush, the American minister, gave
y grand entertainment al his house, on
the 22d February, in honor al The birth
day Of Washington. SeVcra! other enter
tainments were given. by The American
residents i'll London, on tie saiae occa-
sIGn.