The Virginian. [volume] (Lynchburg [Va.]) 1822-1829, 1823-05-13

paDy the uefo of the Governor oi Inuisia-
ma against the Usary Bill, lately under dis
cussIon and rejected in the Legislature of
that State.
| TO TIE SENATE.
| | have given 10 the act, entitled " An
act To prevent usnry, and for other pnr-
poses" all the consideration which the We
ry short time il has hren before me. would
allow me tn hestow ON it; aud for the
purpose of enabling the Legislature again
to act ON il previous 10 their adjourn.
ment, returned it with the following obiec.
tions.
II belongs 10 class of laws which do
not approve, to IA kind ef legislation in the
propr'ety of which cannot concur.
Religion, the press, the price of labor,
OF articles of commerce, have all, from
time to time, been subject to the rrguh-
lions OF governInent-one by one, however
they have been reluctantly freed from re-
straint, aud the great truth generally ac-
| knowledscd, that mankind, when left In
themselves, are better Judges than their rti-
icrs' "l what hestpromotes their happiness
and Interests
| Too much interference in the affairs of
|
worst effects. Despite governments ma
mage every thing all wisdom, virtue, tai
eni, Is with those in power The people,
III their estimation, arr ignorant, unworthy
IOt confidence, unit To be- trusted even with
Their own concerns others very kindl,
save them the trouble of acting ar thinking
for themselves, and make them pay usurl-
Gus interest indeed, for the care they
take OF their property, their body, and
their souls. Free governments leave md
vldnals, AZ much as possible, to themselves;
indeed freedom Of action, and freedom OF
contract, abstalnlnG always from iniuring
Others by force OF fraud is the very drfni
ton ut personal liberty ---oi that liberty
which II Is the duty of governments to
respect The citizens of our Republic are
not minors ina state of pupllage; they have
not constituted their public servants, their
masters and guardians; they are not so
modest as To deem themsel,es Incompetent
To attend 10 their own business. aud they
know very well that agents aud managers
do not take better views than their prln-
cpals, of transactions On which their pro-
perry depends.
The act under consideration does not
appear to me Ia have been demanded by
the community that part of our society
N this city, whose interests are particular
| " concerned, and whose opinions deserve
great weight, object 10 the measure as mis-
chiev Gus in It's tendency To the citizens OF
the country it is probably as nnwelcome
as unexpected. During the last summer
and fall travelled over the greater portion
of the state; heard complaints Of the want
of an organized milltia-of the situation
: offhp public lands-oft1e tcfencrless state
: of the marine frOntier-l heard nothing
said of usury. Ii the evil exists, it is bro't
on individuals voluntarily, and mankind
ordinarily are ashamed of denouncng their
own folcs, or whining over their own
grievances.
That there is want Of money, am not
disposed To deny but thai il can be made
/ by legislation more abundant and cheap,
| ! canrnt admit. Ii is not wonderful that
there should be scarcity of specie, aud
Of course any valuable representative Of II,
WHEN we reflect on the Ealing off of the
produce of the state, both az IL respects
quantity and price -on the ueed and occ,l-
SION for funds always felt by an enterpri-
sing, tlourshing, and Industrious pcope---
on the expectation irom the u. :. in the
last eighteen months of upwards OF 1000
900 of dollars. lu Boston alone, IN 4 few
months nearly 1000, 000-Were taken out of
the accustomed range OF crcaatlon--thc
pressure WAS great indeed, but that intelll-
gent people resortcd to 40 unusual cXpe-
dents, neither 10 usury laws, nor an in
crease Of banks and consequent lnundaiion
of paper-they know very we'll that the
movement of specie and its price were AS
independent of human ordinances as the
currents OF the ocean, which ebbaS aud
fowng, Seek their level, regardless of the
chains of Xcrxes, or the mandates oi a
Canute. No individual. 40 community
that has any thing af equal value 10 give
Tor money, need he apprcheas're of not
obtaining it, 1t goes where 1t is wanted
and can be purchased with more certainty
and more celebrity, than coin, cloth, or any
article whatevcr--ve as surely get money
for produce as produce for money
we as readily procure Spanish dollars for
flour, cotton &c. as in Spain they obtain
these articles for their dollars there is no
danger of their being enabled to prevent
thelreXportation- this experiment has been
sufficiently tried in Spain, Portugal, and
other countries. Money escapes in spite
of every eilortto conl.nc 1.-THE attempt To
do so is as futile as an effort 10 stop up the
pores of the skin.
am opposed, Tor my part, to regulate
the price of any thmg--the bread Of the
baker, the meat of the butcher, the money
of those who have it, is their own proper
! ty as mach so as their houses or goods
1 ~, To wi ,.Vt,
or not on such terms and on such alone as
they may choose. Tolls at bridges, fer
rles, loans by chartered companies. these
are privileges conferred by goveItfneut, s.,
Of course subject to such conditions as go