Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1826-06-27
Tbe Constitutional aWnfes
MIR. DUNLAP,S SnEEcu

of he
law Oh Inc last session, and revive the law on the
subject of Usury. ~ " TIC
hr DuNLAP of Boston, said that he was AGAINST tho
motion Tor Inc postponement of the bill under conside
ration, and hoped that ii would pass and beco,n . H.,
OF the q tnnonwealti, His colleague from Ros,on
INF eishl had expressed his preference of the law
VI e Ia't session to the law of rs l. and had argued in
MS favour. He did not concur with him in lie ;eu
"a 'ne SUBJECT and the decision OF the Chair Lav inr
oeeh expressed, that upon this question: the whole me-
'''s o 'ne nam question, cpea 10 debate he
! the table. m " VIC '' uPSn
The gentleman from Boston smoke of Tho 5o,;coc, NJ
me question, and the eminent Statesman and JUDGES
no nave oeen IN favour ei removing The prohibitions
S i,''St usu'y' no are they: He has not given us
''c "a'es. W hoover they may he, against their au
'hoFiV Is arrayed the experience of more than trec
thousand years; the authority OF the sacred scrn,r
INC opinions OIL the most eminent philosophers of ancient
and Inodera times; The legislation of the two orco,est
commercial countries, England and France and oil
'he CFiiZed countries the face oi the globe; the
eg's''oa OF the British colonies constituting the thr
tech states VINO declared this nation free and ndcpen
Ient; and especially the laws of Massachusetts rr,r tho
rst settlement Of the country 10 the last session of tho
legislature To these may be added the opinions Of the
iahcrs OF the Christian Church both the eastern and
western empires, ANA tc divnes of every sect of chris.
Trans who, if they have concurred in nothing else have
united IN an unqualified condemnation OF Usurv lie
has also told that should show our self resnect b
respecting the proceedings of the last Legislature: but
Tor his part he of opinion hat tie proper course
was Tor us to respect ourselves, by independent,
course, acCoriin9t best
Legislature did not set example Of respect for the c
Gisiaurc of 1884. which passed the Isurv Law IN tho
legislatures which, since that time bad ac0uiesce in IL
nor did they regard the opinions which had come down
from the earliest times, and had found place, in lie in
/ rsprudence of all enlightened nations Whatever ,os
pect wc may ne disposed pay 10 the last IeeisIaiure
we nave Inc same constitutional powers which tiey
/ were clothed with; and tho same important ,luce In
discharge TO our constituents, who sent us here Tho,
hesltacd not TO repeal the a,v Of 49, and vet ,at 40
pore e Signature OF John iiancoc then Governor of
me Ieinmon"eal!Il and Samuel Adams then President
az lie Scnaete two great natrots TO whose t,Icnts
and consistency in the of American liberty we owe
the privilege OF this day assembling in this place Shall
we, them be bound down by resrcct for their donrs
when they so little regarded the doings of those vino
preceued thei The manner, too, in which the law of
Inc last session passed, not calculated to impose any
RESTRICTION upon the exercise of the constitu-
t'onai powers OF this Legislature. The measure did
not spring from any executive Tccomme iations il was
not asked Tor Oy any petitions memorials from tb.
p'1re- originated in the House of Representatives
aHd ID ctec II hnaiy passed, not by large majority
su' oS lc casing vote o the Speaker. Surely lIcn
1t is no; too muchO attempt obtain revision af ts
SUBJECT, and restoration OF the former barriers raised
ny feiGon philosophy and law, for tile protection of
thc weak against the strong, and tho poor and n NO.
ccSs''ois' against the wealthy and the ayaricous
Having said ;lus much in answer TO tie remarks OF
co.eSeuc ne would now proceed to express brief
y as tie Importance of the subject would admit his
views of the general merits OF the subject under discrs
SION lie idered the law the last session as in Of
'ec an abolition Of all laws against Usuyand instead
q ocing entitled an act TO restrain the taking Usurv
Should have been entitled encourage extortioa
and Tie taking ofcxcessiye Usury ThatIaVy ,r3 rr
nishes shade" OF a shade of protection against jsnry
II a man i rs an hundred dollars, and pays in advance
90 per cent interest for this ensrmois interest once
Pa can never be recovered back by the express pro
visions OF the aw; and the payment of the hundred dol
ItTs tic whole principal sum lent may be cnforccd-
Neither can Tue usurer, who has taken advantage of ;c
borrowers necessities, To practice extorlion no
matter hew great upSu hm, be indicted and punished
The man who has submitted TO the extorti0n who has
not paid the interest IN advance but hss merely bound
himself 10 pay the excessive interest tl.c only case in
( winch person can avail himself of This law he pcr.
laps broken III spirit By cXacfions will not expose him.
sell 10 Inc u5urefs resentment i'll whose power lie is v
reason {" hIa obligation To pay lie principal debt merely
ioT itc sake oi avoiding The payment tie Interest,"
he induceincnt is not sufficient and ic will not have
lie heart and thc courage 10 resist the OK oron and
oppression Is pot then clear that TIC lg Of fie last
session, which we called upon TO respect so highly
eXenpIng the lender from all prosccuou for the Of
fence. "nd providing that the interest being once paid
81 shall never be recovered back and that tie prime pa
sum lent is IN all cases rccoyeabic is in effect an en-
tire repeal OF all Jsury laws, permission If not
. an encouragement 20 all kinds Of Uoufy and cxtor.
tom
Having spoken Of tlc general ccrtrn,nso, o sriry
IN all civilized countries and in every arc he might he
asked for lis proofs he you'll refer in the FIRST
place, 70 The best of all authorities the Bible In the in.
functions, TO tie chosen people whom the command
nen's were delivered, II IS explicitly declared by Moses,
tnc Bawgiycr inspired by Heaven, SuntU v brother,
thou shalt not lend upon Usury." lie knew that he
might be told that he had not quoted tIc whole verse;
that 1t is also said. "un'o stranger inou naycst lend
f upon USnry.n The distinction between that people.
and tic stranger is destroyed The partition sal
isnow broken down by the christian dispcnsatiou aud
consequently what once dictate Justice and be-
nevoeuce, 20 influence the conduct Of e CIV towards
> ono Of his nation has become uuivers
dictate ofjustce, ard beucyOcucc 10 be observed by
man, towards all bis brethren Of the human family
The permission TO take Usury Of The stranger was
merely political PrecePi, The prohibition Of Usurv
a mo bseTt!r
measure which tic Jews directed 10 wage against
The stranger nations about them lest by tic Indulgence
OF good feelings they should become associated with
u'cm, contaminated by their doalry and corrurions.
and the knowledge OF the true religion be lost. they
were commanded - ''b0ye mercy upon than" Usu-
~, Sir in tie very letter. This is not strange sup
posonit is sustained by the opin ion Of the reuown-
ed English lawer Lord Coke, who considers that the
Jews were permitted TO practice Usury upon strangers,
as hostile measure in order to destroy aud dcpaupe.
rae them. II we look 70 the new Testament, We shall