Vandalia Whig and Illinois intelligencer. [volume] (Vandalia, Ill.) 1832-183?, 1833-03-06

THE UsuRy BILL, introduced at an early period
the session, became a law but few days before the
close. 1t was favorable measure with the mem
bers from the northGrst introduced and most warm
Iy supported by them and whether, in its operation
1t be found beneficial injurious, its good i'll effects
will be most directly felt by them and their constitu-
ents In the norh the evils of the practice ofsury,
whether supposed or real most loudly complain
ed of; speculation in money is not SO much the rage
any other portion Of the state and perhaps the de-
legates from that quarter but obeyed the voice OF
their constituents in bringing forward and sustaining
the measure with all their ability. Without impugn-
ing the motives of any member, we may however, be
allowed to say, think the principal provision oil
the act, fixing the rate Of interest," to be essentially
founded in 1t is determining By aw the value
of an article which the principles of trade and
change should, and in the end, must regulate, and
Recommending, at the time, the freedom of Pri-
ato ctigens in their intercourse and every day trans
actions with each other.
Money, it will doubtless be admitted, is but
tcle of trade, and of must be regulated in its
value by the rules which fix the value of other
articles brought into market; the supply and de-
mand are, will be its value: If it differs in any
spect article Of trade, from articles of produce
and manufactures, we have not been fortunate as
to see that difference clearly shown. Beside, if we
may judge from the history of legislation at other
times and in other places, law this subject
attain the end proposed The statute of books of all
civilized nations TEEN with laws against usury, but
still the practice has prevailed The Glove Of money!
md the watchfuness of self interest will devise ways
to eude the penalty of the severet laws; and the
verer they are the harder will be the operation
the very persons for whose benefit the law was design
ed for in nine cases out of ten it will be found that
the borrower not only fails of getting his accomoda
tons at the statute book value of money! but viii be
compelled to pay the lender an additional sum for the
risk he OF suffering the penalty of violation OF
the law.
The money lender, under all circumstances, is sub
jected, though unjustly, to some degree of public
scorn the very name carries with it something
of reproach, and those who the most forward
to court his society for the ''ahining qualifcatons'
which he discovers, the most ready to denounce
him as hard hearted unfeeling wretch, living with
out labor, and expressing the poor merely for his
gain. Yet if the subject be viewed dispassionately,
the farmer and mechanic are as much deserving of
censure their transactions the usurer in his. If
n man goes to market with beef and pork, he takes
the market value, and returns to his home without
and perhaps with the thanks Of the persons
he has supplied; if he goes to market with money,
why may he Hot also take the market value land why
should he not at least escape reproach if he do? He
has done no more with his purse and bank notes. than
every f.rmer may do with his cart and cabbage. He
has taken to market such an orticie he had, and
disposed OF it at the market value, and no man is
ever expected to takes less.