Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1833-05-25

energies in its prosecution by opposi-
ton. What part did my competitors
take on this question, is for them to
tell. Another state question then a.
rose though apparently small, yet Of
mighty consequence to the public, in
which had my part to perform, and
mj enemies to make; mean the sub
ject OF interest on money. By over
trades, and by too mnch indulgence in
ease and the luxuries of life, the coun-
try, generally, became somewhat in
volved in debt. The monied men Of
the country, thought they saw in the
aspect Of affairs fine prospects for spe-
culation (and ! ask the people here to
mark in what l am going to say the
origin of other plans to prey upon the
industry OF the country, that we're at
forwards brought into liie) and accord
ingly it was attempted in the Legisla-
ture, to take off all legal restraints upon
the use of money, and make the cri-
terion, the avarice Of the lender and
the necessity Of the borrower. The
two most prevailing principles that
hold dominion over man. ] opposed
this because thought the tendency Of
the principle Pernicious to society and
calculated to retard the improverns mt
of the country by giving the money
lenders (who compose less than hitieth
part Of society a means OF making lar
ger gains, by the use Of their money,
than they could by investing it in land
and improving it, or than the husband
man could bv his land and labor to-
gether, which would ultimate in the
money lender fat -ening upon all other
occupations; yet this measure by the
perseverance Of its friends finally sue
|Ceeded. And when the stock on hand
|of the money lender was exhau4 "a,
mark what followed, and mark who
were the friends Of certain other mea-
sures, near kin to the law repeating
all restrictions upon usury, as the 1el-
low labo. er Of the law just named, a
plan for a state b,nk ushered forth.
Its friends (and who were they, it may
be asked, and how many Of them till
the soiD Pathetically bewailed the con.
dition oftlle country for want OF money
and as relief measure, to favor the
agricultural interest, proposed by tax
alton or what is worse, by loan upon
the credit Of the land and industry OF
the country, to borrow eight hundred
thousand dollars to found this bank
upon, aud this immense, sun was to he
placed in the hands OF few irrespOn.
sible men; who by their skill in money
matters were to work out an exceed.
ing weight Of glory. But if the bril-.
liant Sc heme should Ike a bubble
burst, winch was reasonably to he ex
p, -cted, why then the state zras JUS
only 70 lose ell the money, and those
lovers Of mankind vino Cohlured ul
the scheme were to lose their banking
employment with y just as much
money as they thought proper to take
to their own keeping. in the meal
ItIme.-And what was to secure the
present aud future ages IN the benefit:
of tins bank, was IA provision i'll Its
charter to which its friends seemed
particularly attached, to protect scru
Pulously the names Of gentlemen who
might DC borrowers, from vulga,
knowledge, and to reveal them only il
due course Of lcgtl proceedings.
could see no necessity for this my stery
II conduct. can yet see no reason
for yelling the transactions Of a bans
from its real proprictors. 1T It wa
designed To have been honestly man
aged tor the good Of the people, WI,
moi give them an opportunity OF know
ing It; why shut its books against tn,
mass Of its owners, for they are no
over anxious to Pry into private affairs
nor could it be considered as Disgrace
TO DC a debtor to d bank, although i
might Sometimes account for the ap
Pearance some gentlemen make II
the world. 1t Is tor the friends Of tn
bank 10 snow the necessity OF tna
fundan entail principle. For my par
l assure the pubic think just as wei
of that one rs any other feature la ii
charter. viewed il in mass as a
,engine to =, b and desolate the ountry
Aud as such l treated it and spoke o
it in the hall of Legislation. Yet
had friends ia all parties, Jackson me
!, and Clay men seemed alike cnamore,
with it. 1t had teats to suck.