Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1838-01-17

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mand Of the borrowers, and the compel.
ton of the lenders. The value of money
like every other article ofcommcrce, must
be regulated by demand and supply. If
you authorize the lender, by special con-
tract, TO take ten per cent per onnum for
the use of his money, you are certain Of
accomplishing at least one thing, and this is
that every emergency, you bring the value
of capital up ten per cent. In the mean
time the harpics and shaycrs Of your mon
ey market, are rid OF all honorable compe.
tition, and cxtort the most cxtravagant and
usurious interest from the wants ofthe bor-
rover. Butthe moment you destroy all
restraint upon the free circulation of capt.
tai, it will flow into the country, and open
competition will regulate its value.
AS long as the necessities, and oftentimes
interests of men, induce them to offer
more than your legal rate of value for the
use ofmoney, where is the policy OF a law,
which only throws them into the hands of
individuals, who, in additionto the demands
of avaricc, claim 1.-THE usurer's compensation
for a conscience scared, and ask the usurers
reward for the violated laws of his country.
Establish then a fixed rate ofinterest, when
no contrac; exists between the parties, but
in all special agreements, leave the interes.
ted allowed, to be governed by the direc-
ton of the lender and the borrower.
The geological survey authorized by the
last legislature, has been placed under the
charge of a competent and scientific gen.
tlemen, and is in as rapid progress as the
limited appropriation for the last year would
permit. The examinations for the past
season, have necessarily been Of a general
character preparatory to the more minute
survey of the present year. Sufficient in.
vestigation, however, has been made to rem
der it certain, that Michigan abounds in
such mineral resources as will amply com.
pensate the state for any expenditure the
legislature may authorize in promoting this
survey. The botanical and geological de.
partments have received due attention, and
1t has been discovered that the peninsula
of Michigan furnishes an interesting field
for investigations in natural history. The
central portions of the state belong to the
coal formation, and sufficient coal has been
found to justify the belief that it exists in
abundance. Iron and gypsum have also
been discovered in large quantities.. The
examination of the saline springs has been
carried so far, as to render it certain that
we posses an extensive salt region, and
that with but comparative trifing expen.
diture, we shall be enabled to manufacture
salt in sufficient quantities not only for home
consumption, but that it must become an
article of extensive export. The whole
number of saines granted by the act of
Congress have not as yet been located, in
consequence of want of time to examine
the northern region of the state but such
number have been secured to Justify the
legislature in authorizing preparatory
measures for bringing them into public use.
| beg leave to refer you to the report of the
State Geologist, which will be laid before
you, for all the information you may desire
on this important subject. But as that of.
ficer is at present engaged in an extensive
analysis. he will not be enabled to submit
the result of his investigations at as early
day as he would have desired.
The general advantages resulting to the
public from minute geological survey Of
our territory, are SO manifest, that am sat-
isfied the subject will recommend itself to
your favorable consideration. The deve.
lopement of the mineral resources of the
state, it is an object of primary consequence
as it will afford opportunities for the invest
ment ofcapital in manufactures, and will
enable us in time, to reverse in some de.
greece at least, the balance of trade with
other states, which is at present SO large a.
gainst us. The benefits to agriculture, by
obtaining knowledge Of our soils, will be
immenslY advantageous to the farming in.
terest, and should command attention.
The favorable results to the cause of science
in general point of view, should not be
overlooked nor should we forget the op.
portunity now offered Diminishing an ex-
tensive and invaluable cabinet in natural
history for our State University. And in
view of this latter consideration, must beg
leave to state, that have been requested
by the board Of regents to recommend to
the legislature, that provision be made, by
an increased appropriation for the collection
and preservation ofthe specimens intended
for that institution. join the regents most
heartily in their suggestion, and submit to
you report from committee of their
body, from which strong reasons will be de-
rived for complying with the recommended
ton now make. Impressed also with
the importance of this survey, in its general
benefits to the state, commend it to your
consideration, as Justly claiming partici-
patton in liberal and enlightened system of
legislation.
conceive it an indispensable and impe.
rious duty, again to call the attention of the
legislature to our penitentiary system, and
to urge that means may be provided by
which it may be brought TO some degree of
perfection. The commissioners appoin-
ted for that purpose, will at an early day,
recommends point for the location of the
state prison, and report place for the
building, together with system of gov
eminent for the institution. The great
object intended to be accomplished by i'm.
prisonment as punishment, is the refor-
nation of the offender. Any system we
shall adopt, must accomplish this end, or
our penitentary will become the school of
vice. The reformation of the morals of
the corrupt and wicked, enlightenment Of
the ignorant, and the employment of the
idly disposed, are cardinal objects, not to
be overlooked in your system and disipline.
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