Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1850-10-25

may gos he VIII 10 that business bts 10 Obtain +,
upon l''e terms he was compelled to loan il when
he held I iftaeEe was perfect equality and fair-
ness 70 AZ aus 4 consists ssh both individual
and geaers welfare
lie bad DIS, adverted 10 the iasfifeaton 81 the
money isinasr, that there were persons who coaiI
make faaea more Than the legal rate This was
true, and bel enld now submit an5aher reflection
upon high rate Of Interest or interest moi re-
lated By laa. The efieeEofit vas. as only per.
sons wAa possessed eXtFAoFdinary capacity Could
afford highitates OF interest, toconne tie active
business OF seciaty 70 very fec hands, or in other
words 10 constitute an eliearchg III business men.
H. on tie other hand The rate OF interest is mode.
rate, fixed and certain, the number OF business
men will III Increased, FOR many men, then, ol
moderate capacity, cond enter Into its compel.
tions, who are now eifeet6ally excluded. Men
OF mcdefatqI capacity, WHO moald come into busi-
ness al h%hd rate 0t INTEREST, MOULD he willing
/ 10 woi hs faer,to live mote plainly ag3 10 work
for less tslaH tie sharpers, who can Keep their
heads vi .sta5etr Superior WIS lit spiJu tsr.
high rates steY are compelled ID 5ayt1r The use
81 money orefatit lhc means 81 Ebn3actiag I'D.
siness l'lss< condition d itingFIVoUld redaunl
10 the good HI ill, wAiist ID wpdi work iasu-y tb
none. Ihesp4aIn men, Mo- by!iAeir ftiisality
and low ntoais, col.d come lnto ieie. active bush
ness IL i5e8IWpaIi lacreas ~ the rpsnpe 1as oE
that bnsiness, aud ihus benefit tleotisnal prola-
GERS Hlsasi4the rneh- Superior dsbagity would.
be relletef lToia the necessity oil Htaflfiate prafy
upon Tbs original producers, - ifit6mnity them
st1tes Ur ttft i14ordadie interest uley n0W pay ID
the non-prodec'ng and mopeNad class. AS
things ngW are, they must eNtgrl from the pr6dg
cling classes Whatever they pay t55he non pro8G,
GERS; lor,it N ap9n la5ar u 4q3t tI4triiher hgR
raIe q llteFeNi, OF hfsa profits up9n cred IS mvss
iall.
lie knew, Re aid, t6at ba3fks hRrr b,ea resoft4
edlo as one bf the means oftIin!f.hr anu Itssen.
lng the feuga %. u5dty lhey- hl4l been landed
by some As senting t1 that very result Bat. he
thodeht,thatapnle you fin aud II rareJhe tate
qn money, ard also the rate AZ which men may
speculate in eft dit the sdb>titutetdt mGneY tHe
Observation-Disclosures derived from 8htks, wele 1fa.
Tier sPecieasthaq real ladetd, flu his opinion,
the concensrahen ot metal money Bl: banks, ihat
gave 10 bank ttedit Us superiority hrer private
credit Was diFec4ly calculated q, lfagne o. cGtn-
bIne the bkAks ana The nbn. prod{|ciag spetaa,f
-ioFs agAnst tie community, 'n&Iess this was
done. Bank4live ATTENDING tcHcitdls-tdeir
notes are nothing mhre-and 10 jF5Kibe extent
that private Sedts ale displaced a&d.dov0urCd, isl
their busnea4 EXTENDED and rnornt made for the
circulation q their hptes Or credits Here, then,
Is a direct SYMPATHY between banks and shavefs !,
and tempiatEcn to the former To ttketlpe latter as
their tools 10 enlarge life range bfitheir opera
lions, IT'S pTltcettH, comnyHnti Wand 10 protect
private credits, it is not enough iii prescribe the
rate Of interest," al Which bank mAYlend its etc.
dit hut it Ise4sental to.fX the rara 4, which pri:
waite credits MAY be fought and s9ti Unless thtsI
is DONE he believed that tile MhOia banking sys-E
TEN would bfebut additional machinery, in theI
hands Of The money powef and The str4ca fte,H
its favorics, Who CO operate will II to} reduce
the aborng masses - settshiP, and 10 PrulnceE
that imnenseHinequalfy ia the diflsio oS wealth.
thai was SO universally complained NJ. ! D. would
90 further and say, that whilst tile limitation afi
the rate Of inerest and the pRrcha5e ot credns-I
and The first could not be secured NitEolt lhe
latter-woedI render the banks iFss dapgerous
and more useral. it would il tile end enable the-
people TO dispense with banks every where, but
in their large commercial empora, il not entire
ly and, aEstke same time, give tilau1= a more
eqai, and -nt+r credit system thar y,
now possessed: Labor, ard labor alone, brought
into communities aYttheir metal money or com,
as il did all other lAags Of valuej Hi the c8in
was left ID a $ta;e .pt natural dfItsioA, f eaer
man was the keepet of his own mBney, then all
men VIII ee able . compass their sai4fe Of it, as
it HilI be near them, and id hands Ut tbeir neigh
hors, and win be ahle 70 snpFort tAcir credit as
they may c4oase 10 use is,,aS tide GhFtks now q
by concentrating the coin of the cdantrv, an4
thus bring 5gIlt reaf them, ani Realty b lht;r
hands. 1hla tttlfsion, or ntarS PETS bn Of meFdI
every where oFer lie fed tpt lab5r;a&d where Il
properly belongs CONNECTED wit. al Hred rae az.
iaiefest onsf would make pFivatai credit sutli-
GENTLY caHi E5fe Tor n iatI. pu ibsss # hor
eign cft dit i tGqnjred or balances Pto he paid
a5rql3 1he saIEp iizFd rate 81 interd3f wl ensure
the forhcotairg III tia coin to secure i6at credit
Or, which IS b4:ter, % pag tltdse bai41+eS Hc<e
then, il in.E and perfect credit system, and
without the AGENCY dfbauks Tile drtdit 81 each
ts tl
ca pacity, bis Eonesy and industry or bly, proper
.ty. FIX the ra:e at which lds creditis Ionyfrli-
bic into coin. brctect It afains, solicitation and
every man wiI. ;hen. know how be Eis7 to shppoTf
his crpda e,l,at Il viii eo., Hin M tSpfse aai ~.
will BE- able }5Ido. H.. The fixed raEe on m8aey
will brlpq il adj TIL ia Inan HIN lha se r
prduert{--Whao aiI Observation-Disclosures for Il
when n cqA,f spssd II. snetn M ini H. uslry
bnhf6 Him tho VA Tbi4tytls NJ p,It#lav Rui
theISredjr systt,n viii be so.nder saod saterfoo
ii II iIl.rest gndn bp nraneFty II ND eneroes
and alltye yiGsgat,ee Of se.ciety E3s,indiv,dpat
knowino6 the lt,ess anon which he fhar have his
share Of creair AN feef dee4, i,,fc1asi h main.
tanning it, Where the credit systen IS now
MANAGED 81 Al fsy. euardsa ana wa.cbed ly
few, and en,Ires 7.tbe benef, NH fev
,y,u f. rnsn1go,, a4d ,,nst,ed slt4 ,stei.etI
h. ,tEa afens So IA ill., yITle sEa vifT fs,e
All eouaI Irferes. q 81 rreseryaffaI Il an
Individual sbb:5 retroi, n. rr5f III. s,5ti4r
ar should b. aba4,ta ,f s,a8nt4i, III ,yeu bv TAM
Is ia mno,y c,,.area to Aftat 81 tAaer c.nf. N
some ner fS1, tlaf tl.a prrais oftis, b,,slna.,-
Wil bear. NAy flca ii n III tro~ hods#tai. im bg
preeess ot (4G fa4.Wfff le T.izs i s4iflTj. ID N,
it,tey4.+.diaF,t.,, "a I3.t.tr. aF.!e[e.stg4 a, t
to Hi ae-n lsie45 snd rta,5*,t tI-~Es tt8sgrs @H
t.,Ir,e ii ,t.sS, A. .,l.,.fI,is., -Es,
would b. bet N 1tsf.g7f4 HI EfaFs- ..s A