Burlington hawk-eye. [volume] (Burlington, Iowa) 1845-185?, 1851-01-23
Correspondence of the Hawk-Eye.

DR. SHES in the Chair, had under consideration d.
vers amendments OF the House. One, on page Is,
section So. caused little mirth by it, rcjection-
Mr. w right moved that it be adopted or concurrcd
in, as they hal agreed to almost nothing from the
House, viz: that in the sentence ssdeceased out OF
the esate,'' obviously mistake of the printer for
sSfafc,'' (Which, by the way, ought to be uniform
" printed with capital S. when itmeans the com
! monwealth of Iowa,) the first letter be stricken
QUIT was neg atived, as with determination to
| stick to the code printed any how
On p. lss. rs section, the amendment ':personaF'
property, from the House was disagreed TO. SINCE
! as the code interpreted by the Commissioners, 1t
leaves all property, both personal and real estate
to he sold a credit, while the anne ndment OF the
| House extending the time Of crecit from 'nlne"
| to tme're months prevailed.
! On page 1873. the additional 5th section amend
ment of the House, limiting interest in all cases
| 10 ten per cent, came up for discussion ana ell
cited debate occupying the rest of the day and
part of the day following. The whole subject Of
usury came up. Mr. Wright said he would call the
attention of tie Senate to what he called great
Inconsistency in the Chapter. as amended by the
proposed addition Of the 9th section from the
| House. Il virtually allowed any amount Of inter-
est in private deal, but when recovery by law was
enforced. only ten peI cent. Indeed greater in
consistency stH appears TO me TO be found III the
previous section, which says that the judgments
or DEGREES Shall bear the rate Of interest as
before the ssue.'
Mr. Espy insisted upon the restriction often per
cent, as amended by the House and read the whole
Chapter arguing its consistency.
Mr. Letngwell was in favor of concurrence,and
added, the gentleman from Van Buren,( hrWrlgho
argued, the other day, for the abolition of all laws
for thc collection of debts. He, (Alr Vs. no"
| wants laws, and would have men take all they can
get, which he. Mr. Leifinswell) was in favor OF.
Mr. Wright misunderstanding to Sec. 4th, as
I understand it, any rate on contract is rcto'tTa-
bic Ivy Law. And the proposed 9TH section makes
only ten per can't, recoverable upon any contract
wAatevcr;-that is when put in suit at law, altho'
the contract may have expressed 1ny per cent,
and the debtor may have paid fifty, up to the suit
After the judd .ment he gets By 4th the amount
! expressed in tho contract.
Heretofore, the statute fixed the rate at tie time
OF issuing the judi gment and not Of contract. But
this Chapter now changes the rule. This is incor-
rect ana improper. Nor do see my friends con-
sistenCy. / submit whether am not consistent.
| saw make no law for collection Of debts or make
consistent law, that will not allow fifty per cent
in private contract. If this he allowed then make
il a law. Otherwise make laws complete and eff
| fcctivc.
.,,,- g., o,,.
50" ""S aug i"'e ~
more IMAM io' Any '''''' '''e' '0'''''S' WIN
E'ei' '"e argument. II "" in ."' ''' "''
next year IL may i"'' "e''" - "a '''0 -
I ffxr of =
VT Lewis "''"e''e" no ''N'" '"'e W
'"hC"'' ms VIA" III "''9"''
ME- Lspy opposed 'he''e"S Oh NeS'f' " t'7"' anu
Lewis. lie al 5"e"' is'' 'A' 'i""ts van ''e SIAN
dAFa OF fainA'Ioh' III: l. was 1Ss@l ''n"'L'
Besides, tSai" .NF h'pa) can Oo'Fo" money
tor SIX per Ceht':' 10 40 business WIN Nh"' ''"'e
co"''S !" 1o' "''" '''>' N''> P'i 10
'"1rn'h III most ~ tic H'"''S' MS ia" '"'' ''0'
prevent higher interest. IS tn" gentle man from
Clinton, tir heihn@"eIl'l argued 10 I"hs "S men
10 not contc tAin CONT 10 enforce Inc tohec'loh
! Of interest, il imposes no restraint.
AIr Header shot It proposed amendment, by in
sorting in sec. j, rate' ldoes net exceed ten
per cent in lieu Of the House amendment. He
saiAit is difficult matter to tell the ditiererc &C
between money aud other things IN theory out ia
practice there IS wide d'neEcnce' IL ou5h''
therefore, to be fesI'lcted'
Mr Len 3g"el "onld falaer Vo'H all 'o"'FaC'S
made at higher rate OF interest 'h'hteh lcf CENT
He went on 10 iiuStFatG the case hy mef'h
closing out business, where customers mat h3a
been long time accnmmooa'eo' "oo1' f1'nei COR
sent TO higher rate, than be put 10 'i"uo"'
Mt NfiEh'' III aiiHSloh I" d i'''i'" '''''"' n ~
, ''f ho'""k NS''' u" "'''~'"' - 7''
Inc interest," man 'o"'' paw ''e'' I, = '"' ,"o
said c''"'Ee '"S '"''e WV ''' Va ",S
triehd "FeamS' he IL f'b'''9 ""Ne'S'"'"' -
II! '1''i o' any '"" ala "''0' VIZ ~ ANY 70
, | Mr. L. heFe eNi''''he" an" "'S"' o"eN ~NN' 90,
f~'e''l WI ''6''' ''"'' --~N
say, the o'heF oay' '"' we ""5''' Io' do
, lure 10 oe E'''i" ~"' !" Wv
, ! l1W' oy any Particular '''S' any ' ' ~
eht me- II fel''eS 10 '"""'!'0 "le"' '''V'
, rcct TO be lender oil money 'e''' ii'' sly NUN
ey IS the representative vi ali '"''S' ''S''" avs"
tender anu thati Is Po"eI'ui' h"' Ia! "'" "
p pF"P"si'io" '""' i'So'''! Inv S'.s 7 10Y 49,
lows the Ia" Oh oei""I" """ supply ''-""s ~
pears one price, 'oh''iio ~" "'''"''' " ' "
the ed'"e aS hNe"' an" '''''i ''"'e1" ~
dollar iata on TINS 'ao''' IS Always "o'''' III
form, the same ooiia' 3et us ili"s'' '"i0o ina!
change. just as that OF morse. Ana IL inc '"'"e
may change, Ike that oil every lhihs eSe' IN '"e''
reason