Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1852-03-17

cent , " hich is now, and ever since h as been,
the established rate of in.eIes, 10 England.
Since the enactment Of these Statutes,
usufy may be defined 10 be, the taking ot
interest above the rate allowed by law, and
is not now 10 be taken in the sense IN which
it is used in the old Testament and by The
early writer's above referred to-, as appllca-
ble 10 the taking of interest simply. But
even by these Statutes, usury or the taking
Of greater interest than that allowed by law,
is visited with the severest penalties, some
Of which, i. would be we'll for the Legisla-
ture 10 incorporate in the law which they
may enact, TO carry ou. this provision OF
the New Constitution.
By the Statute of 12.h Anne chap. l6,
sect. |, the usurous contract itself is not
only made utterly null and void, but the
usurions lender shall fprfei. and lose for
every such offence, the treble value of the
money, goods, Sc, SO lent, SC. And by
The second section, sail and every broker
and brokers, solicitors, driver and drivers
Of bargains for contracts, who shall ,ake or
receive directly or indirectly. any sum of
money, or other reward or thing, for the
brokage, soliciting, driving or procuring "a
usurous loan, shall forfeit for every offence
G20 with costs Of suit, and suffer imprison-
naent for half gear; the one half of which
forfetures shall 60 10 the Queen, and the
other half to him or them who will sue for
the same, by action of debt, bill, plant, or
information"
!, will be observed ,ha. this Statute Of
usury Of l2.h Anne, omits that provision
of the 5h sect. of 81 Henry VIII, chap. 9,
which subjects the usurious lender himself,
TO punishment by imprisonment ; whilst il
subjects the broker, or procurer Of usuri-
Gus loan, a person who is certainly not
more guilty than the usurious lender, to
imprisonment for six months. This incon.
sis,ency in The Statute of 12,h Anne, is no.
easily reconcileable with principles Of JUS
tice, and its obvious defect in this particular,
it is hoped, will beremedied by the lawmak-
ers Of the present day.
have thus reviewed at the risk fear OF
being tedious, The rise and progress of the
laws against usury. From which it will be
seen, that by the common judgment Of man
kind, founded upon the expressly revealed
will Of God, usury has always been consid-
cred as detestable crime. That punish
ments Of the severest kind have been provi-
ded against it, and that, in England, 10 this
day, in some one Of its forms that sort of
punishment! is now annexed 10 it, which
usually belongs to offences Of an Infamous
characlar, ! trust it will be sufficient 10
exonera,e the Convention which formed the
new Constitution, from the charge Of innova-
ling upon we'll settled precedenls and opin-
ions, when they acquired by fundamental
law, the General Assembly to. enac, laws
Furnishing usury, as a crime.
With regard To the general policy Of this
provision of the Constitution, in The sense
in which II would be regarded by enlighl-
ened views of political economy, have to
think 'tha. money, beng an article of traffic,
ought TO be allowed, like all other articles
Of traffic, to reap its own price, In the
first place, it requires a degree Of skepticism
which do not feel inclined 10 cultivate, TO
overthrow the oracles Of divine law on this
point. As we'll may we say, that theft, al
though forbidden by divine law, is yet, and
ought! to be allowable, because The punish
ment Of il is restrain. on our natural and
instructive sense of free agency. But this
argument will not answer, because i, strikes
a, the root Of the divine law itself, and to
those, who like myself, believe in the di-
vine law, i, must fail 10 convince our judg-
ments.
Blu. independent Of all difficulties Of this
character founded upon the divine law, do
no! see how money can, in any just sense,
be called proper or fl article of traffic.
Money is, TO be sure, he basis and standard
Of all values which, are themselves. the
subjec, Of traffic. |, has no value of itself,
but only borrowed or reflected value
The thing it represents, (that is the thing
we consume in our wan,s,) is the thing of
value, and the only Thing of value; and there
fore, being the only thing of value, it is the
only fiji subject of traffic. And for this fur
ther reason, because traffic rests on no other
idea than an exchange Of values. OF wha,
value is money per seq ] answer, none
whatever. Money represents vslues, bu, i.
canno. represent itself, first, because being
of no value per Sc, it can have no represent
tatve in this respect; and secondly, because
il cannot of itself contribute to our wants, or
assist our appetltes: in any department of
consumption which Nature has provided
for US. Why then should i, be, and how
can it be, an article of traffic =? You mus,
reverse the laws Of nature, make The barren
f1nty rock redolen, of roses and pruient Of
life before the dead carcase Of money, can of
i,selfgive life or food to suffering humanity
To say nothing, however, of distractions
on this subject, let US look at the question
in practical point of view. And in this
respect, Mr. Editor, permit me to say, that
agree fully with your correspondent, 'An,o-
nio' in every thing he has said upon this
subject. He very turly observes .ha, 'our
usurY laws. SO far from having the e effsci 10