Herald of the times. [volume] (Newport, R.I.) 1849-1856, 1854-12-14
HERALD OF TAe TIM7S
1hURSl ~ ! &c. IL. 1854.

% Very many OF tbos, who loan and
hire money. In this State, are decidedly in
iavo1of ablishing the Usury Law, and
all laws, to a certain extent, in regard to
interest on borrowed money. We think
this q good proposition, for we can see
no reason why man or a Banking institu-
ton should not charge such a rate Of in.
terest on loan to customers, the same us
merchant puts whatever profit he pleases
upon his goods which are in the market for
sale. Every one will be at liberty then to
charge whatever rate Of interest he can
get, and man who wants to hire money
will make the best bargain that he can,
aud he will give an increased rate Of inter-
est just in proportion as he wants the mo-
ney. Although the legal rate Of interest in
this Snte now is only q per cent, and no
more can be recovered in law, still a very
considerable proportion Of money hired 10
had at rates far above the legal Interest,"
but the transactions are 10 arranged that
law cannot reach them, in most Instances,
even II borrower was disposed to endeav-
or to avail himself of the law and escape
all but the legal interest. II the usury
law was repealed, and simple law pass.
81 legalizing any rate of interest which
might be agreed upon by the parties, and
requiring the same to be specified in the
note,-and If this was not done, then de-
claring what the interest should be,it would
be much better for all concerned. We
trust that this matter will be brought be-
fore the General Assembly at the January
session, and that the changes here suggest
ed will be made,--at least, let the expert
Inent be tricd, and il it does not operate
well, after fair test, it will BE- an easy
matter to 60 back to the old system. Pc
titions are in circulation in New York for
the repeal Of the Usury laws in that State.
ANOTHER BACHELOR EDITOR CONE
We learn from the Newport NsUs that
WILLIAM II. CRAxsros, Esq, one Of the
editors and proprietors Of that paper, has
been making vows of love and coDstancy
al the Hymenial altar. I his is not unex-
pected to US, Tor we have long since fear
ed that the charms OF those Newport dam
sells would be too much for The susceptible
heart of our bachelor friend. Well, Colo
mel, although you have turned traitor and
left our ranks, we offer you and yours our
warmest congratulations, and wish you
cloudless path to the end Of The journey
Boston Bee.
In answer to numerous inquiries, chiefly,
as il is evident from the handwriting, from
young ladies', we state that the William II.
Cranston whose marriage was recorded IN
yesterdays Journal, is not the editor Of the
Newport News.-Prov. Journal.
We have been accidentally and uninten-
tionally, as far as we are concerned,
brought before the public in such man.
ner as to call forth numerous and very graft
flying congratulations, IL we we're entitled
to them, both from our bret hren of the
press, and friends in general. We were
in Providence Wednesday, and had to
shake hands so many times that our right
arm finally became weary. We have been
placed in this embarrassing predicament in
consequence Of the announcement, in our
columns, few days since, of the marriage
of ayoung gentleman bearing the same
name as our own and very many persons,
concluding, we presume, that there was but
one William II. Cranston, very naturally
supposed US to be the fortunate man.
However, this is not the case, for we are
still on the bachelors list,-at least, we are
under the impression that such is the CASE
although in these Know Nothing days, it is
very difficult Tor man to know anything.
We, therefore, beg leave to extend TO our
friends of the Bee renewed assurances of
our distinguished consideration. and 20 in
form them that we have not turned traitor
and j eft Their ranks. Our friend Of the
Providence Journal has come to the rescue
and endeavored to extricate us from our
singular position. by announcing that we
are not entitled to the usual congratulations
which are extended to man when he leaves
the state Of single blcssedness. The hap
PLY worded paragraph in the Journal bears
unmistakable marks ofthe Governors keen
wit.