Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1854-12-06

Tie usurr laws. in order to bring private and
foreign capital into competition with the banks.
PROVIDED laws do not make Investments Insecure.
Inc dctcieucy of liiOnry in one p.ce Is certain
10 bc supplied from another where. rs |, becomes
abundant The rates Of interest are necessarily
lowered.
There has always existed Il prejudice against
usury and il certainly was 10 be cundrinnrd
where the cola Of Il country was The only circu-
ting medium, aud money was hoared Tor loan
at eXUrbitant rates of interest, thereby placing
il in the power of such individuals us possessed
il, to Il certain extent, tu hold his ncghOovs,
property ut his mercy. But since that period,
now that the coInn,sce of The wDrld is carried
on by the credit sy @:m, aud bills of exchange
and promises TO pay, TO large cXtrnt, are The
circulating medium, money becomes valuable in
proportion lis the cxigencies or prosperity Of
trade make it so. Money, like everything else,
ought to have relative, not Il fixed value
In This State the uSury laws arc rarely en-
forced ; and i'll numberlrsS Instances are alto
gclher disrcgardrd. Larg" SUNS OF money are
constantly being invested ii cXorb;i"nt rates ol
interest. In New lUFk, the paprrof ciiizens OF
tie Stale is frequently purchased at very iar=c
discount. 1t often h#pprmS that The bral Is thus
forced oil by !hr impossibily OF procuring mo-
ncy ut home, with The i!ccrasl!y OF obtaining 1t
either 10 Hlrct stringent prcSScnt engagements,
or to operate III profitable investment.
The discussion OF this measure is not 4 new
one It's adoption is urged with great force in
many of The States Of The Union, and the change
is destined eventually tu be made. II ii be ci-
fccrd in ncigIlburiny States, we cannot avoid ii
here England, that wise nation, and especially
wise in her commercial policy, has already abrl-
ished her usury laws gradually, to be snrc-in
the first instance only affecting her commercial
| transactions: but the change Is How complete,
and is applied TO all her business.
Without opposition to any of the institutions
! or vested interests Of The Stale, have placed
this subject before you for consideration. |
have no desire to urgc it beyond that point, and
{ leave the question to bc decided by your intc!-
gcncc and judgment.
herewith submit 70 You report from the
Comptroller General touching the state o! the
records of bis Office, which i worthy of your
considerations The condition. uf The paper, and
documents referred 10 seem 20 require s0nc al
lcnioil and labor for their more complete pre-
srrvatiUn: and the terms upon which he propo-
scs 10 lave them Property arranged, ndrXcd and
cupird where il is necessary. apicar 20 be inody-
/ rac and n,l.
Upon rcrrring TO The revolutionary and cnlo-
! nial records, ind several cha>Iils which should
! Le filled up. in order 10 make them perfect. |
think il advisable, therefore, 10 authorize the
Governor to prorUrc such copies Of The missing
papers rs can doilDl!csa DC obtained from! the
Elglisll archives.
! beg leave 10 lay before you the reports an'l
accompanying papers upon !Ic subject OF ihe
new State t:ai!u!. They will b. found 10 be
full and explicit.
In N, last annual message had the honorto
State TO the Legislature That l'lc new State Capt.
ol WAS in proper progress Of construction: that
the auspicrs under wiich tic work WAS carried
on were satisfactory that The work itself was
executed in Il mannerr. once elegant and sub
slalr,iai and that, building would be crrrtcd
upon The foundations ;lr:! laid which would rc.
/ fleet rrr,!i. urom lc s;!air. and he in every WAY
worthy of her Liyny. Si:'ce HAT lime, hrwrv-
er, have cause 10 aHi"rizc Il radical chamge CT
my opinion uppn THIS subject.
Suon after the adjournment Of the Le@lHl:-
! turc, the basement "t the north wing wils So
far completed as to warrant an order from me
for the removal ni all HE papers hr!ongin.. /"
the officers Of the sr%eri departments OF the
State Government inio the m"w apartments
erected for the, is At porion Of til" bliliin5.
| deemed t!l' 81, +? '.rces*ary for tie protection
of Tie records Il, ;.:cycs from danger Of lire
aid o,hc. destructive causes daring The removal