New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1854-12-01

ago, and other papers did the same. If, thers
fore, it adds, we judge of things by the effe.
Of such advocacy, We must conclude that Ii
money power is more potent than the power
the press.
We do not think the sequitur necessar
one. Reforms arc slow things, and requi1
time for their accomplishment. The more in
portant they are, the more difficult they arc
be brought about. When first suggested the
do not seem practicable, nor perhaps desirable
and must be discussed and agitated before the
can be adopted. Parliamentary Reform, th
Test and Corporation Acts, the Roman Catholi
Disabilities bill, Free Trade and the Abolitio,
Of the Corn Laws in England, were all Of then
great reforms, and it took years Of intelligen
exertion On the part Of the press, and Of indi
yiduals, " secure their triumph 1t il 50 will
tho abolition Of the usnry laws The Intel
4 ligencer did not commence tile crusade II VA
begun BY the political economists Of Grea
Britain in the last century, and has been KEEP
mp INCREASINGLY ever since We ara just begin
ming to see the result. The British Govern
ment has not gone 50 far as it was hoped tina
tt would; but it has taken steps to emancipat,
money, as an article of commerce, from thos,
partial and pernicious laws which have, bither
TO, hindered its availability BY the ATTEMPT Il
limit artifcially the premium charged for III
use. The money power in England, create,
than it ID in this country, was not sufficient /,
withstand the power Of the press, backed--as Ii
always must be in order to be successfully
truth, intelligence and perseverance.
Perhaps the Intelligencer may see sometime
Of the fruits of its advocacy of this same ones
ton in the general movement that is now TAXING
place throughout the whole country II ;nitia.
ted the measure and has lived to sea its on;n.
ions become popular. Why should 1t conclude
that The money power Is more potent than tba
power of the press In fact, the reverse II true
The money power has been enlightened ~ n !
press and turned completely around ecom;n,
the warmest advocate Of a measure it once 80
bitterly opposed In Philadelphia, the Board
of Trade, some time since. drafted q yery oogent
memorial to the State Legislature In New
York, similar course has been pursued, and a
bill has been PREF AIRED by the Chamber Of Cam.
merce, to be submitted at the next session of
the Legislature. In Baltimore, also. tia Roara
ofTrade have adopted the following resolutions
Rcsoud, That in the Judgment of this Board AM l;
lation enactng penalties, other than merev ron;
or enang o. borrowing money at higher rate Of inte
rest than SIX per cent Per annum is calculated h in
the business OF our State it would tend 10 dIys
out Of the State of Maryland to other States wbsra
more enlightened policy permits It's free ep,nlosn,a
without any such onerous restrictions A'ehs
Resolved That it is the unanimous opinion of tb;s
tnat IL IL more TO the advantage of the 6ouer thar
lender except in book accounts or In The absa tns
special as tho ingress Of foreign cansl tb
n a. r YOU'D Necessarily exercise
money here, with neighborng markets 800 =
With regard 70 the movement in Pennsylvania /
the Philadelphia Ledger says:
~ is probable that application to the Leesatrr
t tpr Inc repeal e ne uny avs will be again made
for the continuance Of such lawv 80 -sason
The New York North American, speaking in
advocacy Of the same measure, has long and I
ably written article which embodes almost
every thing that need be said on the subiect
W make no excuse for transferring large por-
ton Of it to our columns.
When a law has ceased to "a operat;va X .
universal and habnal violation Of III thare Il t
ne sense ~ allowing II to remain on the statute boah
q snas ssts against usy precisely ii tic
category ihdicAted They more regarded ~ fhns
VINO have occasion to ignore them than II tsv bad
They are utterly powerlesa 70 effect tn ~
ect fof which they devised and passed INA 49,
lhey are virtually nuifed by the common Tsoa see
Dis.y tney ought undoubtedly to be formally repealed
.,sr oss uemeasa.ng to accustom community to
ne practice may even be limited TO a sncje ana 49,
e mpoltlc statute. yet It tends to under
hns that sort Of conscientious LOYALTY Of the
Nnich T. the best security of tho civil power and
PRACTICAL respect They totally unsound n nri;s
my undertake to give Government control nver = ea
NV WHICH can not justly be subjected e
@ ns u Money is saleabe cotnmoatv
VIZ who dcal IN y have right to determine acaordng
II @ 9wn ths terms which they viii e
barter saysabe nctuatss in WIKI A.
avs anu snppy Inc man who has 1t to lend viii
crest and he should be allowed to charae that 90 ,
sns arme raises or lowers the price his grain with
trs n. q custom This Is fixed, natural law
ss g counsefact rs operation 1t would be serious b
Wy On winch all the transactions Of trade tnr II 70
Ioporon 81 ito free circulation s checked ara tho q
ons that this effect will inevitably take nisce ~
le state ptetends to asx money 4 spaeif NJ @
" between lender and borrower where tie
vi s'ahdsr1 is lower than the Immediate act,s yortr
specie pr ia equivalent the law viii ba exposed ~ nj
= ulsaclon Or the currency Of community viii he
rom one OF tbs most important and indnans ~
nses y subserses in It's relation to the bnsna h;
ana enterprises of society That immense an,oput
speculation and industry aud commerce which d,s at
tho loan Of capital by him Who can ~ I
= oenenelally use ~ would be DESTROYED were r;iS
~ 81 Hufy oeeyed and wealth. instead Of being al
engaged IN thousand forms for fbe sow VIZ
~ advantage Of the world be hid AWAY In M sal
", TX coMers or locked mp ii Inert investments - a
y operation q these laws while entirely failing tn a
y tneir reai design IL emnently preiudcial ess;das
osu moral influence exertaa by TIE common M Re-
Y sneir they acualy aggrara tie Ina
tnsy we're Intended 20 prevent They ronane IN AM
o'esionai dealing 10 money to much smaller nnmhar -
m saa Wouid otherwise engage 1.-THE amount
nuy n the market for loan Is proportionahlv re- tho
the rates Of interest correspondinrly the
= made thus luxurious while ths
,titious s a.. 5ennunlty = seriously embarrassed by
ars T. a $500 Oh available resources Then aes,n
800 NJ y the ordinary risk Of a loan at Al, iegsi
the law ana TIA o. detection In the violation ing