Daily American organ. [volume] (Washington, D.C.) 1854-1856, 1854-11-29
e Marshal Count de Rochambeau.
baltimore Correspondence.
Opinion Of Judge Tansy on the Usury Lao--The
Presidents Message--A fortunate nioce.
R.yr,vopr Nov Goth 1874

Opinion of Judge 1aasy ON the Usury Lao--The
Presidenfs Message--4 fortunate moue
BALTIMORE, Nov 29th, 1854.
The Baltimore American of this morning con-
tains, in extenso, an important decision on the
usury law, delivered few days ago in the United
States Circuit Court, by Chief Justice fancy. The
decision is on an appeal from the decision in the
case of Dill Vs. Eicott, tried before the late Judge
Glenn; and is the opinion Of the court upon the
usury law as defined and set forth by the new con
stitution of Maryland. In substance, the decision
takes the ground that if greater rate of interest
than six per cent is demanded and obtained upon
pronissory note or draft the contract is thereby
yitiated, and the holder can neither recover inter-
est nor principal at law. This decision renders void
the law of 1925, which enabled the holder of a
note, such as contemplated, to recover the principal
and legal interest," even though usurious interest
had been stipulated.
The opinion of such profound jurist as Judge
Taney, will doubtless command attention and re-
spect on any question. But, incline to the opin-
ion that this decision will have little weight or
thority in regulating the monetary transactions Of
the present day. By almost universal consent
men have come to the opinion that money, like
any article of merchandise, is to be regulated in
price according to the laws Of supply and demand
If scarce and in demand, like all other valuables, it
viii command high price; and, if plenty, or not
in demand, will fall in market value. Until we
have laws in operation to regulate the price Of food
and clothing it win be folly to attempt to regulate
the price of that which we are to give in exchange
for those articles
The nearness of the time for the opening of the
next session of Congress, has set many specializing
as to the tone and character of the forthcoming
ecutive message which, il report is true like the
communications Of the Washington letter-writers,
is to be kept open for the latest nes foreign and
domestic AS regards domestic aeaos, should sup
pose the occupant of the White House must have
had more than enough of late, unless he discredits
the newspaper reports, and is waiting for official
election returns from Massachusetts, Ohio, &c. Of
foreign news, il the President is not fully posted
up, he will soon probably have further advices on
the arrival of the steamer Africa, now fully due at
New York, with three days later intelligence.
What fortunate move it was in the Emperor
Napoleon to revoke that prohibition against our
valiant representative at the court of Spain. His
imperial highness probably forgot that President
Pierce and his flibustering ambassador had mortal
antipathy to prohibition, or he would not have
been so impolite. His second sober thought has
probably saved Paris from sharing the fate San
Juan. How fortunate!
The telegraph informs us this morning that the
terrible Know-Nothings have made their appear
ance at New Orleans in defeating regular Demo-
cratic nominee for the State Senate. Where will
those troublesome fellows get to nexts Ifthey go
on at this rate we shall hear of their invading the
White House ere longl
Having seen what unsuccessful attempts the old
parties have made to vanquish the factious intru-
ders, / have come to the conclusion that nothing
but the American party will ever be able to cir
cumvent them. ANERIcUs.