Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1855-03-15
Gbe @lasgoD Gimes.
r E M. A R X S
OF THE

Hon. 10 Davis, of Howard County,
On The Bill 10 re-enoct The fen per cent. In
teresf Ldw Of l845, delivered IN the House
Of Representatives., 18Th February, 1855.
The Senate Bill, re-enacting the ten per
cent interest law being under consideration,
Mr.. DAVIS rose and said:
Mr.. SPEAKER: On last evening the Chair
having announced that was entitled TO the
floor on my motion to lay the BILL together
with the amendments, upon the table l gave
way 10 a motion to adjourn, and when the
regular order was again res'.med this morn
ing, ain promptly met by the gentleman
from St. Louis, Mr.. Goode) in the same
proscriptive spirit which he manifested on
yesterday, towards my colleague, when al
tempting TO explain his vote upon an amend
ment offered 10 the bill. The cries of "a
point Of ORDER" and II rise TO point Of or
der" salute our ears again.
Mr.. SPEAKER: approach this question
with great difidence, arising from two cau-
ses: First, because of its magnitude in
comparison with any and all other subjects
which have or are likely 10 receive the at
tention OF the General Assembly at this
session: and secondly, because of my ina
biIity to present the right side of the ques-
ton in manner as favorable as il deserves.
The proposition is TO increase the present
rate of interest, at the rate Of sixty.sIx and
two-third cents upon that now allowed by
law, and that, too, at one single stride Of
public policy-when every commodity made
and for sale by the farmer, is bearing an in
fated market value-whicn itself has and
always will induce the tillers Of the soil 10
invest more capital in agriculture, and thus
debts have been contracted in good faith,
with the fair and reasonable expectation,
that even should the foreign demand pag-
italy cease FOR the surplus products Of our
farms-the farmer could yet pay these debts
without much sacrifice. But when the in.
terest on these debts is increased by one
measure, at the rate of two-thrds in amount
upon that already existing, is that not bad
faith towards the debtor, and stroke of
policy highly injurious to the vital interests
of the people?
The recent prosperity of our people has
caused a forgetfulness here of the duty of
the lawmaking power in the government.
A few days ago we found paper printed
and laid upon our desks, purporting 10 be
the report of committee cf this House, in
which the doctrine is espoused, that man
may as well hire out 800 in money, at a
dollar per day, as he may hire out the horse
nt dollar per day, for which, after sale of
the horse, he received the $l00, and this
doctrine is called the progress of the age.
Sir, history and experience teach that hui
man nature is about the same in all ages of
the world. The same reasons why gov
eminent should regulate the value of the
loan and use OF money, that existed in the
days of those people whose history is writ
ten in the Bible, from Genesis 10 Revea-
tons, exists now in every government, TO
protect The poor, the weak, and the unror-
tunate from the mercless cupidity of the
rich, the powerful and the strong; and with
how much increased force and beauty does
this rule apply to our institutions. The
ground works Of which profess justice,
equality, liberty, freedom from want-no
oppression. It's at variance with the spi,-
it and genius of republicanism, TO encourage
policy which makes one man pauper or
a hireling slave, while another becomes
rabob or prince in point of wealth.
Hence at one period in the Republic of
Rome no man was allowed TO own more
than five hundred acres of land; for the
obvious reason that no one man should he
permitted 10 amass and assume 10 himself
too many Of the possessions of the world, to
the exclusion Of others, his equals.
Missouri wants no paupers--she wants
no dependents desires that all her cit
izens shall possess a competence, that no
freeman shall come under terms TO his rich
neighbor, in order that from his bountlul
store he may be pleased to supply him and
his family with bread to appease the crav-
ings of nature.
We have heard much said in this Debate
about men being left free to make their own
contracts, and do as they please. Sir, how
free is that man, even on election day, when
he is called upon TO exercise the most sa-
cred right of freeman, whose eighty or
forty acres of land, including his humble
cabin is under mortgage or deed of trust TO
his rich neighbor for the loan of few hun
dred dollars, and at a usury of temper cent.
per annum.
Why is it that men should be left free in
,ho loan anA mao of vnopay uhan in ", anx,