The independent press. (Abbeville C.H., S.C.) 1853-1860, 1855-02-23
From the CassvilIe (Ga) Standard
Repeal of the Usurv Laws.

! present CSuIy Laws. NOW we have never
had a single doubt about the correctness
and sound policy of these laws; we have al
ways looked upon them as IL shield to protect
the innocent, honest laboring classes, against
the arts, dcccptions and oppression of the
hard hearted money holders. In other
words us laws restraining the rich from grind
ing the poor.
Laws against Usury have existed in every
commercial nation since the creation of the
world. The great Jcwisl, law-givcr, Moses,
forbade the taking of unlawful interest up
ON money. The Republics of Greece, and
Rome, the wise provisions of Whose laws we
all admire, prohibited the taking of unjust
and unreasonable interest. 1t is true, for a
short time these Republican States had no
laws against Usury, but the popular de-
mands soon caused the enactment of wise
provisions, protecting the poor against the
exhorbtant exactions Of the rich.
We would respectfully ask, what class of
ourpcople demand the repeal Of the Usury
laws! Is it the middle and working class
No. 1t is movement gotten up alone by
the unfecing and avaricious wealthy men,
to enable them to take advantage of their
unfortunate ncighbors during the present
hard times, and rob them of their homes
and impoverish their families. 1t is an old
and true maxim, that the rich can protect
themselves: and it is one of the first duties
of the Government toprotcct the poor. The
repeal Of the Usury Laws would not only i'll
jurc the unfortunate, however, but would
ruino,lsly affect the laboring class general
Iy, by inducing money holders TO let out
their money OH personal security, and retard
and stop I'LL works of internal Improvement
Consequently, the demand forlaborers would
he decreased, and the wages Of this numcr-
Gus and worthy eilipss would be greatly re-
duce,l. The repeal Of these laws would pre-
vent capitalist from cmbarking in public
enterprises, 10y offering more profitable
channels for increasing their wealth, and
thus not only would all but the rich suffer,
but the general wealth and prosperity Of the
State would be SERIOUSLY affected. Now, our
numerous Railroads arc the chief resources
Of State prosperity. Repeal our Usury
laws, and our internal improvements, by
private enterprise. would suddenly stop:
!. But We acc. TOLL that England has re-
pcalcd her laws against Usury. All! Is
this reason why, you should do so9 If in
England the lords and monicd aristocrats
should repeal the last law for the protection
Of the poor, is it a proper example for our
Republican government to follow? There
the wealthy are masters, and the poor are
slaves, but here, thanks to the efforts of our
Revolutionary fathers, the dollar is not the
controlling power. This effort on the part
Of the Shylocks Of Georgia will fail and the
people will mark the man who leads himself
to effect this unjust scheme Of the money
holders. Talk about Georgia repeating the
Usury laws why it was only in 1912
that our Legislature passed n statute giving
greater force and effect to these laws.
The Usury. laws arc wise aud beneficial in
their influence. It. is useless to urge that
they deprive men Of the privilege Of giving
what per cent. they .plcase. The law does
not compel the borrower to plead Usury-it
is voIuntarythipg. If any man is willing
to give a higher rate of interest than what
is law, he incurs no penalty he is at liber
, ty to do it. But don't annul the law. Il
has been tested for ages. Wise and good
= law givers have always acknowledged it
correctness, and i'll: our humble. opinion, nc
borrower freely advocates its repeal. l
these laws ar6 repealed, money will be Dor
rowed at, enormous rates Of interest-tht
unfortunate debtor will promise any pc
cent. to prevent the sheriff from selling hi
J. property. We have all euhow men vii
) struggle to hold possession of property
Pride and every other feeling of our natur
9 will indnce men to give r,iinous rates OF in
: terest, with some faint hope Of relief, Q
J, sometimes merely to prolong! the evil day
Few men make money by paying unlawfu
a interest, and many, have been entirely rg
IS . incd in their becuniary prospects, BY th
/ unconscientious money lender. II our Usu
. ~ laws were repealed, the rich who hol
= the money, would establish theft own rat
D of Interest, property would; deprtciate y
y. value, and our prosperity as 8 State b
i greatly retarded. The capitalist would fa I
a tten and grow rich upon the wants an
n misfortune of the poor Others may do q
xtithey think best,ieebls We shall firmly an
n honestly oppose thisattetnpt Of the unscrt
i. pulons li1onied men Of the State, TO fatte
u npon the mis- fortunes of their neighbors. =
ID Pnot to- 843, the borrower was forced |
n. ftle!a hill ino Equity t6 estat tlishz Usdry y
h tie a1&wa; of .She TENDER tie great fexPen'
al pf which pro PREV yefted the pfeadiI
Ie3 of Usury 5ps ssnsl fah1ouhta and ID that ye'
" ansset was passst epsb bling :Ehs s,statdts t6&
bei plead. 10 even the email lest scaje ton
10 did tiieiedt of f84 q make the pleading mo
ilIi shnptS but ipalti defend dants ass 16b;Ho
en m palsd sog gpsy. hajpf;ncir debt sss