Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1855-11-30
The Usury ws,

The Usury Laws
Gov. Winston, in his message to tie Legs
la,nre of Alabama. advocates the repebl of the
laws against usury, in Ahe iaost cmphat c terms;
indeed his remarks present the whole argument
.in nut shelf" and are concise md clear
that we copy them IN fall:
The statutes on the subject of usurf J, in on
liphtened commercial communities, have, nj late
years, been much cnnvasscd aud. TO my mind
the conclusion has been established TINT the
,fort IL reguatc,hy penal lnws.the elns OF CAPT
tal or the prce of any other marketable aommod-
ity, not only defeats its inject, hut oiien be-
comes instrumental in promoting the evil propos-
ed to be avoided. In every community supposed
In be capable If self government. and among II
people competent Of taking eare of The m-eves
Ms the people Of these States are believed to be-
every man should be- left 10 make his own bar-
.ains for money a III any other business trans
action. II is we'll established fact that many
persons grow rich by the uSurious hire al capital
those engaged in that business Of suli
Gent sagacity to avid generally the per'al ties of
the law. BY usury laws many eonsci.nii ons men
are prevented from using their surplus ne,ns IN
TINT way 80 they driven from the ooney
market and the field il l,ft clear To ihos who
consider they have right to obtain W hatever
premium others may choose to give for th" uso
ef money. Thus a fair competition is prevented
Those engaged in the business. charge the hon
est borrower for the risk they take in loanlnIy to
those sgho lnay not do ghe proprety of any
statute may be vel. questioned fer which uan
may be considered disgraeed for pleading II IN
bar of payment Of IA debt, as is generally the asr
in debts of this character. The law is re ic of
barbarism. md only legal subtelfuge for rel,u-
daton, aud increases the rate of interest. i'm t. I'D
af lesscniug it. | MN fully aware Of the diff al
8 ,h,t; a, Hg,.. e
advancing opinions difficult urd requiring H.
a labor to come to correct coacla-io but |
venture to subWit the question To the intellig, CO
and good sense of the lrgi-nturcahd tothc &c II ~
try, rs one really calculated 10 benefit the who 10
community, particularly the borrowers"
We have repeatedly urged, through these col
unns, these and similar views. The Legislat urc
now about to assemble will have to deal it'll
questions Of finance. They should embrace thnt
of usury within the scope of their action. We
believe the public is fully prepared for al
of the old theory that obtained on this subj ct-
Money above all things should be left free to ii nd
its proper level. Any attempt by law TO raise or
depress lis value is against reason and public
policy.
Mr.. BUCHANAN addressed the folio wing CT ri
10 the editors of the London Times, in correction
of certain allegations contained in That paper,
1t was not Published:
"The American minister presents his compli
ments to the editors of the Tines. md assure
them that they have been mSiniorndd' with 70
spect Ia the expressions and c"nduct nttrbutet
to him in their leading article Of th, morning
Always mindful of the neutrality Of his govern.
ment, which he fully approves it with deep
regret he learned. rs he first did from Washing
fnn thnf utf Ttl tho hit.
States to recruit soldiers for the British army;
because he felt confident that these attempts
would tend to weaken the friendly relations be-
tween the two countries, which it has been his
ardent desire. ever since his arrival in England.
to cherish and promote.
1.-The Americsn minister can, of course,
ter into no discussion in the public journals of
questions between the two governments. or
state what is what is not contained in my
correspondence which may have arisen out OF
these questions but he has felt it due both to
the Times and himsef.te make this prompt &C T.
rection.
$50 IGAMDLEy STREET, London, Nov. l, 1876 -
The Washington Union having recently Ia ken
notice of the new telegraph company forrnee in
the North, and which will introduce into the
instrument invented by Mr.. Hughes, that en-
cradle fossil Amos Randall. Esq, President of
the Southern Telegraph Company, has addressed
a note to the Union, in the course of which he
says:
1T is also true That this company have purchos-
ed the patent right of instrument invented
BY Mr.. Hughes, 20 which miraculous powers are
attributed, ! know enough of this instrument
to be sat SIZED that it is very ingenious piece of
mechanism. and enough to gnow that it will new
er supprsede Prof. Morse's simple, and, because
it is simple. most beautiful invention
Mr. FILLMORE. people of Bardstown'
Ky, have
Resolved that Willard Filimo .. 1.-The Mode
President" is our choice for the Chief Maglstr a
| CIV of the United States in 1856, and that we pre-
sent mis- name to the American people for 'ha
! high Office "as one whom we best love, most al
mire. ana deem fittest for the general needs
confident that his election would be hailed wit
qualification and delight by the true men "f a
! parties. who love the Union, the C"nstifnt" an
its compr,mis and in eve ry section of tho coun
! try wherever our banner waves and our drum
beat is heard. He has sight lied his career by
stern devotion to the best int rests o. the iaiioi
knowing and recognizing Geographical line
| -"no North. no South no East. no West-hi
public virtue and large nationality tried by eve
ry test yet keeping step to the iI'u.ic OF III
Union," regardless of the cries AID oiamors {
the Aholitionists aud Nullifers fea rh G nelthe
aud abhorng both, and trusting To the uitina'
judgment and approval of free and en- ightene
peoples
Here is another paragraph for the IA pa 'lica'