Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1855-03-15

large portion Of the population OF the ex-
treme west. But sir, let any number of the
farmers of the interior, state the account
for themselves-see what is the whole val.
Tie Of the aggregate amount invested by
each in his farming operations-tnke into
the account the land with the improvements
upon 1t, the price Of labor employed in each
year, the value Of all animals, farming tools
and implements necessary to the operations
ofthe farm, and he WILL to his nstonishment
discover after he has disposed Of his pro-
duct Of the farm for the current year, he has
not realized a profit from his farming in
vestment Of three per cent upon his capital
And these facts are true as regards the ma
jority Of Missouri farmers, both in numbers
and amount, even in the recent times OF pros
perity and high prices.
Sir, six per cent per annum, interest for
the use of money is large conces sion now,
in Missouri by the tiller of the soil, and in
favor Of the commercial classes. And |
call upon the friends Of agriculture here; to
recur 10 the numberless instances, all through
the country, of the sacrifices of small farms
10 The oppressive usurer under the former
operations oi the ten per cent law. And I
assert that an interest law, which would tol-
: crate ten per cent interest in Missouri,
would be an enormous uSury, considered in
contrast with the Legitimate pursuits OF the
laborer.
+, Mr.. SPEAKER, the gentleman from CLAW
favored lis with speech in favor of the en-
aclment Of the ten per cent law. He gave
lis the benefits Of a twenty-five years expe-
. rience in upper Missouri, in which in his
professional practice, he had never filed a
plea of usury. That in numberle.s instnn-
ces all around him, the law was broken now
tile money lenders there did not think Of
leaning at as low Il rate as six per cent. and
therefore the law ought 10 be repealed.
Sir, there is the kind cfargument used on
this floor for the measure, ard agains. six
/. per cent; but sir, l plant myself upon the
broad platform, that every citizen is honest
and will do his duty, embrace that impl.
cation that goes along with all men, as well
, in the private walks of life as in every de-
partner, If the government; that every cit
izen is loyai to :he public laws, and wilI
obey them, and without that the government
itself could not last year
The gentleman has, in his remarks, refer
red 10 the citizens Of Howard cuu,,v, he
has taken the liberty Of perretrnting one Of
those innocent ISLANDERS, which carries with
it unmerited praise. He Las called ,hem
wealthy. This they have provoked by for
warding to their Representatives on this
floor, instructions 10 oppose any charge in
the interest law. While the Representatives
from Howard derry that any such pre,en-
sion, as that referred to by The gentleman,
has been set up here. They do claim for
their constituents as much patro ic devotion
TO the State, and as much intelligence as the
constituency Of any gentleman on this floor.
They are not wealthy; they only desire reus
enable supplies.
An argument, prejudicial to Howard coun-
ty, has been attempted here, from the fact
that Branch of the State Bank Of Missouri,
is located there. This argument is also fal-
: Observation-Disclosures 10 the annual operations
OF the Branch Bank will show that the far
mers are not the patrons of the Bank. The
Bank accommodations are to the men and
houses who are engaged in commerce and
trade. Did understand the gentleman from
Clay 10 say that his constituents could be.
come rich by looning money at 10 per cent?
Mr.. DONIPHAN rose and said, he had
been misunderstood by the gentleman from
Howard; taking his seat, rose again, stating
that what he did say, was, that the citizens
Of Clay county could become wealthy, i. the
law allowed them 10 loan their money at 10
per cent and prohibit the neighboring coun-
ties of Jackson, Platte and Ray, from loan
ing at more than six per cent.
Mr.. SPEAKER, there is on admission. and
from one Of the most favorable parts of the
State, that loaning mony at 10 per cent is
better investment than the cultivation Of the
soil-and who is here that does not recol-
lect the appearance of the usurer's farm at
the time OF the repeal of the 10 per cent
law; the wLyle aspect of the farm wore he
appearance Of neglect, OF decay, of disuse,
Of partial abandonment; feld-fences rottins
down, pastures thrown open, the gates
broken down and pastures grown up with
under brush; the lots, ponds and out-houses
in state of dilapidalion. The law was re-
pealed, and in one year, everything about
the premises sprung into newness oflire.-
The loans were called in; the money invest
ed in Improvement of the farm. md nroSner.