The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-03-27
The Uslary Laws.

MINORITY REPORT OF THE SENATE COMMITTEE
The undersigned dinghy regrets that subject Of
so much Importance as the repeal essential laca
tion OF the present usury LAYS, should have been
brought 20 the notice CT the committee a. late pc.
rod OF the session, wten the multiplicity Of engage
ments md ma,.ere OF Legislation press 20
urgently upon the time of Senator'S rendering il aim
impossible to give 1t tie investigation and scruCny
demands
And only from considerations Of official duty which
seem in this case to require adverse report in writing
% accompany favorable majority report that has
duced the undersigned to make the attempt upon a
sudden emergency and IN crude and unsatisfactory
FORM
Indeed reference to the sound and enlightened
views pregeuted by Governor Clark in his gura
sage, would appear to be all that ia necessary con
vince uDTreju ced minds OF least the proprety of
caution this new idea OF free trade in money
He Justly remarks, that If money IL to be made free
should there not be equal freedom the part of tn
who exchange their labor and the products labor for
and bank paper, why not also fix by Ia the standard
value for labor, so that capital ana labor exist
with porcr which unrestricted, enables capital TO
oppress labor, Go you not while fredericksburg cap tai
snssse labor ~ then money is to BE- relieved from
power conferred by legislation Z" This is fair state.
rsnt Of the whole proposition.
in that has conferred DO such 20 wer Don
any other thing. Tie metal OF coin may have int,n
sic value about equal TO that which has been established
FOR IT, but II h the standard given TO BY government
mailing IL what IL termed morey that gives 1. quail.
hcation different from any other kind Of property.
t.1nn or sr,ess;a an ~ .ne ,h Is .ae
the efov of some God or oadJess thai ,oaI;n nor ~
tbsv n,!sb+ ho ~ l.; u;a s ~ s;." T,, apga "a
~ .it oe puu i,s o. 'n nj % i us. s.anuara
merca batnasn ,,;,a,s =, o. sta,a 1 t =, I'LL
to-eion statas "a ,;,hn,t sonaa ~ .onra,;n-, -
conmo, mes;,r, u q aIr,os, ;noss,tis 20 en;.a a
NOV Tho &C. ersl .or,r,o,ea ~ tt,a rI ooia - $500
~ II e ~ "a "a Az. 49,. - - ~ $1,000
IN ererv iic,s NJ nronsr. anS Il a o. ~
Inc dfv and n,S nav r. rc;;on ~ en,enr, ~ ~ 40. IT.
H. ehonid he reoniatea and kent az rn,forr anS con
.istsnt rate " ~ ~ WV
MI 20 81 .oo &c -. - 49, ...ou...
has ne mncb 70 40 with astah,,shirs i,s ima 90 ~
stan,n vLich Ia ran 20 4, q, ,ba r,t IL "a
recetsarr that tbs sbouId he aSaJ ~ a., 80 ;.S
law. 81 that n imn,onar n..ra a. ny,5 ha
auy of This general measure or curyencv wbich Ia IN
TENDED for the benefit OF all
Money from the neculisr vo,ua vbio Ia o;van 70 4; NV
government ia ins,snensabe To ali ana NJ wbnni.
In IL ablt treatise on the or tba usurv a.
asserts uthst mo other article car he nomaa which u
INDISPENSABLE TO the business of every man >, oonse
emily In thi, particular money Ia totally unlike anv
Thing else n Il also unlike ali other commoditI.s In
fila that there Is no enc article that 4 made the sub
of trade which every man has apy occasion for on
Tho contrary SOLICIT one we neoe and We sbaI 6nd
that ce bnf fav nsrsons are In want ~ n
ihe yarIstv ~ lis and occnnations Ia aImost s
oreat "a he va rietv nj eommodtiss es.h man v.nts
only that In which Re deals
Fyen n,ovisons and clothro consist of preat varetv
~ L;a a aaa, -, = nar ~ ss,s.tsa .sshih al .oy
vent ana No one Ia Il, dsnsnesh,e In rase ~ scs rcjtv
~ o,a o,hers ,, no snhs,itu,sa Tai aiaarerca he
ali other commo,ties and money IL yery material
H. a. T., .s q. ~ nv 'y $3.50. y, 81, - m - H.
esiislenso,.e " 81 ne r ~ ~ .,ns
az az 80 VI ~ 1891 ~ ~, ~. az ny 49, go, s a
no,.ion ~ The s,stsm can esc,na H. contaons nam
is,v l.s b,va heer IN fore. In sne,sn, .na nod,-n
.,ss ~ 49,. III az. .i,iS So ~ az : - 80
tunes N almos' an ,ne c,Saed s'a,es Q, the woa ana
exception Of Califo a. the experiment has been tried