The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1857-02-26

!itile understood rs ANY other branch as pod
itlcal ecooouS, whih aneses as the very
hills, thew Is w nooe regarding wh,ch there
has hxn greater diversity cf opinion O. oae
which has mon seser,,iy taxed tho minds o.
Legislators ~ al, ;imps. since thu very CON
mencancu, of law iislf. dating hacl, to the
period r,ca o. iisn I'D Jcwish di>pyiSaiiou
Nett hau an lnstiNeiiw aNcr,ina cStry.
WHERE 20 usnsiou> rates, ou shc grinmi pgin
cipail. o' she uppN'ssha,"i tbepoorr classes
OF the cnmuianity. The word usury j. en-
,in'ly arbitrary, dependant altogether upon
thu circumstances Of lhc particular play.
varying all the worhl over sn,hai what taay
b. nsarici a<Nsnry in os'c particular State
Of coan,r,, wuad bc rssanh,l in another as
nothing mop than lair rates % interest. In
England. for example. four Isr s'a, lsr
annnm, has ben established u, thu ieg1il
rate and all over that deelarsi by statute
to b. a.uriois; in France, Germany. pcii-
mark, AMI ihe other countries OF Eur,,c,
varying accoriing Ia the peculiar condition
Of each. and still mon', the peculiar notions
Of the Legislators ,hcn-af 80 in our own
country. While in one state the rate Of in
terest Is hve par cent rcr anunm only, in
another, /, "a six, anoiier, seven, another
tcn, IN another twelve And with What pro
pric,y can the state ulsicr the five per cent
| regulation, complain of the one whose laws
,dm, Of ten. or even twelve? Might moi
others under still !owsr ra;a5. with equal
Justice ard mppfiriy rompiala ~ h6rI
maxim has been long since established,
lhough no; universally admitted IL pr;'c
tee, tina, money is worth whatever il will
| legi,imatcly bring, aud that what money IS
worth in one shape Il j. worth in another.
And 50 sound docs TIL. n,le appear, and so
| obvious is il becoming 10 the minds Of bust
ness inca particularly, that everywhere al-
II y
this subject un, rccesitly England, slaid
old England, tIf moi old Fcgy. certainty uoi,
., least. Young America in her policy has
| made move IN this direction. aud has found
i NECESSARY 10 naliit la a very gnai ex-
tent, her usurl laws and this movement is
being followed up BY thu other cnn,rlea oil
Europe. Ia our own country. The maxim is
| beginning la receive more universal acccp
lance. PENNSYLVANIA, New York aud the
other principal states Of this coniSderacy,
have long since iet the shackl,4 Of this poll.
", aud many. AMI more wp'airi arr the
forts being made to throw 4 ID But II
seems reserved for thu ,oang giants 81 the
| West 10 take the initiative IN this liHc. Al
ready onc branch Of the Legislature Of Iowa
has passed. al &C, rcpaaling their sury
Laws, and il j. thought lay the pApor> there.
,ha, /, viii become q law beyond Doubt
Mnne-,,a, as ia well known. started upon
the right principle at the foundation of her
Territorial 40, eminent. AMI most asslraiiy
she has s'Sn no good reason 10 complain "s
his policy or To dream for aa instant Il u
change therein liundrsls and thousands
Of dollars have bccn pourj into her lap by
her libcrali,y upon this subject and the I'M
told bcnc,its thcrfrom ~ think. are YET 81
result
| Thr inevitable si,;ci u. Ia" stringent lave
upon the sahlnci of asury - To drive capital
into o,hr channels, While ~ thu contrary, "a
libcfai policy, mus; NJ inevitably. IN pro-
portionai' ieqrer. draw it IL Non"y is
worth. a ~ have sani. whsi.,rr il viii h.
ultimately bring, .,ni ~ b,an VIII invest li1
moncy. ,tc,,s Js,r,ips. in fSe or ly lrr an.
nam securities. wh, h. can obtain ssrniy.
OF rN,n NOR and il h. cannHt obtain tl,i. at
home. in on way rs, will 10 tJoihcg. and II
no, legi;mai,ly then ouisiAs ihs law, and
the moral cffs'' 81 -Uch a syst,m. inis1en'
dent of the financial iew Of the CASE. oil will
At onoe Perceive. |, IS maxim. to- iriie
almost. to he repeated thai the c.rt.siniy AMI
20, the -,r.ngrncy of Isws, = sbti eaasq
thfrn 10 h. "',eypi. AMI aia' !. .ls pHiicY
or wisdom ~ passing nvs winch an no'
and viii moi H. bi~y,7i Gan tay g'~'l ia
sgn h. assigned uhy money, ~ -8rn - on
.o5,h h aG.,t. az II he sisls % ,.a., ~
anything ,l-e, Il is no, prrisnded ,l'al par.
y nas ~, irqiias'oiy ohia,p Yham1cr be
can III ihf .l,,po - ru;; lof eX,ppia. ID Z. sen
twenty ihi,y. ~ ftan alrr competition
bring gpDsldsrai idir.ens 90 rsyalsir tbiag
things II "a" .,nir tir.iriPlf b. applied
to mon =, sach e,snpt,'aa aHi b" pr
tinn o. III community si!l -,4.ir' ihfF"lrom.
20 lnng ~ human nsisfe .,sniinpes ~ grasp
ing a. i has eytr i,,t. a. lour ~ Iar,fs
sii srh ths hfsi invegs,'a's sod md
abr,,sd Their mean. Il ,tr hng,- Elsssrt ,Iss
not o,I-r zi1cssrt iniu.srn-na - 4, -.
se' how %" gp,rT eis.F-' rta i' a r'''rl
isneiieialiy AZ tssi hy H-pft ss Gar
ls.iiiOa Is ,lIr is~; thin Tia, rs8 10 s-'s',
lished is III ppar-f cis-ess rri XII ~ yso
duetive n Iaogn -o1.i - th-r.. ,hsn ~ tb'
usury Laws IA tss world rlis w. esrfni o
es,atiish crriaia ii1,-i rs.' q ia'rTs<i w.s7n
tber, ar ~ rate sszr as. aisn. i~af'og o.
The Jartie@ .ssamg,r.9 20 .'i-rssi.ts 5PaD ii.'
rates hy eTrFess sInsu 70 Hr;ins i5i
ours til Coarss ar aiSsgl gP,f 3, rs's'
I ri fr,ri .,YI iyfs1sii,a.I wi roo bst a.