Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1858-10-14
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:. An American paper having hintsd M the
European creditors of Mexico ,nsay - tsuated
q. a'arsr'' the London ri'nss ssnnsss - fss
If the current Of thought in New York Rms Ia
the direction Of what Is called uudfy nay " Ut
any time set up o. bar TO ths fdl6fInsent tf ccA.
tracts. or even asa reason for treating thea with
udegree OF unconcern. it ia certain thsrs b hard
ly apublic or private engagement in thst country
which may not be at any time upsst. Il usurv
to be pleaded In caaes whore a governusAs of 1
company hnve deliberately borrowed Ia whs
they considered to be the cheapest market, bu.
upon terms above tho nominal rate Of interest
or is il to apply whore the debt has boon
contracted at price below paf--or IN both m.
STANCES indiscriminately, well - in any ,e4her
where tho torms may not in after days appear
debtor, ~
1fso. thcre In scarcely State Stock or Raffwsy
or Canal bond in the United SeAees which may
not bc DISPOSED Of in this manner, and eheac lof
ourcapitalists, who, untouched by pest ezpegienco
may be disposed tn listen during The coming sbun-
dance Of money to tempting Invitations ff0m that
side had bottcr be warned At one. Possibly h will
bo urged that the charge If usury 10 inteudedss n
bo levclled In cases where tho amount Of inSeyost
contracted TO bc paid was enormous In cosnpaH-
son with tho sum borrowed. But whore % The
line to be drawnY Ii not the fast, In Any eivs0
instance that the borrower found hs could hot ~
the money anywhere else on conditions that seesn.
cd to suit him better the heat and only tSss y 10
the fairness! fany other principle we're 10 b rs-
cognized the greater part Of tho NAti0nAl Dsbt Of
England might he repniiatcd. since maNy loans
were made Mt GO or 10. upon the stipulation Of re-
paying 100. The moment the usufy deottiAs 10
broarhcd and tolerated there 10 an cod 70 all
safety in entering into engagements sinos, plAin-
ly stated, it simply amounts To declaration, tiut
voluntary promise ~ not TO be held saofsd under
all circumstances. and that a man who, In uesdy
plight and had credit. has snbmitted 70 the n&kee
terms neee-sitateh by his condition, nay stauy
time. II fortune should prosper, plead that 10
ought never to have been helped In such . man.
ner and that he refuses to recognise the tsAnSAe-
tion. III aeas
Tho argument must amply universally land
neither men nations will evor be scrupulous
against making improvident bafgaias, except
where II is held mn invioable prcOept that no
circumstances connected with ap,sdgs spoata-
neousy entered into ever in the smallest de-
gree absolve tho contractor from hs ulhllment on
tho exact basis in which ii was understood by
both parties ut tho time. An ndorser Of bills
among certain reckless class will sometimes say
"Oh. ] merely gave my name to obligs nsiend
and did not get anything by it," ~ if his motive
in the matter should be Of any concern to- tlas
claimant. Whatever it was he deemed u taItke
cient at the time; and after he hes suluysd his
qualification. whether that couaistsd In ohlietng
friend or in the receipt Of cash, Asunss paJ ths
price, and neither whine for commisssstAeu moe
expect II. With regard 10 ths Asxiean' dcbt.
however, there is not plea suoh. ~ tpsssons
even OF this easy description could thiuk Of
resorting To- The money was lsnt when ths Rs-
public had tho sympathy Of the world, and ppou
terms which, Looking at the sacriRcss since made
by the bondhoders, are now absolutely much fess
onerotls than would bc demanded from any nsyt.
rate State. !.1oo,' .t safni3 haaea9di q
II the cry. therefore, is " ba cot up in that in
stance, what may We not expect IN othersf The
most active promoters of the absorption of Mexico
by the United States, including General Houston.
have not vsntured Oh such course. >. . They hsSo
stated broadly in Congress and elsewhere that in
case Of establishing protectorate, America would
DO bound to that the assignments made 10 tho
foreign creditors were honestly adminiGlefed,
while if annexation were resolved upon. the has-
sumption Of Liability for thefuu amount must,fak
low rs matter Of course. But Gen. IIoustop's OBJ
ject may have been simply to assist tho acquistion
Of the territory by denrccnting Enfopsnn objcc-i
tons. At all events his views upon 6saneial
policy would be nothing against the 'decision
of the city that is practically tho metropolis, Of
the Union. II is in New York that the symp-
toms must be watched; and tho question viii
form IN excellent test. by which distant and ldiss
interested observers may judge Of the progress o.
otherwise Of rigid opinions throughout The entire
country. -