The Jeffersonian Democrat. [volume] (Chardon, Ohio) 1854-1865, 1859-02-18
Fer the Jefiersoninn Democrat.
The Interest Question.


making aud repeating their own laws. This,
of course, furnishes business for Legislators
and enables them to hold long sessions. !
think wo have much legislation, and vast
many laws which arc worse thon useless
We need less law making, and less taxation.
Popular Sovereignty" or self government,
as far as possible is best. The State Gov
ernmeut should do very little more than
protect all in the enjoyment of their natural
rights All persons should bo loft free to
think, to act, and to pursue their own hap
pinoss, in accordance with their own reason
and conscience, and do just as they please,
provided they do not invade the rights of
each other. If Government has q right 10
in'crpose or Interfere in any case, with con-
tracts which concern only tho parties max
ing them, then it may intorforo with all
contracts, and assume tho supervision and
control Of all our commercial business. It
is contended that, as Government fixes the
VaIuo Of money, it ought also to establish
tho rate Of Interest. Here tho premises arc
false. Government does not, and cannot
fix the value of money, or of any thing else.
No Legislation could make ono cent as val
liable as one dollar. As copper cent can
be produced from tho mines with loss labor
than tho silver dollar, it will bo worth less
in spite of Government. 1t ia the amount
of labor required to produce any kind of
property combined with tho relation of de-
mand and supply, which fxos its real value.
Government can only fix tho denomination
al or relative value of money. 1t establishes
the relative yaluo of denominations and
coins, as near as may DO, according to the
labor expended in their production. If the
gold oaglo cost ten times tho labor that n
silver dollar does, then tho proportonatc
relative value of these coins is as it should
bo, otherwise not. But tho roal value OF
money fuctuates with all the ceasoless
changes in commercial operations. A dollar
at ono time or place, may be worth twice as
much as at any other time or place. A dol.
lar may buy twice as much at ono time as at
another. Demand and supply always modify
and regulate tho ever changing valuo OF
money and all other property. Now since
government cannot fix tho real value OF
morey, how can it fix tho value of its use
1t cannot DO It. Interest is simply paymon
for tho use of money. Bat tho real value
of this uso varies infinitely at oil times and
everywhere. Tho use may bo worth twenty
per cent. to ono man, and not one per cent
man depends on what no can do with 1t
How proposterous then, for government t
attempt to make thing uniform and inya
, rnbIe, which never is, and never can b,
, uniform and invariablc. Just as well nigh
it establish the uniform prico of oxen, horses
, COWS, grain, calicoes, silks, lnces, and every
t thing else. Just as well establish the pric
of wages of mon, women, boys, and girls, b.
. tho day or tho month. If let tbousan'
, dollars to my ncighbor for one year, th
. Government says l shall havo only sixt,
, dollars for tho uso Of it but I may buy
farm, or house, with the same money, an'
r may have whatever any body will agree t.
pay. What makes the difference thinl
0 it would take moro sense than any Of on
4 Solons possess to cipher it out, Govern
+ mcnt may say tho lender shall have only 8
f much for tho use of his money but It canno
o compel hin,Jo lend it at that price 1t mus
). take two to make a bargain. Guyornmen
= cannot compel mon to sell their money 0
:, its fixed price. If Ifgovernmcnt will not POI
s nit mo to agroe to pay what a mans none
o is worth to him, and bind mo to my contrac
@ then no wonld not lond mo his money!
o Suppose A. comes to B. and says, " wan
J, YOU to sell mo tho use of ono hundred do
o lars for year," says B. " | have the mono.
:, but government has attempted to make m
T. part of tho bargain, and decrood that l sha
II tako only so much for its use, and it woul
o 10 worth twice that TO mo, SO you cannc
/, have Ill" but says A., "Nevcr mind, sir,
y will pay you what it would bo worth to you
W "Ah - saws B., show do know that III
& law save you shall not DO bound to pay it
If you agreo to, therefore, you cannot DO a.
- commodated." So it seems, by this prepo
l. ferrous attempt to do what cannot DO don
Y, tho government is tempting mon TO viola
J. thoir pledges and contracts. Tho law eI
d ceuraging 'trcachery and fraud This r
% minds mo of tho absurd and dGmoraizr
r law, which permits interested parties
10 swear in their own case. / consider this
10 legislation to tompt and encourage pe'jur
if Such laws combined with other causes, ,mi
at account for tho fact, that crimes incrca
Up with startling forco all around us. This,
hs part, may DO tho reason tho people OF Il
3, nation have become distinguished for knav
is ry and vil!any, so that an honest specim
of the genus homo is rarity Knavcry &
do general rule aud honesty tho exception.
'r, corrupt and infernaizcd have become &
he masses, that they hold as property, throri
'o' tho instrumontality of government MAJ
he and sustained by themselves about four IN
lions of mon, women, and children, know
to have been stolen, tor the qualification
o. their diabolical passions, and he!lsh cupidit
-, Since, therefore, tho nation has become
~ piratical nation of thieves, wo may expo
Il the moral heavens to darkeu, and crimes
I. Increase, till Church and State have fill