The Jeffersonian Democrat. [volume] (Chardon, Ohio) 1854-1865, 1859-02-18

OF the tax duplicate ot tue different counties
of tho State, figures will testify, that tho
richness aud productvencss of tho soil arc
best developed, whore that soil is owned By
tho many. That in counties in this State,
where land is divided into sEall farms, and
each man living upon his own land cul;ivates
with his own hands his own soil, this devel-
opment is most perfect. That other things
being equal, like location, like soil aud like
climate, tho tax duplicate whero tho land is
thus distributed, shows much greater wealth,
than whero there are largo farms owned by
few individuals. and the majority of the
population are tenants. In fact, so true is
this principle, that counties of much greater
natural advantages, ARC outstripped by those
inferior in extent aud productiYcuess.
1t is admitted by ali, experience shows,
and ono undertaking it, will soon bo satisfied
Of tho truth tina; ordinary farming will not
pay at eight and ten per cent. Individuals
knowing this to be so, aud having valuable
and productive farms, sell out and removing
into our towns aud villages, become mon ey
lenders, and note shavers; others borrow of
thom, aud purchase farms, or what is tho
same thing, purchase land, making advance
payments, aud giving thoir notes for the
balance, with interest at ten per cent, secur.
cd by mortgage upon the premises, and ire-
quently 1t the individual have other estate,
tho security goes upon that also. The
money loanor knowing what the result must
DO, and OF course sooking his own interest
in tho matter. This being greater interest
than tho business of agriculture will afford
tho land must inevitably go into the hands
OF tho original holder, or of some other per-
son who like him has the money to pay for
1t. This process continued, certainly tends
to bring about tho condition Of things spoken
of above. Tho same will Le the effect upon
the manufacturing and mechanical interests.
II money DO loaned to carry on any business
aud u higher rate charged on It than tho
business will warrant, loss and ruin must be
tue result. Money if loaned .or business,
should DO at ratio men can afford TO pay in
that business, olsc labor is lost to tho amount
tho rate paid exceeds what the business will
afford. SO long as higher rate OF interest
is paid than what the business in which the
capital borrowed is employed will afford, so
long, and to the same extent is tho tendency
TO bring wealth into tho hands OF and vest
ownership of property in tho few, thus him
d,rng the wealth and material development
of tho State. Capitol and labor together,
each in its own sphere, will accomplish all
that is necessary Tor the interest of our State,
but ono should not DO 50 used as to cripple
tho other Tho truo principle is that capt.
| tai should employ labor, not DO loaned to it.
Capital invested in land should employ labor
in the working OF tho owner upon that land
| Capitol invested by tho ownor in manutac.
turing, mechanical and morchantilc pursuits
should employ labor in these pursuits
| When capital is by tho owner invested i'll
such pursuits, rather than loaned TO them,
may VIC hope to SEQ true and abundant pros
pcrity prevail.
great reason, urged originally for tho
passage OF tho ton pcr cont. law, was TO in
duce lorogn capital to como into tho State,
for Investment. And if We repeal this law
We arc told this capital will be withdrawn.
Undoubtedly, in consequence of this law
some capital did como into our State, but
most frequently was it brought in by private
Bankers, as was told by QUO engaged in
this business, within n short time, borrowed
| by them at six or seven per cent. TO reloau
ut ten per cent. Whatever foreign capital
wo have Mt ten Tur cent. protected by our
laws, whilc paying US no taxes, the sooner
we arc rid of, the better. AS just SO long
as we poorer in proportion as the amount
paid is moro than can ho afforded. ?
| MIR. Spoakcr-Sceing that money is the
creature OF government, receiving from il
it's vitality, and Importance, made by il the
standard of value, and the only legal tender
in payment of debts; believing that as moncy
! is the creature of government, it is the right
and duty of that government so to regulate
il as that il shall bo uniform standard of
value; that high rates of interest tend to
hinder tho material growth and wealth of
tho State-to ronder antagonstic capital
and labor, crushing out tho latter by the
former, and ultimately result disaslrously to
all, and that if any rate of interest be fixed,
it should be uniform one, and such us OK
pericnco shows business will afford, l shall
vote for tho indefinite postponemont of the
bill known as Collins Free Trade" Bill
against the amendment allowing parties tC
contract for eight per cont, and must cor
daily support tho bill repeating the "tcr
per cent. law.