Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1861-03-27
The way Banks evade the Usury Laws


etiectual for evading the usury laws that
1t Is not probable that they would give
one cent to have these laws repealed -
When the market rate of interest ia Ia
per cent year, the plan is for a mer-
chant to get notes discounted at 7 per
cent fordouble the amount of money that
ha r-o.,I~. ,I.". none 20 be carried TO ms
credit, on condition that he is to draw
out but falf Of it thIs if he gets SIS, 900
from the bank he pays interest on Sl0,,
900.
The way the bank manages to have its
customers leave portion of the money
carried to their credit, is this. Several
merchants offer notes at the bank for
discount, and when they call to know
whether the directors have decided to
take the notes and pay the money for
them (aiter taking OUT the interest one
merchant finds that his paper has been
discounted, while the offerings of anoth-
er have been declined The unsuccessful
applicant calls on the cashier and asks
him -
Mr., Chandler, why was not my paper
done to-day were not the names satisfac-
tory ?"
The cashier replies, "The directors
found no fault with The names, Mr..
Smith, but we had applications for al Of
our funds from firms whose accounts
were better than yours, and we felt bound
to give them the preference"
BY the accounts being better - is
meant that these firms have larger sums
to The credit Of their accounts, on which
they are paying interest, but which they
have left with the bank TO be loaned
to somebody else, thus enabling the bank
TO get doable interest on its funds.
Most merchants living in cities, expect,
when they hire money, to pay the market
rate Of interest. but the obstruction of
the usury LAWS work serious inconye>
nience to borrowers, especially when
dealing with banks, as they can use only
a portion of their receivables, having to
leave portion with the banks merely for
the purpose of evading the usury laws.
We never knew usury law in any
community which was not system IticalIy
ard generally evadcd and the inconve-
nence and expense of the ,evasions always
fall upon the borrower Scientific Amer.
MEMORY or THE ELErHANT.- A female
elephant, belonging to n gentleman at
Calcutta, who was ordered from the up
per country to Chittagong, on the route
thither, broke loose from her keeper, apd
making her way to the woods, was lost
The keeper made every excuse to yindi-
cate himself, which the master Of tho an
imal would not lister to. but branded the
man with care,essness, or something
worse for twas instantly supposed that
he sold the elephant He was tried for
it, and condemned to work on the road
for life, and his wife and children were
sold for slaves, About twelve years af,
terwards, TINS man, who was known TO be
well acquainted with breaking elephants,
was sent into the country with a party TO
assist in catching wild ones. They came
upon herd, and this man fancied he saw
among the group his long lost elephant'
for which ne had been condemned He
resolved to approach it--ncr could the
strongest remonstrances of the party dis.
suade him fom the attempt Having
reached the animal, he spoke 10 her, wheu
she Immediately recognized his voice ;sht
waved her trunk in the air, as a token o.
sautation, and spontaneously laid down
and allowed him to mount her neck
She afterwari assisted in taking other ell
ephants, and decoyed three young ones
to which she had given birth in her alb
sence. The keeper returned, and the
singular circumstances attending the re-
covery bein told he regained his charac-
te': and, as recmompense for his nm
meriled sufierings, had pension settled
on him for life This elephant was after
ward in possession OF Warren Hastings
when Governor General of Hindostan.- go
Populr Natural History.
CREATING GoNG 0N.--Some years ago 9
game Of poker was being played in this
place. Jim C was in il, ana duriny
the game contrived to steal the four aces
and lay them on his knee, to be played
at the proper time. The player who sat
next to him saw the move, and slipped
tn aces from their hiding place, putting
four other cards in their stead. Wher
Jim's turn came to deal, he called on al
hands to go it blind. "Ill 60 over all o.
you" When all were in deep enough tC
suit him, he reached for his aces, anc
I,,vybt nm cnp,atbip1 alca Throwin,