The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1866-01-16

c,mre,,ed to nav so much for IT, As ior sup
,,,s;nr that we can get II here at s'rpe' cen"
when the General governments gN'ns
,,;r,y that IL a notion 80 prerostero"S 'i'''
-. cannot see how it could ever enter the Drains
-, i, man who was in his proper senses.
r,,,ro ,re many merchants here who lost
.,,oir husiprss houses by fire, and who, IL they
o,n,d rebuild them, would he enabled 10 90 Il
business large enough to justify them in paying
bs,yy interest on the money borrowed for
that purpose. Some of these merchants had
transactions amounting TO hundreds OF thou
sands "A year. Now, where could be the SIN OF
the shame In lending these men, at high rate
Of interest, money TO rebuild their houses
The house in ruins pays nothing the no"S'
rc-established pays thousands. vi 'o"t'
each borrower will exercise II sound aise'e''o"'
lie will not pay so much interest rs u ier'"''
his situation worse than IL was before i"'.'
WHY not lot him exercise that discretion Win
regard 10 the interest he feels abie 10 pay
wsE,ow not what rate OF interest IS pro
,osed in the Legislature. We are III laNol Vi
Ia, wing that subject entirely free; nor IL our
;;>, ,eact,d in the least by the suggestion
- ,,,s, who imagine that if The rate be raiscd
!, will he impossible hereafter TO borro" ocio"
,,.ro,e To which il is raised. If the Legal rare
,o bxad at ten per cent and lenders ina thal
mo,ev can be made by taking lesser rate
,,,ra win he competitors III the market VINO
;u. rorder il possible 10 borrow below thal
.o If p,oncv cannot be made by lending
below that rate, then II Will not Ut icl'' i'"
or no law We are therefore for ahoilshihS "''
rates and letting money find lis lever Ill 'h'
market. ms all other commodities do. Ana why
not? mans money is rs much MS pi"l''l >
rs his horse. If n man have one huh"lc" "'i
lars. for which he asks ten per cent, al" c'''io
get il. he may certainly buy horse WIN II
and sell that horse again for two huhurcu ooi-
lars without mourning the risk OF beng c'iieo
n shaver, or of being robbed OF ms gains oS
the usurv law. Sethcre Is theNtrS Saiilc"s'h'
nj work in both caseS-namely, the man
ono hundred dollars. A man Will d"claiAi
against the usury law until II" Is hoaFSe'
and 90 the very same day and buy MS
ncichbors plantation at sheriff $ sale loi
fifty per cent. on its latest assessed value
Wbyis this transaction more moral than the
other We must not take above certain
tixed sum for laon,y !: but convert the money
into some other species OF property ""' 'A''
# we can clear a thousand per cent. we are
pattcd on the BACK ana calieu eA''Si
And yet il is but a money TRANSACTION ''l''i ''4
We but vary the form, without, Ill 'he sigh ;
est degree, so far rs we are able TO nhoersla"u
changing the nature of the TRANSACTIONS bo'A
have the same object in view ana 'h''' - u
get as much a possible for our money
But it is hardly worth while TO enter lhl'
the morality of the thing. The case Is exactly
this We, rs Il people, stand III great n'co OF
money 1t can be obtained from ShaFerS' rs
things now stand, alta ruinous rate OF interest,
because they dread the uSury laws, ana VIII
be paid for the risk they run. krpcal THESE
laws, and any quantity can b" Obtained al
reasonable rates, because there is no RISK 10
run except such rs mans own discretion VIII
enable him to guard against.