The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-02-06

The NORFOLK Observation-Disclosures
NIGHT WITH THE COMMITTEES OF FINANCE.
The House and Senate Committees of FL
nance held meeting last night in the
room of the Norfolk committee at the Ex-
change Hotel, and were addressed in very
clear and forcible speeches by Colonel
Lamb and Messrs. Ghiselin and Walker,
members Of the delegation. The practical
details Of the money operations Of Norfolk
were unfolded in the most lucid manner by
these gentlemen, showing conclusively how
the uslry law Of the State is forcing the
people Of Norfolk to transfer their money
accounts to the northern cities. In the
course of the speaking it was stated posi-
lively that much of the capital Of Norfolk
had been invested by its owners in the
northern cities, rather than incur the
odium of violating a statute law Of the
State. The capitalists were men of in
tegrity-old fashioned Virginians-who
would not shaue their fellow-citizens,
and they sent their money away while the
ruins of the burnt district hideously stared
the people in the face. So there was CAPT
tai driven away as well as capital restrain
ed from coming to Norfolk by the old
usury law, so entirely unsuited to the age
We live in, and so entirely indefensible in
any age. The money used in the move
ment of all the produce sent through. Nor
folk is obtained at rate of interest rang
ing from eight to nine and ten per cent.
The appeal of the speakers was very
forcible, and, prejudice aside, absolutely
convincing.
Mr.. Hansbrough, of Stafford, was called
out, and made one of his short and pithy
speeches.
Senator Ould, of this city, in response to
call upon him, made very strong speech,
in which he presented some of the most stri-
king points in opposition to the usury law.
He said the law had never been revived in
any country in which it had been abolished !;
that in England, after struggle of twenty
years, the prejudces that sustained it had
Welded before the force Of light which
had concentrated heat sufficient to burn
up the improbable relic. He declared that
he knew of hundreds Of thousands-nay,
millions-of dollars, that had been kept
He did not believe there was a man who
had ever built up fortune from nothing
who had not at some time or other saved
HlluStIl ny paying illoie tidu Ola pei CSut'
interest. He asked if it was morality to
hold such law over the community which
forced men to violate it or to go into bank
ruptcy. He denied the right to do this
thing.
The argument of the speakers was posi-
lively unanswerable. Mr.. Walker de-
scribed the usury law as offering premium
for fraud and perjury.
The committee paid the most respectful
attention to the speakers; and at the con-
clusion of their remarks the accustomed
order of proceeding in the ancient borough
of Norfolk was complied with, and those
convincing arguments of debate were illu-
mined and firmly fixed by the spirited and
satisfactory conclusion of the nights enter
tainment. The Norfolk Camp made
strong display OF force, and its several
Parks Of artillery superinduced con-
ciliatory disposition with the most lion
hearted supporter of the usury law, inso-
much that he finally laid gently down with
the Lamb.