The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-02-04

rived in this city. They came here to
make an appeal to the members of the
Legislature in behalf of Norfolk on the
subject OF change of the usury law. The
delegation consists of Messrs. Marshall
Parks, Henry Ghiselin, William Lamb, G..
G. Walker, J. H. Hendren, Washington
Reid, and G. W. Camp. They Established
their quarters at the Exchange Hotel: and
"quarters established by the citizens of
the ancient borough mean something.
At the instance Of the delegation, the
Committees of Finance of the House and
Senate held meeting on Saturday night
in the room Of the delegation at the Ex-
change, Judge Crump in the chair. The
views and arguments Of the delegation in
behalf of change in the law relating to
interest upon money loaned were fully and
clearly stated by Messrs. Camp and
Ghisein. They desire the Legislature to
give their town the benefit of special act,
since a general one relaxing the rigor Of
the old law has been rejected. They urge,
as an argument of special force, that
their city is so closely connected by rapid
communication with other large COM
munities, where interest is higher, that it
is impossible for them to resist the infiu-
ence of the intercourse. Most of the
money borrowed in Norfolk is upon time
drafts on northern cities-mainly upon New
York-and they are taken at discount
which added to the premium charged
makes an interest ranging from eight to
twelve per cent. These drafts are sent on
by the banks to the cities on which they
are drawn, and there discounted for the
bank at never less than Seren per cent.
The usury law thus forces discrimination
against our own people, restraining capital
from coming here, and compelling them to
submit to extra charges to obtain it through
drafts, sc. This, with many other special
grounds added to the general arguments
on the subject, were presented in q clear
and practical manner by the speakers.
According to the resolution of her Board
of Trade, Norfolk simply asks that the
penalty against usury shall be abolished so
far as that city is concerned.
The speakers were listened to with re-
spectful attention. The Finance Commit
tee are, indeed, quite practical, and, as we
think, orthodox on this matter of interest.
Besides the delegation and the legsla-
tors present, were several invited guests,
who were interested in the proceedings,
Pal lHt StIDUL ut vi lnC pSlloi
ances of the evening.
In the beginning of this article we said
that "quarters with Norfolk delega-
ton meant something. And so it does.
After the discussion of the rather dry sub
iect of usury, notwithstanding it has so
much interest in it, the company were en-
tertained with some of the finest oysters
ever sent away from Norfolk. They
always keep the best down there for their
own eating. But desiring to make an i'm
preston, the delegates brought up some
genuine t,centy to fJty per cent. oysters
!. e., oysters that much above other oysters
in value--pleading with most " miraculous
organ" against the limitation by law of the
value Of anything since they enjoy the in
alienable right OF bringing their true value
in the market. Most generous oysters j
1t is laid down in the constitution of the
"oyster fundum that oysters are not to
come to an entertainment without the
proper libations to their honor III the
most generous of beverages; and law of
the ancient borough consecrates "dark
brandy" to this rite most austerely de-
manded by the oysters. We need add no
more on this point save that all the require
ments of law, all respect to the ilustrious
family of bivalves, were fully obeyed and
accorded. There was not a legislative
dignitary present, not even the rather con-
stricted but esteemed member from Rap
pahannock, who could not have accorded
to irrational bank of the oyster fun
dunn entire immunity from the penalties
of usury
No less than three candidates, or nomi-
ot la,ct CO., Cnyarpnr nrpSpnt-
Governor McMullin, late Of Washington
Territory, now of Southwest Virginia; Sc
nator Keen, of Pittsylvania, and William
T. Sutherlin, Esq, of Danvllle. Mr..
Suthcrln was chiefly engaged practically
in extending the limits of Danville
after his irresistible manner. Indeed, his
platform is altogether "practical y; he Is
of opinion that if every man minds his own
business the South will soon recover-a
first-rate platform for Governor. 1t was
no disrespect to the honorable candidates
that the oysters were opened before they
were requested to open their budget OF
principles on interest. Mr.. Sutherlin had
unfortunately left before that chapter in
the Norfolk nights entertainment was
reached. We imagine, however, he is Or
thodox. Governor McMullin was called
out, and expressed himself entirely in ia
vor of letting anybody pay what they
choose to contract for the use OF money.
The usury law was an old one, no doubt
founded in wisdom and long sustained by
prejudices which we should all respect;
but times have changed, and people who
desire, for good reasons, affecting the COM
mercial relations of the country, to pay
/ 1 hn fhanuhf npuht N hp al :
lowed TO do SO therefore he would like to
see towns which applied to be relieved
from the restriction upon interest gratliled.
Ultimately he had no doubt such change
of the law would be entirely acceptable to
the whole State.
The Governors remarks were received
with much favor. Senator Keen was cali
ed out, and indicated, as practical mode
of settling the question, the passage OF a
law allowing higher rate OF interest than
six per cent. by contract, and the submls-
sion of it to the votes Of the people and
he expressed it as his opinion that can
didate for Governor who opposed that law
would find that "he had taken the wrong
shoot"; which conclusion, with the pre-
lude, excited unbo unded laughter.
1t is needless to extend this account fur
ther to matters that must be heard to b.
appreciated. The delegation from Norfolk
were untirng in their attentions, and il
was gratifying during the night to be in
formed that there is about to be close
railroad connection that will put US agrea'
many hours nearer the city they come from
DR.. Robinson, the Senator from Norfolk
established acquaintanceships between nj;
constituents and the guests, and made al
free and easy. Some people desire to make