Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1869-03-09
a tFsoa ,he Bucgfus 90, Forum, ]
The Ten Per Cert. Iniquity.

The Money AIohgcrs. Bandholders, ard
National BANKERS. whose crocodiic. tears are
eontlnaaily shed over the niseries "f the poor
and unfortuuate. aud whose crocodile mouths,
exposing great Fo@s of double teeth are con-
tinually open TO devour the objects of their'
disinteres,ed sympathy, are daily petinonfbg
the Ohio Legislature fJr the passage ~. a stem
per cent" Usury Law. The burden. ,f their
prayers is "Oh most noble, most maa napuuus
Law. makers, have mer:y m the Poar! Not
content with their petitions to rerfre g their
grievances. these pnrtl, ronnd.be!iie1 fellows
With gold watches heavy seais and gold headed
canes have gone down to Columbus in person,
where they can be seen every hour OF the day.
"needs" and ''rishts" Of the poor m1n"
through Puritan noses whetted to shsrpness
on Plymuuth Rock. r.
The curse of 'H@d rest on snch vilianouS
hypocrisy That man must be luna,ic or a
foal. who does not see at glance that self
interest is the logic nf 1t ALL When in the
history Of mau did capitol protect labor 2
When did the Banker unlock hia boarded
wealth to the iriendless son Of Poverty. with
out a Bsnkers usurious price? When did
Shylock compassionate Antonio?
Now, let us find the milk in this cncoanut.
The present law of Ohio, fixes the legal rate
of Interest at 6 per cent. per annum, and
pronounces any loan at an advanced rate usury,
afixing thereto penalty. But notwirhstaud
ing this the Banks manage t" he p the ''poor
man" along in his sufferings at the charitable
rates of IL and Is per cent. The Bunkers
continually fear that the borrower may get
sharp on their hands, sue for justice in the
courts. and in the twinkling oi an eye, have
their interest reduced to the legal rate of six
per cent, and their bloa'ed pocket backs strip
ped of i'll gotten gains. So the Shylncks
have an eye to business in all this anxiety for
change in the law, for these two specific
reasons
1st. They wish to loan money for rrenter
interest. An increase of legal rnte will in
dicate an increase of Uohue in money. The
very moment this bill passes and becomes
law, money lenders and Bankers will sudden
ly find that money is worth more than bet"Te
and will tell their customerS-.'the value Of
money has increased The Legislature says
it is worth ten instead of six per ceut. When
it wsa worth six per cent. you pid us twelve
and fifteen per cent, did you not? If you
paid us fifteen per cent. them you must pay
twenty per cent noso, and will negotiate their
loans accordingiy.
End They ,oish relief from, the penoty of
Csury. For example. horrnwer hri""- su't
against the Bank for "sUJY under the aid law.
and the court reduces the rate "f interest TO
six per cent, while under the rev law the
court can only reduce the rate of interest to
ten per cent. making clear and manifest
difference of four per cent on every dollar of
money loaned.
IF this Infamous hill passes the House and
becomes law. God help the yHnng men of
Ohio. who have neither bags Of money, nor
troops of friends to give them business credit
Unable to borrow at such usnrions rates.
financial ruin will stare them i'll the face at
every turn. Whoever attempts tn do business
on borrowed capital, when the lowest rate of
interest is ten per cent has gigantic Boa
Constructor around him. whose touch is Of icy
codness. and whose rrcssnre and crushing
coils will produce certain nni inevitable death.
Have care. cen'lamcn If the Legislature
of Ohio" with resnccr 30 vnnr ac'inn and vote
in this matter The ua~ses Of the people are
poor men. remember money borrowers. and
not mHney lenders. and they make and unmake
Legislators by virtue of their sovereign will.
In their name and in the nam" IF the nst
| God who hath COMMANDED "'ho" shnh MT
eract Usury of thy B,"'i"r # hr hc ""ren
poor. and fallen in decay 'cith He"." we adiure
! you to not stulticy your honor and conscience,
but to crush with strong hand this hydra
headed monster of Tn'qui'y.