Clarksville chronicle. (Clarksville, Tenn.) 186?-1872, 1870-04-09
vsunx LAWS.

,,.,,r,, ,..,. 4. e., =, an .s,,x,... .o,, :,
.eay "" 70 .Ioni 'ne a"i 'HsS' 'a.e'y
delivered by j. ID. kiilebrew, Esq,
before the Farmers Club Of this
county. Not having room for its
..,,. ~ .s .o ~ 10
puo'lca''on, ~ 'ne time ~ uehsery,
we reproduce some extracts from
time to time for the benefit Of those
who NAV not have seen them:t "
~ -. -.
Against the powerful cornbina-
lions OF raiiroad interests and the
immense accumuiations OF capital In
centres, against the ma
o. banking institutions
ana spectators, the agriculturalist
needs some protection. Can any
vslid reason be assigned why these
mon'ed corporations may virtually
lend money out Mt Twelve, fifteen, or
twenty per cent, and private indi-
viuuais are restricted TO SIX, or by
speciai contract 70 ten Is the
moneyOi corporation intrinsically
OF more value than the money OF q
private indiviuuaIY Why Is my
money, any more than my Hour or
my tobacco, limited IN price? l have
Prec'seIy tle sanie rigny 70 inc mar
Ne. price oi NY capital that I nave
70 me maIket price OF my mouse
uu .us I,Hns 70 AZ ne price OF one
In ,n 'ns rlsnt " Tx tne price o. ue
otner. y gooa reason can DC given
for liking the price OF my money, the
same reason VIII apply, with even
greater force, Tor putting price on
my house my morse, or any otncf
properly, that may 6e possessed OF !;
vecasse money 10 suolect 70 greater
Nnu more suuoeh cnankes IMAM pro-
perry, anu more eiemebts enter INTO
~ eSyi mate OF us value. Ihere are
INC eiemehts 81 r,sK ana OF easy ana
quick ioiiity-scarceiy APP
Preciaoie quantitfes III the estimate
OF the Vaiue @! otnef property, they
uecome OF ieaaing Importance IN tne
Getermination OF the value OF money.
Ohe, oniy, uitimateiy governs the
., OF most other products, ana
tneM iarkeI vAue rises anu iaiis
Lnore ieisurely Out OWING 70 the TEL
eg.apnic swlitheas Win whach money
- mover, = marker may De scarce
.o-uay anu giutted tomorrow fhere
y ereater reason, therefore, why the
price OF otner property should be
n9eu ny law, than the price oi
money; gilfus4 Gua asa.
ms law, as now enforced, virtually
restricts ohfy the price OF money he.
longing 10 private individuals. II II
Is contrary 10 good morals, TO enitght-
eneo polcy, or 10 the security OF the
STATE, 1or private capitai to sell for a
hiRhe. rate IMAM SIX or Ten per cent
why 90 not the nigher rates deman'
ueu ana ontained ny banking c0rpo
rations offend public morale, endangel
the safety OF the state, orfun countel
10 enilghtened statesnansh'pf Sup
pose you WISH 70 borrow 2 Thousand
dollars. Your banker tells you tina
ne mas no money TO lend, but he vii
ouy DIS drawn on New York, or AM
S.ner pace peyonu the limits OF TN
STATE. 90 phi y drawn by you OF
real or imaginary nrm In New
york imaginanly shipped 70 New
iork accePteu ~ the real or imagi
nary nrm remains there ID imagi
nation TOT ninety days, ana returned
70 your oahKer, IN Inauguration, 10
eotiection. Turing all THIS time !
mas, perhaps never lett the desl
upon when " was drawn; yet y.
nctlon OF law u can command 10
tins trouble" higher rates ny four
; nve, orsix per cent. Tran Is allowe'
10 private capitai. The banks ar
not to blame FOR using this power
Is iegitimateiy theirs, ana IL shoui'
belong to every one.
1 but these transactions work
greater hardship than would az mrs
sight appear. The small capitals
cannot buy bills or engage in .othe
banging privileges because he Is no
licensed 70 40 sol ana LICENSE to IL
80, would cost more than the amour
OF his capital. lie cannot lend hi
! money at rates That VIII pay rs mucl
as investments IN bonds, stocks Am
other securities. Investments In TIL
manner retire large, sums rom IN
. hllSinpsa of the nn1lnfrV- and lnpk