The Lancaster gazette. [volume] (Lancaster, Ohio) 1863-1886, 1870-02-10

charge on loans. The Government
of the United States was trying, TO
protect itself by funding its indebt>
edness at low rate of interest.
How necessary, then, that o State
should protect its citizens against
high and exorbitant interest.
Wherever free trade in money had
been tried, it had proved disas,
trous to the people by producing u
Capitalization in wealth.
Mr.. ]. advelt ted to tho argument
that high interest would encour.
ago capital to come among us. He
urged that such legislation had a
tendency to induce men who had
capital to abandon the legitimate
pursuits Of industry, and embark
in speculation, and become sharp-
ers. 1t was necessary to restore
the six per cent. interest law in
order to protect labor, and to pre-
vent the accumulation of the en-.
tire wealth of the country in the
hands ofa privileged few. Six
per cent. interest was the highest
rate that any man in legitimate
business could afford TO pay. The
pending bill was a necessary mea>
sure to protect the people Of the
State against moneyed corpora.
tions. 1t was demanded by the
mass OF the people. The price Of
labor is depressed and the tenden
cy Of prices is downward, and yet
in the taco Of all this, higher rate
for the use OF money is demanded.
Let the rate of interest DC put back
wherefit was In the good times be-
fore the war.
In the House, tho proceedings
were unimportant.
In the Senate, on the 4th, Mr..
Leeds introduced q bill to amond
the act relating 10 County Com
missioners, 20 as to compel the
Commissioners to make annual re
ports to tho Courts OF Common
Pleas, and to have the same pub.
lishcd in tho newspapers, by order
OF the court, was read tho third
tins, and tho question being on its
passage, it was opposed by Messrs
Potts and Daugherty, and advo
Gated by Mr.. Prophet.
Tho yoto was then taken, and
the bill was passed, yeas ri, nays z
Mr.. Amos introduced O bill the
object Of which is to give the mi
norily party at elections ono judge
and ono clerk Of election.
The "dissection bill" was put OF
Its passage and was lost for wan
of a constitutional majority. Th'
voto was yeas II, nays 10. Thi
vote was subsequently reconsider
ed, and tho bill passed by q vot,
of2l to 0. Tho title was amended
so as TO read "A bill to encourag'
the study of anatomy
Resolutions Of respect TO th'
memory ofox Gov. AlIon Trimble
who died on tho 3rd irst., wer
adopted, and the Senate adjourned
In tho House, tho Williams coun
ty election case was disposed o
by adopting tho majority report O
tho committee ON Elections, dcclar
ing Mr.. Blakeslee entitlcd to hi
seat as o member. The voto wa
yeas 53, nays 80.
Tho House adoped resolutions Q
respect TO the memory Of ex-Goy
Allen Trimble, deceased.
S. NJ. Smith, jr., was elected OF
fetal Reporter Of tho House.
In the Senate, on tho 9th, Nj
Dangherty presented tho petitio
Off citizens Of Fairfield count
for law TO exempt building asso
Citations from taxation.
A resolution, offered by MI
Hunt, raising q joint committee G
tho two Houses to consider the dis
position Of tho Agricultural Co
lego fund, was adopted, yeas /!
nays 4.
Tho proceedings OF the Ious
were unimportant. 3
In the Senate, on the 7lh, NJ,
Campbell, from tho Judiciar
committee, reported back tho bi
to re enact the six per cent, inter
: cat law, recommending Tia indefr
ito postponemcnt.
On motion OF Mr.. Prophet, tn
report was laid on tho table.
. subsequently, at tho afternoo
session, the bill wac taken IRON II
tablc and indefinitely postponel
according to tho recon mondatio
: Of tho committee,
The bill to prevent gaming WI
. indefinitely postponed.
Tho bill allowing appeals
suits for divorce and alimony WI
amended road q third time IN
passed.
A resolution was adopted Il
printing additional copies Of II
a Secretary OF States Report.
Q Mr.. Campbell's tariff resolutiO
+ was discussed and referred to til
! committee on Federal Relations.
! In tho House, resolutions wei