The Orangeburg news. [volume] (Orangeburg, S.C.) 1867-1875, 1871-01-21
GA, .al, sdIr Irheg usufy aQifestion.

e.
comments9of the Columbia
Iaid Rddnasagainssffhe Usury1 Bill of MIR.
4iilG Htalksstad The Greacanlv!ille Enterprise
IS sihsS q + better re.prn to the
:, ,jaaa5l gla lay ST limiting to seyenpcccnt and
efI letting ailaws oaer that take their
iii,s,audgues onto say y 2. '.aS.s1
liaidwNothlng rs niGfss absurd Ii. than tho idea
of bringing capital into the State by un-
aaflimited Interest, for the plain reason,
] sthat capitol does not move about for
very yshort Investments, aud there is no
bGFefraaa mtp business that can afford to
s''pay oyer seven per cent. Money on
o'abahs for a month or so, at high interest,
hsihust be gathered in the localities where
the loans are taken; the agricultural,
u and manufacturing and mechanical work
escrs oPtfc State, cant take these short
gfoais to carryon business, and could not
get thegif they would. It is the spec
Stilator or city merchant that operates in
them, and these would have. the interest
s5f thc great mass CT farmers, and manu-
facturers and laborers compelled to pay
nigh interest by, the year, that the spec
idlHt6r may get his money accommoda-
tions9 96r few days, or months.-That
the city papers, with some exceptions,
should advocate unrestricted usury un-
sdersthe money and speculator's influence
of fheir' localities, We arc not surprised;
bat that the press, representing the
country md .gepcral interest of the State
Should dc So, we. will not believe till we
seeiit1but tho contrary We hope that
MF!sWflkes viii call for the ayes and
NOES on HIS Bill, and that, if there is not
now'mdniBcrs enough to sustain it, the
people may elect them next time; bnt
lope+hcR:ll be sustained. 1t is not a
party question oaiG'' ~. a3,g ,s.,c
b reply Plyl To- e al all this, we have but to
"reeur to the dieta, drawn from expert.
cnec, aud the ,hiszars of commerce" !
sItoswasrctho fiold notion Of Aristotle
'thatcmobey is Naturally barren, and to
maRsie Breed 4mpqqncy is, preposterous,
and 8 IcESSSeigsii,n SSYgi,a n saf'Le end of its insti
s. tutiopp, yhieh was only to serve the pur-
poses,Qfexebapge aud not of increase"
Hence tho Mosaic law among the Jews,
andetHc cSniioh fdMw. have prohibited the
taking any Increase for the loan of mon
ey;apid as the IS. school rdivines have branded
the spraeticeo of,taking interest as being
contrary toaie divine law both natural
and revealed 81, 59' -De
sir'Whma.! Blackstone, says, in answer
to altthis, that the Mosaic Mo precept was
clearly political not.a moral preccpt.
1t only prohibited the, Jews from taking
nsurY treomq rom, their brethren the Jews, but
in express Words permitted them to take
i. from augsra!lgs gsasr And the S; same bar
rennces of Aristotle: applies equally to
housca 1Efa Wbsc HoileI nerer breed breed bouses And
though money vas originally used only
for pqppsasioii exchange, yet the laws
of the stafslnaya we'll permit it to be
for profit, ifaKe esontehiennce Of society
(the g4rssaAt g4ssaAt eaR8d a8da }qf which money was in
vcn'eds2} Is shall allsiP1 lrssagige gSe.it. it. oae
Uomperee cannot, exist without mu.
tual and ektenAve credit. Unless IN on
ey can1sba Borrowed, trade cannot be
carried 6iig aud without u prefaiium for
- ;!s lean cr RiiTs, none would hire or lend
it. Thssd,prastieal lexperiments of all
this reasoning has been tried. Com
merce was atoitslo&s ebb in the mid
die age, when superstition and civil tyr
ranny haaId placed total; interdicton all
interest, lkspgta kpta iqctths qac language of thesame
elegant writer, sMlteph mems minds be
came more enlarged, when true religion
and real liberty revived, commerce grew
again into orrodlt, and loans upon inter
est were feiiheroddcea. ="
The exorbitance or moderation of in
tcrcst depends nponatwod circumstances
the Inconvenience edhndlhe hazrrd. "The
~ urcnjence 65s1 1s,it1i,,1 ~ c,d, mere, lie es.