The Orangeburg news. [volume] (Orangeburg, S.C.) 1867-1875, 1871-01-21
I,.ar lad, sdHhes susafyse Question.

a, ,rda; Erred 4clfrsee .isg:9.t5sp' ~.
,;h ens,s .hcus eE01o ebt1E .9A
sat,.,IvoThe 4aGfrsss aGfrsssqnvjlle En- e'Trise is out
tho comments of the Columbia
Isid Mdmftaeainstfthei Usury Bill of Mr..
.isI W4lAesaadIhe Greaeanv'ille Enterprise
.'ne'tHiats Thai i Is better t9 ''return to the
:, ,lSd lay ", Of limiting to percent. and
40; Of letting allailaws over that take their
.saqriaks,autgues on, to say -
doldwNothing is ism; n;ofds i d absurd than the idea
of bringing capital into the State by un-
ahilimited Interest, for the plain reason,
] sthat capitol docs not move about for
very Short Investments, aud there is no
permanent business that can afford to
e''Phy oyer seven. per cent. Money on
o'qbahs. for a month or SO, at high interest,
hsihust' be gathered in the localities where
the loans gre taken; the agricultural,
u and manufacturing and mechanical work
ozcrs 'oftkc State, cant take these short
E1oahs to carry on business, and could not
get then, if they would. 1t is the spec
ytilator or city merchant that operates in
them, and these would have the interest
OF The gfcat mass cl farmers, and manu-
facturcrs and laborers compelled to pay
high interest hy the year., that the spec
',ilatcr may get his money accommoda-
'tions 46r q few days; or months-That
the city papers, with some exceptions,
should advocate unrestricted usury un-
sdersthe money and SPECTATORS influence
Of fEeir localities, We are not surprised;
but that the press, representing the
eeantry and general interest of the State
sheuld'dc so, we will not believe till we
SEQ it-but tho contrary. We hope that
Mr. Wilkes will call for the ayes and
noes on his 1}iil, and that, if there is not
rowan,cnibcrs enough to sustain it, the
people may elect them next time; bnt
hope hc2W:ll be sustained 1t is not a
party question"
Tn reply 70 all this, we have but to
''rccur to the dicta, drawn from expert.
cnec, aud the hlsetAary of commerce."
Itoswasy tho old notion of Aristotle
"that.fhohey is naturally barren and to
maRSfs19ba55e 9ba55eSedi edi : money is, prcposterous,
and q IeEB3e9iySii IEB39ySii,In n ftLc end of its insti-
tut.iiqn, Yhieh was only to serve the pur-
poses, ,ofexchange aud not of increase
HENCE tho Mosaic law among the Jews,
andotAc canon ifw have prohibited the
taking any increase for the loan of mon
ey; and the school divines have branded
the practice of taking interest as being
contrary toaic divine law both natural
and revealed ~. ~
Sir'W Blackstone, says, in answer
to alt this, that the Mosaic precept was
clearly political. notsa moral rreccpt.
1t only prohibited the Jews from taking
usurY trGGml their brethren the Jews, but
in express words permitted them to take
it from arstraHgeri And the same bar
renness of Aristotle, aprlies equally to
houses Which never breed houses. And
though money was originally used only
for ripppsastoii exchange, yet the laws
of the Stafnapay5 well permit it to be
for profit, ifaKc CONVENIENCE of society
Che g4sat dF& i for i"vh which money was in
vontedt33 : shall 3lIs!y require it. ry4
&C. ,y.crl - sassnots exist without mu
tual and extensive credit. Unless IN on
cy can4sbe Borrowed, trade cannot be
carried 6nG aud Without . premium for
its loan Or hire, pope would hire or lend
it. The sd,prastieal experiments of all
this reasoning has been tried. Com
mercc was atoitsil Lowest ebb in the mid
die age, when superstition and civil tyr
ranny had placed a total interdict on all
interest, ,ksqptn kqtn iq qath the language of thesame
elegant writer, sMlteul mems minds be
came more enlarged, when true religion
and real liberty revived, commerce grew
again into credit, and loans upon inter
est were fe;ineroddced.
The exorbitance or moderation of in