The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1872-02-12

pie of the different States, and that so
we'll settled was this belief that no such
laws as the one now proposed existed
save in Delaware and Connecticut and
that in neither of said States does the
debtor get the benefit of the forfeiture,
and explaining that the effect OF the
bill as reported by the committee would
be different from what they intended
and clam upon the floor by not only
forfeiting the interest but also the prin.
cipal.
Mr.. Williams replied at some length
in favor Of the measure. He main
tanned that it was a fallacy to pretend
that law allowing high rate Of inter
est was beneficial to the people. That
no agricultural people could pay over
six per cent without ensuring bank
ruptcy. That the net profits in the
capital invested in business in this
State was less than four per cent and
that some law TO limit the grasping
selfshness Of the money Shylocks was
an absolute necessity.
Dr.. Summers opposed the measure
upon the ground that money was a
merchantable commodity and would
naturally seek the best market. If the
bill under consideration should be
passed, it would have the effect to drive
lenders from the State, and not only
would foreign capital seek other fields
for investment, but our own citizens
would send to other States the money
which was loaned in our midst Money
was being loaned in Charleston at from
Is to "a per cent, and if the parties
chose to pay it, he thought it WAS
their privilege 10 do so.
Mr.. Parker replied at length aud
delivered some hard hits at the monev
kings who displayed their Loyalty by
lending money to the Government at
$50 per cent, and an exemption from
taxation.
Mr.. West followed in q short argu-
ment on the same side. He is not an
accomplished speaker, but is one who
inspires every one with his earrestness,
and his high character for integrity and
honor gives him always careful hear
ing. Not aspiring to the graces OF
oratory, his language is terse aud simple,
his arguments fair and free from any
species of personality. He sad all that
could be said on his side OF the question,
and said it vel, and however others
NAV disagree with his conclusions, all
will admit his integrity Of purpose.
He was followed by Mr.. Barr, W 10
opposed the measure in one OF his clear
est speeches. He considered it a relic
of the past, which experience had
taught us was unwise, and while be
revered Virginia and the memory o!
the statesmen whom che hal produced,
he thought it was unnecessary and I'M
wise for us to adopt those measures
which had for almost an hundred years
kept this section OF the State an almost
unbroken wilderness, with all its untold
wealth hidden beneath our rugged
mountains aud fertile valleys. We
needed money to develop our resources,
and if the policy indicated in the bill
should ever be adopted, works OF i'm
provement would cease, manufactures
ianguish, our beautiful forests rot where
the God of nature planted them, and
our minerals remain hidden from the
sight OF man. 1t would be but paying
a premium for rascality TO pass the
measure, Tor the man whose necessities
were accommodated by loan of money
could, under its provisions, not only rid
himself OF the high rate OF interest, bat
defraud his creditors out OF his p:in-
At the conclusion OF Mr.. Bars
Mr.. White, Of Marshall,
moved to Indefinitely postpone the bill.
and upon this amendment the ayes and
noes were taken, and the motion los, 10y
a vote OF 90 to 80. This was fair test
of strength, and may he considered az
insuring the passage OF the bill by the
House, unless somebody has reason 10
change their views before morning.
The Convention spent the day in dis
cussing the report OF the committee on
Bill OF Rights, &c, and adjourned with
out coming to any conclusion. The
President announced, as the special
committee under the resolution relative
to submitting the place for permanent
seat OF government to the people,
Messrs. Wilson, Miller and Atkinson,
of the First District; Messrs. Maslin,
Osborn and Boggs, of the Second Dis
trict, and Messrs. Haines, Warth and
Thompson, OF the Third District. Upon
their being announced, Mr.. Wilson rose
and stated that while it was at all times
a delicate matter to criticise the action
of the President, he wished, without
imputing any improper motives or
intending any disrespect 10 the Chair,
10 call attention to the fact that ia the
appointments of members from the
Second District the large and populous
counties Of Monongalia, Preston, Ma.
rion, Taylor, Barbour, Upshur, Ran
dolph, Tucker, &c, had been entirely
overlooked, while two members of the
committee were from the extreme east
ern Panhandle, and that it was little
singular that all the members from that
district had voted against the Wheeling
propo-ition. lie did not suppose it was
intentional on the part OF the Chair,
for no one was better acquainted than
its honored incumbent with that parlia-
men,ary usage and courtesy which had
almost become law 10y practice, that
when a committee was raised to con.
$ der any proportion, the friends Of the
measure should have majority
upon 1t.
Mr.. Mathews replied that any in
against the President were in
bad taste, in view OF the strict integrity
and high honor oil its occupant. The
whole proposition was wrong, and only
served to take up time and embarrIs
the action of the Convention.
Mr.. Wilson replied hv saying that he