The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-20
The Usuy Law and the PrOba-
bility Of Its Repeal.
LIVELY FIGHT AHEAD.
How Conkling Might Have
Lost His Berth.
A BOARD OF COMMERCE FOR NEW YORK

the SpeakeTshlp quesIlOn nad Deen decided ana
Mr.. Conkling's star engagement at Washington
had been renewed, by caucus, at least for six
years longer, the profitable business Of the session
would begin without delay. 1t would be rather
harsh to say that all of them have an eye simply for
the loaves and fishes, but that goodly number OF
them feel very much inclined that way, and are
chafing over the baCkwardness Of the "season" in
coming forward no one can deny who is at all
FAMILIAR with the little cliqueS and clans that have
already been formed ostensibly for social en-
joyment. The reformers last year made their
social circles very narrow although the said circles
were numerous and excessively and very naturally
exclusive; therefore their successors, who are
determined to follow in the reform footsteps their
forerunners trod in travelling and counselling by
fves and tens are only following
WELL ESTABLISHED PRECEDENT,
and the Legislature Tor good or bad, you know
always follows precedens. In justice to the great
body OF the present House, however, 1t may be
said that it means to do WELL and that If the party
whip is not applied too vigorously in the future
some real good may come out of the Legislative
Nazareth But everybody knows what good In
tentions amount to in the first second week of a
session at Albany. The new members, who feel
that 1t Is useless to waste their precious time in
waiting for the good season to come, which they
hope will be brought about by the new charter and
several other bills relating to the commissions in
New York. are loud in their determination to have
short session. They want to go home by the
middle OF March, they say, and they want New
York TO be attended to right away, and not have it
doctored las it was last Year, at the very close Of
the session, when there is a chance that big
bone may get lost In the general scramble for
small ones. The charter, in their eyes, is
THE ONLY SOLID CHANCE
theY will have to make IN for all their nxetes
and vexation Of spirit. 1t Is true that the mag.
mates who rule the roast are determined. II rumor
speaks truly, to put everybodys nose to the grind
stone who has any right whatever to be called a
republican. They will admit OF no subteriuges, and
nobody can kick against the pricks and at the
same time be treated as one OF the faithful. The
fat has gone forth that he who dares to make a
demonstration in the wrong direction must be
read out Of the party instanter anu that the head
wire-pullers mean business 1t Is only necessary
point to the way they have already driven their
recalcitrant Senators out OF their councils. The
new members understand the situation thoroughly
and just how far they will be inundated by those
threats is now very interesting question. That
they have not been able to frighten all the new
Corners is a fact which has already been proved
THE wOULD-BE INDEPENDENTS
which was held on Friday Lett alone to them
selves the Independent lew OF the new members
Will doubtless give way easily when the hour OF
trial comes to hand; but they are not alone. The
malcontents among the old members, who were
shabbiy treated by the Custom House party in the
distribution OF the committees and the patronage
OF the departments, are in as bad mood as ever,
and as they learned trick or two worth Knowing
during the asst session they NAV be able to drill
their less enlightened, but equally grOggy cOn6TeS
into sucn state OF discipline and Witness that
THR OPPOSITION TO THE NEW CHARTER
as 1t stands and 70 two or three other pet bills OF
the Murphyites may not be utterly contemplate
when the time comes ior 1t to SHOW its sire 9Th.
bers who are dissatisfied with their present status
are not OF the most laudable kind, but every
thing is fair in Albany legis alton to the mind OF
him who can make Others believe That the end JUS
titles the means They will, If not bought OF
before the charter Is to be voted upon, base their
opposition to 1t the ground that it Is not what it
should be.-that it looks more to the accomplish
ment OF the schemes and ambitions OF a small
COTERIE OF WIRE PULLERS
than to the welfare Of the metropolis. The out
side arguments which will be used to make the
malcontents and Others take this view OF the case
may not only be able to obtain Tor the city less
partisan charter, but at the same time go homo
at the clOse OF the session covered with 'inde-
pendent" glory and by no means beggared because
OF their patriotic efforts In behalf the dear peo-
pie In Gotham whom they know SO much about
these
WISE MEN FROM THE COUNTRY.
It is pretty certain tnat the charter viii not
Cities without getting severely altered in many
important respects and re, OFT has 1t that plan
is being matured by which the changes proposed
will give the republicans stronger nod upon the
city than even the bin gives them In its present
shape II these changes are made the plan of the
leaders Is to rush It through both houses In good
Old 1ammany STYLE and 1t IS Just This plan, If car
red out to tue bitter end, which Will give the NAL
contents seemingly lstlfabie cause
KICKING IN THE HARNESS.
The prospects are, therefore, moi SO brilliant Tor
the charters getting through without a battle as
they seemed to be few days ago.. There are-at
least at present-a sufficient number OF members
determined enough to make row, and, this beng
so, it is highly probable the plan TO get all the re-
mothers son OF item pledged to its unquestioned
support, no matter how 1t may be changed in COM
mittee TO suit the purposes of the party VIII be
abandoned. Certain operations that are now
going on in New York may also add new
the charter does get through 1rst as the custom
House want it, the victory will have been won
not so much by the generals who have the largest
battaions as by those who have had the best artil
lery-in other words, the biggest purse, or It's
equivalent In offices that pay handsomely and re-
THE UsURY QUESTION
is evidently destined to create great deal Of
strife in both houses this session. and che prospects
for the repeal of the law as 1t now stands look
better than they have looked Tor years past, for
every one knows that every session Tor the past ten
years repeal bill has been one OF the lea
lures OF Albany legislation. The farming and agri
cultural interests OF the state have always shown
locking even to the modification OF the statute on
the subject. They have OF late, however appar-
emily become less incorporating on the ques-
ton, and this, added TO the strong recommenda-
tion in the Governors message advocating the re-
peal OF the law, gives the friends ofrepea no small
hopes OF being able to succeed at last. Mir. Robert
sons bill, though TO the point Is not as compre-
hensivc, believe, as the repealers would DESIRE
inasmuch as they object to that portion oil IL which
authorizes greater rate of interest than seven
per cent, and at the same time makes provisions
for agreements in writing making the rate above
seven per cent recoverable In action. Mr. Voorhs,
| OF Rockiand, who init oduced bill on Saturday
| regulating
THE INTEREST OF MONEY,
meets the question exactly as the repcalers would
have H. IL makes the legal rate OF interest seven
per cent and declares it lawful to loan money at
greater rate, but provides that no greater rate
than seven per cent he cred In any actlou'
The bill, like senator Robertsons, repeats the sec
ond, Third, fourth filth, sixth, seventh and elghtn
sections OF the Law OF 1887, thus really DOING away
| with the Usury law altogether. TO give you an
| idea Of the real Importance of the bill herewith
append the sections OF the Law OF 1887 which 1t re-
1 peas. They are IA tOOws:-