The interior journal., 1873-01-31

t.. A.
r e, N, :. -
.s;I ar, ,,o r.,o Of ;,,.ro,,
w;,hor, sl.,or.,;on os ,hsss c.,... =
a,o,u.,;on of ;,,or.s, !, c.n r..d;Iv h
,.,..-,o,,,, a., h;uh 90. 81 ;.,..... ;
no. ;.a;o.,;on 90 ,ho n,osr.r;,v 81 . .o,r
.. Is,ho -, \. -, h.. !.
cre..s Of r;st !, !. an .v;de,oe of . lacl
oe nrosnor;,v R;.os;n,s,~,s.o .,,ol
.a,r,. !. ,o, honos,;.I - 80. =
!. mora nros,.bls 10 Tho I.ni., 40 Ian,
:, &C.. -. co, mh.n ,ho H.. 4. e.
than a, ton mar cant whom fvo i Car ,b
ri.k and five i for the use of The money
I, /. ru;nou. 70 tho borrowar hec.us. ,
,bousand dollars ars worth no mo,e =,
him when he pays Eve per cent me,e,v 4,
risk. than when be psvs nothing for II
These causes of the auctus,icu of rates O
interest. being thus mentioned. ratbe,
than considered, do we find anv copdi
tions or circumstances operating in Ken
lucky, excepting perhaps in indiyidua
sections. which properly iustifies n biuh
rate of interest. saw
TEN on rwr,vr PER CENT,
C.nd;dIv we tb;nk not Tho chsr,cte,
Of risk which the Lender ;ncurs in Ken.
tuckv is greatly modified bv the pract;cs
of recurring endorsements Of the privste
notes of the borrowers. If n man bor.
row money for a hazardous Investment
or If he he of n doubtf,l solvencv. the
endorsement of his note nv persons of re-.
covnizei necuniarv ability. .bates the
amount of risk and sbopld therefore do.
crea.e the rate of interest This is the
nrer.;l;,e nroo,;oo IN N. h,.;,o.. ,,,n
action of borrow;nc and ,end;no !, tho
woru And 20 ,noLo o..
s,ra,ce doub,v sursp av.n whon tho
horrower IA of ,ho mo-, uno,o.,;on.d
;ptegr;tv and of undo,h,f,I solvonov
additional soc,r;,v "a roou;rod so,no,;ms.
personal and M, unf,aopen,lv bv means
of mortoage before the lender nar,s with
his money Rv ,b;s ms,,s tho .mo,n,
Of risk ;s NOT decreased bu, ono,bor CON.
d;,;or :. ooo,rod wh;oh who, .oa,.o1
,ends IN tho os,,II;sh;,a of . Loo r,,o oe
;n,orest v;v. p,no,ra,;,r :, ,ho ,.,.
ment Of ;n,erest wbon dns Tho dob,
beino sasa and tho ;n,sro., ho;na n.;a
the investment. or lending.
i of that character which NAV induce
those who have n surnlus of money 10
nerm;t II ma ws h,vo s.;a 20 ram.;n a.
i ia This ia neculiarlv advantaoaous 10
guardians trustees and other fduc;or;es
Il is similar in principle to n funded
debt. and inst ne Great Rr;,s;n has f,,d.
Cd ber pub,ic debt at three or sour NOR
rent 40 can those who have their sur
plus to lend afford to lend itata low rate Of
;,,erest who, tho r;.L "a email whon
the interest will he maid nnuctuallv
vha, !, IA suh;s,, 10 . ra..I, nno H.,
notice or wben IL can rsma;n in tho
hands of the borrower II the lend.
or choose. These are the conditions on
erating with reference 70 the Government
of Great Rrita;r which en,ble ber 10
borrow money at 90 low n rate Of inter.
est And those are tho conditions which
operate in Kentucky partlv if not ful.
w. by reason of the private endorsement
system
Money lender. of the mora avor;c;ous
kind have ob;ectad N n s,a,ute Law 6x.
ing interest for the loan or forbearapce
of money at n rate not exceeding s;x nor
cont unon tho cround that tho ,a,;.lo.
turs micbt a. we'll s,,smnt 10 sx ,he
prices of horses mules or anv other
species Of nronortv LEAVING unnot;ced
what would he the str;c,u-es of ,be..
oerson. u,on the lec;slotu,e u !, sbou,a
ax the rate Of interest a, ,welvo Nor
cent. we only suggest that sucb an ar.
nroves entirely too much Rv
! paritv of reasoning. the legislature
c.os and salaries of public officers. il
should not empower the County Court
to REGULATE the rate, Of tavern charges.
il should not regulate the prices of
license, to engage ia the various pursuits
for which a license is required. So
when reduced to its last ANALYSIS, it
would forbid to the legislature the mower
10 regulate any of these matters. which
il is its peculiar province to do.