Middletown transcript., 1873-02-22
inca, merchant Of Petersburg. Virginia.


in writing TO his friend. few weeks since.
says: II, is perfectly legitimate here. and
also right. to get IL per cent. for money,
&c. The Georgia Senate not moro than
fnrinigh, since p,ssed bill to repeal
the Usury laws. II fixes the rate Of iu-
,ercst only in the absence Of an agree
ment. A similar measure is pending in
the Ohio Legislature Modification OF
this sort" says the Baltimore Sun. lis
the tending Of enlightened legislation. and
rs our States come to adopt it. without
federal interference, or indirect coercion.
each for itself a sound principle will be
yindicatcd.
With ono more quotation, and that from
a Wilmington Daily Newspaper. the
Evening Nrs." mus, bring this long
and unfinished production of mine to a
close.
A writer who signs himself "ARrisAS,
places the subject in a light not though.
Of, it may be. by some, bu, one that COM
mands attention from grave legislators.
anl thoughtful men Of every shade Of re-
ligious and political opinion. This writer
pcrtiuen,ly says, The question to be set
tied now, in our opinion. is not, l. the
rate Of interes, too high, or too low? We
think il should be, Is the present Law
prcjuiicial to the public good. or other
wise:' We are not to place dollar and
cont value upon the public morals, and
in thinking upon this question, We have
sought to know what may be the effect
produced upon them. under this usury
law. Every good citizen is presumed 20
obey the law Of this State. but how far
eau we suppose this TO be the case in this
matter! Can money be borrowed here
for the legal n,eres, ? Is it not perfectly
well known that interest instead Of being
a, al rates. is more nearly doubled ::
And does not this violation Of known
statutes fix upon those who do bushes,
involving transactions - this nature n
stigma Of dish nor Aud if. as We are
lal /, believe, the violation Of the law is
Tie yuie and tie keoping the exception,
the state is training men in the art Of
eyalng her statutes. and the principle
carried out would bring anarchy aud ruin
lh, uat. ,sity ir violating or cyadng the
law + only clualcd in evil effect by the
mean, provided 70 prevent such evasions
/ lh man ssh an u hi, honor flr the
amount II his ohliga'i5us and involve his
fellow ii la,s, under plea Of u,ury. any
m.fet l trusted n god citizen, than
hr uau wiz rl.ts q violation Of law for
.alut We iaiuk ug;
4 dsel l.aI rue # interest, acts not
h rHesyut higher. but lower rate
Ihe question i, tot, vi want, money At
+ legal rates. but aho will pay the highest
pi,ui4m iar Ian. AMI a bonus i tut a
.iy.ian Of interest Hence. the borrower
i,u5; benefited II hi, necessity forces
him = borrow at rh, market rates. fixed
by supply aud demand aided {, which is
lAt le.Il = per cent, aar state laW sets q
pr;se upon his honor, anil tcmpts rupidi-
N aal ayarjrc to the sale Such law,
trulg drl5al themselves. they create lask
Il respect fr al law and the honor
comes to be- MT in the keeping. but iu
,hg evasion. anl gain in ihe escape Il
penalties Thase wh1 are not ready q
set dollar aud e,ut value upon public
haang and morals, wish oar laws To bl
prcyen,liises Il wrong doing. r1thcr than
incentives t., aal even whrsr powers L
camftl our ieppie "a wrong, whose fruit
az /, .uIitriug 10 those who are most DC,
teul y, upon wise anil liberal laws and {
ijrh standard Of public honor for prptec
,.un a0l encouragement brains. capacity
talsut. industry call it what yon viii
eou aycrcamn any aud every difficulty ha
tAa.s II oppression and di,honar; then
r., as have laws that d. not oppress. 10
vet tfmrf q Iish1uar
W97l, thea that are lifly aul brayel,
,rolau although know ~; who j., III
author of thon Trey speak the tra
thoughts u tn, MN aud sound mor
ali.f. arl deserve ,o be ponlsrel by ou
nW nak rs who 10 not, except in som
few localities, reflect tho wishrs Of ih
people whose servants they are, and who
ifth fail to d honest duty in this mat
trr will make them f. the result a, lh
balla, box and see it in the continued dc
cline Of the nriyty Of business Of til
Diamond State
Tie eutjrr, IS by no means exhausted
but your patience, fear may be, and m
tine Icing out.
remain very truly yours.
OARS.