Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1873-01-18
AN EARLY ADJOURNMENT PROrosED-TnE
usuRY LAM-NO RELIEF PRoRABLE.

N0AhA La h-N1 fhbhAnAfs
DOVER, January 15.-A joint resolution
was introduced in the House to-day for an
adjournment sine de Of the Assembly on
Friday, February 9TH Doubtless all tue
business that will come before the Lcgis
lature could be transacted by the time
specified in the resolution for adjourn
ment, but it would verge upon madness
for an instant TO think that the session
will end inside of two months. The rcso-
luton, however, may pass, for several
members think IL would have Il tendency
to hurry up those who have business they
desire to bring before the Legislature but
after this end should be attained the
measure would he reconsidered and the
session extended to March.
The usury law, which has been defined
\ by some one as public Interference with
the private business affairs of private par
ties, is, am afraid, destined in this State
to enjoy longer life than that allotted To
most monsters Of Il like character. The
Sussex delegation in the House will, doubt
less, vote solidly against the slightest mod
ihcation of the law. So far as one or two
of the gentlemen from that county are
personally concerned, they rather favor
some change in the usury law, but their
constituents cry out against any inter
ference with the enactment which saws
you shall not pay more than six per ccut.
for the money you require to conduct you
business" and they feel bound to respect
the wishes and desires of the people whom
they represent,
Kent's representatives will probably vote
sOlidly against any alteration of the law,
and, indeed, one or two of the gentlemen
from New Castle county, find, will 20 no
further than to modify it to the extent of
limiting the forfeiture to the amount Of
the excess over six per cent. This would
be the entering wedge for the total abolish
ment of the usury law could it be passed,
but, as Hamlet says, there's the rub"
Senator Riddle,tO morrow, will introduce
bill entitled An act in relation Ia
usury," which provides for the forfeiture
of the excess only, The Senator of course,
If he thought there was the shadow of a
chance for success, would father and fghI
for a more sweeping bill, but the fact 4.
Mr.. r. agrees with your correspondent
that there Is no possible chance Of getting
this much eyon. The question is one OF
, so much Importance and intnrt st have
obtained the full text Of the bill referred
to, which is as follows -
Section If any person shall directly
or indirectly take for the loan or use oil
money more than six dollars for the use
of one hundred dollars, Tor one year, anr
in that proportion, he shall forfeit and
4 pay to the borrower who will sue for til,
! same, sum equal to the excess Of inter
est taken for the use or loan of none,
over and above the said rate Of six Del
centum per HnLum.
"sec, 2.-That all laws and parts Of
laws of this State INCONSISTENT with TIA,
n provisions OF this act are hereby repealed
- made null and void"
As another evidence of the feeling OF
the part of members of tho Assembl,
regarding usurious rates of interest,
u may mention that the bill amending IN
act Incorporating the Diamond State lrol
Company was reported from the Commit
q tee on interpretations in the Senate to-day
s and the rate of interest which the com
pany proposed TO pay for the amount O
increased capital II desires, was cut dow
from TO = per cent. by an amendmen
substituted. The company proposes L
Increase their capital from S300.UOO L
Sl,0O0,0OO
le MIR. Riddle succeeded in having the fiji,
Is Their consideration Of the bill postponed a
=. present and will try to retain and leguliz
u the tate of interest the company is willin
l. to pay for the use of the Increased capits
10 1t wishes.
lie The act incorporating the Maryland
Delaware Ship Canal Company will mos
Dr probably become law. Gen Tlghma
and Mr.. Smith, the latter counsel for tll
&c company, are here looking after the in
G. terests Of the new company, and at Dime
to-day at the Capital Hotel legislators an
Sc reporters discussed the merits of the entel
prise over sparkling champagne, wbic
had been furnished by Gen. Tilghmau VIII
he chose this mode of tending the compl
III ments of those interested In this giganti
at enterprise.
lis Ex-Alderman Vincent Is also here. n,
" only enjoying himself, but attending /
: business. He wishes the State To sul
K scribe to number of the copies of n
IL history OF Delaware, and will be successfl
It, In his mission, as all seem to reeopni,
10. the necessity OF encouraging one engnpf
DIS In so laudable an undertaking rs t6nt ,
ul getting material for aud putting in shar
or u readable history of our Commonwealt
d: W. S. P.
Or PROSPECT or NEW BUILDINGS ION I'm
vet STATE, AND POSSIBILITY OF rur,
a BEING LOCATED IN wILMINeToN.
a DOVER, January l6th.-I have alread
spoken OF the question of an early a,
tournament of the Legislature. on3 II
,nu action oil the House to-day will tend
~ eonhrm what | predicted in a form
IL, letter, when | stated that there does =, ~,
lei exist the remotest chance of The Assent
10 acquiring 10y before the last Of February.