The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1874-10-22
An UsUKY Law.

Our readers viii excuse Us for again dis
cussing an usury Law. The importaics OF
the measure and the public necessity de
mand it. The articles in the STATESMAN
have already called the attention Of the
press Of the State to its importance, and
We have been favored with several well.
written articles upon the subject. It is one
which can not be disposed Of in few short
articles; and as space is valuable, it is
deemed the better plan to make the articles
short and frequent, so that other subjects
may not be neglected. . asgo sal ~ +
There are but two papers in the State
now, since the suspension Of the jefferson
Democrat, that we are aware Of, which OPP
pose an usury law. One of these, the
Houston Telegraph, has favored US with
two articles, which we propose to reply to.
At the very outset, the Telegraph refers
to one Of the important facts connected with
the question, and then totally ignores its
existence. We are disposed to give that
paper the benefit Of its reasoning, and Gull
such extracts as win give the gist of its
arguments. Here is extract No.
The great difficulty which most men ex-
perience in permitting money to take its
chances as TO value with other articles in
the market, lies in an underlined and an I'M
dehnable idea that it differs essentially from
ali other representatives of value. II it can
be shown IN what respect that difference ex-
lists and that It Is such as viii justify class
leglslation IN regard to Il, the question as
tothe policy or propriety Of anuspry law can
De easily disposed Of. ie.3nss.
We accept the proposition and shah pro
coed to show that money does differ essss-
tally in very important particulars, from
osher property, and that the necessity, for
"a usuTy law arises from sucA di9sponcss., II,
then we can make plain the dissimilarity Of
moneys, nom other property, or represehta3
lives Of value, the Telegraph win be bound
70 e0ncede the propristy and neces-
sity q ienacting Law which win
prevent the evils which result from
extorticnaie rates OF interest (or, Il that
word Is oiEensive, let It be called high rates}.
No one win deny that money Is property as
well As cotton, corn, wheat, cattle. lands
and tenements. Il can be acquired, and
complete ownership exercised over il. A
man may bequeath millions Of dollars to in
dividuals. or to institutions Of learning.
He canalsO bequeath houses and lands, aud
Direct as condition precedent to posses
sion and enjoyment that they shall be
altered and divided according to given in
structionA or sold and their proceeds APP
piled to any purpose So far the power to
possess and dispose Of is identical, but not
the right to alter for the purpose Of being
used for specific purposes. A house may
b partly pulled down and rebuilt accord
ing 70 more approved plan, or IL may. be
totally torn to pieces and the material used
b building other ediRces. But man can
not change or alter money Tor use without
becoming liable 70 penalty, which the Law
win inlict upon proof Of such alteration.
he cannot, with impurity, convert one dol
lar into two, o. two into twenty, Qrtwehty
into two hundred, without being guilty Of
forgery and eounterf itne. WAyQ Be-
cause the law has fixed its value. ana 10
private person dare change L. Wkysah ii
not Be ohangedl Because Il i specifc
representative Of value issued hy the law
making power, and intended q circulating
medium between the cihzens Of tie STATE
and in commercial hansatrions. II one
man conla altar &. rifAont Iishilifr- nnother