The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1874-02-26
From sEatrisnnrg.
HARRISEURG. Feb 81

4. l6,l
The week of Legislature is closing with o.,-
three days' work for the House. and two Sa'y
for the Senate The latter body being ,ba!!ss
of the House in its work, adjourned over Gu ,,e]
terday until next Monday evening. Tba -
cipal business transacted in the Senate ~
putting the Judicial apportionment b;n
through to third reading. In the Housa -
greater part of the time has been consumed ;E
speech making on the usury repeal bill al
making the legal rate of interest 7 per cer.Tro
This is an important subject and excites ca-
siderable attention and discussion I 10 -.
pretend to understand enough about fo.ros-
rates of interest, &c, to enable me to arrive =.
any definate conclusion Is to the wisdon ~
the proposed act. Two reasons, however Ie.s
me to doubt the expediency of the bill. Tbs
one is the fact that the financial and grncraI
prosperity Of Pennsylvania com pares favorsbi,
with any other State in the Union, and nn;
withstanding our six per cent interest L.
there has always been an abundance of cani,,,
at hand to develop the wonderful resources :;
this great State.
Another reason why | feel inclined :.
doubt the wisdom Of the proposed bin is ho
evident fact that all or nearly all the bsnE.
and bankers favor the bill, which looks as e
they, who best understand the subject, oxpec,,5
to draw vet more severely upon the rtsJprca,
of those compelled to borrow mOlev fror'
time to time Banks are unqucstionabIy
great convenience and q commercial neccsIi,y
but have we not too much Of the shawn,
business and not enough Of the fair and nece.e
sary loan system upon good security and At
such rates as viii enable mechanics and trader.
to live and prosper. In some OF our town.
nearly all the money passes through the miner
ous shave-shops and goes 10 the larger ones in
IL ..f FYl
speculative channels.
But, am forgetting myself as it Is nv Drr-
pose only to give you r few leading item. oi
news. 4 considerable sensation was created
here yesterday by the discovery of a very
cunninglv concocted scheme to lew bIack,nai
on the banks Of the State. The facts a. far =,
known are as follows: The bankers Of Hgr-
risburg issued a circular 10 different bank;
throughout the State, strongly urging supro-,
of the usury repeal bill referred to. Some
sharpers it seems. got hold Of this circular and
had number Of additional copies printed. AMI
also in connection with i a circular signed by
the assumed name Of L. II. Gibbons" levin,
Il tax upon each bank according TO amount Of
capital for the purpose Of working the bill
through the Legislature, and this bogus crcu-
lar, wish the genuine one that was Issued by
the Harrisburg bankers, was well calculated
y
being apparently an endorsement: of the
svindler. 1t is also positively asserted tina:
quite Z number Of hanks have been duped by
this trick, by forwarding the amounts of their
"asseSs sTents," TO Gibbons" VARYING from $50
10 $3.50, each.
And the most interesting part of the brs
ness is that il is almost TO a certainty known
that the Gibbons" circular is the work or
scheme of member of the House Of Repre-
qcntatiyes The whole subject Is now in the
hands of a committee Of investigation, and We
shall know more about it in a few DAYS
The indications are that the present session
will be long oue-cxtending As far a. the
first Of May, and possibly yet longer. The
machinery of legislation runs very SLOWLY.
though surely, and at the present rate Of work
ing-considering the fact that We are nearlyM
the close of the second month. and that all
private and special bills can only be intro
duced after they shall have been advertised
thirty days, and that the first ones canno.
reach the Legislature before the middle a
next month, rs the bill providing the manner
Of advertising only became law about week
ago considering all these DELAYS and cuns.i.u-
tional checks against undue haste II seems
barely possible that the Legislature can al
journ Jcfore the first OF May next. And there
are vet number Of very important public
bills to be disposed 0s-thc general apugogril-
ton the bills relating to corporations, munich
palities, taxation Legislative SALARIES. 81.
| see by your paper that Prof Wjcke-sham
is going TO address your people on TIE subject
Of Normal School. In This connection it NAV
be proper to state that being Intimately
quainted with that gentleman and having had
incidentally 4 conversation with him ON thai:
subject, l was pleased to learn from him ;ha,
his Judgment is decidedly for your very de-
lightful locality rs one Of the very hest in the
State for such an important institution 81
your people need do is to guard against aDr
disagreement among themselves In regard 20
this or that particular locality, and res. assured
that il makes no very great Offence wheth,r
the building Is put up in this or that part q
the same town. Il can only stand on one sra,
and if it goes 10 any part Of Strcudsbu,g the
town and lis people will al share largely in
lis benefits. Mr. kistier, yOur member i
warm friend Of the enterprise, and as ! learn
from Mr.. WickerSham, he strongly ad,ocat'
it in the school department..
| intended 10 refer To few more matters o
which your readers might feel interested b.,,
fear am crowding upon your space. / will
only add that local option Is receiving con-
siderable attention. Petitions for and agaias
repeal are coming in daily, from various part,
of the State. For & while il was coaSlaer4
almost certain that repeal would carry. u. It
is not quite 50 certain now. as the -emr I
stranccs are gradually becoming more u9ma
Gus. would say, Just now that chances Of /
repeal or no repeal are about even. As tr& /
the committee of the House is concerned. r.
peal has the inside track and il j. claimed /
also that the Senate committee is the SINE
way. If so, the friends Of repeal have m r-
portant advantage. X
\ young Michigander named Fros'J'
came, enaRored Of Mrs Harvey sb1H
time ago, and the other night shot The