The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1874-09-18
TO THE VOTERS OF McMINN
COUNTY.


FELIow-CITIZENs: Having announced
myself as candidate TO represent YOU
| in the lower house of the next General
Assembly. and soliciting your suflrages,
IL Is right and expedieut that should
give YOU my views. briefly, upon some
of the more prominent questions likely
10 be acted upon during the session.
THE TEN PER CENT LAW.
I am opposed TO :he ten per cent. in
terest for several reasons-one Of which
is. il will reduce the price of land and
! impoverish any country that trades and
borrows money ut ten per cent: for IL q
trader borrows money at ten per cent.
he is compelled 10 make the ten per
cent. off the people. The farmer must
lose il. II the trader loses II he is
broke; II the farmer loses IL he is iu-
jurcd. Ten per cert money at high in
terest will give the mar OF large capital
The advantage Of men Of small capital,
for the man OF large capital will own
the best lands in the country, and
can afford 10 pay high interest, when
man who owns the poor lands cannot
pay high interest. Now, there Is CAPT.
ial and labor. Capital il the result Of
labor, but labor Is not the result of CAPT
ltal. Capital cannot exist without labor.
Capital should be invested in the way
lit would employ the most labor. Ii will
employ the most labor in manufacture
ing and farming, and the law ought 10
be so rs to protect that kind Of capital.
High interest will depress il, while low
interest will encourage it.
1t is argued that money will seek the
best investment. admit il. and that Is
the very reason am for low interest
Low interest will improve n country !:
high interest will impoverish il, would
favor the government makinga uniform
currency. and putting down the interest
and making il equal all over the United
States, and when money IS loaned at a
higher rate Than the law recognizes, eli.
Their directly or indirectly, the parties
leaning should forfeit the amount loan
ed. Then money would seek the best
investment, which would be in manu-
featuring and farming, that would give
employment TO all classes, and be the
best protection to manufactures. Low
interest and labor made England rich.
while the gold of Peru impoverished
Spain. and the rich silver and gold mines
of Peru impoverished both her and
Spain, and they are both today the poor
est countries in the world, while low in.
teresl aud labor have made England rich
powerful and great Now, If labor and
low interest made England rich, the
same causes will produce the same re-
suits here. IL our manufactures were
encouraged by the government making
a low and uniform rate OF interest, we
could compete in every market of the
world with our manufactured articles,
and would be regarded as The workshop
of the world. This would be better pro-
lection to manufactures than tariff, for
If we lay tariff 10 protect our capital.
lists against the large capitalists of Eng.
land because they are under way, the
same argument will apply To our small
capitalists here against the large capital
lists here Goods made with low inter
est and labor would compete in any mar
ket in the world; If made here with n
high protective tariff aud high interest,
we could only sell in the home market
Ii is argued that If interest was low
money would leave the country Then
they argue that high interest will bring
money into the country, and then com
petition in money will reduce the price
Of money. Then won ii leave again |!
So Won see nothing will keep money in
country but labor. 1t is argued that
money will be loaned at high interest
no matter what kind Of laws you pass
now. know that is not so, for before
the ten per cent. law was passed money
was loaned at the lawful interest. |
was in the Legislature when il was
passed, and it done the very thing !
said Il would do: raise all the debts in
the country ten per cent, and all the bu-
siness transactions 10 ten per cent. II is
argued it will bring capital into the
country 10 develop the resources. Now,
it looks to me If you could make man
believe he could make money by pay
ing at ten per cent for such an invest
ment---to develop the resources-don't
you think 1t would be easy to induce
capital TO come here in search of invest
ment where such rich reward awaits
liz? Ten per cent would be good pro.
fit without anything over. If yOu can
make the capitalist believe be can make
six per cent on all his capital, you will
soon have plenty OF it in the country to
develop all the resources, simply be-
cause it would be q better business than
any other. Again, il Is argued that we
want money in the South to raise cot
ton. High interest has ruined the cot
ton lands Of the South. To make mo-
ncy before the war TO buy negroes, and
since the war paving high interest until
tho best lands are worn out and thrown
away. With low interest the best in
vestment now would be in improving
those lands, thus increasing their value
and making the country rich. The
South is the best country in the world
it has the best climate; cotton Is mo-
nopoly, and il we had low interest and
would improve our lands and engage
largely in manufacturing, the South
would soon be the garden spot of the
United Statos--ihe impoverished fields
disappear, and the waste places again
be made glad with the blooms of the
great staple.