The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-02-27
The Interest Question.

The Interest Question.
This question is bobbing about amongst
enc coating orders Of the House Of Delegates,
ard viii, Of course be caught UP and exam
ined II we can consider question examined
that more than probably will be decided by
,orcyonc conclusions arrived at through pre-
;,a;ce and errors to which people have been
long welded. Still, we know whenever the
spbircted is considered, even partially, thefe
IL something gained to truth and practical
wisdom.
7, Is impossible for the State to regulate
th. r..c Of interest. That can no more bt
done than can prizes be fixed for the neces
s,rIcs O. life. Money Is acquired by the same
lsbors apd cNertions that accumulate othe
kinds 0. property, and the holder OF none.
is IS much entitled to gain in the Use OF it
the holder II any other property is entitled
70 beaca, f.sm Its enhancement i'll value g
from the iuiicious disposal Of 1t. And, Tx
the product CT any kind Of labor, Justic
demands taat money shall bring to its holde
whatever advantage the demand Tor IL ma!
give him.
If the laws E,il to put the moncy-ho'del
upon tho same footing as to his rights tha
the holders of other property stand on, ther
in this highly com nercial land, the right Q
equality will come to him in spite of law.
Any law that is passed to shackle and re-
strain the moaey-holder will fail OF It's
avowcd object, and 1t will result i'll lr)uring
that par, OF the community which wants
money. 1t will lnjure seriously that part OF
the community which hopes by the aid Of
other mems money to utilize their own tact,
skill, and energy to their own seneht, ano
also that OF the community. This is one OF
the most valuable classes Of society. 1t Is
composed of the rising and ambitious men,
who are stimulated by necessity to work
ard 20 employ their talents and enterprise to
the best advantage. They add more to the
common wealth than any other class. They
make available the means Of the wealthy and
retired citizen, which would lie idle and fail
to accumulate wealth but for their industry
and enterprise. They ultimately grow rich
ana become money.lenders, and are sue
eeeded By another generation Of energetic
poor men, W no use their capital in turn
and this round of succession continues with
cut interruption.
New, u<ury law that attaches penalties
fer lending or borrowing at any rate above
Fixed sum grinds this class of neceSsitous
and energetic men to the dust. 1t shackles
and cripples them and ruins many, thus
ding vast injury to the community and
greatly limiting the increase Of the general
comfort. prosperity, and wealth. AS we
have often shown, the limit Of the rate OF in
terest involves all who pay more in extra
charges for odum, increased peril, and means
10 preserve the secresy Of TRANSACTIONS.
+, may be answered that all this is right
shat neil who pay more than the law allows
ought to suffer. Is that stateSman's view:
Is il consistent with humanity? Men are
lett to pay anything for bread, or meat, or any
necessary of life ; but the moment they pay
a cent more in the hundred for the use OF
money that enables them to buy these neces.
ssries CT TO carry on their trades, BY which
they I've and feed and educate their children,
they must be put under the ban, and they
who lend thcm money must be punished
severely for doing 80.
We eanno. but look upon this restriction
in the nee Of money as a prohibition OF In.
dustry--aR iuterdiction against business-a
doom, If hot to starvation, at least 70 de-
.pair. Poor and enterprising young men
are forced to abandon their schemes, give up
their business, and returning to the round
oil day -luborers, pass away their lives in OBJ
seuEiiy, when they have talents and Industry
w3ica. properly employed, would elevate
TEN - extensive usefulness and personal
-,Jti-l1 tune.
Wi'y is it that we should at this day pur-
vi: policy that can do no good, ana tnat
luI-; ;>eep down in obscurity great Zeal OF
d., tlcns and skill of the country! Why is
i. la, men are considered capable OF man'
a.ti, al their affairs, of buying and sellins'
aii,i nlaking contracts in regard 10 every
thing but money! What is there III tna'
Whicn distinguishes 1t from all olner pro.
scrty; and what is there in it that makes all
who IRE considered capablein all things else
non compos nsenas as soon as they come to
handle or deal in 1t
Nothing. Money is acquired by the same
labor Of head or hard that acquires other
property, and the laws that make difference
in the rights Of men in the use and DISPOSE
lion of money and other kinds of property
are faIIacious, and are in practice seriously
injurious to the communities where such
laws prevail.
W" trust that the sui ject will be at least
well aud thoroughly discussed in the Legis
lature, whatever may be the character of the
dnal action Of the body. Something will be
gained by discussion.
Local Freights.
On tho subject Of the discriminating ia
riffs, 80 disastrous to local traffic on man.