The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1875-08-19
rHr .sORBING POWER OF RTER.
ES- AOMEY, OR EVERY NAN
HIS OWN ACTUARY
BY JOHN G. DREW.

HIS OWN ACTUARY. iis'
BY JOHN G. DREW. IN.
This theme has been perhaps more
fully discussed, and through longer
periods, than perhaps any other now
before the people, and the objective
point of evolution that is, it being
granted that money being an indispen-
sable factor in production and ex-
change thereof, what compensation is
it entitled to as contrasted with capi-
tai and labor-seems a. distant and as
obscure as ever.
In Hebrew .theocracy, when the
church was the state, Moses, as the
direct moathpiecet of the Almighty,
most anequivocalIy prohibited taking
interest on money or merchandise
from the j ews, and as especially per-
.mitted it from all outsiders. s,.l. .!ieg
~ This, from "a national standpoint,
was shrewd statesmaaship, though not
as clearly demonstrated then mathe-
natically as it now ia that by usuary
the lender, whether as an; individual
or nation-with interest more Gu
mulative than .prod,ctionrwas sure,
to absorb the borrower, it WAS asI
clearly discerned, perhaps, asws say,
sin the bones." 4g.,E,. h.a .,,-., al, 1
81 Ages after, when the work of ua.re-
construction of the ruined, walls, rsf
Jerusalem was in progress, perhaps
from the rayages of WaE perhaps forl
assessments. for aimprovements, GER
tainly to pay high taxes, an, earnest
cry of distress from the people came
to Nehemiah, (see Chapter, W COM
planning that they had been forced, TO
mortgage their homes. for food, so
fearful were, their .exigencies,, and
others had incurred the same ,liaiI
sbilities to pay their taxes, then term
ed "the kings tribute" -, ,.ui 80.
:. Another class (perhaps those. who
had no house and lands) complained
that they had been forced te send
away from home their :. sons, and
daughters to earn the required means, 1
and The, condition of things sb9Xed
ne. prospect Of .alleyistiog, aAs othsse |
oppressions came from. .theiriswn fel- i
citizens, in utter disregard of the
spirit and letter of the Mosaic teach
ings, the grand old patriarch Mas, e1-
asperated, as he says, Chap. ", verse |
6, II was very angry when | heard
their cry and these, words" a.. ,ts,.,. /
But unlike many of our present ,ag
itators, who would have simply held
mass meetings and "cussed" things
generally, he went straight to- the
"rulers and nobles," as he called them,
with scathing sarcasm never SIR
passed, he showed to them the miser-
able inconsistency of freeing their
cOuntrymen from slavery to the. for
eigner, only to reinstitute the same to
their own neighbors by the more in
siduous but not less deadly means of
usurious interest. :....t
And having pointed to them the
Inconsistency of their prac-
tices as contrasted with their precepts
in the eyes of other nations, which
was especially sensitive point with
the Jews, deeming themselves Gas we
do ourselvcs) the very pattern of ex-
cellence. he waited for response.
AS no one "put in a rejoinder," he
put the question thus Doth /
81 pray you let US leave Off
this usury."
Apparently without a dissenting ,
voice the motion was carried in the
Affirmative, when Nehemiah swore in
the priests, that the spirit and letter of
the law should be observed. Ca.
And that no element of. earnestness
and solemnity should be wanting, the
grand old functionary said (verse 13):
Sand l shook nay lap (probablN his
apron). "and said, So God shake. out
every man from his, ,aaber that per-
not his promise, even thus be
he shaken out and empticd." -, ,
After the customary religious exer-
cises the meeting adjourned, and the
reports that the obligations
then entered into we're faithfully com.
Piled with.
Nehemiah included in the above de.
fined concession the restoration of the
forfeited real estate, "also the. hun
lrefty part Il per cent? Of the money
The corn, the wine, and the oil.,"''
Commentators think that the i, per
,ent. adverted to-; was the ,mopthly
rate, say II per cent. per year. payable
Sin kind" .., ....l,..g. ~. ]
Adam Smith tells ms that Brntus,
"the noblest Roman Of them ALL" lent
money in the first century before the
btrth of Christ, in Cyprus, at IS per .
cent. per year; but under Alexander
Severus, A. D. $50, tho rate at Rome
was fixed by statute at per cent In
Athens the rate wavered from 10 to
30 per cent.
Both Catholics andProtestants seem
to have united in com batting the priin- l,riii
ciple'of usury, as no Christians until
the fifteenth century were allowed to
receive interest. The Protestant re-
publicans of England under Cromwell
reduced the rate at s per cent. This
N orked so well that under
Queen Anne (l7I4) the rate was reduc-
ed to B per cent. sLot1iloa syr r-aai
The range in Great Britain of actual
rates, as indicated by the price at con-
soils, from 173I. to 1851 has been from
21s to 5 per cent, with occasional os-
Citations, say April %, 1852, to.2 per
cent. and November 9th to 10th 1857
to 10 per cent, which is there deemed
the panic point.
From 1856 TO the present time the