Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1876-08-05
debtor by any other system extant re-

afizes-s"terest upon The money a0sth
aUhich he Aquidates his indebtedness.
If, however, Mr.. Robb had been de-
barred in whole or in part of his Just
credits in the division at the semi
annual periods set for the purpose,
the Judges declarations Of illegally
and usury are not strong enough. A
system of this character, it is easy to
see, may be justly designated as open
robbery. So patent is this view that
in every instance where the want of
mutual and equal participation has
been made apparent, the case has gone
against the association. In the case of
Ridgway Us. The Baltimore Permanent
Building and Land Society last year,
Judge Brown declared against the So
ciety because by some arrangement
evasive of the law
Ridgway was subject ed to all the burdens
incident to membership but was entitled to
none Of its benefits.
A similar decision was rendered by
the Court of Appeals in 1869 in case
of the same society Us. Taylor.
On the other hand, we have not
heard of case in which the mutual
plan has been distinctly set forth as
adopted and pursued, that has gone
adversely, until Judge Pearre led the
van with his opinion. And in this it
is evident the Queen City Perpetual
was derelict in properly presenting its
plan, or the Judge declined weighing
it against the sometimes too ponderous
conception of what is usury. In either
event somebody is unfortunate.
After all, it is impossible for US to
look at this from legal standpoints.
We view it from the basis of fact-aa-
deniable fact-from the legitimate con-
sideration that building associations
en- masse have not proven to be the
one-sided institutions that one-sided
judicial opinions make them pertorce
of tiny technicalities. We know them
to be separate and apart in the gener-
al business of shaving" in that they
divide the ''shavings' with the bor-
rover, and divide them fairly:
The barber shayes with polished blade,
The mercer shaves when ladies trade,
The broker shaves fifteen per cent,
The landlord shaves bv raising rent,
The doctor shaves in draughts and pills,
The tapster shaves in pints and gills,
The printer shaves with type and press,
The paperer shaves with gorgeousness,
The farmer shaves in hay and oats,
The banker shaves in his own notes,
The lawyer shaves both friends and foes,
The pedler shaves where'er he goes,
The willy merchant shaves his brother,
The people, all, shave one another
With due respect for the fine inten
tentions and legal ability of our dis
tinguished jurist, we humbly believe
he has overshot the mark no less Ger.
tainly than in the remarkable opinion
delivered some time ago which practi
cally assigned railroad tickets to spe'
cies Of personal property an individual
may own without the right to convey
Judgment so extraordinary that the
railroad in whose favor it was given
is ashamed to avail itself OF the benefit
If the present opinion holds no better
building associations may proceed
without interruption terrorized stock
holders may recover their equanimity
. and outside sympathizers cease theil
tender solicitude. If the Judge il
correct, then all building associations
are illegal, because, according to hi
logic, all are measurably usurious, il
spite of protective laws and charters
And, notwithstanding the facts, al
talk of their beneficiary character il
idle twaddle. We are bound to &C
cept the dlctun that every superstruc
ture reared, whether of homes or o
business for the people through theil
agency and encouragement, is the di
rect fruit of fraud-that the innumera
bic and unreasonable benefits conferred
upon poor people are the fantastic
outgrowths of the prettiest system o
corruption ever devised to fool then
into the possession of houses and lands
If this IS correct construction of law
the sooner the legislature stops tin
kering with the slippery question O
usury, the better.
OUR CORRESPONDENCE.
A. n