The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-04-12

name. the remains Of the product Of Ia.
ho oi. nncongumed, II Il is not saved in good
years 'e how can It be saved or spent In bad
sir. Norton asks to be told ION what
principal Of right any person should levy
this tax. c. interest-on society" Thu
seems singular question. II Mr.. N,
does not think such a right exists why
does he propose to allow society TO be un.
Justly taxed even as much Us A per cent
II he thinks it is right up TO 4 per cent
and wrong above that rate, will he ex'
plain his rule 70 that our law maker
NAV become wise also. They have been
seeking such a rule, but from the differ
ent resultants do not seem TO have sue.
cecdcd. We have about forty legal in
terest making powers in this government
and ns the present result OF their search
in this line have six different rates Of In
terest, some as low as 8 per cent, some as
nigh as "a per cent, some without limit
The rates can be changed under as many
as eight different contingencies. "Rigor.
Gus penalties" to the number OF twelve
have. been devised, embracing refusal &c
collect over the law rate and fine and i'm.
prisonment. Surely in this latter state
interest must be low and reg
ular. Singular enough such results
have not followed. Money has
been worth as high as 100 per cent pei
annum, and people have been fount
willing TO lend It at the price; and Al
other times within few months money
would only bring q per cent per annum
and men would lend il at that price
Still more singular, the society designed
to be protected by these laws scorn man
who seeks their interference. Another
suggestive fact il, that the State now
growing fastest in wealth and population
and whose labor is best paid, permits in
terest under contract without limit
Slowly but surely the world has adj
vanced from enforcing with rigorous
penalties" laws which fixed the price Of
money, Of corn, and the cut Of boot toes
Which fixed the price at which mer
should labor, and at which storekeepert
should sell provisions; and which fixed
the material for grave clothes, and pun
ished the expectation Of goods with
death. The belief that liberty il
the true law to govern such trans
actions yearly gains ground. The
idea that "every man should be free TO dt
MS he pleases with his own, providing he
does not interfere with other men doing
as they please with their own" gaini
more believers. II man has money he
has right to offer TO loan, or not to offer
as may suit him. All other men have a
right TO offer for il as much or as little as
they choose, Each man must decide
whether borrower is safe or not, and
being the most interested will on the aver.
age be the best judge. Each man must
decide for himself how much interest he
is willing to pay for other people,:
money. II he can see his way clear to
make profit sufficient to pay the inter-
eat aud leave enough remaining &c
compensate himself for risk and
trouble, he will do so. II not, not,
II capital is abundant and Dor
rowers few he can procure loans cheap
II the reverse is the state OF the case, he
must pay more. "No man." says Mr.
Norton, "has any business to loan money
to nm unsafe borrower" This does no,
look like living in a free country, but
granting lis true, who is TO decide be-
tween the safe and tho unsafe2 Does he
know anything that is absolutely safe,
free from all contingencies? Lending
money on speculative ventures is one Of
the greatest evils OF the day" Perhaps
so, but can anything be done without more
or less Of risk? a venture which seems
wild to one man seems safe and desirable
to another, and is there any way to decide
save that each man choose for himself
and abide the consequence.
INQUIRER.