The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1877-05-24
2 USURY LAWS.

whom, from Adam Smith down to the
present, condemn usury laws as unjust.
unwise and inexpedient., The opinions
Of such; men-men who; sought truth
without regard to whether this or that
view. of a question would be popular OF
unpopular7are certainly entitled to our
consideration. y. 9 ,y
:. Mr.. ,Wayland says : ssI believe all en-
actments establishing a legal rate of in
tefest reainjufious and unwise. The
only enactment Of any value would BE
one which should define. the, usual rate
when nothing was said about it in the
contract. Tiesuse ofithis would be to
prevent disputes. Some Of the reasons
for this opinion are the following: '.lil .5ll1
sss1sta Such laws violate the rightvoi
property. Dr s1tsir1aA %; : ;''aa =
.slsa2nd The reaFp pfiesof capital canno,
be fxed by law any more than the real
price Of -four, OF iron; orapy! other COM
modity. There is; therefore, no more
reason for assigning ita fixed value than
enslss alsess, to1 asslgalns nfeu ta,us1fs
!sa o.ne, ms Sennoulsy, - iE'2.s -Eu = :, !
more variable than, that of any other
Commodity. Most other commodities
se1Das eAs n ..A. :.
,useoIpl0ne, ., 0a' .ap''sl " sue .ol.n -
soasS & i,ay,e = t%y M 90 $3.50 = 9. y - a;as1 ass
w s.sa u ss.Sa... sss: - go :
-. - u!Ae.sas ss a:' :.
..ia .S cua.e, ae, CIV ~ .sa. a..' !. 80 - :, :,
suess.ols' .sss .essoa Wy .. ,..,, sne i, .Se ~
ltyHs snos ~ aAse ~. ~ -" so,.,S . :" :,
~ p1''o y - ,sUtns - s'i'' 'noo D'e'
% 5. as.,s.p ~, i,s.. ;,,s.a,
:; :, I ~ = s,saat snaS;ssstrops auatmas
80 49, -
CO., ,,o,. - : ,,,,:,, ,no.t1,
: :, ,aaa..;s;s,Iss Ss n,,ssS;,;ss.
.ss.sS. IS. .o.t22g;sI 90
~ i1,;ii % sonn Ios 9 .s ~,
rlan + s, hns;,,ass, Ia, n;sss.sss 1,,oro ur
pfhsss,, !, ,s;.ha,;s7,oi,;sa s Tbo-s ma;l,o,ba,,
49, ss;s :, ,stih a,as.ls i
s.. s. q ~ sssi3 s, Il - - = Z,
: 10 arJ;nsrn onarat;ons -, h,,o;nas.
4..I;.ai3 ;.s,,a..,,,, 4,,.,t,, "a. aa;,,,', re-
- . M s., .s1n.ess.Ie = Ssas .s.ss.ig:.
s.ssaaIS 80 4 nr~st ~ sanaa ;n5; 81,
IA a;Snai wanld ha % r n;,l;na - Lon .. h.,
Isass. .s,.sn,s,.hns r etha.sunnlg so,1oa;;n9 the
;ass,,ITs IA .fHsrs woynr,l5 sr;se t. nsc,i;a,
ibs h;ob yrste of ;ntersst ,yonjd ,j
aiso o,troct - ca,,;tal from, ahroad .nd th5,
80 80 ssha-s t;ma ;t v,onidr;n M. M r.sir
.,;cn,sr n1ocs obgoight 4 stbe ,1a,1 ,g1a1rsr,,
,aao, p,,t s,,nnosa ; 3hot 80 ns,. ~.
49, stha h;ahaat os ;ntarsst ans
tbat ha wbo sloaned Il . highe, late -
;a.s.as. ",as ,;ah1s ~ to',o.a " % hath Ii. ~ nr;0 ~
o;nal ont, ;n,ere.t and o,so jh;o noerco n
:t;1s c,,srac,sr n this case a. soon =,
az n,ost of 90 on;tol in h,ruS; h,nrusS;nosas, &C, ros. !,
sAaan ~ t,vontv nor cont no ona ,,,,
.on1d-.hn.. .nan,cr s ,,onld loan ;.tat 81,
ansr, cent? Hence a. !soon = otbus roo,
ia .ir,In,n,iy would J, he ;mmediatelv d;n;n
;sbaa an5 tb;s would of course cense
..a..,. l., oe:;ntor.,,. ,Tho.s ,arho ,,-o,,
bonror: or conscience. obeyed the law
would Withdraw 5 Fl from ,,h fhe I'M market an,
emnlov their ,.,i ,apital in some other ,way
The real yal;,e1 of money! NAV be ten q
6fes,,,t Nor .c;ant vet heca,,se the lssoo
|.,l:a,s2;s,s z 2 .; ar cont thero 50 10 ;ndnce
ment { + fo, can;tal to come in from abroa,
bto 10 s,,nn,v the. demand. tItis, i presune
||sheeaiess Is add that such laws j can nsy;e
..it i. f,;roaed" Man T. us want = of none, me
al, nov what thew n,esse for =, 4 an,
ttho.a nbo .boseitoI nav anongh for T. 20,
-, - FS sss..,;n,.l : ~. oasot thon :
o. Il! ,ss.ls,a a...l, - 49, I:Ih t,:aI hos :
sae usufS la" - me.s.S $50 -. w 1ls =
anu es' IL is nhented
= ..l ss Ae,; ,;ho athar th;nas; ;nasmnch as :;
- - go. - &c 1;fs = H. mercbo /,
49,, ,,,',.t ~ sas s.ar aa y - =
[ilirsr him 'fron the effects Of extortion
| M th;s T. moo he answered az follows
+, g. .h.t ..h;. ;.tars.,
does not as randsr the merchants con
a;t:on @ IN tha ~ hotter b,t rather the vors,
Tponab ,Se s,sss;stance therefore be: $ we q
;n.oased h. mav rarv ,velI d;snenaa wit
;', ;t'''s're's1,.eD.l, ---~
1,sona Tna .o,ooter tbe neceas;tv
L -,