The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1877-06-07

| people generally could not afford to pay
more, and he could we'll afford to take it
As general rule the money holder j:
just as generous and just as charitable as
the money borrower, and the same re-
mark would hold equally true, doubtless
iwith reference,to to the stockholders of q
bank, but all corporations have but one
object in view, and that is to make
money; and as business men, it is to be
expected that they are ready to take ad'
vantage of any legislation favorable to
their interests. And who blames them
We do not certainly.
>, But we do blame our legislators, custo-
dians of the public interests, who are not
to look at one single interest in the body
polite, but to survey the whole ground,
and legislate for the "greatest good to
the greatest number" And, Mr.. Editor,
what is the most remarkable thing of all
is, that a bill for the restoration of the
old usury law was promptly passed by q
Radical Senate, and as promptly post
poned by a Democratic House. Take
care, gentlemen, you are treading on
dangerous ground. If you fail to realize
and provide for the pressing demands of
the people in their most vital interests,
ltekez will be written upon you at the
next election, and you will be invited to
step down and out, and make room for
others more in sympathy with the people.
But the Charleston Chamber of Com
'merce, gathering all its powers and in
fuence, actually belabors the Legislature
with the long exploded theories Of legis-
ilation-that it is better to have no usury
law at all; that money would be cheap
er aud plentier without it. And this,
too, in the face of the. sad experience of
the people Of this state for the last ten
years. Although the rates of interest
without the usury law have been just
v hatthe capitalist might please to ask
not what the country was able to pay
yet never in the history of the people of
this State is money harder to get, And
this same sort of Charleston influence
.besieged the Legislature of 1866 for the
repeal Of the usury law, as temporary
relief to the commerce of the country /;
but give an inch and people will take an
ell is as true in regard to Charlestonians
as other people. It is about time that
the Chamber of Commerce should be
taught that Charleston is not the State,
and that the State does not belong to
Charleston. Nordo We believe that the
Chamber of Commerce represents the
true interests of the people of Charleston
in this respect. Some of the leading
business men of Charleston seem strange
ly obliyious to her true interests in other
matters besides that of just and whole
some usury law. For proof of this we
would call attention to their persistent
determinations in way freights on rail
roads, when it is evident to everybody
outside of Charleston that such policy
is driving trade away from her merchants
that properly belong to them. T
No doubt the repeal of the usury law
would work injury to some of the
Charleston merchants. They are mere
agents for New York firms, who are glad
to furnish them money at five and six
per cent, to be re-loaned to the poverty
stricken people of their own State at
twenty or twenty-five per cent. Othello's
occupation would be gone. But instead
there would spring up all over the State
a sound and healthy basis of trade,
founded upon low rates of interest and a
modified homestead law, which would
react upon the prosperity of the Queen
City, and make her what she ought to be
the entrepot for the trade of the State,
and also of that of many portions of the
adjoining States.
Let our Legislators, in financial legisla-
ton, go back to the old system SO long
practiced in South Carolina, which made
her credit equal to any State in the IN
ion, contract but few debts, and pay what
she promises faithfully. All along
through our days of prosperity we had
a good usury law, the credit of our State
and the credit of our people was untar-
nished, and prosperity reigned through:
out our borders. SEARCH for the old
paths and walk therein"