The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1877-05-17
THE UsUgY BIEI.

OVuhtcI anu Wdo bElt W VIC A1Ooe5$ VI
Representatives for It's concurrence a. re.
lection. On last Friday Che Comsfttee
on Ways and Means ia the Hossse re-
ported q recommendation that this bill
be postponed TO the next session of the
General Assembly. Messrs. r. w. Simp.
son, Muller and Wind submitted a
minority report, recommending that aho
bill pass, bat after discussion the report
of the majority was adopted, aud the
further consideration of the bill post
poned to the regular session next fall.
Before eny bill had been introduced we
thought il better to wait until 'naxt fall
about agitating' esubject, but Whenever
the question was brought before the Gen
eral Assembly 60 that II had TO be acted
upon, it should have stood upon its
merits, ahd been either adopted or Feei
jected, The country wants what ia 10 be
the lay upon shis subject setsisd, eed the
condition tits now left In is as unsettled
as IL could possibly be. Ore K6gse has
passed It and the other is TO act upon II
next fall! What could the representa-
tives Uho voted 10 postpone have been
thinking Of? Do they expect capital TO
come here with the question Of interest
SO uncertain Do they expect the cap
itai already here 20 he easy or accessible
from now until tho <gneaGon is de.
termined They are quite mistaken If
they do. The House ought Tot TO have
shirked action upon the subject, 5oT.by
postponing the bill they have given it q.
black eye, and prejudiced its prospect Of
passage next fall. 1t was the most i'm.
portaut measure they have had before
them, and it should have been adopted.
We fear number Of the members of the
House have been influenced by the com
mittee from the Charleston Chamber of,
Commerce, which went up to Columbia
on Thursday to oppbse the bill, and on
Friday It was postponed. We do not
blesse capitalists Tor opposing the Usury
Law, nor for letting out their money at
reasonably high rates, but we insist that
the Legisluture should not act to suit
their Wishes simply because portion Of
then, Sand delegatios to represent
them. The whole people Of South Caro-
lima are interested in this law, and it
ought not to have been put to sleep by
lany other means than asvote upon its
merits. te 'io daE IS .t.
The Chamber of Commerce urge the
following objections. to the measure,
which we will answer in the order in
which they are proposed:
list. That it restricts the natural free
dom or individuals in conducting COM
mercial and money affairs, I,
Quarantine laws restrict the natural
freedom OF individuals in conducting
commercial and money afEsirs also, and
/ yet they arc maintained because they arc
necessary for the public good. The
Usury Law rests upon the saE,e general
principles. 1na a E' -, 4asti
Cd. That freedom of action iri regard
to money contracts cannot bo abridged
upon any principle of governmental In.
terference which will not equally sane.
tion the regulation of contracts for wages
and rents. because interest Ia the t::.s G:
Vafisss. @ s.; -:.ss :s Vi: ,..o r iLy L5v
4 and rent the hire Of land.
j 3D.. That 1t is against the established
principles Of personal liberty for the
\ State TO touch Individual righta Of persof
and property, and that money is as much
/ property asland. 1io'4' 8 H'''.'7'
| The mistake in these, two proposition.
fsests in the fact that the thing to BIZ
provenFis iassuluGd to be true, when in
fact it Is not Money 10 ~ artificial
standard Of value created by government
and therefore government has the right
4 to eontTo.. and dictate the terirsa of Id
| use. Il Is not Hike labor or land FOR an
act Of Cang:ees, cannot Greats lahor noii
cas5sss i create land, and therefore it. ought
net toiattetnpt to control such niatsers
Money Is an arbitfsry value or STANDARD
1 for exchange issued, by the government
for the convenience of its citizens, and II
| has theofight to'eay upea what terms this
i eonveniene5 shall he, used. s9''ll ,si'i =
4th. That the proposed measure viii
/ tend TO make fl0pey, dearer instead OF
/ cheaper; that money IS now dearer in
Georgia and North Carolina where there
! Arc uBpry lava than it Is here where there
| are none, and that this increased dear.
ness of money Will fail upon the must
| nocdy end numerous borrowers, end will
besides enhance the price ,ag iii articles
required s.:: - sg..s Eidn supplies
4 sufficient ansN NarI to this q, That if il