The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1877-12-12
The UsuW Bill.

NO question tHat HIS couie pei"'e
our Legislature this session has caused
so much discussion a. the Usury Bill.
Day after day our representatives have
approached the subject, almost every
one armed with u speech, and every
speech bristling with quotations from
the works Of all writer's OIL political
economy from Moses to John Stuart
Mill. The daily and weekly press are
full of articles arguing on both sides
of the question !; and private citizens,
moneyed and penniless, with or
without credit are ranging themselves
on the side of the money-lender and
the borrower. A fever o r panic of
this kind is one Of the constantly re-
curing curiositics of history. From
the earliest times to the present day,
every season of financial depression is
marked by a crusade against the pos
SCISSORS and lenders Of money. The
history Of the Hebrews, ofGreece, and
of Rome, affords numerous examples
of this, and down wen to compare
lively recent times in the history Of
England this popular cutlery against
the money-leuder frequently was
made the cause of bloody massacre.
1t is, to say the least, a curious histor-
ical fact that the denlagogue has in all
ages made this popular movement
his fnvorite tool. This should give
them pause who at present are so
strenuously advocating the passage of
the Usury Bill. We do not say they
are playing the role Of the popularity
hunting demagogue. We only mean
to admouish them to look wisely and
warily on all sides of this confessedly
perplexing question, This State has
had its season of depression, long-oon-
tinued, deep, and gloomy, and our
people are naturally curious to know
why the long night does not cease and
the clear dawn arise. Some cause for
it there must he. Some soape-goat
must be sacrificed. The usuriOus in
terest of those who lend money has
been chosen; and like the mosaic
scape-goat the money-lender must suf-
fer for the sins of the people. We
have heard Of Il man who lost all he
had ut the gaming table, and on is
suing from the saloon angry with
everybody but himself he kicked the
first man he met. Somebody had to
be kicked, No doubt the man he
kicked was aStonished, and for a rea-
son somewhat similar, the lenders of
money in the State must be astonished.
Have they to bear the blame of all the
financial depression upder which our
people are struggling: Engaged in
oil honorable occuMtion, handling q
much needed and scarce commodity
the need and ths scarcity going pari
passa, receiving naturally large profits
on this commodity. in obedience to
the laws of supply and demand,-sud-
denly they are informed that they
have been doing nefarious work, are
vampires sucking the life,blood from
the State, are the cause of all the pow
erty and distress around them, are.
usurers, plunderers, Wha. not? These
money-lelders must be muzzled.
They must not take ten or twelve or
fifteen per cent interest even when Of
fered to them. The people need money
mosteertainly, they are willing to give
high interest for it's use, but the
moneyed NJ must not take this higl,
interest. In other words the people
will legislate SO AS to share in the
profits Of money-lenders. Thia surely
smacksof communism. When a maj.
lends money he -eXartS interest for it.,
use as his clear profit and this il
measured by the market value of tn,
money lent: he also demands and j.
entitled to a premium rs i%ndemnifica.
Etion for the risk her'lns in lending :
these two items at present are large
and both together constitute what
certainly is a high rate of interest
call 1t usurious if you please. TO both
the lender is clearly entitled by all the
rules of commerce. But the people
claim a shae in this profit, and clam