Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1877-12-13
SOUTH CAROLINA LEGISLATURE.

VIC oCSioioa VI ooo6S
SOUTH CAROLINA LEGISLATURE.
COLUMBIA, Tuesday Dec. 4, 1877.
In THE SENATE, the proceedings wsss Prin-
cipally of routine character and present
nothing of special interest
In THE HOUSE, Mr. Guignard introduced
bill to prevent improper charges for ad-
vances to planters and others.
Mr.. j. J. Hemphill introduced a bill to al
ter aud amend an act which refers to the
charter Of the town of Chester. .e.
Mr.. Blue introduced bill to abolish the
pay of witnesses in State cases. a
Mr.. Wells introduced bill to authorize
the Secretary of State to extend the time for
the payment of purchase money for tracts of
lands purchased Of the Land Commissioner,
for one year.
Mr.. Sheppard, of the committee on ways
and means, made an unfavorable report on
bill to provide for the election of County
Treasures and Auditors, and favorable re.
port on bill to restore to their former owners
all lands forfeited to the State for taxes.
A message was read from the Governor, in.
forming the legislature that Attorney Gener-
al Conner had sent in his resignation. 1t
dealt in words very complimentary to Gener-
al Conner, highly praising the valuable ser.
vices he had rendered the State, and deeply
regretting that he had felt constrained to re-
sign. On motion of Mr.. Simpson, it was re-
ceived as information. ... ..,as.4s
Mr.. Blue offered resolution thanking At
torney General Conner for the able manner
in which he had discharged the duties of his
Office. .... sat
The House proceeded to the consideration
of the report Of the special committee ap-
pointed to prepare articles of impeachment
against J. j. Wright, Associate Justice Of
the Supreme Court. The report set forth the
fact that before the committee had entered
upon the discharge Of their duties, Judge
Wright had resigned his Office. It went on
to state that his resignation had not been gu.
perinduced by any action of theirs After
some short debate, the report of the commit
tee was adopted. l..,
A bill to regulate the rate Of interest on all
contracts arising in this State was next called
up. Mr.. Ferriter moved to strike out the
enacting clause, but his motion was lost.
Mr.. Brown advocated the bill. The peo.
pie of the State, he said, were crushed and
ground down by having to pay extortionate
rates of interest on money. High rates of
interest tempted capitalists to loan out money
and thereby make people poorer, instead of
investing in legitimate enterprises, manufac-
lures, &C., aud bene6tting the State. He
thought that it was better that money should
not come into the State at all, than that it
should come to be used for the benefit Of the
few to the detriment Of the many.
Mr.. Brown was replied to by Mr.. Memmin.
ger, who expressed surprise at hearing such
views advanced. He said that he was men,
ber of the House for many years, and that
during the time, no gentleman Of intelligence
would have advocated the views express
ed by the honorable gentleman who favors
the usury law proposed by the bill now be-
fore the House. He asks US to travel back
200 years. We want capital to come into
the State, but we cannot force it. We must
invite it. We have no right to 6x the price
of any commodity by legislation. Will you
say to the cotton seller, you shall not receive
more than ten cents pound for cotton : or
to the bacon dealer, you shall not charge
more than fifteen cents pound for bacon ?
We cannot fix the price of any of these COM
modities. and what is the difference between
them and money! The men who have mon.
ey to lend are not the ones to build up our in.
dustries but the borrowers are the ones.
None will come here and spend their money
for the benefit of the country. inform my
friend on the other side that banks, when
they are not connected with the government,
barely pay expenses. 1t is very seldom, even
with the most economical and judicious man.
agement, that bank pays an annual divi-
dend of per cent. The great reason Of the
high rate Of interest which is charged in
South Carolina, is one that you will not fail
to perceive. The State is proceeding on
false basis of taxation. It taxes both debts
and credits. The State taxes money, and in
terest is obliged to be higher in this State
than anywhere else. The State, by this vi.
cious system of taxation, makes high rate
of interest absolutely necessary. Mr.. Mem.
minger went on to elaborate the various
points of his argument. The venerable leg.
islator was listened to with marked attention
and interest, and his words seemed to produce
deep impression. a.... -. ...s..
Mr.. Connor followed in support of the bill.
His argument was mainly devoted to estab-
fishing the fallacy Of the proposition that
money was like other commodities. Itdifer.
ed from them, be commended, inasmuch as its
quality was fixed, unlike other articles of COM
merce or manufacture.
Mr.. Aldrich followed in an argument of
some length 10 opposition to the bill, and cou.
tinued until the hour of adjournment. 49,
WEDNESDAY, December 5.
In THE SENATE, the bill to authorize the
County Commissioners in the several coun-
ties of the State to allow the erection of gates
upon the highways of the State, wherever, in
their judgment, the same may be expedient,
was referred to the Committee on Roads,
Bridges and Ferries. 49, . .r,u.
In THE HOUSE, Mr.. Curtis introduced