The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1877-05-24
UsURY AND GAP

not notice, as I have already corrected
the error to which he alludes, and as you
have inyour editorial on the usury bill
given SO many reasons why the usury. law
should be se.enacted, were it not that I
am very anxious to know whether "a" is
a money-lender, borrower, Or either.
Ifhe means to say that farmers, mer-
chants or mechanics never borrow,money
to make their "bread and meat" that is
to make their living, then he cannot be
a money-lender, or, if one, has remained 81,
in blissful, ignorance as to what oecupa-
ton his debtors followed. IF not al
money lender, then he is the first in my
knowledge of his class who opposes the
usury law. aig59,: blsIe;152aqni, =; :s:s.Is
=, He escanrot beaa borrower, or, ifso, he
belongs t; some other class than those
mentioned, and links; 10. other class soI
unfortunate AS own as tothaye to bor-i
row money. 4js5jH. 36t r hay So 'e..'
He then must be like the old woman
who had bought q new pot-he neither
lends OF, borrows. =, +fs.s q, noiiHzi1 ve:.i
llnO, happy creaturel His mind is never
harrassed about lending money, and
whether the secuFiiy, IS good. His peace
full slumbers at night areineyer disturbed
about improbable investments and the
collection OF money out on interest. He
is never troubled about .forecloaing al
mortgage iors fear the property sIwouldE!
soon notbe sufficient ay'debt1interestl
and costs. He is never perpleSsd with With
the problem Of loss and gain, and on the
other hand .he:is never. troubled with the
question: how shall he; meet the payment
ofa bank nc te, shortly to become due. He
|. is never woaried with the thought, how
shall ] be able tosupport my family. /
! He sees no evil effects Of high interest.
FNo! mol ,He does not borrow, and, there
fore high interest does not effect him. % Is
-hetsure ofthis: qIsishes sure that ;iepays
no more fossi twhat The consumes When
fmoieY comhiahdS twenty per cent. than
When If conmands only seyen2 Does
he,thinkrifthera& &as no ta1:6ae ewhiskey
and tobacco that the priesl would nnot DE
reducedY But ,hs, IL 3aiolt Borrower, Or
hs would sec through different glasses
b.DBat heidoes notice one, incident ino the
taraansactionstf life Hisquieta and happy
state is interrupted BY an unexpected il,
cident., Aaiadytcame to town oi:buy
Fcoru, and was asked by a merchanthinety
cents cash, OF one dollar ana BttY I Cents
On time Her intuition ? prompt td, her 70!
go to the bank and borrow money dat
twenty per cent, and she saved by the
transaction forty cents on the btishelJj
He does not atate whether she gave per-
tsonal security, OF what interest the. note
bbeaB after msturity. Butthelady acted
wisely, (asaRladies do, thereforelet the
men learn q lesson, and borrow money at
the bank at twenty. per cent: and pay
cash for, 'theiE supplies. But aj man,rI
lpresume, under thegsame circumstances,
would have done a foolish thing and
bought the corn on time. What q pity
we have not 1aore ladies who would take
apart inntheabusiness't 'transacions,of life.
This would ssvem to be, the sufnises of
t"A." ~ - 's s.'f.''-il !7iti'} /,
l.. wonder how much bank stock SAP
has, and at whatit canbe bought Per-
haps itswould be to his interest for all
farmers 70 borrow money from the bank
at. twenty per cent and pay cash forttheir
1gocds. III admit that the Lady, under the
circumstances, acted wisely, but is "a"
sure that # Interest was at reasonable
rate that the merchant would have, asked
one dollar and tforty,leents for corn on
Etime p 9Doesihs suppose that merchant
would continue, business, or could do SO
unless he had large capital, without
considering tho present rates of interest
) in pricing his goods? If he did not,
would. it not pay him much better to lend
| his money than Investing it in stock of
goods: Does net the high rates of in
lterest havea tendency to cripple all in
dustrial enterprises? Does it not effect
not only the borrower but the consumer
;. Does it not build up moneyed monopolies
that oppress the unfortunate p Let GA
answer these questions to the satisfaction
of the many who are now anxious to be
f informed on the subject.m .oao- Fl.
Let him explain why adelegation from
: Charleston were in Columbia not long
since using their influence against the re.
adoption of the. odd usury law, and in
; form us ifjany delegation from any par
of the State were sent to Columbia III be
} half of the adoption Of the law. ~
!But'EsA," although not being harriassei 8
q as a .meuey-leuder, or troubledas} a boI
2 rover, Mas thought some on the ,subjec.
:. and has philosophical On cause and effect
supply and demand and has come e.te.ef to th'
; conclusion that the, high rates of ,interes
> is not the causeosShe unfayorable fnan
d icial condition Of the country, but thu
, effect. :''g' =. g. -, ,.5.i,.;
J. 5eb BY what process Of reasoning he come'
j. to this conclusions, 'Imam unable to con
lecture. But adnlit his conclusion, ant
Is It not one Of tile strongest arguments
, in favor Of usury law2. To say be