Mexico weekly ledger., 1878-08-15
For the ] rDdEG.
six PER CENT"

MR.. EDITOR: Thc attic 8 III your las
issue upon the su jact % uSury is inter'-
ed, we think, tn Invite discussion. At ans
rate it is s~uhieci that needs tn be undt r
stood better tn al At present AMI 7. think'
without doubt, he has r. Acted a greai
amount OF light uYon it. W. do rot pur
pose to undert: Ike the defense Of Cart
Mcintyre or Bishop Du tn y can
take care of themselves. These gentlemen
on the 9th ult in defining ttnir position
Endorsed the proposition t. repeal the law
allowing people to contract for more than
six per cent. Interest. Mr.. 7. flor that i,
his namel says, II for one am not williI .
to swallow such a proposition. unless the,
go further and show why they favor Ii
give some intelligent reason for it." W.
do not wish to take the i,b out of theil
hands but only to contribute to t 20 dis
c~ussion. We do not ask the gentleman t..
swallow" it. but simpl1 to keep it befor,
him, and turn it over end back agaiI, ex,
anime it in al its bearings, anu aear What
others have to say about it. Perhaps.
though, he thinks he can best digest it b.,
swallowing it, having pfodigious digest
ION.
Mr.. T. says ga candidate would not pr,,
tend to assert tn 1t he wa in favor of pass
ing a law regulating Inc price a livery ma
is to receive for the use Of his horse, q
he price a poor hirslins is to receive 70
his labor, or the price IL farmer i, to q
or his pork or anv other audlct he In
% sell W. vote~ should not SIlnd
The reasons for II Are s"s-.v -
lose in favor of the SIX pc: cent. law"
We think the reasons are Lot as good
Laws are made, or Should be. for the goo,
# the greatest number of people. 1t is no,
pretended that all laws caIi bear equoll,
IN all interests and people. Minis pas
sions, propensities, we tknes es and averce,
will drive them into matters til, I
are ~ruinous to themselves and injurious t
the community. Laws are not made t.
benefit Il particular portion or class. The
legislature has not abata n ID from e
Isting the price Of IL livery rig or a bushel
If corn for the beLelit Of the livery man
or farmer. 1t has abstained from it sim
ply because it was not necessary tor tn,
public good. Not so with usuly laws
they are enacted tC protect the weak, Wis
,onary and helpless. 1t i2 for the publ,
good that the imprOvident be protecte
by law. The few that have money to pa
on interest could find plenty Of anibi
tious. industrious AID ~thotgaLless men to
take it at twenty-five per cent. if no law
stood in the way. aud thus it would G.
of property. AS it il. ton per cent.
has ruined more persons who nave thought
could stand that, and make more our
Of it, than loans Of any kicd have don,
good. 1t is not for the public good fr :
moneyed men to nave I chance to le-
gally rob the small estates o. &C m'nuni-
through the chan .els of visionary
.chemes of the borrowC. The law re-
,trIcts the rate OF interest for the sam
reason. it does gambling, lotteries and tie
publication and distribution Of obscen,
Why not have free trade il
departments of industry? Simply
because they would lead to Injury to go
to the public. If Mr.. T. should
contract with MIR. Kenper to sell and aI-
.uaIly deliver on the sale n diseased bee
or hog and knowing it to he diseased by
both and then sold to customers, does he
suppose that 7. would enjoy his free trad,
in that matter? Why not? Why not al.
allow T. to buy a hundred dollars worth
of obscene literature and set uP i stand in
and offer them for sale? Does T
understand? Will the law OF supply and
regulate Mr.. T.'s business VIM
not? 1t is for the public gopi that every
man prosper and legal means should be
used to protect the .~lmprovldent So that
they prosper.
Again the high rate of interest will in.
duce the monied men-nen whose wealth
is in money, to LOAF it at higa Rates and
take the mDsthe can for security, AID whet
the borrower fails To meet it, sacrifice the
security, and in taking the security An eye
IS always out for the results il the DO rover
fails to meet his o5lisatio rs. OF course
such is to be expected by ali parsons, but
the borrower; he sees nothing bat pros
AL persons with few exceptions,
who nave money not wanted for their own
personal use, prefer to loan it To engag-
g.. -, hr,ipa,a In ma IL nrA-: Ia : ua il,
.erest is high enough.
The average profits or increase with
.he whole country. take the average for
fifty years, on ali industries including la
Dor is not four per cent of the cost value
the investments. While this is so the
money loaner desires to take his leisure
and get ten per cent. and take no risks.
Our laws should be so framed that the
greatest Inducements for investments he
in some kind of business. Looming mon.
py to business men to make a capital up
which TO operate is nice for the lender
if he gets the "lion's SHARE" but destruc-
ton to the borrower. The Legislature
leg islate with u view of building up
SIN Ill industries as we'll a. the larger,
and zone can be iostered by paying large
interest. If people who have money can
loan it for ten per cent. they will do
it tor six. or il not. they will invest in
home INDUSTRY. The idea that high rate
of interest brings money into n country
may be true, but it ruins the man who
attempts to pay it. A low rate of interest
will never drive money away. 1t only in
duces to better security and investments
than loans.
Talk about the freedom Of people, their
rights-sacred rights-of liberty, aud free
dom to do and trade when and where thew
pIease: to sell to the man who will pay the
most, and buy of the man who will sell for
the least. That is all very we'll for tho
who is above board, with plenty of
means, and out of prison" or for people
generally in matters of merohan lise, or "A
government. But citizens of a govern
ment dealing in money one with another,
is quite another matter. Money intoxi-
Gates the brain of a lsrpo~S In ~ uaople,
and the why viii women mel their
minds with visions OF s5entness, wealth
and success. Every person supposes him