Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1879-09-06

and accumulated IN the last two nun
dred years, while ninety-six per cent. OF
the same population owns only one
third. Assuming, in round numbers,
our population at forty millions, tour
per cent. of it would be one million six
hundred thousand, and ninety-six per
cent. would be thirty-eight millions four
hundred thousand; SO that, by tie fraud
of interest or usury-and they are one
and the same thing-one million six
hundred thousand men in the period OF
two hundred years have been enabled
to acquire, by its most infamous distri-
button, two-thirds Of all the accumula
ted surplus, while thirty-eight millions
four hundred thousand have as their
share, of all they produced, only one
third.
Nor is this surprising when you COM
pare usury and its modes of accumula-
ton with the slow and uncertain pro
cesses OF all labor and Legitimate prop
erty. Usury is constant and certain ; II
grows without wear or tear or effort Il
creeps slyly on, day and night, and
slumbers and sleeps not even on the
Sabbath; il is liable, or need be, to no
contingencies or accidents; it is certain
and sure as the rising and setting of the
sun. On the contrary, al labor is pc
Iiodical and uncertain; the farmers
crops for the whole year may be, and
often are, blasted in a moment; the man
uiacturer is liable to accidents and vari
alton of prices and rewards, aud most
frequently from the variations i'll The
volume and cost Of the exchanging me-
dium, while the uncertainty OF all com
merce is ployerbial; statistics show that
not more than three ont of hundred
merchants escape bankruptcy. Nor are
the mechanics and day laborers exempt
from uncertainties, casualties and sick
ness, but like all other producers OF the
wealth and arts and sciences, arc liable
to time and chance, and, embarked on
the same ship, are common sufferers III
the common wrecks that day after day,
and year after year, are deliberately
planned and brought about by the hell
born arts and contrivances of the min
ions of avarce and usury. AT this very
moment, and in this free land, usury-
accursed, lazy, unproductive, plunder-
ing, stealing usury-has its vile, pollu-
ted and polluting foot on the PROSTATE
necks Of forty five millions Of people
and forty billions of property! Witness
three millions Of tramps, boundless con
iiscations and sacrifices o! property and
countless mOrtgages-like the CycIops
in his caveyn-opening wide their III
fernal jaws to swallow mp all that re-
mains! No labor, no industry can strug
gle against usury; OF necessity aud in
the nature of things it must utterly per
ish or succumb and be onslayed. The
one or the other "must go!'
Why should usury stay; and whom
and how many does or can usury bene-
fit? If, on one hand, there is DO usury,
all are equal in the Legitimate use of
money in their exchanges; there is no
encouragement or temptation TO idle
ness, and all alike must work, as in jus
tice they should, and contribute their
part to the common good. TLis is fair,
and Just, and equal Tor all.
But, on The other hand, if Usury is
consented TO and permitted, II will be
seen clearly, and to a demonstration,
that there is no justice or equality exist
ing in the use Of money among those
who have consented TO this use OF ii,
and that however specOus and fair il
may seem that all equally share in the
benefit and privilege Of usury, that this
is fallacy and delusion, and that lis
use and profits, in the very nature Of
things and Of figures, must of necessity
be confined to a very small and insiG-
nifcant number OF a nation; 10 not mole
in fact than about four persons in hun
dred.
For lay it down as an incontestable
fact and proposition that no man can by
any possibility be advantaged by any
the lowest usury or interest, unless his
nt income exceeds his expense. But
he can be greatly injured, because in
bis exchanges the rate of interest being
the rate of exchange, he Of course pays
more on the greater expenses thar he
can receive on the lesser net income.
Say, for example, that he is renter of
land, and makes in gross one thousand
dollars in wheat and corn, all Of which
must be converted into the exchanging
medium to enable him to pay his rent
and other expenses, would it not result
that, directly or indirectly, that in max
ing this exchange or conversion, if mon
ey was at Ten per cent, the amount OF
exchange paid by him-for the rate OF
interest is the rate of exchaDge-would
be one huudred dollarsi But bis ex-
pepses are pine hundred dollars aud his
net income is only one hundred, and 50,
that while be may get ten dollars Oh his |
net income Of one hundred, be is, by
usury on money in the exchanges, com
PEELED to pay ninety in order to get ten.
Surely this is, in the language Of the
old militia captain, an advance back
wards; and it must be palpable that no
one 50 situated can possibly be adyan-
tagged by interest on money. On the
contrary, the rich man-aDd he is the |
rich man whose net income exceeds bis
expenses-could afford to pay the 800 |
on expenses, because he is receiving 10 /
per cent. on the greater net income Of
5000, or 10000, or on millions. But !
the poor man-he whose. expenses are
greater than his net incOme-who |
agrees TO the fairness of usury, is exact
~ the foolish bettor who consented 70 |
III