The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1880-01-15

two-thirds Of its value. There is one
way, and only one, by which he can
get the money and save his property. /.
Ten men set out early in life to
make an honest living, by honest in
dustry. They are farmers. They
work hard, early and late, live care
fully and economically, and raise and
educate their families. Their children
all marry and leave them. The men
are getting old, and not able to work.
They cannot properly attend to the
old farms, and they think they have
labored long enough, and been careful
enough to spend the balance OF their
lives without further toll; so they all
sell their farms for five thousand dol
lars each. They form company
called a bank, and each puts in his
five thousand dollars, and with this
fifty thousand dollars they go into
business. They understand farming,
but they know nothing about bank
ing; SO they rent room, hire a cashier
and clerk-men who understand the
business, and prepare to loan their
fifty thousand dollars, and live upon
the interest. They cannot see why it
is not just as honest, just as legiti-
mate, to loan the proceeds Of their
labor in money, as it would have been
to rent their farms.
Now comes our debtor, whose prop
erty is advertised for sale. He asks
the bank to loan him the money. He
is told that he can have it, if he viii
give good security, but he must pay
ten per cent. interest. The bank has
to pay heavy taxes, pay room rent,
pay the hire of the cashier and clerk,
and they cannot afford to loan money
at 6 or per cent, the amount fixed
by law; besides, money is worth 1C
per cent, and that amount can always
be had for it.
Our debtor is only too glad to gel
the money, and save his property; sc
he solemnly agrees to pay ten pei
, cent, gives his note, with security
gets the money, pays his debt, anC
saves his property.
In due time the note becomes due
but it is not convenient for our debto
) to pay. He has raised good crop
but grain and hay sell at low price
t and he thinks it would be better fo
t him to feed his grain to his hogs, an,
| his hay to his cattle, and then sell tn
1 stock. So he asks to have his not
S renewed. He erenews several times
r still pairing the interest. After
: while he sells his cattle and hogs at
i good profit, and he has done so yer
we'll that he concludes that he ca
r make money by running his note i
a bank, and paying ten per cent. inter
d est ON it, and using his money in ell
Il larging his operations in stock raising
= He runs his note thus for three {
e four years, when the bank needs tl
e money to make some large loan, t
h accommodate some man or compan
$ in very great need. The bank notifi'
our debtor that it will not be cow
a nient to renew longer.
:, Now comes the moral point in IL
e case. The debtor notifies the ban
e that he is law-abiding man, and I
T. the law fixes the rate of interest at
t per cent, he will regard the 4 p'
d cent. paid extra, as so much princip
y paid The bank sues him at law, al
: he sets up usury, and gains his cas-
l. Now does that man possess a goo
h moral character? Is he not thief
: heart? If it were not for the Pen
l. Tertiary, would he not break into Il
It bank safe and steal the money
e Would that be any more immoral tha
:, that which he has done?