The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-02-12
HOUSE OF REPRESENTATIVES,.
INTEREST AND UsURY.

INTEREST AND UsURY.
The Speaker announced the unfinished
business of yesterday being the consider
alton of the 8 per cent. interest bill q. r.
1867 on the second reading.
Mr.. ROBERTSON: There Fever has been
q bill to reduce the rate OF interest bat
what there has been some argument made
to defeat it. When there was proposition
to reduce the interest of the funds of the
National Government the same argument
was used. | believe it has been said that
the supply and demand regulate the price
of money. ana in favor Of increasing the
supply.
Mr.. HARRELL demanded the previous
question.
The demand was seconded by the House.
Mr.. WILLIAMS: There is no difference
between this bill and the statute, except the
rate, and it is per cent. contract or no con-
tract, instead of 5. The gentleman from
Putnam talks of this bill very sarcsstically.
He said this bill ought to be entitled bill
to oontiscate property and labeled q humbug.
| understand my duty on this floor to repre-
sent my people. ] don't believe It is right
to discuss o bill in this way, bV saving IL
4
lieve 1T is right TO imDute such motives 20
the author OF the bill. II has been said that
legisl alton in this direction is OF requested.
/ iTsi that the people of this State demand
relief In the way OF reduction of the rate of
interest. The rate of interest has been regu.
lated ever since the days Of Moses. We have
always been regulating the rate OF interest
and We have right to regulate the rate Of
interest. | do hope the bill will pass.
The bill failed to pass-yess, 81; nays 81
100000 LOAN.
Tie bill s. 1867 authorizing 8 temporary
loan by the State officers, coming up on the
second reading
Mr.. WILLIAMS moved the further CON
siderstion of the bill be postponed until
o'clock next Wednesday.
Mr.. SMITH: The suggestion of this gen.
ueman IS a good deal like Jay County
promise 10 pay-there 10 no time liked. This
session ia rapidly running sway. ! don't
wish TO throw any reflection upon anybody
but why make this 6ilatOry motion? W.
are about TO construct insane asylums. and
we are in need of funds. / believe, 10 fAcil-
itate and hasten matters, we Ought to con
slider this bill now. We probably would not
reach the regular or5ss next Wednesday ]
am opposed 70 tie motion.
Mr.. BROWNLEE: 1t seems to me tbs
consideration OF this bill ought not TO b
postponed. We ought ID go right ale 40
with this bnsiuesss in the regular order
MIR. G00DING: There seems TO be dis
position OH the part of this House 20 post
pone this measure until next wednesday
The friends OF this measure seem 70 want 70
pay no attention to tie committee no mat
ter what the report may be, but want this
bill TO 60 through without any amendment.
My vote shall depend very largely upon the
report Of the committee. II Is certainly s
matter 81 no small importance, and this
House can we'll afford to wait for
the report Of the committee before sc.ing
upon this bill. This bill has clme
from the Senate. 1t mas passed the
Senate, and We have four or FIVE weeks vet.
Ii this bill is right il ought 10 pass, and If il
is not right it ought not TO pass. This House
appointed committee to report upon the
paSssge of such bills. The probabilities are
that the cODmittee would be able to report
by next Wednesday. There is ample time
TO pass this bill. 1t ought not to pass with
out our knowing something about il IL
only involves about $500, COO We ought to
wait and see whether we ought TO vote for
that much money or not. For some pur-
pose the gentleman from Tippecsnoe
desires TO rush il through without
consideration and without delibsratiop.
Let them do it IL they have the power. I
wasn't this House TO have some time 81 under
stand something about the contract between
the commissioners and the contractors for