The Russellville Democrat. [volume] (Russellville, Ark.) 1875-1898, 1885-03-05
PropogatIng Error.
Correspondence of the Democrat.

Correspondence of the Democrat.
From the columns Of the Daily
Gazette of recent date clip the
following:
I'm an article coademning usury
laws, the Malvetn Weekly News
makes this strong point:
To one who upholds the usury law
there is nothing illogical in another
law prohibiting merchant from
making greater profit than 10 per
cent II it is right or expedient to
limit the profit on money it follows
that it is right and expedient to
limit the profit on goods.
The News is correct. Whether q
man derive his income from lending
money or selling dry goods, or gro
ceries, the principal is the same. If
it be wrong-and it would bet
limit the profits of man engaged in
commercial pursuits, why limit-in
cases of contract-the profits of a
man whose commodity is money?
The price of money, like the price of
any article OF commerce, is regulat
ed by the question of supply and
demand"
And, upon that clipping | want to
make a few observations. will
preface my comments with the re
mark that for fallacious and illog
ical conclusion have never yet seen
tie above extract surpassed; and
while men who conduct public jour.
nails lend their columns to the pro
mitigation of such crude and falla
cious ideas it is no wonder that err
rer prevails in the land among the
people. Aad that 1T would be as
right and expedient to attempt by
legislation to limit merchants
profits to ten per cent as it would be
to limit the legal rate of interest to
ten per cent. is so crude, so unreas-
enable, so illogical, so falIacious and
so totally absurd that | feel justi
fed in saying that the advocacy or
endorsement Of it ought to entitle
the advocate or endorser thereof to
the blue ribbon as "Crank." To
endorse such an idea betrays such a
want OF thought, such paucity of
discernment, such a total ignorance
OF common business principles that
the public safety is absolutely en-
dangercd when such men fill our
legislative halls and preside over the
columns Of our public journals.
Why, Mr.. Editor, there is not a
merchant in the State VITO can pay
the expense Of carrying on business
on profit of ten per cent lnsur-
ance and tax alone in many instanc-
es amount to ten per cent, TO say
nothing of rents, clerk hire, fuel,
lights, water aad other expenses IN
voved in conducting business. The
deterioration in the value OF goods
from shop wear, dust, leakage and
evaporation, changes in STYLES and
fashions, ravages of moth, mice,
weavil, are contingencies that mer.
chants must meet. How supremely
absurd to say that man who is in
business subject to all these OK
penses and loss-contingencies Should
he limited in his profits to the same
per cent allowed money lender
whose commodity (money) is ex
empt from all such hazards, which
can never deteriorate in valae and
which is never loaned without being
secured absolutely beyond all chance
OF loss The man whose judgement
and knowledge is so shallow as TO
endorse such proposition ought TO
be In the insane asylum. He is as
certainly out OF his place in the leg
iislature or on the editorial tripod as
would be mad bull in china shop.
BUSINESS.