The Pulaski citizen. [volume] (Pulaski, Tenn.) 1866-current, 1889-01-17
Interest.

Interest.
1t is rumored down here that an
other 10 per cent. Interest law will
be passed by the present general
assembly. Now # we all had money
TO loan, we would say amen to the
proposition, but as about all of us
have to borrow when We get it.
We say some other word THAT is
not very complimentary'to the 10
per cent. law. We tried it once and
IL was failure, and SO times out
Of every 100 those WHO use money
at 10 per cent. will be failure. 1t
was so in the past and there is
nothing to make IL any better in
the future. Our pres ent lawiul
rate of interest is per cent. How
much money could be borrowed in
Giles county to day at that per cent?
We will place the borrowers on the
witness stand and let them answer |
the question. We will venture tn
say you can't find man in Giles |
county that will loan you $4,000 |
and at the end of II months receipt
you In full upon the payment of o i
ly $4,000. There may be some,
but we don't know where to find |
them and If you know Of such,
please let us hear from you by re-
turn Hall. Our private opinion is
if you will raise the curtin and
make a thorough Investigation, you
will find that we already have 10
per cent. law under full Roadway,
run upon the wild cat system.
Now the best thing that could be
done for the masses, would be to
reduce the rate OF interest to per
cent, and then money could be had
for about 6 per cent and that is all
a man can afford to pay. Any
thing over that is financial murder.
How many occupations, plo'es
sions, or callings in this state. that
are paying 10 per cent. on the in
vestment? There may be some but
we don't know where. How map,
farmers in this county that are
making 6 per cent. on the invest.
ment2 Echo answers how many.
If the merchants, mechanics and
professional men can't make 10 per
cent. and the farmer can't make 6
per cent, how in the dickens can
we prosper and pay II per cent?
Which we will have to do just as
soon as the rate of interest is raised
from & per cent. to 10 Der cent. IL
m axes no difference what the rate
per cent. Is, there always have been,
are now and always will be men
who would rather give higher rate
Of interest than it is lawful to col
lect, rather than let their good
name 60 TO protest There always
have been, is now and always will be
men who ara watching for that
class of men and when found will
toss them in the financial mill and
grind them to powder. We will
make a proposition. Let US can.
vas the state by counties and dis
tricts and if we can find more men
that have money to loan, than we
can men who want to borrow; then
we will instruct our senators and
representatives to vote for 10 pei
, cent. interest law, but if we find
more who want to borrow, hen we
will instruct our law makers to
vote for per cent. interest law.
That is fair proposition. We be
lieve we'll make another PROPOSE
\ ton. Let our senators and repre-
. senlatires canvass among them
selves and if there should be more
loaners than borrowers, pass the 10
, per cent. law, and if more borrow
ers than loaners pass u 4 per cent.
! law. That proposition lis far; or
we'll do this and be satisfied: what
ever the result may be; not have
any canvas, but let every man who
ia. money to loan, vote for the 10
per eeat. law, and all who have TO
borrow vote for the 4 Per cent. law,
We don't mean to cast any tfiac-
ton on our Legislators for We be
lieye they are good meo, or ought
TO be, and that they are like the
fellows wife, not only virtuous but
clear above suspicion. We have q
better opinion OF them than to
think Tor a momeut that they
would be guilty of forming a 10
per cent. trust company. No
doubt but what the Legislative
Halls will be besieged with money.
sharks in order to engineer all their
pet measures" through of which
the 10 per cent. interest bill (if pre-
sented) will be among the greatest.
What can man follow in this
coantry that he can get 10 per cent.
clear profit out of? We don't
know, do yon? Well, if man
can't make profit on his invest
ment he had better quit. Our 10
per cent. law was very unpopular.
Instead of being benefit to the
country it was curse; we were
like the girl that got married, she
said she lived over il, but had new
er looked like anything since. We
4 llfto oFNA ~ wv WOlC So tateIuGu
and fatted whanged and all tore up
we have never looked like anything
since," and don't suppose it would
he any sin to worship our looks
and feelings as there is nothing else
like them. In conclusion we will
say, let the q per cent. interest
stand just like i: is. It's thing
that won't bear modifying, nor ad
mi, OF any provisos. 1t mus. be
yea, yea, ma, na. IL there is any
act. passed, making 10 per cent.
legal by agreement between the par"
ties, II won't be two minutes after
it becomes q law until every one off
US will have to pay 10 Per cent. and
ss much over as We can be wild |
Gated into. Man Is SO constituted
be has to be watched and all the |
brakes thrown on when she deal
ings are between self and pan, but
you can trust him little when its
between man and man. II You do |