The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1889-03-07
USUISY AND USUKERS.
A Timely Article Oh the Subject
by an Intelligent and Well In
formed Lawyer.
Written for the GOLD LEAF.I

by an inCeltfSe9I aha -" clI LII
formed Lawyer.
Written for the GOLD LEAF.I
"ue who covcts wealth disdains to wait,
Law threatens, Conscience calls, yet on he
hies,
And this he silences, and that defies,
Fear, Shame, he bears down all and with
loose rein,
Sweeps headlong Ger the allurins paths OF
gain"
HENDERSON, n. c., Feb. 81, 1889.
Before our Legislators adjourn there
is one matter which trust will chal-
lenge and obtain their especial atten-
ton.
The people OF North Carolina are
to-day battling with two great enc
mics (amongst many others) to the
progress, development and prosperity
Of the State, to wit: Usury, and De-
fective Registration Laws.
1t is concerning the first that now
write.
Let US examine the natu,e and his
tory of Usury, our present AazO touch
ing the same and the remedJ for ex-
isting conditions.
Says Pufendorf, "Whether Usury
which is generally given for the loan
of money be repugnant to the Natural
and Divine Law, is question, that
has been warmly debated" How the
old Hebrews explained the Divine Law
relating to Usury, Selden gives large
account. Among other things he
says, "They thought it was unlawful
not only to receive but to give Usury,
and that every one concerned in pro-
curing such bargains, contracted a
guilt"
Turning to the Old Testament we
read:
Elf thou lend money to any of my
people that is poor by thee, thou shalt
not be to him as an Usurer, neither
shalt thou lay upon him Usury.-Es.
2a:75."
"And if thy brother be waxen poor
and fallen in decay with thee, then
thou shalt relieve him;
/ Take thou no Usury of him, or in
crease, but fear thy God.
Thou shalt not give him thy money
upon Usury, nor lend him thy victuals
upon increase. Leu, oh. S, Us. IS,
SO, 81.
"Thou salt not lend upon Usury to
thy brother; Usury of money, Usury
of victuals, Usury of anything that is
lent upon Usury."- Deuk, oh. %, q.
10.
Such was the Mosaical Law. Con-
corning the same, it is said, "1his
Law obtained only between Hebrew
and Hebrew" OF a Gentle they
might lawfully demand Usury, for we
read, "Unto stranger thou mayest
lend upon Usury but unto thy brother
thou shalt not lend upon Usury." -
Dent., oh. %, y. 20.
The Hebrews thought themselves
commanded to charge strangers Usury
in order to drain them of their riches,
and weaken those nations which God
had destined to destruction. But in
regard to the strangers, that is Cen
tiles, Leo of Modena, says, " The Law
was to be understood as applying to
the seven nations only that dwelt in
Canaan, and not to the other Gentiles;
of them it was not lawful to receive
Usury."
Now why was it that the Hebrews
were forbidden to charge one another
Usurya Puhendorf gives the reasons,
as follows, "And the very condition
of those times furnishes us with the
principle reason for the law against
Usury amongst the Hebrews. For
that nation had then a more plain way
of living which consisted in pasture
and hnsband,y, and in such state no
one borrows but when he is pressed
with necessity. Since the gains in
such cases could not be but very small,
the least Usury must needs be very
buythensome. And where the money
borrowed is laid out upon the neces-
saries Of life, it will be next to impos-
sible ever to receive it, for how can
your labor be able to bring you out of
debt when it was not sufficient to sup
port you from falling into it?''
Grotius also says, The chief riches
of the Jews lay in Agriculture, whereas
most of the neighboring nations won
vast riches by merchandise and there
fore Usury was allowed the Jews IN
their dealings with them, which with
very good reason, was forbid to be
taken of one another; for Usu,y laid
upon Agriculture is every aA<re ob-
presstve."
But now, says Puf1endorf, "Money
is often borrowed for other ends,
namely, in order to increase and i'm
prove ones wealth. When a man
borrows money for this purpose, there
is no reason why he should not be re-
quired to share to some degree at least,
the profits, or expected profits, by pay
ing any charge agreed upon.''
If you will but observe the condi-
tons which caused the adoption of the
Mosaicial provisions against Usury
amongst the Jews, exist in North Car
DINA to-day. Our chief riches too,
depend upon Agriculture" and we