The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-11-30
THE BOARD OF TRADE FITS II
another Vigorous Protest Against
the TWittY Bill


The Twitty bill is getting a black eva
from Savannah business msa. The cotton
exchange passed resolutions day before
Yesterday against its passas :, and yesterday
.ne BOARD Of trade followed suit. Ths fol-
owing resolutions were adopted:
MH5EREAs, The bill now pending before the
: SsIs!a.1re known as the Twitty bill mas a ten
uoncy 10 deter capital from lowing into onr
state Tor loan and Investment. and
hEREAs- The said bill is also c ,Iculafed To
oeyes our own people having money to loan. or
g sen on time, from giving the usual &C
Somnodatlons tothe debtor classes: and
WHEREAS, il is simple Justice and equity. that
corporate and individual borrowers or pur-
clasers on time, who fail to meet their obi "a
lions ana thereby entail the costs and other
charges incident TO litigation, should bear these
burdens, as the prescribed rates of interest in the
state are Inadequate to cover them and afford
tne creditor ella sses even the lowest rate of
interest there N for the use of his money or the
credit granted: therefore, be it
ffeso red, Tnat this body respectfully request
our senators aud re. rssentatives in the lagis-
y ure 20 secure for said T~itgy bill the most
CAREFUL consideration before final action is had
upon It, as, in thu opinion Of this body the pro-
posed bill enacted into law would be ex-
remely injurious and damaging TO both the
debtor and creditor classes in our state in that
It would tend to drive out of the state large
sums or money now seeking emplcyinant here
and that have mat erially aided in lowering the
prevailing rate or interest; In that il would drive
from the mail OF trade our own laW-abidIug
money lenders and creditor classes. and foster
the growth OF an usurious class of -nders and
mercha1 ITS, VINO for higher rates of interest
are Wiling to take the greater risks, and in
that " lere the greatest security to capital ex-
lists. the lowest rates of interest prevail our
state, as well as our people in their individual
and corporate capacities would thereby BE-
placed at diSa Vantage with those stat s.
countries and communities where capital and
commercial credit have all that protection lust
and proper laws can place around them.
Res JtUed, turtle Tlat copies of these reso-
lutions be Immediately transmitted bv the sec
rotary OF this board of trade to the governor of
Geor ia. the president of tine Senate, the
speaker of the House the senator from the
FIRST district, the representatives fro n Chat
ham county. and to all of the commercial
bodies OF this state, requesting these latter to
taGe action upon them Immediately and
transmit the same to tler local
ssnators aud representatives, and that
the Savannah Times and SAVANNAH
MORNING News be reques, I'd to publish thess
resolutions, and the press of the state generally
IS specially requested to give the same pub.
hcatlon, ths i'm port auce of this matter not being
confined to any 'ction, as must be manifest to
all thinSing people.
The resolutions were submitted BY Messrs.
J. T. Williams, D. q. Purss and C. s.
Ellis. a com nittee appointed for that pur-
pose. Messrs. Purse. Williams and John
R. Young were appointed committee to
confer with Hon. g. NJ. Ryas, and were
empowered to take such further action as
In their jldgmen MY be necessary.