The daily state chronicle. [volume] (Raleigh, N.C.) 188?-1891, 1891-01-31
a low rate Of interest means good sa

90 .uo O'dto tndC pays .;er cent
Mr. Twltty said ne was satisfied that
iand could not pay eight per cent. He
Favored the substitute because it would |
give time for business to adjust itself to |
II. lie did not consider whether he |
wonid please people or not. He wanted
TO do right. The capitalist can take care
OF himself; we must take care of the
masses. de favored the substitute. but
might vote against the original bill. He
considered this the most important
measure that had been before this body
Mr.. Allen, OF Granville: We should
consider something else besides towns
and loan associations The farmers are
The support of this country, and we
ouSnt to look to the interest of the men
who own farms He was opposed to favor
lie legislation, but if anybody must have
| a favor, he wanted to reach down and
help the helpless.
The money of Virginia has not flood
ed North Carolina on account of our
higher rate of interest.
Vlrginians get money from banks at
SIX per cent, easy as We can at eight per
cent. A low rate Of interest gives conf
dence In security.
Our towns are prosperous, but the
country is not. A high rate of interest
caused 1t. If | can't afford to use money
on account OF high interest, why should
| borrow it2
The farmer makes per cent Can
&c afford to borrow money at per cent?
Can the Alliance members Of this Sen
ate stand on our National platform and
vote to compel our people to pay high
| N ot "a
government to lend us money at two per
cent?
Mr.. Bowers said the farmers will be
poor as long as they borrow money. If
men could borrow money without inter
est many would not be able to pay it.
, We had better drive capital away than
to drive cur people away.
4 Mr.. Williams said he introduced this
!, bill in 1885 and it has been before the
people ever since. Every restriction OF
interest has been advocated by the best
> men of all ages and all nations. High
. interest was the beginning of the fall Of
the Roman Republic. After Rome be
came corrnpt interest went up. Brutus
loaned money at as per cent, and ht
e supposed that would suit the gentleman
;, from Wilmington. The robber Baron
= of France brought on the Reign O
y Terror in France by usury.
= Six per cent. was the legal rate in thi
= State until the carpet baggers took tn
- State in 1868. This is not Democrat
20 or Republican measure, but q measur
:. for humanity. Let us go back to tn
~ good old days of our fathers. If We ar
ie going to have s per cent, let US have il
s, The widow and the orphan cannot ge
- but 6 per cent, and why allow the ric
- to have 81 Kellog says that when
. man says low interest will drive none
., out Of a country, he does not know Wha
~ ~ he is talking about.
AZ Cheap money goes out to build raj
g roads and factories, but money gouge1
ots hold for 10 per cent and mortgage O
u poor mans home.
Adam Smith said no sober, though
oi full man would give 8 per cent for none
II IN in England. Does the gentleman fro
ne Wilmington regard Adam Smith as goo
authority as himselfl If the gentlems
ol will go to old Pender to-day those farr
es ers will say, "We cannot afford to DO
:u' row money at 8 per cent" The wise
ip. and best men of the State for two hu
dred years said per cent. is enough.
Via There are about $3.50, 10000
ut Of property in the State and ff
~, millions of this mortgaged at 8 per Ger
Would it not be better to have it at 81!
Let us have but one rate of interest, q
vas one for the orphan and higher one
1as the spuculator.
Go through the country and see t
ose condition of our people. Their fari
be- are being sold. Talk about home, swe
YER home. These free country homes
md passing away. How long before we "
md have no free homes? Bad crops year All
ore year and high rates of interest are DIR
her ing our people from their homes. Oar
we stop it9 Will we not stand by t
,rc- peope2 The farmers are begging
ose relief; the women and laborlng men
ose the land are begging for It.
Wit Mr. Green, of Wake, hoped he did
favor this measure because he was a +
an mer or an Allianceman. The gent
and man who argues for the other side
The the question certainly speaks from
two head and not the heart.
NY In the good old times we did not h'
ing Wall street to manipulate our mon
The great prosperity of Alabama cor
,uth from her iron mines and not eight !
aim cent interest.
There are about 1000 mev in Build
are and Loan Associations and the gen
,ress man asks me to vote for these agalns
ct to million who must go down under
tate present law
it is When money is high, land is i
ding This destroys confidence, and when c
more fidence is destroyed, money goes
oros- hole.
per- God made law against usury,
earn we cannot improve upon Gods law.
inQs The issue in the last election
,ears money more than anything else. t
lmu. ticians tell us in the fall our dist
This comes from production, and IN
J. He spring from laziness. 1t ls from
tions power of money to oppress.
nnot Talk bout scientific farming, l
of no never do it as long as can nlahe
a OBJ penses. The farmers who are succ
ing are those who make money $
es of other way. l am urged every
es. "Green, do something for us!'
that you help me do 1t
out In my own county, III one 1o"ns
there are only five men VINO own
a. the land they live own. Say my people