The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-02-10
ANTONIO AND SHYLOCK
Compared BY Senator Harris in
the Debate on Interest.
Says the Former Was Worse
Than the Latter.
Senate Has a Long Debate on the
Question of Interest Rates.

whole yesterday afternoon 1t precipi-
tated a debate in which the PopuIists
divided On the first vote the bill was
defeated. The vote was reconsidered
and through the efforts of the Populist
steering committee in getting absent
members on the floor, the final result
was a recommendation for its passage
The bill was introduced by Senator
Sheldon CPop., Franklin county, and
provides for the regulation of loans in
this state. The provisions of section 1
of the bill place the rate of interest to
which a creditor is entitled, when no
other rate is agreed upon, at per cent
Section ? provides that the greatest
rate of interest that shall be charged
shall be per cent, and section 8 pro-
vides that any such bond, bill, promis-
sorry note or other instrument of writ
ing on (which a greater rate of interest
is agreed to, shall be wholly void. IN
der the provisions of section 4, every
person who shall have paid, either di-
rectly or indirectly, a sum greater than
per cent may recover from the person
receiving the same sum of four times
the amount of money so paid above the
rate of 8 per cent. None of the pro-
visions of the bill shall apply to con-
tracts now in existence.
The bill was first considered by the
judiciary committee and was referred
back by that committee with the rec
ommendation that it be passed after
being amended by striking out section
g. This amendment was considered yes
terday afternoon, and after consider
able argument, defeated When the
vote on the original bill was called for,
Senator Lamb CRep) claimed the floor
and opened fire. He said:
4 want to state in the start that the
only men to be benefited by the proviS-
ions of this bill are the curbstOne
brokers, the men who ply the nefariOus
trade of usury- 1t is one of those vi
ciOuS measures we have heard advo-
Gated in stump speeches in Kansas for
the past six years, and places the man
who loans money at the absolute mercy
of every contemplate scOundrel in the
land. 1t places a premium on the vfO-
lation of the law, and should be enti-
tied an act to Cypress the poor an act
to grind down the weak and drive
capital out of the state.
ITO reduce the rate of interest from
10 to per cent will work a hardship to
the poor people of the state on general
principles. If this bill becomes law
it will practically render money loaners
unable to make small loans at all, and
it is the poor people of our country who
ask for small loans Its effect Will be
to prevent these poor people from Dor
rowing money.
Il repeat that this bill belongs to a
cious measures which the party form
ing the majority of this senate should
be afraid to pass-that is, if they mean
to stick to the declarations and prom
ises made in the last campaign"
Senator W. A. Harris followed Mr..
Lamb and spoke in opposition to the
bill. He said:
Il admit that it is wise to consider
at all times a means of regulating the
legal rate of interest, but this partic-
ular BILL believe, violates every meas
ure of equity and justice. 1t seems to
me that it shows too plainly desire to
strike back a desire to get even, and
this is a sentiment Mr.. President, which
has no place in the actions of this body
We are continually hearing OF ShyIock
and the pound of flesh, and we lose
sight of the fact that there were other
characters in the Merchant of Venice
besides the exacting Jew. Shylock
was indeed a contemplate character,
but in my estimation Antonio was more
contemplate still, and deserves the
scorn of manly men and brave men he
made a contract with his eyes wide
open, and then played the baby act by
calling upon Portia to help him out
The most despicable character that can
be imagined is the man who makes
contract and then uses the law as a
means to crawl out of it.
4 believe. Mr.. President, that this
bill places a premium on raScalIty;
places a premium on the actions of that
most contemplate character known to
history. the inforner I think ii is just
" entitled to the negative vote of every
fair minded member of the senate
Senator Ryan Pop) was the next
speaker, and he, too, opposed the bill
las a Kansan, as a man who has
spent the years of his life since a bare
footed boy in this state, who has passed
through the panic of 1873 and the grass
hOppers of 1874, 1 oppose this bill AS a
POpulist, I say, that If you pass this Dill
you will bring down more misery on
- -, of he ct he a q
ties combined.
Senator Crossan CPop) said:
There has been no more important
measure before this senate than the
present bill. In my Judgment we can do
nothing worse at the present time than
to pass this act. With all due reference
to the gentlemen who form that class,
I wish to say that all the honesty of the
country is not confined to farmers,
and that we should have the same
friendship for the banking interests as
we have for the farming interests I
believe that the passage of this act
would bring upon US a calamity that is
little dreamed of. Knowing, as We do,
that the banks have suffered as severe
" as all other institutions by the pres
ent general depression, L say that we
can not in all justice, pass the law
Before the vote was taken senators
King and Young PopS) spoke in favor
OF the bill, Senator King declaring that
no better law had ever been placed on
the statute books of the state The
vote was taken on a motion to recon-
mend the bill for passage, and resulted
in a tie, as follows:
Senators voting in favor of recon-
mending the bill for passage were:
Messrs. Armstrong, Benson, Braddock,
Cooke, Forney, Hart, Helm, Helmick-
Jumper, King, Lupfer, Mosher, Pritch-
ard, Sheldon, Titus, Young. thinner
Senators voting in the negative were
Messrs. Battey, Coleman, CrosSan
Farrely, Field, Fulton, Hanna, Harris.
johnson, Lamb, Matthews. Morrow, Re
SER Ryan, Shaffer. Sterne, Wallack-
The motion was declared lost by tn
chairman on the tie vote However
when the question of adopting the re
port of the committee of the whole cam
up a second vote was taken on tn
rnntion and four ROpulist senator's. " b.