Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1897-07-07
THE CURSE OF INTEREST.
The Demand for System OF Government
Banks Is More Important Than Any
Other.

into my possession, and notice there
in, under the heading of ''Usury Laws
what appears to be a reply to an arti-
Gle of earlier date. by Rev. James B.
Converse. The following attracted
my attention.: "Usury laws, on the
other hand, have an educative force.
But if they teach that interest above
the legal rate is wrong, they also teach
that legal interest is right, and the
one teaching balances the other"
am not sure that l fully understand
the position taken, but 1 infer that
the writer holds that legal interest is
right, anything more than that is
usury and is wrong. That usury is
positively and repeatedly forbidden in
the Bible is fact so well known that
it scarcely need be repeated. That the
word interest" as now applied to pay
ment for the use of money or other de-
ferred payments is not found in the
Bible is also true. What is usury but
something given or paid for the use of
money or other valuable considera-
ton?
What is interest but something given
or paid for the use of money or other
valuable consideration?
Manifestly the original meaning of
the two words is identical. Why have
they come to have different and dis
tinct Specifications? Is uncharitable
to believe it is because men have been
obey the laws and follow the customs
of men, rather than obey the laws of
God?
Since usury is the only word found
in the Bible to express the taking of
compensation for deferred payments,
it is mere jugglery and equivocation
to assume that legal interest is allow
able and only something in excess
thereof forbidden. If the $4,000, 900
church members of the United States
were unit demanding that Gods law
should be obeyed, in reference to this
or any other matter, it would become
mans law, and appear upon the statute
books of the nation and the states, and
be as generally obeyed as other laws.
But let us. consider the question of
interest paying, in the abstract, that
we may the more readily determine its
justice and expediency. We will illus
trate by an example of what it will do.
Suppose a young man at the age of 81
have $4,000, and keeps it at interest,
compounding annually such portion of
the interest as he is not obliged to ex-
pend.
He can sit down in idleness, do moth
ing to benefit himself or his fellow
men; he can marry and raise children,
and keep them in idleness, all live in
comfort and even luxury, and after he
has lived for so years, curse to the
world and burden upon labor, he can
bequeath to his children much great
er amount wherewith they can repeat
the process of living the lives of rich,
arrogant, idle and useless paupers.
Yet the divine decree is: I'm the sweat
of thy face shalt thou eat bread,
and it has no limitations, but applies
equally to all, and it is supplemented
by the sentence, "If any man shall not
work neither shall he eat" Nor are
these commands an indication of di-
vine displeasure, but are mereiful and
benefcent, and the only means where
| by justice can be secured as between
man and man. Take another instance
illustrative of the comparative power
of money and manhood to accumulate
wealth. Suppose two young men ac-
companying Columbus in 1892 to still
live and retain their physical and
mental powers. One has 81, and con-
cludes to seek fortune by becoming a
money lender. He put his money at
five per cent. interest, compounding
annually, and securing a living inde
pendently thereof keeps it at the work
of accumulation to the present. The
other man. having no other capital
than brain and muscle, concludes to
become laborer. He works 800 days
each year from that time to the pres
ent, and besides living for each days
labor saves 81.
Now compare results. The man
would have earned Sl21, 800. This
would purchase IL estates at cost o.
$40, 900 each, and would consequently
make IL families of six persons each
or ~ people, as wealthy as they neeC
to be, and leave $1,000 to be distrib
uted. The dollar would have earned
s435, 2O7. els, which would buy 1852,
estates at $4,000 each, furnish wealth
sufficient for all the needs of 43, So
families of six persons each, or 2TO, 12l
people, and leave S7,61s TO distribute.
The earnings of the dollar woult
make we'll to do all the people of
great and populous city, the earning
of the man would only supply littl,
hamlet of a dozen families.
1t would take $3.50 men, each work
ing and saving as above, to keep pac
with the accumulations of the dollar
and they would still be 2,61S short
But the labor of the men would hav,
produced vast amount of wealth anc
benefited and blessed multitude o.
people, but the dollar with all its ter.
rible power of accumulation would
produce nothing, but like an immense
sponge absorb the products of the la
bors of others
A man commencing at the birth O
Christ. to work and save 81 per day
for 800 days each year, would at the
close of 1897 have 1869. 100, or littl.
more than half million, an amoun
that in these days of great fortunes
would be considered but a moderat.
estate, yet we talk as though meI
: Lcould rightfully possess millions
though we know and admit that labor
alone produces wealth. But 81
placed at five per cent interest at tn,
birth of Christ and compounded annu
ally, would have earned an amount 81
inconceivably large that the entir,
earth, though mass of pure gold ant
valued at 81 for each 25 $40 grains
would only make partial payment o