Year: 1877

part or all of the interest the money
shark will take his chances. But if you
enable the borrower to avoid the whole
contract by pleading usury, the most
greedy man will hesitate 10 put out his
money on such terms. IF it is worth
while to cure the diease is it not worth
while to make the medicine strong
'nough9


eMoreover this IS the precise aenaed q
prescribed Gn NeU York, DeInaC0Te, Vlf-
qiqaia and other st1tes-THEY ALL FOR~
FEIT THE CONTRACT. Is the law which
prevails in the greatest COM
mercial state Of the Union, New York,
too severe for Minnesota? In New York
money can be had for three per cent
year in Minnesota it is loaned at three
per cent per MONTH


In some Of the states the usurer is
liable to six months Imprisonment, in
others to $500 fine, in others to 500
fine etc. Is not this more severe than
the forfeiture Of the contract?


But say some, if you regulate the
price Of money why should you not reg
ulate the price of beef or wheat or labor?
The answer is plain money IS the
creature OF government; it has no function
save as government gives it to It, 1t is
the governmental stamp on the gold
piece that makes it legal tender, no. the
amount of gold in it. If government
creates money has it not the right to pref
scribe rules for its use?


Again; beet, wheat and labor are reg
ulated by the law OF supply and de-
mand. II beef is scarce and the price
Nigh the remedy is to produce larger


quantities of beef and so bring down the


price. The amount of money on the


other hand, is limited, it depends SO far


as paper money is concerned, on the


will of the government while the sup


ply OF gold and silver iscontingent upon


the yield of the mines. If these mines


give out the supply ceases. The supply


of beef, wheat or labor cannot give out.


But it is said, you should not pass


usury laws because they will rot prev vent


usury in every case the law will be


violated. Is not every law more Or less


violated? Are not the laws against theft,


arson, rape. murder, ETC., all violated9


Would you therefore repeal those laws


aud throw open the prisonse


But, says another, you will drive money


out of the state. We ask, where will


it 90 to when 1t will draw
more than 12 per cent? Nowhere
save in such remote, unsettled region.
as Arizona or New Mexico; or to tht
/ tax-ridden impoverished southern state.
: And we say moreover that it were
, better it should 60 and at once, il it viii
l only consent TO stay in Minnesota on con
i dition that it may impoverish and de.
s stroY the people by charging them "a, Sc
: or 80 per cent. per annum. None,
: loaned at such rates is a curse not bles
Q sing It breeds universal poverty.
The man who is not satisfied with 1:
per cent. per annum. playable in ad


vance. in land where the average ear
nings of property is, by the United State
census, less than per cent. per annum
4 should be gently carried out of the stat
on rail; and In case the weather
i cold he should be comfortably clad in
covering of swans down adherint
: through the instrumentality of pine
D tree extract.


1.-THE grasshopper afiict any great ex
Q tent of the state this year, the money
sharks will take what the grasshopper
can not eat, and it will be amusing t
: hear members of the House explainin


to their excited constituents, the reason


why the Usury Bill was defeated in th
;. House. 1t will be our pleasure then t


"mock when their fear cometh !" but W
shall do it more in sorrow than in anger
y /