TERMS OF PUBLICATION.i
--- •
Tim Baanrosis Smarr= •Ls published every
yLureAss ihyralair by S. W. ALA= at Two Dollars
pe r annum to *dr/WM
advertbsing to all cases exclusive of stibacrip
Lion to the paper.'
SPECIAL NOTIOES inserted at rArresar =raper
Ime for first insertion, and Ppm Divas per line for
subsequent Insertions. .
LOCAL NOTICES, sane style ai reading matter,
limns czars • line. •
ADVIEBTIMIENTS will h" inserted according to
he ;allowing bible of rates •
ly liv I 2ra; I Iro 61n
igeb I $1.50 11.00 I 5.0,0 I .6.00 I 10.00 I; 15
2.00 I 6.0* 4.00 I 10.001 15.00 120
I ache,
1 iir-hus
_ .
tuchea I. 3.00 I R. 50 I 1R•80 I 18 - . 15 I 35.0111,35.00
a : column 5.00 12.116 - I 1840 1 22700 isn.no 45.114
===_m===2=l
column I 20.09 SIAM I 60.00 180.00 I $l O O SIN
,
ktminildvatara and eteentar's Notices, $3 ; Audi
t lr's Notice., $2 62 ; Business Cards, Eire lines, (per
e $5. additional line,' $1 each.
'Yearly advertlysere are entitled to quarterly change&
ranei ent attvraementa ron at be paid for in advance.
tit Resolutions of rorsociationa ; earr.munlctitiona
o f i.lanted or individual internat. and notices of War
r! wee Prut Oesth a. exceeding ilvellnea, are charged
U csvra per line., '
JOB PRINTINf4 e very land, In Plain and Pancy
col era, done with neatnesa and dispatch.. ffendbille.
Bit:elm (lards. Pamphlets. Binhests. Statements, /to.
of every variety sea style, printed at the shortest
notice. The itrycamve. tree is mall aripplievl with,
Power Preece*. a moil sssortment new type,,And
yerFthlinz In the Printiv line can be executed in
be most artistic ma nner and at the lowest 'rates.
vamp • ylr aur.v. , '
• 131731 - IT.M.; CARDS.
TORN riuN le NE, RSMTTFI,
11051ROET016. PA.; pays paeldenlar attention to
coning Bugdes.AVIWPrIP, Sleigbri.-ke. Tire set and
repairing done on short notice. Work and charges
guaranteed satisfactory. / 12.15,69.
ADIOS PEN3TYPACRER,' HAS
sTain elgtahli:shed himikelf in 'the TAILORING
•1 7 STST'fig. Shop ore? Rockwell's ?tore. 'Work of
'very deserintion done In the Isteet "styles.
Toarands, April 2t, 1147n.—tf: - -
S RUSSELL'S •
Grs..7IIRoLL
INSUB.ANCE AGENCY,
r. 3'7&—tl TOWAIMA., PA.
: TY;
. '
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?TAM UNDERSIGNED. ARCH--
A- TECT .I.ND Imr.r.nEn, wishes to infortd_ the
cit!lnia of Towanda anti vicinity, that. he will give
particular attention to• drawing - plans, designs,and
, ! p , iti...ations for all manner of buihringa, private
and public... Superintemlenre given for reasonable
-oni,',ensatirin. °Mee at residence N. E. corner of
second and Elizabeth streets.
. _J.. E. ri:EmsriNG,
ects'7l • Eox 511. Tow.an.la, Pa.
• .
MT .W. KINGSBURY, .
. _
. • , - ~.- .
. .
SEAL ESTATE, LIFE. FIP.E, A: ACCIDENT
- INSITR.A...TCE AGENCY.,
, .
o.sce, corcer of tic. enl Mato Rieets,
- ; •
, lkfarch 13. 1572. , TOWANDA, PA. .
SASH, BOORS, tk.'_ , TD BLINDS
I ant proogre.:l to fnrnigh Doors4tagn
an,1 . 11'?:r...18 of any gtylg, gtzg, or th:cknoaa. on short
ic< - 4 , liana in yonr ,t,.n clays hefore yon
want to Os. the article.‘, and be s - are that on will
:et d-trirs that will not shrink cr eaell. Terms cash
19. 1:=71. P ASH...
p„.A. T 0 X &,:B 11-0,
-n::::t~ :;,
410 T.,, HIDES, PELTS, CALF
- ' SaiNS, TrjtS., -
•
1,11 at a:1 tir_ira
in 31. E. 3: VLain-rt.,
DA Y70 , 4'. 1 E0`..1.1. '7O
UM
F I It 7%1!
1: W
2; I.: Tr a 0 6 0 ,c, LOW PRICES!
Al MQIif.OETON, PA
TrACY HOLLON
141 - ,'. - 4•11:4:11i-n'i to 4:1; - 04:-erlos and L- Ir!r:
144:4•r4 , 4 , 6,410 OIL Larol,,, Citirr
4,15.
41 - a• CO, 41i4nrs Pun ,
1: the '` , ., st f,r
;,4•.4y. Al 4 . c ods +4)i•l2; ;144 , 194.4.4-F4t prices.
4 - . • 7:4 c . .. r.::.r.4 4 .4 41 a; (;4
4,1.4 aca 11. '
Tl:'
ISM
IKERY! CONFM'ITIONERL!!
GR 0 C--E ThIES!
'Phi leavci to rEttirn thAnks.t.o
tll ,- -,p201)1,-- of 'Pow".ll-1.1 ar.3 %.1.7;111t: for the very
potronago' ..r.t. , 13 , 1 , .1 to hi - u dnrifla the
A na , eaqotL, and at t 1 1 ,? ti!C.^ to girt , notice thrt
!."2..i a ',lt , : ta him to; s -
1_17,- - -cr ,,
..-• I • I
t
IV /iLI/ '
i Si'.'
11.• .41
1.4 ..vn 1'2.71
0.1'7 .11!'.
Gak.II.I.NT_I.T, S! . tii .1; I'A.C,TiON
L - 3..1 214 4 lat•A
t--- ' - AJNINC.- ROOM,'
I.Vberu..ll.• l!fq, 17i.a!s
eatt, ~ .
1 ,- 7n , rs: ?.•-: ot:ortt t
Part:c=. -1 witli If , C:iins. Fruit,
~4Co.7lfecti• - ry a short -
14 , 1w.r..11)m . placo, tliz• Meats
I '
TIOUACE.S.COWLES.
GE O. H. WOOD kkz•CO•
'PFIOTOOII_cPIIERS, •
.:I"UW-INDA, PA. " -
Inttn:isge of the
y• .r. w‘ir,:f infor(n all war:tin:: P;etnrca
we L.re...1.11a.1.11ag to
• •
.k - ND
•
A. 7.111 moping ! aptrnywa 7^,lndei, of
print.r.,; and ret - .1.Lit..,; iu ordvi to F-.cure
Fil;Fr, rFT" •
_ .
.1- - r 1 th wo
W-ter 0 , 1 "-:
of •
AYI) V5:.:71.171..r , Vi
to the tir_leposzl
,n tt.-c.5. ac tai cc
resu:ig. - -
W".• ..r.- ..+..
' F
. .
' v: patt, - ,r-, , an I f 7.-te COI styles. :ID I ft:r;
I front priceq.:
4 I -
!_] l o TILE -- CITIZENS OF I Pl..ttiN,
httehti.,h iy speziallT
t. , ,hat the. S.,th,nel 1:11,11is Pow
rET.I4,Co F713 ,,,, r1pt10n4 to the Capital
4.,f
, t i ) 11 .),):: 11 .. 1 1 il•ciarti of Flati.r.c6.. ,The
114 1!I r:rce are to 1.))) etn"rithyed
7: 1 ) t :or ch.. Ititern4tiottal
. li t , : with 00
• t •; ti it. the 1ie:6641:e
n..m. of ercry
t-) pityv to r.)mita4 ooratiot thtt 9:10]
b.rth,O.,,y Of the natiou. Tar, phir6*. of
.k ....• eqbA•ribeFiji,*fil
V. A Illi“i,1131:.'V
Ar tf}'!ll:l'..; ULIA. 1,7t. , .7V1T10LF.
L...•••:-.1 r 7 ;1 4 =is p , r ~ e nt it:r
" 41 : P.P. - . 1 .%t , q C , A.i!l/.I.IAeGI Stock,. tr..:2;1
I V.Fit:V.IE t.A !Jib, 1. f
who are not rear a Nati.)nal Bat*
A on 1 . , - ..11.-or2 , e to the tlrk,ler,.
,~~-
': ~" ;
FB Sri. FRALVT, Trelstr'nr..
t! ' , Taint:: Pltilia
ll=
ME
J WANDA. NURSERY.
• v
TLn :14 iertl,7.cl pare eased the
5U47.11Y Oc TOSVIIpA.
..tt , ..r2.t:07"b Ills 'a7ge rtlee
INIE
IT AND OM:AILEY:I'AL TREES
W!...!ch ! r t.: iz ;ow itz*lrel to
b::Livtia, O ,13:31% REISONAI3t
; pzzi or 1 crO:nptly attended to
Torvar.l3, 1.:^11:
S. W. .AI.4N-011,
VOLUME XXXII%
PROFESSIONAL C
Alrys • WOOD, — Aii•orioni
Coinssruoa iz LA% , Towanda. P 4. • "
SMITH
.& MONTANYE,
LA*. Ofllcconier 0
Piro St - rests, opponite portor'eprug St.;
TIR. T. B. JOIEcSON, P
Svuogox. °Moo over Dr. U. 0
Co.'s.pru Store.
r G. - MORROW, PETS
t • 81711GEOIR, offers bin professiotui
the citizen. of - Warren and vicinity.
fret bonse north of J. F. Cooper!. Ef
Centre. Pa. _
TlTt. i C. MISTA.NrIi.EY,
suCcesxor to DT. Weston. Offico
BloUk. up stairs, . Main Rtreet, Towan
kinds of plate work s specialty.
.
.
ri l FL S.M. VOODBITRN, P i ysician
.1-F, *TO surgeon. OlSco over Wickham & Black's
ercbeltery store.'- .
Tna'anda; May 1. 1812,1y* . .
T A IOYLE & McPHERSON Artoß,
A It rim•AT•LA7. T-ntesnda. Pa. Will Rite prompt
attention to all matters entimsteet to Oar charge.
Ortillans' Court but:Mesita sineetalty.
.•tc. so LR. imity2l'73l 1. 31..
TEIr B:11 - cKEAN, AT'
LI. • 'Alp Cenrsiarmwii i 10.w.touan ,
tienlar attention paid to bnaines to th
Court. j
W. PATRICK, kri.
•' LAW. Office. Mereur's
the Exprman Office, Towinia, Pa.
Ju1y17.1873.
CARNOCILiN,
• NET AT LAW (District Attorney
OA County), Troy, Pa. ecilections .l made
lyremitted. feb
•
B. KELLY, •DErIsT.
• over Wickham L. Black's. To
Teeth Inserted on Bold. Slicer; Rubber
tium base. Teeth extracted without pain
ATAMLIJ & CALIFF, ATT
AT-LAW, Towanda, Pa.
11. J. WADI:CM; J. N
Offiee in Wood's Block. first door wont
National Bank. up stairs. Ja
•
nMERTON & 'E.LSBRF i E,
N..Y NET'S Artist., TOMITIIIa,
into copartnerchip, offer their profession
t 4 the public. Special attention given to
in the Orphanta and Register's Courts. -
E. OrElariN..Tß. N. C.
. _
TORN W. MlX,`'
A T T-I r A Ir. :TCWANDAD
Specini &tient - lon - gieen tc ^ire it egaiD
ance Companies, Office, w" -- " -
Slnare. .
ATE. D. L: DODSON, Or.
I i AND MECIDLNICkt DENTIRT. Narth
erppogge Eni,cripal elinrch, Towanda. Fa.
tal Opt. HOER a speciaMy,
pEeK & STREETER,
LAW OFFICE, Tow Asps, PA,
W. A. PECR, - Va1:115'741 " H. PT
DR J. 7. LYMAN,
Office on Main Street. forme,rly. occupi
Ladd. .flesidence, corner Pine and Secon/
Towanda. June 22, 1871.
HER
E. C. GRIDLEY,
April 'l. 1423
TIOCTOR O. S, A G.
at:. , of 1 . 113 - College of "Physician :Ind F
York t'll,sq 1 givr:rricrinsiv
t o th. pr,,,,:t!,-/3 hia profession. o.Mce an,
'On thrt !! a Stern slope of Or eil .M,l, r,clj.c,ln
Tri-mt's;
TOW ;AND A .
D- Dent ,
(1..-4-t. -wood's! pruprr,.."
r.k( 11,0n.40,
his 021,....*. is eth FAtr:tCtf,l
vavi. rolvar.,l4, o,:t. 20, 1
• •
NOTIIIY PUBLIC !
MEM
I_ll - .33 , 1,ts
act
,):11 , Cy 33•1-nrc
12'7.3 •
'FOL -ON
DINIG - ROOMS
NVe are preparectic teed the htingry at
the day and Oystrytt and Igk
m:ar , h RO. IS7O
1-4-11.;712,LL mUcr TO
re.
.73H!: C. IVILSC..ti
thla En:lse. in ready t.
the try;e:iing pa lic Napair: ,, 210 r
-••arrd to c:o.,
11;:t; a aall.
.7.'f9WEST
::::;17, 1,17A,1P5 - i iq r alt
I ~ 7- : e i. 1 11- 4 in thi.4 Lnc.-•
'D-Nutt% vide of ill- c
- 14 (T_TT; I; L
I'EL.
an. thoroughly. rill!
f.)rraerly kept Ly
tt, Iluntharrfl.-1.1 Creek
_re 51 , ,n.; nntl r:ati, - 4fact3
who Ir:ayf.c:or . a call.
use 4,1%iv.,1tc!
JEANS. HOUSE, TO
.I. UL •
Ilta Ilar.sc , , Ilarntr,a. re. of all a
houFr. 30-tired ag:.inat lo.:1 by Fire, au
tra charge., • 1
i , -,- •
A .np...ric,r cul...lit; of. 63,1 English B
race: red. , ' ti T. It. JO
Tu - k - un,13....T&n. '21.'71. - . i
IAT A. D If u §jl,
This popular house, recently leased
Boom k 2draxs, and having been cornnl
rerriodcled, and refurnished, affords t
all the comforts anernfxlern conVenlen
ea.:, Hotel.. Sainte opposite • tho P
Rtreet. it is irn convenient for i•
ing Towanda, either for pleasure or but
sepe, - 71. roaelS7 k MEANS,
7‘,[AI.7SIQN .
13110 * .TNINCT,
130'./3"..1A car.....1Ct^ , 1 In t.'a - I , stl
will be 4.
Goad rooms nn.
tiro best t.
B ETHLEHEIt; PA
. , ,
" OLD S
intPrezt, it is the
to r ,•Intey Evv.pt Trt.lejtviialence‘ H.
so;ourti s tbi its r.ails of tCaeh
Lee. Gates and other patriots
tien. This poprilar hotel has rec
hands, been improved. entirely re
the vropric tor cordialy inv7tca hls fr
eitnit public o give him a cull—no
nwna t render their stay comfo
evelite for Plilladelphls will find it
snetel the n`ght here. reaching the c
the m•n-ffing. A sernple room pn
acc.)::, rand:Ater. of commis:Mal agent.
/- • C.
Sept. it. 1873.
CHARLES r. DAYTOI
fie epa on band a full assortment o
oll.fiLE HAT:NESS. snit al) other g•
pairing and manufacturing don
Angola! 23.
STEIIIII SAAV 3IILL,
Ify Pi now to gtasa crier. ac
to d L , Li 0.14 of ork is L lito
SHINGLES sui• LA
• I
•
I also off - T :or sale s 2; Ilene-PI
11,11er, CLeaile
F.Pti£.S PET
IKE
FITTR:C"Ltti Ilia SCBGEON
ATTOtNEY•.kT-LAW,
-V.." Sr.. Trr.":l7:: , i N
01 4 115
fr,
dat;....s
S VINI
Hotels
CONNECT:ON WITH THE BA
_Gnat thr, emir! Honsc.
•
D. W. SCO
- - -1
CRET,
'E1:'11 LtSDN:ES: , Er
tis iirapor .S77.lZ}
TONANDA,i
Lzipror.6 - c:i)ulTY, - PEN.
LuIt.AtSVLI_LL', PA
L' - 11:17:t
eicctxsior Etr,npVe7
H i WN E S S- 71/4.1
. .
Or:r Moi-Ay'A Store,
SHINGLE -31
AND CLDE
SUEzEIEQUIti
Qic.ottOirpfilf. Strvr. fer. 1979
, Publishe#-.
hteluteb infra;
IMO
TTO -
Main mad
Thu sea at the crag's base brightens,
And shivers in waves of gold ; '
Aiyd overhead, in its vastness,'
The' fathomless blue is rolled. •
Theio comes no wind from the water,
There shines no bail on the maie
And not a elondlet to shadow
TlMearth With its liceof
'Oh ! give in return for this glory,
So lin ssionatC, warm, and shill,
The mist of a bights nevalley—
The hreczo from a Scottish hill.
CIAN AND
Porter, Bon
CIAN AND
services to
Itsidence
:ern, Warren
ap118"72.1y
EXTIST,
n Patton's
, Pa. - Ail
i1an.15•73
'Day titer 'day glides slowly,
Ever. and over the same; • ;
Scan of intensest splendbr,
' Airs ;vbhicir smite hot as •ff.btue
Birds of imperial plumage; • - [
Palma straght 84 columns of are,
Flulter and glitter aronud me;. l . •
• But not to'my sours deLira.
- I - b-leng'for the song of the laVereck,
Ttie cataract's !cap did flash,.
.ThO sweep of the red deer's antler..
Thod;;lejn of the moontidn rill.
•
Only when -night i•i quiescent,
And !peopled with alien stars,
Old faces bcoir f e to the Ca•ouent
Andjyeer through the vine-leavcd t'srs.
No words! But I guess their fancies-L
Their dreamirigs ate also mine—
Of theland of the cloud and heather—
, The region of Auld Lang Syne.
, Again we ai,o treadfni.; the 1110t111taill,
Be.low us -hrcadena,tlio 11r111,:'-
And bill...Ws of !cep rolling
D - bwn league: of empurple.b.l
Spted!swif't Through the glowing trc.pics,
ibt ship, which shall bear`r.Th home ;
()if; I;sii, as a Cied-c.nt arrow,
ThrOngli tempest, darkness, and loam
Bess Up throbgli the silent girdle
That circler the.il ii.g earth,
there shall bla.c on tliy comp .
T'..•_!l.,de-st,..rover'the north,
. Tftal the winds of the hills may g,rect.ns,
Tilat cur footstep - 3 again may be
of our la-ark'
t !eta 19 11. e sea.
Inuriird
El=
RNEY
a. Pa. Par-
Crrphawe
y 20. 'O6.
It:NET-AT
it door to
for Brad
-14 a prompt
; '6.9—tf.
Office
.da, Pa.
.d Alum
-0c23,72
ID RNETS-
1 csuvr.
of First
Mla
I 1 TTOB-
entered
1 services
business
pll4lO
1 - ts 'watt..
t 'ln Fur
.T. Public
1 u• 93.
i Aitsrcliatteous.
ATIVE
lAlne•et.,
All den•
Jan 11. •
FHE ITSURTY
ItEM.IIIICS OF 11.0 N. E. li. MYER.
'1
1
Ma." .3.1.YE11. I do not start with
the intention of adding but little to
what has been laid on this question,
and probably shonld not have arisen
but fOr the position of the gentlemen
assruned yesterday during the discus.
sion Of this bill, among whom was
the Speaker himself. We are. quite
willfing to. grunt that those who have
advUeated t.lic an amount
of in elligeuce and . Iftiowk chic. of this
queLLOn superior t , , .that
by the •other side. Never--
Ithelez.'s we claim the right• to express
4.lur vie here', and to I ,;ustaiu them
by el 1 argntlx lits as we - may use •
and as we may have.
.a surprised hi . , the,
pc,:-.lti;untaken by the gentlemanfloral
:4r. Mircir, , ,Li..] with so much
eartie!,:tries . , and sincerity utlit regard!
to nl6ney Tiog,a. The .
tA-nly the gin
:l2ii!.:es tAilig [,osition
!1-at t.:l , :in :! Tuoney
iii.e:.im!yat tiglat p,ir cent. het
his e one
dr& d duilars, more when infi
Of fact it 41:;i?s, not add a singlei
(foliar its tvealth;...lt.ut so lung usi
that Money is loanedd r out and striy
jhat .county,- the convy becomes/
so nineti pcorir each year as long a
shy i= - paving - interest at eight pe ll
ni.!, TE:;:ney is (anted td
nit v #1(1,
, o 4 by D.
Eitreets.
• ,
Togs
lIIM
IDIT
n7Pone."
49ttention
rraidcncp
n
has
, lbetr - Tn
he line
It pain by
7 .-3?•
SEMI
tlf tug eep.
the
T;
ul “0.
HER
if times of
in
Eng
I , ~:_`; it=`
~l
1 J: YAIsCIIELL. if my eunstitu
et:l3ll,ow are payitg from:, twelve t9l
ciglit-i:u per c' nt., in ni:-.ny cased
tiglie,:: .per c+-at., ~, , .ould il not be
savitig to the m if thy could get thi.
mol;cy by payilq.; Light per cent.? - 1
. 3111. MYEIn The people in Tiog, , ,‘
connts: raver can gets that money V.)
stay there. It would l - ,t, like currenct•
used for the paynlent" of debts ill
any,' other case. It wciuld be boil
rowtai for the payment of debts, and
v.Ailil lied its t`.-:,y to the merchant,
bro!::::rs;anil others, and from him Ilt
woUll had its way.. to New York;
when , it started, hod the people
woull net have any more meney ha
oriel ear than they had •before they
imiro-Acd it at the eight per cent.
Tay :,:oneyLnders '‘%tild have ,tliie
principal in their hands before 'the
expiration oLsixty days. This would
occur 'IS a rule in .iiirv, cases out of
ten, b_eaase the agent of these men,
whOevz,r they might be, -,yould prol4-
blygive that money, especially if ii
Wc! il
/:.' pa rn
id a ccmissiOn for getti g
above six per cent., to those who are
wiltingto pay the most. • .1 .
• Ta gentleman from Columbia
[Mr. Ba , ;cl:.w.y] arguvd in favor I:if
the passage : of this law,liecause the
Legislature had' iniEchievouFly mid
improperly, as I think, granted to
corporatioin, the right Id loan mon s il
at 'a greater rate of interest than ix
pc;' cunt. !1 grant the policy of t, e
S stein that respect. has been a m s
take:: Bet thy . gentionau froM Co.
lunlbia bas no right to take advs.+ t.
age of that argiiment ;ind ien us,e
the feet that - wc Inala Constitutional
Convention litelv st_iiibled to mirk
riorins . on all tie:iu questions as lam
arilument in favor of the passagei of
this bill. The reforms in the Consti
tal ion tiave been established and rrhe
COnvention was largely 'against the
principles of this bill.. ,
,In 'reply_to the gentliman frp l m ,
Susquehanna [Mr. JoxEs], who spoke
• this morning in regard to the rats of
interest in tinglalid, and also inlre
ply to what s,omeltunthimen.said•Yes
terday open this 'floor in regardl - to
tiie'views . of political 'economists. I It
virus alle4ed that Mr. C:irey was the
only gentleman -; of distinction and
notoriety . known .in - all the world,
who bad given an opinion as against
a"rate.of interest above. six per cfnit..
.I,s the history of England in this ; re
spect has been alluded to, I propose
td read some statements and rads
With reference to it.,. The usury law
of England was' remaled in 1844 1 `
I I quote from Blackwood's Magatiqe
of Julie, 1865, and it is as follow :
"The other point worthy of at en 7
lien is that while working. ,this )IS
ton of inics ,, iint variation the bank
has Intint,gCil greatly' to raiza Ithe
general rate of interest. * * ' -i* -
In the twenty-five years pravioue to
the pissage of the Bank Act (from
1819 to 1844) the rate of discount
fic,cmazio
! ~r n o it IT
dre
I , Ft rf 7 1 ' ,, r
I
' JIo-
[ 1 this old
IA to.:ty to
tr.-itzuent
NEE
4s of th:4
Out any ez-
a Ale, jpet
.DAN,
rorri cr
by Meeting.
telyrefltted,
i) the priblic
roe of a first
ric on Main
perFona
ciFit
sinesa.
Preprietore..
Morrarroa.
Temperance ,
!ade to make
, the table will
e market af.
, or. 1. IFi7l.
ERE
iN INN,"
; y boibling Sn
1, boncytql by
on, La Fay
r.f the revolu.'
ntly changed
trnishea. and.
ends and tray:.
pains will be
able. People
convenient to
ly about eight
first door (or
, surrn.
Proprietor
K E R,
DOUBLE and
oda in his line
to t rder.
'
11 am prepared
shcrt n tics:
11, always 911
er Eng!ne cntl
R. AYERS
MEM
~~
I! , i EXILE.-
El
■
:
used to be four per cent. when the
Ban . •'s stock •of. specie ranged be
twedn .010,000,000 and 47,000,000,
Lrising to six per cent. '(as in 1839,40)
[when the stock of _specie fell to £3,-
130 :1: 143 °I d . hr -- * -- '''`''''':l l tit now it
charges f4nr per centi' when it has
15 ' 000,000 of gold, an&pitte` and ten
•
per pent. !when its. Ethick of specie
till hmonnts to 13:600,Q00. In this
*ay the Bpnk has 2 been steadily work
!,
11g, pp the rate of interest until it
adl . each4d its present high level—
ti
hat s to say, double what it used to
be uder 1 similar circumstances in
form r times. * * * In this way
the liwel—ithe base line solo speak—
of the rule of interest has become
ernianently raised..'Trade of eontse
is propottionately 'muloted. The
Bank in feept, and all the banks which
willingly, 45 well of necessity, follow
its example, now claims a larger pot.-
i4citi of th 4 profit® of Trade than be
ore. And thus Industry is. mulcted
oethe advantage of Capital."
1T
91
point
Otesir t l
ftllS
St in
other — authority upon this
the (London Econorivid—and I
fi particular attention to it, be
it is!orr the. operation of inter
-lEughind since the tepeal.Of tha
usury law in 1844. It elhibits some
ebt4 from the records theni-
ME
~ of What has been the condi
)f things in that coutitry since
irne.! It is as follows: ,
'he rates vary from , three to
iper cent. per annum, ili
pluditiglbqnus. Only one of them— .
alludln to bulking companies— de
--
iTare I
s.. a semi-annual dividend of
cightren der cent.; sixteen declare
annual dividends of twenty per cent.;
eighteen per cent.; three of
n pO.• cent.; ten of fourteen per
; scvputeen of twelve per cent.;
y-onie of ten per cent.; and su
;without counting fractions.
rcsi.ai-ed surplus of (these insti
lls axle not stated."
selve
tion
hat
IS
ME
ixte
itwen.
t on 41
[Ti.e
tntjo
No i
to st
I Shen th n gentlemen undatake
ate in this House that the aver
ite cif interest in , England has
ishe4 since the repeal of the
IaNV, they had better umsult
pthorities on that' question . be
.hey venture to make 'art, teaser-
If that - kind: I will read these
Iritiqs, because a gentleman did
that the writers npou political
smy =are almost_ unpersally in
of the repeal of the usury
oldi:n,c; unrestrained freedom to
money at any rate agreed upon
I 16.
pa lies had the effect to re
'the rate of interest, the reverse
pr'oposition experiende proves
'
age r'
dimi
t flpa
of th
to he
I o
:jolt
- )je4, however, in auotfuer ergo,
1.
nseil 'here in regard to treating
F as' a conuidity! I object to
ithii reas:tu—a good . and sub
ial lone—one used by others,
f ydu make money a cOnamodity
Ner4thing ols: , , so that a man
1!) uyland sell it as '±eat and
yoU mast of pccessitylgive it a
I .ircithition so that all Men can
• 4 d , , .. . ..,
, money,..un cr reguathe - nS Es- •
fhed by the general government,.
ad cif having it; confined sully ti
who now , cajun it. If you
o that I will .not undettake to
n that, ease that it would be un,
o ilcpeal the pnsent ustuY law,
I vii of coarse, money would be
I,er old Mien. , plenty and corms-
Itegly ca-iei to get at lower.
1 1 - But so long as'O.ou say fo the
'e
-:Of this couritry; " you . 51t, 4 01
no more 'money with which to
l actl.3 - our business than you.had.
Beari age," wheii every luau in
Honse knows that the busine•ss
•ncreased lifiy per cent. and the
vhof,ort twenty-five per cent. ' As
las the Government say this to
peciple, you -should not come
ilii4 lit.n.se find s.:•: alai it will
1
ni,onev more plenty to -take off
I' •
late of interest ; the argument is
, :ol.is. How do you propose to
er i i nother dollaT 'more by the
agi of this act ? How will yea
le guy more money than Existed
re ri
MEM
t for
taut
BM
like c.
cai 1,
corn
free c.
MEI
IBM
the
Will
4, 11 N i
ENE
BM
EMI
pm)(1
rates
[leap
halve
tilt.,
ten
this
MEE
p-)1)11 ,
long'
the
HE
mmi
ME
UM
CIE
p
ME
VIE
Yoi '
u Isa- that if th;,..!.:e restrictions
on in
oicyELIO talii2l.l On; that money
will loiv into Pennsylvania from the
otlie • States, and' that Pennsylvania
will be -'far more properous than now.
But k - on forget one thing—that-Mon
eyiic!!vo. added anytbin,g to the
wealthl - of any people. You should
eetqiiiber that the wealth of the
country. consists only of. what is
found in its soil, and in what is
broUght from that soil by the labor
of t e people. That is all the wealth
the is lin a nation. Money does not
add to- l it ' and is of no use;-but as a.
medium of echango, furnishing .fe
c liYiesifor the exchat:Te, of commodi
tie:3l ft operates ps railroads operate,
thom.4ll in a difrorent channel,. aiding
to p l Once and convey to the markeis
th , ?,pr&luce of :the country.
J
. .il'ov l ', the . friends ofthis bill coin
plditi tif us; its opponents, because\
w L'i , itti s:mtio consideration for the
old ht, v. - bich has stood the tes .of
ono hUndred and fifty years in regu
latieg;the,rate of interest at
. si:x per
tun). We can Fay at least that
laW . stands • approved by the de
;idated wi , Alorn of five gerera
c n
the!
cu.
tif i!1
as. of people; but ii nit for this
,;().).1 Lz.'cime of
it tdis
n, that-we ask that it hall be t
nel Pennsylvania; l
rcluer _IA and
cr : \vi::Vaud betaelicent laws, I,la,
{wit to be the'arandc•st and great-
Cratuonwealth in the nation. ,
.
, I-Oopose now, to read some EX:,
tracts in regard to the effect of the
re 'cal of -the usury laws in some of
th Western and soutwern States.• I
re d from a document puplished ' by
Mr.' StatiAn Cooper, of Boston: -
1' The experiment of repealing the
nsury laws was made in Alabama; it
was continued eleven mouths. I tints
inlorited in 1850,- by 13. S. Senator
Lwls from that State, that -they
wduld not recover from the. ruinous
crihsequenees under, a (patter of a
centory. Nearly forty yairs "no•O it
wt. s Itried'in Indiana. Iu a letter
fit( rri! Hon. W. W. Vick, dated at
15-tr..hington, D. - .0., March ith, 1849,
who was then a metuberof Congrer - s
from that Stop, ho says, 'ln Indiitha
th nsury laws- were . repealed tvelve
o feufteen years ago4Stbaps More,
a (.I,wero not reinstated (for three or
fo,triyears. The results were fright
ftl.'l * '* * ' If I ;bad time, I
x.uld be glad to make 41. sketch of
t e desolations left in .she track of
tie usurer, &ming his; brief reign in
;'ooilier land. I was judge of one of
4
~,
il
nummonzas Of DZIONCILLTION YAM ANT QUARTZ&
TOWANDA, BRADFORD COUNTY, PA.. MARCH 5, 1874.
our circuits at that time, and was a
shuddering witness to the desola
tions. I have rendered judgment
upon contracts for paythent of fifty
or twenty cents per day. for a loan of
fifty or- a hundred dollars, and in
some instances the interest had be
come more than ten times the amount
of the principaL' * * I know
many Men of excellent natural quali
ties, and much inclined to be moral
and gay, who became hopelessly do
moralized and misanthropiral. The
moral desplations created by the ab
sence of usury laws will tell upon any
community to. an extent almost in
finitely beyond the ruin of estate.' *
* * years pass away, the evil
results will develop themselves in 'a
geometrical ratio. Long before they
develop their Jail force and Effects,
the . community will demand 'usury
laws,and the blighting caress of many
a withered or aching heart will fol
low the advocates of their repeal to
their graves.' In 1.53-19: repeal was
voted by the LeAislatnre of Wiscon
sin. In January, 1850, the Hon. J.
V. Walker, IJ. S. Senator from that
State, wrote . a letter speaking of the
traits of repeal. He says, The ar
gument in favor of this repeal was,
that the competition' in the loan of
money—the rate' of interest being
unrestricted —would produce a groat
influx of capital to. the State. It e'er
tainly has -produced an influx of
money, but not. of capital. The re=
snit is (and is to be), that money has
been freely taken at an interest of
from twenty to fifty per cent. The
money loaned y[l.9 that of non-resi
dents.' A year' later a letter- w 7 ..is
written and published liy Mr. R. W.
Wright, Esq., of - Wakasha ' in which'
ha says, The results of the law were
so disastrous to the best inttrusls of
the State, and so contrary to the ex
peel atious of its friends, in increasing
'instead of diminishing the rates of
interest,' that the experiment 'was
'very readily abandoned. Its bitter
fruits Were lift behind,' That they
were. left behind, may •be Inferrol
fronyaremark made by the Gover
nor of that State, in his message. in
185 k Ho said that•the State would
not recover from the shock for a gen
oration. . In Ohio; they removed all
penalties for usury in 1851 and allowed
an interest by contract of ten per
cent. 'lle.experiment: proved a sad
one. In less than four weeks after
the passage of the law, parties from
that State were in New England and
New York Soliciting; large loan 3 en
real estate at. ten per cent."..
Perhap i q, Mr. Speaker, I am wor
rying thnpatiOce of the House in
~ ,nolonging my remarks, but I eannot
pL- - rinit to pasS unnoticed thg asser
tions of the genthan.en who tavo'r the
passage of this bill, that no political
economist 41 any authority had 'pre
sented views different from their
own. 1,1 gentlemen can show me
how it will (result', that one lellar
wilt be added to lbe actual capit , d in
tho State of Peni,sylvania, by the
passage of this bill, then I will ac
knowledpe glue ii i-ome fore- in the
pcnsition they 1.1!: taken. Gentle
men sa:f that if will not raise the le
gal rate of interesti„ but I deny that
positioo. If we I,a r.:.;
jug the mak . .ng - cgri'tyacts it eight
per , cent,--I..ask any gentleman if he
can sitppose for one minute,---ifjany
man of common sense, who has any
knowledge of. business, does not
know that every raving institution
that loans money, that every bank
and ,other institution ia the. Com
monwealth of Penus3lvania, as well
as individuals, that-loan ny. , :ney. will
nut - ha:.," lying tl!e:r c.t.inters con
tract notes „for .fvon.l seven 'per &lit.
to eight pt . '? .or ten In:r cent.;
and that the borrower . NN ill be rtlqui'r
ed t.J pay jlL,t.' as much - as his-ncees
bilks will enable' the bidder t.l
wand, and us his circumstances will
adadr. That is. to say, any' man of
exe•ilent credit who can take Lis'
froverc 4 •lent cnrities and: lay them
clown on ththcounter of ii. bank, can
get money at six p..r cant.; and if be
can get his neighbors to endorse for
him, ho may get it f. , r seven, eight or
ten per cent., thEarnount of interest
demandtal being .regulated to softie
extent by the character of the secUri
ty offero 'Under the provisions of
this bill the rate of interest will im
mediately rise to the . highest • point
permitted in the law.- Once there,
and it will be . 1 1iffieult to', again re
duce it, and probably it could not he
done until desolation had visited
titbits tads of homes that are now
aceful, happy' and prosperous.-
INloneY'needs little protection; itsde
inoratizing,power is felt in our legis
laturt,s, our Cougniss and all depart
ments of the government, and heal
tates not to invade the Very temple
•uf justice.-
•It'dees not need protection. It is
the people yilo . need protection
against its encroaclunots- 7 -Bgaiust
its exactions 'everywhere—not only
in every brita i th go‘'erutnent, but
in all I.,r4:leliqs of busineEs. It is the
duty of this (Legislature to protect.
the ,more humble and industrious
r - ,rtion of the p4ple against the un-.
just exactions of . the tu , ney-letidt rs.
Th. - zt the rsition'every gt,thtleninit
twou t lis il , )or if he
iti ~rod faith to discharge his
( I n t l - t o biz; c:uistiftieuts and the
State at large. I regretted very 'much
t.,.) hear the gentleman Sfrom. Wyo
ming [Mr: larrmi] take the position
he did üb,on this question. He told
us that 'Tie was opposed to "ela4s
legislation.." Dees he mean, to . be
understood as opposed to legislation
that; will protect, the more humble or
unsuspecting chsg of - e,hr people
3gqinst, ,
the desig,niug au(' unscrupu
looki, who Are eAer, on the' alert to
take advaptago of their wiluts or, nu,
ceiSities ?
of legisl•ilioti that makes a distinc
tion among as men, whieli:in
fringes the privilege 3 and
free government or a free people. If
it is true, as it is asserted here, and
Ido not...deuy \it, that men do abase
these privileges—do ask a greater
than a legal rate of interest etill
s,ball we say because of this fact, we
will repeal this, law and give - them
the,right to tax;teu per cent?, If the
41guments of the gentlemen in favor
of the bill are well foattcl,o. and it is
proper to ask for the repeal of •the
law fising.the
_rate of interest at - six
per cent. and raise it to 'eight pet
.. ~
„
i
----,
Everybody is opposed toile, class
IMO
••• •
bent., Last if 'with the same prori
i3ty we could not be asked to re eel
the ; law fixing the rate at, eight er
cent.,nnd make it ten per cent.; in
other words, be asked to wipe oat all
usnry laws and all laws' regulat ng
the! rateof interest ? ~
If the positign is correct, in *no
,case, it logically follows that it "m ,st,
be true in all cases.• Nov, the S ito
of Ohio has been cited. as a., St. to
T
that pays a higher .rate of trite ' interest
than we do, and it has been said t at
thie bill would , have the effect of
bringing the money frbm other
States into this State, and of cansfpg
the return of money which has gdne
nt, of tliiu . State. ' Well, perhaps it
j
might be brought, back, bat, as I
before, there is no certainty that it
would remain here. The gentlemen
Mist remember. that 'the Eastern
States have nearly one-tiaird 'Of tle
currency of the country - crc-ated y
the National Government, and' thiat
gives them an advantage at this tiiite
over us. i ,
"We are 'told here tho Ohio legs
lies . 'special contacts' up to cigtt
per cent.; and that if we should pra
vent the efflux of capital .we mug
follow in the same direction. Is the •
hoWeier, in the exhibit. nowmade 1
that State, anything to:Warrant is
sl doing? Like Pennaylvania, 81
has abundant coal gild ore. She h:
two large:cities, the o'ne fronting.o
the Ohio, and the other on the lake i
giving her nierenaloaral , facilities f
maintaining commerce than are p:.;
sessed by Pennselvania ; • and ye,
while the addition to her populatie'
in the last decade 'was but thru
hundred and F. r ik thousand, that I
Pennsylvania was six hundred and
fifteen thousand. In that time sh l
added nine hundred to railroul
age, PenuOvania nieantitue addini
two•thousao fivo hundred. Whit
her capital tAigaged in manufacture!
rose from fifty-seven to one huudri ,
and forty-one millidus, that of Pen
sylvania grew from due hundred an,
ninety to four hundred :and six,. th l
m
mere increase of the one Icing mot,
than fifty per cent. in exce'of ,'
total of the of 1, , r. we find i
these figures at,y t,...d.1;cf) that cap
tal has been ititrac!ed to Olio
higher rate.of inter,s', or repelle!
from our state by a lower one? A
suredlv not I" ' . I
. .
Now,/ it strikes me,.that there is
t a
nothing in this warranting, the elab
of these gentlemen, that our Sta e
'would be more prosperous under a
higher rate of interest, Certain] . t,
the prosperity of Ohio 1..3 not-sec:lli°
he <gnat to tliA of Pounsylvani i.
When you eoin down to real eta
there is not a State in this 15Lio.t,
whetLr it pays a ::ligiii-r or lowyr
rate of intered than we dc, that efin
(Jinni us iii our great v, - ealth . aid
prospnity. Evi,n if the Money con d
be brought, back Lyre—v;eu tlion{.;h
it might h thieo or four nillions, it
would not add to the wrath h cl Penh
,sylvania. It would hardly. mitliqa
'drop in Ca.? Inf:lfet. Of eoursol . non
not saying .1 '...,nii,1 not consfut .0
('llauge:i in the ti...ur'y
ibotight such , 211.1142 - ,cs. c:,111,1:1 , 11 au
1.1):11 , 4.to the gf 1 111111; anfl r.T.I
uerLty of Coo Gircidort‘o.:aliii. C.
tuinly I woutd ~ lling to
',note tha'i. end :e- auy gentlenftu
this floor, but then, in depirth'
from the iaw as it stands in Peons,
vania to-day, it has not been sho‘l
by the. advocates of an increiv.ed rl
of interest that anything_ would '
add to I.le material prosperity
the Commonwealth,- by giVing so!
additional privileges to the mon'
lezider, not even if the effect ot
would be to bring - back into t!,
S[tte a. few minions of dollars
it is . , claimed hie; icy.
katq i,f inter, s'..
There is E•oi,le flue iu tho
gutuent, I admit, th.,t the legal
of ititerest should be I
teL to sovt.n p c3nt. Now
e-11 the atteutionr of the House
:mother gutia2nian who has so
reputation as IL political econom
T!1 (1 whose opil‘ion I (11,-,ird, to rei
I quote frolu Turgot. :
• "IV° may•regard the rate'of
est as a . s•aq.,of level be:l'ow.
labor, all eultivatlon, ;•ill..;.mann
• I
tares, !Ind - all commerce dense; T
hke a sea spread over a. groAt.co!
try, of which the mountain stat
ri' above the waters, forming 'fel.'
and cultivated islands. Tim Sea
inn . out, the bill-slopes and the pl
and r' valleys gradually appear, co
ing themselves with products of
ry_kind. To innudato the laud
destroy th. 3 eultivation i or to res,
t.ci.agrieull ore extenLive terfitO
it,is.stalleicht that th 3 -.vater, shi
rise or fill a .sing!o foot. It, is
abundance of capital that anim,
to effort; and the low rate of int
is at we the effiet and the in
tion of that abundaneu.."
Now, sir, every dollar of jut:
yon add whenever :you raise.
rate of interest—Sou add to the
. .
dens of the tecti who 'Want to be.
money; you tako inoLey out of
laborer'. i pocket. Yon make the
tifi'teturer,.andlaborer, and pro(
eimipetitor3 with these•men who
nish the lint thr genii
who faxor ttrS biq would justi
passage on\ lie ;.;rouliti that our
interEste warrant .the, pavi
of a higher rate of interest. .1)4
is an admitted fact in that poiC
thy' State which I have the ho
pare to represent hem: that it l
be a very prosperous hueine.
deed that can afford to pay
above six per cent. interest. •
. Ihave one more quotation
the sidijeeti, which I will read I
elOsirl.f. introduce:it for th
wins I herkitofore, stated.
the opinion of a gentleman
shop'l have gre4 authority wi
iegal gentlemen of this keir , e.
the opPnion of Chancellor lien
''The ar.d lwitned
mentator upon Amoricin
' late Chancellor Kent, in i.
India o`pinion which - he gave
usury - else then before the Q)
errors of 'State of :few,
able extract from which isgiv
previous chapter, after .exa
the subject at considerable
mid ref , ,irring to the hist
the laws against usury Ire
earlieskperieds,,ar,ks: 'Can I` , ,
pose that a principle of moil
traint of - such uniform and ur
'adoption ht's no good -sense
I
~ ' i , '.
d...
11
V
......_.
Is it altogether'•the result H of •mo
kish prejudice? - Ought we nbt rat er
to 'conclude that the'preiision lis
aclopted‘to the necessities ' l and the
wants of taw species, and , groevs cut
•of the natural infirmity Of inen,,a4 l d
the temptation to abuse Inherent in
pecuniary loan's r He then , "proceeds:
`The
,question of interest' arises con
stantly and intrudes itself into almost
every transaction. It stitunlatea the
cupidity forgain and sensibly affects
( ----------t-----,
i ' 1, - • i 1 ,
Catllo NIA WOOD -0,
the heart, and gradually presses uP. n ' •., '—e,h. 11 -•! 1'
The relation of debtor and I creditor. - It is'in, in, t e logging ~:ctinp. , - .l3att a
Civil goiernMent is_continu!i .11y per n
stranger wi Ibe most Aereste(l on
ing gourds - 'over tine weaknesis, and tlt s , cbaiit; l'pr there he nill 'see and
Checks upon the passions Of men: .fej . that bigneSs of the redwoods. A
and many case's might be Mentioned mart in Hrtinhold county; lgot . * i nt of
in which there: is, equally with usuryone, tree limber enOugh 4rnalt.e his
laws, an interference of-the lawgiver ho and barn; and to fence . in. two
With the.natnrat liberty of Mankind sates of g,r(J,und. ',IA sell was
to deal as' they please slh•eacb filled with shingle; . MTV : filgrn a
other.' But no person doubt of . th'e single tree-, One tree in Ilifendeino,
necessity and -eealtitory
.efficacy Of whose Tana nEt were s l3l3 **' 4.1. we;
such check. On. the • same p i rit , eieh) rnide a mile of, railroad ties. Trees.
atilt unlimited usury may be Permit- fourteen fee r, in diameter. i have been.
ted, tll3 law ought to allow the:credl- frequently fund and cutidownl the
itor to insert in his bond a Ooviteion 511 j-logs arn often 'split
. 4part with
cempound interest whenever the wedges, beeanse the entice 14tEl is
A111111;1101 ietereetete:ttomes due and too large to float in' the narrow l and
i-not riehl. Nay, pert - lee .6 t ' lg i l l 4, ) shallow str e ams, and - I lia,ve - t':ften
be allov.-ed to agree that if . the • c e Dn .. acid them blow a log aper t t with g,un-,
dition of a bond belnot rotfortnerl a , . •povder. 41tree fear feet et! ditineter
!he day, the penalty sletil ni.ite.eni,l- is called under Isi7',ed in tli , -e , w i eods;
be nominally forttlitd ,Litt ~,te r„ Ev and so skillful are the wpoll choippers
ex:tett:de I shenkl lipprehenll ,
ti lo f it" thatethey Oil mako the largest taut
then „ things .were 'to n s pc ,,, i n t.R e . of the forest fall) just Nihere ' they,
there would notebe Strength enongle. .want it, or, 9,9 they say, they -drive
in the goyernMent to sup p ort thd a d i take wit the 'erne." •Illne fehopr
administretion of Ins•ic,-. it is an .peli do• tic,' stand: en die . ground.
idle dream to- seppese that ;We at d — luitAin.stag 3 rased to such a Irght
wiser and better than the least.ei as Ito enabl the , 1 48 toj stri te in .
mankind. - ',etchM doctrines .May be where the tree attains .t..s ,faif 'and
titught e bY those.who find it e leonvere regurar thiOne s;:lfdr fIA red rod,
ient. to - flatter
,popular prOmliceJ fill) li-In cc Ir Oi l/ : fi‘'VeP3: at the tiase,
(1
but the -records of our con e
its ut ; i ,neitr the gr trued. iThese in es :teeter
deily tra'ltie" oz a it-.7son cif, teere• stile.p hill-siles, anil. l .giolvi -in ai es
humility. 'Anti I appreheml it WQ11 1 ,(1 i trCln;e/Y /°' 'gh ` lll 4 ttrPkrl l •"eci'l-tltrYt
I
great Ilikiglt.l ma -es it
b.:.: pt:rilons in the ex.trerne: - 6 throw an I.'-f ii
wide a ll th e ee i s ti e ,.. T a ee k e ;vol e Pet I T'ESiLVy t 1 fell theca catelfullye, hest
usury, and abolished a 0 tvdtice,ii the ohatil , • falling , ', wi l surlh; an
law wilich is f tended, on tlle hectic; ti en;?rinou.-7: weight,•b,f•elil,t !torice
hood ex t:, o! i e nce - of e v ery e ' ( e't , i T,1.; , s ntestintly. : bm.)pen tin- Stop of
In additiou. to • ti' , n - oplfien of ev -ry preetintion, and there is deubt.
(31 , mie ll or. Ke ' ut,., I
.t.k.i,dre to I .,_ ad, .littt'in the forests and tit the mills
from Lirot 11 ,, fit ,..,, j , t1. ,, ,
.r i n ,„ thor ~.1
, :it : tiv 'feet of roucl aie, wasic forleyery
iegl. economist ': I ' fo: - t . (if • hurt er- sent to in irketl To
. ,
• `f re-elt. the d'rection hue nnl which the
"Lord Rede.stiale, said in 1603 (1.1 Hes is to fall, the Choprier. 11'1.A:falls
liScIt. & Li. 166, '312.), rainy yeart;qdrives a stake i6tet: t4l grotfrO a
after Jeremy Bather), to whom the Ihultelrecl o a hundred and tirl.' l't..et
learned counsel referred feriae able frdriethe•b l ise of thej treiel and it is
defense' of usury, - Letcl first' published aainally.,cominon to, i.edlb, th Itree
his letters, that the statue of usury 'fall upon this stake; so s'tia.'e - ht''
, . ~ .
was, founded on great principles of ehese redwoods stand, aed-tiso je,'
public pulley. - -It was ietteecled, h 6 at 4 11 is the :kill - : . cif the.l.c6fters i .
said, to . protect distressed - linen by fel a tree night: feet in. iliartad.tt
fecilitatinp; the means of procuring
. cennted•nilay's'.vork forita ii
1i
Money on, re a , ..oulibl e_ terms, 1 and by, 01 cries 1.1 - 0 7.1116/1; in .fla•rvi••••• '4l'
r.-I:wing toultn who sit it - be, as „high z ipo'f o r boyiaiJer. l
i I
rate of interest, withent hazard, u.i;:' 1 I . '.
those can procure WllO employ matte ' I ,
in let2Arth,us wrier:ea - jug:, or trade
and manufactures. I t.u9f, that
theytretic reformers - have -not yet at:
taine:lcti this subject' nrly &cit. - 1(1(1
victory over public' . of,itlion; :30.
Ileutkam contend ~ : i - that. We' ought,.
not so much as to wish to , see the
I
spirit of prtji_el - , iu any degree ret .
prte3. It-may be so; bat I hope
I 'may be peeeeteed,te wieit that the
iirzt, expeihm-rits of 'his projects rear
net be madeevitlite ,these waele.- The 1
,
_sintette of.usnry . is -coast eutly.inn-r
-posing its warning voice: b..-tween rii;t4 3
CIT(11COr sitpi the debtclr, acid tiiiel:citt l
a lc sortof st.celerat ion to I the • tate,
andeoli t ,re iis protecting area to the C
other. lam not willing tojwitharaw c
such a sentinel. I hare ItLen eall e .h
to witness, in the'course of iny officill r
life, tot) many victirns . .to the week-. i
ness and to the inflamedpassions of'
11 , 1 n. (Mullin - I . v. Genia l 1.1-; .Te/in, t
.8.167,376 --:3tio.) . - i r I
. 1
-"The. viuerable chancellor is . i-,':-
gariltAari very competentl iitillio':ify 1
1 upon th : i - plestion latre, ,dis:eussetl. i
his i-igacity aMI greA - 'learning P;tr• • ••
, tictiliirly bitted him nut only to givc.ta '
i rue exposition ,of any given etwt
, m t:A
ent, but judge thenecessity itti'ld
prcptietv of au enactment itself.
1 Front this' opinion it is cjuito clear
that in the judgment of this eminent
jurist, tlit3saine neces , ity existed hi .
his day fur usury laws, asthat which
called for thew in earlier I tiams, and
that he did nut s...iii - pe.thizo with the.
sentiment trait suck checlis are pre
judicial to thr, exercise of enterprise
or sonnbling blocks in tae way jof
COW raercial advancement; and iteamy
be added that in most cases the
:objsctidus to 'these beys emanate
from the money- lenders 4heniselves,
and they are usually,most prominent
in making efforts 'in obtaining • their
'rtepeal; and further, that: it is the
, daily observation of.everY discerning
business man that .eo iterson can
continue fur any co,nsider i able length
of time in any legitinttelealling. who
is in the constant habit of borrowing.
money at exorbitant interest; his fail
ure is a foregone conclusion, and is
ouly a question of time. IThe pOssi:
bilities, therefore, are.; that these
legal restraints will still;be..continned
in many or most of the Auterican
States, and. tbat'the lime! is at least
far distant when.the system will! be
permanently , abandoned.l' Tylei•, io
: ,
Usury, 41ba.ny, 1873: : - . . .
If ligislatii is neetled-upon this
. sul.ject thi:i bill is not . the 'one' vitli
. :wlecli to do it, forkt sUuld contain,.
certainly, a restriction! - uport. the:
moat;; foalleil in this CoMmonwealth
upon Mortgages.. 'lt is estimated
upon competent authority that;-the
amount of money so loaned is be
' tween four and five hundred millions
of dollars. Nov, ..':eir, i' will not re
quire any argument to- how tol`this
ti i
house that if we Pass a y such law
8,3 this, when thete3 mortgages beeen.ie
due the ie. - elite -wile - pie. them wlll
be ealktill: - .h to,-raise the • tummy, ,
and pay . the - rate 1_ of a interest.;
Ibis will. tu.doubti:dil cause- greatl
suffering among (hi!: ptopl-?,.4.1they1
are required to pay. those sums :to'
the: then Whf.), ativene+l them!. tied
who will exact.:payinenti of the ',legal
rate of iteertle.....Tbat meney, was
loaned under the provisions of the
Jaw at it stands to-day -and if this
bills is teaSsed and.•the people. are re,
Tined to rriise it,, - thenlgreatlo:ss anti'
much suff e ring mist Li? the result l
' It is the policy: ef the.Governmett,
to regulate the iimorint of - moue
that the country shall have,: and t
say arbitrarily to the qople you shat
have' so much and mai morel ;and i
say very plainly, Mr.- soeakerj feat
that in future the eld bane:. wai
will halve to be fought! over again- in
the country,- - 'End in; • nMek more
i --1
, ~ ,
N
Milon -
r )itcl
I NV-
MEI
IBM
rest
the
row
the
,uan-
ucer
fur
nicn
y its
limit
w, it
on of
I or in
must
,s iu-
MEM
upon
'etcre
11,1-
It is
'k.ho
h the
bin 4
CU
ht,
very
En
rt mf
an
In in a
!nintug
length
try of
tu the
1 e sup
:a res
piversal
in it?
¶~' per
nn . .• " in
df i sper at 0 cirenrastance " , than exist:
ec.
in yeary past'',
Ir. Sli l ealierj have briefly t:s pos
c,
si lo gone ver_sotee of 'the .: reasons
that will,c ntroT tiny action c i n,this
hill, and ,fo the kind attentiOn and
generous i diligence oil the House,
worried as . ft ronstbe by ' tl4 long
discnssioft upom thii quieption II I am
gr atly ohli ed. 1 i
„. t
.
"I. the:e a vacant, 1 , , 4,:hce: 1,1,
hank, which I et,uhl filll " wa
ie,lquiry 01 V. boy ; as wi:hti. glit
cheek, he :..tocdi).-.l6re. thy, rilal? - 1
" Therel
is none , "• - ,‘ - as ithe ..',
~,._• ,
"Were yot i t told that - you conl 7
tan a situ:!ttion-hc , n; ? Who ri
eallided
,) on ? " 1' ' 1
",No ore .recoiLti;leru. tarnie
ealuily answered..the b 31. , "':!
t. ought I would ff , e( l 4." E _
' There was a 4,;t ra; ,,, bt fi)r iv •I
.1 •r) , '`l
ill the 11L11 filer, au tteuestldeten.
, I
ti .n. in
.IL:e .e(intiteUaLep of til l ,
1
chick pie set ~the rhati Of bus ,
aild iudu ed 1-tim' to Coltinu l l
c, nvt,tpati,on. 'He said 1
"You ni,ust, haVe,frienda what
aid you ti obtiutng . ,a !situp'
ithve you Eeni?" • R
1 -
TLe quick flash ,of tlzideed
e: - es was que , Leheki,n the over'
v,ave of s:,Loin . ese,,lrmi he stkid, t
h tif unt,if:lgly: , 1,. , 1 •
''':!ly aothcr said it v0 4 ,11(1 :
lass to t . ,,...:withPlit rot-1 1 (1-r
. 1 - ,
.u-
1 ~1, - -- i i
~ . .,, c elliettpg. niti' , ' , 'E'll, ij
fkLr:t.iie i:• . qkf..:....riiption and
NNithdrat, - wheti the gl
4ined lii..i'.a by aili.iu.rz. v.
filiniain tl /
~.s ehool, G/ al
ajd, then enter 1;(a. bu
" I hal e no . time','.." w
" I st tidy at home - ; and
t ot4 boys,"
- " Ltd , you 11:y.. - i!, a p
shid hisi , interryotor.
von lex t , it?" , !'
" T.•lla - ve not h-fi lit,"
boy, gitietly, x '
• - [ i But u 1,;•i,, , ,h;t,) h
,ti,t, nutter?" 1 -',
I For an ih,.,--tatitiliry;e:.
Oen -he • replied . , ivith +
ftaukee,ls ! '.' ~ 1.
" 1 ni ad 60. 1 ii fo
1 -•Brateyvords If tails -
unywhe e,.. evers'.w l 'her ,
into the heart eery
tile li
log the adiantlnst.,
hand.of the astonishef
..
ith a . • uivering 'yoie: : - -
• " lly boy, - what i• your i name 1
- ou sir 11 have the first. Vacancy fel
ut apprentice that ocenr4 in the bank
r f ii
Il i in , i. t o b i e . e na ,
~ a r il i_t e i mel, B
I s- t O peedn o, g
il . r
.c
me yotx 'conli:i.'ime.a. Why do you
wish to do' trioiji foi l . : %. 10 1 11. ll:wilier
Have _you no father ?' l 1
Tears filled his, eye 4 he. replied
(,‘ 3ly fatber is liehd,.n y brothers ant
Sisters 're deai.l, and mother and
ere lc,f . a'onol to btj pi eacli othct
Ltnt.iitt iil iiat stron,_ „and I w sht
tak , i cl r ,. '• of hdr.lH It lilt pie Ise he
sir, thaii; von haVe.:been iso li.ind;;an
m in
I au l .cll oblige:to yiju." So . sa
ing tilt:L.-boy left,jittle dteaming th
his Own logbl4ness , 0... obaraker b
• - ~ , 3 i
it bright glaee of qunshi
lat'busyi world tel bad so tre
enteteLl. l ' l l 'A boil , animated .
rto li . cliii Lis mbther will
ld frielidS.,
)een
into I '
a desist";
MEI
AL''
wife
gato
ed. for
‘q:lav
“No,
Cona
thiag]
LlaAlo I
._
!admission. !Phi) god inquire
L r
you ',W3en, mi purg,atory .
but lil have I been ruarrie .''
in them; thitt I is- the sa e
" Anothtr d fOnet IBrah in
his appeal-a: c 4: just ,at .t is
trimt.int,. au d asked Iralnna to it
him . idio into, pa iarise: "Wb ,"
said ihe god,l; bar l ''youi been , in
purgi tory ?" I "Ni; ` tit neither '
tin) ast '' applicatit.fti "Aye, i 1,
i
enough, but ho had been i marrielc,
`'Tben I am as goo l d,l, nay a be tie;
fellow than hoia; I have be,enmar
ried twice," • I ' l l'uon pear
l out itl
ye; this is not Sur desiust . la
paradise IS not kaado for fools."
1 1 1
BEFORE Oa
n3ll 'red oil
t - '-'
1,•..
. f it
,
dVa ce.
Ti
• NUJ. 40.
- <a>
MOTHER'S R
aa
e i npoirgtscd.
' \Tfts;Eihoilt to
1.1,1 -lie did not
ar q two,
ipess iworld4
i'sl the reply
krep tip, wit
a l
alr,e.tily;,'
11 7 14 dia
r ilisweria -tLe
IVLa, is
hesitated;
Ililf reluctant
,
zuc t tlier
Lan of success
They sank
4tter±rectill-1
I Gresping th
said
' L
array,[ who lact quitte4.
this Nrr)r,id, 'apfieared at t]
Brahnp's paralise, and as
-re upe,l.3, re.
fhil cart-
S w'
face cl
.:11-,
1
f
i
THE ME= WiN.
i ,
.1 , ,
h t 6
Moralizing tmeithe i loci/ and rut
achy man, the, heater 0/ironic/el
has reflects' on t -limilnalry'' man :I
' Everybody lino s him. Hn livesl
c
) eve ; y localit y a dlis I 'miafprtunes!
ro known to all. atever he doesi
urns out hadlyq d- if'by, seine
range accident hp eels with good
j ai
fortune the igctod o eis certain
to be followed; by 1 acCident mill
i
ently grievous b nce matters
the old Way. Ire. as had illness
ond 'other me n . IHe has , been
o r
niT
arnQd out seveinC ti es. Ladders
ave found theirl,,' y obis tenement
f r the ripecial'p of giving . him
a fiell. j/Efe is Iho eat' 'capable, and
t o restlof it,layd inakEl more money
1 t an most men with a f fair chance to
i; a
dp so; lint b Can of I 'overcome the
!Mistortnnes which insatiably folloW
'his sueeesses. He al hope largely
d veloped, ho , eve
~ and is naturally
`a cheerful man—as if ,he had' been
'e sated 'for they spe4ial: impose of lir
1i g dO,Wit misfortune, or rather, Of
g stin g up inlthi wprld with the fails
a d only purpose id falling heaiily.
1 Of eourse, there ft is ‘ltio such thing
" Incli;"., and 'yet this man is so
c refnl a uninhgeri so : temperat,e a
in n, ~ and general? p r inarcof such
god sense; that h ,cifunet -be' r bild
re Ponsible fpi his l midortune, 1 Of
I courfe, no man's palh is beseCin. the
i f )
be inning with, thogis for the ' iraere
p pose o f priching n#disconraging
-hi , any i more than the paths of 'oth
er are strewn w th, flowers as
sp dill providence n !their behalf
b who t , can Tatigi lly explain
ill hick that persis te ntly. follows
in lividual referredo 1 Or who .
ex lain the singulailwicid fortune m
th s man's opposite a l i fellow of no
ii tne, perhaps, more y, 'socially, or
in any other Way—ihsi never Meets
a aiu-storm ss•ithoaifinding an um,
br ,Ila ill his hands;l who is careless
b't never sall'ers fro fire , ; who toils
1 1( t, but has a well , led picket-hOok
at alt times; into w ose-circle comes
ti death, and Who as! ;to the end of
hi days ,no cause or I anything but
...
P ;se ? !'lt i4 . l4chirsteter altogethei
th t.t hews ont a man't! path through
lif : What is it? I ‘-,
WHE).7 MEN, OF f , T - - TIIEIII BESt,.— •
D -, Beard .tat.ds th t'friarri an andly-
Si 3 of.thel live's Of a -thOris3Ad l'Opre-
Sr il t ailk•E_pleli in all the great branch'-
e- of human efiOrt, e Iniade the die--
C, very that the go de,i decade . Was
llt.tween 1.10 and, 4 , the silver 'be:::
t‘ - een 40••• an di 50,. 0 e brazen between
2:9 and ,10, the iron between 50 and
tlt1).
Thesup!eriori y of -youth and
it iddle,,life. over . ol 'age in original
Work, appeare all -the 'greater when -
We' consid-L3r•the lac - that all. tirkto-,**
1 1
S Lions of Loaoi*an !nicht, and pres
ti e-proftssarshi d* public!: eta:.
ii sns:•are in ;tile , ncl 'of the: (aid..
epuf . ation, like mime and position,
i -mainly conhn'ed to the •old. Msn
a - a not WidelY knoicn until lorig•after ,
t ley have dents
,th . /4 . work that gives
t eni•thir
.fa Me. •Ir ortraits .3f - great'
. 1 , en are a tleinSionf,; statues: are lies.
they are taken when. pen have. be
C Mme faMous,f Whielf orr the average '
1 . at ft4il.:.it t‘rent4-five years after
f ; is did the work whi c h gave them '
t Lei: Lyle. Origi al W.ork requires ,
C iihn4asa - i. Tf all the original Work',
e.ione by theni find r 'forty-*ftve..W.e . re_
~ nriihilato.l, they -ould' be reduced
1 • baribariSm.l 3le are at their best
t that [ time Ishe i enthusiasm and.
xperience arcnio. f evenly balanced:
i is pul,ioti on' , thy
,averai;u is from
i flirt y-eight ti?! fOrly. 4fCer• this the'
irw isit lint ey.perielice !increases,cs but
Lith6:astu declin -5. • fln the life Of
lmost.every- old an there *comes. a
oint, s r rower ;Or 1 ter,r when experi-,
nee ceases thi ha. e any educating.
owt..r. i
; " 1 , ; -.. . •
I ' ' :1
UNCI:E PFir*..a, W 1 .3 fionrishes` in ' the
orintains off YeriOn, as - a;. horse . -
-. i - f
i eater, was 'ealle4 • Open the :tither
day by l an a:iliac:lr kidge-of equine,
Alio was in search of. something fast.
he rt Suit is !told as follows:.
" There," Snid.'Criacle Peter, point- i
.:
trig to an aniMal, In the-meadow he-'
low the heuss,!":llhere . ,' sir, is a. mare
who•Weuld trot hir- mile in two min
utest and seven'tein *seconds were it
~
not for clic thing
1 " Indeed ! . 'i' Cr
"Yes,"
,- •
I crmtru
r heas four year
'tis in good coedit
fa first 7 rate Mare;
thile in two-'oVei
tor cne-thing.",-
II " Wellovnat i.
I " That - mit . r,"
i"is in every, w
'property. 'She '.
switch tail, Lind.
why she caultl g.
teen." : f 1
" What in': the
cried the runate
"The distiancii
time," was the o
.- - l • . - i . 1
do
cur-
To
er is
MI
gEll
this
s the
wino'
I c'
I ob
i
Cia/-
Lir,'
only
dress
•
111111
/
TIICES
the
could
tior ;
MIII
ilkibg
long,ll
l e use
111511
. iIOW TUE OLD HORE, DIED.—GetL,
erab,Otto Frdde icke Mershall,•of ty
town; of Wheethr, Stenben . County,
v.
N. Y. l , o - ned 4 horse that died 14
short time sincel apparently becau6
he felt himeif iiijured or Slighted i
1 1
his Master: ; IThe horse
,was — twent
eight years ,cild nd appeared • as V ir .
t I
us' usual. :Ge eral Marahall, h'
driven hint jto the Post Office,
distitnce of one ile and a hall, on 4 '
a day, during al that time.- Eve 4
day, ,uulessl it was Sunday, .the of
horse had made his regular pilgri
age, ! driven by his . owner, to o#3
Post Office.! 1 _Aleng,th, one evening,
a short time ,agq, the General thougp i t
he-wonld drivel another- horse, an
kayo the old hOrse at home. Oni t
w ts
ay i liach fkom the office -ho met e
old 1 horse,l I who ',evidently surmiskd
that something! wrong had happen F,
and; had biclie# out of ,toe= Pastu ~ ,
The old fellow fladei his trip as '
to the Post Office, a d returning 1 d
- down and s !di d.-- urf„ Field did
Far n. ;
•,. , .
TIE o'd fp, i,er who waa dictat '.g
his will, too k an jinusual - view! of
things. He said: I"I give .and ~•6-
lueath to my }}vile the sum of xpao
, a year. In'that writ down." "'Yes,"
said the laNteye ;' "bit she is no4o
old but - that s e may marry%a o .
,Wen't you ;m
e ke any change in at
cage? Most icople do." "Ah! g •
do 1
they ? Well, wrttel i agaixi, and say, if
my wife mil agarn, - I give- andjhe
queath tosl h r the sum of £2Q) a
year. That'l do; , -won't it?" "Vhy,
that's just do ble, the sum that ehe
weak]. have li if ate Nad remelted
l td.
unmarried'," aid - the. lawyti .... r; It is
generally tit . oth e r way." _ likie,..
4
9 I said the f , r, "hut 'he who "thices
el heir will dese el °' II
saystt--" lian - 1 the
area ten. Woutati only
t she Ins grown a hes sine
itizenikof the Southiaolet;
whenhin insect troubleCtlAn
FolYnit," ts nro ntititfillag
1 -
•
• SOll6 301 1 .. Y
main tying
a Ode itsue.l .13
then. s !' i
I
- COLOREk.
say "zillion Ply
-
11
II
=I
U
El
W ed. his- companion.
.e.d - Uncle Peter,
old this spring • i
on; looks well;,i
i
and she could go .
teen if it wero no , -
that ? ". •
resumed the joely
y good. 'piece o
as a heavy , mane, 'g
et there i 3 one thin!
a mile in th.o-seven
Olcl Harry is', it?
r, impatiently.
is too great for th
d .4.lig's reply.