usury Laws.
{"newspaper_name": "Iowa territorial gazette and advertiser.", "edition": "01", "page": "p2", "byline": ""}
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History, modern history at least, estab-
fishes the fact, that part Of the legisla-
ton of every State is, to enact laws regu-
lating the price which one man shall pay
to another for the use of his money. Laws
ofthis kind more Immediately effect two in
terests, that ofthe borrower and that of the
lender; the latter being anxious to get for
his money what he calls fair compensa-
tion, the former to get the money for as
small percentage as he can. In this way
the interests of the borrower and lender
conflict, and the Legislature Of the State Of
which they are generally members comes
in as umpire, and to certain extent, de-
cides as betwixt the parties in interest.
These laws enacted for the regulation oi
interest money, therefore, usually meet
the appreciation of the money borrowers,
and the disapprobation Of the money lend
ers. A dispute thereupon arises, the one
calling such laws just and proper, the 9th
er saying that they are arbitrary, beyond
the sphere Of common legislation, and re-
pugnant to private rights which every men
claims, to conduct his own affairs peaceably
and to his own best good. To ascertain
the rights of the point in issue between
the parties is, then, the proper object of all
enquiries into usury laws.


The point in issue, it will be remem-
bered, is this: Is it right for the legisla-
ture ofa State to enact law, saying how
much and no more, the lender may receive
for the use Of fhis money for a specified time.
We apprehend the proper way 10 settle
this question is. first, to enquire whether
1t is right for the lender to receive any
interest at all, and if that question shall be
settled in the affirmative, then. secondly,
to enquire further whether it is right for
the lender to receive whatever he and the
borrower may be pleased to agree to-
This last question being settled, will end
the enquiry, provided it shah be settled in
the affirmative. If it shall be settled in
the negative, third point Of enquiry will
arise, whether it is right for the legisla-
ture Of State to prohibit, BY Legislative
enactment, what is not right to exist or to
be practiced. 7a.


We presume there are some At the present
time who believe it is not right to receive
any interest at all for the use Of money; and
still more who believe it is not right to re-
ceive more than what is allowed BY the
laws to be received. Those who believe
It is not right to receiys any. call the re-