|
|
|
"The rate of interest shall be regulated by the Legis-
lature of the State, and shall not exceed seven per cent,
per annum. "
The substitute was rejected.
Mr. Longwell hoped seven per cent, would not be in
serted. This would interfere very materially with busi-
ness in the counties. While in the city of Baltimore
higher rates than six per cent, are generally received, he
knew, from personal experience, that such was not the
case in the counties.
Mr. Merrick said that he was too feeble to give his
views in full, but, if in order, he would move to strike the
whole article from the constitution. It was utterly in-
congruous—utterly out of place, as much so as the ap-
pearance of a peddler with his pack on his back on the
London Stock Exchange among the Rothschilds. He
could not, for his life, see how this subject could be ap-
propriately placed in the fundamental law of the State—
what place it could have on the pillars of constitutional
freedom, which they hoped to erect. The whole thing was
a degradation.
Mr. Dobbin said this was certainly a most important
subject, affecting the interests of the people very much
and they would scarcely be willing to leave it to the flue
tuating views of the Legislature. This matter had before
been the subject of constitutional enactment, and in this
respect they had precedent for it. As for himself, he
should prefer to have the rate remain at six per cent.
Mr. Barnes, with the greatest respect for the views of
the distinguished gentleman from Howard, (Mr. Mer-
rick, ) thought that if the Convention was only here to
declare great principles of constitutional liberty, they had
already accomplished that purpose by the bill of rights.
This subject was one which entered into the daily life of
the people and was of vast importance to them, and he
thought it entirely pertinent that a provision in relation
to it should be inserted in the constitution. He was in
favor of the report of the committee.
Mr. Marbury said he should vote for the report of the
committee. In 1864 he had been opposed to making any
alterations in this matter, because he was opposed to
218
|
|
|
|
 |
