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to the wants and necessities of the people from time to
time.
Mr. Wethered agreed with his friend that this was not
a subject for constitutional provision. Money was ar
article of merchandise, just as much as anything else.
He had been in London when the Bank of England loaned
money at 2 per cent, and again at 10 per cent. He was of
opinion that the rate should be fixed at 7 per cent. The
United States paid 73-10; New York paid 7 per cent.,
and he regretted that as trustee he had to send funds
there to get this rate instead of keeping them at home.
The subject was further discussed by Messrs. Stoddert,
Ritchie, Silver, Wilkinson, Perry and Page.
Mr. Dent said the money lender seemed to have a great
many friends on this floor, and he desired to say a few
words in favor of the borrower. He could not agree that
money was like any other commodity, subject to the law
of supply and demand. Other articles could be kept
without suffering any deterioration, but money could
not, it always commanded a premium. He preferred this
matter should remain as in the constitutions of 1851 and
1864. He wanted the rate to remain at six per cent., or
otherwise he was in favor of the motion of the gentleman
from Howard, to leave this matter altogether to the Leg
islature. He was unwilling that the money lenders should
be allowed by law to charge any rates they pleased, and
if this article was adopted the effect would be, that al1
money now out would be called in to obtain higher rater
of interest. Coming from a portion of the State which
unfortunately was not now in a very prosperous condi-
tion, he was unwilling that his people should be left to the
tender mercies of the Shylocks.
Mr. Brown thought that the conclusion which the com-
mittee had arrived at was a most wise one, and he sincere-
ly hoped that their report would be adopted. He thought
that the interests of the debtor were equally protected
with those of the creditor. The usury laws belong to the
past—they are absurdities; they have been proved so, and
this has been admitted by his learned friend from How-
ard, (Mr. Merrick. ) They are an incubus upon the pros-
perity of the good old State of Maryland; they retard the
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