what the later statutes of England may have
been about it. The statutes were against it
in early times in very broad terms. One of
their statutes after premising that usury is
by the word of God utterly prohibited as a
vice most odious and detestable, praicticed
only by uncharitable and covetous persons,
who thereby exposed themselves to the ter-
rors of God's eternal wrath and vengeance,
justly hanging over them, goes on to provide
temporal punishment to restrain men from
that crime.
To a certain extent modern commerce, civ-
ilization and advancement have taken away
the odium which originally attached to the
system of usury. I have much respect for
merchants and traders in their lawful traffic,
and in all legitimate gains and profits from
the use of his capital, I wish him success.
But I have no sympathy with the men who
do nothing but sit down in their counting
houses and make their contracts for gold and
silver.
Mr. RIDGELY. I rise to a question of order;
whether it is in order to discuss the merits of
the question upon a motion to suspend the
rules for the purpose of amendment.
The CHAIRMAN (Mr. Dent.) It is not
strictly inorder. The chair has not restrained
the discussion, because it has been allowed to
on heretofore. The question is upon the mo-
tion to reconsider.
Mr. CHAMBERS. Can you reconsider the
vote ordering the report to its third reading?
Is there any way to amend it except by the
motion to open the section to amendment?
I understand the motion to reconsider not
now to be in order. I understand the deci-
sion of the president to have been that when
anarticle had passed to the third reaiding,
the only mode by which it could bealtered,
except by the revising committee, was by
moving to open the subject for the purpose of
offering an amendment, and we have acted
upon that plan.
The CHAIRMAN (Mr. Dent.) The present
incumbent of the chair understands the prac-
tice to have been different.
Mr. DANIEL. The forty-fourth rule provides
for reconsideration at any time. That is
another question, and a different mode of
amending from that we have adopted in some
other cases.
The CHAIRMAN. It has been the practice of
the chair to allow a motion to open the sec-
tion for special amendments; but the motion
now made is to reconsider the vote ordering
the section to a third reading, which would
bring it back to the condition of the second
reading.
Mr. CHAMBERS demanded the yeas and nays,
and they were ordered.
The question being taken, the result was—
yeas 32, nays 24—as follows:
Yeas—Messrs. Abbott, Annan, Audoun,
Baker, Belt, Brooks, Brown, Cunningham, |
Cushing, Daniel, Dellinger, Farrow, Greene,
Hatch, Hebb, Hoffman, Hopper, Kennard,
Larsh, Marbury, Negley, Parker, Purnell,
Ridgely, Schley, Scott, Sneary, Stirling,
Stockbridge, Todd, Valliant, Wickard—32.
Nays—Messrs Carter, Chambers, Craw-
ford, Davis, of Washington, Dent, Duvall,
Ecker, Galloway, Hollyday, Horsey, Jones,
of Cecil, Keefer, Lee, McComas, Mitchell,
Miller, Mullikin, Parran, Pugh, Russell,
Sands, Schlosser, Swope, Wooden—24.
The motion was accordingly reconsidered ;
and the question recurred upon ordering the
section to a third reading.
Mr. ABBOTT submitted the following amend-
ment:
Amend by inserting after the word "per
annum," in the second line, "but such rates
may be contracted for as congress have or
may hereafter allow on any loans of the Uni-
ted States."
Mr. BELT submitted the following amend-
ment:
Amend the report by substituting in lien
thereof the following:
"That the legal rate of interest in this
State shall be six per centum per annum,
except in cases of agreements between con-
tracting parties; and in all such cases par-
ties contracting shall have power to contract,
and to recover any rate of interest not exceed-
ing ten per centum per annum,"
The question was first upon the amendment
submitted by Mr. ABBOTT to perfect the sec-
tion before a decision upon striking it out.
Mr. NEGLEY submitted the following amend-
ment to the amendment:
Strike out all after the words " contracted
tor," and insert the words "as shall be
agreed upon between the parties, not exceed-
ing eight per centum per annum."
Mr. ABBOTT. If the government goes
higher, does the gentleman wish to confine it
to eight per cent.?
Mr. NEGLEY. This was so indefinite that
nothing would be constitutional lint the
amount allowed by the government. If that
were ten per cent. that would be the consti-
tutional rate. if it were five per cent. that
would be the constitutional rate I think it
would be better to fix upon some limit as the
one to which the contract may go. I think
it would be better to make the legal rate six
per cent., with the privilege of contracting
to a higher amount, not exceeding eight per
cent.
Mr. MARBURY. I am opposed to all these
amendments. I was favorable to the recon-
sideration of this subject in order that 1
might get further light upon it; but as at
present advised I am opposed to the whole
thing. It seems to me tint it is a blow at
the agricultural interests of this country. It
may be that it is politic for the government
of Epgland to repeal their usury laws. Eng-
land is in a prosperous condition, at perfect |
