V irginia 



The display of a character thus constituted, will 

 naturally be in acts of extravagance, ostentation, 

 and a disregard of economy; it is not extraordinary 

 therefore, that the Virginians outrun their incomes; 

 and that having involved themselves in difficulties, 

 they are frequently tempted to raise money by bills 

 of exchange, which they know will be returned pro- 

 tested, with 10 per cent, interest.* 



The public or political character of the Virginians 

 corresponds with their private one: they are haughty 

 and jealous of their liberties, impatient of restraint, 

 and can scarcely bear the thought of being controuled 

 by any superior power. Many of them consider the 



* By an act of assembly, if any bill of exchange is drawn for the 

 payment of any sum of money, and such bill is protested for non- 

 payment, it carries interest from the date thereof, after the rate of 

 io per cent, per annum, until the money be fully satisfied and paid. 



A very curious anecdote relative to this law was mentioned to me 

 at Williamsburg, of which I am persuaded the reader will excuse 

 the relation. An usurer, not satisfied with 5 1. per cent, legal in- 

 terest, refused to advance a sum of money to a gentleman, unless, 

 by way of security, he would give him a bill of exchange that should 

 be returned protested, by which he would be entitled to 10 per cent. 

 The gentleman, who had immediate occasion for the money, drew 

 a bill upon a capital merchant in London, with whom he had never 

 had any transaction, or carried on the least correspondence. The 

 merchant, on the receipt of the bill, observing the name of the 

 drawer, very readily honoured it, knowing the gentleman to be a 

 person of great property, and concluding that he meant to enter 

 into correspondence with him. The usurer upon this became en- 

 titled to only 5 1. per cent. He was exceedingly enraged, there- 

 fore, at being, as he supposed, thus tricked: and complained very 

 heavily to the gentleman of his having given him a good bill in- 

 stead of a bad one. 



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