Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1810-01-30

fully to illustrate tne Propositions lately
made IN TINS paper, to recover interest
on money by summary proceedings -
The writer will not pretend that the
bill is not capable Of BENEFICIAL al,era,i.
ons.a~~A
IA Act aethorising the recovery of inter.
est by SUNNI Try proceedings; an for i'm
posing tax upon all debts secured &C
cord Ing e. this act, for the purpose O.
ma eng and establishing permanent roads
and bridges.
Be It enacted by the G eneral Assembly,
That after che passage Of this act il shall
DE lawful for all parsons t. make contracts
with each other, for the purp oseiof be. row..
ing aud lending money upon the following
terms and conditions The lender may
e>ntract to receive iateres. uDoa money
lent, az any rate not exceeding six per cent
per annun, to be paid yearly, half yearly,
or quarter yearly. The oo,is .tions in all
such cases To correspond with the form
hereulto annexed, to be acknowledged In
ssne court OF record. before judge of a
superior court, or before two magistrates.
ID the Interest reserved shall n)t be paid
within thres days after it shall become due,
and afGer demand to be m ade by the era
ditor, or any p.rssn authorised u receive
the same, upon establishing that fact by af.
Il lavt, such creditor, or other au;hori.
sed pefsJ6 s@li DC entitled to receive from
the clerk q ~ court where the same may
be recorded aRrocsss OF distress, directed
to any sheriF % osher conperen: off GER,
VINO shall proceed Herewith as in cases of
rent in arrear.
Before the creditor shall BE- entitled e.
tn benefit of such process, all obligations
executed according 70 this act shall be re /.
corded at least sixty days previous to max
ing such application, in the Office Of the
clerk OF the coanty, city, borough or town
wherein the debtormay reside, or if secur..
ed on real estate, wherein 1t may be situa
ted.
After such obligation shall be adnitte d
to record it may be- transferred in tn. Gus =.
tonary mode of making assignments, and
it shall be the duty of the clerk in whose
Office it may BE- recorded, to keep Il book
or books, in which tn proceedings relating
to such obligations snail be fully exhib ted
And after the record of every such assign.
ment, the debtor shall not be allowed 60
| plead either in law or equity, any :. scount
| to impair orNdiminish the rights OF tie as
signee (: Busz$et the debtor may proceed
In law or eVkty to establish and ecover,
from the as5sS4eS, any just claim, and Al az
| In all cases where. money is now due, and
the parties shall incline to m AXE a contrac
! according TO the principles and prov sions
OF this act, they may do so, provided the
distress for interest shall not De mtde IA
less time than twelve month ailer the date
OF the obligation Bus for debts due. by
Judgment, decree, or secured dy deed o.
trust, whether an execution has issued or
| not, or tor contracts TO be hereafter IN dde,
the parties may make tAs same bargain is
provided IN cases of money lent.
be 1t further enacted, That in all cases
where money shall be lent, or debts secu e.
ed according to this act, there shalt be paid
TO the clerk where th&same shN BE- regis
tered, one psrscent per Apnu n for the use
of the commonwealth, to % pad yearly and
in advance, either by the dN9tor or credi
tor, as they rNty \agree, az TO be stated
IN the obligations N
Every clerk in this commonwealth sh all
| make return upon oath once in 3emoRths
one copy 20 the treasurer, another TO the
| auditor, and another to the executive, ex.
hOitiug the debts recorded in his Office
with the tax by him received, and shall alsc
pay the tax received previous to such re-
turns, TO the treasurer or any other person
| authorised TO receive the same, deductins
| therefron at the rate of one per cent npon
the amount received, as a compensation for
his trouble, and In case of failure, unless
occasioned by death, sickness, or other rea-
sonable excuse, to be judged of by the exs
cutIve, each dslipqaent shall forfeit one
hundred dollars, TO DC recovered on motion
or motions, to be made by the auditor in
the General court, for the use OF the con
wealth, for every month until the same
shall be pad ieto the treasury. And If II
shall appear ukpn due examination and
trial, that suc1 *linqueut has appropriated
the money OF hy part thereof, due u
the commonwealth, to MS own use, h. snai.
forfeit MS Office and be rendered incapable
Of holding any o,aer Office OF trust, honor
| or oroft until three wears after he shall