The daily Minnesota pioneer. [volume] (St. Paul, Minn.) 1854-1855, 1854-05-26

hen no rate 10 meutoneoS u - SIX
pS Gr.. Ten n.r e.o1. Usiou coaSc,s are void
Ark. Digesf, p. 61S, ct seb.
CALIfoRNIA.-Wheret there is no express con.
sracs 80 writing, fixing different rate, interest shall
Be allowed at the rate Of ten per cent. per annu.n lot
al monies after they become due on any bona' o"'
promissory note or other instrument OF wr!'inS' u
any jud 3ment recovered before any court o.
for money lent, for money due en- the VI DC
eoants. from the day which the o"mnce 70 a.cer'
taned. and Tor money received 10 sne use ., a"o..er
ahy rate Of interest whatever, on money due, or to
become due on any contract. Any Judgment render
ed on such contract, shah conform hereto and shalt
bear the interest agreed upon by the parties, and
which shall be speci6ed in the Judgment.
The parties may in any contract in writing, where.
BY any debt is secured to be paid, agree that il the
interest such debt Is not tuactsaly paid, it shall
become part of the principal and thereafter bear
the same rate Of Interest the principal debt
State Cal.
CoNNECTIcUr.-Six per cent. In usurious
tracts, the principal can he recovered without the
interest. Persons guilty OF taking usury, forfeit the
whole Of the interest-one halt to him who shall
prosecute effect, one half to State Treasury.-Rev.
Stat. Of lS4s. Public Acts Of lS49, p. Al.
DELAwARE.-Six per cent. Whoever exacts
more Is liable to forfeit the whole deih-one half to
the State, and half to the prosecutor.
FLoRiDA.-Eight per cent. BY agreement; If no
rate he specified, then six per cent The person re-
serving hiSher rate shall lOfet the entire interest
-Th,mpson's Digest, p. "a.
GEoRGIA.-By the statute of lS45, the legal rate
Of interest, which p,evious to that time had been
eight per cent, reduced per cent, and
the penalty for usury made forfeiture Of the whole
interest, legal us we'll usuriOus.- See Pamphlet ACT
Of 1915, PIP. IS and &c.
This act took effect 18th December, l845. All
contracts previous to that date, eight cent Inter-
est up to the time Of PAYMENT although not dscharg-
ed until subsequently to The ahove mentioned act.
lLLlNOis.-Six per cent, where no rate is specl-
fed. BY contract parties may go Us high as ten per
cent. He who reserves a higher rate than ten per
cent, shall forfeit three times the amount of the
tire interest reserved.
INDIANA.-Six per cent. Usurious interest can
not be recovered; and paid, may lie recovered back
at any time within year after the payment. Any
persons receiving illegal interest shall, upon convic-
ton. be fined double the Of interest taken.
Revised Laws Of Indiana, pages $50, $50.
lOwA-Whcn no agreement is made respecting
interest, the legal is six per The egsla-
ture 1851, passed an act abolshing all usury laws.
kENrUCKV.-Six per cent. The agreement for
WsurOus excess is void.
LOuIsIANA.-F per cent; but parties may
agree on any sum as high as eight per cent. Usur-
Contracts are void.
MAINE.-Six per cent. If more be agreed to he
taken the debt claim is forfeited luxurious inter-
est may Ike recovered.
MARYLAND.-Six per cent. Contracts where
more is agreed for reserved, are not void,
except to the excess.
MAssACHUsErTs.-Six per cent. When the de-
fence for usury established, the defendant shall
his full COSTS and the plaintiff shall forfeit
threefOId the amount Of the interest
ed taken.
The party paying us,rious interest may recover
thrcefold the amount of the unlawful interest SO
paid.-Supptement Of 1916, page 1888.
MIcHIGAN.-Sevem per cent, with permission to
agree upon any rate not higher than per cent, for
a loan OF money. Contracts not void for usury
beyond the usu,iOus excess.
MIssissiPPi.-Eisht per cent. for bona fide use
OF money; SIX per cent upon other contracts. The
penalty for usury the loss of the entire interest
Hntclpnson's MISS. Code, page TAI.
MissoURi.-Six per cent. II plea of usury be sus.
tanned, the whole interest to 60 to the of Common
schools. Insurer may be presented by an nforman,
and the whole interest set off to common schools.
NEW HAMPsHIRE.-Six per cent, and If more
be taken, the party foiets three times tho
lawfully taken.
New JERsEY.-Six per cent, and contracts for
higher rate arc void. Persons taking higher
rate forfeit the whole value Of the subject Of
the contract; one half to the State, half the
prosecutor.-Stattes Of NeU Jersey, p. 765.
NEW YORK. Is Seven per cent.-all contracts
whereby hi her rate is reserved, are void. Cor
pora,io"s cannot set up tie defence Of usury.
NORTH CARoLINA.-Six per cent. All contracts
whereby greater rate is reserved void, and the
party exac,ins it is liable to orei, double the amount
OF the debt one half to the State, and the other
half To The person suing for the same, by action of
debt, in any Court Of ecord.-Rersed Statutes, ch
III.
OHIo.-Six per cent. On written agreement any
rate as high as ten per cent. II more be reserved,
the excess is void.
PENNsYLvANIA.-Sixp per cent, and If greater
rate attempted to be secured the party NAV rec"v-
the actual sum loaned with legal interest thereon,
and a qu tam action must he instituted within one
year from the commission of the offence, when for
fixture is sought.
When any railroad canal company has borrowed
money and given bond, other evidence Of in
deb,edness in larger than the amount actually
received, such transaction shall, he deemed usur-
ous
RHODE IsLAxD.-Sx per cent. In an action
brought upon u<usurious CONTRACT the plaintiff can
recover the principal with legal interest aud costs of
suit.
South CARoLIyA.-Sevcn per cent. The party
rcscrvng more, forets the entire interest, and
pay the costs.
rESXEssEE.-Six per cent, and the person ex-
acting more. is liable To fine ot not less than the
amount Ssuriously taken.
TExAS.-Eight per cent. Parties may agree up.
on any rate as high as twelve Ter cent. Any viola.
ton Of this incrs IA fo fixture of all the inter.
est:-Laws Of Jan. 1910, col APPS.
VERMoKT.-Six per cent. and interest paid be-
yOnd that rate may lie recovered back, with coss-
Rer. Stat. Of w., p. 366.
VIRGINIA.-Six per cent. All luxurious contracts
are void. with the penalty Of forfeiture Of twice the
amount of the debt.
WIscoHsIN.-Scvenp per cent. Persons may agree
upon any rate high twelve, such agreement TO
be in writing. Any agreement for more forfeits the
whole debt.-Act Of lS4l.
Well Said.
The Sil7er Creek Gaxette having been accused of
being wanting in Difference, in its remarks upon the
three thousand cle'gy,nen who pctitoned Congress.
upon political question, lately replies: