Brownlow's Knoxville Whig. [volume] (Knoxville, Tenn.) 1855-1861, 1860-03-10

FHtfA Nsfs taa eFVNbtdE Gi0Fy o. Tee
cd WkiE party. - s~idoass d retara.
ing sense Of iIlegfanss 70 tbs Coastita-
too, add Of he oblisptien 10 s1srsiss tks
spirit 81 eo@pr9aiss asd sonesssiss -
essential 10 tbs pssssfvssi0s Of that 10.
snes,ls trsnqsiIity which soBstita,es the
ssisty of ihs government
1870 -
Conventional Interest.
The Gsnvealiensl Intsres, Bah. from
ihs Sehats, passed he Hosss II Repre-
ssststives yesterday morsiog aaAsf = -
eoast,srAsisa. by vote ~ 80 syss 20 %
nocs The BIZ established . eeassatioa-
81 ialsrsss hot 70 exceed tan par ssBl os
s0asR isaHs5, bat leaves NE lac No
ehanfsd ia FrlstIos - al ether tnBsss-
Iiass. sxestt IN rsgsfd n vsHsisfss lor
HsaFy TIE 6alssisz is synopsis Of ne
prpy-iOus Of the till e. il passed the Scns T..
SsStiSa | provides that parties en-.
tfsssing % lVsa moaey msy legally col
isyi interest not % exceed 10 per cent
the slhie 70 Be seegrdiag 70 Sostrsel, aud
10 appear BPou tbs h0se or other syidesse
Of debt
Ssstisa 2 provides that the rte u 8
per rsBi shall coutiaus the legal rate in
the shssase Of contracts 10 ths contrary,
OF fsf shy sshsr article than borrowed
money
Sossion sProvidss ihat peFsous paying
taEes fuf The same may bay notes, bdls,
bouis " other securities, made iOT sale, Al
q rats ~ sisc9sst nol 70 e1osed tan
per cent "asi II the ssEe b. doe Il
the tine u sale, Or b. nsjs 10 bear ia
tstess on ja ig'Beht be conferred there
90, nJ gEeateF rats sksli be given therefor
than tea pr esEt. diseoaas, ihcls4iaz the
interest that has q msy sesun5ylsss ;hers-
On up 70 the tsy u paymsn, sgrssi on
Aad il Is farther provided tbas 90 note,
bail, load, ar other security for messy
hsgo,iassJ according is The farsgsiHg
provisions. shall be nlJHsd u bear iDeFs
than siI par esss Per aHsum, anls,s al
% the iuterett agreed 10 be paid Up %
che tinse fIel fJr payment shall be eg1a-
ted ~ the di.rsuat - ,aksa
Sectios 4 provides that persons lOsaiaE
moRey at more ibaa ten per csat shall sog
lawfaily collect any Interest, ahd il paid,
may be recovered By tn party paying,
M. hoirs, creditors Re
Ssciioa 5 provides shat persons pas.
sahsiag Hosss al greater rAisof discount
than ten per cent counting iateTest &C,
eamaiatci o. tc aesanHIl.e, caaaos col.
lesi The saoant - s.ceediag sen per
cent "a Bsiiee shah BE- necessary % par
Iiss purchasing thai nSts is made % be
ssil
Ssctiaa provides that ao,es, &c,
made 70 bs sid .haii not bssr more thaa
six per cent iasefas, unless the sd1itisa-
a interest J. ealeuiAssd ia the disc0an,
taken Of. IA beisg the t8tsstioa of the
act THAI Ten per ssss per aaaam b s2ec.
lied 90 the oOAtTzet, % say lsss aagaat,
eHcrdIag six per cent shall apply alone
10 the contracts bstsrsa borrowers aaa
lenders
Section 7 makes Violations ofths act
iBjirtsbis - mtsisneaaors. hnahis Ma
less JAaR so, % Il the asaroas interest
% Discount b. a'aTs. in the fall AnSasI
- illegally taSsE provided that = soa-
tract {, violate the Law completes ihe II.
Fgpcs as much a. az sc nal Si,laHoa
,ssiakra Il the iaiy II The CircuH JaiSs,
tn al eases where It may appear frUa
tTIals a laS or sslaity, aha: tes lIE has
been violated, 70 dirses the Aitefaey
Gensrai 10 eosnmense a prosecution or
il the facts are proven ~ a eesFt II
Chanrcry, the Clerk aui Mastat Is re
CURED to notify The GREAT Judge, IA
opea Coarts, the agesse, Who shsH 10
hke manner II he thiaks the proof sueso-
lent, direct prosecution u be made; Jas-
tees Of she l'eacs are iaa like maaBsr
required to BatIfy she CsFesit Jaiss.
SestiOa 5 pfoysje' thai the Lac shah
take ssee, from and aiisr September lsi,
1880
Section = sss amended. making il laE-
fat 10 FsasS debts created By borrosins
nosey At 10 per cent; sat especially pro.
vidvs against taklss more than 8 per
eSst for ahy liability eOs OEisihstiog ia
mORey loaned.
The PrOyiso - ssesisa threswAs ssrisk-
en- oRl
4 stellar Prtvisioa is section Eth sas
stFisksa apt ....
Section 8 Sas ssF,ekea oat saiirs.
Asothsr amsndmsat mskes is lsHfal
10 elsceuug "solveDs, fzal transaction pa.
PEI sf sny aiscfipsioa 81 rate uos exeeeding
ice per cent, sssinat,SE siW-ys the Tsis
sf ipisress said paper asy bear e. PaFs
Of such per eesti sud that no license
shah Be AessssrY TO EulhoviEe saeh dis
eoants provided sAAi al suas received
beysnd the aid ssa per eoat shah be
anlasfsl sad tbs Pvrsaa - receiving
shall be guilty 81 IsisdenssuSr; proyi.
aed Money Sasd under this &C, shall be
given 10 The tax assessor a. taxable prog.
cray, froR . schedule kept b. the PsEsOs
lesaEag. - Be saeEH ~, aaa aay evasion
Of this pFovisius shah b Fusishshls - =
pisdemeasor =-.sasAsills BasRsr