, 1868-01-24
TRANSLATION
wilhelm Ludwig Birch,

- 1542G47AA' 4UC2V1S D4G C41.
Governor of the Danish Westndia Islands,
Commander of Dannebrog and Dannebrogsmand,
Make known: In virtue of 5 3 of the Colonial Law
of 9th November 1868, | have Professionally sanctioned
the following Ordinance, adopted by the Colonial Councils
of st. CroiX aud of ST. Thomas and st. Johns
l..
The general legal rate OF & per cent interest in the
danisL-westindia Islands, fixed in the Danish Codes 5th
Book, 18th Chapter, 9Th Article, and the Rescript OF 9th
April 1910, shall in future only be the limit of interest on
loans with mortgage in landed property in the Islands of
st Croix and st. Johns; but the rate of interest on all
other loans i'll the aforesaid two Islands, and on all loans in
the Island of St. Thomas, shall be free and unlimited.
2.
Itshall be lawful for creditor and debtor to agree, haiti
no deduction shall be made in the interest due the creditor,
Tor the quart-percent-tax which in st. Croix the debtor
according to the Ordinance OF 18th April 1879 has to pay.
When a debtor fails to pay his debt in due time, he
shall pay an additional interest of 1 per cent p. a., reckoned
from the day the creditor in legal manner sues him for pay
ment and until payment be made, above the rate of inter
est warranted by Law or by the agreement between the
parties or by the custom and usage OF merchants. This
shall also be applicable in regard to loans on mortgage in
landed property, but subsequent m0rtgaoeholders shall not
suffer by such addition to the rate of interest fixed for such
loans in the Islands of st. Croix and st. Johns, or to the
rate OF interest stipulated in the respective mOrtgage-deeds
in the Island of St. Thomas.
The right of preference established by the Ordinance
of 18TH March 1890 for interest due, such interest going
before nlOrtga9e-uceuS OF a later QaCe, snail IN future IN
the danisl-wcstindia Islands, the same as is the case in the
Mothercountry, only extend to a period of one year from
the day the interest becomes due but in regard to mort
g~age-deeds already issued, this enactment shall not be APP
plicable before the next term of payment that falls due
after the FORMULATION of this Ordinance.
5.
Instead of the penalty for usury, prescribed in the
Danish Codes, 18th Book, 14th Chapter, 18th Article, and
in the Ordinance of 14th May 1854 5 6: viz: the confsca-
tion of the capital, there shall be inflicted fines on parties
found guilty of that transgressiOn such fines not to be
below four times the amount Of the illegally gained adj
vantage and not to exceed twenty times that amount, pro-
Vided accurate information can be produced regarding the
amount SO gained, and if not, then a fine suited to all the
circumstances Of the case shall be imposed.
g..
The limit prescribed in the Ordinance of 14th May
1854 5 6 for the fee to commissioners or negotiators, and
the penalty there prescribed for transgressions thereof are
abolished.
To which all concerned have to conform.
The Government of the Danish Westindia Islands,
p. t. st. Thomas, the 9TH January 1868.
Under my Hand and the Seal Of the Government.
w. BIRCH.
R0Senstand.
Provisional Ordinance
modifying the enactments re-
lating to the legal rate of in
terest, the right of preference