Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1872-08-20

THE RATE OF INTEREST IN VIRGINIA. The
following private note from one of the abest
iurists in Virginia, who was formerly a distin-
guished Judge of her Supreme Court OF APP
peals, has been kindly furnished us for publ
cation as matter Of general interest, and to
correct some erroneous impressions with regard
to the legal rate of interest IN the old common
wealth: -Baltinnore SIM.
VIRGINIA, August II, 1872.
write to say that no change isyet made by
the recent action of the Legislature and the
people 10 respect Of the usury laws of Virginia
The repeal of the constitution in respect to the
II per cent clause does not affect the act Of the
Legislature, passed in conformity with the con-
stitution, allowing parties to contract for II per
cent. The constitution merely prohibited the
Legislature from passing a law to declare any,
thing over per cent usurious The Legisla-
ture is now merely free as it was before, to say
what should be usurious and what not I'm
der the constitution they had no right to de.
clare y per cent. contract usurous. Now
they have But. in 1870, in conformity with
the constitution, they allowed, by act ofAssem.
bly,, parties to contract for any rate of interest
not beyond twelve That law is not repealed
and is still in force. The object Of the clause
in the constitution was to prevent the Legisla-
ture from declaring any contracts for loans
within II per cent. usurious. The only effect
of the striking out this clause is to give the
Legislature the full power they would other
wise have had Of saying in all respects what
should and what should not be usury. The
act passed in 1870 says contracts may be made
for II per cent That is not repealed; until it
does not alter it. Parties may still contract for
op1, ,>or oon{ not axooo5inr opd
ue to do so until the Legislature acts on the
subject and says what shall be hereafter the
law on the subject.
SCIENTIFIC Regarding rainfall, some inter
estng statements are made by The Popular
Science Monthly relative to the quantity of
rain In different localities. For lS7l the amount
of rainfall at Fullwell, near Twickeuham, Eng.
land, was ~ inches, and about the same
amount fell at Paris and San Francisco, CAL
A careful calculation shows that one inch of
rainfall would give an aggregate OF 22,643 gal
Ions to the acre. From this basis it is found
that % IL inches would give 324,6l2, 902 gal
Ions to the square mile. If this amount be
multiplied by ten, the number of pounds of
water to the gallon, aud the result divided by
1000 for tons, and the rate of rainfall would be
nearly ,623, 064 per square mile. The quaint
ty of rain which annually falls at FIatbush, L.
l., in the Immediate vicinity Of New York,
based upon 26 years consecutive observation,
is 43 inches, and this is not far from the aver
age on the coast from Maine to Florida. This
would give an aggregate of GO 594, 900 gallons,
or.3, IL, 074 tons to the acre, an amount equal
to half the estimated weight of the largest OF
the pyramids. 10 convey this amount by rail
carriages WOuld reuuire $50 121 carriages of q
capacity of eight tons each, and providing they
we're twenty feet in length they would form
train Of ,473 miles long.