The Elk County advocate. [volume] (Ridgway, Pa.) 1868-1883, 1876-03-16
Rates of Interest Allowed in The
United States and Canada.

luteTtSt dliOWSu NY tne lbWb VI tut
several States and Territories Of the
United States and Upper and Lower
Canada; 4.
Alabamu-Eight PEI cent. On
usurious contracts the principal can
only be recovered.
Arkansas-Six per cent, but parties
may contract for any rate not exceed
ing. ten. Usury forfeits both principal
and interest.
California-fen per cent, after a
debt becomes due, but parties may
agree upon any rate of interest what
ever, simple or compound.
Colorado TerritoryLTeh per cent,
on money loaned.
C6nne6ticut-Seveh per cent Usury
forfeits interest taken into excess OF
legal rate.
Dakota-Seven per cent. Parties
maycontract for a rate not Exceeding
twelve. Usury forfeits all the interest
taken.
Delaware-Six per cent. Penalty
for usury forfeits sum equal to the
money lent
District of Columbia-Six bef cent.
Parties may stipulate in writing for
ten. Usury forfeits all the interest.
Fl0rida-Eight per cent. Usury
laws repealed: Money may be loaned
at any rate.
Georgia-Seven per cent: Parties
may contract for twelve; A higher
rate than twelve forfeits Interest and
excess.
Idaho Tertit6fS-Ten per cent.
Parties may agree' Lii Writing for any
rate not exceeding Two pef cent, per
month. Penalty for greater rate is
three times the amout paid, fine $500
or six months imprisonment or both.
Illinois-Six per cent, but parties
may agree in writing for ten. Pen
est.
Ihdiana-Six per cent, Parties
may agree in writing for any fate not
exceeding ten. Beyond that rate Is il
legal as to excess only.
agree in writing for ten. A higher
rate works a forfeit of ten per cent.
KansasZSeven per cent Parties
may agree for twelve. Usury forfeits
the excess.
Kentucky-Six per cent, but con-
tracts may be made in writing for ten
Usury forfeits the whole Interest
charged:
E6tiisiana-Five per cent, eight pei
cent, may be stipulated for if en-
bodied in the face of the obligation,
but no higher than eight per cent.
Maine-Si& Der cent. Parties NAV
agree in writing to any rate.
Massachusetts afid Rhbde Island
Six per cent. At. any rate may be
agreed upon.
Michigan-Seven per cent. Parties
may contract any rate not Exceeding
ten.
Minnesota-Seveh per cent. Parties
may contract to pay as high as twelve
in writing but contract for higher
rate is void to the excess.
Mississippi-Six per cent, Parties
may contract in writing for ten.
Where more than ten is taken the ex-
cess cannot be recovered.
Missburi-Six per ceht. Contracts
III writing may be made for ten. The
penalty for usury is forfeiture of the
interest at ten per cent.
Montana may stipulate for any rate
Of Interest. u
Nebtaska-teA per cent, or any
rats 0n EXPRESS contract not greater
than twelve. Usury prohibits the re-
cOvery of any interest or the principal.
Nevada-Ten per cent. Contracts
in writing may be made for the pay
ment of any other rate.
New Hampshire-SiX per cent. A
highef rate f6rfeits three times the ex-
cess to the persons aggrieved suing
therefor.
New Jersey-Seven per cent. Usury
fOrfeits all interest and cost.
New Mexico Territory-Six per cent
but parties tt1ay agree upon any rate:
New 1Ork-Seven per cent. Usury
is misdemeanor, punishable by a
fine of 1000 or six months imprison-
ment, or both, and fOrfeits the princi.
pal; even in the hands of third par
North Edf6lina-six per cent.
Eight ita5 be, stipulated for when
money is borrowed. Penalty fol-
usury is double the afItOuiit lett and
Indictment for misdemeanbr.
Ohi0-SiX per cent! Contract in
writing ffiaS BE f0t eight. No penalty
attached for violation 6f law, If con-
tract is for higher rate than eight il
is void as to Interest, and recovery is
limited to principal and six per cent.
Oregon-Ten per cent. Parties may
agree upon twelve.
Pennsylvania-SiX per cent. Usuri.
GUS Interest cannot be collected. II
paid it may be recovered by suit there.
fore within six Months:
South Carolina-SeVeii per Cent.
Usltry laws ate abolished; and parties
may contract ;, without limit Con-
tracts must be In writing.
Tennessee-Parties may contract I'M
writing for any rate not exceeding
ten per cent. ..
Texas-Eight per cent. All usury
laws abolished B5 the CShstitiition.
Utah Territory-Ten per cent. No
usury laws. Any rates may be agreed
to.
Yermont-Six per cent. Usury for
feits, bfil5 the excess.
Virginia--Sf4 per Getit. Lenders
forfeits oil interest iii case 6f usury.
Washington Territory-Ten per
cent. Amy rate agreed upon in witt
ing, i'll valid.
West virgihia-Si& per cent. Ex-
cess of Interest canii0t If tisury is
pleaded: =.
WiscBnsih.-Seteti per cent. Par
ties may contract in writing for tel.
Usury fotfeits all the inteast paid.
Wyoming TertitoryITwelve per
cent. Parties may contract in writ
ing f5f ten. Usury forfeits all the in
terest paid.
Wyoming Territory-T%elSe per
cent, but any rate may be agreed
upon in writing.
Upper Canada--Six per cent, but
parties may agree upon any rate,
Lower Canada-Six per cefit., but
any rate may be stipulated for.
The Currency act of Congress limits