The workingman's advocate. [volume] (Chicago [Ill.]) 1864-1877, 1876-04-01

Caiifornia.-Tsn per cent. is legal inter
eat after debt becomes due. and runs nm
til entry Of judgment; but parties may
agree upon any rate of interest whatever,
simple or COMPOUND.
Connecticut-Whent there 10 no agree
ment. 9 per cent. il lawful but il il also
lawful to stipulate for per cent The
latter rate was legalized August IA, 1874
The penalty Of usury 10 forfeiture Of the
interest taken.
Colorado--The legal rate ia 10 per cent;
NO penalty for nsnry.
Delaware.-Legal rate 9 per cent. Pen
atty for usury In forfeiture OF n sum equal
To the money lent.
/ Dakota TerritOry.-Legal rate per
cent. Penalty for usury the borrower is
entitled t. recover from the lender all he
gave to the latter under nm usnrious con-
tract, without restoring or paying anything
to the lender
Florida. Eight per cent. 10 the rate al
lowed where interest accrues without q
contract or on Judgments. All Rsury laws
have been repealed.
Georgia. When not otherwise contract
cd in writing, the legal rate in this State
is per cent. There Is no nsury Law.
llIinOis.-The legal rate In o per cent
The penalty Of usnry is the forfeiture Of
the entire interest but no corporation is
permitted to interpose the defense Of US
ury.
lndIana--LegAl rate 6 per cent. but any
other rate not to exceed 10 per cent. NAV
be provided by written agreement. All
over 10 per cent. il usnrious, and illegal
as to the excess only.
IoWa-Legal rate in 6 per cent. but it il
lawful to stiPulate for a rate not exceeding
10 per cent ANY higher rate than this
contracted for, works q forfeiture u 10 per
cent, ON amount If contract 20 the school
fund and plaintiff can have judgment fol
the principal only, without interest OF
c, SIS.
Kansas. legal rate il per cent.
PARTIES may. in writing, contract at any
rate not exceeding IL per cent. Usury
forftits interest only in excess Of IL pei
cent.
Kentucky.-Legal rate Is 6 per cent
Parties may make contracts in writing, fol
a rate not xceeding 10 per cent. per an
nun. The penalty for usury is the for.
feIture OF the entire interest and il the
lender in such usurious contract Charging
more than 10 per cent. refuses, before sui
IS brought, atendsr OF she principal without
interest, he may recover the principal, but
must pay the suit.
Louisiana rate is 5 per cent.
Eight per cent. is permitted in contracts,
aud higher rate may be collected il EN-
bodied Ia the lace Of the obligation, or by
way OF discount but no higher rate than
Sper cent. after the matWFitg 90 the obliga-
ton. il lawful, and any stipulation Of This
character forfeits the entire interest.
Malne.-L-gal rate d per cent, but par
ties may agree. III writing, to any rate Of
interest.
Maryland.-Six per cent. per annum i.
legal. OsurIous contracts cannot be en-
forced for excess above that rate.
Massachusetts, Legal rate 6 per cent,
but any rate may be reserved or contracted
for in writing
Michigan rate is per cent. II
IS competent for parties to contract for q
higher rate, not to exceed ID per cent
The penalty for usury Is a forfeiture of the
excess bnt, after voluntary payment Of
such excess is made, no action can be main.
tanned 10 recover it back.
Minnesota. Legal rate per cent, but
a
per cent. per annum. No usury Law.
Mississippi. The legal rate on all debt.
IS per cent. per annum, but parties ma,
make contract, IN writing, for any percent
age. Usury law repealed il 1873.
Missouri legal rate is per cent.
but parties may contract in writing, fol
any rate not exceeding 10 per cent Til,
penalty for nsury is the forfeiture of tn,
interest a. 10 per cent. to the common
schools, and the recovery Of costs by tn,
defendant.
Nebraska.-The legal rate is 10 pei
cent, Or, IN written contracts, not higher
than r. The penalty for usury IS to pro
hibIt recovery u any interest Oh the prin
cpal or ~ any costs in the action. Tn,
principal can be recovered.
Nevada.-The legal rate il 6 per cent.
but parties nsay contract, ia writing, fo
the payment # another rate.
New Hampshire--G per cent. is tn,
legal rate nothing higher permitted il
e'Htrae;s- The penalty for usury is tina
three times the amount Of the uSury BE-
deducted from the debt.
New Jersey Legal rate is z Der cent
Usnry punishable BY forfeit Of ali Interest,"
and e,.s 8
Nr~ uexicD.-Where no rate il stipu
lated the laS gives per cent, otheawis,
amy rate that Is agreed upon by the par
ties Is permissible.
New York. legal rate is z per cent.
Csury Is, or has been Until very recently,
a mIsdemeapor, punishable with tne OF
imprisonment, or both.
North CAr,iina.-L Legal rate ia per
cent, but may be tilulated for When
money is borrowed. The penalty for usu
ny is loss Of the whole interest.
Ohiu--SIx per cent. il the legal rate OF
interest, but parties may contract for 8
and no penalty is attached to violation
Of the law. Ii contract is made for a
higher rate than per cent, it is void az
to interest, and recovery is limited to the
principal aud per cent.
Oregon. legal rate is 10 per cent,
but II may be lawfully agreed upon as the
rate.
Pennsylvania The legal rate is PEI
cent. Usurious interest cannot be collect
ed, and il paid, may be recovered il sui
Is brought within six months. Commits
sion merchants and agents may contrac
with parties outside the State at pei
cent.
Rhode Island.-Six per cent. il the le
gal rate, but any rate may be lawfully
agreed npon.
South Carolina Legal rate z per cent
All usury laws abolished.
Tennessee. absence Of contract "a
to the rate, the law allows per cent
Parties may contract at a rate not exceed
ing 10 per cent.
Texas.-The legal rate is 10 per cent
All usury laws we're abolished Ia 1869.
Urah.-In this Territory the legal rate
IS 10 per cent, but any other rate may bs
lawfully agreed npon. No usury laws.
Vennont.-The legal rate is per cent.
Nirvin'a-In this Stase the rate Of in.