Mexico weekly ledger., 1879-02-20
JEFFERSON CITY.
SENATE.

Feb. 11.-SenatOr Parish reported
as truly engrossed Senate bill No. IL
to regulate interest of money. The
question of interest of money is being
extensively discussed. The situation
is about this at present: The House
bill provides that the rate shall not
exceed 6 per cent, but that of the
Senate allows as much as 8 per cent.
From this conflict of opinion the rate
is likely to remain as at present
Senator Morrison reported from COM
mittee of Ways and Means substitutes
for Senate bills Nos. AZ and 1913,
classifying property for taxation, also
favorably OH amendments to law pro-
viding for collection of delinquent
taxes, and adversely ON bill changing
the time Of assessments from first OF
August to first Of June. Messages
were received from the Governor AMI
House. Several bills were introduc-
ed and a communication from the
State school Superintendent read
his referred to the enumeration o.
children and appropriation of the st
Louis schools. The president an.
nounced the following as composing
on the part of the Senate, the revis-
ion committee, Senators Wilson,
Parish and stakeholder.
Feb. 12.-Senator Morrison report.
ed favorably from committee on Ways
and Means on Senate bill 189 requir.
ing salaried municipal officers to pay
fees into the treasury. Also bill regu-
lating salary of st. Louis collector.
Senate went into committee of the
whole on appropriations. Some
amendments were adopted and the
bill ordered to be e~ngrossed. After
an hour spent in executive session,
Senate adjourned.
Fyb. 13.-The compulsory educa.
tion bill was reported on adversely
and laid over informally. The com.
mittee on education reported favora'
bly, on bill for governing city, town,
ana village schools, laid yer. Severa
bills were introduced. Senate went
into executive session and confirmed
the Fulton asylum nominations
When session arose the bill regulat
ing interest was passed. Yeas ~
Nays 6. This allows 8 per cent.
Feb. 14.-Several memorials ant
communications were presented. Th'
bill in relation to assessment of prop
erty was reported, amended and pass
ed. Several bills were introduced,
one of which provides for a board O
immigration. Senator Hudson a bill
to exempt from taxation mortgage
on real estate in certain cases, ant
providing who shall pay such taxes
INTEREST.
The st. Louis delegation met tn
committee sent up by the St Loui
Cotton and Merchants Exchanges il
regard to interest on money, ate
which the resolutions adopted by then
were read.
Senator Phelan inquired what i
the ruling rate of interest among cot
ton men. Mr.. Parnamore: We &c
money now at 8 per cent. Last yea
at 8 per cent. Eastern money Is be
ing loaned here, but if WI restrict In
terest its flow will be impeded. w
believe our chances Of obtaining
money will be much better if tn
present law remains unaltered. 1t
certainly to the benefit of bushes
that St. Louis interest laws shout
not differ materially form those Q
other cities. Mr.. Booth: We wis
the question of interest considere'
from q business standpoint. G
course commercial men want none
at cheap rates, but there are time
when money is wanted without col
lsterals. Higher rates are then de
r.anded and the risk justiies its ex
action, but when it is necessary :
pay it, business mel do not object
Sometimes their existence as mel
chants depends upon their ability =
borrow at any rate. Mr.. Chase relat
ed on instance when n Of the bes
of houses in ST. Louis paid "a pc
cent. for money, and thereby avoid
ed failure and ruin. Senator Hudson
What do you think Of 8 per cent
Mr.. Gilkerson: VIZ believe It bette