The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-02-17

the forfeiture of the principal and in
terest of any note, bond or other evil
er rate than per cent had been agreed,
be stricken out This amendment was
lost by a vote of 10 nays to 10 yeas.
The failure of the amendment to car
~ left the bill in it's original form, and
Senator Matthews. (Rep.. Mcpherson
county, then moved that the enacting
clause be stricken out. In support of
his motion, he said:
Il believe that this bill is unwise and
i'll timed, and that it will do a great
deal of harm to the people of this state.
l want to say that among other Objec-
tionable features it establishes a dis
elimination against state banks in IA
vOr of national banks. USury laws do
not apply to national banks in any
state, and illegal rates of interest may
be received by these institutions with
out any fear of forfeiture OF the con-
tracts National banks are institutions
of federal jurisdiction, and the only
possible penalty the state can enforce is
a forfeiture of the interest, while with
state banks to receive illegal interest is
to jeOpardize their capital
4 stand here in behalf of the small
powers, the men who borrow money in
small amounts, and 1 warn the mem
bers of this body that if you vote for
for your actions to your constituents"
Senator Sheldon: Il want to say in
answer to the sta tement concerning ma
tional banks, that all national banks
interest.
Senator wallacl-I am not in the
banking business. 1 am one of those
unfortunate creatures who are COM
PEELED to borrow money. 1 don't live
in a town where there are curbstones
and 1 therefore don't know anything
about curbstone brokers. But L do
HVe IN town where there are only
small banks, and do know that if this
bill passes it will drive these banks out
of business.
Senator Shaffer-I think the money
lOaning business is conducted entirely
on the law of supply and demand. Let
those who borrow money make their
contracts as best they can.
Senator Hessin-The law now on the
statute books in reference to interest
is good as any law that can be
passed. If this law is strictly en-
forced. and it can be strictly enforced
all will be accomplished that is de-
sired in this bill Any man who wants
to enforce the penalty and plead uSury
under our present law can recover al
that his heart may desire.
Senator Titus-In my opinion the OPP
position to this measure is for the pur
pose of defeating a relief measure for
the people. / want to warn the POpu-
list members of this senate. and don't
say this in the manner of a threat, that
if you vote to kill this measure you Will
have a number of things to answer for
when you go back to your constitu-
ents.
Ihe vote on the 1nOtlOn OF senator
Matthews to strike out the enacting
clause was then taken and the bill
killed by a vote of % ayes to Is nays.
The vote was as follows:
Senators voting in the affirmative
We're: Messrs. Armstrong, Battey
Coleman, Crossan. Farrelly, Field. Full
ton. Hanna, Harris. Helmick. Hessin,
Householder. Johnson, Lamb, Mat
thews, Morrow, Ryan, Shaffer, Sterne,
Stock Wallack, thinner.
Senators voting in the negative were:
Messrs. Benson. Braddock, Caldwell.
Campbell, Cooke, Forney, Hart, Helm,
Jumper, King. Lewelling, Lupfer,
Mosher, Pritchard, Reser, Sheldon, IL
tuS Young