The Mt. Sterling advocate. (Mt. Sterling, Ky.) 1890-current, 1898-02-01
NEWS
FROM THE STATE CAPITOL.
Some Legislative DOings-Var
iOus Interests.
MONDAY, JAN "a.

MONDA JAN Hf'
The House passed Mr.. Cantrilpi
bill compelling the forfture of all
interest where usurious interest ID
charged, and also Mr.. Hinton's bill
for repeating the law for the protec-
ton OF purchasers, lessees and encum-
brances of real estate. Mr.. Cantrill
spoke in advocacy of the bill, delar-
lug that many moneyed men of the
State were guilty of HIGHWAY robbery
in charging enormous interest upon
loans made TO men who were in a
defenseless position. He made a
strong speech and was frequently
applauded. The bill was passed by a
vote of 10 to 8. The bill in full is as
follows:
Section l. Be it enacted by the
General Assembly OF Kentucky I:
That Section 2.219, of chapter u, of
the Kentucky Statutes be and the
same is hereby repealed.
Section 2 And be it further enacted
that all contracts and assurances made
directly or indirectly for the loan or
forbearance of money or other thing
of value at greater rate than legal
interest, shall be void as to all interest.
The amount loaned on any such con-
tract or assurance may be recovered /;
but If the lender refuse before suit is
brought tender of the principal he
shall pay the costs of any suit brought
on such contract of assurance.
SCHOOL BOOKS.
Mr.. Chinn's bill providing for the
contract system of purchasing school
books was favorably reported to the
House. The bill is known as the
School Book Bill, and is apt to become
the law of the land. The chief points
in the bill are that:
The Governor shall appoint COM
mission of seven citizens, one from
each Appellate district, the Governor
and Supt. of Public Instruction shall
be eX-oflicio members. 1t shall be
known as the Kentucky School-book
Commission Three shall constitute
a quorpm. Term of Office 4 years,
salary, s. per day and necessary ex-
pences of travelling, session at any
time sot to exceed thirty days. 1t has
power to advertise for bids, to select
such books as are required, to demand
bond for fulflment of contract, and to
contract for books for period of five
years, Said commission shall require
all publishers submitting bids as
aforesaid to specify and guarantee
three prices: First, the contract
price; second, the retail price, which
shall not be more than 10 per cent.
above the wholesale price; third, ex-
change price, and the terms upon
which the publishing company or
companies will exchange the text
books selected by the Commission for
such books of different kinds as are
now in actual use in the public
schools of the State to which this act
applies.
1t shall be the duty of any person
or corporation or company who may
furnish books for the public schools in
accordance with the provisions of this
act to print in large letters on the out
side of the first cover of the book or
books supplied by them, the name of
the adopted book, and upon the out
side of the back cover the price at
which said book is furnished under
said contract; and it shall be the duty
of County School Superintendent,
school trustees and teachers to see
that the books so furnished and
bought by the pupils for use in the
public schols shall bear such imprint.
A fine of $40 or more shall be i'm
posed on any person charging higher
price for any such book.
Section 10. From and after the
first of September, 1898, and until
otherwise provided by law, no text
book except those contracted by said
shall be sold for use in
the public schools of Kentucky, and
from and after the LIST. day of Septem-
Der, 1899, aud until otherwise pro-
vided by law, no text books except
those contracted for by said commits
sion shall be used or fought in any
public school in this State.
A fine of from $40 to $25 is imposed
upon trustees who permit other books
than those specified to be used except
where readers or works in literature
0 IA. r.