The Donaldsonville chief., 1921-03-26
TO LIMIT INTEREST CHARGES.
St. Landry Police Jury Wants Rate
Reduced to Five Per Cent.

Reduced to Five Per Cent.
The police jury of the parish of
st. Landry, at a recent meeting,
adopted resolutions memorializing
congress and the Constitutional Con-
vention to adopt measures to limit
the rate of interest on money to FIVE
per eentum per annum, and suggest
ing that the police juries of all par
ishes Of the state take similar action.
The resolutions read as follows:
Whereas, it appears that interest
on money is the heaviest burden the
people bear; and
Whereas, the United States of
America, can exercise, by reason of
its pre-eminence among the civiliz-
ed nations Of the world, the greatest
influence towards the welfare of hui
manity, and premanency Of the pres
ent day. cicilization;
of the parish of st. Landry in regular
session convened, that the president,
and congress Of the United States be
and they are hereby nemorialized in
the name of the people of this parish,
to adopt some measure or measures,
whereby to limit the rate of interest
on money, and to effectively penalize
violations of such provision;
"Be it further resolved, that this
resolution and the address hereto at
tached, shall constitute this memoir
ial, and that copies Of same be trans
mitted to the Louisiana delegation in
congress, with the request that it be
presented to the president and the
congress. o
"Be it further resolved, that copies
of this resolution be transmitted to
the police juries of every other par
ish in this state, with the suggestion
and request that such police juries
memorialize the president and con-
gress of the United States as hereby =
"Whereas, the people of this state
are burdened with ever increasing
taxes by reason of the payment of in
terest and discounts, on public bonds
and obligations;
"Be it resolved, by the police jury
,of the parish Of St. Landry, in regu-
lar session convened, that the consti-
tutional convention now assembled at
Baton Rouge, be and it is hereby
memorialized to effectively limit the
authority by which, and extent to
which, interest bearing bonds and
other public obligations may be is
)sued.
ssBe it further resolved, that copies
of this resolution be forthwith trans
mitted to the chairman and secretary
of said convention, through the dele
gates from this parish;
BE it further resolved, that copy
of this resoIation be sent to the po-
lice jury Of every other parish in the
Estate with a suggestion and request
that such police juries similarly mem.
oriaIize said convention. =
hereas, it has been shown that
interest on money is the heaviest bur-
den the people bear; and
Whereas, Constitutional Con
vention Of the people Of this state is
now in session;
"Be it resolved by the police jury
of the parish Of st. Landry, in regu-
lar session convened, that said con.
vention be, and it is hereby memorial
lied in the names of the people OF
this parish, to ordain as one of the
general provisions of the new consti-
tuition the following:
"Artic1e--. The rate of interest
directly, or by way. of discount, i
hereby limited to five per cent pei
annum. Any violation whatever Of
this provision, shall work forfeiture
| of the principal obligation, either as
a defense to suit thereon, or at the
suit Of the debtor.
BE it further resolved, that this
resolution, and the address hereto at.
ftached shall constitute this rnemorial
| and that copies of same be forthwith
forwarded to the chairman and sec.
| retary of said convention, through
the delegates from this parish.
| "Be it further resolved, that copies
Of this memorial be sent to the police
| jury of every otheroparish in this
state, with the request that such po
lice juries nlennoralize said conven
ton to the same effect as hereby;
"Be it further resolved, that the
full text of the address attached here
to be printed, separately by the off
cial journal Of this parish, as part 0.
the proceedings of this body, and tha7
copies of said address be forthwith
furnished to the press Of the cities
Of New Orleans, Shreveport, Monroe
Alexandria, Lake Charles and Bato1
Rouge"