Year: 1872

Strike out from the Constitution OF
the State of Virginia the clause in ref
erence to usury, which is in these
words


" UsU.y.-Upo debts hereafter con-
tractcd it shall be lawful to receive any
rate of interest not exceeding twelve
per cenIum per annUm which may be
agreed upon by the parties and be
specified in the bond, note, or other
writing eyidencing the debt. When
there is no such agreement the rate of
interest shall be six per centum per
annum for the use and forbearance OF
every hundred dollars"


AN ACT TO PROVIDE FOR SUB


MISSION TO THE PEOPLE OF


THE PROPOSED AMENDMENT


TO THE CONSTITUTION OF


VIRGINIA IN RELATION TO


THE CLAUSE IN RESPECT TO


AND ENTITLED "USURI." In


force March 19, 1872.


/. BE it enacted by the General As
semGly, That it shall be the duty of
the officers conducting the election di-
rected by law to be held on the fourth
Thursday in May next, at the place
appointed for holding the same, to
open place to take the sense of the
qualified voters of this Commonwealth
upon the ratification or rejection of
the amendment to the Constitution of
Virginia contained in joint resolutions
agreeing to an amendment to the Con-
stitution of Virginia in relation to the
clause in respect to and entitled usury,
and directing q submission of said pro-
posed amendment to the people for
their approval and ratification, in force
January twenty-secOnd, eighteen hun
dred and seventytwO-viZ: Strike out
from the Constitution of the State of
Virginia the clause in reference to
usury, which is in the following
words:


UsURY."


"Upon debts hereafter contracted it
shall be lawful to receive any rate of
interest not exceeding twelve per ceil-
tum per annum which may be agreed
upon by the parties and be specified III
the bond, note, or other writing evl-
dencing the debt. When there is no
such agreement the rate of interest
shall be six per centum per annum for
the use and fOrbearance OF every hun
dred dollars"


>. AT such election each of said vO-
ters who shall approve said amend
ment shall deposit a ticket or ballot on
which shall be written or printed the
words " For striking out the usury
clause in the Constitution, and each
of said voters who shall be opposed to
said amendment shall deposit ticket
or ballot on which shall be written or
printed the words Against striking
out the usury clause in the Constitu-
tion."


8. That Immediately after closing the
polls the said officers shall count the
ballots deposited at said election fer
and against said proposed amendment,
and shall make return thereof at the
time and in the manner provided by
law, as in the case of other elections
and it shall be the duty of the clerks
and commissioners of election of each
county respectively 10 make out, GER
tify, and forward an abstract of the
votes cast for and against said proposed
in the manner now pres
cribed bv law in relation to votes cast
in general elections.


4. It shall be the duty of the Sccre-
tary of the Commonwealth and of the
State Board of Canvassers to open and
canvass the said abstract of returns,
and TO examine and make statement
of the whole number OF votes given at
said election for said proposed amend
ment. and against said proposed
respectively, in the man
ner now prescribed by law in relation |
TO votes cast in general elections; and |
il shall be the duty of the Secretary of
the Commonwealth to record said Ger
tilted statement in his Office, and with |
ont delay to make out and transmit TO |
the Governor of the Commonwealth |
am official copy Of said statement, GER
tilted by him under his seal of office. |


5. The Governor shall, without de-
Law. make proclamation OF the result, |
stating therein the aggregate vote for |
and against the amendment, to be pub |
lished in such newspapers in the State |
as NAV be deemed requisite for gene
raj information and If majority OF |
said votes be cast for the ratification
of the said amendment he shall annex