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Description and Holding Information
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Joint Comm. on Banks. Report on the law against usury, 1834
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SEE ALSO 51779, 51780, 52530 Senate No. 50 Report of the Joint Committee relative to the banks in this Commonwealth and in relation to the law
against usury. On January 23, 1834, a seven man committee was told to see if any bank had received more interest than was allowed and to consider if the
banking law needed to be changed. On January 31, 1834, it was also asked to consider whether to suspend Section 25 which forbid issuing promissory
notes on time and interest. On March 6, 1834, the committee reported that it had held hearings to gather information. It was apparent that irregular
practices were wide-spread and banks quite deliberately interpreted the law in their favor. It would be a jolt to the system to change this
immediately, but everyone should be put on notice that the law would change in October so all banks would have time to shape up. An Act in addition to an act
to regulate banks and banking, 1834. The sections attempted to correct the discounting evils and required the Secretary of State to carefully examine
the banks' returns for any illegal activity. (Digitized from a microfilm copy of title originally held by the Massachusetts State Library).
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Title:
Report of the Joint Committee relative to the banks in this commonwealth, and in relation to the law against usury.
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OCLC Number:
1398509370
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Available Volumes
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| Name | Fiche Count | Online | Paper Backup |
| Vol. 1 | | Yes | No |
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