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Description and Holding Information
House. Comm. on Interest Rates. Report, 1825
In 1825, the House Committee that considered the usury bill asked to drop two sections in favor of their new language: the interest would be 6%,
whether for a small or large sum and loan period long or short. If any contract contained a higher rate, that part of the contract was void, but the
rest of the contract could stand. If a suit pending in court showed a higher rate of interest, the suit could only go forward with the 6% rate. This
would repeal the usury act of March 17, 1784. The amendments were accepted on June 14, 1825. (Digitized from a microfilm copy of title originally held
by the Massachusetts State Library).
Title:   The committee to whom was referred a bill entitled "An act to establish the rates of interest," have had the same under consideration, and ask leave to report ...
OCLC Number:   1381685378
Available Volumes
NameFiche CountOnlinePaper Backup
Vol. 1YesNo