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House. Comm. on Repeal of the Interest and Usury Act. Act on interest and usury, 1826 [House version]
SEE ALSO 51779, 51780, 51786 On June 5, 1826, a five-member House Committee examined the March usury act and presented An act to repeal the act of
March 4, 1826 ... establishing the rate of interest ... and to revive the act March 16, 1784 ... restraining the taking of excessive usury. Then
followed the text of the 1826 act, followed by the text of the 1784 act. The biggest difference between them was that the newer act required $6/$100 only
from date of passage of the new act and allowed only the principal of an earlier contract with higher interest to be collected, but if higher interest
had been paid before, there was no remedy. The older act also required L6/L100 interest on money or goods, but declared void any earlier contract for
a higher rate of interest. (Digitized from a microfilm copy of title originally held by the Massachusetts State Library).
Title:   Commonwealth of Massachusetts, House of Representatives, June 5, 1826 : ordered that Messrs. Slocum, D., Simpson, B., Thayer, U., Barnard, N., Whipple, Charlestown, be a committee to consider the expediency of repealing an act passed March 4, 1826, entitled, "An act to establish the rate of interest, and to restrain the taking of excessive usury," and of reviving an act passed March 16, 1784, entitled, "An act for restraining the taking of excessive usury."
OCLC Number:   1381685597
Available Volumes
NameFiche CountOnlinePaper Backup
Vol. 1YesNo