OCR Text |
Show New York is tinkering her usury laws. Tho senate of tbat State has just passed a bill reducing the penalty, for charging over seven per oont inter-eat inter-eat upon money loaned, to forfeiture of the intorcst alone. No person but the borrower oan bring suit, and no suit oan be brought unloas oommencod within six months of the expiration of the time for which the money is loaned. Thia is an extraordinarily liberal bill, and if tho people of New York are not yet prepared to adopt the broad ground that tho loaning of money should be subject solely to an understanding between the parties interested, it is perhaps, as satisfactory as should be expeotcd. |