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220
Mr. Ritchie, Chairman of the Committee upon the rate of
Interest and the Usury laws of the State, submitted the fol-
lowing
REPORT:
The committee appointed to consider and report upon the
rate of interest ana the Usury laws of-the State, recommend
that the following be added as aeection — to the Article on the
Legislative Department :
Sec. — In the absence of contract the rate of Interest shall
be six per cent, per annum; but it shall be lawful to contract
for the payment of any rate of interest; provided, that no
greater rate than six per cent, shall be allowed or recovered,
unless the contract, wherein the same is agreed upon, be in
writing.
ALBERT RITCHIE,
J. H. PLEASANTS,
CHAS. A. BUCHANAN,
E. G. EMACK,
JOHN EVANS.
Which was read a first time.
The Convention then resumed.the consideration of the un-
finished business of Friday last, being the report of the Com-
mittee upon the Executive Department,
Pending which,
Mr. Stoddert moved to reconsider the vote by which the
Sth Section of the Report was ordered to a second reading.
Decided in the negative.
The Report was then read a second time, and
On motion of Mr. Pleasants,
Ordered to be engrossed for a third reading.
The Convention then took up for consideration the Report
of the Committee upon the Treasury Department,
Said Report being upon a second reading,
On motion of Mr. Bateman,
The further consideration of the Report was informally
postponed,
The Convention then took up for consideration the Report
of the Committee upon Education ;
Said Report being upon a second reading,
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