(f) Ossulston v. Yarmouth, 2 Salk. 449; Waring v. Cunliffe, 1 Ves. Jr. 99; Connecticut v. Jackson, 1 Johns. Ch. 13; Mowry v. Bishop, 5 Paige, 98; Hastings v. Wiswall, 8 Mass. 455; Ferry v. Ferry, 2 Cush. 92; Rodes v Blythe, 2 B. Mon. 336; ChUders v. Deane, 4 Rand. 406; Doe v. Warren, 7 Greenl. 48. But see Pawling v. Pawling, 4 Yeates, 220 But annual rests in merchants' accounts, are allowed. Stoughton v. Lynch, 2 Johns. Ch. 210. 214; Barclay v. Kennedy, 3 Wash. C. C. 350; Backus p. Minor, 3 Cal 231; hut not after mutual dealings have ceased. Denniston v. Imbrie, 3

Wash. C C. 396, 402; Von Hemert v. Porter, 11 Met. 210. In cases where it is expressly stipulated that interest shall he payable at certain fixed times, it has been held, that interest may be charged upon the interest, from the' time it is payable. Kennon v. Dickens, 1 Taylor, 231, Cam. & N. 357; Gibbs v. Chisholm, 2 Nott & McC. 38; Singleton v. Lewis. 2 Hill (S. C.) 408; Doig v. Barkley, 3 Rich. 125; Peirce v. Rowe, 1 N. H. 179. But it is held otherwise in Ferry v. Ferry, 2 Cush. 92: Doe v. Warren, 5 Greenl 48. See 1 American Leading Cases, 341, 371.

Abstract of tub Usury Laws of the States.

These laws are stated from the latest information; but are constantly undergoing change, and are likely to continue so, until restrictions upon interest are abolished, as they now are in some States.

Alabama. - The legal rate of interest is eight per cent. On usurious contracts the principal only can be recovered if usury is pleaded.

Arizona. - The legal rate is seven per cent. There are no usury laws.

Arkansas. - The legal rate is six per cent., but by written contract the parties may stipulate for a rate not exceeding ten per cent. Usurious contracts are wholly void even as against bond fide purchasers for value without notice of negotiable paper.

California. - The legal rate is seven per cent. There are no usury laws.

Colorado. - The legal rate is eight per cent. There are no usury laws.

Connecticut. - The legal rate is six per cent. Though usury laws are not repealed in terms, the borrower at least cannot set up usury.

Delaware. - The legal rate is six per cent. On usurious loans the lender forfeits to any one who sues a sum equal to the money lent.

District of Columbia. - The legal rate is six per cent., but parties may stipulate in writing for not exceeding ten per cent. On usurious contracts the principal only can be recovered, and if usurious interest is paid it may be recovered by suit brought within one year.

Florida. - The legal rate is eight per cent., but parties may stipulate for not exceeding ten per cent. The principal only can be recovered on usurious contracts, and if more than ten per cent. is paid, twice the excess may be recovered.

Georgia. - The legal rate is seven per cent., but parties may stipulate in writing for not exceeding eight per cent. On usurious contracts the principal and eight per cent. interest only can be recovered.

Idaho. - The legal rate is ten per cent. but parties may stipulate for compound interest, and for not exceeding eighteen per cent. On usurious contracts, the principal and ten per cent. interest only can be recovered.

Illinois. - The legal rate is five per cent., but parties may stipulate in writing for not exceeding seven per cent. On usurious contracts the principal only can be recovered.

Indian Territory -The same rule prevails as in Arkansas.

Indiana. - The legal rate is six per cent., but parties may stipulate in writing for not exceeding eight per cent. On usurious contracts the principal and six per cent. interest only can be recovered.

Iowa. - The legal rate is six per cent., but parties may stipulate in writing for not exceeding eight per cent. On usurious contracts the principal only can be recovered against the debtor, and the creditor forfeits ten per cent. of the principal to the State.

(g) See Woodbury, J., Peirce v. Rowe, 1 N. H. 183; Pawling v. Pawling, 4 Yeates, 220; Kennon v. Dickens, Taylor,

235. Gibbs v. Chisholm, 2 Nott &' McC. 38, Talliaferro v. King, 9 Dana, 331.

(gg) Quimby v. Cook, 10 Allen, 32; Hale v. Hale, 1 Cold. 233.

Kansas. - The legal rate is six per cent., but the parties may stipulate in writing for not exceeding ten per cent. On usurious contracts the creditor forfeits the excess over ten per cent. and as much more.

Kentucky. - The legal rate is six per cent. Contracts reserving a higher rate are void as to the excess.

Louisiana. - The legal rate is five per cent., but parties may stipulate for eight per cent., or even a higher rate, if embodied in the face of the obligation or taken as a discount, but the entire interest is forfeited if the contract provides for a greater rate than eight per cent. after maturity.

Maine. - The legal rate is six per cent. There are no usury laws.

Maryland. - The legal rate is six per cent. On usurious contracts the principal and legal interest only can be recovered.

Massachusetts. - The legal rate is six per cent. There are no usury laws.

Michigan. - The legal rate is six per cent., but parties may stipulate in writing for not exceeding eight per cent. On usurious contracts all interest is forfeited.

Minnesota. - The legal rate is seven per cent. hut parties may stipulate in writing for not exceeding ten per cent. On usurious contracts all interest is forfeited.

Mississippi. - The legal rate and penalty for exceeding it are the same as in Minnesota.

Missouri. - The legal rate is six per cent., but parties may stipulate in writing for not exceeding eight per cent. On usurious contracts the creditor may recover the principal and legal interest.

Montana. - The legal rate is ten per cent. There are no usury laws.

Nebraska.-The legal rate is seven percent., but parties may stipulate for not exceeding ten per cent. On usurious contracts the principal only can be recovered.

Nevada. - The legal rate is seven per cent. There are no usury laws.

New Hampshire. -The legal rate is six per cent. On usurious contracts the principal and legal interest may be recovered, but the creditor forfeits three times the excess over six per cent. to any one suing therefor.

New Jersey. - The legal rate is six per cent. On usurious contracts the principal only can be recovered.

New Mexico. - The legal rate is six per cent., or by contract in writing not exceeding twelve per cent. On usurious contracts the principal and legal interest may be recovered, but, if usurious interest is paid, double the excess over the legal rate may be recovered. Usury also is a criminal misdemeanor.

New York - The legal rate is six per cent., and instruments reserving a greater rate are void, but any rate is lawful on call loans secured by certificates of stock, negotiable paper, warehouse receipts, or bills of lading as collateral; and if banks take or stipulate for more than six per cent. the interest but not the principal is forfeited

North Carolina. - The legal rate is six per cent., but parties may stipulate in writing for not exceeding eight per cent. On usurious contracts the principal only can be recovered, and if usurious interest is paid, double the amount of interest may be recovered.

North Dakota. - The legal rate is seven per cent. but parties may stipulate in writing for not exceeding twelve per cent. On usurious contracts both principal and interest are forfeited. Usury is a criminal misdemeanor.

Ohio. - The legal rate is six per cent., but parties may stipulate in writing for not exceeding eight per cent. On usurious contracts the principal and six per cent. interest may be recovered.

Oklahoma. - The legal rate is seven per cent., but parties may stipulate in writing for not exceeding twelve per cent.

Oregon. - The legal rate is eight per cent., but parties may stipulate for not exceeding ten per cent Usury is punished by forfeiture of the principal sum to the school fund.

Pennsylvania. - The legal rate is six per cent. Interest at a higher rate cannot be collected, and if paid may be recovered.

Rhode Island. - The legal rate is six per cent. There are no usury laws.

South Carolina. - The legal rate is seven percent., but parties may stipulate in writing for not exceeding eight per cent. On usurious contracts the principal only can be recovered, and if usurious interest is paid, all interest is forfeited and double the sum paid may be recovered.

South Dakota. - The same as North Dakota.

Tennessee. - The legal rate is six per cent. On usurious contracts the principal only can be recovered. Receiving usurious interest is a criminal misdemeanor.

Texas. - The legal rate is six per cent., but parties may stipulate for not exceeding twelve per cent. If usurious interest is reserved, the principal only can be recovered, and if paid, double the amount paid may be recovered.

Utah. - The legal rate is eight per cent. There are no usury laws.

Vermont. - The legal rate is six per cent. On usurious contracts the principal and legal interest maybe recovered. If usurious interest is paid, the excess over six per cent may be recovered.

Virginia. - The legal rate is six per cent. On usurious contracts the principal only can be recovered.

Washington. - The legal rate is ten per cent., but parties may stipulate in writing for any rate.

West Virginia. - The legal rate is six per cent. but corporations may borrow at higher rates. On usurious contracts the principal and legal interest may be recovered.

Wisconsin. - The legal rate is seven per cent. but parties may stipulate in writing for not exceeding ten per cent. If usurious interest is reserved, the principal only can be recovered, and if paid, three times the amount paid may be recovered.

Wyoming. - The legal rate is twelve per cent. but parties may stipulate in writing for any rate.