The Democratic Whig

Kendall's Ex.

On Saturday, a new bill to suppress usury and extortion, introduced by Judge Pirtle, and by him supported with great effect; passed the Senate of Kentucky. It will doubtless pass the House. It provides that creditors may recover any interest that may have been paid by a defendant on a usurious contract, a return of no property having been made on the execution against such defendant. If no creditor sue for such interest, the Commonwealth may do it; and these suits may be brought at any time within ten years.

It provides that, on new contracts, seven per cent. may be charged during the year after the passage of the act.

Section three provides that, when suit is brought for the payment of money or property, and affidavit shall be filed therein by the plaintiff, stating whether or not usurious interest was directly or indirectly charged, and if the affidavit states usury, then judgment to be rendered for principal only. Section Four provides that an assignee of a note, in suing, must file an affidavit, showing the amount of discount was greater than ten percent. he can only have judgment for the sum actually paid on interest, the balance going into the jury fund. The assignee must also make affidavit that there was nothing of usury in the making of the note, or, if there were, he can only recover the principal, though he took it himself at the legal discount. The bill further provides that sheriffs shall not purchase notes over $50, or buy a judgment, or take anything to forbear, execution or delay sale, or pay to the plaintiffs less than the full amount collected on an execution, deducting fees &c. Similar provisions are made in regard to constables.—L. Journal.