In Louisiana, by the 2,895th Article of the Civil Code, interest is fixed at five per cent, on all sums which are the subject of judicial demand, and on sums discounted by the Banks, at the rate established by their charters. Conventional interest cannot ex- ceed ten per cent.^ But in 1860 an act was passed by which it was provided that the owner of an obli- gation for the payment of money might collect the whole amount of the principal, notwithstanding such obligation included a greater rate of interest than eight per cent., and repealed all laws in conflict with said Act.' In Maine a statute against usury was passed in March, 1821, and established six per cent, as the legal rate of interest, with forfeiture of the whole debt for taking more ; one moiety to the informer, and the other to the State. It was amended in 1834, by authorizing a defendant to plead usury in bar, or when paid, to recover back the excess, provided the action for that purpose be brought within one year of the date of such payment. The laws on the sub- ject of usury, with the rest of the statutes, were ' Morehead & Brown's Dig., 852, 856. See note and cases cited; Rev. Stat. Ken., p. 63, edit. 1860.
- 7 L. R., 520. Cox V. Mitchell.
" Acts of i>th Lecjis. of Louisiana, Jan'y, 1860.
revised, however, in 1840, and again in 1857, and as revised are still in force. They fix the legal rate of interest at six per cent., except as to letting of cattle, or similar contracts in practice among farmers, mari- time contracts, bottomry-bonds, and exchange in practice among merchants. On contracts reserving more, the excess will be deducted from the amount due, and recovery for the balance only had, and excess paid may be recovered back in action brought for that purpose within one year.'^ In Maryland the first act against usury was passed in 1692, and provided, that no person within the province should upon any contract take, for the loan of money, or other thing to he paid in money, more than £Q per cent. ; or for the loan of tobacco, wares, etc., to be paid in hind, £8 per