provided it be so brought within two years from the time of payment.^ The Territorial Legislature of Michigan fixed the legal rate of interest at seven per cent., by statute in 1833. The act was afterwards amended and adopted in the Eevised Statutes of the State in 1846, now in force, by which parties to a contract may stipulate in writing for any rate of interest not exceeding ten per cent. Upon contracts which do not fix the amount of interest, and upon all judgments of the courts, seven per cent, is the legal rate ; reserving more renders the contract void for the excess of in- terest only.'' In the State of Minnesota, prior to the passage of the present act, any rate of interest agreed on by parties in contract, specifying the same in writing, was legal and valid, and when no rate was specified, the statute estabhshed seven per cent. All judg- ments recovered in any Court of the State bore twelve per cent, interest from the day of rendition of the same.^ But in 1860 a new act was passed, fixing the rate of interest at seven per cent., unless a different rate be contracted for in writing, in which event parties may stipulate for any rate not exceedtwelve per cent. ; and all judgments made by any Court of the State draw interest at six per cent, only."
' Rev. Stat., edit. 1860, p. 292. ^ Eev. Stat., Mich., 161, edit. 1846: 1 Compiled Laws, p. 424, edit. 1857.
» Stat. o/Mln., p. 376, edit. 1859.
- Gen'l Laws Min. (2d Sess.), 1860, p. 226.
MISSOURI. — MISSISSIPPI, ETC. 79 In Missouri, the Act of December, 1834, allowed parties to stipulate in writing for a rate of interest as high as ten per cent, upon all contracts, and declared six per cent, to be the legal rate when there was no agreement in respect to interest. This act was amended in 1841. In 1845 the statutes were revised,