Congressional Edition Volume 2219

Congressional Edition Volume 2219

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1884 edition. Excerpt: ...cent. For commercial notes given on time, with interest, the rates would generally be very much higher, varying from 10 to 12 per cent., according to circumstances. If, however, no rate of interest is stipulated, only 6 per cent, can be recovered, as custom in this matter has assumed the force of statute law. By the usury law of Austria, passed in May, 1881, judges of courts are empowered to examine all cases where usurious interests or transactions are brought to their notice, and at their discretion determine when usury has been practiced, which judgment carries with it a fine of from 100 to 500 florins and an imprisonment from one to three months. It is interesting, in this connection, to remark the large discretionary powers accorded to judges of courts, being doubtless the same paternal spirit manifesting itself in the jurisprudence as in the government of this country. EVILS OF CREDIT. 9. With what classes are the evils of credit most conspicuous? If unproductive credit be implied in the question, then undoubtedly the laboring classes are the greatest sufferers, since such credits become a strong incentive to improvident and extravagant methods of living, which eventually must lead those indulging too freely into wretched poverty and utter ruin. CASH PRODUCTS. 10. What kinds of produce or manufactured articles command cash returns? Meat, fish, wine, and in general all articles of food; although these also are sold at time credits, secured by accepted bills for three months or longer, according to circumstances. It is very rare, indeed, that any of the staple articles of trade, when sold in large quantities, can command cash returns, but frequently retailers or wholesale dealers, when selling to commission merchants, require weekly cash...
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Product details

  • Paperback | 406 pages
  • 189 x 246 x 21mm | 721g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236571142
  • 9781236571144