Public Finance Corporation v. State

Public Finance Corporation, J. H. Delaney, and George C. Thompson were convicted of having charged interest on a loan of money at a rate greater than five per cent, per month. The certiorari was overruled and the defendants excepted.

One of the reasons on which the laws of usury are based is that the creditor shall not avail himself of the necessitous condition of his debtor to exact of him burdensome and oppressive terms. The law mercifully restrains both the power and the cupidity of the creditor, by limiting interest on loans and all contracts to a moderate fixed rate of interest, and to…