First National Bank v. Childs
Massachusetts Supreme Judicial Court
Contract on a promissory note for $600. After the former decision, reported 130 Mass. 519, the case was submitted to the Superior Court, and, after judgment for the plaintiff for the face of the note without interest, to this court, on appeal, upon agreed facts, the material parts of which appear in the opinion.
1Opinion of the CourtDevens, J.
The act of Congress to establish a national
currency superseded the state laws on the subject of usury so far as they might otherwise be applicable to national banks. U. S. St.. June 3, 1864, § 30. U. S. Rev. Sts. §§ 5197, 5198. Central National Bank v. Pratt, 115 Mass. 539. Davis v. Randall, 115 Mass. 547. The power vested in Congress to' establish a bank and to authorize it to lend money, involves ■the power to fix the rate of interest it may take, and to prescribe the penalties for taking a greater rate. The rate of interest which under this legislation a national bank was entitled to…
2Cases cited8 opinions
- Farmers' & Mechanics' National Bank v. DearingSupreme Court of the United States · 1875
- Barnet v. National BankSupreme Court of the United States · 1879
- Davis v. RandallMassachusetts Supreme Judicial Court · 1874
- National Bank v. . LewisNew York Court of Appeals · 1878
- Central National Bank v. PrattMassachusetts Supreme Judicial Court · 1874
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3Cited by11 opinions
- Gladwin State Bank v. DowMichigan Supreme Court · 1920
- ROCKLAND-ATLAS NATIONAL BANK v. MurphyMassachusetts Supreme Judicial Court · 1953
- Woodson v. HopkinsMississippi Supreme Court · 1904
- Bowden v. GabelMontana Supreme Court · 1937
- McAnally v. Ideal Federal Credit UnionSupreme Court of Oklahoma · 1967
6 more not listed; retrieve them via the Exa API.