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FOR the avoyding of excessive usury heretofore commonly used in this kingdom ; be it enacted by the King’s most excellent Majesty, the lords spirituall and temporall, and the commons in this present Parliament assembled, That no person or persons whatsoever from and after the first day of May next ensuing, upon any contract to be made after the said first day of May, shall take directly or indirectly for loane of any moneyes, wares, merchandize, or other commodities whatsoever, above the value of ten pounds for the forbearance of one hundred pounds for a yeare, and so after that rate for a greater or lesser summe, or for a longer of shorter time, and that all bonds, contracts and assurances whatsoever, made after the time aforesaid, for payment of any principall, or money to be lent, or covenanted to be performed upon, or for any usury, whereupon or whereby there shall be reserved or taken above the rate of ten pounds in the hundred, as aforesaid, shall be utterly voyd ; and that all and every person and persons whatsoever, which shall after the time aforesaid, upon any contract to be made, take, accept and receive, by way or means of any corrupt bargain, loane, exchange, chevisance, shift or interest of any wares, merchandizes, or other things whatsoever, by any deceitfull way or means, or by any covin, engine, or deceitfull conveyance, for the forbearing or giving day of payment for one whole yeare, of and for their money, or other thing, above the summe of ten pounds for the forbearing of one hundred pounds for a yeare, and so after that rate for a lesse or greater summe, or for a longer or shorter time, shall forfeit and lose for every such offence the treble value of the moneys, wares, merchandize, and other things so lent, bargained, sold, exchanged or shifted.
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Scriviners, &c. taking above the late of 56. for the said loan, or above 12d. for making or renewing the bond or bill, forfeit 20l. and imprisonment half a year.
Forfeiture.
One moiety to the King. The other to person suing.
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II. And be it further enacted by the authority aforesaid, That all and every scriviner and scriviners, broker and brokers, sollicitor and solicitors, driver and drivers of bargaines for contracts, who shall after the said first day of May next ensuing take or receive directly or indirectly, any summe or summes of money, or other reward, or thing, for brokage, soliciting, driving, or procuring the loane, or forbearing of any summe or summes of money over and above the rate or value of five shillings, for the loane or forbearing of an hundred pounds for a yeare, and so rateably, or above twelve pence for making or renewing of the bond or bill for the loane or forbearing thereof, or for any counter-bond or bill concerning the same, shall forfeit for every such offence, twenty pounds, and have imprisonment for half a yeare; the one moytie of all which forfeitures to be to our soveraigne lord the King’s Majesty, his heires and successors, and the other moyetie to him or them that shall sue for the same, in the same county where the severall offences are committed, and not else-where, by action of debt, bill, plaint, or information, in which no essoine, wager of law, or protection to be allowed.
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St. 3. H.7. Eng. and all other statutes of usury in force before, repealed.
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IV. Be it further enacted by the authority aforesaid, That one statute made in a Parliament holden at Westminster in the third yeare of the raigne of the late King Henry the seventh of famous memory, and all other statutes concerning usury, of force in this kingdome before the making of this act, are, and by vertue of this act shall be from henceforth repealed, avoyded, and of none effect.
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