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TIFFANY v. BOATMAN'S INSTITUTION

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85 U.S. 375 (1874)

18 Wall. 375

21 L.Ed. 868

TIFFANY, v. BOATMAN'S INSTITUTION.

Supreme Court of United States.

January 26, 1874.

Attorney(s) appearing for the Case

Messrs. E.R. Hoar and S. Knox, for the assignee in bankruptcy, appellant; Mr. T.T. Gantt, contra.

Mr. Justice DAVIS delivered the opinion of the court.

The general statute of Missouri concerning usury allows an individual to receive ten per cent. per annum interest for the loan of money; but, if more be taken and suit is brought to enforce the contract, and the plea of usury be interposed, the whole interest is forfeited to the proper county for the use of schools. The debtor is not released from his obligation to pay, but the interest is diverted from the parties...

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