Reconsideration and Usury Debate In State Senate
The February 15, 1875, Georgia General Assembly session adjourned toward evening after debates on reconsidering a bill to amend section 233 of the code and on regulating usury. Senators debated limits, with McKinley supporting a seven percent baseline via self-regulation and Calhoun proposing broader reforms, while Shellnut opposed class legislation and supporters argued the need for cheaper money.
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Georgia usury law debate stalls, amendments offered in House
Fragmentary transcript shows Georgia lawmakers debating a usury bill with amendments from Mr Walsh and Mr Carlton. They discuss fraud prevention, penalties, and how forfeitures fund education, while noting historical value declines and bank concerns. The bill's passage signals limits on interest rates and regulatory shifts across the state.
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