Oregon Fixed Legal Rate of Interest, Measure 8 (1920)

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The Oregon Fixed Legal Rate of Interest Amendment, also known as Measure 8, was on the November 2, 1920 ballot in Oregon as an initiated constitutional amendment, where it was defeated. The measure would have provided for a fixed legal rate of interest at four percent on all moneys and, on contract, agreeing parties may have a five percent rate of interest.[1]

Election results

Oregon Measure 8 (1920)
ResultVotesPercentage
Defeatedd No158,67384.56%
Yes 28,976 15.44%

Election results via: Oregon Blue Book

Text of measure

The language appeared on the ballot as:[1]

Constitutional Amendment - Proposed by Initiative Petition

Initiated by J. F. Albright, Oregon City, Oregon. - CONSTITUTIONAL AMENDMENT FIXING LEGAL RATE OF INTEREST IN OREGON - Purpose: Amending article IX of the constitution of Oregon by adding thereto section 9, which provides that: The legal rate of interest in Oregon shall be four per cent per annum, on all moneys after the same shall become due, but on contract the rate of five per cent per annum and no more, may he charged by express agreement of the parties, which rate shall be inclusive of all brokerage and commissions. No laws of this state relating to interest or usury are repealed or abrogated by this section except insofar as the legal rate of interest is modified hereby. --- Vote YES or NO.


314. Yes

315. No

[2]

Path to the ballot

Measure 8 was filed in the office of the Secretary of State on June 30, 1920 by J. F. Albright of Oregon City.[1]

See also

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Suggest a link

External links

References

  1. 1.0 1.1 1.2 Oregon State Library, "State of Oregon Official Voters' Pamphlet," accessed November 12, 2013
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.