Usury Act 1660 Usury Act 1660 The Usury Act 1660 is an Act of the Parliament of England (12 Car. II. c. 13) with the long title "An Act for restraining the taking of Excessive Usury". The purpose of the Act was to reduce the interest rate from 8% to 6%. The legislation had been enacted in 1651 under the Commonwealth, but this Act was passed to confer legality on the measure following the Restoration of Charles II after the English Civil War. It was amended by the Usury Act 1840 (3&4 Vict, c.83), the Usury Act 1841 (4&5 Vict, c.54), the Usury
Restoration (1660) II's dominions. It had, according to the eighteenth-century historian Robert Beverley, Jr., been "the last of all the King's Dominions that submitted to the Usurpation". Virginia had provided sanctuary for Cavaliers fleeing the English republic. Sir William Berkeley, who had previously been governor up until 1652, was elected governor in 1660 by the House of Burgesses and he promptly declared for the King. The Anglican Church was restored as the established church. In 1663 the Province of Carolina was formed as a reward given to some supporters of the Restoration. The province was named after the King's father, Charles I.