Examine the circumstances that led to the passing of ‘Limitation Laws’ by the British in 1859.
The Ryots came to see the moneylenders as devious and deceitful. They complained of money-lenders manipulating laws and forgoing accounts. Most of the times, the money-lenders had charged over? 2000 as interest on a loan of 100 Ryots complained of the injustice of such exactions and the violation of custom. One general norm was that the interest charged could not be more than the principal. But this norm was generally violated. Consequently in 1859, the British passed a Limitation Law that stated that the loan bonds signed between moneylenders and ryots would have validity for only three years.
