to household furniture today it's a different story families in most cases depend upon a paycheck for the necessities of life there is an ever present need for money when debts pile up because of sickness temporary unemployment pay cuts or in providence case may be needed for the emergencies your life their travel or to take advantage of opportunities in education or business where can a self respecting employed family up to date time grade not to nature as time the eighteen thirty three it must turn somewhere what is the answer how much a balloon do you require mr brown well i figure about three hundred dollars are you going to possibly real you know i have no bank account is only a matter of a few moments to make him a loan all costs will increase if we were to divide that alone between fifty or one hundred people it's required a great many more offices and it looks to handle the details but i don't quite understand you well it's not only the time required to make a loan that we have a plan but also the cost of collection you no doubt would like to repay you alone in small monthly rate and pay expenses so you see mr wrong we can solve your problem evidently this is not the answer then what is the answer i don't know what we'll find some way organized to finance commerce and industry maximum interest laws of six to ten percent were provided then new economic conditions of the machine age produced a crying need for family loans and legislators ignoring the retail nature of the business insisted upon a maximum rate so low that small loans could not be made possibly this left about eighty percent of our families without long facilities to meet emergencies and refinance debts in one hundred sixteen after a survey the russell sage foundation recommended that agencies be established under strict state supervision to land without collateral or and dossers that a charge of not more than three and one half percent a month simple interest they collected like rent on unpaid balances without bind fees or other charges that loans be limited to three hundred dollars or less twenty five state governments have adopted legislation based on the russell sage foundation uniform small loan law and serv seventy seven percent of the country's urban population these laws license and supervise firms which loan money to families without requiring outside and daughters are bankable security these laws have been advocated by the leading civic and social service organizations and have been endorsed and signed by such outstanding governors as franklin roosevelt one governor of new york frank louthan of illinois james cox of ohio and woodrow wilson and governor of new jersey the family finance business also has the endorsement of the banking commissioners in these twenty five states under their supervision there are over thirty five hundred state licensed offices one of the most important of these family finance companies is the household finance corporation operating in ninety five american cities household has one hundred forty eight offices in the cities during a recent twelve month period household made small loans to more than three hundred thousand families in various parts of the country practically every profession and trade listed in the united states census is served why do people borrow money household loans are made primarily for the purpose of helping families get out of debt eighty two percent  family that's already contracted nine and one ten percent of the families borrowed for business needs two and a tense percent for travel and vacation two and sixpence percent for education and two and one tenth percent for moving and miscellaneous expenses of course it costs more to retail small sums of money than to lend large amounts the cost of investigating making collecting and bookkeeping are approximately the same for loans of different sizes but these fixed costs occur only one time one household borrows a million dollars from the bank they are repeated more than five thousand times one household lens the million to over five thousand people there are also sixty thousand monthly collections and that many bookkeeping operations during a year you will always find household ready to give its customers the advantage of the lowest possible charges consistent with sound business practice if in doubt ask any bank about habits and had listed their household equipment during a visit to their home they were called into the household office we now find them after a detailed but pleasant interview with the household manager there is your money and this is your payment book thank you and you may depend on our making a monthly payment sunday and you uncover that your receipts you are probably you taken care of your other obligations and you know the more rapidly you pay off the loan the less it will cost that's fair enough or get the moment here's our money management booklet it will help you get out of debt keep your budget balanced and assist you to live within your income will gladly help you with any of your financial problems bring them here to me all right to  another family is on solid ground they are able to walk out of the house hold office with the heads up and shoulders back ready to make their creditors on an even footing household is a public service yet human organization which plan permits adjustment to the changing financial sanctions stances and the customs if emergencies arise extensions may be granted if conditions improve the borrower may increases monthly payment all pay the entire loan at once thus saving charges this is the answer to