The British Press; or, Morning Literary Advertiser.
London, England, 1825-05-02 00:00:00

-THE BRITISH PRESS.

THE EQUITABLE LOAN ,BILL.

PROM A conneepoerreeet.)
The Equitable Loan Bank Bel has, within the last week, been
more than once the subject of remark in the House of Peers. Pt.
titions have b.en presented in its favour, not merely from the arti-
sans and inechimies, and a large portion of the ishourioc poor of
the metropolis and its vicinity. but irons many reemetable bodies of
manufacturers sad tearless in different towns in the kingdom. Pe.
onions in %tipper/bra the Bill have, we are informed, been agreed
to by the comeretions of several manutacturing towns, and also by
the Rectors, Cbmchwanlens, and Overseers of the poor of mans
parishes in the manufacturing districts.
Theie are parties who must know, as having, on many occasions,
witnessed the grinding extortion practised by the Pawnbroker.
whose, dealings are for the greater part with the necessitous poor.
a 0 by the Commission Agent. the Salesman, and the Jobber, who
Mejeopoo the occasional embarrassments of the shopkeeper and
the Mantifuturer. They have, therefore, very naturally besought '
the Legielwure in favour of a measure, which, if it had r.o other
good curet rand it will have many others), would establish such a
competition in tee market as must tend materially to the benefit of
all those whine necessities oblige them to borrow. Indeed an effect
of that kind has been already.partially produced, by the knowledge
that tioe Equitable Lnan Company was about to come into operation.
' It is true that some petitions have been presented agamst the
—but from whom ? Front the rnartufacturerers. traders. or
artisans of any of our chief manufacturing towns ? No. when a
set of men, from certain jobbing salesmen •) from some five or six
pawnbroker. and Jobbing Commission Agents, who are
the
afraid that if this Company commences businert, it will have the
effect of putting an end to the estortionate practices from which
they at present derive such enormous profits.
Such are the opponents of the Bill, and to this interested class
is to be traced all the calumnies so industriously circulated against
the Equitable Lean Company tektite the lest year. The Company
lieee, at e::e time, been described as a set of canting hypocrites,
were tender the mask of serving theemor, are only anxious to for.
ward their own views; at another, they are represented as a body
of greedy monopolists, who wish to absorb the profits of the Indus.
tripes trader, without any consideration of the effects that such
monopoly must have upon hundreds of families. Again, the pub-
lic are told that the subscribers to the Company must be required,
if they take an interest less than tit at demanded by the Pawn-
brokers, which, it is said, is barely sufficient to enable them to
live; while the next hear another opponent charges them with a
I disposition to extort, because the interest they purpose to charge on
son:e kinds of loans appnetches to within-five per cent. of it hat the
Pewebrokens are allowed 'l,, in ft to demand, though still twelve
per colt. Tres than what they do in general exact.
Naw to all those inronsietent accusations, there is this simple
answer—an answer, borne out by cane thing which the Company
have published /Mee they first applied for their Bill in Parliament.
The Company purpose to advance large sums at the legal interest
of five per cent., charging in addition for insurance against Ere, ÷
ware:souse-I-nom, and commission, not more than the lowest tuft
recognised by the custom of merchants in London, and to this they
are u.cst willing to be bound down by the severest penalties in the
clauses of the Bill, if the Legislature shall so think proper. In the
advances of small sums on pledges, they purpose to lend at Aimee,
rate than what is new allowed to Pawnbrokers. and by avoiding the
extra charges which Pawnbrokers make for •• barking" duplicates,
Ate. rite. they are within the mark when they say, that the saving
to the public on such loans will be at least from 15 to 20 per cert.
In proposing these as the advantages which the Public is certain
to reap teeth their Establishment, the Equitable Loan Company
seek for ro exclusive privilege t—they wish to establish no mono-
poly. That which they do to-day, any other Body of Individuals
may do to-morrow. The ,Commission Agents—the Jobbers and
Salesmen—the Pawnbrokerle and Pawnbrokers Auctioneers who
may oppose them, are men poressed of large Capitals; and if
they t.nagine that the Company is likely to realise such immense
profits aa they sotnctimes seem Si hint. they can easily form them.
selves into an Association fur similar purposes. To this the Com-
pany can have no objection. They wish for no more than to be
allowed a fair scope for competitior, which has ever been admitted
to be of the utmost value in a trailing community. If in the com-
petition they propose they should he successful. whatever may be
the amount of their profits, the Public will still be benefited :
if they should be unsuccessful, the Public cannot in any way be
injured.
• Lando°, April 30th, te2s. J. T.
• It is a curious fart, and within the personal knowledge of the
writer of this article (who was present in the Committee of the
House of Commons when the circumstance occurred), that a Pawn-
broker's Auctioneer, Mr. 111achin, of Kleg-street, Covent-garden,
who was distinguished for his opposition to the Ballast yms, and
who is not less active against it in the present Session, did actually
propose a dative In the Committee to this cffect—" That Messrs.
Machin and Debenham should be appointed Auctioneers to the
Equitable Loan Company, in ease the Bill passed !! I" The
Committee rejected the clause with the contempt that it merited.
Had they adopted it, Mr. Maehin would hare been found u active
in support of the Bill as he is now zealous against it.
t if the Equitable Loan Company had no other claim to public
support, than that which it derives from the guarantee given to
pledgers against all accidents by fire, it would be entitled to a dc.
video{ preference abut: any plan for lending on pledge that has yet
I appeared. The Pawnbroker will not pay for any losses by tire• though
he himeell is in general seared to the full amounts of his capital.
" Hundreds of poor families have been completely ruined by the
lobs of their property in Pawnbrokers' fires. Surely this is an evil
minim for some remedy. - •

FROM SATURDAY' NIGHTS GAZETTE.
Carltom Ilmse Aril/7,1925.
The Kthg was this day pleased to confer the honour of Knight-
hood on James Monk, Esq. late Chief Justice of his Majesty's
Court of Kin,.'s Bench in the district of Montreal, in the province
of Lower Canada, and a Member of his Majesty's Executive and
Legisla.ive Councils of the said province.
The King was this day pleased to confer the honour of Knight-
hood also on Stephen Diselee, Esq. one of the Justices of his Ma-
jesty's Court of Common Pleas.

BANKRUPTS.

Robert Belford, Orchard-street, St. Luke, Old-street, and of
Brighthelnistone, Sussex, and Prospect-place, St. George the
Martyr. Surrey, jeweller, to surrender. May 7, at eleven, 14, and
June 11, at ten, at the Bankrupts' Court. Solicitors, Messrs.
Colinas and Hyde, Winchester-street, Old Broad-street.
-John Gouh, Huntley, Gloucestershire, linen-draper, May 0, at
six, 7, and June 11, at eleven. at the Ram-Inn, Gloucester. Soli-
citors, Messrs. Williams and White, Lincoln's-Inn, London; and
Messrs. Bloxsome, Wells, and Illoxsome, Dursley.
George Hart, Church-street, Deptford, Kent, and William Pit-
tock, Dartford; Kent, brewers, Mny 7, 14. at eleven, and June 11,
at twelve, ut the Bankrupts' Court. Solicitor, Mr. J. B. Mills,
Hatton-gardett.
John Stanton, Worcester, coal-merchant, and of Birmingham,
wine-merchant, 31re 13, at tire. 14, and June 11, at eleven, at the'
Littleton** Arms Inn, Penkridge, Stafford. Solicitors, Mr. T.
Wheeler, Lincoln's Inn-fiords ; and Mr. Smith, Walsall, Stafford.
William Anderson, Wotton Underedge, Gloucester, clothier,
May 13, 14, and June 11, at one, at the Commercial Rooms,
Com-street, Bristol. Solicitors, Messrs. Bourdillon and Hewitt,
Btead-strect, Cheepside; and Messrs. Bevan and Britten, Small-
street, Bristol.
George Meads. Bath. horse-dealer. May 9, 10, and June 11, at
twelve, ut the White Lion Inn, Bath. Solicitors, Mr. Makinson,
Middle Temple; and Mr. W. H. Mackey, l'aragoa.boildings,
Bath.
Robert Crane, Liverpool, tailor, May 13, 19, and June 11, et
eleven, at the office of Mr. 3lawdsley. solicitor, Doran's-lane, '
Lord-street, Liverpool; and Messrs. Rubinson and Hine, Charter
House-square.
Samuel Henson, Brownlow.street. Holborn, tailor, May 7, 14,
and June 11, at twelve, at the Bxnlaupts' Court. Solicitors,
Megan. Harvey and Wilson, Lincoln's Inn-fields.
Thomas Morris. Regent-street, Blackwell. carpenter, May 3,
17, at twelve, and June 11, at one, at the Bankrupts' Court. Soli-
citor, Mr. Walls, London-street, Ratcliffe.
John Timothy Quinlan and Joseph Thomas Stokes. Grosvenor-
market, Hanover-square, dyers, May 7.21, and June 11, at twelve,
cr. the limkrepts' Court. Solicitors, Messrs. Allen, Gjlby, and
Allen, Carlisle-street, Soho-equare.
Charles Sheppard, China-walk, Lambeth, Surrey, leather-dresser,
May 7. at ta dye. 14, at eleven. and June 11. at ten, at the Bank-
rupts' Coutt. Solicitors, Messrs. Walker, Rankin, and Richards,
Basingliall-street.
Themes Lloyd Grove, Wistanatow, Salop, timber-merchant,
31st' 11, 12, and June 11, at ten, at the Angel Inn, I.udlow.
Solicitors. Mr. James Davies, Ludlow; and Mr. Henry Lloyd,
Furnival's-Inn, London.
Joel George Young, Austin Friars. merchant, May 7, 28, and
June 11, at eleven, at the Bankrupts' Court. Solicitors, Messrs.
Van Sandau and Tindale, Dowsate.bill.
Wm. Charlton Wright, Paternoster-row, bookseller, May 7, 14,
and June 11, at eleven, at the Bankrupts Court. Solicitors,
Messrs. Jay and Byles, Gray's Inn-place, Gray's Inn.
Thomas Edward Harter, Carshalton, Surrey, corn and coal.mer-
chant, May 10, at ten, 14, and June 11, at one. at the Bankrupts'
Court. Solicitor; Mr. Young, Charlotte-cow. Mansion-house.
James Shannon, Liverpool. merchant. May 10. 17, and June li,
at eleven, at the office of Messrs. Keen, StafFord. Solicitors,
Messrs. %%1;1bn:a and White, Linzoin's•lun ; and Messrs. Keen,
Stafford.
Samuel Coates, Halsted, Essex, plumber, May 9, at one. 10,
and June 11, at ten, at the Three Cups Inn. Colchester. Solid.
ton. Mr. Decintus Sewell, Halsted; Messrs. Hall, Thompson,
and Sewell, Salters Hall.
Abraham Moss, High-street, Sbadwell, slopseller. May 7, 10,
end June 11, at ten,- at the Bankrupts' Court. Solicitor, Mr.
Norton, White Cross-street.
John Phillips, New-street, Horslydown, cheesemonger, Play 7,
10, and June 11. at ten, at the Bankrupts' Court. Solicitor, Mr.
Bromley, Copthall.court, Throgmorton-street.
Yelek Les v l'andermoolen. Castle-street, lioun4.dltch, ware-
houseman, May 7, 14, at eleven, and June U, at twe'.ve, a the
Bankrupts' Court. Solicitor, Mr. Norton. IVltitecroes-street.
Gideon Dare. Liverpool. grocer, May 23, 24. anti June li, at
one, at the George Lin, Liverpool. Solicitors. Mr. Edward Ches.
ter, Staple-Inn. Holborn ; and Mr. Jolla Williams, Union-court, '
Caetle.street, Liverpool.
Richard Smith, Northampton, lace-dealer, May 7. 14, at eleven,
and Junc It, at twelve, at the Bankrupts' Coat. Solicitors,
Messrs. Fisher and Spencer, Walbrook-buildings.
Leeds, draper, May 18, 19, and June 11, at
note. rt the Star Inn. Manchester. Solicitors, Mr. John
Walker, Dutest.‘treref, :Manchester; and Messrs. Ellis, Suns,
11'.11,m•!ey, and Gorton, Oancery.lane.