, 1866-12-24

Answer to Queries from Washington
The Interest Charged On L02nS-
Tfndication OF 3 Much
Abused Class.

Our Yeadc7s a.e doubtless aw1re thHt soma hne
since 4 Bureau Of Ststftses W1s established 81
Warrington. In pursuance OF the dunes OF nA
ONCE lhe Director has addressed eineolfrs 70 II
a,,idr,ls II dlereu, psrts Of thu United 6tatea,
sskin9 for information tho several top1es' me
calculation Of which h1s been committed to his
1nrxx S1a e. one as 10 the Tate Of interest Of an
nnA pei censase> paid Tor fhe nse Of %oney T.
r. sf:!. on patsonsl elects tp'*a'f'le's
III question is saeeesttvs; Ten per pss cso. Sot
cent Ger nunum, IL ali shat he pawnb.ottra exact
rom thtir pa.rons for the use of thelr moneJ In
email large quantities HoT ~ ,aess sg,,ns. ea ~ man a.
deqea d Il r EpeIhaps lhey wo1id nnd i imposs,ble
without De eza PREM ha teazea en- q sap.o an oa a.
| Then srainst return to the owner. By efal-
ful use q their r1ghta in re premises. tasy nay
s1%s.'mss seaes named o margin % Of psost, md Is
ini make th.s = part, OF theiE business. By judi
sna aoss s. sA m.de e ysd -
Of fftecu 10 twenty Thousand. though tha average
will perhaps be shout eight In the aesence Of
pawnbsoker fs forced to be content with this Hs.
cfablc income, and hear calmly the anatheuas OF
the ,Ilpooses Wrclehcs who after ava,ttug theG,-
charge him with b tnC an cxtorttoner Win havng
no hea1t, &c1 In language more fozcaole than
polite
hToxtug fraternity two ycars nEo Learned that an
e1ort uas being made 10 induce the Legislature Of
this State 70 allow one Of their uunbsF to accept
less rate nt interest They were going to ruin fa9t
enough already, and this measure, II passed,
would reduce them from modesate poverty 70 ab-
! solute peuufy- It must not be. They fonsht The
measure .othe best of Their ability but The p5oas
Of thets business being 80 small they conld mot
afford II spend money enough to teht the measure
| successfully. The back OF The monopoly. and the
| bill passed, and from that date Tho "Chfcago
Losn and Deposit Company" WAS authorized
| 10 charge twe bensse} one per cent month q,
propesty pae II Nit5 isss.sonabe 20 sddlon foF nsur
| ance, cost Of rckcts, dc. The deposiaore would
base been IN ecetacies bad they been II tae hs1lt
ihe news travelled, and the cnstoaa q the oshes
establishments was so1u IN procesaof transfer 70
The o1 IN anssS1 ~ e. sns ano e toe
and tbe Police Cou51. with exact reEolt5aty, nuf
;ee church h neseE Only oee &c &c sent to or the dollar
twse. We saw ose Of The untortuuatcs who
borro. cd little money soon after the grand open
e easi ~ a.as s &C. w e.
| not 1membe1 the precise wording but It Was
tautamouE, to what followe:
Loaned On gold wateh.... .......-.... -..$a, o.
To interest at one per cent. OF
| Insurance and storage per cent-.... ..-.-.- 81
Cost 4 lcket Y per cent. .0e
Total 1chHrges-........-...... ....... LIZ
Received by deposItor ..........-........ ..Sa0.
| equal to about twelve and one-nith per cent on
| The money actually used for one month or less.
| Tbs Thing WINS after al about a. broad as It saa
long: ii anything, iiste more Slowly Il vas
tnd the huatne4s settled hack into its old chanuel
The oiheF IaNnbrokcrs were relieved from the
IT, 51 :, s tssy Ss,
I'D 10 oeiieve taa! tdsis honest p1oau would as
1n1et1ered with. They still contfnne to make thel4
ean a1d &. Vii o e
strikes lhcir eAst bnt dlseaised faugh-a petu.
liar way I'm. class havc Of making merry orer the
may be ii frst become absolntely pleasant IRON
practice in their endusunce+
That the pAwnbrokets do not make too much
eonsta1t ] W Sn@,,hasneas " , te loan ,afse suns Yoa
take IN a gold watch which has cost ron hpn-
dred and afty dollars. and ask for loan Of at1y
the Idcs is preposterous, and the act impossible.
He \ 1cht make ire dollars on that watch in any
rumber Of daya under one month, at ten per cent
dolIsfs on tTenis. % Or fsthss On sishtscn. ier te
interest is always deducted at the &tme Of boE-
rowing. His unselftlA soul revolts Rt the
tlet, and when youvmildly remonstrate that /.
il too little. he oenevolenty consoles you With the
,1hss the taese ~, VII e 60 rn1eh les t.
caee failure to redeem could set 1t tor It least
tw1ce wns: you aEFes4 TO psy. eat "pests1h u.
II u 1os e. ~ 70
rour properly, Thi. wonld pain him beyond e.,
preston, and be ehsTitabl1 deaefnineA nos e
place you in such dilemma; th9qeh Il Konld pn3
doubt The pur,ty aud unse1hsh character OF iii
motives is deeply to be dep1ored, md ehowB hos
he good and noble may be znaltgned equally with
1he les,es Of inqqtE, ahoEe referred 70, ,a.ke!
ono important oulsafo1: II does pot ak tho ex