Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-01-04

raciDg debt on "settling day." at latter
salls-S1, 80 Of our money. For the sac
commodation" for three months he has CIV
en- his note for three thousand five hundred
dollars of our money, and paid at. And
this is by no means an Isolated instance Of
the kind.
By far The most mischievous Of all the
harpies who prey upon London society, the
fell ws who Systematically rob-that's the
plain out-spOken word for 1.-THE honest,
hardworkiDg poor Of their earnings, are
your directors of "Monetary Advance
Banks"
The bank is a demonstrating office, in
a leading suburban thorough1are, with
plenty OF glass frontage, mahogany and
red leather binding, about ii a couple of
well-spoken clerks, an old man for mana
ger, and couple of directors. These last
are generally publicans living in the neigh
blrhOOd. 1he advertise lneuts, drawn up
by the manager, are distributed through
the workingmen's newspapers, Lloyd's,
Reynolds, the Weekly Dispatch, Clerken-
well Nel0s, and a provincial paper or two.
a man out Of employment finding him
self pressed for pound or two, with sick
wife, say, and half dozen children de-
pendent on him, makes application to the
Monetary Advance bank. He gets form
Of application, price s CTS, which be fills
up. In nine cases cut of ten, the security
required is bill Of sale on the
poor furniture he OWES. All being found
satisfactory to he directors, tYO pounds,
let's say, are advanced, Tepsyable IN eight
weekly instalments. Before the advance
is made, deduction of two shillings is
made for enquiry fee," a like amount,
probably, for drawing the "oill of sale,''
and Cd. for an account book to note the re-
payments in. Sometimes the first weeks
repayment is deducted Iii advance. The
man gets then for his prOmissory note Of
f2.lO sum certainly not exceeding &I.-
10. q. This has to be repIid in eight
weekly sums Of six shillings and three
pence each. If default be made one shil-
ling fine per week is imposed for each week
so in default. And il the borrower should pay
ali but the last instalment, and fail in this
one pay ment alone, the household goods
are seized under the "bill Of sale" and are
sold, Ofcourse at fearful sacrifice, TO sat-
isfy the zexorbitant cravings Of these
scounderly cormorants.
And the power that these money-lenders
hold lies in the fact that people do not like
it TO be known that they borrow money. A
man will go through any degradation, al
most, rather than be seen coming out of
the pswn-shop. And so it is with the peo-
pie that borrow of the low class Of London
mOney-!enders. They'll submit 10 any ex-
tortion in place Of allowing their cOnnec-
ton with such persons to be criticised by
neighbOrs. In addition, therefore, to the high
rate of interest paid, borrower often has TO
fee the money-lender's collector to prevent
his "dunnins" at the house. Ala1Yer Of
the lowest class is usually in league
with the spoiler, and he gets his pickings
too. And, in the end, a person who has
once put his name on paper, and taken il
into the market, as we have heard it term
ed, never leaves off until he sinks lower and
lower, and ends by becoming bankrupt, dis
graced, aud RI ned.