The Athena press. [volume] (Athena, Umatilla County, Or.) 18??-1942, 1895-02-15
WASHINGTON SHYLOCKS.
Money. Lenders at the Capital
Who Bleed the Clerks.
Improvident and Extravagant Govern
mont Employees Who Borrow at
Exorbitant Rates OF In
terest.

The United States government, as
rule, pays higher salaries to its en-
ployes than private firms pay for the
same class of work. Despite this fact
there is probably no class of clerks so
continually hard up" as these same
government employees, says the Phila-
delpllia Press This is true at least in
Washington, where the majority of the
employees are protected in their posi-
tions by the civil service laws, and
where it would be supposed there would
be more opportunity for saving than in
positions less sure of tenure.
The average department clerk re-
ceives what would be considered very
snug salary in most any other city, es-
pecially in cities where metropolitan
prices for living do not prevail. Itwould
be safe to place the average salary re-
ceived at one thousand dollars per an
mum. 1t can be stated as rule almost
that these clerks are in debt from one
years end to the other. They are in
debt to the butcher, the baker and the
grocery man, and their frequent
changes of residence are due to habit
they have of neglecting to pay rent for
their houses. This sort of thing is kept
up until their debts are brought to the
attention OF their supcriors in office,
when the alternative is given of paying
off their indebtedness in monthly in
stallments to be kept out Of their
salaries or of leaving the government
service.
The faculty of the government clerk
to get in debt has created class of Shy.
locks in the various departments in
Washington the like of which would be
hard to find in any other city. Theyare
appropriately called ''ten per centers."
They feed upon the unfortunate clerk
who is living beyond his. or her salary
like vultures upon the stricken deer.
They have their spies out in every
direction, and learn of the financial con-
dition Of their intended victims in ways
no honorable person would adopt. To
clerk in distress for ready money they
appear and offer the cash TO meet press
ing wants. The bait is too tempting,
and the victim borrows under the
agreement that 1t shall be paid back at
the end of the month at the exorbitant
rate of ten per cent. interest for the
thirty days. II not met at the end Of
TIE time stipulated the loan, or part OF
it, is continued at the same rate for
another month, and often times within
twelvemonth the poor clerk has paid
more than the original sum in interest
alone.
Enticing circulars are sent to the
clerks by these "ten per centers.' Sums
ranging from ten dollars to five hun
dred dollars are offered as loans under
the ''strictest secrecy" The security
asked is merely nominal. Furniture is
usually the security suggested in the
circulars. These sharks well know
that the clerks nominal note Is sufficient
to guarantee q payment of the loan, rs
the presentation of it to the chief of
office usually results in arrangements
being made for the return of the money
out OF the monthly salary Of the victim.
The local newspapers are full of the
advertisements of these "ten per cent
ers." Their alluring offers are espe-
cially intended for that class of en-
ployes who desire to cut a figure in
Washington society, but who need ready
cash at times to indulge their ambition.
For instance, alady in one of the de-
partments feels that 1t win add very
materially to her standing in society If
she were to give pink tea" or some
function of that sort. She must do so
at a certain period of the year-during
the social season. She has exhausted
her credit at the grocery and the con-
fectionery, so little ready money in
hand is an absolute necessity for the
accomplishment of her plans. The en-
ticing circular of the ''ten per center"
Is brought to her notice, and she can
not resist the temptation. The money
is borrowed, the social function passes
off, and the poor victim finds herself in
the clutches of u money shark, who
will keep her stinted for the necessities
of life until his ten per cent. month
interest and principal is paid.
This Shylock business was begun
years ago, and to the discredit of the
government was largely carried on by
employees of the departments who were
in position to know the wants and
necessities of their fellow-clerlss. So
oppressive did the system become that
rules were adopted forbidding employees
of the departments to loan money to
their fellow-employes. These rules
have been observed SO strictly that the
'ten per cent business has been pretty
well driven from the departments, 1t
is now carried on, as has been sug-
gested above, by means of circulars
and advertisements in the daily news
papers, and the average government
clerk finds it IS difficult to get out of
debt as formerly. The success that
has attended this system of money
lending has atlast aroused competition.
The chronic desire of government
clerks to borrow money has stimulated,
the organization of a company that now
proposes TO cut rates with the old-time
Shylocks, and offers to loan money Mt
three per cent, per month. This means
yearly rate of thirty-six per cent,
but that is quite reduction from one
hundred and twenty, which is now
charged.