The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1895-02-23
WASHINGTON SHYLOCKS.
Money Lenders at the Capital
Who Bleed the Clerks.
1mprovident aud Extravagant Govern
ment Employees Who Borrow at
Exorhitant Rates of In
tere3t.

The United States government, as a
rule, pays higher salaries to it's 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-
delphia Press. This is true at least "A
Washington. where the majority Of the
employees are protected in their posi-
stions 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. ltwould
be safe to place the average salary re-
ceived at one thousand dollars per an
mum. 1t can be stated as a 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 q 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 superiors in office,
when the alternative is given Of paying
off their indebtedness in monthly in
stall1nents to be kept out Of their
salaries or Of leaving the government
service.
The faculty of the government clerk
to get in dc.ot has created class of Shy
locks in the various departments III
Washington the like Of which would be
hard to find in any other city. They are
appropriately called ''ten per c"nters."
They feed upon the unfortuna- 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 honora bic person would adopt. 10
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 it shall be paid back at
the end of the month at the exorbitant
rate Of ten per cent. interest for the
thirty days, If not met at the end OF
the time stipulated the loan, Or part of
it, is .ontinned 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 Item 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, as
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 aspe~
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, lady in one of the de-
partments feels that it will add very
materially to her standing in society if
she were to give a 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 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-clerl1s. 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
we'll 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 as dimcnlt to get out OF
debt as formerly. The success that
has attended this system of money
lending has at last 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-tip,e
Shylocks, and offers to loan money at
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.