The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-05-13
LOANS WITHOUT INTEREST.
A Peculiar Jewish Institation Carried O,
in New York.

A Peculiar Jewish Institation Carried OF
in New York.
A loan Office where the only security
required is honor is surely novei
enough to notice. Such an institution
can be found here. For years it has
carried on business on the theory thai
vast majorities of men are honest in
money matters. A total stranger, by
merely leaving his name and address, car
borrow from SIS to S25 in cash. Nc
pledge is taken, no interest is charged
AS proof of the fact that people are hon.
est, it may be stated that this office has
put 100000 annually into circulation III
small loans during the last four years
The books show that but $3.50 has been
lost, because people failed to return
what they had borrowed. In many
cases people try to return more than
they have received, but the rules of the
office forbid their making this sacrifice.
OF course, this remarkable loan Office il
not managed by an individual or firm.
Its leaders are optimistic Hebrews who
believe that the poor are honest. Its
membership embraces 400 residents Of
the lower East Side. About $50 art
proprietors of small East Side business
houses and are in easy circumstances
The other $50 members are poor work
ing people-push cartmen, tailors
street peddlers, etc. Their wages viii
not average $40 a week. The $50 bust
ness men paid in $40 as dues the first
year and the $50 working people gavs
So each. This made fund of about
SO 900 with which to start the loan
office. The same amount has been paid
in every year, and the association has
received many donations. To-day tho
association has about SIS, 900 loans oui
and about So, 900 in cash on hand. The
society puts out its money on an aver.
age of about four times year. Count
ing it every time it is put in circulation
about $4,000 is loaned annually.
This helpful institution which double
discounts the church pawnshop estab-
lished here two years ago, bears a He
brsic name which in English means
that money is loaned according to the
law laid down in the Bible, namely with
out security, without interest, without
knowledge whether the borrower il
honest until after trial has been given,
and without allowing any one man u
know that a brother needs help. OF the
money loaned not a cent has ever gone
to member, the deserving poor alone
being aided. All an applicant has to dc
Is to leave his or her name and address.
No Endorsement or certificate of honesty
Is needed. No religious distinctions arr
made, all applicants being treated alike,
For four years this remarkable loan
office has been quietly doing good. Ii
Coc7 not seek notoriety, and few outside
the territory which profits by ;ts help
fulness know that such a worthy institu.
ton exists. When a borrower enters
the Office and begins TO tell tale of woe.
the secretary protests. If he sees that
the person is needy, money is handed
out and the borrower is told that il is
not necessary TO relate his or her
troubles II n person has borrowed
IS and repaid il, $40 will be loaned: Il
SO, then SIS will be given, and so on III
10 SOS. The ward in which this loan
offiss is located has 100000 people
packed into a radius of one mile, q
greater population to the area than can
be found in any other city in the coun-
try. Y. Cor. Pittsburgh Dispatch.