Milford chronicle., 1896-07-03
ENGLISH MONEY LENDERS.
widespread Fraud Alleged by a Man Who
Has Been Investignting Them.


Has Been Investigating Them
The American pawnbroker and the Eng
fish money lender are engaged in general
way in the same line of business but their
methods arc different and they appeal to
different classes of borrowers. Some of the
facts brought out by the recent investiga-
ton of the English money lenders and the
tricks that they employ to extOrt usurious
rates of interest have surprised even the
Englishmen themselves, accustomed as
they are to look upon the money lender as
a national institution whose usefulness is
unquestioned.
Thomas FarrOw, secretary of the Agri-
cultural Banks association, is the man who
started the last campaign against the mon
ey lenders, and it is chiefly due to his own
Investigations that the revelations have
been made Through his work one of the
most notorious usurers has just been sent
to prison and n dozen others have fled the
country or given up business. Mr.. FarrOw
has circulated broadcast plain statements
of facts about the great money lending con-
Germs, giving their names and details OF
their victims. One penny book Of his, SIN
the Money Lenders Clutches has sold to
the extent of 100 900 copies, though 1t left
the press only five months ago.
1t was through the formation Of the Ag-
ricultural Banks association that Mr.. Far
rows attention was drawn to the money
lenders. From information which was
placed before his first committee meeting
he was impressed by the fact that in every
other country the land had been Overrun
with extortioners before such banks were
started He wondered whether the same
thing was true in England, and he soon
learned enough to make him want to carry
his investigations further Mr.. Farrow in
serted advertisements in more than 500
papers and distributed 20, 900 leaflets ask
ing for information. He also visited hun
dreds of borrowers whose names and ad-
dresses were secured from the bills of sale
registry and other sources AS a result of
his Inquiries he said last week to an Eng
lish writer that the number of people in
the money lenders clutches was immense,
especially among farmers, clergymen and
working people
Country clergymen, he said, ''conse-
quent upon agricultural depression, are
driven to try to get temporary aid, ard
once they are in the tolls there is too often
little escape for them Personally / know
OF many clergymen thus bousd. The
usurers like to have dealings with farmers, |
Tor the farmer Is usually an honest man, 4
and as he is tied to one place by his calling |
he cannot slip away like townsman. The
bills Of sale registered in England alone
average 0,4O0 a year, and their number
gives only faint idea of the extent Of the |
evil myself in the early stage of my
inquiries put a test advertisement in four /
London papers for one day only, Offering /
money at 10 per cent, and obtained 2S3 re-
plies"
''What are your chief complaints against
the money lendersy"
"Their advertisements offering money
are crammcd with falsehoods Many OF
them never lend money at all, but simply
rob inquircrs Of preliminary fees. Their
rate Of interest when money is
advanced is Per cent month, not Per
cent year, and generally they deceive the
borrowers in every imaginable way. They
bring about the ruin CT hundreds and
thousands Of people every year, and vet the
law affords them every assistance and gives
borrowers no protection. "
Mr.. Farrow explained the way IN which
the business Is done When victim re.