The Portland daily press., 1899-01-12

tutions receive this money without COZ
ditions as to free tuition or management
have introduced the resolve not be
cause Of any ssctarisn feeling. but be-
cause l believe that the state should do
its work for education through general
rather than special laws. believe that
should the matter DO submitted to the
people 1t would be found that they think
as do"
So this ysar the fight against the aoade-
mics will be made on new ground. IL
will not be because they are described as
sectarisn institutions, but because rs
Judge McFadden and others believe. they
are private institutions outside the scope
Of what should be considered the public
school system. In this connection, IL Is
said, that the University OF Maine
boomers will not have their usual smooth
sailing this year The farmers. 1t ID said.
have bssn rapidly losing what little love
thsy had for 1t since the agricultural COL
lege became university. That at least
Is the way the CASE was stated to day by
farmer who is also n member Of the
House.
= AGAINST USURYsss
Representative Mercy OF Lewiston has
aimed blow at the harpies and
bloodsucksrs who swindle the poor by
lending them money as an extortionate
rate OF Interest. Mr.. Morsy's thrust at
q mean. but thriving, industry, comes
in the shape Of bin against usury. In
with the PRESS CORE
spondept concerning the measure. Mr..
Morey spoke In substance as follows:
1--WE have had complaint In our sec
ton Of the STATE" said MIR. Mercy
a against the shsrpers and harpies who
charge rs high as 100 or $50 per cent ON
the loans they make to poor people.
will tell you 81 case In point. A poor
man in my own city of Lewiston found
it necessary to raise 500. He was re.
spectacle and industrious man, but one
who was obliged to work for small
wages In his house, he had some good
furniture, including an upright piano.
When he found 1t necessary to raise this
money, he went to one Of these money
lenders. The money was lent TO him un.
der an agreement by which he was to pay
Is u month, or 40 per cent interest. For
eight months he paid faithfully, Then
he found that he could never hope to psy
the principal because all he could rake
and scrape was required to pay the in
terest. SO he came to me. looked into
the case and there told the circumstances
to the president of one of the Lewiston
banks He found that the security was
perfectly good and let the man have
the money at per cent.
Now" continued Mr.. Morey. that
is only one case, aud the rate. 4S per
cent . year. Ia low compared to some
which are sxacted. These lenders are
perfectly heartless They will take
baby's cradle to satisfy debt Other
states have laws to prevent this extor-
ton. In New York, lender who exacts
over @ per cent may forfeit both princi-
pal and interest. In Massachusetts, It 10
the law that not more than is per cent
per annum can be exacted on these small
loans An effort il now being made TO
reduce this Massachusetts, rate from IS
to 12 per cent. The bill which shall
Introduce today follows the lines OF the
statue, but fixes the rate at
i2 per cent. 1t applies to loans in sum
under $1,000. The lender is permitted to
charge fee OF % dollars in excess Of
the 10 per cent, this additional sum pe-
Ing allowed for the expense attending the
drawing up and execution of the mort
gage The borrower has the right to pay
his debt at any time, butlmust pay at
least six months interest whether the
loan has or has not run that length Of
time. The bill IL 50 drawn that IL does
ing the statutes governing the operations
Of banks and bankers and pawn brokers.
The pawn brokers are allowed by law to
charge as high rs 90 per cent on small
loans. but they are licensed and are
Amenable to the provisions Of q strict law.
The effect Of this bill with Its lower rate
Of interest might be to force some of
these money lenders to become licensed
pawn brokers"
FOR GREATER PORTLAND.
i ne Dlil lot tno annexation Oh DeerlpE
10 Portland was introduced In the House
soday by Judge Hopkins and referred to
The committee on towns. The provisions
IF the bill are the same as In the original
iraft printed In the PRESS of last We'd
,esday. Some changes have been made
N the phraseology for the purpose Of max
ng the meaning clearer, not Of altering
I. Ths.oom mittee on towns will give o
on the bill on January rs. Mr.
Wilson of Gorham presented today two
bearing 500 signatures,
against the annexation. The hearing in
. town fight generally brings to the legis-
aturs crowd and such hearings are
conducted In the Representatives, hall
II In the Senate chamber. 1t Is expected
hat the Deering hearing will be one Of
he events Of the session. isa
FOR VENTILATED CARS.
Senator Reynolds Of Cumberland intro
iuced today what may be called vesti-