The Montgomery advertiser., 1901-08-01
AMONG THE SHARKS.

ing to The News. calls attention to one of the greatest obstacles lying in the path of the colored people of that city who are trying to make living. That obstacle is the "money shark" other wise the money lender. Unfortunately for the negroes they are unable to re- sist the temptation to borrow money when the opportunity presents itself, and it Is equally unfortunate for them that they are unable to foresee the con- sequences
 If one of these sharks proposes to lend an ignorant negro ten dollars. and tells him that he will have to pay only fifty cents a month by way of interest the borrower thinks he has made good trade. He doesn't see that ne is paying interest at the rate or eo per cent. a year. yet this is a very moo- erahte charge for these lenders. Ten per cent. a month Is not unusual. and the Atlanta preacher cited one case where a negro had borrowed ten dol lars, giving a mortgage to secure the debt, and was paying three dollars a month interest.
 Of course such a rate of interest as that Is ruiuous. but this class or money lenders can be found in every city their chief prey being the eolored pop uiation. That white men also fall into their hands Is true. but they are not such ready or easily managed custom CTS. It is chiefly among the colored people, who are too ignorant to caicu' late or foresee the result Of such a transaction. that these men find their richest harvest. These negroes oner a rich field for the sharks.
 Of course such interest charges as these are as illegal as they are out rageous. but If any effort Is ever maoe to suppress the evil. it Is evidently without effect. It goes on continuously for victims are never lacking, ane when one is sucked dry. another ii ready. Whether it Is possible wholly to prevent these money sharps iron carving on their business is doubtful hut It does seem that there might De g material reduction In the number oi victims. If it was any ones business t' look into 1t. It seems to be or Una class of cases which is nobodv's nus' ness. however great the evil may pc ar however ruinous 1t may be to those who are the victims'
 Of course it will be argued that nc one is compelled to have dealings wltf these sharks. but the argument II
 worthless. It occasionally happens tha a man, who cannot get money from banker or a legal money lender. Il compelled to have 1t. Then he mus submit to any degree of extortion tha | the conscience. or lack Of conscience l of the lender sees fit to practice or him. If the latter demands botl | money and blood. the borrower mus
 submit And in the case of ignoran negroes the practice Is a. natural out | come of their nature and their wan
 of forethought. They think 1t an ac commodation when any one offers O agrees to lend them money, and the! have neither the education nor the fac
 ulty to foresee the inevitable result
 And the money lender makes them be
 lieye that he Is acting the part of
 true friend when he advances none!
 to them. AS La Rochefoucauid ex | plains 1t: Interest speaks all sorts O
 tongues, and plays all sorts Of parts 1 even that of disinterestedness." but no ] one of the sayings of Solomon is nor
 strictly true than his assertion tha
 "The borrower is the servant of tn
 lender" In this case he is the servant
 the slave and the victim.
 Cannot the breed of money shark
 be greatly reduced at least:
 I