The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-05-20
FOR THE POOR
MERCHANTS WORK
A COMMITTEE WAS NAMED
TO DRAFT A BILL MAKING HIGH
INTEREST A MISDEMEANOR.

At Meeting of Merchants AssOcia-
ton Committee Was Appointed
to Draw the BiII-Mr. COIIHt Says
Merchants Are Working for Pro-
lection of POor-Hard Fight Prom
iscd-Outside Help Is Now Hoped
for.
Make usury a misdemeanor is the
the slogan OF Savannah merchants
now.
AT a meeting of the Retail Mer-
chants Association yesterday a com
mittee was appointed to consult with
the attorney of the organization and
draw bin to present at the next ses-
sion of the Legislature, making it il
legal for money lenders to charge more
than the legal rate of interest.
The merchants are very much in
earnest about the matter, and will not
rest until such a law is passed. Pawn
brokers are, of course, money lenders
as we'll as the regular loan office men.
There were presented at the meeting
numerous communications from prom
inent citizens, calling attention to the
high rate Of interest charged by the
pawnbrokers and commenting the
stand taken by the merchants in their
efforts to do away With this evil.
A prominent merchant said after the
meeting that there are any number
Of persons paying an enormous rate
of interest and at the same time pay
ing 81. so each time a mortgage is re-
newed. The money lenders insist that
the mortgage be renewed every thirty
days, so within a short time the Dor
rowers have paid more for the mort
cages than the principal to say moth
ing of the enormous interest.
viii Protect the Poor.
The committee appointed by the
Merchants Association consists OF
Messrs. Isadore Collat. A. S. Nichols
and p. T. Foye, who are to draft
bill to be presented to the Legislature.
This committee is to confer with Jacob
Gazan, Esq, the legal adviser of the
organization, in preparing the bill.
Mr. Collat, the chairman of the CON-
mittee, said that the merchants are
working for the protection OF the poor
of the city. The idea in appointing
the bill drawn and presented to the
Legislature. Every effort will then tc
used to get it passed.
All the retail merchants are against
the usurious money lenders. one OF
the hardest fights ever made before tn"
Legislature will be put up to get such
81 law passed, as will project the poor
from exorbitant charges. Mr.. Cola!
said it is the intention of the organiza-
ton to draft a bill that VIII make all
charges over the legal rate of interest
a misdemeanor. The form of this bill
will, of course, depend upon the COM
mittee. and the advice Of the consult
ing attorney.
VIII BE Hard Fight.
Mr.. Gazan. the attorney for the or
ganization, said he thought such a bill
would be constitutional. One was be-
fore the Legislature some time ago and
it was defeated Mr.. Gazan said, and
there might be some trouble in getting
it passed, but he had no doubts as to
its being constitutional.
The retail merchants of the city are
very much stirred up about the matter
and are going to make one of the hard
est fights ever waged to get the bill
through. II is thought the merchants
and substantial citizens of other cities
will join the Savannahans in the fight,
said a prominent advocate of the pro-
posed law.