Omaha daily bee., 1908-07-27
YEISER PROPOSES USURYLAW
Asks Candidates for Legislature to
Help Settle Loan Shark Question.
OUTLINES STRICT LAW NEEDED
would Limit Monthly Interest 20
I-2 and MAKE salary Assign
ments for Collateral Invalid,
but wants suggestions.

No more povrds Of flesh will dare be de-
manded; no more beds will be taken from
under Ill and destitute people; no more
men and women discharged from their po-
sitiohs because OF collectors harassing
ltheir employers and no salary assignment
will be valid as collateral for loans, II the
candidates for the Nebraska legislature
commit themselves in favor Of passing a
law outlined bv John O. Yeiser. copies Of
which have been sent to each candidate.
Mr.. Heiser has been the attorney in
many suits and cases brought in behalf
OF people who have been victims of loan
agents as a result of the exposures made
py Inc Bee and the Information given by
THIS newspaper concerning the methods of
the INSCRIPTIONS men who have imposed
on ignorant and unsuspecting people. After
being successful In a large number Of
cases and receiving many evidences that
public sentiment was with The Bee in tho
exposures made, Attorney Yeiser has sent
a letter to every candidate for the legis-
lature. He puts the question fairly to
every one and says he believes he has a
right to urge an answer from each candi-
date because so many people are inter
ested and desire to see n large class OF
poor people relieved Of the burdens which
at any time may be thrust upon them by
the men who have come to be known as
body s]natchers."
wants suggestions on Law.
Attorney Yelser does not ask that the
tentative outline for the legislation sug-
gested be adopted, but invites suggestions
and criticism Of his plan from all candi-
dates In the hope that the question OF tho
loan shark imposition on the poor may
be settled forever,
As the smaller towns and cities are not
afflicted with the loan shark to any
great degree, Mr.. Yeiser believes the feel
ing In the country will be that members
OF the legislature should take the action
suggested as soon as voters learn how
people In the larger cities are imposed
upon by the sharks. The exposures made
by The Bee nave already supplied much
material for reflection to the voters in
the country and Mr.. Yeiser is Of the be-
lief that they will support the passage OF
laws which means a square deal for people
or Nebraska. His letter to candidates for
the state legislature follows:
n square Deal" Letter.
Having devoted considerable time TO
Iightlng usury Cutrages. and being at con-
1 ers ! expense to Keep the same up
personally! because poor people in the
hands or loan sharks are not able TO nav
lawyers, l have concluded to urge all as
plrents 70 the incoming legislature Of both
great parties TO take an interest In the
question OF settling forever in this state
this terrible imposition upon the poor.
4 propose the following law to stop this
abuse, and wish to know whether or not
you will publicly promise and announce In
your campaign for the office your lnten-
tons OF supporting a bill with the follow
ing provisions:
First-Providing that in all cases where
lhlerest contracted exceeds 3h per cent |
per month. both principal and interest shall I
be forfeited.
second-where interest exceeds 10 per cent
per annum. and does not exceed 80 per
cent per month. interest shall be forfeited
law. So P'''
Third-Providlng a Jan sentence for sale
endorsement or transfer out Of the state
or a negotiable note illuminated with
usury' without endorsing notice of usury !
thereon. 1850
Fourth - Providing a fail sentence for
blacklisting any person who pleads usury.
F1fth-Prov1ding that an attorneys Zee
be added to the cost for defending or
prosecutlng Tor relief any contract con-
sixth-Providing that all salary assign
ments or unearned wages or salary to Sc
cure a u%surious cortrC- "halI be void.
Se~Venth-Providir Ghsf leases OF poods
n provision on sale, shall he
as a sale, ~nG d,attel mortga &c
and the title thereto, subject TO such lien
pass when 3Sh per cent of consIdera-
ton snail. have been paid.
/ feel that because of public confidence
repOsed In me upon this 1ues-
ton by a large percentage Of poor people
you to answer in their behalf as TO each
OF the provisions above. I also desire in
formation from anyone Interested, who has
any suggestions to make as to changes in
ms tentative outline OF a law which Jus-
tice and fairness may suggest. Yours truly.
JOHN O. YEISER.