The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1909-04-04
By JOHN P. STOKES


a the rate of $I-40 monthly. And she
had paid interest for two or thTee
months beofre she fell behind.
How They Got One Man.
Here is the statement of an accOul-
OF AZ old Celored man with a wife AMI
three children. The o-G man cams
$40 Fer day. When employed regU
larry ne earns an average of $4,000
Per month For the month OF FEB
rUary he earned $500; for January
he earned $1,000. He was unable 10
woIk regularly during these TWO
months because Of lack of work
Before the yellow fever epidemic,
in 1905, he borrowed of one concern
$1,000. and paid as interest on the
loan the sum Of $500 monthly up TO
ard inclusive of the month of Janu-
ar, 1909. He got no receipts
August, 1907, he borrowed Of the
second loan man $1,000, and has pad
a interest the sum of $3.50 month";
up to and inclusive of the month O.
January, 1869. He got no receipts.
September, 1907, he borrowed Of
the third loan man $1,000, and has
laid as interest the sum of $3.50
monthly up to and inclusive of the
month Of January, 1903 RE got no
receipts.
Between these dates he borrowe
Of the fourth loan man. My docu-
mCnts don't give the details OF this
lean.
While the interest on these four
loans was being paid monthly by the
debtor, he fell i'll. He was out of enl-
pigment and fell behind with his ia
teTest. The loan men united in one
general effort to force the old negro
10 pay his back interest" They
threatened TO put him in Jail; and
they threatened to pull his fuTni-
tJTe. Something had to he done. So
the old fellow went TO a fifth loan man
and secured a loan of S20.00, agree
ing to pay as interest OIrthis loan the
sUIu of $500 monthly. The $4,000 pro
cured from tae fifth loan man wen;
10 the first, second, third and fourth
loan men as "back interest," on the
above mentioned leans
The total amount of money necss-
sary TO pay the interest on these sew
p-eI loans amounts TO $3.50 monthly.
The old man has been unable to pay
the interest on these loans for TWO
months, the result being that he >
now $3.50 behind with his interest.
All of his household goods are mort
SGaed to all five of the loan sharks
'EhCy are threatening him with arrest
and with the loss of his goods if he
doesn't pay. What is he going to do?
What About the Merchant?
This is the status of the unfortunate
debtor and his family. What about
the legitimate merchant? The old mar
informs me that he Is behind with his
grocer, his clethier. tae furniture man,
and his landlord. All because he has
been forced 10 pay his earnings TO The
loan men TO keep out of iail and save
his household goods TO his family. And
while this was going on the old man
and his family were deprived of many
o. the neCessaTies of life.
j. seems to me that the merchant
the landlord, the furniture man and
in fact every man in a legitimate and
hencst business is most vitality inter
esteC in driving out this terrible paTa-
site
White and Black in Their Clutches,
| thought at one time L would try
10 estimate the number of persons
white and black, in the clutches of The
l0an sharks III this city alone. 1 fig
urea on tle matter but gave up II
despair. 1t seems that almost every
ueSrO you meet is either paving the
'o;n men or has been paying them,
Ard the large number of white PEG
ps5 III this city who are in the clutches
OF the sharks Is appalling
Let's consider the law on the loan
business briefly. Have the debtors
any rights whatever, once they are n
the clutches of the sharks. assuming
thar the officers are rot disposed n
lGycr The plaintiff Who names the Of
tiCCT or officers who are TO. earn the