The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-02-25
DESTROY THE LOAN SHARKS.


eeroay when the United States Supreme
court. In the case of Bradley VS.. tn,
SitF OF fichmond, decided that n mn.
hicipaiity possesses the right to i'm.
pose as heavy n license tax upon mr.;
vate banking concerns as It sees ut
The mandate is in favor Of the Dor
rover MS against tho loan shark" IL is
on the side Of equity as against usurv
For six years the case has been pend
ing. but justice. long DELAYED. has como
at last Richmond or any other CITY
mas an unrestricted right to regulate
the private moncy-Iendcr.
The lceches who exploit the poor
people under cloak of the law hive
pcen brought to time at last II is not
with the specific case decided ycster-
DAY that wo are concerned, but with
/ the case of tho Insurer everywhere. The
case decided was test case bearing
upon the loan shark business every
where The inhuman gentry who in
'housands of places cntice poor and
ignorant people needful OF money into
inohstrous contracts for IL loan by
which tho borrower pays back anv
where from 10 to 1000 per cent inter
est are arrested by yesterdays dccis.
ion. The shrcwd lender who takes n
dastards advantage of illiteratc whites
and blacks has como within the polc
OF Just law at last. A vital blow has
been struck at n system of money-lcnd-
ING pased upon design to get back
not only the principal OF n debt, but a
lew hundred per cent interest in addi
tion. thousands OF honest pcoplc are
daliy caught III the tolls of an octonus
which never lets go if il can helm il
y recent case in large Virginia city
/" "hich negro WAS charged 500 per
cent by a moncy-lcnder has been no
ticed by Tho Times Dispatch.
Where has there ever been sucb
oarc-iaccd audacity as that displayed
III defense of tho money lenders in tho
present case? The parasites that nroy
the country over upon the lo,vIv
the needy and tho unfortunate con.
tended for themselves that the ordi-
nance of the city of Richmond limos.
ing n heavy license tax upon the lend
CT was 'prohibitory and exorbitant-"
the rate "cXorbitant" what shall wo
say OIL tho fearful interest charged?
was 1t not 'prohibitory' TO the extent
that 1t well-nigh prohibited tho bor
rover from having any money at all?
IL the license tax imposed upon the
loan shark was "cHorbitant" what was
the rate that tho lender charged the
borrower ii it was not "exorbitant"
and excessive beyond all right and all
reason? And these frenzied iinanciers
'iau the cold nerve TO cite in their be-
malt that provision OF the Constitution
OF the United States which declares
that no citizen shall he deprived Of
life, liberty or property without due
process of law" What is the action
or the lender in cX;tcting from the Dor
rover four or five times the value Of
the original loan in interest, if il is
not a deprivation OF property without
que process of law? 1t is nothing less
than contcmptuous slap in the f;co
OF all law and all conscience and an
right.
For it's part, The Times Dispatch
hopes that, If present conditions justi-
fly II. the city will impose such license
taxes upon money sharks as will be
contiscatory. The power TO tax is tho
power TO destroy said the greatest
judge that ever trod the soil or Rich
nond' Il man who was a great but
humble friend of the poor people. If
conditions warrant it, this power of
destruction should be invoked against
the loan sharks SO that they will he
driven from the city. 1t would be an
inestiinablc blessing if. instead OF the
usurers. We could have in Richmond
loan institutions conducted under the
auspices and protection of the city or
of philanthropic societies.
The man who twists the law so that
he can wrench from the poor man
three or four times the amount lie has
loaned him and the man who holds up
another and takes all that lie has arc
separated only By The thin and infa-
nous line Of legal fiction. Usurv is
the vilest form OF thicvcry, because IL
goes on IN the shadow OF the law. II
rs a hidcous thing that nourishcs like
a green bay tree where the tcara of
the stricken, the friendlcss. the home
less and tile poor fail, IT battcns upon
misery and misfortune. The decision
of The highest tribunal ia the land
yesterday struck at its root, and the
people rejoice
IIIKERs "GENIiLIXEDv uAJTIuOu,,
Many people nave wondered what
tho suifrar,isr ,s...,,