Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1914-03-26
UNCLE ShN'S Men
EASY FOR SHARKS
Money Lenders Near Capitol
Charge Excessive interest.
CLERKS ARE EXTRAVAGANT.

Aggregate Loans Estimated at $780,
600, and the Average Interest $50
Per Cent, or $7Soooo-Law Of Con
sress Evaded by Money Lenders
Moving Across Potomac to Virginia,
Washugtou. or all the shady in
tcrcSts which are carried ON by govern
mEut employees in every department
the "loau shark evil is said to Ne the
worst For years department heads
and bureau ChicfS have failed to stamp
out the class Of men who carry on
the business among their associates at
lruding small sums at excessively large
rates OF interest
In the office of the United States nj
torucy for the District Of Columbia are
filed NJ the present time no less than
tifty distinct charges Of loan shark
ing." the Offenders Including protC@
Sional money lenders. In n preliminary
statement recently given ont Assistant
District Attorney Given said that II"
less than LOCO complaints of violation
of the loan shark law have been re-
triNrd from persons who requested
that their names hc not made public,
\ little over Il year ago congress en-
acted a drastic law against "loan shark
ing The interest rates which had
formerly ranged from 80 per cent 70
500 per cent II year, were cut to per
cent II month. For n time 1t was he.
licvcd that the business In Washington
was dead Then the money lenders
put their heads together and several OF
the professionals who maintained Of
fees in the downtown section Of the
city tried the first evasion of the law.
1t is about twelve city blocks from
the western edge of the downtown dis.
trirt to the Virginia side of the Foto
mac river. Within fifteen feet of the
high water mark on the Virginia side
OF the river two or three OF the lend
crs built offices and hung out three
balls. An intcrurban electric line gave
easy access to and from the city, Signs
giving notice of the change OF location
were displayed before their downtown
| Washington offices and several other
! shops bore signs of n change of resi-
! dcncc to Alexandria. Va, i've miles
down the Potomac,
! Thus by cooperation among the
money lenders the entire professional
loan shark" business of Washington
was moved to Virginia, with the cN.
! ception of the "amatcm"/bloncy lend.
ers IN the government departments,
| This. the police found. is the thing that
| the district attorneys office Is deter
mined to stamp out
1t Is said that n negro messenger In
| the treasury department accumulated
over $4,000 during his thirty five
| years of service through looming small
sums ut excessive rates OF interest.
one of the money lenders established
| between his Washington office and his
Office on the Virginia shore II half hour
automobile livery service for clients In
| downtown Washington, across Poto.
mac park and the Highway bridge into
Virginia. II proved too expensive. how
| ever
Washington, filed with residents
whose homes are elsewhere has prob
ably the most apnthetic civic con
science in the world. Its population Is
nearly as cosmopolitan as that of At
lantic City. and there Is n spirit of
rivalry as To dress and front" in the
very municipal atmosphere. \ man
| with government position hns n pres
tigc In his home community that few
! other positions of employment confer
| The incumbent thinks he must live up
| to II by aping the dress and manners
| Of the idle rich. The messenger with Il
salary Of 5000 or 800 n year aims 10
| dress like his superior, the clerk He
does not want the public TO think he IS
"A mere messenger. The clerk would be
a division chief and he aspires Ia dress
the part He goes the messenger one
better by allowing himself TO bc drawn
into the ultra atmosphere Of petty SO
cia affairs in Washington. which rare
~ get him anywhere The division
chief likes to be mistaken for an as
sistant secretary And thus the merry
game goes on.