The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-01-03

wage, because under such a Jaw only
the fully competent would be employed
What do you think of the scheme
for state insurance against periods OF
unemployment"
In this connection attention was called
to the difficulty of such insurance in the
case of a man who was naturally shift
less, who was lazy, who was accus-
toned to periodical intoXication or who
was dishonest. Mr.. Sulzberger summed
up his answer to the question in the
/ following words:
! The best plan for unemployment in
surancc Is for each man to insure him
self by saving part of his wages"
Mr. Sulzberger did not care To discuss
in det all the idea of a central emergency
loan fund which IL Is announced Will
be the first definite feature TO be
adopted from many suggestions made
to the Mayors committee on unonploy-
ment. at least not until he had had
further opportunity TO consider the mat
ter in it's various aspects THE SUNDAY
Sun representative was referred in this
particular to the Hebrew Free Loan As
ISOLATION at l0S Second avenue, which
for more than twenty years has been
lending sums ranging from IS to 5000
without interest or other charges 10
men in need Of financial assistance.
This phlanthropic enterprise was
started In 1892 with a capital OF less
than 800. Since then It has made loans
to 259705 borrowers, the loans aggre-
eating S6,6l9,S5i OF this total moro
than 81 per cent has been repaid by
, the borrowers themselves and less than
per cent. by those who indorse for
borrowers Samuel Seinfel, the mana
ger of the institution, says that during
1914 the losses averaged less than i've
. eighths OF one per cent
Ordinarily We make loans from IS
: to $500" he went on in explaining the
: operation OF the association; but mis-
past year we had so many applications
! for our necessarily limited capital that
: we had to cut down the maximum
! amount loaned during eight months OF
the year to 800. and for the months ~
September and October to $50. During
= 1914 we loaned TO ease borrowers sums
e aggregatlng s657,14O, and we could havo
= loaned as much as 100000 II we had
!, had the capital"
u The borrower who applies to the He
brew Free Loan Association must have
n his note indorsed by two business men
T whose responsibility Is investigated ON
sums borrowed from So TO $50 the hor-
p rover pays back 10 per cent. per week.
e but the loan may be renewed, Othor
II security than that Of accepted indorse
mcnt Is not needed and there is n.
y charge for interest, accommodation,
= nor Of course for any OF the extras nv
" which loan sharks prey on helpless VIC
tins in financial straits So great has
y been the pr ctical effect ~ this enter
~, prise that It long ago aroused tho sym
- pathy and help Of such men "a JACOB
H. Schin, NdOlph LewlSohn, Louis
" Marshall FcliN Warhurg, Mort'W''
SChifr Baron dc Hirsch, Henry GOD
>, man. DR. julius Goldman. Harry Sachs
=, Samuel Sachs and many other men an'
A. women as vel,
-, Those I'm charge Of the free lon
~ association are convinced that IN
= average man. no matter how poor, u
an honest man. Their experience seem
80 to prove 1t conclusively, so far as the'
- borrowers are concerned at any ray
M Loans are made without regard TO Tae
re or religion, and those who nave Nor
ho rowed include men and women engage
,ir in nearly $50 different occupations Fu
we statistics for the year 1914 are no
"a ready for publication as yet, hut In th
at pre- ,ed!ng year, 1913, money was loan"
NV to 2 956 pedlers and to 2,GeN housewives
IT. taiiors were third Ia number, i,S2S
on whom borrowed sums from the asSc
am citation. -..-