Evening star., 1922-03-12
CITIZENS COMBAT
. PAWNBROKER BILL
Committee Letter to Men,
bers of Congress Opposes
Measure Coming Up Monday.
ASKS 2 PER CENT RATE
Present Law Efficient and Ade-
quate, signers Declare, If Higher
Interest Is Allowed.

loans in the District Of Columbia.
| coming up for consideration as, un-
finished business in the House tomor-
row, every member of Congress re-
| ce!ved yesterday letter from the
| citizens committee on remedial Joan
law, urging Congress not to pass the
| proposed legislation. In this circular
! letter the following reasons were
given:
a. The District now has a pawn
| brokers' law which provides for the
| regulation of pawnbrokers and their
| business, with ample provisions as to
! licenses and the protection OF bor-
| rowers, which has proved to be a wise
| law.
"2. Any loan law which does not
provide for those who need to- borrow
| small sums on notes as well as on
| pledges is entirely inadequate.
"3. The limitation of the rate al
| lowed, to l per cent per month, Is
| the only reason why loans Of both
kinds are not being made under the
| existing law, of February 4. 1913.
Higher Rate Enough.
| "a. An increase in the rate to 2
! per cent per month, as originally
| asked for by the citizens committee.
| and by the District Commissioners. In
| their bill, H. r. 5015, will be sufficient
| to establish the business in both
| small loans and pawnbrokers' loans,
| and to successfully meet all demands
| of this character.
| "5. The pawnbrokers' bill, H. r.
| 5000, will afford no relief to the class
| Of persons, probably larger in wash
f, ington than in other cities, who need
small loans, but have no pledges to
put up.
sc. The existing law has been sus-
| tanned by several decisions in the
Court of Appeals and two in the Su-
| preme Court of the United States, one
| of which declared it to be a pawn
brokers' law. 1t has been SO effec-
| lively enforced by the District Com
missioners that it has closed up all
| the offices of illegal money lenders
| in the District.
Commissioners' Bill Favored.
"7. Congress is therefore earnest
ly urged to pass the bin introduced
by the Commissioners. H. r. 5015, in
| creasing the rate. in the present law
| to per cent per month.
1 49, The pawnbrokers' bill, H. r.
63Oa, repeals the existing law. and
as it would be new law and makes
no provision for loans except on
the illegal money lenders. whom the
Commissioners have driven out.
ut would be a decided mistake to
pass such new law to take the place
of the one which has been SO effec-
tive in stopping all illegal business.
and which can be made fully effective
for legitimate loans by restoring the
rate to per cent per month in the
present law, as asked for by the Com
missioners.
- The District Commissioners.
the Board of Trade. the Federation
l nf
izens' committee have all definitely
| disapproved of the 'pawnbrokers'
BILL after careful consideration. and
Congress is again urged to pass the
Commissioners bill. H. r. 5O15. which
is Endorsed also by the Chamber of
Commerce"
Names of the Signers.
This letter was signed by the fol-
lowing: Charles S. shreve. William
| J. Eynon, John Van Schaick, jr.. Mrs
Archibald Hopkins. Evelyn Vain
/ wright, George S. Wilson. Corcoran
Thorn. William F. GUIDE. William H.
| Baldwin. II. C. Gauss. John Joy Ed:
son, P. H. Marshall. Evan H. Tucker
and Walter S. Ufford.
The citizens committee on remedial
| war loans was started at a public
meeting of the Monday Evening
! Club. at which loan conditions in the
city had been discussed, on December
! 20, 1909. At this meeting a commit
| tee Of five was directed to add to its
| number in order to make a committee
which would be really representative
of the citizens of the District 1t
was in this way Immediately en-
larged to twenty members and now
4 consists of JohnJoy Edison. John B.
Colpoys. William F. GUIDE, Mrs.
Archibald Hopkins, DR.. George NJ.
Kober. Evan H. Tucker. W. s. Ufford,
Rev. ]. Van Schaick, jr.; Mrs. Rich
| ard Wainwright, George S. Wilson
and William H. Baldwin, who have
| been members from the beginning.
and William ]. Eynon. W. T. CALI
venor, P. H. Marshall, Cuno H. Ru-
dolph, Charles S. Shreve, Corcoran
! Thorn and Henry White, who have
been elected from time to time by
the other members of the committee
| to fill vacancies caused chiefly by
the death or by the removal from
| the city of the original members.
| Justice David ]. Brewer, who was
then president of the Associated
! Charities: E. Francis Riggs and John
B. Sleman, jr.
| Committee OF Long Standing.
! These names show that the repre-
sentative character of the committee
| has been constantly maintained. The
/ committee elected William H. Baldwin
i chairman and George S. Wilson secre-
4 tary, who still hold these offices, and
4 it has had a separate and independent
4 existence since it was started.
II The purpose of the committee was
i to do away with the extortion of the