THE BRITISH MONEY-LENDING INQUIRY

Auckland Star, Volume XXIX, Issue 148, 25 June 1898, Page 1 (Supplement)

THE BRITISH MONEY-LENDING INQUIRY

Few British Parliamentary inquiries have excited greater public attention than that on money-lending: and looking at the vast amount of evidence and experience they have- been favoured with, the committee's report, Avhen it is made, should, be an unusually interesting document. Sir Henry HaAvkins, avlio, as a judge, has had exceptional opportunities'of gauging the evils caused by extortionate xtsurers, gave evidence, and had many excellent suggestions to offer, first being that of the registration and licensing of money-lenders, in the same way that pawnbrokers now are. The moneyi( lender should be made to keep a record of all his transactions, with dates and details of bill reneAvals, interest paid, and so forth, for the inspection of the court in case of dispute; and, furthermore, Justice Hawkins Avould give the court a discretion as to the enforcement of bargains. He looked with particular favour on the American plan, by Avhich any attempted ! exaction of exorbitant interest makes the debt null and void. In the, course lof his examination Sir i .enry epuid no; help making his iii vie joke; *md if is one which a\ ill .be duly appreciated by all those .yhc-fhave^uffered at tbe hands uf rite tuirpi.es the comI mission is wUing to- expose. Asked : lioav ho would''deal with the raoneyI lender v. 7■. cR-eiwioual.y advertises as 'a private gontlemau,' the. judge, Avith a twinkle of tho eye, replied that if-guilty of fraud h e would make him a very private gentleman for soma time. What the committee-oi inquiry has to do is to formulate some scheme for dealing Avith tb<f existing loan system. , _ ?*