WOMEN MONEYLENDERS.

Hawera Star, Volume XLVIII, 22 October 1924, Page 2

WOMEN MONEYLENDERS.

WIVES WHO BORROW IN SECRET. LONDON, Sept. 4. Of 1380 money-lenders in Liverpool and Birkenhead 1100 are women. Their activities in the poor districts are condemned in a report by the Social and Industrial Reform Committee of the Liverpool Women Citizens’ Association. The interest charged in these districts is at least Id a week on every shilling. This is at the rate of 433 1-3 per cent for a year. A _ case cited by the committee is that in which a family, who had borrowed £2O, conld not pav the debt. The loan was renewed on a‘bill of sale for £4O. Of this, £l2 12s was deducted to pay off the former loan. For 28 weeks payments of 22s 6d were made. Payment failed for 10 days. The money-lender put in the bailiffs and claimed all the furniture, including even the bed under a sick child. LIFE OF TERROR. The committee has found that in many cases women borrow without the knowledge of their husbands, and are in constant terror both of the moneylender and the husband. The remedv suggested by the committee is educative propaganda in regard to the conditions and results of money-lendino-transactions. ° They advocate legislation requiring that a clear statement of each transaction should be given to the borrower bv the lender, imposing restrictions on the rate of interest chargeable, and insisting on guarantees with regard, to the qualifications of moneylenders before registration is granted.