MONEYLENDERS
A MEASURE OF CONTROL LEGISLATION IN BRITAIN. LONDON, March 4. In the House of Commons, Mr J. B. Burman (Con.) moved the second reading of the Moneylenders’ Bill, which is substantially the same as when it reached the committee stage last year, providing for the licensing of moneylenders, prohibiting circularising or loans to wives without their husbands’ knowledge, and laying down 48 per cent, as a reasonable interest. Commander J. M. Kenworthy (Lib.) moved the rejection, contending that the Bill did not remove the abuses of usury. . On the one hand there were impoverished noblemen and gilded sharks? with long pedi gross and armorial bearings, who borrowed huge sums of money from West End moneylenders well knowing that repayment was impossible; on the other hand there were unregistered lenders who lent poor women a shilling or two shillings weekly and charged a penny on the shilling weekly, working out at 400 per cent. The Bill passed the second reading without a division.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WC19270307.2.48
Bibliographic details
Wanganui Chronicle, Volume LXXXIII, Issue 19784, 7 March 1927, Page 7
Word Count
163MONEYLENDERS Wanganui Chronicle, Volume LXXXIII, Issue 19784, 7 March 1927, Page 7
Using This Item
NZME is the copyright owner for the Wanganui Chronicle. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.