CH. IX.] PAWNBROKERS. 209 



CHAPTER IX. 



LOANS UPON PAWN, AND SAVINGS-BANKS. 



A SOCIETY has been established within the last two years, 

 in some baronies, to assist persons who are in need of 

 loans to purchase either a pig, potatoes, or meal. The sum 

 thus advanced has amounted to 720/., amongst 400 per- 

 sons who have borrowed money, at the rate of 6 or 7 per 

 cent, interest, and on condition of repaying it weekly, 

 which makes almost 13 or 14 per cent. No one has 

 sustained any loss. 



In three-fourths of the baronies there are no pawn- 

 brokers, but there is a class of men who practise usury, 

 and who, after receiving the best securities, take as much 

 as 100 or 150 per cent, interest. The working classes 

 always pledge their clothes or beds, and sometimes their 

 tools. 



Money being very scarce, usury is carried to a scanda- 

 lous extent, and all the witnesses lament that there are 

 not everywhere pawnbrokers, who are by Act of Parlia- 

 ment forbidden to take more than 20 per cent, interest. 

 The loan is for a year, but if the borrower repays before 

 the expiration of that time, the lender exacts the same in- 

 terest. They however sometimes advance loans for six 

 months ; and in these cases, if at the end of that time the 

 borrower desires to renew his ticket for another half-year, 

 he pays, besides the interest for the six months, a shilling 

 for the trouble of making out the ticket. 



