Does Money-Lending Pay?

Manawatu Standard, Volume X, Issue 1456, 16 September 1885, Page 4

Does Money-Lending Pay?

■" -iThe -writer of " Melbourne Go3sip' ( m the Sydney Mail has the following interesting 2 jav^S rrana P n :-i ~ "When Antonio asks the Venetian usurer "Is your gold and silver ewes and rams ?" Shy- . Jock makes : answer : " I cannot tell ; I make ifc breed as fast." And this must be the case with some of the Melbourne money-lenders; one of whom, who is also of the Hebrew uersiiasion, was examined m the Insolvency Court the other day m connection with certain pecuniary transactions he had had with a grazier of Narree Warren, to whom he had advanced £500. For this the witness, David Henry by name, admitted that he was to recover £1500, being at any rate 300 per cent. The man attempted to justify -these exorbitant terms by stilting that they covered the risk, as well as the bonus- and interest. When asked what special risk >there was m this particular case, the- 'money-lender was driven to acknowledge that he did not know of any \ Harpagon and Sir Giles Overreach still flourish. in the midst of us, and'the men pourtrayed by Molieere arid Massinger have their little prototypes m this city, and cover their wives and daughters , ; with diamonds paid fpiv out of money wrung from necessitous borrowers of money at rates of interest which are simply appaliner m their magnitude."