EXORBITANT INTEREST
2000 PER CENT.
That interest on a debt amounted to about 2000 pe went, per annum was admitted by a moneylender to Judge Sir Alfred Tobin at the Westminster County Court lately. He said, “On a promissory note for 10 guineas, £7 10s was advanced, and the whole sum is due if the first week’s instalment is not paid; how much per cent, per annum is that?” , Moneylender: I can’t say at once. Judge Tobin: Well, go down and work it out. ( When the moneylender returned some time later he stated, “It would be about 2000 per cent., but the money was lent in 1927.” Judge: Well, that’s very candid, and the borrower offers 10s a month. Let him pay that. No committal.
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https://paperspast.natlib.govt.nz/newspapers/ST19300527.2.11
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Southland Times, Issue 21093, 27 May 1930, Page 2
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125EXORBITANT INTEREST Southland Times, Issue 21093, 27 May 1930, Page 2
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