. California agriculturist and live stock journal. Agriculture -- California; Livestock -- California; Animal industry -- California. California Agriculturist and Live Stock Journal. CajJtal and ^aboc. The Danger of Borrowing. "The borrower is servaut to the h'uder.'"âHoly Writ. BY JNO. D. SCuTT, MI). n â Ct^D Agricultueist:âI have been inform- ed that no one, no matter what his standing or wealth, can borrow a dollar from any of our banks. A gentleman in this city, with some fifty thousand dollars, was indebted to one of our money-lenders in the sum of a thousand dollars. The lender
. California agriculturist and live stock journal. Agriculture -- California; Livestock -- California; Animal industry -- California. California Agriculturist and Live Stock Journal. CajJtal and ^aboc. The Danger of Borrowing. "The borrower is servaut to the h'uder.'"âHoly Writ. BY JNO. D. SCuTT, MI). n â Ct^D Agricultueist:âI have been inform- ed that no one, no matter what his standing or wealth, can borrow a dollar from any of our banks. A gentleman in this city, with some fifty thousand dollars, was indebted to one of our money-lenders in the sum of a thousand dollars. The lender demanded his moneyâsaid he must have itâ swore he could not do without it. The bor- rower tried hard to get a loan to that amount from our banks, and notwithstanding his of- fer of unexceptional security, he utterly fail- ed to command the accommodation. Eeturn- ing to old money-bags he informed that "pound of flesh" individual of the fact- Shylock then very coolly remarked, that in as much as the borrower could not jiay his note, that he must give him a new one, at one and a half per cent, interest per month. As there was no other alternative he was forced to submit to the extortion. As there is no business in California, except it be highway robbery, that will warrant bor- rowing money at a greater interest than six or eight per cent, per annum, it will readily be seen how grievously this man has been wrou'ged and robbed in the above transaction. It matters not whether a robber levels a legal or all iriju blimdmbuss at his defenceless neighbor's head. The effect is the sameâthe exaction of money by force. The wretched Viorrower might just as well fall iu the high- way as to sulier a lingering death iu the spi- der-webs of the law. It. seems then that old Hhyloi'k could have done without his money after all. It was simply a dodge on his part to extort more in- terest. But he must have known beforehand that the banks would not loan under any circumstances, or h
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