“Although, as I have said, all question as to the right of what is called a moderate rate of interest was new to most of our visitors, yet I found a greater degree of openness to the truth than might have been expected. One of the most interesting parts of the discussion was the relation by one of the party of his own experiences, in years past, as a money-lender. ‘In the place where I used to work at that time,’ said he, ‘there was a very many of a good sort of fellows who were not so careful of their money as I was, and they used often to run out of cash before the time came for them to take more. Well, knowing I was one that always had a bit by me, they used to come to me to borrow a bit to carry them through to pay-day. When they paid me, some would ask if I wanted aught for the use of it. But I only lent to pleasure them, and I always said, No, I wanted nought. One day, however, Jack —— came to me, and said, “Now, my lad, dost want to get more brass for thyself, and lay by money? because I can put thee in the way of doing it.” I said that was a great object for me. “Well,” said he, “thou must do as I tell thee. I know thou’rt often lending thy brass to them as want a lift. Now thou must make them pay for using thy money, and if thou works as I tell thee, it’ll grow and grow. And by-and-by they’ll be paying and paying for the use of their own money over and over again.” Well, I thought it would be a good thing for me to have the bits of cash come in and in, to help along with what I earned myself. So I told each of the men, as they came, that I couldn’t go on lending for nothing, and they must pay me a bit more when they got their pay. And so they did. After a time, Jack —— came again, and said, “Well, how’rt getting on?” So I told him what I was doing, and that seemed all right. After a time, he came again, and said, “Now thou finds what I said was right. The men can spare thee a bit for thy money, and it makes things a deal more comfortable for thyself. Now I can show thee how a hundred of thy money shall bring another hundred in.” “Nay,” said I, “thou canst not do that. That can’t be done.” “Nay, but it can,” said Jack. And he told me how to manage; and that when I hadn’t the cash, he would find it, and we’d halve the profits. [Say a man wants to borrow twenty pounds, and is to pay back at three shillings a week. The interest is first deducted for the whole time, so that if he agrees to pay only five per cent. he will receive but nineteen pounds; then the interest is more than five per cent. on the money actually out during the very first week, while the rate gradually rises as the weekly payments come,—slowly at first, but at the last more and more rapidly, till, during the last month, the money-lender is obtaining two hundred per cent. for the amount (now, however, very small) still unpaid.]