Ireland Under Coercion: The Diary of an American (2 of 2): (2nd ed.) (1888)Hurlbert, William Henry
History
Ireland Under Coercion: The Diary of an American (2 of 2): (2nd ed.) (1888)
Hurlbert, William Henry
Ireland -- Description and travel; Ireland -- Politics and government -- 1837-1901
Of the details of the dealings of the private banks it is very hard to
get an accurate account. One gentleman, the manager of a branch of one
important bank, tells me that a great deal of money is made by usurers
out of the tenants, by backing their small bills. This practice goes
back to the first establishment of banks in Ireland. Formerly it was not
an uncommon thing for a landlord to offer his tenants a reduction, say,
of twenty per cent., on condition of their paying the rent when it fell
due. Such were the relations then between landlord and tenants, and so
little was punctuality expected in such payments that this might be
regarded as a sort of discount arrangement. The tenant who wished to
avail himself of such an offer would go to some friendly local usurer
and ask for a loan that he might avail himself of it. "One of these
usurers, whom I knew very well," said the manager, "told me long ago
that he found these operations very profitable. His method of procedure
was to agree to advance the rent to the tenant at ten per cent., payable
at a near and certain date. This would reduce the landlord's reduction
at once, of course, for the tenant, to ten per cent., but that was not
to be disdained; and so the bargain would be struck. If the money was
repaid at the fixed date, it was not a bad thing for the usurer. But it
was almost never so repaid; and with repeated renewals the usurer, by
his own showing, used to receive eventually twenty, fifty, and, in some
cases, nearly a hundred per cent, for his loan."
It is the opinion of this gentleman that, under the "Plan of Campaign,"
a good deal of money-making is done in a quiet way by some of the
"trustees," who turn over at good interest, with the help of friendly
financiers, the funds lodged with them, being held to account to the
tenants only for the principal. "Of course," he said, "all this is
doubtless at least as legitimate as any other part of the 'Plan,' and I
daresay it all goes for 'the good of the cause.' But neither the tenants
nor the landlords get much by it!"
CHAPTER XIII.
DUBLIN, _Thursday, March 8._--At eight o'clock this morning I left the
Harcourt Street station for Inch, to take a look at the scene of the
Coolgreany evictions of last summer. These evictions came of the
adoption of the Plan of Campaign, under the direction of Mr. Dillon,
M.P., on the Wexford property of Mr. George Brooke of Dublin. The agent
of Mr. Brooke's estate, Captain Hamilton, is the honorary director of
the Property Defence Association, so that we have here obviously a
grapple between the National League doing the work, consciously or
unconsciously, of the agrarian revolutionists, and a combination of
landed proprietors fighting for the rights of property as they
understand them.
Public-domain text, read in full here on John Shaqi.
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