Show i merica's I Greatest Newspapers Praise Industrial Id frO lB Banking S System A mo most moat t promising promising of or sound B ng and expanding beneficence has st been Incorporated at Richmond at Va S ider er the title tte of at the Industrial Finance with wih a capital of or I ida if a a board bard of ot directors including a nuin- nuin I i r of t f very ami able men There are two evis evils or defects in most Tour our large laIge communities to the tim abatement abate abate- sot ment or correction of or which this this' organ- organ tion ton will wi direct Its Is efforts One is the tho to which honest and industrious Ben tn en In Jn temporary straUs straits arc are often ofen sub sub- to borrow borro at high rates on terms with ith which tie they cannot comp comply giving loans leans ons which ultimately cat eat up all al their and reduce them to w want nt To o Tolila ohis his lila class cass the loan ioan sharps sharps lend freely us the ain aln is great and the real sk isk sma mal l. l while the tho ruin of or the tho bor- bor rawer doca doea doc not concern them The rho InU In- In U trIal Finance corporation will wj lend July for or at actual l' l needs and on r a ason on ur ucc of repayment It J will wi restrain ether tier than tempt er borto borrowers and will wi seek tek to aid Id them toward better condl- condl V Another benefit pl planned b by the corpora corpora- 1 Is the opportunity to Invest small fj savings fit st t higher returns than are arc now t lb bo secured with safety thus encouraging aging thrift and building up lP a basis of ot I ere New retH Jit v Nc York Times rimes Those who constitute n the organization U Committee those who are arc supporting Its efforts and those who are are announced as asS S directors of or the c corporation Include representatives rep rep- of ot finance and business Interests In whose character and ami standing ar are beyond all al que question New New York Journal Commerce 1 fc There Is a poor wa way nay to tight usurious man agents which is to rely rei on repression and tand criminal prosecution prosecution- There i la IH a ab b biter ter WU way which Is Is to that the business lne s of furnish furnishing In small loan loans Is Ii legitimate and and necessary and to tot try to t lu to render that service cr more cheaply cheh and L One way R always falls fails tail tho the ther ther may succeed The Industrial corporation Is to try tn the right way wa To furnish poor men loana WI wi without I bout unreasonable bin charges charSes and ando ito 10 o aid tem In Iii their joint credit or the purpose is about as useful a as 5 Intelligently directed capital can Undertake nd NewYork New York World 0 rid It I Is expected that one oie of or the Indirect J effect of DC tI th the e establishment of or the Moll plan banks will vili wil be te e an ar al aler- aler altera- altera J 1 t n of the and attitude of the them m nat FC toward the thc banking Interests Interests- broadly speaking peaking of oC labor toward capi- capi ital tul If th the industrial worl worker er no longer on er I has Jas to humiliate himself b by entering a pawnshop p or trafficking Ing with wih a loan shark ark but finds himself the the welcome customer of a n bank that extends credit to him at at- atthe the same rates that arc aro charged the business man he ho heIn jylli In feel loss hostile and perhaps s not at atall atall all l o. so 10 toward tho those o who having ac- ac capital put It at 11 lila liLs disposal on mutually advantageous ad terms The fhe The Inde In- In dependent de 1 People like Andrew Andiew Carnegie Mrs Irs rs E. E H. H Vincent Astor ARtor Julius Julus Rosen Rosen- iwald wald Edwin S S. S Marston Irston and others othell of great at wealth who have the public Inter Inter- et rl could not nut do 10 a better heter thins thing their money than in It U as HR h v are doing loing in in in the ne new financial corpora corpora- II Uon tion I European countries s shae have ha long 0 had hai this or a similar system of or industrial loans loans It I has lias been AmerIcas AmerIca's Americas America's Amer Amer- ica's leas reproach that that our land Jand of or the free fee and home home- of ot the brave has han been the para pam par par- disc diso of tho the loan Joan shark of tho the usurer Tho The now new concern concer Intended to remedy this will wi pay ay It Jt I ought to in reason New NewYork York Mall II t I tI I like It I the he Morris pa plan n because ItIs it itIn I I In Is a recognition of at the fundamental basis bals of all al business and that Is Js character ill All AI business goes on credit and this Isan la Is laan 11 an extension of or credit credi to the whole com corn I am am glad slad Iad to give i e it I my mr Indor Indorsement and promise c it my support It I is a a step in social and progress From every point of at view it Is Js the most interesting movement that has been started In the et city of New York Bishop Bishop David Jd II 1 Greer Creer of oC New Nework Y ork Its s 's a case of business usines and hla philanthropy philan united and working hand In hand handa hand handa a a paving philanthropy you ou might Fa Kay say Thus does Dr Elgin R It I L L. Gould characterIze characterize char char- the Morris Morrs plan plan of oC Industrial lom loans loan and savings t. t Tho plan is II a good Joo business proposition says as a's Charles H. H Salin vice Ice president of the tho Guaranty Trust company compan Hosts Hoat of at testimonials as al tp the systems system's reducing the loan Joan shark evil 1 0 come from cities 1 where h c such Institutions have been founded York Globe The practical details of the naU nation n wide system of small loans with which the Industrial Industrial In In- InI I Finance corporation is to break I the thc tooth of usury arc are as commendable as Is Is the the general spirit of oC the undertaking under under- taking S It should become I a avast avast a aast vast ast banking scheme among the tho te industrial industrial indus indus- I trial population serving sering man many many- purposes I besides war upon the loan Joan sharks New New New NewYork I York Evening Post The news newe that that Vincent Astor Andrew Andre Car CarnegIe glo and Julius Julus Rosenwald of ChIcago Chicago Chi ChI- r cago aJo Rr arC aro associated In a a aplan plan to establish establish lish a n chain of or banks acro across s the country countr for the purpose of oC making small smal loans to working men at a legitimate rate of at Interest est should R he one of at the most moet cheerIng cheering cheer cheer- ing InS announcements of at the new year ear New York Evening Sun A distinguished railroad man who has worked his W way up and knows knos all nl about the lie loan shark evil evi declares there should be one of or these companies In every city In the union where railroad men are aTe areto areto to be out One of or their functions Is Isto Isto Isto to redress the wrong implied in the tact fact that a majority of oC the owners of at the tho lying Idle In our savings banks to today are arc virtually unable to borrow borrow bor hor- ro row mone money The They may spend their savings say sav sa ings but the they cannot borrow on them Only In a a few v favored cities clUes can thc they turn their character and earning power I iaU Into collateral New New York Times Annal- Annal |