The . Government showed themselves very favourable to the Bill which Lord
Carson introduced in the House of Lords on Tuesday, for dealing with moneylenders. They propose that Lord Carson's Bill and the Bill which is now before the House of Commons should go before a Select Committee of both Houses to have their best points combined. Lord Carson's Bill provides that litigation about moneylenders' loans shall be referred to the County Courts to ensure cheapness ; that moneylenders' adver- tisements be prohibited ; that interest above 15 per cent. per annum be regarded as " harsh and unconscionable," and therefore invalid unless the lender can prove the con- trary ; and that interest on loans of £20 and under be limited to 10 per cent. The House was in an informal mood, and some of the anecdotes told of the ways of moneylenders were first-class evidence of the need for further legislation. Lord Carson mentioned the case of a clergyman who borrowed £70 during the War, has since paid back that sum three times over, and still owes the original loan on which he is paying interest at the rate of £30 per annum.
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