CodalSearch this book — or all of Codal…⌘K
nydus/The History of the Great American FortunesPublic
Page 68 of 339
Table of Contents

CHAPTER V

public charges. These laws were systematically and successfully evaded; poor immigrants were dumped unceremoniously at obscure places along the coast from whence they had to make their way, carrying their baggage and beds, to the cities the best that they could. Cadwallader D. Colden, mayor of New York for some years, tells, in his reports, of harrowing cases of death after death resulting from exposure due to this horrible form of exploitation.

Now when the immigrant or native found himself in a state of near, or complete, destitution and resorted to the pawnbrokers's or to theft, what happened? The law restricted pawnbrokers from charging more than seven per cent on amounts more than $25, but on amounts below that they were allowed to charge twenty-five per cent. which, as the wage value of money then went, was oppressively high. Of course, the poor with their cheap possessions seldom owned anything on which they could get more than $25; consequently they were the victims of the most grinding legalized usury. Occasionally some legislative committee recognized, although in a dim and unanalytic way, this onerous discrimination of law against the

68