Proceedings: Eighth Biennial Session National Conference of Jewish Charities - Memphis, May 1914: Free Loan Societies

Publication Date: July 1914

Publisher:

Author(s):

Research Area: Banking and finance; Social conditions

Keywords: Social Services; Communal Organization; Finance; Poverty

Type: Other

Coverage: New York United States

Abstract:

Julias Dukas, the president of the Hebrew Free Loan Society of New York, reads a paper concerning the history, work, and success of the free loan system, which loans to both Jews and non-Jews, including a 97% repayment rate. He advises that every city can and ought to set up a free loan society, whose founding requires only ten members and $300 of capital.

The transcript of the discussion of the paper follows. It touches on the question of charging minimal interest that makes the experience more business-like and perhaps more dignified for all involved, as well as the issue of investigating borrowers, and the functioning of similar societies in other cities, such as Chicago and Denver.

In Bulletin of the National Conference of Jewish Charities 1913-1914, Baltimore, Vol.IV:12, ed. Lee F. Frankel.