HC Deb 30 June 1913 vol 54 cc1488-9
67. Mr. LEACH

asked the Home Secretary if, in view of the fact that the Act of Parliament regulating the rate of interest chargeable by pawnbrokers provides that such interest shall not exceed 25 per cent per annum, his attention has been called to figures showing that in the majority of cases of loans to the working classes the interest varies from 500 per cent. to 1,000 per cent. per annum; and that on an average the interest works out at over 200 per cent, per annum; and whether he will appoint a Select Committee of Inquiry or cause investigations to be made into the working of the Pawnbroking Act?


My right hon. Friend has asked me to reply to this question. My attention had not been previously called to the matter, and the records of my Department contain no information with regard to it. My hon. Friend has sent me an extract from a newspaper, from which the figures in the question are apparently taken, but I should be glad if he could furnish me with the evidence on which the article is based