John Machale, Archbishop of Tuam; His Life, Times and Correspondence Volume 1 - Bernard O'Reilly

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 edition. Excerpt: ..."Some one will say, that those who borrow money on such terms are bound to fulfil their agreement. So did Shylock lend to the Merchant of Venice. And no Shylock ever demanded his pound of flesh more persistently than do the banks of Ireland. "I mention no establishments in particular; I scorn to point at individuals. But the system I reprobate as abominable. When these money-lenders come to reckon up their interest, do they stop at six, or ten, or twenty percent? No! They aim at possessing themselves of the borrower's conscience. "Is this Christian-like? No, assuredly. "Let, then, the bankers be content with their legal six percent. "If, instead, they throw out at election time their feelers to ascertain at what vulnerable point they can assail the electors, and prevent these from doing their duty, then they may awaken such resistance and retaliation as may bring the offenders to their senses.. "I am not so familiar with business methods, as to be able to say whether or not a banking establishment is an advantage to a community. Of this you are the best judges. But I come from a town in the northern part of Mayo, where a bank brought ruin, bankruptcy, and poverty upon many a fair and honorable trader; where it enabled the landlords for three and four and five years to squeeze rackrents from their tenantry, the screwing powers of the bank being the engine employed in this process. "For my own part, unless upon some great public occasion, which may demand the sacrifice of my personal feelings, --I never1 will consent to put my name on stamped paper for banking purposes. I shall rather reduce mv establishment than encourage a system leading to ruinous extravagance. I look upon banks as places which people should...