Democratic Sentinel, Volume 18, Number 22, Rensselaer, Jasper County, 15 June 1894 — ITALIAN BANKS IN NEW YORK. [ARTICLE]

ITALIAN BANKS IN NEW YORK.

The Way the Italian Bankers Bob Depositors of Their Money. The Italian banks, of New York, of which there are about 132, are patronized by the most ignorant Italian laborers. The bankers, who are of a little higher grade than the laborers, do a great variety of work, sending money to Italy, writing letters, acting as adviser ana sometimes changing the office into an employment agency. Money is given to a banker by the laborers to be sent to Italy. If he chooses to send it right away, he does; if not—he waits till he gets ready, sometimes never sending it All the customers' letters come to the banker and. as very few of the depositors can read, he reads to them whatever he wishes to. The bankers are expected to work without compensation, and so they swindle the customers to obtain it. If a depositor wishes to go some place he has a banker buy his ticket and is overcharged by that person, who keeps the surplus for himself to pay him for his trouble. During the past eight months fourteen Italian bankers absconded in New York. The reason that so many got out is on account of the hard times. The depositors, being out of work, go to the bank to get their savings, but the banker, having probably been juggling with the money, is unable to meet the demands and is forced to run away. Of course all of the bankers are not dishonest. The fact that $5,000,000 annually passes through their hands shows that the criminal element is not in control.