THE PATAN MONEY-LENDER
THE sight of money-lenders should arouse great distress and poignance in the minds of honest folk anywhere. One cannot for a moment believe that a money-lender is a merciful person, irrespective of sex, caste and virtue. Money- lenders of India are of several types : but two of them are very prominent. One is a Marwari and the other a Patan. These two though they advance money, still their ways and means are entirely different. The main point of similarity is that they are prepared to advance loans on usurious rates of interest only. Marwari will not lend you even a copper coin if you cannot deposit as security gold, silver and other valuables or clothes and vessels of brass, whether new or old. It is only on security that he advances loans.
Unlike is the history of a Patan money-lender. Whatever the position or status of a money-need person, the Patan money-lender is prepared to advance him any money, either because he holds an appointment in Government or that he is introduced by a known client. Patans do not expect any collateral security while they advance you loan. In fact the main theme of a Patan money-lender is entire trust and goodwill. Patans are a set of religious and devout folk. They are punctual to Mosques and pray for their well- being. Usury is not admitted according to their faith. In this they adhere to a brother Mahomedan. They will not therefore loan money to his brother Moslem. Here is their religion. This strong and sturdy race of Patans are a source of fear to weaklings, being warlike in their nature. Most of these men living here are bachelors. It is said that they cannot marry till they become rich. Generally Hindu debtors are more afraid of these few ; much more a Brahman debtor. In fact debtors to a Patan would be quite willing to pay off the interest punctually, but never to their own Hindu creditor. The chief fear is that the Patan would punish him ; nay, there is a great fear that these money-lenders trouble the ladies of debtors in their homes and while in the abience of the debtors. Here, might is the right that prevails. Instattces of such maltreatment may be rare but not very rare. There may perhaps be cases for an inquiring mind.
Patan money-lenders advance money to the extent you require, but that they deduct a month's interest in advance out of the principal lent out. Two distinct types of transac- tions are in vogue. First is that the money-lender advances you money and deducts purely a month's interest on the execution of pro-note. The second is that the money-lender advances money only on your executing pro-note for higher sum, either double, treble or quadruple times of actual advance. In every case, the interest is a per cent. per mensem and never per cent. per annum.
It is surprising to note that the rate of interest not only differs to the value of money advanced but varies from person to person—from an anna to four annas per rupee or more per month. If a Patan charges you only an anna, better you think, that the Patan is one of the most kind men. The interest so agreed upon should be paid before the fifth of every month, and even if the money is advanced during the middle or latter part of the month the interest is calculated for that month as a whole. The interest that is paid will never be noted on the pro-note. No voucher will be given to you for the payment of interest. It is all belief and trust. This is the tragic portion in the life of a debtor. So long as you are straightforward and honest there is no need to be afraid of a Patan money-lender;.
You You now enter the manjil of a Patan. You are received with utmost respect, and while you are under his dangerous shade you will see that you are seated on soft bed, reclining your back on cushion along the wall. The floor of the room is spread with bed, and back-resting portion of the wall lined with cushions. You will notice on the walls whips of long lengths, short swords in their sheaths and stout sticks leathered at ends, hanging loose. The Chief is seated majestically at the safe to advance you money, and before him you. go and sit. Patan and you are not alone in the room. You will see many others, who are his assistants to collect the money from the clients by all possible methods. They will with eager eyes be staring at you. You now tell the Patan your wish and the arrangement is agreed. The Patan takes out of his iron safe his On-Demand Pro-note book and places it before you to fill up the form. When you come to writing space "at . . ." he will ask you to stop.
• You are not to fill in anything there. While the On-Demand Pro-note is written up you should not write the rate of interest, though agreed. The percentage is only verbal agreement. So long as the understanding is faithfully carried out, no trouble indeed. But should there be slackness in the, payment of interest, woe to the debtor. You have signed the bond. The Patan opens his safe and rolls the rupees on the bed. Don't hesitate, please. He has already deducted the interest for a month. You take the money and leave the place with his best wishes. Before you leave him, he sounds you a note of warning that you should be true to the undeotanding. Beware therefore, for you are entrapped !
You have taken the money. It is certain that you are not safe anyway till- you clear the loan and be done with him. The Patan and his assistants would not care to see you at all so long you are regular in the payment of interest. In fact though they meet you anywhere they would go away unobserved. They do not even show to others that you are a debtor to them. Once you fall to arrears, you will be chased wherever you go. It never is impossible for them to track a debtor. Any of them will be on his cycle with his leathered cane, before your own home, in front of your office and along your track. You cannot escape. He is like the "Invisible Man" everywhere. Patan is anyway a good man if you should only approach him and plead your temporary inability instead of perfect evasion.
In this way Patan money-lenders that have come from far-off homes with a handfyl of money have been amassing wealth and day by day becoming richer and richer. I have studied their methods personally. My friends that have been entangled with them have given expression to their experience. I could write a volume in detail, but space is in my way. I have seen my friend keep a few rupees quite ready on the second day of every month to pay to his Patan. He would not like to meet his Patan in his home, but would wait on his walk to pay his bloody interest.* On seeing the distant approach of the Patan, he would hold ready the money in his hand and approach the Patan so close to merely pass on the interest to the thirsty-extended-palm. Yes, the money fell in the palm. The Patan is going away with the interest unobserved. Everything in a few seconds. The debtor is free from anxiety and terror for one month more !
* i.e." blood-money."—En:-The Spectator.
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