IMMIGRANT INSTITUTIONS 115 
United States only a few months, in many instances 
found support through the assistance of immigrant 
bankers. Cases are numerous where bankers ex 
hausted their resources and brought about their own 
financial downfall by services of this description. Some 
banks in the small industrial localities loaned as much 
as $20,000 in small sums to unskilled laborers. 
The Unsoundness of Immigrant Banks 
The unsoundness of immigrant banks, and the dan 
ger connected with banking of this character, are ob 
vious. The United States Immigration Commission 
sets forth the evidences of insecurity as follows: 
*• Immigrant banks are usually unauthorized con- 
c erns, privately owned, irresponsibly managed, and 
seldom subject to any efficient supervision or exam 
ination. 
2 - They deal with a class ignorant of banking 
methods, distrustful of American institutions, and 
easily influenced by the immigrant banker. 
3- The affairs of the bank and of the proprietor 
are > as a rule, indistinguishable. As far as legal 
restrictions or the demands of his patrons are con 
cerned, the proprietor is at liberty to use the funds 
°f the bank for his own purposes. 
4- In general, the proprietor’s investments aie the 
only security a ff or d ec i the patrons of his bank, 
^either capital nor reserve is required, and, as a 
mle, neither is found. 
5- Men who operate these banks, particularly saloon- 
eepers, labor agents, grocers, and boarding bosses,