From the Pages of the Defter (ص 253)

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From the Pages of the Defter (ص 253)

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to be paid back over the following ten years, was to be charged 1,650 kurus interest:
totalling 33 percent.“
According to these rates, then, short-term government-sponsored loans received far
better interest rates than what independent moneylenders charged. However, those
needing large sums and, specifically, time to pay them did not fare better with the banking
institution. They may even have fared worse, since repayment was due in cash, not kind, and
moneylenders familiar with local circumstances were likely more flexible than could be a
local branch of an empire-wide institution governed by rules established in Istanbul.
Additionally, examination of the list of borrowers in these sources suggests that either it was
seemingly exclusively the well-known and well-to-do that applied for these loans, or that
“43 Kark and Oren-Nordheim
these loans were granted only to the well-known and well-to-do.
have suggested that fallahin could not obtain these loans because they did not hold tapu
certificates and, therefore, had no proof of property they could use as collateral.““* The Bayt
Kahil case, together with reports of similar types of group registrations in Transjordan by
Mundy and Saumarez-Smith, disproves this theory, demonstrating that villagers could and
“? Ibid., loan # 1120, 20 Mayis 1328 / 2 June 1912.
“3 By way of comparison, we may consider Amos Nadan’s findings about credit-seeking Palestinian
farmers in the Mandate era. “My own interviewees in Galilee repeatedly claimed that the only viable
option...was to approach moneylenders, who were usually local wholesale merchants. They further
stated that it had been difficult to get loans from banks.” (Nadan (2006): 214).
“4 Ruth Kark and Michal Oren-Nordheim, Jerusalem and Its Environs: Quarters, Neighborhoods, Villages
1800-1948 (Jerusalem: Magnes Press, 2001): 215.
236

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From the Pages of the Defter

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المنشئ

Susynne McElrone

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