Up to now, it is still a puzzle as to who came first the usurer or the borrower. It is probably as puzzling as determining who came first the egg or the chicken.
In the barrio during the yesteryears, there was such a userer or “loan shark”. A widow of about fifty with no children, Aling Goreng was well known but not necessarily admired. Like a dentist to the children, no one would approach this woman unless necessary, or most probably to get a quick loan. In view of her lucrative loaning business, Aling Goring was able o build an imposing residential house sticking out noticeably among the houses made of light materials and perceptively smaller reflective of the low income of the occupants.
Aling Goring and her late husband were able to amass a sizeable fortune by giving loan to farmers and merchants within and outside the barrio where they resided. The arms of the law could not reach them for there were no complaints and concrete evidences to prove the usurious rate of interest on the loans. Much more, even municipal officials and law enforcers would get loans too from this couple with the legal interest or no interest at all.
“I need some cash to buy medicine for our sick child”, requested Aling Salud one day at Aling Goring’s place.
“Here’s the money you want after you sign this note,” mumbled Aling Goring like a broken record.
“But harvest season is barely a month away and you want me to pay you three sacks of palay for a loan of two at today’s rate?” complained the borrower.
“If you don’t agree, you can go somewhere else for the loan”, expressed the loan shark adamantly.
Aling Salud due to pressing need and the difficulty of finding other lender in the barrio, signed the note, took the cash and left in a huff. Aling Salud’s haste to leave was due to the fact that like other farmers wives, she did not want others to know that she got a loan. It could be face-saving, an oriental trait or pride, an occidental inheritance.
Aling Goring, for her part, could be commended for not revealing in any manner the names of her borrowers. The names were kept in code in her secret journal stored in her safe.
Aling Goring was a retired school teacher and therefore could be considered highly educated in the barrio whose main population were farmers and merchants most of whom finished only the first level of schooling, although a few might have reached high school. As a schoolteacher, she was a victim of lenders, and up to the time that she got married. When she retired optionally, all the money she received were placed in the rural bank with very low interest. So, with her husband behind her, she went into the loaning business. Up to the time her husband died in an accident, Aling Goring made well in her loaning enterprise.
“Why do you charge so high rate of interest, Goring?” asked a former co-teacher when the two were having merienda in the spacious veranda of the lender’s house.
“At first, my rate is low but I was hamstrung by late payments, bad debts, poor harvest factors, and hiding debtors”. Aling Goring narrated. “To compensate, I followed the other lenders and I used my good judgment in choosing the borrowers and by good fortune or it was judicious selection, I made more money than the other loan sharks”, she ended.
When the Pacific war erupted, Aling Goring was worried. Firstly, she had large stocks of grains in her warehouse at the back of her residence. And secondly, there were so many rumours all of which were inimical to her house and rice stocks would be looted or her place burned by disgruntled borrowers.
When most of the barrio people evacuated to distant places Aling Goring remained to watch her assets and properties. Apparently, nothing happened. Many of those who evacuated even repented for doing so due to inconvenience in housing, lack of foods, and lack of facilities.
The Occupation period then started. From the grapevine, she heard that the enemy would be confiscating stocks of cereals in excess of home needs. Aling Goring tried to dispose the cereal but no one would buy due to the uncertainty of the time.
One morning, military trucks parked in front of her house. Through an interpreter, Aling Goring’s cereal stock would be purchase by the military government. Since she could not refused, her cereal bin was emptied. She was paid with military notes, which for all purposes was a legal tender and a medium of exchange.
From the receipts of the sale, Aling Goring bought real estate and other properties as many residents became hard up. She was able to buy jewellery and heirlooms from other residents in the town. She totally got out in the loan business although many would still come for quick loans. Most of the old debts were never paid.
When Liberation came, Aling Goring still had a trunk full of war notes.
One day, a man came in a car that stopped in front of Aling Goring house.
“I am Attorney Reyes of Manila, I understand you still have war notes of the Occupation. We can probably have those changed into good currency or even dollars”, articulated this man from the big city.
Sensing that man was sincere, and he looked amiable plus well dressed, she gave the money to this man. The man never came back. Later, she learned that many had been victimized on war notes in similar manner.
“Aling Goring, I cam here for a loan”, implored Mang Kanor one fine morning when the time had normalized and the farmers had resumed their agricultural pursuits.
“I’m sorry Nicanor, I do not lend money anymore, for your information, I am now an instalment dealer of various items like a “ Bombay”. If you need clothing wear, storm lamps, umbrellas, or even equipment for the farm, let me know. These can be payable during the harvest season”, disclosed Aling Goring.
With harvesting now twice or thrice a year, and the increased yield due to information technology, Mang Kanor could only smile to himself to relay the information to his termagant wife who was itching to get a new dress and umbrella.
With most of the people in the barrio having the thinking of Mang Kanor of acquiring many items and merchandise via the instalment plan, the wily usurer in the person Aling Goring would disappear in the barrio picture. In her place would be Senora Goring, the instalment merchant, who would rake in profits much more than her being a crafty and ultimate usurer.