Formerly it was not an uncommon thing for a landlord to offer his tenants a reduction, say, of twenty per cent., on condition of their paying the rent when it fell due.

Such were the relations then between landlord and tenants, and so little was punctuality expected in such payments that this might be regarded as a sort of discount arrangement.

The tenant who wished to avail himself of such an offer would go to some friendly local usurer and ask for a loan that he might avail himself of it.

"One of these usurers, whom I knew very well," said the manager, "told me long ago that he found these operations very profitable.

His method of procedure was to agree to advance the rent to the tenant at ten per cent., payable at a near and certain date.