As the Negroes had no chance to learn business methods during the days of slavery, they fell a prey to a class of loan sharks, harpies and vampires, who established stores everywhere to extort from these ignorant tenants by the mischievous credit system their whole income before their crops could be gathered.[10] Some planters who sympathized with the Negroes brought forward the scheme of protecting them by advancing certain necessities at more reasonable prices.

As the planter himself, however, was subject to usury, the scheme did not give much relief.

The Negroes' crop, therefore, when gathered went either to the merchant or to the planter to pay the rent; for the merchant's supplies were secured by a mortgage on the tenant's personal property and a pledge of the growing crop.

This often prevented Negro laborers in the employ of black tenants from getting their wages at the end of the year, for, although the laborer had also a lien on the growing crop, the merchant and the planter usually had theirs recorded first and secured thereby the support of the law to force the payment of their claims.

The Negro tenant then began the year with three mortgages, covering all he owned, his labor for the coming year and all he expected to acquire during that twelvemonth.