The British Press; or, Morning Literary Advertiser.
London, England, 1825-03-07 00:00:00

TO THE EDITOR OF THE BRITISH PRESS.
sa,—Permit me through the medium of the British
Pr j f to ofer some observations on the penicious effects of
the Equitable Lome Bank Company, and the evil conse-
quences of such a monopoly in this great metropolis, where
it is of the utmost importance that trade should be con-
ducted upon fair principles of competition, and not en-
grossed by selfish and greedy speculators, who knowing
nothing of trade, or of the system upon which it is conducted,
seek to enrich hemselves at the exeense of those who are
foolish enough to sink their capital in schemes which will
be sure to swallow it up, and in the end leave the share-
holders nothing to hold but the receipts for the instalments
which they have pledged themselves to pay up.
In the first place. Sir, what right have this association of
puLlic pawnbrokers to take to themselves the title of
The Equitable Loan Bank Company," thereby im-
plyinF, that all persons carrying on the business of pawn-
brokers in the city of London, carry it on upon fraudulent
princip!es ? Now the terms upon which money is lent on
pl sli_les is regulated by Act of Parliament, the rate of
profit upon every pledge is fixed, and fixed too with the
utmost care to prevent fraud or exaction of any kind being
rractised upon those whose necessities may compel them to
borrow upon pledges. For this Company, therefore, to con-
fer upon itself the title of " Rowitabk' is a deception on
the public, as well as a base slander upon that elms of per-
sons whose trade they would wish to monopolise; for
when they come into the trade, they Milli carry it on
upon the same terms that it is conducted by every
other pawnbroker; they must lend at the same
rate of interest that we do, for the law has settled
it ; they must make entry of their sales in the same
m inner; give duplicates in the same form ; and sell
Vie unredeemed pledges after the expiration of a year,
on the same terms and under the same regulations
which the Act of Parliament prescribes. What benefit,
then, I should be glad to know, is to be bestowed by these
Joint Stock Pawnbrokers, which is not to he had equally
from any other pawnhrolsak in any street in London? But
white they do not give to the public a single security
against fraud which they have not already, look at the great
security which the public lose, and how the oltject of the
law in protecting the poor against fraud and injustice is
elefeaW. In the first place, the Act of Parliament re-
-quires, under a penalty, that the pawnbroker's Christian
and surname shall be written over his door. How is this
to be complied with by this Company of United Pawn-
brokers, not one of whom will act in person? In respect
to them, it is clear that the law which provides this
security is altcgether useless ; you can only have the Chris-
tian and surname of JACK NOIEN, or Tom &rites, some
It red agent of the Company, who has no further interest
in the concern than to make all the profit he can out of
it—who may be here to-day and gone to-morrow, and
while his name is being painted on the door may decamp
before it is dry.
Then again, if any fraud is practised by injuring or
embeseing the goods pledged, or upon the sale of them,
or in any other manner, what hope of success can the poor
owners have in a prosecution against s Company with
millions of capital at their back ? They can have no fear
of disgrace or exposure, because they have no personal
responsibility. The agents may be shifted from one shop
to another, and though the Company may sue and be sued,
she difficulty of getting proof sufficient to get a verdict
against them when they were sued might be rendered next
a, impossible, while when they came to sue they would
4 Lave every possible advantage.
In short, a Company of this kind is every way injurious.
• All the regulations which the law has made for the protec-
-1 ncn of those whose necessities compel them to resort to
pawnbrokers, are, in effect, done away with.
That the establishment of a " Sale Department" by a
Company having the command of so large a capital as two
4 'Mini, 71.7, must bemost injurious to •tiCTIONT Ea!, isobvious.
They have it in their power to advance money upon pro-
perty, the security of houses and estates, on condition that,
if the MIA advanced is not repaid within a given period,
I such property, whatever it may be, shall be sold by Rue-
i tion, and they will of course come to the Company's ham-
; mer. I might point out many other ways in which this
Loan Bank Company would be productive of serious injury
to the auctioneers of this metropolis; but as the petition
we are about to present to Parliament will be supported
by Counsel, it will be superfluous for me to dwell longer
on the subject. My only desire, in what I hare already
said, has been to draw the public attention to it.
I am, Sir, yours, &c.
AN AUCTIONEER.

THE REFUGEES.
On Fridag last the Coninutuse met at Guildhall. A letter,
dated Washington, 18th January, 1823, from the celebrated l.a
Fayette, was read. It was written in French, the translation of
which is as follows:

" My proscribed fellow-citizens, who are formed into a com-
mittee to assist each other, and who have often received the expres-
sion of my beat wishes, will now, I trust, allow me to profit by the
tint opportunity in which I can add something to the tributes of
friendship which have already reached them. .31y personal friend,
Mr. Rush, will shortly receive 2,000 dollars, which I have requested
tte bank of the United States to transmit to him, to be handed
over to those of my fellow.citizens who are entrusted with the
relief of the proscribed natives of France, and I fully rely upon
the judicious disposal of the amount. I beg of them all to accept
the assurances of my best wishes, and of my best friendship
LA FAYETTE."
This letter is addressed " A Messieurs du Conlin, Francais
pour Its AfFalres des Patrietes Proscrits hors de leur Pais." This
Committee, we believe, consists of Frenchmen residing in this I
country. aided by Englishmen who are friendly to the Liberal
cause. In a subsequent letter it was announced, that the venerable
General mid transmitted 200 dollars for the relief of the Spanish,
and 2to for the Italian Refugees. A subscription of 2701. was
announced from Glasgow ; of 100/. from the Fishmongers' Corn.
pan y, and of 1001. from the Goldsmiths Company. A sum ex-
ceeding 4,000!. has already been expended in supplying the
claimants, and upwards of 300 emigrants are still on the list.
Many have been provided with situations as teachers of languages,
and several have been sent abroad. More might be provided for in
the former way if they had any acquaintance with the English
language. It was determined by the Committee to endeavour to
remedy the defect by the Hamiltonian System, by which a person
engaged to teach them at the rate of 2/. Ss. per head. Letters were
announced from several parts of the country, to which Refugees had
been sent as traders, stating that they had given the greatest satis-
faction. In no one instance had there been a failure or disappoint-
ment in any respect.

Mr. Wright, Aurist to the Duke of Wellington, has
published a Leuer, declaring the statement, that an ah-
scest or cancer was forming in his Grace's ear, to be wholly
unfounded.

Mr. Robert Palmer, of Holme Park, Sonning, is a can-
dulste for the representation of Berkshire, in the room of
Mr. Neville, now Lord Braybroulte. Mr. Hallett has also
announced his intention of becoming a candidate for the
fonrth time.

The name of Colonel Powell, the Member for Cardigan-
shit,, was omitted in the list of the minority on Sir Francis
Burdett's motion on Tuesday last.
The fees upon discharge of Members in custody of the
Serjeant at Ann. are—for a County Member, la 3s. 4d.;
and for a Borough, 71. 6s. t3d., besides travelling expenses.
In an article evidently of foreign origin and composition,
it is stated, that " on the occasion of the Coronation, there
sill be, conformably with the ancient custom of the French
liitiarchy, a creation of Peers; and, from what we hear,
the selection that will be made will shew that Charles X.
has been wholly uninfluenced by party considerations. In
esery class of society, and in every description of merit,
those individuals will be sought who form the natural and
appropriate aristocracy of a country."
Lurnaa.—Luther s person was so imposing, that an
assassin, who bad gained admittance to his chamber to
pistol him, declared that he was so terrified at the dignity
and sternness of his manner, and at the vivacity and pene-
t•stion which sparkled in his eyes, that he was impelled to
desist from his horrid purpose.
In the case of Sonnet against Powell and others, which
was tried on Friday in the Court of King's Bench, a ver-
dict was eject for the plaintiff—Damages 24,000/. ; the
Lord Chief Justice having observed that the plaintiff' had a
right to recover much more than the 1,900!., the loss upon
the wool, by the actual sale which had taken place, as the
defendants had not used due vicilance in disposing of their
consignment to the greatest acvants;e for the interest of
their correspondents.
On Thursday last was launched from Messrs. Gordon's
Dock-yard, Deptford, a fine ship of 700 tons, built in a
very superior manner for the East India Trade. She was
named the Malcolm, and went off in great style about
noon, amid the cheers of the surrounding spectators.