New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-08-14

and Commodity Of Mount Pisgctes, or Pubic BsnAs,
for Relief OF the Poor others IN Distress upon
"Pswns.y Although many Illegal pawn offices Ell
i.ted in Greet Britain during the eighteenth century,
!. was not Until ls3s that company vas incorporated
in London called the British Pledge Society; and il
was at about the same period that Ao"t &c ft'e
was established in Moscow, the profits Of which were
aiterward made 20 supper. founding hospia. a
Mr.. Darlington Of Liverpool took quite an active par
in the Establishment of Mont dc Pta troughout the
United Kingdom; and a. these were Institutions OF
private charity, their influence was found 10 be very
beneficial on the working-classes.
The first legally authorized pawnbroker IN New
York wss John NJ. Davis, who kept small shop,
No. % Chathsm-st. Emigration then furnished rs
with the Simpson family, who arriving in the country
from Ireland opened several loan offices Of this do
scr;ption in the city two OF which still continue IN
operation. The business proving TO be a lucrative
one enlisted the attention OF considerable portion OF
our Jewish population, until al length they increased
so rapidly in numbers and the complaints arsans
from their dishonest practices were so n-nerous ma
the Common Council found il necessary to pass spe-
cal ordinance relative 10 the business Of pssuoroke
On the 18th Of May 1889, the following act went into
effect:
sEorloyl The Mayor of the said city may. from TINE %
time licenses under his hand ,na sea- 70 sen Ss
shall prodace TO him ssti.fsctoy evidence o. me- s
exercise on the bushes q 81 ,..
for the sum Of my dollars for the use Of the city
SEc Every person licensed shs a. the anne o. 70
s;v;rr such license with saficien, scre,ies. MO
opt ard several recogn1snce the Mayor Aiernen snt
Commcnsiy of the City Of New-fors ~ INC peneT ~
hr1-ss dollars condtione for the due observance OF AL uco
OF the Common Council may be passei OF IN ofoe
respecting pswnbrOkers, al any time dnns the con- u
Every paxnbroker shall keep book which shal
be y written Il tho time account
and Of the goods, article or thing pe"hcu
Of money loaned ssrsS9 the %s o. psa, s es
and residence o the person pa~nns Or psdss me SAD s
SIC Evesy pswnbroker shall the time of each oan de-
liver 10 the person pawnDg pecgDs sood sco OF
sns az bs ep required q be made in bis
book by the last preceding seetou ara no ena'ss 49, -
The hook sha AZ all reasonable times BE- epeu
the inspection Of Mayor, Recorder Aldermen AssAns
and Special Justices or preserving the peace OF tee ey
any or sas 81 or ht purpose 81 any OF either
OF them and who shall exhibit sach written authority 70 'uen
SEC Every pawnbroker who shall violate neglect OF
refuse to comply with any either Of the provisions Of ne
ofeu,e forfeit ana pay the OF twenty i've dollars
SEC s. No pawnbToksr shall ask demand or receive sny
greater rate Of than twenty-five per cent per snnu
upon Ar exceeding the sum OF twenty-five aoes
hs1 PER a under the peuty Of one
dollars for every such otense , -. =,
the same remained year in his or Der possession
al such shall be .. public 'nson and nc,
be approved OF for that purpose BY the Mayor Oh inc cry
SIC To- Notice Of every such shall be published ior y
days previous thereto N ops Or more o. me
b nscify the time and race which such sale 70 10 sse
Mace the name Of the auconeer by whom me same no
Conducted aud description of the goods or articles 10 be sold
SEC it, The surplus money, If any arising from any s1c6
sale after dducns the amount OF the loan ne interest 'oe
e sb be pai over by the pAwnbroke the who
would entitled redeem the pledge IN case no 'a'h sale nad
~ No pswnbrols shall make any the separate
divided part q ' ,S ay. bee been oaped entire collect
,y him or her BY way Of pawn OF pledge
stS 10 no S, .py midland furniture metals clothes
or any article thing whatever offered 10 hm OF nsi
SCI NJ Every pawnbroker who shall violate neglect
comply with any or either Of The cau me
dis title shall every such oene forfeit and paJ me sum OIL
one hundred dollars.
There are at the present time fortyhree licensed
pawubrokers transacting business in this City, and
from the information we have obtained Il would ap-
pear that there are but two out of that number who
do not seek TO extend their business by dishonest prac-
tees. Thus it has been found that they practice
system of extotion regards interest on The money
loaned so THAT in the place of % per cent allowed
by law the average amount OF interest nom % 10 oo
per cent. In addition to this. they sell without cd
vertising and in private manner, and when the Hti
ces chance to be of valuable kind they are bought
in at merely n0mnai sum ana sou aBaih ae az au
vance which frequently exceeds 200 per cent Innu-
merable complaints of this kind have been made 10
Mayor Wood and filed by his direction with the Dis
trict Attorney but up TO this time nothing has been
done in the premises.
The majority Of those engaged in this lucrative and
not particularly reputable business are German or
Irish Jews; in fact there Is but American pawn
broker in the City. The advances made upon the
various articles will rarely average more than IS per
cent of the original cost indeed, onehal that amount
will be found TO be the mark in most instances
Each ticket as issued will average five articles, and
the two hundred daily given out by one establishment
will generally cause an outlay of about two hundred
dollars, thus averaging one dollar per ticket And
when is remembered that this estimate includes The
vast amount Of watches, rings and valuable trinkets
daily sacrificed to meet the numerous exigences OF the
poor and fiendless il viii readily be understood how
vast are the gains of year in single estabbsh
ment
There is no means by which the various gadstcns
of poverty be so readily discovered as by an eI.
animation of the tickets of some family which has
been reduced TO a systematic course Of pswnng. We
find them commencing with some superhuous articles
of ewelry or wardrobe and when these exhausted
sacrificing those necessares the absence VI which it y
believed will be the least observed by their neghbofs
or acquaptances. This species Of vanity is the lat 20
forsake these unfortunates They will prefer TO leave
themselves without undercotbes in the most severe
seasons that they may retain some much priced Gt-
Gle of outward apparel. They can bear the cold and
the exposure without repining but they cannot bear
that those around them should become eognizant Of