The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-07-01

operation in many others; in some with
considerable restrictions, in others, like our
own, with but few. There are even in some
countries where what we might term the
American system exists, an institution which,
while affording all the advantages Of the old
pawnbroking system, is free from any of its
defects. A person is in want Of money; he
has say an old piece Of family plate; he does
not want to part with it from old reoollec
tion's sake; he can obtain money on this plate
without mourning any risk as to its future
redemption; that is to say, he can receive
nearly its full value. He is only required to
pay what might be oonsidered nominal rate
of interest; and in some countries he is al
lowed to redeem it by the payment of
various instalments, as low as one franc at a
time under the French system, or he can
always renew it for another year. Conse-
quently there is no danger of its being sold,
if he can raise only a little at time towards
its ultimate redemption. The system was
adopted originally to loan money to the poor
at a rate of interest only sufficient to pay
current expenses. The visit of the Chinese
Ambassadors at the present time reminds us
that according to popular tradition, China de.
serves the honor of having been the first coun-
try to inaugurate this system. The origin of
it is commonly ascribed to Italy. We know
that it has been in operation there for some
time. Many people who every day wonder at
the pawnbroker's symbol of the three balls,
are perhaps not aware that it formed part of
the coat of arms of the celebrated Medoi fam
lily. We will leave to antiquarians the plea
sure Of hunting up the origin of the adoption
by that family of so curious an emblem.
Although it is always pleasure for us to go
over "Notes and Queries" yet we have not
time at present. We therefore indicate the
source from which such information can be
gained, and leave the further pursuit at pre-
sent to others.
The "Mont de Pi6t6,' as the institution is
called, exists besides Italy in Russia, Holland,
Belgium, and in the principal cities of Germany.
At the principal institutions in Paris the loans
are made upon securities, the value of which
is assessed by twelve appraisers. Although
this, like similar offices elsewhere, were origi-
nally established for the benefit of the poor,
yet the most profitable customers of late years
have been the rich; nearly 100000 out OF
LOO, 900 articles deposited annually consist
ing of jewelry and articles of luxury, the value
of which forms three-quarters of the amount
advanced. There are about fifty Monts de Pi6t6
in France, about one hundred in Holland, and
twenty in Belgium. The Paris organic alton
to which we again refer as being ON larger
scale probably than any other, is under the
charge of an administrative council, the Presi-
dent of which is usually the Prefeot of
the Department of the Seine-they are
now under the superintendence of Select
Committee; within the last few years, how
ever, they have been more extensively used
by the poor. Our readers will doubtless re-
member the statement made lately of the
ransom, on a large scale, by Louis Napo-
leon, of articles deposited in the Paris branch,
in consequence of the hard times in Paris.
! 1t is somewhat remarkable that this institu-
tion has never yet been introduced into Anglo
Saxon communities. 1t does not exist in
Great Britain or in her colonies, nor in the
United States Is it not adapted for the social
l. life of these countries