The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1873-10-25
The "Mont de Piete.v

4
The Paris correspondent of the Balti-
more american writes the following inter-
estin9 account of the famous Mont de
Piete, or municipal pawnbroker establish
ment of that city:
| This is one of the most important and
| extensive establishments connected with
| the city government of Paris. 1t is a mu-
| nieipal pawnbroker establishment for the
relief and protection of the poor, and, Irl-
deed, of all classes who may by either
poverty or misfortune be compelled to
borrow money ON their personal effects.
| That the extent of this establishment may
be understood, it is only necessary TO state
that it has two principal Office in opposite
sections Of the city, twenty auxiliary offi-
ces in different wards or ACCOMPLISHMENTS,
and has three hundred officers connected
with it. The average number of articles
pledged are three thousand, but no pledges
are received from any one unless they are
known to be householders, or produce
passport or papers en- regte, showing who
they are, and that the property they offer
is their own. The privilege of loaning
money on deposits is enjoyed exclusively
by this establishment, hence thieves have
but little opportunity of disposing OF their
plumber. Out of two millions OF articles
DtI tllC
delivered to the police on suspicion of
theft is 391, representing loans to the
amount of $500 francs. Thus this estab-
lishment, instead of encouraging theft,
leads to detection, punishment, and the
restoration of stolen goods.
The Mont de Pete is under the authorl-
ty of the Minister of the Interior and the
Project of the Seine, and is managed
bya Director, appointed by the former. 1t
has council, or board of managers, con-
sisting of three members of the city coun-
Gil, three citizens of Paris and three MEM
bers of the council of public assistance.
The number of officers employed in its
management is over three hundred, and
they are kept busy for twelve or fourteen
hours per day. Everything that is brought
to be pledged is carefully appraised, and
theamount loaned is four-fifths of the value
of gold and silver articles, and two-thirds
of the value of other effects, provided no
loan at the two central offices exceed TO-,
600 francs, and at the branch establish
ments 500 francs. From this it will be
seen it is not used entirely by the ex-
trenely poor, but all classes at times avail
themselves of its advantages to enable
them to ride over temporary difficulties.
The establishment is conducted with
DOIIOAtu QI4 It's ONil CICNlIUs 1OI
which it generally pays pei. cent, and it
requires capital of about 80, 000, 900 francs,
for the use of which it pays about 4 per
cent. The interest to the public upon
pledges used to be about u per cent, but
it is now reduced to 8 per cent, or one-half
per cent. fortifteen days, being the shortest
term for which it can be lent after the
lapse of the first month, the interest of
which must be paid entire even if the loan
last but a few days. The pledges of the
previous day are brought every morning
to the central establishments or the two
store-houses, and it would be difficult to |
find III the whole of Paris a scene of more |
stirring business activity. The system |
with which the whole business is managed |
is wonderful, there being one department I
where borrowers are enabled to refund by |
the sums adyanced-even one |
franc is received.
Whilst the work of redeeming pledges
Is constantly in progress in one part of I
he establishment, another is crowded I
With men, women and children with bum
Hes to offer for small advances, Which con-
inues from nine O'Clock in the morning
Until four O'Clock IN the afternoon. In
mother section auction is daily held for
he sale of forfeited pledges, which have
lot been redeemed within the time speei-
led. After a year, or rather fourteen
months, the effects, if the duplicate be not
enewed by paying the interest due upon
hem, are thus sold, and the auction room
$ a scene for a painter. Here all the old
lothes establishments in the city are rep
and at times the bidding is very
lively, nothing being sold and no bids re
eived for a less sum than the amount adj
aneed. Ii the article brings more than
ne amount advanced, and the charges
pon it, the surplus is paid tothe Dor
over on application within three years
rom the date of the duplicate, after
Which the surplus is given to the Poor
The appraisers are held
)intIy responsible for the value set upon
ne articles. After paying all the expenses
its management there was balance last !
ear Of 100000 francs in favor of the Mont
e Piete. Whata grand opportunity this j
would be for the operation ]
the Baltimore rings? ?" John Jones i
rould be allowed to pawn his plate ware {
n silver and gold, and Peter Smith his /
IMITATION diamonds for the genuine article. /