Ashtabula telegraph. (Ashtabula, Ohio) 1874-1880, 1875-01-08
OUR NEW YORK LETTER.
A Peculiar Trade-The Pawnbroker-
How He Does it-WhO His Custom
ers are, and All About Him-Busi-
ness PrOspects--Beecher-Ttlton-
RuIIding I'm Brooklyn.
rHE pAMNRRoKER.


Pawnbrokerage can only exist in great
cries, fer only in great cities does the
poverty and misery exist that makes II
necessity. The mechanic who is behind
with his rent in big city is compelled TO
raise the money at once or be showed IN
to the street. He has no friends to help
bim-no one to stretch out hand to save
hIm-he has himself only to depend upon,
and he must pay or suffer the consequent
ccs. He does not know his landlord.
That individual probably occupies pal
aiial residence up town, and his agent IS
instructed 10 collect. and he does collect
or the miserable rooms are vacated for
some one OF whom collection is possible.
Therefore, when work is scarce, or sick
ness eats up the wages, or drink
does the same thing, the only resource is
the pawnbroker.
The pawnbroker is simply a banker
who lends money and takes personal
property for security instead of endorsed
paper. Ee operates under law. He is
compelled 10 keep pledges safely for
period of twelve months. He cannot
charge to exceed two per cent month,
and redemption may be made by paying
the sum advanced, and interest, at any
time during that period. This much the
State does to protect the borrower against
the lender.
THE PROFITS
of the pawnbroker depend entirely upon
his sharpness and his knowledge of tie
value of goods, and the necessities OF
those who come to him. He is never de-
ceived IN the value of an article offered
as a pledge, nor does he ever advance too
much on it. Is it watch There IS not
jeweIer in the world who can so quickly
estimate its value. A glance is all that is
necessary. He knows at once the condi-
ton, the cost, and. what is of more i'm
portance TO him, the selling quality. In
brief, he knows to a cent how much il
will bring under the hammer when 1t
comes to that, and his knowledge is equal
ly accurate in everything. From a diamond
TO a fiat-iron, or calico dress, he is as
quick as lightning and absolutely infalli-
able.
WHO ARE THE PAwNBRoKERs
Mostly Israelites, though there are plen-
iy of other nationalities engaged in the
business. But the Israelites make up the
majority. Their peculiar shrewdness and
quickness eminently qualify them for
business which above all others requires
these two qualities.
WHO ARE THE CUSTOMERS
Well, everybody-that is everybody
who is poverty stricken. Surgeons, young
ones who have not got into practice, and
who are compelled to pay board till they
get something TO do, pawn first their
clothes, then their beloved Instruments
Actors and singers live precariOus, un-
certain lives, and they are good custom
ers for the pawnbrokers. Mechanics are
largely on their books, and the state OF
trade is shown more accurately by the
number of mechanics who throng the
doors of the pawnbrokers than by any 9TH
er indication 1 know OF. The moment the
mechanic is out of work distress comes
10 his door. He has no accumulation to
carry him through the rainy day, and he
must live. In he goes with. his best coat,
then his best vest. then his best panta-
looms. Ills wife follows suit with her
silk gown and her good shawl. Then his
tools. which, alas! he can't use, go next
First his fine tools, those he uses least,
then his saw, planes and hammer. If the
strike or dull time lasts long enough, the
cooking utensils and bedding follow the
tools.
THE THIEVES