Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1884-03-21
MOnts-de-Piete.

AS far back as the first half of the fif-
teenth century, charitable persons in
Italy, touched by the m sfortunes of the
poor, who were obliged to pay sixty and
eighty per cent. to the money-lenders,
formed fund for loaning on valuables
without interest. This was the origin
of the now famous mOnt-de-pie C. re-
rugia, according to some, had the honor
of the first esta u shment. One in Flor
ence, in 1892, met with fierce opposi-
ton. The ateran Council. in 1889.
recognized the usefulness of its opera
tons by solemn approval. In time a
small rat, rarely exceeding five per
cent, came to be charged, to cover the
cost of operation. Paris did not pos
sess mOnt-9e-ptetc until January, LIS.
Three years later it was authorized to
make loan, guaranteed by the hOpital
general, Operations were suspende d
during the Reign of Terror. to lie re-
sumed again in 1903. The administra.
tive council were placed in charge in
1881, while in 1851 a select committee
was created 10 manage matters There
were forty-siX mOntS-Gc-piete through
out the whole of France in 1876. They
are created by decree of the President
of the Republic and the approval of the
local Municipal Council. The funds
for conducting the bus ness are provided
in various ways. The monts-dc-piete
themselves secure the larger portion
through loans on the securities they
hold, the balance comes from Charita-
BILE concerns. 1t would appear that
they meet with no difficulty in this di-
rection, owing to the high credit they
are said to possess. In 1851 the capital
employed in the various French estab-
lishments was nearly $4,000, 900 francs.
of which Par's Absorb ed 1900. OO0
These amounts had grown in 1876 to S.
100000 and 53,000,000 respectively. In
1851 the loans in France were 81 500. 600
francs on 100000 articles deposited
In 1876 over 77,000,000 francs were
loaned to 100000 borrowers; of this
number 2,744,611 redeemed their
pledges. Loans in 1.0}6, 046 cases were
renewed by the payment of interest.
while 10000 pledges were sold The
French law, like the law of New York.
stipulates that VIXEN the article realizes
an amount in excess of the sum loaned.
it shall 60 to the original owner. 1t is
instructive to note that of the owners of
the 100000 pledges $4,000 came for
ward TO claim the balance of the value
OF their property, the amount paid them
Icing in excess of S45, 900 francs. In
1875 the amount OF such money LEFT un
claimed in the montS-de PIE was 3S2,-
321 francs, which formed a large por-
t on of the total profits The full amount
due on unclaimed pledges in 1875 was
AGO, 495 francs. They brought l, 1885,
95l francs beyond that sum when sod
as the law directs.
/ he rate of interest in Paris varies.
In 1854 it was fixed at 4. per cent. per
annum, and has since been as hirh as
1 4 per cent The tariff at present ranges
between the two amounts, the regular
rate being about 3 per cent. Advances
are made for four-fifths of the value on
gold and silver articles and two-thirdS
on others. The traffic in pawn articles
is reduced to minimum through oper-
atoms of the law permitting the owner
OF a pledge 10 order sale three months
a ter the loan was made. In case he
can not redeem the article, he is thus
enabled to realize the difference be.
tween the amount due and the selling
value. The average of leans on pledges
in France rose from IA francs as cen
times in 1851 to ~ francs Al centimes
during 1875.
The average in Paris is about p francs.
As IN New FORK the shortest term of Q
lean 5 one month, tae longest one year
N Y. ECon no Post