The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1886-09-15
4 pAwNsHop OF THE NATION.
Parisians and Their Mont dc Piefe-
How tlae Business Is Managed

HOW the Business Is Managed.
In the center of busy commercial quar-
Ter of Paris--in the Rue des Blancs MAN.
teaux-is large five-story building with its
windows securely barred and wired, as II
something precious were contained within,
with the ever prominent words Liberty,
Equality, Fraternity y carved on its walls,
and over the doorway of which, just under
the tricolor, may be read in large gold
lettering Mont de Piete.n Several re.
publican guards walk about the two large
courts within, and there are other signs OF
ofiicialism, and that the building in ques-
ton is national property. 1t is, indeed,
the headquarters of the national pawnshop.
With us, when an unexpected crisis in ones
financial affairs leads him to temporarily
get rid Of some of his personal property, he
alphabetically tells his friends that he has
been to his ''uncle's." A Frenchman in
similar straits visits his aunt, whose real
name throughout France is the Mont de
piete. There are no odious associations
about this national institution such as have
become connected with some establishments
conducted by private pawnbrokers. 4
Frcnehman will not stink away sneakingly
10 his aunt, y but, when necessity requires
IL, will visit her fearlessly and openly as he
would the Escompte de Paris or the Credit
lsyonnais- The Mont de Pete is indeed q
hank, without capital and without dividend
From the budget of the Paris institution
tor 1877, which the Director, NJ. Edmond
nuval, has Just placed iu the hands of the
Municipal Council, an idea may be obtain
II of the amount Of business done ut this
bank II piety, The estimated income is
lpas az ", sla, 62a francs about GO, 1872, 1874
asld As the accounts are suppose to do
l,sie more than balance, the expenditure is
placed AZ several thousand pounds less A
decrease in the business done during the
Year is attributed to the fact that many
people of all professions have been com.
PEELED to leave the city owing to the depres
sion of trade. Connected with the prin.
cipal Mont de Piete there are twenty aux
iliary bureaus throughout the town and il
is perhaps about the only institution in
Paris which is open all the year round, fete
days included. The director of the concern
is appointed by the Minister of the Interior,
and the administration is under the direct
ion of the Project of the Seine Eight per
cent. is charged as interest ON the articles
pledged. This charge is unquestionably
high, but the expenses it has to meet are
considerable. In irregular pawn shops the
percentage charged sometimes reaches so
per cent. The administration of the Mont
de Piete contemplate reducing their rate
The money thus acquired goes to pay all
the expenses Of management, the erection
and maintenance of buildings, etc. At the
end of year or fifteen months if the
pledger docs not respond to commune
cation he receives from the Mont, and re-
new his pledge or take out his property, it
is sold Within the general administration
of Che Mont de Pete there is an army of
officials called the . commissaires priseursn
who value the property pledged. During
last year there were ,563 sales of unclaimed
property, which realized 2l7 1887 francs.
The eommissaires priseurs look after these
sales, and their charge is 3 per cent The
director complains that the charges of these
commissaires are excessive, aud threatens
reform. Should the property sold bring
more than it was originally valued at, the
owner gets the difference, but he does not
lose through depreciation of value. Articles
may be renewed ad infnitum. At the i'm.
mence storehouse in the Rue des Blans
there are articles that have been renewed
for over forty years. One antiquatod UNI
brella has been there since 1928, during
which time its value has been paid four or
five times over in interest As o different
colored ticket is given each time q pledge
is renewed, the umbrella has long since ex-
hausted all the colors of the rainbow, and
on the last occasion when the ticket was
presented for renewal, the Mont de Piete
made present of the venerable umbrella
to the proprietor. After oil the expenses Of
the Mont de Piete have been met, the bal
ance, if any, goes to the public assistance
the relief of the poor. There are between
forty and fifty Monts de Piete in France,
and all managed ON the same principle, and
are under the care of the municipal coun-
ellis. The Paris house wish to have CAPT
tai fund, but the government will not allow
it. The town of Lille is the only town
which has fund (the result Of private
donations) for its pawnshop, and charges
no interest for articles less than thirty francs
value. Outside the national institution
pawnbroldng is prohibited in France.
Tho faxrnubo,, To IN o,osart spof,&,,t;n,.
As early as 1888 one was established in
Ledge In the year 1862 several establish
ments called Mont di Pieta were started in
Italy, under the care and protection of the
church, in opposition TO usury practices
All the early Monts de Pete were connected
with churches or hospitals, and were a
species of charitable banks which charged
no interest. The Mont de Pete was long
of being established in France, chiefly ow.
ing to the opposition of III. de Ia Reynie,
chief of the police in Paris. Numerous
projects were put forward during the six.
tenth and seventeenth centuries, but they
fell, through, though Colbert, and Other
prominent statesmen favored them. In
1902 the Council of Finance declared that
it would be TO the glory of God, the SER
vice of the State and the public interest,"
were Monts de Pete established, Necker
took tho same view, and protested against
she conduct of those who practiced on the
,upidity of tho public and successfully
deeced them. II was not until December,
i777, that Louis XIV. sanctioned the Mont
de Piete. Soon after this the first was
opened at Paris. 1t was under the charge
Of the Chief of Police and four admins
traitors of the general hospital. The rate of
interest charged was 81 and IL per cent.
The concern was tremendous success. In
the year 1888 there were 100000 different
articles pawned. At the time of the revolu-
ton the Mont de Piete was suppressed, ON
the ground that it was monopoly, and
Immediately the Jews and the I.ombards
stepped in and carried on fourishing
business. The republic, considering the
condition Of things Z intolerable,n re-estab-
lished the Mont de Piete after FIVE years.
opI with oltrxi,t el,ax.<xnn ,,.e.,. -.