New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-04-12

standard Of capital In New today as does not
ind Us returns from usage IN Wal SeOs hSoter OF
loan Offices Rome at one time was the scat OF usuIS
and was there t the most married. eiDr nn Se asked
what he thought OF usury replied In way that nova
days would have been called lankeesh by asHhs uie
| question, What do you think OF murder - A..
Rome and Greece became united In the Mldule Ages
IN stamping usury out Of existence. ihen a. uno
Of the Church 70 hold usary up to universal detestaon
This stand OF the Christians threw the business 90
was carried Into England These lenders settled In
London and their settlement was called LoTDaTdy
London and "a visit to Lombardst." is SYNONYMOUS
win visit to the pawnshops The exaSonS o. tt
them in England and in the year 1890 they were ex,
PEELED from the kingdom under circumstances Oh EIe1,
that they dared to return There was no dearth OF
money lenders, however during the expulsion Oh ue
business OF lending money on interest and nave coi
tinued In 1t.
WHERE THEY CAME FROM.
The name Of Lombardy." given to the settlement
Of money lenders in London, came from the fact t'V
most Of the lenders merchants from the sAue
of Lombardy In Italy, where the business Of money
lending seems first to have been organized in syste
matte way This must have been as early as the
twelfth century for such history as is available nai
Gates that the system practsed In the city OF o.
Padna al least before the thirteenth century Legend
saws that the lending OF none upon couaUcpl A.
cgy was originated by ,S a %Se in behalf Of his
Church but It Also attributes TO another frar Francisco
ycrebo tho agitation against e the lenders
usurers. vampires grinders OF INC poor u N
bers Of the widows and called ugn Merchants 1s banded
together and formed an ASSOCIATION ioT enu ni long
to the Poor without p Sesv Or does moi reveal
1t was the famous Mediei family OF Iap Va VIII,
Pope Leo was member that nrS bs fomIv rpngcd
among the first OF the FlOrentine kepuDc anu ge Us
possessed Of vast wealth and influence o was t So' So
FAR as known the operations OF the system were e
beneacent only the lowest possible rate Oh ~ thc
poor to redeem their pledges The family were ali all
liberal patrons Of art and literature ana Mere
OF the great Roman gallery bearing ther naae. ~
was Pope Leo who founded the Mons fietatlS, or
"Lombard Houses in Rome, where money c %nI be
given The Medic family was one Of the savants ana
doctors, and for coat of arms adopted nid al
fnrm When tlc Mons Pictats7 were opened IN
Florence and Tuscany under Pope Leo asc she oSy
oSy be three e. pills were glded and up TO the present
day the three glded balls furnish the sigh or V0 p
''' WHERE THEY ALL AGREE.
While the system is all bad, since 1t Expresses Io
poor, by exac.ing ruinOus interest on loans =
not 10 be supposed that one pawnDroAers esaoi,si.
ment is as cruel another, but they are al aiAo
I'm the one respect Of lending as little as they eau
on an article and getting as much back as tnos
can The annual sales Of unredeemed artcles urn
in a handsome profit because oil the uihes s'''" vi
pe " of the sons of Robert simpson the Oldest o.
the SIMPSON pawnbr0king family, kindly expHhin nd
20 tnc M'iF no Ia Bowcry lie was in his de-
fence of the system as practlsed IN thas esained
lie exhibited mammoth vault NV W Gu no ~ cefeLeep
lad been built at cost Oh SZ3UOO, ~ ILL., & rate Of
Ing of pledged articles. lie dd n9I thhh te nount
interest tS0 nEe cspa had to remain idle dng
cIr3t deal of the time it was never known WI Iy
the capital wGe we V9 NAV be called upon advance
sTos ranging from 81 to $4,000, and We are com M
lctu ~ N''R In The meantime this capital remains
dI This can be offset only by the rate OF interest
on idle captal There is sueh profit as people
think in the annual sale Of unredeemea aru t On
The loans and often do not bring us back SO mucn
OF conrsc we DO not lose anything we are noI ~ ~
Ss 9 on n article or aoo Is taken
to for storage and we often keep articles
long after the time has expired for their TedePtg2
on these we receive no interest out Keep tno @ 10
ab. ,o oredeem them We do this for the sake Of the
owners not with the hope Of being able 10 pr Ner o
miobf not be able to offer such perfect security 70
our customers for the safe return OF their goods
VAULTS FILLED WITH JEWELS.
Mr. simpson showed large quantities of jewels which
had been pawned as far back as 1884. Most OF TINS
was diamond jewelry, of which the valne docs nor
guc,uate rapidly. There are in the vaults huiureu
~ bonsands of dollars worth OF such valuable prop
ertv which might be sold at any time at mrso
advance on the lent OF course most VI "io
money ON these was loaned at the rate OF Is per
Dt In ,orsf ner annun, inasmuch as the sums Were
for amounts greater than 500, but they rSrTS ea
only small Share OF the business for any one {caT
rhe loan Offices" which do pawnDloMns Dusi-
ness in an irregular way, do not adhere 70 oD 1e on w
tn,,Iation MS to interest Some OF these lehu nlolcS
80 % refe of from to 10 per cent month anu
take bills of sale for the colaeFal .dp1 ee83e
n,cnts for they offer possible chance oil recovery
I'm case OF loss In, l., Y,ors f., Tho
ooriT mart OF this century, when the french 10y
cTt,cnt established the Mont Pete IN fariS, rms
- an institution for lending money to the poor ~
Tho lowest possible rate of interest 1t Is estmated
dat the annual rate is about per cent when IS
Icr1aied fo he lust suficeat 70 cover me running
cSnanacs Whether such an Institution would be
ToPpsibIs in this city Is fruitful sulect Tor as rs
ebGeSt;d 70 greater hardshps than are now their
Ic4 and Il the state does not feel II proper 10 20
nari,a that Doubtless could he enlisted under state
sTbervson. such capital invested OF " OF e{ tSn
10 per cent. per annum. WolIu ne sOdscuu ~ '0
moor ard a boon to the capitalists