The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1891-07-26

set with precious stones Of every descrip-
tian. The appraisers valuation was at
Iached to each of these articles, and they
were auctioned off to the highest bidders
j noted that the clerks of the establishment,
always told whether the stones were true
or false. The sales were fair, and in mos,
cases the goods were very cheap. For g
long time this pawn shop gave all its profits
TO the church Then for time they went
to the government and now the institution
Is run, to certain extent, by private cor.
poration.
In addition to the Monte de Piedad
ToU FIND PRIVATE PAWN SHOPS ALL ovKH
MEXICO.
At these the loans are much more costly
and . and 10 per cent. month is not uncom-
mon. They take any kind of property as
security and they are in reality often fences
or receivers of stolen goods. In no country
in the world will you find more petty thiev-
ing than in Mexico, and these pawn shops
are largely the cause of it. The Mexican
peon is naturally sneak thief. He is not
q robber, and while he would have no COM
Functions about stealing towel or a hand
kerchief or suit of clothes, he would not
touch q package of 81 900 if he saw it lying
in your room at the hotel The penalties
for stealing are exceedingly heavy in Mex
ico and the majority of thefts are of things
ton. The Mexicans are expert pickpockets,
and have met a half dozen Of Americans
who have lost their watches in Mexican
crowds. A favorite place for stealing is in
the churches, and at one of the big feasts,
which occur SO often in different parts Of
the country, one needs to watch very care
fully after his pocketbook and his watch.
In sleeping on the ground floor 1t is always
necessary to guard the windows or you may
find your bed clothing and your pantaloons
gone in the morning. In stops at the station
for dinner the windows of the railroad cars
are always put down and the doors locked :;
and in carrying a small valise 1t is best to
keep it under your feet. A friend of mine
who has just loaned his revolver for Sl2 at
one Of these pawn shops. showed me his
tickets this morning. For the use Of the
money he pays cents on the dollar for the
first month; Is cents on the dollar for the
second month; IS percent. for the third
month, and after that % percent. month.
OF course, he expects to redeem the gun
before the end of the first month, but he Is
a natural spendthrift, and il is easy to see
who will own that revolver.
Nevertheless these pawn shops form the
only banking establishments of the greater
part of Mexico. In the smaller towns there
are no banking institutions whatever and
Mexico City with its 300, 900 people, its i'm
mense business and trade, and its mum bers
of wealthy people, has less than half q dozen
legitimate banking institutions. It seems
TO me that there is a big thing to be made
out of banking in Mexico, and the wonder
is that good American bank has not been
established here.
SAVINGS BANKS OUGHT TO PAY
in every city of this country, but so far I
have heard of only one, and that is at the
little city of Jalapa, which lies in the noun
tains between here and Vera Cruz. The
American population of the capital Is al
most large enough to warrant q good Amer
lean bank, and New York is the monetary
centre of Mexico to-day. Nine-tenths of
all the exchanges go through New York,
and drafts on London are sent to New
York for collection. The same Is largely
true as to drafts on Paris, and to a certain
extent so of Spanish drafts, though the
steamship line which runs between Spain
and Mexico decreases the Spanish business.
As far as / can learn, the banks Of Mexico
City are making a great deal Of money.
The bank Of Mexico and London, so one
of its chief directors tells me, made 20 per
which as at present constituted was organ
lied only few years ago, has more than
doubled in value. 1t does business of
about eighteen million dollars q year on q
capital of q million and q half, and it has a
large reserve fund. The president of this
bank Is Scotchman who came to Mexico
poor and who is now said to be worth q
number of millions. HIS name Ii Don
Thomas Branlf and he is president Of the
railroad that runs from Vera Cruz to the
capital and is large cotton factor and an
extensive real estate owner.
Another Of the big banks OF Mexico City