New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-19
PLEDGES ~ THE P1UNSHOPS.

Tho Democrats arc continually making large
professions Of their sympathy with the poor
and their desire 70 promote the welfare 81
rcoplc Of snail means. They Will have TINS
winter complete control Of both houses OF the
cc;,la'ulc and Of the Dcm9ciatic Governor.
Thcy ought 10 consider it Il pressing duty to
reduce the cxacton, Of the pawnbrokcr'. a
great many deserving but unfortunate people
in time, of Sa-k " TX or from some stroke oi
dj>irc>, are compiled to resort 10 the pawn
shops in order - tide over an emergency. In
Paris and in some other European cities the
Government feels thai IL ought 10 protcc' the
needy who are obliged 10 ra~c small loans on
Their pt,s,ral Irolc g. and the Mont d. Ple'e.
the great DaWu,hup oi Pans, l. 50 regulated
and conducted by ihc Government rs 10 aloId
m largest possible help 70 those suffering from
misfortune. while AZ the same time IL work
ing, d. not Ind 10 promot" paupcuSm. Only
4 moderate rate 81 interest is collected on
pledge, IN pawn in England, IN france and
in other par, of Europe. The wcl-bcng oil
the poor j, carefully guarded in such matters
abroad. In Ncw-Yolh the prosperity Of the
pavubroLris seem, 10 hay, been the chief ob-
ic.t of our legislators. rather jhan the welfare
81 the poor.
The rate, OF interest which the pawnbrokcrS
in hi, city exact are unreasonable and cNor-
b,tani The regular rate hero for loan, under
so j., 3 per cent per month for the first six
month, and per cent per month for each
month aftcruard. Hence the borrower OF small
amounts on pledge, is compelled to pay at the
outlagcou, rate OF 30 per cent for year. On
loans of 500 and motc the rate is per cent
per month for the lis, >lX months and per
cent a month al,crvarl Persons who get
loan, running mp into the hundreds Of dollars
Mood ulotoc'iun far les than the needy Dor
rover, Of small sums. People who have di1-
mond, and valuable property on which 10 OBJ
t1ln advance, require the fostering care oi
lcri,aion much lc~, than do the people who
are compelled T. PAWN Articles Of small value
in order 20 moyide focd for their families.
Eur in all cl.c, the nat IS OF interest eAdctcd in
thi, ciiy are indcfcn-ihy high.
THETA nnblokcr really luu> no risk whatever.
sine. d. ], Away, too prudent - make adj
vance, Of amount, which approach the TIN"
value Of ihc article, leaned upon lie can al
way, sell the articles on which he makes loans
for more than the sums which he lend, on the
security. TO permit him to cNton 80 large 4
rat, OF Interest Il, 80 per cent year on small
loan, i, a eI:c,ou, WIoEg. The pa"nbioker'
in all plr;s Of this city have constantly grown
richer. and many Of them have accumulated
Ltc riuncs while tie unfortunate people who
have been compelled by distress 10 resort 10
them for small sums have grown poorer and
p0orr The burden presses severely upon the
moor. The rate, If intc,c.t ought T. be le-
duccl heavily II 3, not the paNnbIoheiS who
need prot c;ion; il is the p.or or Demo
cratic friend, in the Legislature Of 1898 ought
Ia reform the abuses now existing in the pawn
shop system They will thereby afford wei
come relief to those people in this city who
are in sore need OF the kindly aid OF proper
| loci slltiof.