The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1894-03-06
STATE PAWNBROKER
Manner in Which the Bust
ness Is Conducted in
Belgium.
USURY DONE AWAY WITH.
Precautions to Prevent the Pawn
ing Of Stolen Articles-An
Excellent Plan.

From the twelfth century up to the middle
of the present century usury was practiced
to a glaring extent in Belgium. Institutions
equivalent to our p~awnshops existed in great
numbers II charged from 30 to 100 per
cent. on loans. All this has been remedied,
and the pawnshop system of Brussels today,
SAYS the Newark Call, is said to be one of the
best in existence. 1t is entirely under the
control of the Government, and every pro-
| lection is afforded those whom necessity COM
pels to resort to those places. The present
system went into effect at the beginning of
1892. The legal rate of interest is u per cent.
All organic rules prescribed for the man
agement of the business are submitted for
approval to the State Government, which
exercises a strict supervision over all pawn
shops. Each shop is divided into four i'm
portant services OF observation-disclosures
office, appraisers division, stores or store
rooms and redeeming office. This office is
under the management of three appraisers,
| one of whom is required to be an expert gold
and silver smith, and one assistant to the
latter, a bookkeeper charged with the
| records of the office, a cashier, and an as
sistant cashier, who keepsssaaa record of the
sums loaned, The appraisers receive and ex-
| anime the object to be pawned and determ-
inc the amount to be loaned If accepted,
the borrower receives a numbered ticket, to
which he affixes his initials and flourish. On
presenting this ticket to the cashier, and
after complying with certain formalities,
he received the amount loaned. The ticket
which has been deliuered to the borrower by
the cashier is separated into halves, one of
which is returned to the borrowers and the
other attached to the object pawned, which
is at once sent to the Storeroom.
PAWNING OF TOLEN ARTICLES.
To prevent as much as possible the avn
ing of stolen articles, the management has
adopted the following resolutions :-When
the value of a pawn is 20 francs $3.50 or
more, the borrower is obliged to produce a
document clearly establishing his identity.
A description of the goods pawned is written
on the ticket and attached to the pawn, n
also inscribed ON the record books of the
pawnoffice. A list of such goods is publicly
posted IN the pawnship during three weeks.
The appraiser is held responsible for the loss
of all goods after they AVE been recorded.
Appraisers, cashiers and storekeepers are re-
quired to keep a daily record of the trans
actions of their respective departments.
These lists are collected and compared daily
before the evening closing. They must give
identical totals.
The tracer or central record office of
pawns is independent of the pawning or re-
deeming departments, although lists of
loans and redeemed pledges are daily sent to
it. The method of tracing employed issim-
pie. 1t consists in affixing a number oppo-
site to the date of pawning or redemption.
This is styled a tracer. A traced pawn is
one either redeemed or sold after the expira-
ton of term furnished by the records of un-
redeemed pawns, and which in consequence
of forfeit must be sold. The storeroom must
produce all forfeited pawns.
Lots are verified and classified by order of
date of loan and daily number. Special at
tention is given to pledges requiring extra
ordinary care, as well as to those of UNI
- l.. 1-11-- r. = T. -
leaye the Storeroom until a ticketjfor it n
proof of identity of borrower are produced.
The ticket known as a ''court billet' short
ticket is held by the borrower; the remain
ing half, designated as ''long billet" long
ticket, is attached to the article in pawn.
The storekeeper makes note Of every pawn
going out, in order that his list may tally
with the daily record of the redemption
office, and at the end of each month agree
with the list kept by the tracer of unre-
deemed and forfeited pawns destined to be
sold.
ARTICLES.
In redeeming articles the borrower pre-
| SentS his ticket, or scourt billet" for
which he receives a ''contre billet,n that
is, a ticket indicating the sum he is to pay.
He is required by law to afix a revenue
stamp to this ticket before presenting it to
the pay receiver. The stamped ticket is
then delivered in exchange for the pawn,
WHICH, Sbll D6dIluS LuS long jill
let," is taken to the redeeming
office to be returned to the borrower.
The s'contre billet" or control ticket, of
the borrower is placed with the 'long billet"
Thust the borrower receives his pledge, the
storeroom, the ''centre billet and the re-
demption Office, the 'tlong billet and "contre
billet" establishing that payment has been
made and the article pawned delivered to
the party interested. The records of the re-
/ demption Office are constantly verified and
balanced with the receivers books in such
manner as to avoid error. Each day the
total records of redeemed pledges n of the
| StOrerOom must tally.
The sales are public and periodical. No
object can be sold until the expiration of
fourteen months, dating from day of pawn
ing. Purchasers pay five per cent. over and
above the sun paid, which is employed by
the institution to cover the expenses OF sale.
Silverware, jewelry, bronzes, etc, are ex-
| posed for public inspection the day preced-
ing sale. When an article does not bring
four-fifths of the sum loaned, it is withdrawn
| and offered again at the following periodic
| sale. After each sale an account
ing is made of the surplus, that is, the amount
which remains after original sums, with
| computed interest thereon, are deducted, as
well as all expenses connected with the sale.
Holders of unredeemed or forfeited pledges
have the amount due them written on the
| ticket, When the sale is improbable the
establishment appropriates the entire amount
accruing from the sale. Surplus not claimed
within two years after the sale reverts to
| the establishment.
The transactions of the Brussels pawn
| shops for one year show that the pawns
amounted to about a million dollars. The
salaries of the brokers amounted to about
$4,000. The cost of buildings, repairs, etc.,
was about So, 500. The redeemed pawns were
about $500, 600; the sales about 100000; the
interest collected was about the same
amount, and the surplus cost of limitation
was about $500. The Government has
found the pawn shops profitable, and the
| patrons nave been accorded fairer treat
| ment than under the old system.
OBSERVATION-DISCLOSURES MASQUERADE.