New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-05-05
TILE PARIS INSTITUTION.

rhoroughlv TO understand the inllultous workings
o. the business of advancing money on pawn ucA-
o,s ore mus, look into IN" pan and system OF 'h'
grea, French Institution. the Mont lie Pete Inns
establishment with it, brlnches IN different h'ish-
borhood, IN i'aric lends every year about ''""'''
fr,nca M, only 10 the wTctchsI ~ AZ kinds gath
cred ~ Paris as well ~ the French. come here Tor
advances but any number % small iradesm'h
mechanics and artisans. VINO woud rot be able
IN borrow money anywhere at 50 reasonable a rate
as a sort OF ne.ghborlN BANK. " "i,' p'oP. "a
tute barely he tcnih part OF the customers IN
point Of numbers. they borrow more t'hh guar yer
~ the entire amount lent Working men ana
,,,,n"n Who receive another quarter # the Mont
de PETE advances lfW~oD francs loDt up J."
number 20 six-tcnths of tn" estab.lshmrh, S S's
drive these two classes TO the idwishop are Hl'
Moni Il. i'erc with silverware the workman takes
on; h. bodqu- ana wee verSi y run :" no.rov
money is an Indication OF Industrial proSperiY' *
Ssgews thgy n'' df Nor sien ,sper!en,e con-
nrmaiion OF That of the Proviient Loan society
Ncw-York The genera expenses for the ending
o. considerable" sums on @hN' III ..'.T o. 49,.
amounts on security IKE sewing machines That i
to say. esiaoshment IKE TN Noni a ra,a rGie
ar,i,ns on which !, advances 100000 francs a
YEAR c,uI ai5ri TO take as low a rate Of interest
as / per cent Il {; could exact CHARGES OF from l.
coo,lnp utensils hcds curtains ana vions The stor
ageroom require. by this mix"i assortment Is large
All come ~ IL remains unrederueI ,ong time.
/ dozen nlpkrs wcr- sod in Paris recently whicn
had ba.r u"GgcG IN 1873 for eight francs one .oin
~ thirty francs has been renewed In Paris bureau
arnurllv for thc last MY years and in another
thorr is sili an umbrella belonging - the grant
daughter Of one OF Louis Philippc's Minister'S FOR
fwcntv-vc wears interest has been paid on ms .as-
namnl article The sums lent on many artc.cs are
so modest that the total on l.iiDW" artlces OF
minor ya,ne amounts TO about 9.N0on francs
In Berlin 10 per cent a year Is pail on loans OF
over 81 ~ while smaller SUMS on" must submit
10 n rate Of 81 per cent. This T. q hardship III one
.rse as the articles pawncd by the poor are gen
orally Of such small value that the higher rate must
Of course bc paid In many cases douhtlcss inns
leads 10 the fnal loss of furniture etc. without
which the poor must suffer the greatest discomfort
\ REFORM THAT WAS BLOCKED.
II has already been noted In this article that on"
~ the difficulties TO overcome In rcmcyng the de-
fecis Of the French plcdge-loin system was the
fact that the "commssalrcs prlseurs were RESPONSE
III. for any generalization OF pledges offered them
In 1879 a most carefully studied bill was Introduced
tn the FIR, nch Chamber. This bill provided Tor the
Iischarslng from all pecunary Liability OF the ON,
Gals and for changing their commissions into IN"i
e,iorice II was approved by the "COnsell dr sur
,.rillance du Mont-dePcte" and by the 'tonS"!i
utferly ruined the business OF lending money on
y, vyn tickets Almost without debate me friends
80 the cent Investors In TINS business were
all. 10 nut the measure into the steep oi I'ath
l;1uond Duval. the able AMI cnerse'ic director
nj, 10 paris Mont do pete has asked the hard
do - tir should ask only very low rate or In
,crest 1, third parties going TO step IN between
.he actual borrowers and the establishment ana
r"ap the benefits Of 1t? What Is the dlrlerence II