The sun., 1897-04-16

could have the use Of them for two shiii-
inqs. II he wore in Vienna; indeed, they
would only cost him one shilling tnere pu'
for the regulation to which we nave re-
ferred.
Most of the people who resort to the Wen
ma Imperial Pawnshops go In search OF very
small sums. During the year 1s93 the num-
ber of articles pledged there was s60,olb'
and on 773, 100 of them the sum lent was
under ten fiorins; on 00,O69 the sum lent
,vas between ten and one hundred florins:
on 2. .773 IL was between one hundred and
one thousand forins, and on only o3 OF
them was it over one thousand horins. 1t
appears that on an average 1850 persons
pawn every day at the offices some one OF
their possessions; 1875 of these pay for the
loans they obtain only one kreuzer, which
Is equivalent to two-flfths of cent, while
about 500 moro pay four kreuzers or less;
that is to say, less than two cents. Far
from deriving any benefit from the ousi-
ness transacted with this section OF their
customers, the offices are the poorer Tor
every visit received from them All the
kreuEer clients, whether one kreuzer or four
kreuzers, are In fact, the recipients OF
charity. In addition to the 625 clients
who thus represent positive drain on their
resources the offices have many hundreds
moro by whom they neither gain nor lose
The interest paid by these persons on their
loans is Just enough to defray tho expenses
incurred on their behalf.
What money 10 made comes from loans to
the minority, which consists OF persons
comparatively we'll to do, who are driven to
pledge their chattels by some sudden en-
barrassment. At the Imperial Pawnshops
they can obtain money more easily, more
quickly, and at cheaper rate than
anywhere else, and they have no ap-
prehension Of sharp dealing. When tho
time comes to redeem a pledge 1t may hap
pen, of course, that the borrower has not
the money whcrewith to do 30. In this
case he may, IL he choose, repledge it. In
the course OF the year 1893 no fewer than
01,079 pawns were repledged. If, how
ever. at the end of ten months from the
time for which he pawned his prop
erty, he have neither redeemed IL nor
rcpledged it, the pawn is put up for sale at
public auction. Should the sum for
which it is then sold be greater than that
for which 1t is pledged, the difference Is
handed over to the original owner, provided
he claim it within three years. II un-
claimed, the surplus becomes the property
of the institution. One of the remarkable
facts connected with the working Of these
offices is the extremely small number of
cases in which the pawn tickets are allowed
to lapse In the course of the year 1893,
when, as we have said, S66,O15 articles
,,1z A . r t.
is noteworthy, too, that the unredeemed
pledges consisted almost entirely of jewelry.
Notwithstanding the philanthropic terms
on which their business Is conducted, the
present financial condition of these pawn.
shops is satisfactory; not only are they self
supporting, but they are growing richer ev-
cry year. 1t is true that no interest is paid
on the capital invested in them, which now
amounts to ,575, 900 fiorins. In 1893 their
income was 31s.67s forins and their ex-
penditures 256,55S; thus their net gain
for the year was 80, 100 florins. The di-
rectors Of the offices have only half Of the
profits at their disposal, being obliged to
hand over the other moiety to the munich
pality of Vienna for the relief of the poor.
Their own share of the money is devoted to
extending the business.
There is no doubt that the founder of
these Imperial Pawnshops deserves to rank
as benefactor of his kind, all the more be-
cause his beneficiaries never dream that
they are receiving a favor in being laid
under an obligation. Practically the offices
are centres for the distribution of relief in
minute portions at the very moment when
it is most needed; but so quietly and dis
creetly is the work carried on that the
truth is unsuspected.