St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1900-11-24
SATURDAY, NOVEMBER
CHINESE PAwNsHops.
These InstitauOns Have bees AAeWn
to Have Existed Over $500
Years Are. s.nt

to Have Existed Over $500
What the public house or hotel is to
an English town the pawnshop n to
chinese community, says the London
Express.
Its lofty, solid bnilding rears itsth
above the houses ana formA the mcst
prominent feature in the bird's-eye
view of any city or town. They are
now national institutions and were
known TO exist In the days Of Con.
fucius, over $500 years ago.
In those days nsurers charged ex-
orbitant interest for money lent, snd
very frequently the borrower disap-
peared with his booty for good. To
one ingenious Shylock there came an
idea. As hostages were given in war
as a guarantee Of good faith, why
should not borrowers deposit pledges
for the money lent them7 Thus orig
mated pawnbroking in China. The
pawnshop is square building, towef'
Ing to some 20 or so. feet above the
ground. The first 20 feet are built Of
solid granite, the remainder of best
brick. As precautions against fire and
thieves, they are most solidly built.
No woodwork is allowed on the OUT
side, and the walls are raised several
feet above the roof. The windows are
very small and tightly laced with thick
iron shutters to repel flames.
The eight or ten-storied building
stands several feet back from the street
line. There is a small doorway, and be-
hind it stands q wooden screen bearing
the name of the pawnshop. Instead OF
the English ''three balls" the Chinese
pawning sign consists of two. This
represents the bottle eourd, used in
China as natural life buoy, and thus
proclaims the powflshoP rs THE Life
Preserver."
Behind this signboard is small
courtyard where all business is trans
acted. The front Of the shop is fenced
off with iron bars, like lions cage.
six feet above the ground. The Chi
nese coming to pawn his winter clothes
hands up the bundle to the broker be-
hind the bars.
The Chinese "uncle" fixes the price,
gives the nephew" ticket and the
money; the pledge - ticketed and
packed away, just as in England.
The rates of interest are high On
advances of less than ten shillings SO
per cent. per annum is charged. From
los. to Ef, a. per cent, and on larger
sums slightly less.
But during the winter months arti-
cles can be redeemed at reduction OF
one-third in the interest, as a conces-
sion to the needs of the poor.
A pledge may hold good for three
years. After that time it cannot be re-
deemed.
Periodically the pawnshops sell OF
their unredeemed pledges to second
hand shops, sales direct to the public
being forbidden.
On migrating % AusTalia, Americ.
or elsewhere, the Chinaman pawns his
implements Of worship-cenxer, urn.
tripod, etc, thus leating them in se-
curity till his return. Pawnahops are
also used as banks.
A man having saved some money con-
signs it to the pawnbroker' for safe
custody. paying small fee for the priv
i!ege. From time to time he is admit
ted to see that his treasure ID still i1-
tact or toAdd more to it.
There are three classes of pawnshops
in China. The largest are, of course. the
most respectable, while the smaller
houses are more grasping in their
business. Both are duly licensed by
the government, and pay an annual
fee. There are also small secret pawn
shops existing outside the law and only
by connivance with the officials whose
is purchased. In China
the business of pawnbroking is honor
able and followed by the highest men
in the kingdom. Much of Ii Hung
Chang's vast wealth has come and still
from his five large pawnshops.
He is q pawnbroker as well as vice
roy.
The Chinese ''uncle's" great enemies
are fire and thieves. II hre orig.
mates in the shop the proprietor must
pay the full value Of all pledges de-
If the building is wrecked
by = fire starting outside the owner
is exempt save for small percentage.
As to robbers, cartloads of stones are
stored to repel an attack, prompted by
the rich booty of the pawnshops. The
are also armed. but not in
the places are wrecked by
gangs of robbers.