The times. [volume] (Washington [D.C.]) 1897-1901, 1901-04-21
A NATIONS LOAN OFFICE.
The Operation of PawnshOps in the
City of Mexico.
(From the New York Evening Post.)

thfOin the New York Evening Post.D
The question of pawnshops in Mexico
really affects the prosperity of the peo-
pie, as with a majority the pledgtng Of
articles is not an incident in their lives.
but the most natural thing to be done to
meet an emergency The act is repeated
ey arises. A multitude of families among
the poorer and middle classes live in this
way-never knowing what It is to be free
from state of bondage
Answering the demand for such loans
an abnormal number of pawnshops ex-
list In the City of Mexico, and over the
entire Republic. From is to 20 per cent
is demanded. At regular intervals adver-
tiscments appear in the daily papers an
nouncing that in certain pawnshops the
articles must be redeemed or they will be
placed on sale.
That rateros, az Mexican pickpockets
are called. md a ready way to raise
money on their spoils in these places is
certain, and the police are given author
ity to make thorough raids when neces-
sary a government pHwnshop. the Ma
cipnal Monte de Piedad' was founded I'm
1775 by the rich and knd-hearted Pedro
Romero de Terrcros, count Of ReRia, own
or Of the famous old mines of Real
del Monte. Seeing the suffering endured
by many worthy people for the lack of
small sums of money, he endowed this
Institution with 100000. To give credit
on small sums of money at the lowest
possible rate of interest. to the very poor
has proved a good work. The capital
has increased IT, 81 10000 in round num-
bers. In ISIS 81 ,iB5.USl was loaned in 1899
s. 200. 900. and the loans for 1900 were half
Il million more. rF Ing
In spite of the crisis through which 1t
passed a few years ago, so firm is its
basis and so great the confidence inspired
by the honesty of it's administration that
i'm 1860 the personal deposits in the saw
ngs department were 5000 O00.
From its origin band conditions the
Monte de Picdad has not been able to
aid the poorest classes of people. The ne
cessity for having loans perfectly secured
admits of its receiving only articles Of
determined value, on which only such
moderate sums may be loaned as may be
lost without evil effect If the owner fails
to redeem. The national Government and
the administration ofithe institution have
tried several times to extend the benefits
to the very poor, and at one time. several
years ago. established branches In the
principal parts of the city. In them the
loan was made easier of accomplishment,
though the rate of interest was higher
On account of the crisis referred to. these
branches or sucur-sales were withdrawn
one by one they have been re-established
until now there are four in widely separ-
ated parts of the city.
Notwithstanding these national pawn
shops the ordinary shops, Empeno Ba-
gar. flourish by extending loans on the
most insignificant articles conceivable, dec
handing to the last centavO the highest
rate to be gotten from the miserable Great
ures who Will pawn anything, no
matter how necessary to the fam
lily, in order to get drink. or
To have few centavos TO gam
bic with. Rules are made governing these
places. inspections are made, but little adj
vance has been the result in recttfying
the inevitable evils. Those who have the
good of the poorer classes NJ hehrt long
for the day when there shall be more
thrift. The national pawnshop is as yet
the only remedy in sight to offset the
evils OF the Empeno y Bazaar.