storage-room, and consequently are
unable to deliver an object redeemed until the following day; the
transportation of these pledges through the streets is effected in the
company's own wagons, and with every precaution against loss. In the
auxiliary bureaux, or bureaux of the quarter, no loan is made for a
greater sum than five hundred francs, while in the central establishment
the limit is ten thousand francs, but all the regulations are otherwise
the same; only one style of ticket is used, and this varies in color
according to the year, being white, pink, yellow, green, etc., in
sequence.
By the terms of the present regulations of the establishment, the object
offered as a pledge is appraised by eight official _commissaires-priseurs_
who are responsible for the deficiency in case the object, being
neither renewed nor redeemed, is sold at public auction at less than
their valuation. As may be supposed, they take care to guard against
this eventuality,--the amount to be loaned on each pledge being the same
proportion of its value as that fixed by the ordinance of 1777. The
disappointment of the borrower at the inadequate sum offered him is not
considered; but it has been proposed to establish by law a percentage
nearer the actual market value of the security. The borrower is also
subject to a tax,--of one per cent. on the sum he receives, without
regard to the duration of the loan, and of six per cent.
additional,--three for interest and three for running expenses. This
last is calculated proportionally on the sum received and on the length
of time the pledge remains unredeemed, counted by fortnights; loans of
three, four, and five francs, not remaining unredeemed longer than two
months, are not subject to this six per cent. tax.
Careful precautions are taken against the Mont-de-Piete being made a
receptacle for stolen goods. The applicant for a loan must be known and
have a permanent residence, or be vouched for by some one fulfilling
these requirements; a married woman must bring the authorization of her
husband, and no loans are made to minors. If the employes have any
reason to suspect the integrity of the applicant, his loan is refused
until he furnishes more satisfactory guarantees. In one year the number
of watches recognized as stolen was two hundred and fifty, out of a
total of three hundred and fifty thousand received. Loans are made for a
year, at the longest, but in practice two months of grace are added
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