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To one who would study human nature, especially in its darker features, there is no better field of observation than among these pawn-brokers' shops.
It is a good and forcible illustration of the degradation which debt always implies, though it may not always be outwardly visible, as here at Axim. The Governor himself, who is a native of Amsterdam, and apparently a mulatto, is one of those pawn-brokers who deal in human pledges. He is a merchant-soldier, bearing the military title of lieutenant, and doing business as a trader.
Usury laws, of course, are still frequent, but decreasing in number with the increasing modern tendency to allow freedom of contract in this as in other matters, except only to such persons as, for instance, pawn-brokers, who peculiarly require police regulation.
Pawn-brokers' establishments, distinguished by the mystic symbol of the three golden balls, were conveniently accessible; though what personal property these wretched people could possess, capable of being estimated in silver or copper, so as to afford a basis for a loan, was a problem that still perplexes me.
The banks were refusing loans, the pawn-brokers had doubled their gang of helpers, people bumped your shins on the streets with red sleds, Thomas and Jeremiah bubbled before you on the bars while you waited on one foot, holly-wreaths of hospitality were hung in windows of the stores, they who had 'em were getting their furs.
The wants of the fairer portion of the population are supplied, by 1,080 linen drapers, 1,500 milliners and dressmakers; 1,540 private schools take charge of their children; and 290 pawn-brokers' shops find employment and profit out of the reverses, follies, and vices of the community.
Exchangers were little more than the pawn-brokers of today and a bank was a pawn-shop where pledges were stored. The money loaned upon any pawn was much less than its full value. The increase of the loan soon made it more than the value of the pledge which was then forfeited, and the pawn was sold by the broker.
He is convinced that Nepcote is still in London without a penny in his pockets. Merrington asks himself what Nepcote is likely to do in such circumstances? Borrow from his friends or attempt to cash a cheque? We will guard against that by watching his clubs and his bank. Raise funds on the necklace if he has it? Merrington knows how to stop that by warning the pawn-brokers and jewellers.
Gordon lives," replied Katy, very sad at the thought of the mischief she had done. "She lives in Temple Street, over back of the State House. What do you want of her?" "I want to see her. Do you suppose you can get that watch back?" "I'm certain I can. When my friend the mayor hears my story, you may depend upon it he will get the watch, or upset all the pawn-brokers' shops in the city."
The capital of the institution has more than doubled since its organization, but the amount of good which it has been the means of accomplishing cannot be estimated. Its first effect was to break up all the private pawn-brokers' establishments which charged usurious interest for money, its own rates being placed at a low figure, intended barely to meet necessary expenses.
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