In the first place, I learned what I should
certainly have had no chance of learning from
Delphine—that the profits arising from the
transactions of the Mont de Piété are
devoted to the aid of the public hospitals of
Paris, which realise no inconsiderable sum
from this source. During the financial year of
1850, the amount was four hundred and sixty-
eight thousand eight hundred francs; being
an increase of nearly sixty-two thousand nine
hundred francs over the preceding year.

The profits of the two years—1849 and 1850
—amounted to eight hundred and seventy-
four thousand francs; a sum which
constitutes a new fact in the annals of the
institution—there being no previous instance
of the profits of two consecutive years
amounting respectively to four hundred
thousand francs. Indeed, during a long
period this amount has been attained only
three times—in 1823, 1829, and 1841. Since
the re-organisation of the Mont de Piété,
in 1806, the year 1850 has—after making
every compensation—yielded the largest
amount towards the benevolent objects to
which its profits are devoted.

The capital necessary for the maintenance
of the institution is raised on debentures,
bearing a small rate of interest. It appears
that this capital had become considerably
reduced in consequence of the death of several
of the largest holders, whose heirs were not
willing to continue the investment. To repair
this deficiency, it was found necessary to raise
the rate of interest paid to the holders,
successively from three to three-and-a-half, and
subsequently to four per cent. This arrangement
has been found successful.

Loans from the Mont de Piété may be
effected, either directly at the central office,
at the succursale, a sort of addition to the
central office, established to meet the requirements
of an overflowing clientelle—a
" Pawnbrokery of Ease," in fact—or at the auxiliary
offices. The business may be negotiated
personally—the most prevalent custom—or
through the agency of commissionnaires.
During the period under review, the number
of articles deposited were eight hundred and
eighty-nine thousand four hundred and thirty;
upon which, sums were advanced exceeding
thirteen millions six hundred thousand francs.
Including renewals, however, the number of
transactions were upwards of one million one
hundred, which increased the sum total to
twenty millions and a half of francs.

This last amount exceeds by nearly a million
and a half of francs the products of the
preceding year; and this increase of original
transactions is accompanied by a proportionate
decrease in the number of renewals. Both of these
facts are considered cheering signs by French
political economists. From the increase of
original transactions, they infer that the great
bulk of the population are in possession of a
larger amount of personal and available
property; and, from the decrease in renewals,
that they have better means at their command
for the redemption of their pledges. There
is, certainly, no reason to argue from an
increase in the number of loans an increase in
the necessities of the people; for, anybody
who knows anything of the habits of the
more humble classes of the Parisians, will
easily believe that in, perhaps, the majority
of cases, the loans are obtained merely
for purposes of luxury and amusement;
that an ouvrier who should find himself
without any effects available as pledges, would
not, in all probability, be deprived of
anything so serious as his dinner; but of his
wine, perhaps, his fête, or his theatre. It is
fair, therefore, to assume that these classes
possess more property than hitherto. With
regard to the decrease of renewals, the fact
speaks for itself. The average amount of the
separate sums lent, taking in the renewals,
was seventeen francs thirty-three centimes—
a slight increase over the average of the
preceding year.

My Aunt's balance sheet exhibits
encouraging results, and these are attributed to
the favourable terms on which the directors,
during the last ten months, have been able to
maintain their capital. The rate of interest
which they have paid to the holders of their
securities during that period has not been more
than three per cent.—a fact which they
consider signally indicative of the degree of
public confidence enjoyed by the institution.

The amount lent upon goods deposited is
thus regulated, in proportion to their value:—
for goods that can be preserved, two-thirds of
their estimated value are advanced; on gold and
silver articles, four-fifths. In making the
estimate, however, in the latter case, workmanship
is not taken into consideration; the positive
weight of the metal being the sole guide.
Articles not redeemed within the year are
sold, subject, however, as in England, to a
claim for restoration of the surplus, if made
within three years.

My Aunt's constitution partakes more of
a benevolent nature than that of My Uncle.
My Uncle sets up in business for his own
benefit. My Aunt is set up for the
purpose of benefiting her borrowers; out of
whose necessities she, nevertheless, contrives
to make no inconsiderable sum, which, we are
bound to say, she does not spend upon herself.
How far My Uncle would find it practicable
or expedient to follow her example, is a
question open to discussion. It is certain
that in Ireland an institution after the model
of that of My Aunt has not been attended
with unmixed success.