However lucrative the busbies. of pawnbrokers may be to those who follow it, doubts are entertained whether the toleration of them be not an evil to the public. They are, indeed., temporarily useful, to in the most necessitous circumstances; re:: it is impossible, by any Legislative inter' femme to bring them mile, that control which woatel be desirable,—as their interests are always at variance with the interests of their employers,—and ar mankind, under the pressure of necessity, are re enabled by no sacrifioe in seeking momentary relied ultimate considerations• are too often overlooked. Hence the drat resort for aid.ftequently leads to a se cond, and then to ethers successively, while the pros petty originally impledged remains unredeemed, and all the rest belonging to the owner gradually diminish es, until he is left destitute. It is the poor and neeessi tons only who avail themselves of raising supplies on their goods, to ward off some impending evil and it is surprising how low such transactions are carried. Nay, the statute itself illustrates the nature of this miserable traffic more forcibly than could be done in ether term. It is enacted, that if, at the period of redeeming the goods impledged, there shall be a certain sum due of interest and profit, of which the lowest denomination shall be a farthing, and the re deemer " shall not be able to produce and pay to the Pawnbroker a current farthing, which shall be to the satisfaction and liking of such person or persons as are to receive the same, but shall, in lieu thereof, tender to each person or persons to receive the same, one halfpenny, in order to discharge the said remising ranking so due, as aforesaid* the said Pawnbroker or Pawnbrokers, his, her, or their fer vent or agent, to whom such tender of a halfpenny ,-shall be made, shall, in exchange thereof, deliver un to such person or persons so redeeming goods as aforesaid, one good and lawful farthing of the cur rent coin of this kingdom, or, in default thereof, shall wholly abate the said remaining farthing from the total sum to be received" from the ,redeemer. But 4t•is not only in the view of the indigent yield ing to the pressure of necessity, in parting with their .property for an inconsiderable value, that society suffers an injury. The thoughtless and depraved here find ready means of gratifying their propensi ties, by the assistance of the pawnbroker's shop, and thousands part with tlrir apparel and furniture for what is, the next moment, wasted in intoxication.
Besides, the facility of obtaining the reception of stolen goods, is attended with the most pernicious consequences, and the most powerful encouragement to theft. Notwithstanding the law anxiously endea vours to secure property to its owners, by imposing penalties on those who offer it in pawn, and in ordain ing it to be restored by the pawnbroker, cases in numerable may be figured, where the pawnbroker cannot discriminate what is the genuine property of any individual in particular, and where it is not only difficult, but may prove impossible, to bring an of fender to justice. In the present year (1.817), an asso ciation, more immediately resulting from the pressure of the times, has been formed in Edinburgh, for the purpose of aiding those with advice and information who have dealings with pawnbrokers. Its special oh. ject, we believe, is, to warn the ignorant of the laws under which their property is protected.
The banks called Savings' Banks may probably prove a beneficial substitute for resort to the pawnbroker. Sums amounting to a shilling and upwards are receiv ed, and bear interest at 4 per cent, when accumulated .to twelve shillings; thus enabling the labourer, or mechanic, or artisan, to preserve the remnant of his weekly wages, and convert it to advantage. Loans, not exceeding L. 5, are made, free of inte rest, to the necessitous under temporary pressure, whereby their little property may remain entire. Banks of this description are, at the present mo ment, rapidly disseminating throughout the different parishes and towns of Scotland, and their outset has been attended with one decided benefit, in diminish ing the resort to alehouses, where the earnings of la bour, too small to form an object for preservation, quickly disappeared. In some towns of Italy we have understood there are charitable institutions of a mixed nature between pawnbroking and banking. There an advance seems to be made on goods impledgeti at a certain rate of interest by some, and by others money is received and returned, with 7 per cent., at the termination of a year. The transactions of these institutions, however, are not completely explained, either as to the security given or the advantage de rived, (s.)