MONT PELtE, moil pa-la. See NUE, MONT.
MONT-DE-PIETt, moil-de-044a (in Italian Monte di Pieta), an authorized licensed or government pawnshop; a bank of charity which lends money on pledges at a low rate of interest, and whose aim is purely philan thropic. The chief customers of such institu tions, which are found in France, Italy, Ger many and other Continental countries, are work men pressed by a temporary failure of employ ment; small tradesmen without a bank account; or travelers in a large town whom some acci dent has subjected to a momentary strait; to all of whom it is a matter of necessity to conceal any compromise of their position in procuring money for present necessities. These institu tions were established to prevent the scandal and abuse of usury. They date their origin from the Middle Ages, when the loan of money on pled es was almost exclusively in the hands J of the Jews. They originated in Italy about
1450, and not long after were approved by several papal bulls. Several French and Italian cities possessed monts-de-piete in the latter half of the 15th century, among others, Mantua, Parma, Milan, Rome, Padua, Treves, Boulogne, etc. The French monts-de-piete, with the ex ception of those of Montpellier, Toulouse, Grenoble and Angers, which lend without in terest, exact interest at the rate of from 4 to 12 per cent. The chief mont-de-piete in France is that of Paris, which transacts a greater amount of business than all the rest together. In the United States and Great Britain pawn brokers take the place of monts-de-piete, which were introduced in the beginning of the 18th century, but failed. See also GOVERNMENT PAWNSHOPS IN FRANCE ; PAWNBROKERS.