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Article PROSPECTUS OF A PLAN ← Page 4 of 5 →
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Prospectus Of A Plan
under the patronage and controul of the Grand Lodge , that £ 1000 a year might be the average net profit of each . When it will be shown that such profits will have been realized in Edinburgh , funds for the erection of at least one of the proposed charitable establishments will , doubtless , be easily obtained . Mr . Barrington has ascertained that there are seven hundred
pawnbrokers' establishments in Ireland , and that the average annual profit of each is £ 900 . Hence , the annual profits obtained by pawnbroking in ¦ Ireland , amount to £ 630 , 000 . The annual expenses of the charitable institutions in Ireland , viz ., hospitals , infirmaries , poor-houses , dispensaries , lunatic asylums , & c , amount to £ 162 , 089 , which , being deducted from the profits obtained by pawnbroking , leaves an annual surplus of £ 467 , 911 . And , if to this be added the amount of all fines , penalties ,
forfeited recognizances , & c , which are almost unproductive in Ireland , but which are , on the continent , applied to the support of the poor , the amount , if properly collected , may be fairly estimated at £ 32 , 089 , amounting in the aggregate to the annual sum of £ 500 , 000 . By means of such institutions , Frederick the Great reclaimed Silesia ; ancl most of the great public buildings in Europe—hospitals , aqueducts , brid & chave been leted . Their condition in Tuscany and
ges , , comp Bavaria is most flourishing , and in the Low Countries one hundred and sixteen of them exist . It is , in a worcl , by the agency of such institutions , that the hospitals o : i the continent are chiefly supported . The British dominions are the only countries in Europe , in which lending money on pledges is allowed exclusively for private advantage , and in whicli the profits are not applied to some charitable aud public purpose . And , although the legislature have repeatedly endeavoured to regulate
the rate of interest , yet it is found impossible to prevent the most dreadful excess in the charges . The proposed pecuniary ancl humane advantages will , doubtless , induce benevolent persons to assist , as loss cannot be anticipated , and as the rate of interest is greater than can be obtained by investing money in the public funds . The whole business being under the direction ancl controul of the Grand Lodge of Scotland , who will appoint auditors , & and demand a quarterlscrutinizing investigation of the affairsand
c , y , who will take especial care that the business shall , in every respect , be conducted in the most satisfactory manner , will afford complete security , and the lenders will not incur responsibility . Tradesmen and others might , by taking debentures , receive nearly double the amount of interest that can be obtained from savings banks ; and money can , at any time , be had for the debentures , as they will be received as pledges . The advantages are : Firstly—A capital will be raised by debentures , interestthe
at a certain interest , ancl will be lent on a greater ; profits to be devoted to charitable purposes . Secondly—The debentures will be received in pawn , an advantage not to be obtained in savings banks . Thirdly—Money will be lent at interest , payable by instalments , to poor , but respectable and industrious persons , on the personal security of the borrowers , conjointly , in each instance , with three other respectable householdersFourthl— will be lent on goodsas in the
. yMoney , case of ordinary pawnbrokers . Fifthly—Articles , such as implements of trade , pawned by deserving persons during absolute want , to be restored without interest or charge . Sixthly—Every precaution must be used against receiving stolen goods in pawn . The writer begs to allude to an excellent institution that has been established near Paris , at a place called the Chaillot , but which has not
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
Prospectus Of A Plan
under the patronage and controul of the Grand Lodge , that £ 1000 a year might be the average net profit of each . When it will be shown that such profits will have been realized in Edinburgh , funds for the erection of at least one of the proposed charitable establishments will , doubtless , be easily obtained . Mr . Barrington has ascertained that there are seven hundred
pawnbrokers' establishments in Ireland , and that the average annual profit of each is £ 900 . Hence , the annual profits obtained by pawnbroking in ¦ Ireland , amount to £ 630 , 000 . The annual expenses of the charitable institutions in Ireland , viz ., hospitals , infirmaries , poor-houses , dispensaries , lunatic asylums , & c , amount to £ 162 , 089 , which , being deducted from the profits obtained by pawnbroking , leaves an annual surplus of £ 467 , 911 . And , if to this be added the amount of all fines , penalties ,
forfeited recognizances , & c , which are almost unproductive in Ireland , but which are , on the continent , applied to the support of the poor , the amount , if properly collected , may be fairly estimated at £ 32 , 089 , amounting in the aggregate to the annual sum of £ 500 , 000 . By means of such institutions , Frederick the Great reclaimed Silesia ; ancl most of the great public buildings in Europe—hospitals , aqueducts , brid & chave been leted . Their condition in Tuscany and
ges , , comp Bavaria is most flourishing , and in the Low Countries one hundred and sixteen of them exist . It is , in a worcl , by the agency of such institutions , that the hospitals o : i the continent are chiefly supported . The British dominions are the only countries in Europe , in which lending money on pledges is allowed exclusively for private advantage , and in whicli the profits are not applied to some charitable aud public purpose . And , although the legislature have repeatedly endeavoured to regulate
the rate of interest , yet it is found impossible to prevent the most dreadful excess in the charges . The proposed pecuniary ancl humane advantages will , doubtless , induce benevolent persons to assist , as loss cannot be anticipated , and as the rate of interest is greater than can be obtained by investing money in the public funds . The whole business being under the direction ancl controul of the Grand Lodge of Scotland , who will appoint auditors , & and demand a quarterlscrutinizing investigation of the affairsand
c , y , who will take especial care that the business shall , in every respect , be conducted in the most satisfactory manner , will afford complete security , and the lenders will not incur responsibility . Tradesmen and others might , by taking debentures , receive nearly double the amount of interest that can be obtained from savings banks ; and money can , at any time , be had for the debentures , as they will be received as pledges . The advantages are : Firstly—A capital will be raised by debentures , interestthe
at a certain interest , ancl will be lent on a greater ; profits to be devoted to charitable purposes . Secondly—The debentures will be received in pawn , an advantage not to be obtained in savings banks . Thirdly—Money will be lent at interest , payable by instalments , to poor , but respectable and industrious persons , on the personal security of the borrowers , conjointly , in each instance , with three other respectable householdersFourthl— will be lent on goodsas in the
. yMoney , case of ordinary pawnbrokers . Fifthly—Articles , such as implements of trade , pawned by deserving persons during absolute want , to be restored without interest or charge . Sixthly—Every precaution must be used against receiving stolen goods in pawn . The writer begs to allude to an excellent institution that has been established near Paris , at a place called the Chaillot , but which has not