Mont de Piété

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1 Introduction
2 Impact on Society
3 Mont de Piété in the World
4 Interesting Facts
5 Notes
6 References
7 Further reading
8 External links
9 See also

[edit] Introduction

Mont de piété is an institution in continental Europe, that scholars believe to be created during the 12th century (with the sanction of Pope Innocent III), that lends money to the poor at little or no interest in times of great need.^[1] ^[2]However it is generally believed that the first one was created in the latter half of the 15th century, at the instigation of the pious Father Barnabs of Terni. ^[3]Mont de piéte was originally created by Christians to undercut Jewish banks. Being an alternative to Jewish banks, the mont de piété was created initially out of the kindness of Christians hearts,to counter Jewish usuary and ultimately in order to help those in need.^[4]

[edit] Impact on Society

The mont de piété was originally made as an alternative for Jewish banks, however as time went on it resemble the so called evil it was trying to prevent. Fees began to be charged on loans. Charities are suppose to be non-profit. Thus this charity had turned into a bank. It was made to prevent usury, but only supplied usury to happen. However not by the Jewish banks, but by the so called charity.

Since the mont de piété was made for Christianity, it would only lend to Christians which allegedly resulted in conversions.

Some Catholic charity of the sixteenth century would therefore speak of mont de piété as being redemptive-meant to convert sinners and unbelievers- rather than supportive- made to maintain the respectable poor. On the other hand, it was a measure toleration of sin for the greater good of the community and ultimately the world. However a sin was still made. Sinning to help out others does not represent what Christianity truly explains.

Due to the mont de piété being a charity run by Christianity, the workers were originally volunteers and charged nothing. However the staff would never work efficiently and were never reliable. This is what lead to the workers being paid.

In the beginning, the mont de piété was made as a form of welfare for Christianity, but as time went on it was used by many in order for them to gamble. However when people, there usually a slight chance that one would win. Usually people who take these loans, would only lose money and would take more loans so they could break even. The caused gamblers to obtain only a higher debt to pay, thus displaying the evil system the Mont de Piet had made for society.

In addition this charity was meant for the poor, however most of the people that took loans were high class people. Charities are not suppose to be for those who do not need it. One could feel that this charity, was once truthful when no interest was made on loans, but once interest introduced, this charity became corrupted. Evidently non Christian values displayed what the mont de piété really was in society in the past and even in the present.

[edit] Mont de Piété in the World

Mont de piété has occurred in France, Italy, Spain, Germany, Russia, China, the Netherlands, Ireland and Belgium. Mont de piété regardless of what country were all basically practiced in the same manner. The only difference between countries was the fact that there interest rates were either very high or very low for a so called charitable cause. Some countries initially had no interest, but as time went on interest rates began to arise. Thus displaying that regardless of place the mont de piete was in, greed still took its part on people that were lending the money, that were essentially suppose to lend the money out of the kindness of their hearts.

This system is still in place in Germany, Belgium, Russia, the Netherlands and France. Moreover, mont de piété has no longer be regarded as a charity in the world, but simply as a pawn office.

[edit] Interesting Facts

China is said to have very ancient institutions that were similar to the system of mont de piété in Europe. However the mont de piété in China seemed to be have more charitable principles than those of Europe. The rate of interest there was lower than European rates, being only from 2 percent to 3 percent.
It is said that 'mont de piété derives from the hill upon which it was situated. However other scholars believe that the name derives from the endless of funding it had, due to mont meaning mountain in Latin. In addition other scholars believe it literally means accumulation of wealth or money.
At various mont de piété across the world, receipts were given out to the bearer in the 19th century and had 12 months to pay the loan.
As more mont de piétés were created, Jewish banks were destroyed purposely and Jewish communities were dispersed. These was an objective of not only the people who ran the charity, but also by the government. Laws were implemented so mont de piété would have no real competition. This could make one feel that this one not a real charity but a business.
During the 17th century, the mont de piété in France had a interest rate of 15 percent. If the mont de piété was truly a charity, then the funders of the charity would not be making money off the poor.

[edit] Notes

[edit] References

"Montest Pietatis" in F. L. Cross and David Livingstone, eds. The Oxford Dictionary of the Christian Church. New York: OUP, 1974. p. 935.

Pullan, Brian S. “Catholics, Protestants, and the Poor in Early Modern Europe.” Project Muse: Scholarly Journals Online (2005). 20 March 2008.

<http://muse.jhu.edu/journals/journal_of_interdisciplinary_history/v035/35.3pullan.html>.

Myers, Susan E.; J. Stevens. “Friars and Jews in the Middle Ages and Renaissance.” 2004: 1-281. Google Book Search. Book Search. 20 March 2008.

<http://books.google.ca/books?id=RTUugDNpMzYC&pg=RA1-PA249&lpg=RA1-PA249&dq=monti+di+piet%C3%A0&source=web&ots=-PWYl1caUR&sig=OTCSoklxPliyIGGJ0uemGRPgizc&hl=en#PRA1-PA241,M1>.

Ripley, George; Dana, A. Charles. “The New American Cyclopaedia: A Popular Dictionary.” The New American Cyclopaedia: A Popular Dictionary Volume. 11. 1861: 660-661. Google Books. Google Book Search. University of Michigan, Michigan. 21 March 2008.

<http://books.google.com/books?id=9mJMAAAAMAAJ&pg=PA670&dq=monte+de+piete#PPA670,M1.>

Making of America. “How they live at Paris.” Putman’s Monthly Volume 9 1857: 12-257. Google Books. Google Book Search. Harvard University, Massachusetts. 21 March 2008.

<http://books.google.com/books?id=xVYAAAAAYAAJ&pg=PA257&dq=mont+de+piete#PPA257,M1.>