A History of Inventions, Discoveries, and Origins, Volume II (of 2)

The first mention of a lending-house in Germany, which I have as yet met with, is to be found in the permission granted by the emperor Maximilian I. to the citizens of Nuremberg, in the year 1498, to drive the Jews from the city, and to establish an exchange-bank. The permission further stated, “That they should provide for their bank proper managers, clerks, and other persons to conduct it according to their pleasure, or as necessity might require; that such of their fellow-citizens as were not able to carry on their trades, callings, and occupations without borrowing and without pledging their effects, should, on demand, according to their trade and circumstances, receive money, for which pledges, caution and security should be taken; that at the time of payment a certain sum should be exacted by way of interest; that the clerks and conductors of the bank should receive salaries for their service from the interest; and that if any surplus remained it should be employed for the common use of the city of Nuremberg, like any other public fund.”

It here appears that the lending-houses in Germany were first known under the name of exchange-banks, by which was before understood any bank where money was lent and exchanged; but it does not thence follow, as Professor Fischer thinks47, that they were an Italian invention. The citizens of Nuremberg had not then a lending-house, nor was one established there till the year 1618. At that period they procured from Italy copies of the regulations drawn up for various houses of this kind, in order to select the best. Those of the city of Augsburg however were the grounds on which they built, and they sent thither the persons chosen to manage their lending-house, that they might make themselves fully acquainted with the nature of the establishment at that place48. In the year 1591, the magistrates of Augsburg had prohibited the Jews to lend money, or to take pledges; at the same time they granted 30,000 florins as a fund to establish a lending-house, and the regulations of it were published in 160749.

In the Netherlands, France and England, lending-houses were first known under the name of Lombards, the origin of which is evident. It is well known that in the thirteenth and following centuries many opulent merchants of Italy, which at those periods was almost the only part of Europe that carried on an extensive trade, were invited to these countries, where there were few mercantile people able to engage deeply in commerce. For this reason they were favoured by governments in most of the large cities; but in the course of time they became objects of universal hatred, because they exercised the most oppressive usury, by lending at interest and on pledges. They were called Longobardi or Lombardi, as whole nations are often named after a part of their country, in the same manner as all the Helvetians are called Swiss, and the Russians sometimes Moscovites. They were, however, called frequently also Caorcini, Caturcini, Caursini, Cawarsini, Cawartini, Bardi, and Amanati; names, which in all probability arose from some of their greatest houses or banks. We know, at any rate, that about those periods the family of the Corsini were in great consideration at Florence. They had banks in the principal towns for lending money; they demanded exorbitant interest; and they received pledges at a low value, and retained them as their own property if not redeemed at the stated time. They eluded the prohibition of the church against interest when they found it necessary, by causing the interest to be previously paid as a present or a premium; and it appears that some sovereigns borrowed money from them on these conditions. In this manner did Edward III. king of England, when travelling through France in the year 1329, receive 5000 marks from the bank of the Bardi, and give then in return, by way of acknowledgement, a bond for 700050. When complaints against the usurious practices of these Christian Jews became too loud to be disregarded, they were threatened with expulsion from the country, and those who had rendered themselves most obnoxious on that account, were often banished, so that those who remained were obliged to conduct themselves in their business with more prudence and moderation. It is probable that the commerce of these countries was then in too infant a state to dispense altogether with the assistance of these foreigners. In this manner were they treated by Louis IX. in 1268, and likewise by Philip the Bold; and sometimes the popes, who would not authorise interest, lent their assistance by prohibitions, as was the case in regard to Henry III. of England in 1240.

In the fourteenth century, the Lombards in the Netherlands paid to government rent for the houses in which they carried on their money transactions, and something besides for a permission. Of this we have instances at Delft in 1313, and at Dordrecht in 134251. As in the course of time the original Lombards became extinct, these houses were let, with the same permission, for the like employment52; but governments at length fixed the rate of interest which they ought to receive, and established regulations for them, by which usurious practices were restrained. Of leases granted on such conditions, an instance occurs at Delft in the year 1655. In 1578, William prince of Orange recommended to the magistrates of Amsterdam Francis Masasia, one of the Lombards, as they were then called, in order that he might obtain for him permission to establish a lending-house53, as many obtained permission to keep billiard-tables, and Jews letters of protection. In the year 1611, the proprietor of such a house at Amsterdam, who during the latter part of his lease had gained by his capital at least thirty-three and a half per cent., offered a very large sum for a renewal of his permission; but in 1614, the city resolved to take the lombard or lending-house into their own hands, or to establish one of the same kind. However odious this plan might be, a dispute arose respecting the legality of it, which Marets54 and Claude Saumaise endeavoured to support. The public lending-house or lombard at Brussels was established in 1619; that at Antwerp in 1620, and that at Ghent in 1622. All these were established by the archduke Albert, when he entered on the governorship, with the advice of the archbishop of Mechlin; and on this occasion the architect Wenceslaus Coberger was employed, and appointed inspector-general of all the lending-houses in the Spanish Netherlands55. Some Italians assert that the Flemings were the first people who borrowed money on interest for their lending-houses; and they tell us that this practice began in the year 161956. We are assured also, that after a long deliberation at Brussels, it was at length resolved to receive money on interest at the lending-houses. It however appears certain that in Italy this was never done, or at least not till a late period, and that the capitals of the lending-houses there were amassed without giving interest.

This beneficial institution was always opposed in France; chiefly because the doctors of the Sorbonne could not divest themselves of the prejudice against interest; and some in modern times who undertook there to accommodate people with money on the like terms, were punished by government57. A lending-house however was established at Paris under Louis XIII., in 1626; but the managers next year were obliged to abandon it58. In 1695, some persons formed a capital at Marseilles for the purpose of establishing one there according to the plan of those in Italy59. The present mont de piété at Paris, which has sometimes in its possession forty casks filled with gold watches that have been pledged, was, by royal command, first established in 177760.

[The following is the rate of profit or interest which pawnbrokers in this country are entitled to charge per calendar month. For 2s. 6d. one halfpenny; 5s. one penny; 7s. 6d. three halfpence; 10s. twopence; 12s. 6d. twopence halfpenny; 15s. threepence; 17s. 6d. threepence halfpenny; £1 fourpence; and so on progressively and in proportion for any sum not exceeding 40s. For every sum exceeding 40s. and not exceeding 42s. eightpence; and for every sum exceeding 42s. and not exceeding £10, threepence to every pound, and so on in proportion for any fractional sum. Where any intermediate sum lent on a pledge exceeds 2s. 6d. and does not exceed 40s., a sum of fourpence may be charged in proportion to each £1. Goods pawned are forfeited on the expiration of a year, exclusive of the date of pawning. But it has been held that the property is not transferred, but that the pawnbroker merely has a right to sell the article; and consequently that, on a claim after this period, with tender of principal and interest, the property must be restored if unsold (Walker v. Smith, 5 Barn. and Ald. 439). Pledges must not be taken from persons intoxicated or under twelve years of age. In Great Britain pawnbrokers must take out a license, which costs £15 within the limits of the old twopenny-post, and £7 10s. in other parts. No license is required in Ireland. A second license, which costs £5 15s., is required to take in pledge articles of gold and silver.

From 1833 to 1838 the number of pawnbrokers in the metropolitan district increased from 368 to 386; in the rest of England and Wales, from 1083 to 1194; and in Scotland, from 52 to 88; making a total of 1668 establishments, paying £15,419 for their licenses, besides the licenses which many of them take out as dealers in gold and silver. The business of a pawnbroker was not known in Glasgow until August 1806, when an itinerant English pawnbroker commenced business in a single room, but decamped at the end of six months; and his place was not supplied until June 1813, when the first regular office was established in the west of Scotland for receiving goods in pawn. Other individuals soon entered the business, and the practice of pawning had become so common, that in 1820, in a season of distress, 2043 heads of families pawned 7380 articles, on which they raised £739 5s. 6d. Of these heads of families 1375 had never applied for or received charity of any description; 474 received occasional aid from the relief committee, and 194 were paupers. The capital invested in this business in 1840 was about £26,000. Nine-tenths of the articles pledged are redeemed within the legal period. There are no means of ascertaining the exact number of pawnbrokers’ establishments in the large towns of England. In 1831, the number of males above the age of twenty employed in those at Manchester was 107; at Liverpool, 91; Birmingham, 54; Bristol, 33; Sheffield, 31.

The following curious return was made by a large pawnbroking establishment at Glasgow to Dr. Cleland, who read it before the British Association in 1836. The list comprised the following articles: – 539 men’s coats, 355 vests, 288 pairs of trowsers, 84 pairs of stockings, 1980 women’s gowns, 540 petticoats, 132 wrappers, 123 duffies, 90 pelisses, 240 silk handkerchiefs, 294 shirts and shifts, 60 hats, 84 bed-ticks, 108 pillows, 262 pairs of blankets, 300 pairs of sheets, 162 bed-covers, 36 tablecloths, 48 umbrellas, 102 bibles, 204 watches, 216 rings, and 48 Waterloo medals. There were about thirty pawnbrokers in Glasgow in 1840. In the manufacturing districts, during the prevalence of strikes, or in seasons of commercial embarrassment, many hundreds of families pawn the greater part of their wearing apparel and household furniture. The practice of having recourse to the pawnbrokers on such occasions is quite of a different character from the habits of dependence into which many of the working classes suffer themselves to fall, and who, “on being paid their wages on the Saturday, are in the habit of taking their holiday clothes out of the hands of the pawnbroker to enable them to appear respectably on the Sabbath, and on the Monday following they are again pawned and a fresh loan obtained to meet the exigencies of their families for the remainder of the week.” It is on these transactions and on such as arise out of the desire of obtaining some momentary gratification that the pawnbrokers make their large profits. It is stated in one of the reports on the poor laws that a loan of threepence, if redeemed the same day, pays annual interest at the rate of 5200 per cent.; weekly, 866 per cent.;

4d., annual interest 3900 per cent., or 650 p. c. weekly;

12d., annual interest 1300 per cent., or 216 p. c. weekly.

It is stated that on a capital of sixpence thus employed (in weekly loans), pawnbrokers make in twelve months 2s. 2d.; on five shillings they gain 10s. 4d.; on ten shillings, 22s. 3¼d.; and on twenty shillings lent in weekly loans of sixpence, they more than double their capital in twenty-seven weeks, and should the goods pawned remain in their hands for the term of twelve months (which seldom occurs), they then frequently derive 100 per cent.61]

CHEMICAL NAMES OF METALS

As those metals earliest known, viz. copper, iron, gold, silver, lead, quicksilver and tin, received the same names as the nearest heavenly bodies, which appear to us largest, and have been distinguished by the like characters, two questions arise: Whether these names and characters were given first to the planets or to the metals? When, where, and on what account were they made choice of; and why were the metals named after the planets, or the planets after the metals? The latter of these questions, in my opinion, cannot be answered with any degree of certainty; but something may be said on the subject, which will not, perhaps, be disagreeable to those fond of such researches, and who have not had an opportunity of examining it.

That the present usual names were first given to the heavenly bodies, and at a later period to the metals, is beyond all doubt; and it is equally certain that they came from the Greeks to the Romans, and from the Romans to us. It can be proved also that older nations gave other names to these heavenly bodies at much earlier periods. The oldest appellations, if we may judge from some examples still preserved, seem to have originated from certain emotions which these bodies excited in the minds of men; and it is not improbable that the planets were by the ancient Egyptians and Persians named after their gods, and that the Greeks only adopted or translated into their own language the names which those nations had given them62. The idea that each planet was the residence of a god, or that they were gods themselves, has arisen, according to the most probable conjecture, from rude nations worshiping the sun, which, on account of his beneficent and necessary influence over all terrestrial bodies, they considered either as the deity himself, or his abode, or, at any rate, as a symbol of him. In the course of time, when heroes and persons who by extraordinary services had rendered their names respected and immortal, received divine honours, particular heavenly bodies, of which the sun, moon and planets seemed the fittest, were also assigned to these divinities63. By what laws this distribution was made, and why one planet was dedicated to Saturn and not to another, Pluche did not venture to determine: and on this point the ancients themselves are not all agreed64. When the planets were once dedicated to the gods, folly, which never stops where it begins, proceeded still further, and ascribed to them the attributes and powers for which the deities, after whom they were named, had been celebrated in the fictions of their mythologists. This in time laid the foundation of astrology; and hence the planet Mars, like the deity of that name, was said to cause and to be fond of war; and Venus to preside over love and its pleasures.

The next question is, Why were the metals divided in the like manner among the gods, and named after them? Of all the conjectures that can be formed in answer to this question, the following appears to me the most probable. The number of the deified planets made the number seven so sacred to the Egyptians, Persians and other nations, that all those things which amounted to the same number, or which could be divided by it without a remainder, were supposed to have an affinity or a likeness to and connexion with each other65. The seven metals, therefore, were considered as having some relationship to the planets, and with them to the gods, and were accordingly named after them. To each god was assigned a metal, the origin and use of which was under his particular providence and government; and to each metal were ascribed the powers and properties of the planet and divinity of the like name; from which arose, in the course of time, many of the ridiculous conceits of the alchemists.

The oldest trace of the division of the metals among the gods is to be found, as far as I know, in the religious worship of the Persians. Origen, in his Refutation of Celsus, who asserted that the seven heavens of the Christians, as well as the ladder which Jacob saw in his dream, had been borrowed from the mysteries of Mithras, says, “Among the Persians the revolutions of the heavenly bodies were represented by seven stairs, which conducted to the same number of gates. The first gate was of lead; the second of tin; the third of copper; the fourth of iron; the fifth of a mixed metal; the sixth of silver, and the seventh of gold. The leaden gate had the slow tedious motion of Saturn; the tin gate the lustre and gentleness of Venus; the third was dedicated to Jupiter; the fourth to Mercury, on account of his strength and fitness for trade; the fifth to Mars; the sixth to the Moon, and the last to the Sun66.” Here then is an evident trace of metallurgic astronomy, as Borrichius calls it, or of the astronomical or mythological nomination of metals, though it differs from that used at present. According to this arrangement, tin belonged to Jupiter, copper to Venus, iron to Mars, and the mixed metal to Mercury. The conjecture of Borrichius, that the transcribers of Origen have, either through ignorance or design, transposed the names of the gods, is highly probable: for if we reflect that in this nomination men at first differed as much as in the nomination of the planets, and that the names given them were only confirmed in the course of time, of which I shall soon produce proofs, it must be allowed that the causes assigned by Origen for his nomination do not well agree with the present reading, and that they appear much juster when the names are disposed in the same manner as that in which we now use them67.

This astrological nomination of metals appears to have been conveyed to the Brahmans in India; for we are informed that a Brahman sent to Apollonius seven rings, distinguished by the names of the seven stars or planets, one of which he was to wear daily on his finger, according to the day of the week68. This can be no otherwise explained than by supposing that he was to wear the gold ring on Sunday; the silver one on Monday; the iron one on Tuesday, and so of the rest. Allusion to this nomination of the metals after the gods occurs here and there in the ancients. Didymus, in his Explanation of the Iliad, calls the planet Mars the iron star. Those who dream of having had anything to do with Mars are by Artemidorus threatened with a chirurgical operation, for this reason, he adds, because Mars signifies iron69. Heraclides says also in his allegories, that Mars was very properly considered as iron; and we are told by Pindar that gold is dedicated to the sun70.

Plato likewise, who studied in Egypt, seems to have admitted this nomination and meaning of the metals. We are at least assured so by Marsilius Ficinus71; but I have been able to find no proof of it, except where he says of the island Atlantis, that the exterior walls were covered with copper and the interior with tin, and that the walls of the citadel were of gold. It is not improbable that Plato adopted this Persian or Egyptian representation, as he assigned the planets to the demons; but perhaps it was first introduced into his system only by his disciples72. They seem, however, to have varied from the nomination used at present; as they dedicated to Venus copper, or brass, the principal component part of which is indeed copper; to Mercury tin; and to Jupiter electrum. The last-mentioned metal was a mixture of gold and silver; and on this account was probably considered to be a distinct metal, because in early periods mankind were unacquainted with the art of separating these noble metals73.

The characters by which the planets and metals are generally expressed when one does not choose to write their names, afford a striking example how readily the mind may be induced to suppose a connexion between things which in reality have no affinity or relation to each other. Antiquaries and astrologers, according to whose opinion the planets were first distinguished by these characters, consider them as the attributes of the deities of the same name. The circle in the earliest periods among the Egyptians was the symbol of divinity and perfection; and seems with great propriety to have been chosen by them as the character of the sun, especially as, when surrounded by small strokes projecting from its circumference, it may form some representation of the emission of rays. The semicircle is in like manner the image of the moon, the only one of the heavenly bodies that appears under that form to the naked eye. The character ♄ is supposed to represent the sythe of Saturn; ♃ the thunderbolts of Jupiter; ♂ the lance of Mars, together with his shield; ♀ the looking-glass of Venus; and ☿ the caduceus or wand of Mercury.

The expression by characters adopted among the older chemists agrees with this mythological signification only in the character assigned to gold. Gold, according to the chemists, was the most perfect of metals, to which all others seemed to be inferior in different degrees. Silver approached nearest to it; but was distinguished only by a semicircle, which, for the more perspicuity, was drawn double, and thence had a greater resemblance to the most remarkable appearance of the moon; the name of which this metal had already obtained. All the other metals, as they seemed to have a greater or less affinity to gold or silver, were distinguished by marks composed of the characters assigned to these precious metals. In the character ☿ the adepts discover gold with a silver colour. The cross placed at the bottom, which among the Egyptian hieroglyphics had a mysterious signification74, expresses, in their opinion, something I know not what, without which quicksilver would be silver or gold. This something is combined also with copper, the possible change of which into gold is expressed by the character ♀. The character ♂ declares the like honourable affinity also; though the half-cross is applied in a more concealed manner; for, according to the most proper mode of writing, the point is wanting at the top, or the upright line ought only to touch the horizontal, and not to intersect it. Philosophical gold is concealed in steel; and on this account it produces such valuable medicines. Of tin one-half is silver, and the other consists of the something unknown: for this reason the cross with the half moon appears in ♃. In lead this something is predominant, and a similitude is observed in it to silver. Hence in its character ♄ the cross stands at the top, and the silver character is only suspended on the right-hand behind it.

The mythological signification of these characters cannot be older than the Grecian mythology; but the chemical may be traced to a much earlier period. Some, who consider them as remains of the Egyptian hieroglyphics75, pretend that they may be discovered on the table of Isis, and employ them as a proof of the high antiquity, if not of the art of making gold, at least of chemistry. We are told also that they correspond with many other characters which the adepts have left us as emblems of their wisdom.

If we are desirous of deciding without prejudice respecting both these explanations, it will be found necessary to make ourselves acquainted with the oldest form of the characters, which in all probability, like those used in writing, were subjected to many changes before they acquired that form which they have at present. I can, however, mention only three learned men, Salmasius76, Du Cange77, and Huet78, who took the trouble to collect these characters. As I am afraid that my readers might be disgusted were I here to insert them, I shall give a short abstract of the conclusion which they form from them; but I must first observe that the oldest manuscripts differ very much in their representation of these characters, either because they were not fully established at the periods when they were written, or because many supposed adepts endeavoured to render their information more enigmatical by wilfully confounding the characters; and it is probable also that many mistakes may have been committed by transcribers.