offered? I feel convinced that as soou as you do become acquainted with it you will draw me a cheque for the money. I presume, from your remarks on these duplicates, that you have not had much experience in dealing with that obliging relative—our Uncle!’
“‘No,’ I said, ‘thank Providence, I have never been inside a pawnbroker’s shop yet, Mr. Peterson.’
“‘Fortunate man!’ he returned, shrugging his shoulders; ‘I wish I could say as much.’
“I began to get fidgetty,” said Mr. Perkbody. “I did not want to be negotiating with a man confessing an intimate acquaintance with the ins and outs of pawn-shops, but the fellow would persist in going on.”
“‘Come, sir,’ he said, ‘you have surely had sufficient knowledge of the world to be aware of the fact that the old gentleman requires good security for his money.’
“‘I have always been given to understand, sir,’ I said, shortly, ‘that you cannot pawn an article for its full value, if that is what you mean by your ambiguous phrases. That is only business.’
“‘I am glad you have followed me thus far,’ he said, ‘and that you clearly understand this point. I am quite sure,’ he added, playfully, ‘I have now loosened one of your purse-strings.’
“‘On the contrary, I intend to button my pocket the closer,’ suiting the action to the word.
“‘Now,’ said he, in continuation, ‘here are ten duplicates for goods pledged for 82l. 10s., and I will give you my word of honour, as a gentleman, that they are fairly worth 80l, more than they are pledged for. That makes four times the amount of your advance.’
“‘You have not got it yet,’ I replied.
“‘But I shall,’ he returned. ‘Here are, in addition, five agreements for goods in for 120l., and the margin on them is at least 75l. So you have a security of above 150l. for an advance of 20l. in addition to my bill at a month.’ And he said this in a tone of assurance that was intended to give me to understand that his bill, without any additional security was quite enough for ten times the amount.
“‘But what are these agreements?’ I inquired; ‘do they relate to advances by pawnbrokers?’
“‘Your imperfect knowledge of these securities naturally suggests the question,’ said Mr. Peterson. ‘The law is this—pawnbrokers can only advance 10l. on one duplicate, and amounts above 10l. are arranged in this way. An agreement is entered into to repay the amount at a stipulated period, say three, six, or nine months, and in case the articles are not redeemed, the person advancing the money of course claims the goods. I hope you are now satisfied. I have a bill-stamp in my pocket, and you will oblige me with a pen and ink.’
“‘No, sir,’ I said, decidedly, ‘I am not satisfied.’
“‘You are hard to please,’ he replied, ‘but it is well to be open and candid between gentlemen, and I am persuaded that you will let me have the money in the end. I will tell you what I want this advance for. I have unfortunately got a large amount owing me at present, which I cannot realise in a day or two, and I have also a valuable lot of diamonds in for 50l., for which I have a market, and as diamonds are getting up rapidly, I don’t want them to lie idle. We must turn our money, or I could not allow you such a liberal bonus. However, if I get them out, I shall be putting a couple of hundreds into circulation, and can easily pay you when the month is up.’
“‘Is your shop at this address?’ I inquired, referring to his card.
“‘I have no shop,’ he replied, ‘but a private connection for the disposal of my goods. It does not answer my purpose to pay ten per cent. for the use of other people’s goods, besides paying a heavy rent for a jeweller’s shop.’”
“‘But do jewellers pay for the use of other people’s goods?’
“‘I assure you,’ said Mr. Peterson—whether the scamp was telling a falsehood I cannot say—but he told me that hundreds of jewellers’ shop windows are stocked with goods hired for the purpose at a heavy percentage.
“‘And where,’ said I, determined to sift Mr. Peterson to the bottom, ‘where do you purchase your goods?’
“‘Really’ he replied, ‘you are too inquisitive, sir,—you are indeed. I see I must let out all our trade secrets before I can soften your obdurate heart. Well, sir, I attend the great auction-rooms, and pick up with friends in the trade as good bargains as I can. And as the constant attendance at these rooms requires a considerable amount of capital, we are sometimes compelled to raise money on our stocks in hand. Surely you are satisfied now?’
“‘Your statements may be very correct,’ I said, ‘but supposing, by any unforeseen circumstance, you should not be able to meet the bill when it comes due, I shall be compelled to redeem these goods, which would take a large sum of money.’
“He laughed at this as being an idea too ridiculous to be entertained.
“‘Don’t flatter yourself that I shall give you the opportunity. The stake left is too great for me to sacrifice. Do reflect for one moment. Pawnbrokers, as a class, are proverbial for shrewdness in matters of business, and is it likely that they will advance the borrower the full value of the article in pledge? Why, my dear sir, you admitted this at the commencement of our conversation, and I am quite sure if you did not thoroughly believe it, you would have requested me long before this to retire.’
“The bonus of 7l. l0s. for the use of 20l. for a month,” said Mr. Perkbody, “was, as you see, a large one, and I could not clearly understand how Mr. Peterson could well pay so much for the accommodation. He seemed to read my thoughts, for he said:
“‘You may perhaps ask me how I can pay 7l. 10s. for the loan of 20l? Now, if I can make 20l. of the money in the time I shall be a gainer by 12l. 10s. But I can make 20l. or 25l. by the sale of the diamonds, and benefit myself and you by the transaction.’
