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The Charitable Corporation was an institution in Britain intended to provide loans at low interest to the deserving poor, including by large-scale pawnbroking. It was established by charter in 1707. Its full title was "Charitable Corporation for the relief of the industrious poor by assisting them with small sums upon pledges at legal interest". It became dishonest, and Smollett called it a "''nefarious corporation''". Certain of the directors speculated wildly and lost most of the shareholders' money. ==Origin== The original object was that small tradesmen might obtain loans by depositing a pledge in the corporation's warehouse, so that they might not have to sell goods at an undervalue when suffering cash flow difficulties. The initial capital was £30,000.〔''The nature of the Charitable Corporation and its relation to trade, considered'' (1732: copy in University of London, Goldsmiths' library; available from Eighteenth Century Collections Online – subscription needed).〕 This was increased to £100,000 in 1722, then £300,000 in 1728, and finally £600,000 in 1730.〔 In effect, the corporation was a pawnbroker. The company published a pamphlet in 1719, setting out its practice. The procedure was that a borrower took goods to one of the corporation's warehouses and signed a bill of sale. The warehouse keeper valued the pledge and he and an assistant signed a certificate. This was passed to the bookeeper for entering in the corporation's accounts, and then to the cashier who paid the borrower his loan. Both the warehouse keeper and the cashier were required to give security, and there were surveyors of warehouses to act as a check on the warehousekeepers. Furthermore the books were signed every night. Unredeemed pledges could be sold after a year. The borrower had not only to pay lawful interest (five per cent), but also fees of a similar amount,〔''Mons Pietatis Londiniensis: a Narrative or Account of the Charitable Corporation'' (London 1719; available from Eighteenth Century Collections Online – subscription needed).〕 so that the company was actually receiving considerably more than "lawful interest".〔'Report of Committee of the House of Commons on ... Charitable Corporation' in ''Reports of Committees of the House of Commons'' I ''1716–1733'', 401–412.〕 These systems should have been sufficient to prevent fraud, but in the late 1720s, compliance with the procedure became lax, opening the way to fraud on a massive scale. The original warehouse was at Duke Street, Westminster,〔''A letter from a member of the House of Commons (one of the Committee appointed to enquire into the affairs of the Charitable Corporation) to his friends ...'' () – From Eighteenth century collections online – subscription required.〕 but was in the company's early years replaced by one at Spring Garden near Charing Cross, London. By the mid-1720s, the main warehouse was in Fenchurch Street, London but that at Spring Garden was retained.〔''Report of Committee of the House of Commons on ... Charitable Corporation'' (1733), 5.〕 The Spring Garden warehouse was on the site of 39–41 Charing Cross.〔 'Nos. 39–41, Charing Cross and the Timber Yard', ''Survey of London'': volume 16: ''St Martin-in-the-Fields I: Charing Cross'' (1935), pp. 75–81.() Date Retrieved 26 November 2009.〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Charitable Corporation」の詳細全文を読む スポンサード リンク
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