Argentina's $18,000,000 state-owned Banco Municipal de Prestamos (pawnshop) paid off again last week. On July 9 (Independence Day), as it does on New Year's Day and May 25 (May Revolution Day), the Banco returned without charge the sewing machines, typewriters, plumber's wrenches and carpenter's tools which Argentina's poor had pawned and were still too poor to redeem.
Operated under stringent federal laws, the pawnshop avoids taking in stolen goods by registering borrowers' identification cards and fingerprints with police headquarters. Proceeds from the sale of pawned goods go to the borrower, less what he owes and a 10% commission. Borrowers, if unable to...
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