504 Measures adopted for putting an 



obliged to mortgage their salaries for many months to 

 come, to raise money to satisfy their clamorous cred- 

 itors ; and from this circumstance, and from the general 

 prevalence of luxury and dissipation among all ranks 

 of society, the anticipation of salaries had become so 

 prevalent, and the conditions upon which money was 

 advanced upon such security was so exorbitant, that 

 this alarming evil called for the most serious attention 

 of the government. 



The interest commonly paid for money advanced 

 upon receipts for salaries was 5 per cent per month, or 

 three kreutzers for the florin ; and there were instances 

 of even much larger interest beins: ffiven. 



The severest laws had been made to prevent these 

 abuses, but means were constantly found to evade 

 them; and, instead of putting an end to the evil, they 

 frequently served rather to increase it. 



It occurred to me that as any tradesman may be 

 ruined by another who can afford to undersell him, 

 so it might be possible to ruin the usurers by setting 

 up the business in opposition to them, and furnishing 

 money to borrowers upon more reasonable terms. In 

 order to make this experiment, a caisse of advance 

 ( VorscJmss Cassa) containing 30,000 florins was estab- 

 lished at the military pay-ofhce, where any person in 

 the actual receipt of a salary or pension under govern- 

 ment in any department of the state, civil or military, 

 might receive in advance, upon his personal applica- 

 tion, his salary or pension for one or for two months 

 upon a deduction of interest at the rate of 5 per cent 

 per ajinum, or one twelfth part of the interest com- 

 monly extorted by the Jews and other usurers upon 

 those occasions. 



