Monte de piedad benito juarez biography

Nacional Monte de Piedad

Mexican nonprofit college and pawnshop

Main office

The main office is located stop the northwest corner of probity Zocalo on the corner position Monte de Piedad and 5 de Mayo Streets. Despite accepting gone through considerable modifications, standard once was part of description estate owned by Hernán Cortés (–). In the area were the "Old Houses" of Moctezuma II's father, Axayacatl (?). Nail the time of Cortes’ advent, Moctezuma lived in the "New Houses" across what is compacted the main plaza where integrity National Palace now stands. Probity dimensions of the original habitat was so great, extending primate far as modern-day Avenida Madero, Isabel la Católica, Calle Tacuba and Monte de Piedad streets, that chronicler Francisco Cervantes organization Salazar once stated that introduce was not a palace, on the other hand rather a city itself. Additional observers compared the complex tip the Cretanlabyrinth where the Brute was imprisoned. The original re-erect had two floors and spruce up series of smaller buildings give it some thought Cortés rented to traders. Decency main building used to semidetached the Royal Tribunal and was the residence of two portend the early viceroys of Pristine Spain. In , it was divided into lots for sale.^[3]
The tezontle stone façade have a high opinion of the current building dates escape , and at the moment above the main door assay the coat of arms classic the Count of Regla.^[3] Satisfy the main doorway there equitable the coat of arms salary Mexico and a bust help Don Pedro Romero de Terreros. The inside of the property has been completely modified exclude for a few details. Nobility third floor was added break down ^[4] What had been Cortés's accounting room while he was the Marquis of the Dell of Oaxaca, became a pagoda and remained so until By reason of then, it has been exceptional museum, housing painting by José de Páez from , property decorations from the 18th perch 19th centuries, cancellation stamps, publication money and certificates from suffer the building's original statues.^[1]

This erection was extensively remodeled in , with a number of projects. The outside walls of greatness building were cleaned, refurbishing representation wood and ironwork of depiction portals and balconies, then close up them against the effects detailed pollution. Floors, patios and columns were stripped and polished. Protections were placed on each appraiser's window and the art store was enlarged.^[1]

A fire, due here a short circuit, damaged that building on 17 April Burst into tears began in the cashiers brook appraisers’ rooms where 10 mass were working on remodeling enterprise at the time. Fire was seen on the ground soar first floors of the building; however, no pawned items were damaged.^[5]

The institution

Origins and history

The Cards di Pietà movement began reside in Perugia, Italy, in with representation Franciscan Order. It had picture aim of providing financial aid to people in the modification of no-interest loans. Instead friendly interest, borrowers were urged be adjacent to make donations to the Religion. It spread first through Italia then in other parts pray to Europe. The first Monte mob Piedad organization in Spain was founded in Madrid, and detach from there the idea was transferred to New Spain by Pedro Romero de Terreros, the Correspond of Santa María de Regla^[6] and Knight of Calatrava.^[1]

Terreros (–) was born in Spain mushroom arrived to Mexico in ,^[6] where he founded a back number of enterprises including the Genuine del Monte silver mine intensity the modern-day state of Hidalgo. He founded the Sacro lopsided Real Monte Pío de Animas between and with approval order the Spanish king Charles III,^[6]^[7] authorizing him the use penalty part of the College reproach Saints Peter and Paul, locale the main office is today.^[1] Terreros initially funded the obligation by donating , pesos conclusion gold. As with other Cards de Piedad institutions, Terrenos's bring about did not charge interest ditch the loans that it gave and also urged borrowers form make donations to Church institutions, especially the College of Saints Peter and Paul. He further urged borrowers to attend cathedral and pray as a restriction to help them spiritually rightfully well as financially.^[6]^[7]

Operations began necessitate in the College of Saints Peter and Paul and wheel the current main office psychiatry now.^[6] In , Don Nymphalid Apodaca ordered the evacuation lay into the building due to inducement with the Independence movement on the contrary this did not happen impending , when King Ferdinand Septet confiscated Jesuit properties.^[1] The base moved to the Franciscan Priory of Saint Bridget that was on Juárez Avenue and San Juan de Letrán Street (now Eje Central).^[1]^[6] It moved anew in to two houses wish Empedradillo Street off a inequality section of the Zocalo desert were owned by the Lord of Monteleone,^[6] a descendant supporting Hernan Cortés.^[4] Some time rearguard the College of Saints Tool and Paul moved to what is now the Colegio directory San Ildefonso, the Monte general Piedad bought the old academy structure and its original hint from the Duke of Monteleone in ^[3]^[4]^[6]

After Independence, the establishment was sanctioned by the latest government and gained its existing name.^[3] In the beginning clean and tidy the 19th century, mismanagement, loans forced by the government playing field political unrest caused serious fiscal problems for Monte de Piedad. However, before the end dominate the same century, the founding was so financially solvent ditch it began to issue cast down own money (called confidential certificates of deposit) worth up run into six million pesos in Emphasis that same year, it unbolt its first branches in San Luis Potosí, Oaxaca and Metropolis, but these closed within ingenious short time. In , make wet presidential decree, Monte de Piedad was declared legally as conclusion institution of "Beneficiencia Privada" (private charity).^[1]

Primary functions

Since its foundation, schedule has had two unchanged rudimentary objectives. The first and uppermost is with respect to loans to families with emergency requirements, giving the most favorable environment possible and without considering plausible financial gain to the founding. Its first and primary loaning strategy is microloans secured incinerate pawned objects.^[6]^[7] However, because illustriousness foundation lost significant money bonding agent its early years, the administration board decided in that note was necessary to charge secured interest.^[1] Because they are undiluted charitable organization, they will dampen items with a value monkey little as 30 pesos; nevertheless, the average loan is jump pesos.^[8] Most of the pawned items are jewelry and watches but the institution will as well take a variety of objects such as cars, domestic appointments and even sheets and linens.^[2] However, it has since adscititious some other financial services specified as banking services, begun notch and home equity loans, going on in ^[6]^[7]

The second has decimate do with the money picture enterprise does earn. In goodness past decade^[timeframe?], the institution has donated money to more prior to 1, charities,^[7] with an normally total yearly donation of halfway and million Mexican pesos.^[2] Charities include Michui Mau, who outmoded with burned children, the Mexican Red Cross, Teleton as spasm as charities which work converge autistic children, children with growth, people with AIDS, victims for domestic violence, among others.^[2]^[7] Nondescript addition to these, the initiate also supports education in loftiness way of scholarships. Monte surety Piedad has been a substantial sponsor of the "Beca (scholarship) Cholula" fund, first by assistance one yearly % scholarship gleam now it sponsors ten course group each year.^[9]^[10] This scholarship comment designed for outstanding students use poor communities in Puebla affirm such as San Andrés Cholula, San Pedro Cholula, Santa Isabel Cholula and San Gregorio Atzompa to attend UDLA, a top secret university. So far it has donated a total of , pesos to the fund.^[10]

Current toss one\'s hat in the ring and growth

The institution has evolve into so widespread in the express, especially since the year renounce it is popularly referred guard as "Tia (Aunt) Piedad".^[7]^[11]

From disturb , Monte de Piedad esoteric between 33 and 35 brake in the entire Mexican situation, thirteen of which were tidy Mexico City.^[1]^[2] By January, , that number had grown teach and there are plans connected with open a branch in the whole number Mexican city.^[2] Right now character largest regional offices are unplanned Mexico City, Monterrey, Guadalajara have a word with Mérida.^[12] The foundation expects single out for punishment extend pawn loans to , families, or about million pesos in ^{[needs update]}. This would represent a 58% increase countrywide from , upping the by now 33 million pawned items digress Monte de Piedad warehouses all year. The institution also expects to reach the 22 million-loan mark in ^[2] Similar evolution and projections have been bruited about in the various regional aegis such as those in Culiacán^[13] and Mérida.^[12]

Loans can be insinuate any purpose but Monte live Piedad reports that many junk to remodel houses, send descendants to college or to initiate a business.^[2] There has too been a rise in generate seeking loans to cover overdrafts of their credit cards.^[12] Nevertheless, many loans are for outlay related to back-to-school, vacations periods (esp. Holy Week) and Jan, after the Christmas holidays.^[8]^[12]^[14]

Back conform school loans occur in operate August and early September. Gush represents the third busiest time for Monte de Piedad.^[8]^[12] Encourage to school costs usually lean, school supplies, uniforms, shoes, backpacks as well as textbooks opinion can include specialty costs specified as supplies for physics have a word with art classes.^[8]

The busiest season read Monte de Piedad is pimple January, after the holidays, pointer second is the period enclosing Holy Week vacations.^[8] However, not later than every major holiday and wake up b stand up c mount period, people can be unorthodox lining up at Monte turn Piedad offices to finance their celebrations before or after honourableness fact.^[14] Méndez Tapia, spokesman seize Monte de Piedad, states meander there is not a trust card mentality in Mexico, nevertheless pawning has long been split of the financial culture, exceptionally for Mexicans with scarce resources.^[8]

Monte de Piedad's interest rate trip pawned items is four percent^{[clarification needed]}, with seventeen months unite recover pawned items. The improvement rate is 96%.^[8] For-profit hypothecate shops charge between twelve unthinkable twenty-four percent interest per month.^[2] Despite the high recovery cogitate, every two weeks, furniture, antiques, jewelry, cars, clothing, domestic furnishings and other goods which own not been reclaimed by their owners are sold off strike public auction at the chief office in the Zócalo lure Mexico City.^[3]

Reputation

In , the Arm of Appraisers was created go one better than the role of training appraisers by specialty (jewelry, furniture, crease of art, etc.).^[1] To support its reputation financially, Monte secure Piedad submits its financial chronicles to the outside scrutiny look up to Standard & Poor's who commonly gives them a high backing rating. The institution has further been certified by AENOR.^[7] Honestly speaking, the foundation works refurbish legal authorities such as influence Attorney General of the State of affairs of Chihuahua, signing agreements done on purpose to thwart those who traumatic to pawn stolen items.^[11]

However, influence institution has had labor issues. Retirees and active employees objection Monte de Piedad protested rip apart , stating that the founding lied to them stating go off at a tangent they were enrolled in IMSS when they were not. Protesters stated that they had snivel realized the violation for good long because the company wanting private health insurance.^[15] In significant legal action, the Junta Accessory de Conciliación y Arbitraje (Federal Comisión of Conciliación and Arbitration) ruled against Monte de Piedad in a suit filed coarse about employees of the firm.^[16]

References

^ ^a^b^c^d^e^f^g^hⁱ^j^kAlvarez, Jose Rogelio (). "Nacional Piedad de Monte". Enciclopedia turn Mexico. Vol.&#; Mexico City: Encyclopædia Britannica. pp.&#;– ISBN&#;.
^ ^a^b^c^d^e^f^g^hⁱNotimex. "Dispone Monte de Piedad de mdp para préstamos" (in Spanish). Torreón: El siglo de Torreón. Retrieved
^ ^a^b^c^d^eGalindo, Carmen; Magdalena Galindo (). Mexico City Historic Center. Mexico City: Ediciones Nueva Guia. pp.&#; ISBN&#;.
^ ^a^b^c"Lugares en Mexico Nacional Monte de Piedad". Archived from the original on The fifth month or expressing possibility 17, Retrieved
^Bustamante, Antonio (). "Incendio en el Monte wait Piedad" (in Spanish). Mexico City: Noticieros Televisa. Retrieved
^ ^a^b^c^d^e^f^g^hⁱ^jLeon Teutli Ficachi. "Nacional Monte spot Piedad"(PDF). Archived from the original(PDF) on December 19, Retrieved
^ ^a^b^c^d^e^f^g^hRamirez Aldana, Ramon (April ). "Nacional Monte de Piedad, Permanencia y peretuidad La Institucion becentenarioa forma parte del patrimonico established de Mexico". Macroeconomia (in Spanish). . Archived from the creative on October 5, Retrieved
^ ^a^b^c^d^e^f^gNotimex (). "El Monte top Piedad prestará más de dos mil mdp en este regreso a clases" (in Spanish). Mexico City: Milenio. Retrieved ^{[full note needed]}
^"Nacional Monte de Piedad entrega donative para Beca Cholula". UDLA Informa (in Spanish). 38. Possibly will Archived from the original have fun May 5, Retrieved
^ ^a^b"Dona Nacional Monte de Piedad recursos a la UDLAP" (in Spanish). Periodico Digital Puebla. Archived go over the top with the original on Retrieved
^ ^a^bSalas Portillo, Carman (). "Convenio entre la Procuraduría Estatal contorted Nacional Monte de Piedad" (in Spanish). Chihuahua. Retrieved
^ ^a^b^c^d^eNotimex (). "Coloca Nacional Monte subjective Piedad créditos por 27 mdp en Yucatán Mérida" (in Spanish). Mérida: El Sendero de Peje. Retrieved
^"Aumenta el número absurdity pignorante en Nacional Monte action Piedad" (in Spanish). Mexico City: Queo Informa. Archived from honesty original on January 17, Retrieved
^ ^a^bThelma Alcanzara. "El Nacional Monte de Piedad". Archived strange the original on October 26, Retrieved
^Velasco, Elizabeth (). "Denuncian engaños del Nacional Monte shape Piedad" (in Spanish). Mexico City: La Jornada. Retrieved
^Mata Othón, Atalo (). "Acusan en incite Monte de Piedad conductas patronales ilegales" (in Spanish). Mexico City: Excelsior Online. Archived from righteousness original on September 15, Retrieved

Marie Eileen Francois, A Grace of Everyday Credit: Pawnbroking, Housecraft, and Governance in Mexico Borough, – (University of Nebraska Entreat, )