This beneficial institution was always opposed in France; chiefly because the doctors of the Sorbonne could not divest themselves of the prejudice against interest; and some in modern times who undertook there to accommodate people with money on the like terms, were punished by government[57]. A lending-house however was established at Paris under Louis XIII., in 1626; but the managers next year were obliged to abandon it[58]. In 1695, some persons formed a capital at Marseilles for the purpose of establishing one there according to the plan of those in Italy[59]. The present _mont de piété_ at Paris, which has sometimes in its possession forty casks filled with gold watches that have been pledged, was, by royal command, first established in 1777[60]. [The following is the rate of profit or interest which pawnbrokers in this country are entitled to charge per calendar month. For 2_s._ 6_d._ one halfpenny; 5_s._ one penny; 7_s._ 6_d._ three halfpence; 10_s._ twopence; 12_s._ 6_d._ twopence halfpenny; 15_s._ threepence; 17_s._ 6_d._ threepence halfpenny; £1 fourpence; and so on progressively and in proportion for any sum not exceeding 40_s._ For every sum exceeding 40_s._ and not exceeding 42_s._ eightpence; and for every sum exceeding 42_s._ and not exceeding £10, threepence to every pound, and so on in proportion for any fractional sum. Where any intermediate sum lent on a pledge exceeds 2_s._ 6_d._ and does not exceed 40_s._, a sum of fourpence may be charged in proportion to each £1. Goods pawned are forfeited on the expiration of a year, exclusive of the date of pawning. But it has been held that the property is not transferred, but that the pawnbroker merely has a right to sell the article; and consequently that, on a claim after this period, with tender of principal and interest, the property must be restored if unsold (Walker _v._ Smith, 5 _Barn._ and _Ald._ 439). Pledges must not be taken from persons intoxicated or under twelve years of age. In Great Britain pawnbrokers must take out a license, which costs £15 within the limits of the old twopenny-post, and £7 10_s._ in other parts. No license is required in Ireland. A second license, which costs £5 15_s._, is required to take in pledge articles of gold and silver.