Ecclesiastical and particular Mounts of Mercy [Montes de Piedad] [S. XVIII-XIX]: Monetary uses

Abstract

Montes de Piedad (Mounts of Mercy), beneficial-credit institutions, arise in Italy (S. XV) to initiative of Franciscans preachers, with the objective to provide loans on pignoratious guarantees to an interest lower than the demanded by the moneylenders. This type of institution propagates immediately by all Italian geography, and going beyond its borders will arrive at other European zones, among them to the Iberian Peninsula. Within the Hispanic monarchy in the beginnings of century XVIII the foundation of Monte de Piedad of Madrid takes place, by Piquer Father who will be inheriting of the spirit and objectives of primitive Italian predecessors and will include some new features as a result of the devotion of their founder and the particularities of that time. This Monte will serve as a model for other similar institutions as much in the peninsula as in the American virreinatos. With time, a series of new foundations will take place, bearing the same denomination (all will take by name Monte de Piedad), but with important differences in their constitutions and aims. These foundations arise as much in ecclesiastical as secular scope. The analysis of some of these institutions is the objective of the present study, differentiating ecclesiastical and secular foundations (in these last ones a further difference is made for the ones founded by members of the nobility). Starting off from original texts, the particular or general objectives and their beneficial aims are analyzed and different aspects related to their start up, lawsuits, use for aims different from the indicated ones in their foundation, etc.