[Illustration: The thieves' exchange--a drinking saloon where
pawnbrokers go to buy stolen goods.]
THE THIEVES' EXCHANGE.
There is, in the Eighth Ward of the City, an "Exchange," where the
light-fingered gentry congregate and interchange confidential
intelligence, the news of their profession, and exchange the stolen
goods temporarily in their possession. Attached to this is the wareroom
of the proprietor, who is simply a receiver of stolen goods. There are
many of these places in the city.
The agent of the New York Prison Association, in one of his reports,
says:
When a burglar has successfully entered a store, and carried off a
large amount of property, in the form of fine goods, this property
itself is of no more use to him than the dust of the street. He does
not want to wear lace or jewelry. He does not need watches or pencil-
cases. He cannot eat cameos or vases. He, therefore, at once takes his
plunder to his 'fence,' and receives from him, in money, such a price
as is usually agreed upon. It is very difficult to ascertain, with any
degree of exactness, what proportion of the value of the plunder is
realized on the average by the thief; but from the best information we
could obtain, we feel confident it does not exceed one sixth.
A man whom we met in one of the jails, told us he was unsuccessful at
first, because he had received no instructions in the art.
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