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Santo Monte di Pieta was founded in 1670 on the proposal of the provost Girolamo Giustiniani, which was included in the report he submitted to the Council of the Republic after the end of his term of office from 28 December 1667 to 14 July 1668. Giustiniani notes the increase in usury, mainly at the expense of the peasants, and proposes the creation of a pawnshop using 12,000 reals from the granary funds.
On 25 November 1760, by the decision of the marine forecaster Antonio Bernardo, Proveditor General da Mar. The reason for its establishment was the lack of money in Zakynthos and its purpose was "to grant interest-bearing loans to the poor and needy"
The same building also housed the funds for the redemption of prisoners, the hospital, the hospital, the private deposits, the harbour and the repair of the roads. And the canoe next to it, today's Foscolo Street, was named Strada Pieta.
From the late 17th century the first floor was used for meetings of the council of 150 and there was a double row of benches to sit on. At the back of the room on a raised dais surrounded by a railing were the benches of the Provost and his advisers.
After the entrance on the right from 1927 when the archives of the archives were moved to the ground floor of Monte until 1935 was the office of Leonidas Zois.