1152:, having been endowed, charge no interest. Elsewhere the rate varies from nil in some towns, for very small pledges, to 10%. The constant tendency throughout France has been to reduce the rate. The great establishment in Paris obtains part of its working capital reserves and surplus forming the balance by borrowing money at a rate varying from 2 to 3% according to the loan term (duration). By law, the Paris mont de pit makes advances upon securities at 6%, plus a duty of 5 centimes upon every hundred francs. The maximum that can be lent in this way is 20. Up to 80% is lent on the face value of government stock and on its own bonds, and 75% upon other securities; only 60% may be advanced on railway shares. These advances are made for six months. Persons wishing to borrow a larger sum than 16 francs from the Paris mont de pit have to produce their papers of identity. In every case, a numbered metal check is given to the customer, and a duplicate is attached to the article itself. The appraising clerks decide upon the sum that can be lent, and the amount is called out with the number. If the borrower is dissatisfied he can take away his property, but if he accepts the offer he has to give particulars of his name, address, and occupation. Experts calculate that every transaction that involves less than 22 francs results in a loss to the Paris mont de pit—only those that exceed 85 francs are profitable. The average loan is under 30 francs.
1099:. A loan runs for six months and may be renewed for similar periods up to a maximum of five years. If the renewal does not take place within two weeks of the expiration of the ticket, the pledge is sold, any surplus there may be being paid to the pawner. When more than 10 lire are lent there is a charge of 1% for the ticket. Agencies of the mont de pit are scattered about Rome, and carry on their business under the same rules as the central office, with the disadvantage to the borrower that he has to pay an agent's fee. The amount to be advanced by a municipal pawnshop is fixed by an official called the commissaire-priseur, who is compelled to load the scales against the borrower, since, should the pledge remain unredeemed and be sold for less than was lent upon it, he has to make good the difference. This official is paid at the rate of 3/4% upon loans and renewals, and 3% on the amount obtained by the sales of forfeited pledges. The borrower has to pay an agents fee of 2%, which is deducted from the loan. Private pawnshops also exist in Italy, under police authority; but they charge very high interest.
1210:, but only articles of gold and silver, precious stones and ingots of the precious metals are accepted by them. Advances are made upon such securities at 6% per annum, and the amounts of the loans are officially limited. Loans run for twelve months, with a months grace before unredeemed pledges are put up to auction. The bulk of this class of business in Russia was, however, conducted by private companies, which advance money upon all descriptions of movable property except stocks and shares. The interest charged was not allowed to exceed 1% per month, but there is an additional charge of 4% per month for insurance and safekeeping. The loan runs for a year, with two months grace for redemption before sale. There were also pawnshops conducted by individuals, who find it very difficult to compete with the companies. These shops can only be opened by a police permit, which runs for five years, and security, varying from 100 to 700, has to be deposited; 2% per month is the limit of interest fixed, and two months grace is allowed for redemption after the period for which an article is pledged.
1049:
and often stands at about 12%. Two-thirds of the estimated value is the usual extent of a loan; four-fifths is advanced on silver, and five-sixths on fine gold. State and municipal bonds may be pledged up to a maximum of L150, the advance being 80% of the value, and a fixed interest of 6% is charged upon these securities. The values are fixed by professional valuers, who are liable to make good any loss that may result from over-estimation. The bulk of the loans are under five, and the state office is used less by the poor than by the middle classes. Loans run for six months, but a further six months' grace is allowed for redemption before the article pledged can be sold by auction. The net annual profit usually amounts to little more than 1% upon the capital employed.
974:, however, they are licensed by the police commissioner. In New York, permits are renewable annually and a pawnbroker must file a surety bond with the state. Business is conducted on much the same lines as in England. Loans are made for four months, with an additional 30-day grace period. Exceeding the interest rate is a misdemeanor. Unredeemed pledges may be sold at any time after the loan expires. New York has one pawnshop for every 12,000 residents. In Massachusetts, unredeemed pledges may be sold four months after the date of deposit. The licensing authority fixes the interest rate, which may vary for different amounts. In Boston, every pawnbroker must submit a daily list of pledges taken (including the time and amount lent) to the police. Pawnshop chains include
1137:
raised by loan, while some part of the property they possess is the product of gifts and legacies. The profits of the Paris mont de pit are paid over to the
Assistance Publique, the comprehensive term used by France to indicate the body of charitable foundations. Originally this was the rule throughout France, but now many of them are entirely independent of the charitable institutions. Counting the head office, the branches and the auxiliary shops, the Paris establishment has its doors open in some 50 or 60 districts; but the volume of its annual business is infinitely smaller than that transacted by the London pawnbrokers. The amount to be advanced by a municipal pawnshop is fixed by an official called the
1032:, nor are there any limitations upon the interest that may be charged. The rules of the official institutions are very similar to those of the monts de pit in the Latin countries, and unredeemed pledges are sold publicly 15 months after being pawned. A large proportion of the advances are made upon gold and diamonds; workmen's tools are not taken in pledge, and the amount lent varies from 8d. upwards. On condition of finding such sum of money as may be required for working capital over and above loans from public institutions, and the caution money deposited by the city officials, the municipality receives the profits.
1190:
rate, which it slightly exceeds, and the amount advanced upon each article is about three-fourths of its certified value. There is in
Portugal a second class of loan establishment answering exactly to the English pawnshop. The pawnbroker is compelled to deposit a sum, in acceptable securities, equal to the capital he proposes to embark, and the register of his transactions must be submitted quarterly to the chief of the police for examination. As regards small transactions, there appears to be no legal limit to the rate of interest. The sale of unredeemed pledges is governed by the law affecting the monte pio geral.
162:
918:
987:
cumbersome; slow in its operation, and based upon the supposition that the borrower carries in his pockets papers testifying to his identity. On the other hand, European custom limits the interest on large loans, where in the
English system the rate of interest on a "special contract" of £2 or more may be high, and often is. The pawning system of loans is, to be fair to both systems, always expensive, either in actual interest or in collateral disadvantages; this remains true whether the lender is a for-profit pawnbroker or a government
1300:
22:
267:(局), which would support the establishment of a pawnshop in a monastery. In the late Qing and Republican China era (1840-1949), Chinese pawnbrokers employed flexible strategies to extend their business to a wide range of social members. Various measures such as relationship building, strategic philanthropy, and social value advancement were adopted to improve pawnbroking industry's and pawnbrokers' social image.
2035:
1530:
65:
1141:, who is compelled to load the scales against the borrower, since, should the pledge remain unredeemed and be sold for less than was lent upon it, he has to make good the difference. This official is paid at the rate of 3/4% upon loans and renewals, and 3% on the amount obtained by the sales of forfeited pledges. This is obviously the weakest part of the French system.
820:
previous year 207,780,000 pledges were lodged (30–40 million in London). The average value of pledges was about four shillings, and the number of articles pawned dishonestly was reportedly one in 14,000. Later, official statistics indicate that of forfeited pledges sold in London, less than 20 per million were claimed by the police.
1124:
and the former from a very small sum to 10,000 francs that is the rule in Paris. Loans are granted for 12 months with right of renewal, and unredeemed pledges may then be sold by auction, but the proceeds may be claimed by the borrower at any time within three years. Pledges may be redeemed by instalments.
1189:
the monte pio is an amalgamation of bank, benefit society and pawnshop. Its business consists chiefly in lending money upon marketable securities, but it also makes advances upon plate, jewelry, and precious stones, and it employs officially licensed valuers. The rate of interest varies with the bank
1123:
The Paris mont de piété undertakes to lend four-fifths of the intrinsic value of articles made from the precious metals, and two-thirds of that of other articles. The maximum and minimum that may be advanced are also fixed. The latter varies in different parts of the country from one to three francs,
941:
probably contained nearly as many. In
Ireland, the interest rates for loans are nearly identical to those charged in England, but a penny (instead of a halfpenny) is charged for the ticket. Articles pledged for less than IR£1 must be redeemed within six months, but nine months are allowed for amounts
687:
proposed the establishment of a state pawnshop. According to the proposal, "The intolerable injuries done to the poore subjects by brokers and usurers that take 30, 40, 50, 60, and more in the hundredth, may be remedied and redressed, the poor thereby greatly relieved and eased, and His
Majestie much
671:
harassed them. An "Act against
Brokers" was passed in 1603, and remained in force until 1872. It was aimed at counterfeit brokers, of whom there were many in London. This type of broker was considered a receiver of stolen goods; the act provided that no sale (or pawn) of stolen jewels, plate or other
1238:
that prohibits lending money on articles suspected being stolen. By the end of the 19th century individuals still carried on the business on a small scale, but the bulk of it was conducted by companies. For many years
Stockholm had a municipal establishment that charged 10% for loans paid out of the
1048:
is the most interesting. It dates from 1834, and the working capital was found, and still continues to be in part provided, by the
Prussian State Bank. The profits are invested, and the interest devoted to charitable purposes. The maximum and minimum rates of interest are fixed, but the rate varies,
828:
The result of the select committee's work was the
Pawnbrokers Act of 1872, which repealed, altered and consolidated all previous legislation and continues to regulates the relationship between the public and pawnbrokers. Based on an Irish law passed by Parliament, it removed restrictions and reduced
1263:
and police able to inspect pawnbrokers' books. Pawnbrokers could only charge interest of 1% per month for six months, with further rules dictating the sale at auction of unredeemed pledges. Very few pawnbrokers existed in
Switzerland, where it was more common for people to sell items to second-hand
1222:
dates from 1753, when the Royal Naval Hospital was granted the monopoly of advancing money on pledges and of charging higher interest than the law permitted. The duration of a loan is three months, renewals being allowed. The old law was extended in 1867, and now all pawnbrokers have to be licensed
1131:
the rate charged is 7%, and even then the business is conducted at a loss except in regard to long and valuable pledges. Some of the French provincial rates are as high as 12%, but in almost every case they are less than they were prior to the legislation of 1851 and 1852. The French establishments
1070:
in 1707, with half of the annual surplus paid to the Vienna poor fund. Here, as in Berlin, the profits are relatively small. Interest is charged at the uniform rate of 10%, which is calculated in two-week periods, however speedily redemption may follow upon pawning. For small loans varying from two
1107:
The National Assembly destroyed the monopoly of the Paris monti de pietà, but it struggled on until 1795, when the competition of the money-lenders compelled it to close its doors. So great, however, were the extortions of the usurers that the people began to clamour for its reopening, and in July
1172:
began to receive the sums deposited in the savings bank, which had just been established, for which it paid 5% interest. In 1869 the two institutions were united. This official pawnshop charged 6% upon advances for periods varying from four to twelve months, according to the nature of the article
1136:
presides over the business; in the provinces, the mayor is the president. The administrative council is drawn one-third each from the conseil communal, the governors of charitable societies, and the townspeople. A large proportion of the capital required for conducting the institutions has to be
1061:
were similar to those of England. Free trade exists, and the private trader, who does most of the business, must obtain a government concession and deposit caution-money from 80 to 800, according to the size of the town. He must, however, compete with the monts de pit or Versatzaemter, which are
986:
The fact that on the continent of Europe monts de piété are almost invariably either a state or a municipal monopoly necessarily places them upon an entirely different footing from the British and American pawnshop. Compared with the English system, the customary European system is elaborate and
819:
laws had been abolished for the entire community except for pawnbrokers who loaned less than £10, who were prevented from lending money on bulky articles requiring large storage space. In 1870 the House of Commons appointed a select committee on pawnbrokers, which heard testimony that during the
584:
obtained one in 1695, but it was not until 1777 that the first mont de pit was founded in Paris by royal patent. Statistics for the first few years of its existence show that in the twelve years between 1777 and the Revolution, the average value of the pledges was 42 francs 50 centimes, which is
954:
Pawnbrokers are strictly regulated. Each pawnbroker must have a criminal background check. Those pawning items must present a photo ID and are often asked for a thumbprint. Criminals know to avoid pawnshops since the items purchased or pawned are reported to the police each day. Many crimes are
41:
It should be brought up to date to reflect subsequent history or scholarship (including the references, if any), and among other problems, Europe is described using old currency - shillings and pence in the UK, pre-Euro national currencies for the continent. When you have completed the review,
1095:, which never lends less than fod. or more than 40. Four-fifths of the value is lent upon gold, silver and jewels, and two-thirds upon other articles. The interest, which is reckoned monthly, varies with the amount of the loan from 5 to 7%, but no interest is chargeable upon loans up to 5
1108:
1797 it recommenced business with a fund of ~20,000 found by five private capitalists. At first, it charged interest at the rate of 36% per annum, which was gradually reduced, the gradations being 30, 24, 18, 15, and finally 12% in 1804. In 1806 it fell to 9%, and in 1887 to 7%. In 1806
1120:, regulated it by new laws that are still in force. In Paris the pledge-shop is, in effect, a department of the administration; in the French provinces it is a municipal monopoly; and this remark holds good, with modifications, for most parts of the continent of Europe.
850:
In addition to one halfpenny for the pawn ticket (sometimes not charged for very small pawns), the pawnbroker is entitled to charge interest one halfpenny per month on every 2s (or part of 2s) lent if the loan is under £2 and on every 2s 6d if the loan is above
897:, and the National Pawnbrokers Association was founded in 1892 to represent the industry. Annual interest on loans of 2s. had been increased by successive acts of Parliament from six percent in 1784 to 25 percent in 1800 and 27 percent in 1860. An English
942:
between 30s and £2. For sums over £2 the period is a year, as in England. In Ireland, a fraction of a month is calculated as a full month for interest; in England, fortnights are recognized after the first month. In 1838, there was an effort to establish
262:
period). During the Southern Song dynasty, wealthy lay people sometimes formed partnerships with Buddhist monasteries and opened pawnshops (avoiding property taxes from which monasteries were exempt). A 1202 document records ten people forming a
1019:
possesses a certain capital of its own in addition. In het Nederlands, the rate of interest charged in various parts of the country varies from 4 to 16%. In Belgium the rate is around 6,5%. The management is very similar to that of the French
1350:
It has been conjectured that the golden balls were originally three flat yellow effigies of byzants, or gold coins, laid heraldically upon a sable field, but that they were presently converted into balls the better to attract attention.
1007:
but were re-established under French dominion, and for many years the laws governing them were altered by the French, Dutch and Belgian governments. Pawnbroking is regulated by an 1848 law, supplemented by an 1891 constitution for the
785:
percent per month (20 percent per year, unless unpaid interest increased the debt). Loans could be granted for a year, but pledges might be redeemed up to 15 months; the first week of the second month would not count for interest.
1250:
a police licence was required for lending money on pawn where the amount advanced did not exceed 4, 10s. Beyond that sum no licence was necessary, but the interest charged could not exceed such a rate as the king may decide.
889:
Provisions in the act safeguard the interests of borrowers whose unredeemed pledges are sold. Sales (by auction) take place only on the first Monday of January, April, July and October, and on the following days if needed.
1223:
by the municipalities and to pay a small annual licence fee. The rate of interest varies from 6 to 12% according to the amount of the loan, which must not be less than 7d., and unredeemed pledges must be sold by auction.
1243:('pawn bond bank') formed, with rivals soon following. The money was lent for three months, and at the end of five months the pledge, if unredeemed, was sold by auction under very carefully prescribed conditions.
1323:
slew a giant using three bags of rocks. Since the Medici family were so successful in the financial, banking, and money-lending industries, other families also adopted the symbol. Throughout the Middle Ages,
1091:, the country of origin of the mont de piété, the institution still flourishes. It is, as a rule, managed by a committee or commission, and the regulations follow Italy fairly closely the lines of the one in
1346:
of Myra, the patron saint of pawnbrokers. According to legend, he gave a bag of gold to three poor girls to save them from destitution, and these three bags of gold became the three orbs of the symbol.
291:
converted the proceeds from property confiscated from criminals into a fund from which the state lent money without interest to those who pledged valuables equal to double the amount borrowed.
1625:
Yan, T. and Hyman, M.R. (2019), "Pawnbroking in pre-1949 China: soft strategies for overcoming a negative image", Asia Pacific Journal of Marketing and Logistics, Vol. 31 No. 3, pp. 580-591.
815:
The chief provisions of the act were unpopular, and the Pawnbrokers' National Association and the Pawnbrokers' Defence Association worked to obtain its liberalization. It was argued that the
1307:
The pawnbroker's symbol shows three balls suspended from a bar and has been widely used since the mid-18th century. The origins of the symbol are unclear, but it is often attributed to the
434:. They amassed the necessary capital by preaching, and the Perugian pawnshop earned a substantial profit at the end of its first year. After Barnabus' death in 1474, they were supported by
955:
solved when pawnshop owners turn in a list of the items pawned or purchased when the match up with a stolen item on a police database. Each state has its own regulations, with those of
640:
towns. Interest was fixed at 15 percent before it was reduced and restored to almost the original rate. Some towns also had charitable funds for interest-free loans. Shortly after the
504:, a Dominican, established the first Florentine pawnshop after local theologians declared that charging interest was not a sin. Despite papal acceptance, the first pawnshop in
1339:, and many European towns called the pawn shop the "Lombard". The three golden balls were originally the symbol medieval Lombard merchants hung up in front of their houses.
318:. Many pawnbrokers in England were Jewish, and despite services rendered (often to the Crown), they were often unpopular, prompting greater restrictions and eventually the
767:, who admitted that he had used pawnshops in his youth, was influential in its passage. The pawnbrokers were grateful, and for many years after Lord Eldon's death they
1239:
city funds. The cost of administration was so great that the establishment suffered an annual loss, and so it was abolished in 1880 when a private company called the
283:; most contemporary law on the subject is derived from Roman sources. Many pawnbrokers were professional or semi-professional and operated from private shops. Under
1287:
Since the 1980s the decline of pawnbroking has stabilised, and even increased in some areas, with many people using pawnbrokers as an alternative to bank or
1612:
Walsh, Michael J. Sacred Economies: Buddhist Monasticism and Territoriality in Medieval China. The Sheng Yen Series in Chinese Buddhist Studies. New York:
1554:
1177:, often with much higher rates of interest but which made larger advances than their official rivals, and which did business during more convenient hours.
32:
1895:
Steensma, David P. (2003). ""Pawn Ball Megakaryocytes": From the Marvellous Medici and Dear Old Saint Nick to the Unsanctified Marrow of Myelodysplasia".
688:
benefited". The king would receive two-thirds of the profits, and the working capital (£100,000) would be provided by the city of London. Reform of what
400:
later suggested the establishment of state or municipal pawnshops. These gradually replaced the private licensed pawnbrokers throughout much of Europe.
679:, another act asserted that a pawnbroker was not a respectable (or trustworthy) person; however, it was planned to set Charles up in the business. The
585:
double the present average. The interest charged was 10% per annum, and large profits were made upon the 16 million livres that were lent every year.
946:
in Ireland; in 1841, the eight charitable pawnshops had a negative balance of £5,340. By 1847 only three were left, which also eventually collapsed.
651:
followed the archdukes' example. The original rate was 15 percent, when the Lombard money-lenders had been charging 43 percent. The prince-bishop's
702:
Observations manifesting the Conveniency and Commodity of Mount Pieteyes, or Public Bancks for Relief of the Poor or Others in Distress, upon Pawns
82:
1079:
state and municipal institutions appear, on the whole, to compete somewhat more successfully with the private firms than is the case in Vienna.
723:, which demonstrated that pawnbroking encouraged dishonesty by giving thieves an opportunity to sell stolen goods and allowed a person planning
1541:
1545:
1319:. The family insignia featured rounded objects, which may have represented gold coins or rocks. According to one legend, a Medici employed by
1173:
pledged, and a further months grace was allowed before the pledges were sold by auction. Private pawnbrokers were also common, especially in
1132:
can only be created by decree of the president of the Republic, with the consent of the local conseil communal. In Paris, the prefect of the
1044:
is conducted at once by the state, by the municipalities, and by private enterprise; but of all these institutions the state loan office in
804:
380:
to charge sufficient interest to cover their expenses. A controversy arose about the legality of charging interest, which was settled by
372:, bequeathed 1000 silver marks for the establishment of a free pawnshop. These early efforts, like the later Italian ones, failed. The
2078:
1024:, but the arrangements are much more favorable to the borrower. The initial term of a loan contract is unually 6 or 12 months. In the
829:
the licence fee in London from £15 to the £7 10s paid in the provinces. According to the act (which does not affect loans above £10),
129:
341:" established in the 15th century, lending money to the poor without interest if the money was covered by the value of the pledges.
148:
735:). The Pawnbroker's Licence Law of 1785 licensed pawnbrokers for £10 in London and £5 in the country; the interest rate was set at
101:
712:
intended to help the poor by establishing pawnshops at an interest rate of one penny per pound per month (five percent per year).
797:
655:
were so successful that their interest rate did not exceed five percent until 1788, when it was increased by one-half percent.
593:
108:
2045:
86:
764:
648:
1067:
385:
115:
1015:
The working capital of these official pawnshops is furnished by charitable institutions or the municipalities, but the
2068:
1357:
In the late 20th century some pawnbrokers responded to a decline in the industry by removing the traditional symbol.
195:. The practice was widespread in many parts of the world, from ancient Greece to medieval China and medieval Europe.
1943:
975:
315:
287:, certain items (such as wearing apparel, furniture, and instruments of tillage) could not be pledged. The emperor
214:
were forbidden to lend money at interest to each other, although they could charge interest to non-Jews. Until the
97:
161:
1613:
645:
1354:
Pawnbrokers (and their detractors) joke that the three balls mean "Two to one, you won't get your stuff back".
334:
307:, were common in medieval Europe, where they were often tolerated by authorities, despite opposition from the
854:
Special contracts may be made for loans over £2, at a rate of interest agreed on between lender and borrower.
808:
693:
427:
75:
1234:
has no statutes specifically aimed at pawnbroking, with the exception of a proclamation by the governor of
431:
1573:
1260:
1072:
720:
715:
Suspicion of pawnbrokers continued during the 18th century, when an act of Parliament ended the custom of
569:
435:
337:, the pledge system arose which became almost universal in Europe. The system was benevolent, with early "
322:
from England in 1290. The expulsion of Jewish pawnbrokers enabled Lombard merchants to settle in England.
238:(长生库, long-life treasuries) originally referred to Buddhist monasteries in general. Other terms included
2050:
1062:
sometimes municipal and sometimes state institutions. The chief of these is the imperial pawn office of
917:
906:
894:
407:
commonly charged interest for loans in Italy. They were established by 1464, when the earliest recorded
323:
1663:
1117:
388:, Leo declared that the pawnshop was a lawful and valuable institution and threatened dissenters with
1165:
676:
668:
2005:
Spielvogel, Carl (14 April 1957). "Pawnbrokers Report Trade Dip; Prosperity Is Shrinking Business".
1144:
Somewhere between 40 and 50 French towns possess municipal pawnshops, a few of which, like those of
122:
2073:
689:
601:
597:
1920:
1858:
1796:
1742:
902:
719:
lending money on pledges so their customers could drink. Their reputation was also harmed by the
365:
327:
188:
1299:
572:
could not reconcile themselves to the lawfulness of interest, and when a pawnshop was opened in
230:
The earliest Chinese pawnbrokers, in the 5th century, were established, owned, and operated by
1912:
1776:
1734:
1284:
by banks. Many pawnbrokers attempted to modernise their image and diversify their businesses.
1004:
840:
Pledges pawned for 10s or less and not redeemed in time become the property of the pawnbroker.
680:
319:
166:
1904:
1788:
1588:
1535:
One or more of the preceding sentences incorporates text from a publication now in the
1273:
956:
882:
A licence cannot be refused if the applicant presents sufficient evidence of good character.
397:
393:
369:
357:
353:
1689:
1638:
1336:
1308:
1199:
1058:
1029:
858:
709:
664:
478:
389:
308:
304:
234:
monasteries; only later were they more widely seen. They were known by a number of names.
192:
1824:
576:
in 1626, it had to be closed within a year. Then it was that Jean Boucher published his
1391:
1366:
1343:
1277:
844:
338:
276:
1328:
bore three balls, orbs, plates, discs, coins and more as symbols of monetary success.
326:
pawned his jewels to the Lombards to raise money for his war with France in 1338, and
2062:
2039:
1694:
1549:
1536:
1203:
960:
768:
589:
299:
Jewish and Christian pawnbrokers and money-lenders, the latter often referred to as
1948:
1924:
1849:
Raymond, Raymond James (1978). "Pawnbrokers and Pawnbroking in Dublin: 1830-1870".
1113:
1096:
834:
280:
259:
251:
243:
636:
in 1618, and in a dozen years the institution was established in nearly all large
560:
The institution was very slow in obtaining a footing in France. It was adopted at
793:
In 1815, licence fees were raised to £15 in London and £7 10s in the countryside.
1908:
1320:
1288:
1149:
1025:
424:
215:
177:
64:
692:
called "broking pawn" was in the air at the time, and in the early days of the
1109:
876:
724:
581:
501:
381:
219:
203:
1738:
1626:
1558:. Vol. 20 (11th ed.). Cambridge University Press. pp. 972–976.
1971:
1592:
1259:
Switzerland tightly controlled pawnbroking, with licences authorised by the
1235:
938:
922:
885:
The word "pawnbroker" must be inscribed in large letters over the shop door.
549:
followed suit in 1705, when a priest opened a charitable pawnshop with five
530:
529:
copied the Augsburg regulations in 1618, and by 1622 pawnshops were open in
526:
486:
300:
284:
1916:
1332:
1325:
1312:
1186:
1145:
967:
732:
716:
684:
554:
534:
522:
497:
459:
373:
345:
288:
231:
207:
170:
1862:
1746:
1722:
588:
Borrowing money, secured by deposited goods, was first regulated in the
1800:
1219:
1076:
1041:
934:
930:
800:
abolished rewards to informers for reporting illegal rates of interest.
763:
Modern pawnbroking legislation began with the Pawnbrokers Act of 1800.
637:
561:
538:
482:
467:
420:
416:
412:
349:
1281:
1247:
1231:
1207:
1174:
1063:
1045:
971:
745:
percent per month, and the length of loans was confined to one year.
728:
546:
490:
447:
443:
361:
1792:
2038: This article incorporates text from a publication now in the
42:
replace this notice with a simple note on this article's talk page.
1316:
1298:
1161:
1133:
1128:
1088:
966:
Pawnbrokers are usually licensed by the mayor or by the mayor and
916:
816:
573:
565:
550:
542:
471:
463:
455:
451:
184:
181:
160:
1092:
978:
and First Cash Financial Services, both headquartered in Texas.
929:
During the early 19th century, there was only one pawnbroker in
867:
Taking an article from a person under age twelve or intoxicated.
505:
211:
1028:, private pawnbrokers flourish side by side with the municipal
893:
Pawnbroking spread in popularity in Britain as a result of the
843:
Pledges above 10s are redeemable until sale, which must be by
58:
15:
909:
considered a municipal effort, but neither came to fruition.
789:
During its 72-year history, the act was amended three times:
771:
him at their dinners. The act increased the interest rate to
1202:
the state maintained two pawnbroking establishments, one at
1066:, which was founded with charitable objects by the emperor
1016:
1009:
864:
Unlawful pawning of goods not the property of the pawner.
833:
A pledge is redeemable within one year, with a seven-day
222:
were also forbidden to lend to each other for interest.
31:
is largely based on an article in the out-of-copyright
870:
Taking linen, apparel or unfinished goods or materials.
1264:
dealers in the hope of subsequently buying them back.
521:
From Italy, pawnshops gradually spread across Europe.
206:
precluded pawnbroking as it forbade the acceptance of
1779:(1946). "The Three Golden Balls of the Pawnbrokers".
1574:"A Short Review of the Historical Critique of Usury"
500:, the municipality and the Jews opposed Bernandino.
683:was approaching; supplies were badly needed, and a
89:. Unsourced material may be challenged and removed.
2054:. Vol. 15. New York: Robert Appleton Company.
1335:. Pawn shop banking originated under the name of
933:; in 1833 there were 52, rising to 312 by 1865.
708:, published in 1695, the directors of the early
1818:
1816:
1814:
1812:
1810:
731:and dispose of them for cash (defrauding their
1716:
1714:
1712:
803:In 1860, pawnbrokers were allowed to charge a
807:for a pawn ticket when a loan was under five
360:in 1350 (which charged 7.5% interest) and in
8:
1581:Accounting, Business & Financial History
1394:currency, there were 240 pennies in a pound.
1331:Another theory attributes the symbol to the
2000:
1998:
1996:
1994:
1992:
1938:
1936:
1934:
1890:
1888:
1886:
1884:
1882:
1880:
1878:
1876:
1874:
1872:
1781:Bulletin of the Business Historical Society
508:was only opened (by a Franciscan) in 1539.
419:. Three years later, another was opened in
1771:
1769:
1767:
1765:
1763:
1627:https://doi.org/10.1108/APJML-10-2017-0262
1572:Visser, Wayne; McIntosh, Alastair (1998).
568:in 1624. The doctors of the once powerful
1523:
1521:
1519:
1517:
1515:
1513:
1511:
1509:
1507:
1505:
1503:
1501:
1499:
1497:
1495:
1493:
1491:
1489:
1487:
1485:
1483:
1481:
1479:
1477:
1475:
1473:
1471:
1469:
1467:
1465:
1463:
1461:
1459:
1457:
1455:
1453:
1451:
1449:
1447:
1445:
1443:
1441:
1439:
1437:
1435:
1433:
1431:
644:was introduced in the Spanish provinces,
149:Learn how and when to remove this message
1429:
1427:
1425:
1423:
1421:
1419:
1417:
1415:
1413:
1411:
596:and his wife Isabella, governors of the
489:confirmed another in his native town in
1567:
1565:
1407:
1383:
314:Pawnbroking spread to England with the
706:A Short History of the Bank of England
2020:"Pawnbroker's sign gets 'new look'".
1010:Mont-de-Piété of the city of Brussels
7:
1976:The National Pawnbrokers Association
1168:. The system grew until in 1840 the
481:unsuccessfully denounced pawnshops.
87:adding citations to reliable sources
1944:"Pawnshop emerges from the shadows"
1723:"The Last Pawnshops of Dublin City"
1342:A third theory links the symbol to
1112:re-established its monopoly, while
1022:Monts-de-Piété (crédit municipaux)
14:
2048:". In Herbermann, Charles (ed.).
604:, lowered the interest rate from
2033:
1528:
875:A new pawnbroker must produce a
704:(a 1651 pamphlet). According to
63:
20:
1272:Pawnbroking declined after the
474:and a number of smaller towns.
74:needs additional citations for
879:'s certificate to be licensed.
384:. At the tenth sitting of the
173:, in a 19th-century photograph
1:
1280:provision by governments and
632:percent. They introduced the
38:, which was produced in 1911.
2044:Vermeersch, Arthur (1912). "
1639:"How does pawnbroking work?"
1164:were closely connected with
525:adopted the system in 1591,
396:confirmed his decision, and
386:First Council of the Lateran
1909:10.1080/1024533031000081397
995:The Netherlands and Belgium
403:Long before this, however,
2095:
1075:, 5% only is charged. The
976:Cash America International
672:goods to a pawnbroker in
578:Défense des monts de piété
210:from a poor borrower, and
2079:Retail financial services
1614:Columbia University Press
1542:Penderel-Brodhurst, James
580:in favor of pawnbroking.
376:, therefore, allowed the
344:Similar systems began at
1851:Dublin Historical Record
1727:Dublin Historical Record
1721:Doherty, Philip (1994).
485:opened one in 1469, and
98:"History of pawnbroking"
1593:10.1080/095852098330503
1555:Encyclopædia Britannica
1003:were undermined by the
963:fairly representative.
824:Pawnbrokers Act of 1872
694:Commonwealth of England
271:Ancient Greece and Rome
34:Encyclopædia Britannica
1402:Sources and references
1304:
1276:due to an increase in
926:
721:Charitable Corporation
646:prince-bishop of Liège
438:(another Franciscan).
428:Barnabus Interamnensis
330:did the same in 1415.
275:Pawning was common in
174:
2051:Catholic Encyclopedia
1823:Johnson, Ben (2017).
1303:Symbol of pawnbrokers
1302:
921:Pawnbroker's sign in
920:
907:London County Council
901:was once proposed by
895:Industrial Revolution
727:to purchase goods on
432:Fortunatus de Copolis
164:
1057:Pawnbroking laws of
913:Scotland and Ireland
667:were unpopular, and
649:Ferdinand of Bavaria
512:Early Present Period
436:Bernandino di Feltre
378:Sacri monti di pietà
83:improve this article
1261:cantonal government
1139:commissaire-priseur
796:In 1840, an act of
754:Britain and Ireland
659:Britain and Ireland
598:Spanish Netherlands
415:) was confirmed by
2069:History of banking
1777:De Roover, Raymond
1305:
1160:Monts de piété in
1030:Banken van Leening
927:
903:the Salvation Army
857:The following are
366:Michael Northburgh
175:
1664:"Pawning History"
1643:Hopkins and Jones
1321:Charles the Great
1206:and the other at
1005:French Revolution
749:Late 19th century
320:Expulsion of Jews
159:
158:
151:
133:
57:
56:
2086:
2055:
2037:
2036:
2026:
2025:
2017:
2011:
2010:
2002:
1987:
1986:
1984:
1982:
1968:
1962:
1961:
1959:
1957:
1952:. 31 August 2003
1940:
1929:
1928:
1892:
1867:
1866:
1846:
1840:
1839:
1837:
1835:
1825:"The Pawnbroker"
1820:
1805:
1804:
1773:
1758:
1757:
1755:
1753:
1718:
1707:
1706:
1704:
1702:
1685:
1679:
1678:
1676:
1674:
1660:
1654:
1653:
1651:
1649:
1635:
1629:
1623:
1617:
1610:
1604:
1603:
1601:
1599:
1578:
1569:
1560:
1559:
1534:
1532:
1531:
1525:
1395:
1388:
1274:Second World War
1118:prince-president
1001:montes de piedad
905:and in 1894 the
859:summary offences
784:
783:
779:
776:
744:
743:
739:
700:was proposed in
653:montes de piedad
631:
630:
626:
623:
617:
616:
612:
609:
564:in 1577, and at
493:a decade later.
398:Charles Borromeo
394:Council of Trent
370:Bishop of London
154:
147:
143:
140:
134:
132:
91:
67:
59:
52:
49:
43:
36:Eleventh Edition
24:
23:
16:
2094:
2093:
2089:
2088:
2087:
2085:
2084:
2083:
2059:
2058:
2043:
2034:
2030:
2029:
2024:. 25 June 1964.
2019:
2018:
2014:
2004:
2003:
1990:
1980:
1978:
1972:"About the NPA"
1970:
1969:
1965:
1955:
1953:
1942:
1941:
1932:
1894:
1893:
1870:
1848:
1847:
1843:
1833:
1831:
1822:
1821:
1808:
1793:10.2307/3110507
1775:
1774:
1761:
1751:
1749:
1720:
1719:
1710:
1700:
1698:
1687:
1686:
1682:
1672:
1670:
1662:
1661:
1657:
1647:
1645:
1637:
1636:
1632:
1624:
1620:
1616:, 2009. page 62
1611:
1607:
1597:
1595:
1576:
1571:
1570:
1563:
1540:
1529:
1527:
1526:
1409:
1404:
1399:
1398:
1390:In old British
1389:
1385:
1380:
1363:
1337:Lombard banking
1297:
1282:consumer credit
1270:
1257:
1241:Pant Aktie Bank
1229:
1218:Pawnbroking in
1216:
1200:imperial Russia
1196:
1183:
1158:
1105:
1085:
1059:Austria-Hungary
1055:
1053:Austria-Hungary
1040:Pawnbroking in
1038:
997:
984:
952:
915:
826:
781:
777:
774:
772:
761:
759:1800–1872
756:
751:
741:
737:
736:
710:Bank of England
661:
642:monte de piedad
634:monte de piedad
628:
624:
621:
619:
614:
610:
607:
605:
519:
514:
442:were opened in
390:excommunication
364:in 1361, where
352:in 1198 and at
339:mounts of piety
316:Norman conquest
309:Catholic Church
297:
295:Medieval Europe
273:
228:
201:
193:ancient history
155:
144:
138:
135:
92:
90:
80:
68:
53:
47:
44:
40:
25:
21:
12:
11:
5:
2092:
2090:
2082:
2081:
2076:
2071:
2061:
2060:
2057:
2056:
2028:
2027:
2012:
2007:New York Times
1988:
1963:
1930:
1868:
1841:
1806:
1787:(4): 117–124.
1759:
1708:
1680:
1655:
1630:
1618:
1605:
1587:(2): 175–189.
1561:
1550:Chisholm, Hugh
1406:
1405:
1403:
1400:
1397:
1396:
1382:
1381:
1379:
1376:
1375:
1374:
1367:Mount of piety
1362:
1359:
1344:Saint Nicholas
1296:
1293:
1278:social welfare
1269:
1266:
1256:
1253:
1228:
1225:
1215:
1212:
1195:
1192:
1182:
1179:
1157:
1154:
1104:
1101:
1084:
1081:
1054:
1051:
1037:
1034:
996:
993:
983:
980:
951:
948:
944:monts de piété
914:
911:
887:
886:
883:
880:
873:
872:
871:
868:
865:
855:
852:
848:
845:public auction
841:
838:
825:
822:
813:
812:
801:
794:
760:
757:
755:
752:
750:
747:
660:
657:
518:
515:
513:
510:
440:Monti di pietà
405:monti di pietà
335:medieval Italy
296:
293:
277:Ancient Greece
272:
269:
227:
224:
200:
197:
167:Monte di Pietà
157:
156:
71:
69:
62:
55:
54:
28:
26:
19:
13:
10:
9:
6:
4:
3:
2:
2091:
2080:
2077:
2075:
2072:
2070:
2067:
2066:
2064:
2053:
2052:
2047:
2041:
2040:public domain
2032:
2031:
2023:
2016:
2013:
2008:
2001:
1999:
1997:
1995:
1993:
1989:
1977:
1973:
1967:
1964:
1951:
1950:
1945:
1939:
1937:
1935:
1931:
1926:
1922:
1918:
1914:
1910:
1906:
1902:
1898:
1891:
1889:
1887:
1885:
1883:
1881:
1879:
1877:
1875:
1873:
1869:
1864:
1860:
1856:
1852:
1845:
1842:
1830:
1826:
1819:
1817:
1815:
1813:
1811:
1807:
1802:
1798:
1794:
1790:
1786:
1782:
1778:
1772:
1770:
1768:
1766:
1764:
1760:
1748:
1744:
1740:
1736:
1732:
1728:
1724:
1717:
1715:
1713:
1709:
1697:
1696:
1695:History Today
1691:
1690:"Roman Loans"
1688:Kelly, Paul.
1684:
1681:
1669:
1668:History.co.uk
1665:
1659:
1656:
1644:
1640:
1634:
1631:
1628:
1622:
1619:
1615:
1609:
1606:
1594:
1590:
1586:
1582:
1575:
1568:
1566:
1562:
1557:
1556:
1551:
1547:
1543:
1538:
1537:public domain
1524:
1522:
1520:
1518:
1516:
1514:
1512:
1510:
1508:
1506:
1504:
1502:
1500:
1498:
1496:
1494:
1492:
1490:
1488:
1486:
1484:
1482:
1480:
1478:
1476:
1474:
1472:
1470:
1468:
1466:
1464:
1462:
1460:
1458:
1456:
1454:
1452:
1450:
1448:
1446:
1444:
1442:
1440:
1438:
1436:
1434:
1432:
1430:
1428:
1426:
1424:
1422:
1420:
1418:
1416:
1414:
1412:
1408:
1401:
1393:
1387:
1384:
1377:
1372:
1371:Mont de Piété
1368:
1365:
1364:
1360:
1358:
1355:
1352:
1348:
1345:
1340:
1338:
1334:
1329:
1327:
1326:coats of arms
1322:
1318:
1314:
1310:
1309:Medici family
1301:
1294:
1292:
1290:
1285:
1283:
1279:
1275:
1267:
1265:
1262:
1254:
1252:
1249:
1244:
1242:
1237:
1233:
1226:
1224:
1221:
1213:
1211:
1209:
1205:
1204:St Petersburg
1201:
1193:
1191:
1188:
1180:
1178:
1176:
1171:
1167:
1166:savings banks
1163:
1155:
1153:
1151:
1147:
1142:
1140:
1135:
1130:
1125:
1121:
1119:
1115:
1111:
1102:
1100:
1098:
1094:
1090:
1082:
1080:
1078:
1074:
1069:
1065:
1060:
1052:
1050:
1047:
1043:
1035:
1033:
1031:
1027:
1023:
1018:
1013:
1012:dating from.
1011:
1006:
1002:
994:
992:
990:
981:
979:
977:
973:
969:
964:
962:
961:Massachusetts
958:
950:United States
949:
947:
945:
940:
936:
932:
924:
919:
912:
910:
908:
904:
900:
899:mont de piété
896:
891:
884:
881:
878:
874:
869:
866:
863:
862:
860:
856:
853:
849:
846:
842:
839:
836:
832:
831:
830:
823:
821:
818:
810:
806:
802:
799:
795:
792:
791:
790:
787:
770:
766:
758:
753:
748:
746:
734:
730:
726:
722:
718:
713:
711:
707:
703:
699:
698:mont de pieté
695:
691:
686:
682:
678:
673:
670:
666:
658:
656:
654:
650:
647:
643:
639:
635:
603:
599:
595:
591:
590:Low Countries
586:
583:
579:
575:
571:
567:
563:
558:
556:
552:
548:
544:
540:
536:
532:
528:
524:
516:
511:
509:
507:
503:
499:
494:
492:
488:
484:
480:
475:
473:
469:
465:
461:
457:
453:
449:
445:
441:
437:
433:
429:
426:
422:
418:
414:
410:
406:
401:
399:
395:
391:
387:
383:
379:
375:
371:
367:
363:
359:
358:Franche-Comté
355:
351:
347:
342:
340:
336:
331:
329:
325:
321:
317:
312:
310:
306:
302:
294:
292:
290:
286:
282:
278:
270:
268:
266:
261:
257:
254:period), and
253:
249:
245:
241:
237:
233:
225:
223:
221:
217:
213:
209:
205:
198:
196:
194:
190:
186:
183:
179:
172:
169:dei Pilli in
168:
163:
153:
150:
142:
131:
128:
124:
121:
117:
114:
110:
107:
103:
100: –
99:
95:
94:Find sources:
88:
84:
78:
77:
72:This article
70:
66:
61:
60:
51:
39:
37:
35:
29:This article
27:
18:
17:
2049:
2022:The Guardian
2021:
2015:
2006:
1979:. Retrieved
1975:
1966:
1954:. Retrieved
1949:The Scotsman
1947:
1903:(1): 11–18.
1900:
1896:
1857:(1): 15–26.
1854:
1850:
1844:
1832:. Retrieved
1828:
1784:
1780:
1750:. Retrieved
1733:(1): 87–94.
1730:
1726:
1699:. Retrieved
1693:
1683:
1671:. Retrieved
1667:
1658:
1646:. Retrieved
1642:
1633:
1621:
1608:
1596:. Retrieved
1584:
1580:
1553:
1386:
1370:
1356:
1353:
1349:
1341:
1330:
1306:
1289:payday loans
1286:
1271:
1258:
1245:
1240:
1230:
1217:
1197:
1184:
1169:
1159:
1143:
1138:
1126:
1122:
1114:Napoleon III
1106:
1086:
1056:
1039:
1021:
1017:Brussels one
1014:
1000:
998:
988:
985:
965:
953:
943:
928:
898:
892:
888:
835:grace period
827:
814:
788:
762:
714:
705:
701:
697:
674:
662:
652:
641:
633:
587:
577:
559:
520:
495:
476:
439:
408:
404:
402:
377:
343:
332:
313:
298:
274:
264:
255:
247:
239:
236:Changshengku
235:
229:
202:
187:on portable
176:
145:
136:
126:
119:
112:
105:
93:
81:Please help
76:verification
73:
45:
33:
30:
1829:Historic UK
1546:Pawnbroking
1255:Switzerland
1170:mont de pit
1150:Montpellier
1026:Netherlands
989:mont de pit
690:Shakespeare
425:Franciscans
216:Reformation
191:, began in
178:Pawnbroking
2074:Pawn shops
2063:Categories
1897:Hematology
1834:12 October
1110:Napoleon I
877:magistrate
798:Parliament
765:Lord Eldon
725:bankruptcy
602:Philip III
594:Albert VII
582:Marseilles
553:from his
502:Savonarola
479:Dominicans
382:Pope Leo X
324:Edward III
220:Christians
204:Mosaic law
199:Mosaic law
109:newspapers
1752:9 January
1739:0012-6861
1544:(1911). "
1268:Post-1945
1236:Stockholm
1077:Hungarian
1071:to three
939:Edinburgh
923:Edinburgh
809:shillings
805:halfpenny
733:creditors
717:publicans
681:Civil War
677:Charles I
669:Henry VII
592:in 1600.
531:Amsterdam
527:Nuremberg
487:Sixtus IV
301:Cahorsins
285:Roman law
256:jiedianku
242:(seen in
139:June 2017
48:June 2012
1917:12623422
1863:30104102
1747:30101060
1392:sterling
1361:See also
1333:Lombards
1313:Florence
1187:Portugal
1181:Portugal
1146:Grenoble
1068:Joseph I
968:aldermen
957:New York
685:Royalist
665:Lombards
570:Sorbonne
555:poor box
535:Brussels
523:Augsburg
498:Florence
460:Piacenza
346:Freising
305:Lombards
289:Augustus
248:didangku
246:texts),
232:Buddhist
208:interest
189:security
171:Florence
2042::
1925:7295543
1801:3110507
1552:(ed.).
1539::
1220:Denmark
1214:Denmark
1042:Germany
1036:Germany
935:Glasgow
931:Ireland
780:⁄
769:toasted
740:⁄
638:Belgian
627:⁄
613:⁄
562:Avignon
539:Antwerp
483:Viterbo
468:Vicenza
423:by the
421:Perugia
417:Pius II
413:Orvieto
374:Vatican
350:Bavaria
328:Henry V
182:lending
123:scholar
1981:12 May
1956:12 May
1923:
1915:
1861:
1799:
1745:
1737:
1701:6 July
1673:6 July
1648:6 July
1598:6 July
1548:". In
1533:
1295:Symbol
1248:Norway
1232:Sweden
1227:Sweden
1208:Moscow
1194:Russia
1175:Madrid
1103:France
1073:kronen
1064:Vienna
1046:Berlin
982:Europe
972:Boston
925:, 2011
729:credit
675:Under
600:under
547:Madrid
517:Europe
491:Savona
448:Mantua
444:Assisi
392:. The
362:London
354:Salins
240:jifupu
125:
118:
111:
104:
96:
2046:Usury
1921:S2CID
1859:JSTOR
1797:JSTOR
1743:JSTOR
1577:(PDF)
1378:Notes
1317:Italy
1162:Spain
1156:Spain
1134:Seine
1129:Paris
1116:, as
1089:Italy
1083:Italy
970:; in
817:usury
574:Paris
566:Arras
551:pence
543:Ghent
472:Pavia
464:Padua
456:Lucca
452:Parma
409:monti
226:China
185:money
130:JSTOR
116:books
1983:2019
1958:2019
1913:PMID
1836:2018
1754:2022
1735:ISSN
1703:2019
1675:2019
1650:2019
1600:2019
1148:and
1097:lire
1093:Rome
999:The
959:and
937:and
663:The
541:and
506:Rome
477:The
430:and
411:(at
303:and
281:Rome
279:and
260:Yuan
252:Song
244:Tang
212:Jews
165:The
102:news
1905:doi
1789:doi
1589:doi
1311:of
1246:In
1198:In
1185:In
1127:In
1087:In
851:£2.
618:to
496:In
356:in
348:in
333:In
85:by
2065::
1991:^
1974:.
1946:.
1933:^
1919:.
1911:.
1899:.
1871:^
1855:32
1853:.
1827:.
1809:^
1795:.
1785:20
1783:.
1762:^
1741:.
1731:47
1729:.
1725:.
1711:^
1692:.
1666:.
1641:.
1583:.
1579:.
1564:^
1410:^
1315:,
1291:.
991:.
861::
696:a
620:21
606:32
557:.
545:.
537:,
533:,
470:,
466:,
462:,
458:,
454:,
450:,
446:,
368:,
311:.
265:ju
218:,
180:,
2009:.
1985:.
1960:.
1927:.
1907::
1901:8
1865:.
1838:.
1803:.
1791::
1756:.
1705:.
1677:.
1652:.
1602:.
1591::
1585:8
1373:)
1369:(
847:.
837:.
811:.
782:3
778:2
775:+
773:1
742:2
738:1
629:4
625:3
622:+
615:4
611:3
608:+
258:(
250:(
152:)
146:(
141:)
137:(
127:·
120:·
113:·
106:·
79:.
50:)
46:(
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
