Pawnshops are very useful for people who have bad credit or are unable to get a traditional loan for another reason. Some people simply prefer to get a loan through a pawnshop rather than get a standard type of loan. In many ways, pledging an item is desirable for other types of loans. You can get money right away and if you repay your loan, you can get your item back. This way, you have an interest-free loan. ”give or deposit (something) as collateral” in exchange for payment of borrowed money, etc., 1560s, pledge (No. 1). Related: Promised; Collateral. Throughout history, pawnshops have granted loans of money in exchange for valuables. These items are then kept by the pawnshop for a contractual period during which the owner of the item can repay the loan in cash plus an amount of interest to recover their property. If they are not able to raise the money needed to buy back the item, the broker has the right to sell the item to another buyer. You stick to using which ones? Turn to history as a guide.

There is an easy way to get rid of the blues by pledging tomorrow to pay off today`s debts. As for pledging or selling, it would have been very difficult to do it with the young couple if it had been possible. In the 18th century, public pawnshops began offering low-interest loans to the poor to reduce debt. Im 19. In the twentieth century, the practice of pledging clothes on Mondays and picking them up on Fridays – the ”payday” – was a common way for the poor to spend the week. The rich also resorted to pawnshops, whether in pawnshops or other institutions, including international banks. Sienas monte`s clients included patricians, lawyers and doctors. In Spain, Charles I (1516–1558; Emperor of the Holy Roman Empire under the name of Charles V (1519-1556) guaranteed loans with pledged income from unoccupied sinecures.

The Republic of Venice pledged jewelry from the church of San Marco in exchange for a loan from the banker Agostino Chigi (c. 1465-1520). In 1456, the banker Tommaso Spinelli lent Pope Callistus III (reigned 1455-1458) nineteen thousand guilders in exchange for a tiara dotted with jewels of the sculptor Lorenzo Ghiberti (c. 1378-1455). The Basel branch of the Medici Bank accepted jewelry as a pawn and revealed that the Medici sometimes served as glorified pawnshops for the rich and famous. In England, where Jews had been expelled in 1290, an Act of Parliament in 1603 attempted to control the alleged criminal tendencies of pawn-making, which the rich sometimes used to raise funds for their daughters` dowries. She had saved money, and with what she got by promising the trophy, she was pretty well off for her position in life. Whether through pawnshops, institutions such as the monti di pietà or, more rarely, large banks, privileges were the only source of credit for the needy in the event of a seasonal or unexpected crisis and allowed the powerful to raise funds for valuables. It was thus one of the financial strategies of the rich and the poor in early modern Europe. Since people who needed quick money were more likely to be on the margins of society during this period, measures were taken to prevent the pledging of stolen items. The Pawnbrokers Act of 1872 established regulations to protect pawnshops who accidentally sold stolen items.

This act also set the amount of interest that could be charged on pledged items and established general guidelines for the industry that established a regulatory model that continues to this day. Dear Word Detective: OK, I first did my own research, then I searched your online archive and then searched your entire website. And I noticed (by chance) that just a few months ago you talked about enjoying the Pawn Stars show. But I don`t think you`ve ever talked about the story of the ”farmer.” The dictionary entries I found only fascinated me even more. He talks about the chess piece ”Bauer” and how it goes back to ”Pown” and ”Peoun” (perhaps related to infantrymen and maybe ”Peon”) and even to ”Pes” and ”Pedo” in their relationship to the feet. Maybe my possessions have feet and are leaving to be promised. But there is the interesting definition of something that is used to promote the interests of another, which is undoubtedly true in chess, and in the sense of conversation, to be a pawn in the big plan of things. But it could also apply to pledging things to promote my own interest or the interest of the pawnshop. There is also the transitive verb ”pledge”, which is closer to what I am looking for, but I have not found an etymology of the meaning of the verb. I came to the conclusion that ”farmer” is a nautical term, and probably a nautical acronym (probably in use since the 1700s). Sorry, I just had to say that.

Anyway, could you please help? – Gary. The Duke compensated for this deficiency by pledging his own jewels and those of Lady Wentworth. In the 14th and 15th centuries, peasant sacrifices became victims in Europe, as short-term loans became an important means of financing businesses and providing temporary aid to the poor. Farmers have also funded events that have changed the history of the world! Queen Isabella of Spain has pledged her royal jewels to finance Christopher Columbus` journey to the New World. The word farmer comes from the Latin word patinum and means fabric or clothing. Clothes were often the most precious object owned by the working class. Although the majority of pawnshops have always been managed by the private sector, in the 18th century in Europe, some public pawnshops were created as non-profit funds that offered low-interest loans to the poor to contain debt. The practice of pledging clothes on Mondays and picking them up on Fridays – the payday – was a common way for the poor to spend the week in the 19th century. COLLATERAL. Collateral is the practice of taking out a loan for an object greater than the amount of the loan.

The lender may sell the item at the end of the loan term if the borrower, intentionally or unintentionally, does not repay both principal and interest. Literary references testify to the importance of commitment in early modern Europe: in Shakespeare`s King Henry IV, Part TWO (1598), Falstaff, who is arrested for bad guilt, tries to convince Mistress Quickly to pawn her plate and tapestries in her name. If you decide you no longer want your item, you can simply allow the pawnshop to take possession of it. The pawnshop, in turn, sells the item to its customers. Pawnshops are a great way to get rid of your unwanted items. We all have things lying around our house, so why not use them as a pawn for a loan, or even better, sell them to a pawnshop and walk away with extra money? Pullan, Brian. Rich and Poor in Renaissance Venice: The Social Institutions of a Catholic State until 1620. Cambridge, Mass., 1971.

Overview of the survival strategies of the different classes of Venice, including the use of Monti di Pietà and other pawnshops. Middle English pown, from Anglo-French peoun, paun, from medieval Latin pedon-, pedo foot soldier, from Latin ped-, pes foot to more on foot I found this quite interesting.. .