pawnbroker

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pawnbroker,

one who makes loans on personal effects that are left as security. The practice of pawnbroking is ancient, as is recognition of the danger it involves of oppressing the poor. In fact, the Bible provides the poor with a number of safeguards against oppression from their creditors. According to Ex. 22.25–27 and Deut. 24, 6, 12, 13, 17, pawnbrokers may not practice usury, may not take necessities of life as security, and in general must not take as a pledge any article whose loss would severely injure the borrower. In the Middle Ages, Christians generally were forbidden by the church to lend money at interestinterest,
charge for the use of credit or money, usually figured as a percentage of the principal and computed annually. Simple interest is computed annually on the principal.
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, and pawnbroking was left largely to the Jews as one of the few means of a livelihood open to them. Lombards also engaged extensively in moneylending, however, and in London, the financial center is still called Lombard St. In some Latin American and European nations pawnshops are operated under religious, charitable, or municipal auspices. The most famous such pawnshop is Vienna's Dorotheum, founded (1707) by Emperor Joseph I and still run by the state to provide the poor with easy credit at low rates of interest. In Great Britain and in American states, pawnbroking is regulated by usury laws. Pawnshops are predominantly found in low-income areas, where residents are often unable to establish other types of credit.

pawnbroker

a dealer licensed to lend money at a specified rate of interest on the security of movable personal property, which can be sold if the loan is not repaid within a specified period
References in periodicals archive ?
I'm not happy, but there we are,' said Dunlop, who may step Pawn Broker up to Group One company to tackle the Prince Of Wales's Stakes at Royal Ascot.
Mine, the 6-4 favourite, readily went into the lead from Sublimity over a furlong out, but Pawn Broker produced an irresistible finishing burst to get up in the closing stages and score by a length.
But if Ian Balding's Border Arrow, third behind Daliapour and Fantastic Light in the Coronation Cup at Epsom, is firing on all cylinders, then I expect the progressive Pawn Broker will have to settle for minor honours.
David Elsworth's colt should run well and, no doubt, John Dunlop will be looking on with interest, for his Epsom Derby hope Sakhee has twice beaten Pawn Broker this season.
Pawn Broker and Finished Article, who is not certain to get a run, could represent him in the Tote Cambridgeshire.
Competition for the pounds 15,000 first prize is hot, with last year's winner Adiemus making the line-up, in company with the David Elsworth-trained pair Indian Creek and Pawn Broker, as well as David Loder's duo Parasol and With Reason.
Unfortunately I cracked on Monday as I simply had to back Pawn Broker at Kempton.
David Elsworth's Pawn Broker (Richard Quinn), second to Sakhee in Sandown's Thresher Classic Trial and the JWE Telecom Dante Stakes at York, John Dunlop's Chester Vase winner Millenary (Pat Eddery) and the Paul Cole-trained Mastermind (Jimmy Fortune) complete the British challenge.
The Richard Hills-ridden colt was able to hold off the strong challenge of Pawn Broker in the final furlong, but he is unlikely to get his favourite conditions at Epsom.
Far Lane has a 7lb penalty for his win in the Group 3 Darley Stakes at the last meeting, where he beat Pawn Broker - who renews rivalry - by half a length.
German challenger Boreal brings an international flavour to the race while the line-up is completed by David Elsworth's five-year-old Pawn Broker.
The Whitsbury-based trainer could also run Pawn Broker in the Sandown race.