United States
The pawnbroker in the United States is, generally speaking, subject to considerable legal restriction, but violations of the laws and ordinances are frequent. Each state has its own regulations, but those of New York and Massachusetts may be taken as fairly representative.
Brokers of pawn are usually licensed by the mayors, or by the mayors and aldermen, but in Boston the police commissioners are the licensing authority. In the state of New York permits are renewable annually on payment of $500, and the pawnbroker must file a surety bond with the Department of Consumer Affairs, in the sum of $10,000. The business is conducted on much the same lines as in England. The rate of interest is 4% per month and the loan is written for a period of 4 months, with an additional 30 day grace period. To enact higher rates is a misdemeanor. Unredeemed pledges may be sold at anytime after the legal time for the loan. New York contains one pawnshop to every 12,000 inhabitants. In the state of Massachusetts unredeemed pledges may be sold four months after the date of deposit. The licensing authority may fix the rate of interest, which may vary for different amounts, and in Boston every pawnbroker is bound to furnish to the police daily a list of the pledges taken in during the preceding twenty-four hours, specifying the hour of each transaction and the amount lent.
Read more about this topic: History Of Pawnbroking
Famous quotes related to united states:
“Yesterday, December 7, 1941Ma date that will live in infamy—the United States of America was suddenly and deliberately attacked by naval and air forces of the Empire of Japan.”
—Franklin D. Roosevelt (1882–1945)
“Steal away and stay away.
Don’t join too many gangs. Join few if any.
Join the United States and join the family
But not much in between unless a college.”
—Robert Frost (1874–1963)
“You are, I am sure, aware that genuine popular support in the United States is required to carry out any Government policy, foreign or domestic. The American people make up their own minds and no governmental action can change it.”
—Franklin D. Roosevelt (1882–1945)
“I thought it altogether proper that I should take a brief furlough from official duties at Washington to mingle with you here to-day as a comrade, because every President of the United States must realize that the strength of the Government, its defence in war, the army that is to muster under its banner when our Nation is assailed, is to be found here in the masses of our people.”
—Benjamin Harrison (1833–1901)
“Vanessa wanted to be a ballerina. Dad had such hopes for her.... Corin was the academically brilliant one, and a fencer of Olympic standard. Everything was expected of them, and they fulfilled all expectations. But I was the one of whom nothing was expected. I remember a game the three of us played. Vanessa was the President of the United States, Corin was the British Prime Minister—and I was the royal dog.”
—Lynn Redgrave (b. 1943)