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The Birth of Pawnshops

Some of the first public pawnshops opened in Perousa and Gubbio in Italy in 1462 and 1463. While supported by the Franciscans they quickly spread throughout Italy. On one hand the church condemned credit and cast unhappy glances on both borrowers and lenders. On the other hand the church found it necessary to open these pawnshops in an effort to help poor people and protect Christians from the sin of usury.

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