Industry WIKI

Pawnbroking, lending money on portable security, began in ancient history. The practice was widespread in many parts of the world, from ancient Greece to medieval China and medieval Europe.

Strahan, Paul & Bates was a London private banking house founded in the 17th century and with a reputation for respectability. The bank failed in 1855 with liabilities eventually estimated at £750,000 (equivalent to £70,000,000 in 2025). The subsequent bankruptcy proceedings revealed that customers' securities had been sold or otherwise disposed of by the partners and the proceeds had be