 Their reputation was also harmed by the Charitable Corporation, which demonstrated that pawnbroking encouraged dishonesty by giving thieves an opportunity to sell stolen goods
and allowed a person planning bankruptcy to purchase goods on credit and dispose of them for cash (defrauding their creditors).The Pawnbroker's Licence Law of 1785 licensed pawnbrokers for £10 in London and £5 in the country; the interest rate was set at percent per month, and the length of loans was confined to one year.Modern pawnbroking legislation began with the Pawnbrokers Act of 1800.