Pawnshops were first set up in New Zealand by early European settlers. Dealers lend money to people who leave their goods in the shop for security. If the loan is not repaid (with interest) the goods are sold. Pawnshops allow low-income people to obtain credit. Though social welfare has made this type of credit less necessary since the late 1930s, they were still a quick and easy way to get cash in the early 2000s. This pawnshop was in the Wellington suburb of Newtown in 2009.
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Te Ara - The Encyclopedia of New Zealand
by Kerryn Pollock
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