Synopses & Reviews
Puncturing the myth of the seamy storefront stocked with stolen watches and overseen by a shifty proprietor, In Hock reveals that pawnshops have long played an integral role in Americans economic lives.
The definitive history of pawnbroking in the United States from the nations founding through the Great Depression, this volume demonstrates that the practice was inextricably intertwined with the rise of capitalism. The class of working poor begotten by this economic tide could make ends meet, Wendy Woloson argues, only by regularly visiting pawnshops to supplement their inadequate wages. Nonetheless, businessmen, reformers, and cultural critics berated the shops for promoting vice and used anti-Semitic stereotypes to cast their proprietors as greedy and cold-hearted. Parsing and subverting these caricatures, Woloson shows that pawnbrokers were in fact shrewd businessmen, often from humble origins, who honed sophisticated knowledge of a wide range of goods and their values in different markets.
In the process, she paints a resonant portrait of the generations of Americans whose struggle for economic survival often depended on an institution that has remained, until now, woefully misunderstood.
Review
andldquo;Few occupations are as misunderstood as pawnbroking. Wendy Woloson challenges the many myths associated with pawnbrokers: criminal accomplices, traffickers in stolen goods, immoral usurers, and predatory Shylocks. This original and insightful analysis of the informal and marginal economy explains how poor, working-class, and sometimes wealthy Americans adapted to economic hardship and temporary setback. In Hock reveals the forgotten evolution and hidden contradictions of the emerging consumer economy in modern America.andrdquo;andmdash;Timothy J. Gilfoyle, Loyola University
Review
"Wendy Woloson incisively probes the boundaries of American capitalismand#8212;how to distinguish and#8216;marginaland#8217; markets from pivotal ones; what separates legitimate and illicit economic activities, both in the eyes of the law and according to the norms of ordinary citizens; which groups of Americans embraced consumer culture and its vision of alienable property rights, right down to the rings on one's fingers and the bells on one's toes; and which groups lambasted pawnbroking as an affront to Victorian sentimentalism and evangelical morality. In Wolosonand#8217;s artfully interwoven account, the culture of pawning becomes not just an assessment of the ready cash value that many nineteenth-century urbanites attached to their possessions, but a site of creative commerce; at least sometimes, a terrain of neighborly exchange; and always, a social and political battleground."
Review
andldquo;In Hock is a remarkable and remarkably original book. With her keen ear for the stories and anecdotes that make the milieus of the working poor come alive, Wendy Woloson captures the vivid and untold history of pawnbroking from the late eighteenth century through the Great Depression, and writes with panache on the many changes this period heralded. By combining economic, social, and cultural history in order to work in the new and mysterious terrain of the buyers, sellers, and lenders thriving at the edge of our andlsquo;legitimateandrsquo; society, In Hock fulfills its promise to do what no other book has done.andrdquo;andmdash;Ann Fabian, Rutgers University
Review
and#8220;Woloson frees the business from its nineteenth-century anti-Semitic entanglements and points to the highly symbiotic relationship among pawnshops, the industrial city, and wage-dependent workers in a cash-poor society. Well written and accessible to a wide and diverse audience. Highly recommendedand#8221;
Review
and#8220;This excellent study of a specialized small business is filled with insights about the economic behavior of the poor throughout history, up to todayand#8217;s and#8216;Great Recession.and#8217;and#8221;
Synopsis
The definitive history of pawnbroking in the United States from the nationandrsquo;s founding through the Great Depression, In Hock demonstrates that the pawnshop was essential to the rise of capitalism. The class of working poor created by this economic tide could make ends meet only, Wendy Woloson argues, by regularly pawning household objects to supplement inadequate wages. Nonetheless, businessmen, reformers, and cultural critics claimed that pawnshops promoted vice, and employed anti-Semitic stereotypes to cast their proprietors as greedy and cold-hearted. Using personal correspondence, business records, and other rich archival sources to uncover the truth behind the rhetoric, Woloson brings to life a diverse cast of characters and shows that pawnbrokers were in fact shrewd businessmen, often from humble origins, who possessed sophisticated knowledge of a wide range of goods in various resale markets.and#160;and#160;and#160;and#160;and#160;and#160;and#160;and#160;and#160;and#160;and#160; A much-needed new look at a misunderstood institution, In Hock is both a first-rate academic study of a largely ignored facet of the capitalist economy and a resonant portrait of the economic struggles of generations of Americans.
About the Author
Wendy Woloson is an independent scholar and consulting historian living in Philadelphia. She is the author of Refined Tastes: Sugar, Consumers, and Confectionery in Nineteenth-Century American Culture.
Table of Contents
Acknowledgments
ONE: In Hock
TWO: The and#8220;Jew Brokerand#8221; in American Culture
THREE: In Defense of Pawnbrokers
FOUR: The Economies of Everyday Life
FIVE: Pawnbroking and Criminal Activity
SIX: Loan Societies and the Legitimation of Pawnbroking
SEVEN: Unredeemed
Notes and#160;
Index