Charitable Corporation

The Charitable Corporation was an institution in Britain intended to provide loans at low interest to the deserving poor, including through large-scale pawnbroking. It was established by charter in 1707. Its full title was "Charitable Corporation for the relief of the industrious poor by assisting them with small sums upon pledges at legal interest". It became dishonest, and Smollett called it a "nefarious corporation". Certain of the directors speculated wildly and lost most of the shareholders' money.

This article is about a specific historical British corporation. For charitable companies, see charitable organization.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.