Meanings (ES + gloss)
empeñar • pignorar
To give as security on a loan of money; especially, to deposit (something) at a pawn shop.
A certain, and probably an appreciable, proportion of his so-called money at call and short notice would consist of fortnightly advances made to members of the Stock Exchange again…
But you'd better take your diamond ring, you'd better pawn it, babe.