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What is a peonage?

What is a peonage? Here are some definitions.

Noun
  1. The state of being a peon; the system of paying back debt through servitude and labour; loosely, any system of involuntary servitude.
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Examples
The master was tried for peonage in Texas, but was not convicted.
It also covers persons who are held against their will to pay off a debt, a practice known as peonage.
Horse-hire, peonage, and most mechanical work must be paid for in advance.
Many Yaqui and Mayo escaped from hacienda peonage, and the Yaqui had a large portion of their ancestral lands restored to them.
The transaction carries overtones of moves to reduce the autonomy of rural African Americans with the debt peonage of sharecropping or exploitation in industrial mills.
In his message Governor Dawson declared without equivocation that a system of peonage existed under the guard system.

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