The Order of Our Lady of Ransom was founded in the Thirteenth Century by St. Peter Nolasco (Jan. 31) and St. Raymond of Pennafort (Jan. 23), aided by King James of Aragon. The object of the Order was to redeem Christians held in slavery by the Mohammedans. Pope Gregory IX instituted the feast of Our Lady of Ransom and afterwards it was extended by Pope Innocent XII to the Universal Church.
(Source: The New Roman Missal, Rev. F. X. Lasance)