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nydus/The History of UsuryPublic

This volume provides a historical overview of usury from the Mosaic period through the Roman era and into the nineteenth century. It examines the policy of usury laws, their impact on commerce, and the conflict of legal principles across different states and countries.

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Table of Contents

Chapter I.

that these injunctions were only intended to impress upon the wealthier Jews the necessity of kindness and benevolence towards the poor of their own nation. And Milman^ informs us that the Talmud allows interest to be taken from brethren as well as strangers, but forbids usury; and the Mosaic insti- tute, which was the law of an agricultural people, forbids only unlawful interest. But even if it was as the writers first alluded to have contended, it may be urged, that though the Jews were thus enjoined from taking usury of their hreihren, yet they were expressly permitted to take it of a stranger.^ And then we have an inconsistency not easily reconciled, or the assurance that the Mosaical prohibition was not a purely moral precept of universal obligation upon mankind. '' For if the taking of interest was malum in se, it could not have been permitted under any circumstances whatever ; and we are therefore left to infer that the taking of usury was not contrary to those moral precepts or natural law which ex- isted before, and survived the legislation of Moses. And that even under the Mosaical law, as Milman or who shall rest upon thy holy hill ? * * * He that hath not given his money upon usury, nor taken reward against the innocent." — (^Paalms xv., 1-5.)

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