Chaptee II.

the Church the right to punish usurers according to the laws of the same — that is, a further fine, imprisonment, and exposure on the " Pillaire, to their open rehuke and shame." Various new devices were then resorted to, by money-lenders, to cover usury and evade the law, such as fictitious sales of goods, etc., so that it became necessary to counteract these subtleties by another act, which was passed in 1496.^ By this latter statute, the usurer was subjected to a forfeiture of a moiety of the value of the property which was the subject of the bar- gain, one-half to the king, and the other half to the informer, and reserved to the " spiritual juris- dictions their lawful punishments, as in every case of usury." Thus the law remained for about fif^ years, when in the reign of Henry VIII.^ the first act recognizing the legality of taking "interest upon loans," was passed.^ By this statute, ten per cent, was allowed for interest on all loans of money, or other things, " for the forbearance or giving day of payment of one whole year, and so, after that rate, for a longer or shorter time." It