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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.

Page 58 of 152
Table of Contents

Chaptee II.

authority of our law writers, be they ever so great, when they deliver their own opinions, and when they report the decisions of the Courts. Lord Coke's own opinions claim general, not universal submission, and it is with the greatest diffidence that I venture to suggest that, in this ingtance, 1 feel myself under the necessity of withholding my assent to the opinion of that great man :"

" The preamble of this Act* (he continues at page 64) speaks too clearly of itself to need comment. ' Where, before this time, divers and sundry acts, statutes and laws have been ordained and made within this realm for the_ avoiding and punishing of usury, being a thing unlawful, and of other corrupt bargains, shifts and chevizances, which acts, statutes and laws have been so obscure and dark in sentences, words and terms, and upon the same so many doubts, ambiguities and questions have arisen and grown, and the same acts, statutes and laws have been of so little force and effect, that by reason thereof little or no punishment hath ensued to the offenders of the same, but rather hath encouraged them to use the same.' It is matter of serious importance to ascertain precisely what was repealed and what was enacted by this statute. * * * The question now under discussion is, whether by this Act of Henry VIII. the common law of usury were made void and of none effect ?

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