CodalSearch this book — or all of Codal…⌘K
nydus/UsuryPublic

Calvin Elliott presents a logical argument for the condemnation of usury. The text includes a discussion on the evolution of the English language and the changing meanings of specific terms used in the King James Bible.

Page 221 of 258
Table of Contents

CHAPTER XXXVI. ToC

cruelty should end and that no citizen should be placed in irons or sold into slavery for debt.

At the close of the republic the rate was twenty-four per cent.

England: In the earliest periods of which we have any records we find that the doctrine, that letting money to hire was sinful, prevailed universally over the island of Great Britain. It was the prevailing opinion that interest, or usury, as it was then called, was unjust gain, forbidden by divine law, and which a good Christian could neither receive nor pay. In common law the practice of taking increase was classed among the lowest crimes against public morals. So odious was it among Christians that the practice was confined almost wholly to the Jews, who did not exact usury of Jews but of the Christians.

The laws of King Alfred, about 900 A.D., directed that the effects of money-lenders upon usury should be forfeited to the king, their lands to the lords under whom they were held, and they should not be buried in consecrated ground.

By the laws of Edward the Confessor, about 1050 A.D., the usurer forfeited all his property and was declared an outlaw and banished from England. In the reign of Henry II, about the close of the twelfth century, the estates of usurers were forfeited at their death and their children were disinherited.

His successor, Richard I, was yet more severe, forbidding the usurers attending his coronation, nor would he protect them from mob violence.

During the thirteenth century the severities against the usurers were not relaxed. King John confiscated their gathered wealth without scruple. It is recorded that he exacted an enormous fine of a Jew in Bristol for his usuries, and when the Jew refused to pay he ordered one of his teeth to

221