People's Pilot, Volume 6, Number 6, Rensselaer, Jasper County, 30 July 1896 — THE CURSE OF USURY. [ARTICLE]

THE CURSE OF USURY.

A COMPREHENSIVE REVIEW OF THE SUBJECT. Tb« Qnaattoa Considered from « Bib Ileal, Literary and Historical Standpoint —No Place o n Earth Nor In Heavnn for Interest grabbers. Robinson’s Bible Encyclopedia defines the word thus: “Usury, a premium received for the loan of a sum of money, over and above the principal.” The Bible dictionary gives the same definition. Leviticus, xxv 36, says: “Take thou no usury of him, or increase, but fear thy God.” Here the Bible itEelf defines usury to be increase above the principal. Same chapter and 37th verse says: “Thou shalt not give him thy money upon usury, nor lend him thy victuals for increase.” It seems that Moses in writing this law foresaw that this word usury would some day be misunderstood or abused, so he took the precaution to define the word by using the words “or increase,” the same as a man speaking of the Christian church in a community where he was not certain the people would ]fnow his meaning, would say Christian or Campbellite church. Webster’s dictionary defines the word usury thus: First definition: “A premium paid or stipulated to be paid for the use of a sum of money lent, interest.” Second definition: “The practice of taking interest.” Third definition: “American Law, a premium or compensation stipulated to be paid for the use of money borrowed beyond the rate of interest established by law; Jllegal interest.” In making dictionaries the best definition of a word is always given first, second best next, and so on. Webster in defining the word usury placed the American law definition third on the list. We will here state that the American law dictionary is the only authority on earth that defines usury to be illegal interest. All other authorities on language in the world define the word to be interest in any amount, without recognizing any legal interest in it.

Lord Eacon, writing upon the subject of usury more than two hundred years ago, said:. ‘“Usury bringet.h the wealth of realm into few hands.' On this subject we find in the laws of Moses: Exodus, xxi, 25: “If thou lend money to any of my people that is poor by thee, thou shalt not be to him as an usurer, neither shalt thou lay upon him usury.” Leviticus xxv, 36 and 37: “Take thou no usury of him, nor increase: but fear thy God; that thy brother may live with thee.” Deuteronomy xxiii, 19 and 20: “Thou shalt not lend upon usury to thy brother: usury of money, usury of victuals, usury of anything that is lent upon usury.” Nehemiah, who was a man of God and a noble prince, while rebuilding the walls of Jerusalem, his people, whom he required to work upon the walls, became indeb’ed much after the fashion of today. He was so interested with the work of rebuilding the walls and the city that he took no notice of the condition of his people for a time: but after a few years they began to complain, much as the people are doing today. They said: “We have mortgaged our lands, vineyards and houses, that we might buy corn because of the dearth. Neither is it in our power to redeem them.” “We bring into bondage our sons and our daughters to'be servants.” Nehemiah v, 6,7, 10 and 11: “And I was very angry when I heard their cry and these words.” “Ye exact usury every one of his brothers. And I set a great assembly against them.” “I pray you leave off this usury, and restore I pray you, to them, even this day, their lands, their vineyards, their olive yards and their houses, also a hundredth part of the money, and of the corn and of the wine ye exact of them.” Nehemiah saw at a. glance the trouble with his people, and he knew the injustice and robbery of the mortgage and usury system, and he repudiated the whole business and compelled the usurers to return a part of their illgotten gain. Read the fifth chapter of Nehemiah. Psalms xv, the prophet David asked the Lord: “Who shall abide in the tabernacle? Who shall dwell in thy holy hill, and the Lord answered:” “He that walketh uprightly and worketh righteousness and speaketh the truth in his heart. He that putteth not out his money to usury, nor taketh reward against the innocent. He that doeth these things shall never be moved.” Here we have the words of God that he who lives by taking interest from his fellow man shall not enter into the kingdom of heaven. Ezekiel 8 and 9: “He that hath, not given forth upon usury, neither has taken increase, that hath withdrawn his hand from iniquity, hath executed true Judgment between man and man; He is just, he shall surely live, saith the Lord God.” Same chapter, 12 and 13 verses: "He that hath oppressed-the poor and needy, hath spoiled by violence: He that hath given forth upon usury, and hath taken Increase: Shall he then live? He shall not live. Ha hath done all of thoee abominations. He shall surely die." Here we have the moot soettlve.

dear and unmistakable language against usury. We have also the highest authority in the land establishing the fact that any increase above the principal is usury. There are many other passages condemning usury and the oppression of the poor, too numerous to quote, while there is only one that seems to in the least tolerate it. That is in Deuteronomy, where it says:: “Thou mayest lend to a stranger on usury.” “Stranger” in this case has been construed to mean foreigner or enemy. Robinson’s Bible Encyclopedia on this subject says: “In this place the Lord seems to tolerate usury toward strangers; that is the Canaranites and other ifeople devoted to subjection, but not toward such strangers against whom the Hebrews had no quarrel. To exact usury is here, according to Ambrose, an act of hostility; it was a kind of waging war with the Canaanites and ruining them by means of usury. The true inference seems to be that God did ip-deed tolerate, but not approve, the usury which the Hebrews received from the Canaanites. because it could not be entirely prevented. Our Savior, however, has revoked all such tolerations which obtained under the old law.” King Pompillius made his laws so rigorous against usury that men who lent money for interest were not allowed to testify in a court of justice. He did not consider them honest enough to give testimony in disputes between man and man; and when they died he did not allow them to be buried in the same graveyard with Christian people. King Henry 111 forbade his subjects to borrow money from foreign countries, because he knew it would enslave his kingdom to another power, and thus destroy his kingdom. It seems that the ancients understood the evil influences of usury much better than the people of today. The first law ever passed by any ruler giving any recognition of usury was passed by the English parliament in the year 1300. According to Rollins’ history in that year parliament passed a law substituting the word “interest” for the word “usury” and made it lawful under certain circumstances to take interest to a certain amount. Rollins says that the word interest was substituted for the word usury because the word usury was odious to the Christian world. From his statement of the transaction, and from our knowledge of the character of the Jew, we are thoroughly convinced that Jews bribed a portion of the English parliament to work that measure through to enable them to rob and enslave the people. The cunning device of changing the word was done to deceive the people and keep them from revolting against the law-makers. From that day to this the Christian world has ceased to oppose the evil of usury, because the odor was taken away from the onion by calling It a rose.