Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1852-03-17

renee, that the most severe punishmen,s
were inflicted upon those who practIsed il.
Whether dead or alive, all usurers, in those
days, came under the vengeance Of either
the Church or the State; for while the
Church was busiIy engaged in compelling,
by its ordinances, The restitution of all usu-
rious gains, the King was employed in fer
reting ou, all who died usurers, and in using
all his authority in forfeiing their estates
and confisca,ing their property. Indeed all
those who violated the laws against usury,
were liable to be indicted, and OH conviction
were branded with the ep.het Of Chris
taini Lndai2antes," and could under no cir
cumslances obtain she Kings pardon, ex-
cept OH the express condition, shat they
should forsake their evil courses" The
early writer's of this portion Of The English
common law, abound in terms Of reprosch
On those guilty wre,ches "who dared not
only to disobey the express commands Of
holy writ, but even 10 subvert the laws OF
nature, and to cause ffui,fulness in thai
which had been intended 10 be barren and
unproduc,ive." And upon this subject, Lord
Coke observes, ''lhal all usury is damned
and prohibited, and is called dry exchange
So as usury is not only against the law ol
God, and the law Of the realm, but sgains,
the law Of nature. Usurd contra ,,aturam
eSi, quia usura sau natura est steriAs nee
fruclun, habet" 3 Inst. 153.
Mr.. Noy, the author Of the celebrated
Law Maxims, and afterwards Attorney Cen
eral to James L., is reported to have said
"shat he inclined TO think tha, the guilt of
taking anoiher's money is equal 10 the guilt
of taking sno,her's llfe," and in argument
used by him before some Of the courts, grave
ly asserts, tha, according 10 an ancient book
in the Excbequer, called .Magister ct TIL
buriensio, usurers are we'll ranked amongst
murderers." 2 Rol Rep. 24O. Upon this
report learned commentator uses the fol-
lowing language. "rhe writer of this an
cient book was not singular in his opinion.
Thomas Wilson. d. G. L. and one Of the
Masters Of the Court of Requests, in work
called "a Discourse upon Usurie," which
he published in 1869, and dedicated TO Lord
Leicester, says rather quantity, "For my par.
| will wish some penaII lave Of death to bee
made against those usurers, as well as a.
gainst thieves or mur.herers, for that they
deserve death much more than such men
doe; for these usurers destroie and devour
up no. onlie hole families, but also whole
countries, and bring folke TO beggere that
have to doe with them"
!, must be recolec,ed tina. the word
'nsury" as here used; and as used in the cid
Testament, and in all the earlier writer's on
this subject, means the taking of "interest,"
in any form or shape, and 10 any extent
whatever; and not the taking Of 'sin,eres.
bey yond the rate allowed by law" In those
days of prma'ive honesty, monev, or the
value, was considered TO be-,
in the language Of Lord Coke, "barren and
and TO be SO designed by
nature; and in passing laws forbiddng usury,
or the taking of ''in,erest," the Legislators
Of those days thought they were carrying
out not only the laws of Nature, but also
The revealed law Of God. |, was not until
The reign Of Henry the VIII, tha, usury, or
The taking Of interest, was sanctioned and
allowed by law, in England. By the statute
Of 81 Henry VIII, chap. 9, the first law ever
passed in England allowing interest to be
taken for the loan of money, it is enacted,
that ten pounds per cent shall be the law
ful rale Of interes. "for the forbearance or
giving day Of paymen. Of one whole year,
aud so after that rate.' Bul the fifth Sec
ton OF this statute, expressly declares, that
''lhe person receiving more than ten pounds
per cent. shall forfeit for every offence the
treble value of the money, &C., forborn, and
SuDer imprisonment; and that one half of
such forfeiture shall 60 TO The King, and
the other TO the informer.' This Statute.
however was repealed by the Statue 5 and
b Edward vi, chap. 20, which declares that
"Usury is by the word of God utterly pro-
hlbiled as voice most odious and detesta-
bic, which thing by no godly teachings and
persuaslons can sink into The hearts of divers
greedy, uncharitable, and covetous persons.
nor yetby any terrible threatnings of Gods
wrath and vengeance, that Justly hangei III
over this realm, for the great and open usurv
therein daily used and prsctised, they will
forsake such filthy gain and lucre, unless
some temporal punishment be provided,n and
then make all interest for money, illegal:
and provides, ''lhat no person shall lend any
sum Of money for any manner of nsury. in
crease, lucre, gain, or interest, TO be had.
received or hoped for over and above the suu,
so lent upon pain of forfeiture of the value
of 'he sum lent, and also of the usury''-
The Statute Is of Elizabeth repealed the
statute Of Edward, and received that of
Henry VIII, thus establishing once more the
legal interest a. ten pounds per cent. Bu,
oy the Statute OF 2lst James !, chap II, the
rate Of interest was reduced to eight mounds
per cent, and by the 18th of Charles II,
chap. Is, was again further reduced to SIX
pounds per cent, and lastly the 18th of
Anne, chap. 16, fixes it at five pounds per