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


renee, tina, the most severe punishmen,s
were inflicted upon those who pracllsed il.
Whether dead or alive, all usurers, in those
days, came under the vengeance Of either
the Church or the Stale; 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
re,ing gu. all who died usurers, and in using
all his authority in forfeiing their estates
and coniscatiug their property. Indeed all
those who violated the laws against usury,
were liable to be indicted, and on convict
were branded with the ep.het Of s'Chris-
taini Mdaisantes," and could under no cir
cumslances obtain the Kings pardon, ex-
cept on 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 reproach
On those guilty wre,ches "who dared no.
only TO disobey the express commands Of
holy writ, but even 10 subvert the laws OF
nature, and to cause fruilfulness in tina.
which had been intended TO be barren and
unproduclive." 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 agains, the law OF
God, and The law Of the realm, bu. against
the law Of nature. Usurd contra naturans
esi, quia usura sau nGtura est Sterilis nee
tructum habeto 3 Inst. l53.
Mr.. Noy, the author Of the celebrated
eral to James l., is reported to have said
"that he inclined TO think tha. the guilt of
taking anoher's money is equal 10 the guilt
Of taking snother's life" and in argument
used by him before some Of the courts, grave
~ asserts, tina, according 10 an sncien, book
in the Exchequer, called .Hagister ct TIL
6urienSio, Insurers are we'll ranked amongst
murderers." 2 Rol Rep. $40. Upon this
report learned commentator uses the fol-
lowing language. "The writer of this an
cient book was not singular in his opinion.
Thomas Wilson. d. C. L. and one Of the
Masters Of the Cour. of Requests, in a work
called "a Discourse upon Usurie," which
he published in 1869, and dedicated to Lord
Leicester, says rather quantity, "For my part
| will wish some penal lave Of death to bee
made against those usurers, as we'll as a.
gainst thieves or murtherers, for that they
deserve death much more than such men
doe; for these Insurers desiroie and devour
up no. onlie whole families, but also whole
countries, and bring folke to beggere tina,
have 10 doe with them"
!, must be recollec,ed tina. the word
''nsury" as here used; and as used in the cid
Testament, and in all the earlier writers on
this subject, means the taking of "interest,"
IN any form ar shape, and TO any extent
whatever; and not the taking Of "in,erest
beyond the rate allowed bv law" In those
days of primalive honesty, monev, or The
value, was considered TO be,
in the language Of Lord Coke, "barren and
unproductive,'' and TO be SO designed by
nature; and in passing laws forbdding 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 1t was not until
the reign Of Henry the VIII, that usury, or
the taking Of interest, was sanctioned and
allowed by law, in England. By the statute
of 81 Henry VIII, chap. g. the first law ever
passed in England allowing interest 10 be
taken for the loan of money, it is enacted,
that ten pounds per cent. shall be the law
full rate Of ineres, ''for the forbearance or
giving day Of paymen, of one whole year,
aud so alter that rate" But 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, Sc, forborn, and
SmHDer Imprisonment; and that one half ofI
such forfeiture shall go TO the King, and
the other 10 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 G od utterly pro-
hbited as voice most odious and detesta-
bic, which thing by no gody teachings and
persuasi0ns can sink into the hearts of divers
greedy, uncharitable, and covetous persons.
nor ye. by any terrible lhrea,nings of Gods
wrath and vengeance, that Justly hange,h
over this realm, for the great and open usurv
therein daily used and pracIised, thew will
forsake such filthy gain and lucre, unless
some temporal punishment be provided" and
then make oil interest for money, ILLEGAL
and provides, ''lhat no person shall lend any
sum Of money for any manner of usury. in
crease, lucre, gain, or interest, 10 be had.
received or hoped for orer and above The sum-
so lent upon pain of forfeiture of the value
Of The 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 at ten pounds per cent. Blu,
by the Statute of 2lst James !, chap II, the
rate OF interest was reduced to eight pounds
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. l6, fixes it at five pounds per