The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1855-04-06
USURY LAWS AND THE HOLY SCRIP
TURES.

Several articles, in which it was asserted
that Usnry Laws were sanctioned by .the
Scriptures which are Supreme over the con-
science" having appeared in the "Intelligen- |
cer," the organ of the Dutch Reformed
Church, In the city Of New York, one of the
most distinguished preachers of that church,
dissenting from the assertion, has contributed
two articles to the same paper in which he
fix, under penalties, an arbitrary rate for the
usance of money, are contrary to all sound
principles of political economy, and SO far
from being sanctioned by Scripture, are re-
pugnant to common sense. The reverend
writer says:
Usury, when the Bible was translated, had
no reference to the laws Of the State of New
! York; but meant any interest, little or mnch,
one per cent, seven per cent. or ten per cent;
and every text in the Bioe that condemns
usurv, condemns the taking of any, even the
least pay for money lent. Usury laws Qound
MS you say in every country fixing any rate
of interest on q debt, nre, therefore, on vOnr
own logic, contrary to the scriptures, switch
| are supreme over the conscience, and should
at once be repealed, us it is infamous to le-
galize wrong ..
After following ont the argument from the
Old Testament the writer next turns to the
| New:
Thus much for the Old Testament author.
| tiles. Let us turn 10 the new, and, as we all
| believe, the testimony OF the one cannot be
! contradictory to the other. We find the
word usurv in only two texts, and those in
different versions of the same parable, In
Matt NV. 27, we read, Qhe lord says to the
slothiul servant t,)-"Ihou ounhtest to have
put my. money to the exchangers, and then
at my coming, should have received mine
own with usury." If, as you say, the Old
Testament condemns usury, how is It that
/ the New approves of it, and m kes il, in
1 some cases Il duty! "1'he exchlngers" and
"the bank" liable Keepers and table, repre-
sent, us nearly MS possible, brokers offices,
where money is deposited to be let out for
! Interest," Wall street business-and our
divine +, ach,r would not assert prin-
ciple in n parable which is not true IN
fact Therefore, the inference is clear that
usury in the scriptural sense of the word, is
not wrong but, on, the contrary, prudent
use of money, as of every form of worldly
substance, is required. Do, dear Christian
Intelgencer, take back the sentence which
declares all of us free-tr. ders to be heretcs.
1t is y infu to differ from you, but to be put
by you in the category of those who deny
the Divine authority, is more than we can
bear. I'll l. 4,e ..... 81.
The writer next argues the absnrdity OF
the present usury laws on the ground Of po-
/ lticu economy In noticing the variation in
the rules of interest legalized in the several
States, and the impossibility of giving uni
form limit, an excess of which shall consti-
tute the crime which the law proposes to
punish, he adds
But if the geographical miles make no
difference in The morality, much less should
times; and it, in easy times, cannot compel
you to borrow my money at even six per
cent, what right have you, or the law, to
compel me to lend it to you at seven, when
hard tmesNand the risk make it worth ten?-
Perhaps my conscientious respect for law
will not allow me to violate the restricting
enartncnts. What is the conscquenre!-
Seven per cent. does not cover the risk, and,
| theieiVieti w ho' 'e"u ~ W s"u "O "''' ~
much capital is kept out OF market money,
therefore, is worth more; and you, to whom
II loan is necessary, must either break, or
break the law, by borrowing from some Shy
lock, who cares not for law, ut two per cent
a month, or any higher rate he chooses to
charge you. That would be protecting the
borrower with vengeance But, IN. the
name OF justice, what right has the borrower
to protection more than The lender! W hat
does man borrow money Tor but 10 make
money with it! Why is he pressed tor mon,
ey but from the difficulties OF trade! and
must the lender bea. all the risks of the Dor
rower's trade for seven per cent. in bad times
as well as good tines The trader perhaps
makes h'e ana twenty per cent, on ms hour
but has notthe lender an equal r,El. 10 MAKE
"adaS "u aai' i'ba i Is the moraI;tv Of the tbing
| changed by the money being turned into
flour or cotton! Nay, does not my right run
| through his hands into the flour or cotton