The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1876-08-24
HISTORY OF INTEREST IN ENGLAND.


With an Occasional AIIusion to the Rate in
Other Countries, from Early Times
until the Year l77o.
Editor indianapolis Sun.
Before entering upon the subject prop
er, will remark that the word ''usurys
..nciently meant interest, for the use OF
money is general, and its present signifi-
cation is OF comparatively modern orig
in. As used in the Scriptures-Ex. p:
IS Lev. %: So, 81: Deui. %: 10, %
extravagant and exorbitant rates are not
intended.
The first prohibition to take usury in
England was in the year 1913. 1t Was in
this year that Sir Robert Filmer publish
ed i discourse on whether ita be lawful
to take use for money, in which he says:
That excepting an imperfect clause in
the C..uucil of Cacluith about the year
1917 till 1913, when King Edward the
Contessor began his reign, who had lived
long in France and had beeni seasoned
with the principles OF that kingdom, we
find no prohibition OF usury in England,
and he then first banished usurers out'of
England"
1t is difficult 70 determine the proper
ton OF usLry to the principal allowed in
the Roman Empire for Pagan aud Chris
tian. but law was passed during the
reign ofthe Emperor Constantine the
Great, in which occur the words "sln-
| gulus ceutesimus," which would Indicate
! that the creditor was not allowed to take
more than one per cent Under the
Christian emperors usury was allowed, las
in the Codex Of Theodosius and Justin
ian, there was title dc uslris. The
bishops in those days became so wealthy
in this way that the seventeenth canon
OF the Council OF Nice was formed to
prohibit the practice,sc far rs they were
concerned. The laity continued to take
usury until the eighth century, when
ChaIlamagne. in his capitularies, caused
it to be stopped. So long rs this prohl-
bition r. NAMED in force the clergy were
constituted the Judges OF aim ,st all agree
ments between men and many u bargain,
made in good faith, was set aside on u
plea OF being usurious.
In the year ll26 notwithstanding King
Edwards law, in couacil held in West
minister, it was only made prohibi,ory to
the clergy to take usury; and in another
council, twelve Years hereafter. 1t was
decreed: That such OF the clergy rs
were usurers and hunters after forbid
Gain and for tae public employments OF
the laity, ought to be degraded.
In the year 1899, we have the hrs'
me ntion OF a yearly allowance OF ten pei
cent.iu. MadoX's Formulare .Anglicanum
PAGE II, which afterwards remained /;
custom until the reign OF Henry VIII
: when it was confirmed by law.
, Under the reign OF Henry VIII, in TIT
! year 1888, there was u statute relating L
9 usury, in which the following language
NAV be found: From heneeiorth uaur'
shall not ruu against any person being
; within, i. e.. uuder age. from the time Q
{ the death ct his ancestor. whose heir ht
; was, until his lawful age. So. neverthe
less, that the payment OF the prineips
4 debt, with the usury that was due betor
' the Heath OF his ancestor. saail not re
main" This plainly show. that interes
| on money was the. in lawful practice.
: In the wear IDOL, Thomas Rfmer com
! menceda work entitled "Endera, or
I Collection of Treaties, Conveniions.Le
tiers. Grants, ETC., between the hlny'
} Foreign Powers, States. etc IhiS co.
u lection was transcribed from the archiTe
z in the Tower Of London and the Chap.
e OF the Rolls In the second volume. pag
IS a. we read that in l..4 \ discharge wa
II given to King Edward OF twenty-iou
II thousand nine hundred and seventy iou
: !;vres, (reurnois,) which sum he IA
!, borrowed from the rcmplars when Prime
n OF Wales. and also tor five thousan
y three hundred and thi4ty-,hree livers.si
soils. eight derniers. super castlous. dan
puts. ct interesse. (costs. damages an
= Interest," VIII. ch Edward had agreed
OF pay. In same volume. page 3>c.we ha'
O. it again mentioned. in The year LIS
n when Charles. Prince VI SaleIno. gave
/. bond to King Edward Tor ten ,housal
n marks sterling. formerly lent him To r
or deem him from captivity. 10 re paid at
n stated time. cum dainpuis. expersis
n intere>te.
c. 70 show tha, usucy was awful in &c
s. many in the year l392. Peilerus in h
=, Origines Lips.enses mentions contr,
\. this year between Albert. Dake OF Sa
i'd ony. and the Bishop Of Mor,burg. wher
O. in the Duke agrees % pay The mons
cum pondere i. e.. by weight. with Ia
90 ounces u>uEsc-
lot In the twelfth. thirteenth anu lou
n tesnth centuries money WAS verv scar
u in italy and France. Ia tue year 1907 {
AID Florentiacs ami Lomoar,!s. who were I
d. oniv people that carried Oh any trade
,,a France and England. aad the Jews ,h
OF brokers. .xtortel 20 per cent. for
in use OF money In the year 1911 u; /.
OF council ut Vienna in the pspacy of Po
d. Clement il was decrus-d; that II \
to shall oastinately persist in the error
1t. presumihg y affirm thas a>ury IS not
500 nc shall he punished ~ = aeretic.T
OF ls.;Y Is King Edward III Was carryi
he'd on war against France DC became
VS. such need 0. money that he pawned
or imperial crown aod ASH the crown
tic his Qness-r In this Transaction th