The Washington times., 1920-06-13

particularly hot, unpleasant spot
In hell where Dante located the
money lenders Of his day. No
wonder they charged l20 per cent
a year.
While religion was denouncing
any kind of money lending at in
terest, its enlightened leaders
realized that without interest
money would not be lent, and that
lending was necessary.
While the lending was de
nounced, ingenious excuses were
found for it. A man could take
interest "as q gift, not as a
right" White says: "Some Canon
lists held that Jews might be al
lowed to take interest, since they
were to be damned in any case,
and their monopoly of money
lending might prevent Christians
from losing their souls by going
into the business"
Discrimination between Jews
and Christians existed in various
directions in primitive times. The
Jew could lend to a Gentle at
interest, without offending his re-
ligion, but not to his Jewish
brethren. The Jew could deal in
slaves that were not Jewish. The
Christian might not lend to his
Christian brother at interest, but
he could torture a rich Jew for
hours to get his money away from
him, and there was no objection to
his making slaves of Jews. We
may be drifting back into usury,
but we certainly have improved In
some other directions.
A system that prosecuted Jews
in nearly all other lines Of effort
and that shut its eyes when they
went into the business Of money
lending was a great misfortune
for the Jewish people.
White says: "One evil is felt in
all parts of the world to this hour.
The Jews, so acute in intellect and
strong in will. were virtually
drawn or driven out Of all in
dustries or professions by the
theory that their race, being ac-
cursed, was only fitted for the alb
horred profession of money lend
ing"
Christianity that prosecuted
Jews for money lending drove
them to it.
Because lending Of money at in
terest was forbidden, the thing
was done at shameful rates of in
terest. In England 40 per cent
a year was not unusual, in Italy
and Spain 10 per cent a month, 120
per cent year. Commerce,
manufacturers and general enter
prise were dwarfed while pauper-
ism flourished."
The first clear word OF common
sense comes from John Gerson, a
man famous for sacred learning.
and of the deepest piety. He de-
clared, better is it to lend money
at reasonable interest and thus to
give aid to the poor, than to see
them reduced by poverty to steal.
waste their goods and sell at a
low price their personal and real
property" With hatred of usury
and money lenders there came
picturesque superstitions. The
people of Placenza, frightened by
a long, damaging storm of rain
that ruined crops, decided that
something must be done about it.
They remembered a famous money
lender, dragged his body out of the
grave and threw it into the river
Po. 1t is to be hoped the rain
stopped. Providence being thus
appeased.
Calvin, deeply religious, but in
fluenced by the business common
sense of Switzerland, decided that
without offending religion-he was
particular about that money
might be lent at fair rates Of in
terest. All the lodging and pre-
tending he called "a childish
game with God" Protestant
countries were first to legalize
. money lending at reasonable in
terest, this promoted prosperity
in Protestant regions.
Wise, energetic Holland was
among the first to see that money
lending was necessary, and that
there would be no lending with
out interest. Hence much of the
Dutch prosperity.
For a long time clergymen, Pro-
testant as we'll as Catholic, fought
bitterly against lending money at
interest under any conditions. The
English Puritans were especially
bitter. You find this interesting
paragraph in a sermon preached
at st. Clement Danes in London
by Henry Smith: "There is
difference indeed between the bite
of a dogge and the bite of flea,
and yet, though the flea doth less
harm, yet the flea doth bite after
hir kinde, yea and draweth blood,
too. But what a world this is,