On Usury & Taking Interest

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Order of Contents

Articles  7+
Books  2
Latin  2


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Articles

1500’s

Luther, Martin – Works of Martin Luther  ed. Henry E. Jacobs  (Philadelphia: Holman, 1915-1931)

Intro – Jacobs
A Treatise on Usury  (1520)
On Trading & Usury  (1524)

Luther was against taking of all interest.

Calvin, John – 7. ‘Protestantism & Capitalism: John Calvin, Letter of Usury’  in Economic Tracts  (NY: Society for Political Education, 1882), no. 4, pp. 33-36

Musculus, Wolfgang

Common Places of the Christian Religion  (1560; London, 1563)

‘Usury’  579.a

Preface  579.a
What usury is  579.a
Whether usury be lawful or not  579.b
How men ought to lend according to the doctrine of Christ  581.a
The objection of the Usurers  583.b
Of the usury of them which do deliver their money to interest to merchants or princes  584.b
Of the usury of widows and pupils  586.b

Musculus in this work disallows of all forms of taking interest between men.

‘Concerning Usury’  in eds. Ballor & Grabill, On Righteousness, Oaths & Usury: a Commentary on Psalm 15  tr. Todd Tester  in Sources in Early Modern Economics, Ethics & Law  (Christian’s Library Press, 2013), pp. 79-108  This was originally the 2nd appendix to Musculus’s commentary on Ps. 15.

While Musculus allows for ‘usury’ in the broad senses of the ground giving more than it received in agriculture and in Christ repaying a hundred and thousand fold for services in this life, yet he morally disallows all forms of taking interest between men.

Wilson, Thomas – ‘A Discourse upon Usury’  ed. R.H. Tawney  (G. Bell, 1925)  in 7. ‘Protestantism & Capitalism’, pp. 234-235

Wilson (1524–1581) an esquire, LL.D., was an English diplomat and judge who served as a privy counselor and Secretary of State to Queen Elizabeth I.  He is remembered especially for his works, Logic and The Art of Rhetoric, which have been called “the first complete works on logic and rhetoric in English”.  His work on usury was “Seen and allowed according to the Queen’s Majesty’s injunctions.”

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1600’s

Willet, Andrew – A Sixfold Commentary upon the two first Books of Moses, being Genesis & Exodus  (d. 1621; 1654), on Ex. 22, Questions

41. Why usury is called biting
42. What usury is
43. Of diverse kinds of usuries
44. That usury is simply unlawful
45. Certaine contracts found to be usury, not commonly so taken
46. Whether all increase by the loan of money be unlawful [No]
47. Whether it were lawful for the Jews to take usury of the Gentiles

Willet (1562–1621).  Question 46 gives a survey of opinions on the subject.  What Willet has to say, and his conclusions, are very good.

Leigh, Edward – p. 386  of bk. 4, ch. 24. ‘Of…  Usury’  in A System or Body of Divinity…  (London, A.M., 1654)

Leigh gives a survey of the Reformed, citing references for those who condemned all taking of interest and for those who allowed some ways of doing such.  Leigh lists:

Against: Elton, Bacon, Downame, Knewstub, Aquinas, Fenton.

For: Calvin, Rivet, Zanchi, Perkins, Ames, Hall.

Turretin, Francis – 19. ‘What is forbidden and commanded by the precept concerning not stealing?  Is usury of all kinds contained under it?  We deny.’  in Institutes of Elenctic Theology, tr. George M. Giger, ed. James Dennison Jr.  (1679–1685; P&R, 1994), vol. 2, 11th Topic, p. 123 ff.


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Books

1500’s

Musculus, Wolfgang – On Righteousness, Oaths & Usury  trans. Todd Rester  in Sources in Early Modern Economics, Ethics & Law  Buy  (d. 1563; CLP, 2013)  162 pp.

“This text is a translation of Wolfgang Musculus’ commentary on Psalm 15 and his related appendices on the topics of oaths and usury.” – Bookflap

Wilson, Thomas – A Discourse upon Usury by way of dialogue & orations…  (London: 1572)  240 pp.  ToC

Wilson (1524–1581) an esquire, LL.D., was an English diplomat and judge who served as a privy counselor and Secretary of State to Queen Elizabeth I.  He is remembered especially for his works, Logic and The Art of Rhetoric, which have been called “the first complete works on logic and rhetoric in English”.  His work on usury was “Seen and allowed according to the Queen’s Majesty’s injunctions.”


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Latin

Article

1600’s

Voet, Gisbert – Select Theological Disputations  (Utrecht, 1667), vol. 4

37. ‘On Usury’, pt. 1  555

In sect. 2, on pp. 556-67, Voet lists references for those who said all taking of interest was wrong.  On pp. 557-58 he by number lists his affirmations, which argue the contrary.  He then lists four conditions which make taking interest lawful (p. 558).  In sect. 3, he proves his positions with five arguments (pp. 558-60).  He then lists out four case examples (p. 561).  His sixth argument is the support of many Reformed and Lutheran theologians, with lawyers and canonists, with references (pp. 562-63).

38. pt. 2  557
.       ‘Of Money-Lenders’  575-905

50. ‘A Syllabus of Questions on the Whole Decalogue’, 8th Commandment

On a deposit, loan, usury by a mutual contract, location, hiring, social contract, and a request  814

“11. Whether any usury is licit in the forum of the conscience, the magistrate tolerating, permitting or ordaining it?  It is denied.”

On less manifest or crass species of theft: on devouring gifts, covered-over reward, fraudulent measurement, monopoly, threshing of grain, adulteration and shaving of currency, biting interest and usury, deceitful ceding, usurping the hunt, fowling or fishing, fraud and abuse around invented things or deposits, abuses around testaments and legacies, of confiscation of shipwrecked goods  816

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Book

1600’s

Salmasius, Claudius – A Book on the Way of Usurers  (Leiden, 1639)  891 pp.  no ToC  Indices: Subject, Authors, Greek

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