profit or gain from lending money or goods. Moses enacted a law
to the effect that interest should not be taken from a poor person,
neither for borrowed money, nor for articles of consumption, for
instance, grain, which was borrowed with the expectation of being
returned, Exod. xxii, 25; Lev. xxv, 35–37. A difficulty arose in
determining who was to be considered a poor person in a case of this
kind; and the law was accordingly altered in Deut. xxiii, 20, 21, and
extended in its operation to all the Hebrews, whether they had more or
less property; so that interest could be lawfully taken only of
foreigners. As the system of the Jews went to secure every man’s
paternal inheritance to his own family, they could not exact it from
their brethren, but only from strangers. As the law of nature does not
forbid the receipt of moderate interest in the shape of rent, for the
use of lands or houses, neither does it prohibit it for the loan of
money or goods. When one man trades with the capital of another, and
obtains a profit from it, he is bound in justice to return a part of it
to his benefactor, who, in the hands of God, has been a second cause of
“giving him power to get wealth.” But should Divine Providence not
favour the endeavours of some who have borrowed money, the duty of the
lenders is to deal gently with them, and to be content with sharing in
their losses, as they have been sharers in their gains. The Hebrews were
therefore exhorted to lend money, &c, as a deed of mercy and brotherly
kindness, Deut. xv, 7–11; xxiv, 13. And hence it happens that we find
encomiums every where bestowed upon those who were willing to lend
without insisting upon interest for the use of the thing lent, Psalm xv,
15; xxxvii, 21, 26; cxii, 5; Prov. xix, 17; Ezek. xviii, 8. This
regulation in regard to taking interest was very well suited to the
condition of a state that had been recently founded, and which had but
very little mercantile dealings; and its principle, though not capable
of being generally introduced into communities that are much engaged in
commerce, may still be exercised toward those who stand toward us in the
relation of brethren.
to the effect that interest should not be taken from a poor person,
neither for borrowed money, nor for articles of consumption, for
instance, grain, which was borrowed with the expectation of being
returned, Exod. xxii, 25; Lev. xxv, 35–37. A difficulty arose in
determining who was to be considered a poor person in a case of this
kind; and the law was accordingly altered in Deut. xxiii, 20, 21, and
extended in its operation to all the Hebrews, whether they had more or
less property; so that interest could be lawfully taken only of
foreigners. As the system of the Jews went to secure every man’s
paternal inheritance to his own family, they could not exact it from
their brethren, but only from strangers. As the law of nature does not
forbid the receipt of moderate interest in the shape of rent, for the
use of lands or houses, neither does it prohibit it for the loan of
money or goods. When one man trades with the capital of another, and
obtains a profit from it, he is bound in justice to return a part of it
to his benefactor, who, in the hands of God, has been a second cause of
“giving him power to get wealth.” But should Divine Providence not
favour the endeavours of some who have borrowed money, the duty of the
lenders is to deal gently with them, and to be content with sharing in
their losses, as they have been sharers in their gains. The Hebrews were
therefore exhorted to lend money, &c, as a deed of mercy and brotherly
kindness, Deut. xv, 7–11; xxiv, 13. And hence it happens that we find
encomiums every where bestowed upon those who were willing to lend
without insisting upon interest for the use of the thing lent, Psalm xv,
15; xxxvii, 21, 26; cxii, 5; Prov. xix, 17; Ezek. xviii, 8. This
regulation in regard to taking interest was very well suited to the
condition of a state that had been recently founded, and which had but
very little mercantile dealings; and its principle, though not capable
of being generally introduced into communities that are much engaged in
commerce, may still be exercised toward those who stand toward us in the
relation of brethren.