A History of Inventions, Discoveries, and Origins, Volume 2 (of 2)Beckmann, Johann
History
A History of Inventions, Discoveries, and Origins, Volume 2 (of 2)
Beckmann, Johann
Inventions -- History
In no place was this inconvenience more felt than at the Romish court,
even at a time when it boasted of divine infallibility; and nowhere
was more care employed to remove it. A plan, therefore, was at length
devised, by which the evil, as was supposed, would be banished. A
capital was collected from which money was to be lent to the poor for
a certain period on pledges without interest. This idea was indeed not
new; for such establishments had long before been formed and supported
by humane princes. The emperor Augustus, we are told, converted into
a fund the surplus of the money which arose to the State from the
confiscated property of criminals, and lent sums from it, without
interest, to those who could pledge effects equal to double the
amount[3]. Tiberius also advanced a large capital, from which those
were supplied with money for three years, who could give security on
lands equivalent to twice the value[4]. Alexander Severus reduced the
interest of money by lending it at a low rate, and advancing sums to
the poor without interest to purchase lands, and agreeing to receive
payment from the produce of them[5].
These examples of the ancients were followed in modern Italy. In order
to collect money, the popes conferred upon those who would contribute
towards that object a great many fictitious advantages, which at
any rate cost them nothing. By bulls and holy water they dispensed
indulgences and eternal salvation; they permitted burthensome vows
to be converted into donations to lending-houses; and authorised the
rich who advanced them considerable sums to legitimate such of their
children as were not born in wedlock. As an establishment of this kind
required a great many servants, they endeavoured to procure these also
on the same conditions; and they offered, besides the above-mentioned
benefits, a great many others not worth notice, to those who would
engage to discharge gratis the business of their new undertaking; but
in cases of necessity they were to receive a moderate salary from the
funds. This money was lent without interest for a certain time to the
poor only, provided they could deposit proper pledges of sufficient
value.
Public-domain text, read in full here on John Shaqi.
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