And, lastly, you must remember that it took place in an England the population of which was hardly more than a sixth--some people would say it was hardly more than a tenth--of to-day’s, and that population actually a great deal poorer on the average than the present population of England. It is true that there was not then the great herd of starving or half-starving people which we have to-day in England, and that labouring people were then much better off than they are now; but, on the other hand, there was nothing like the same number of very rich people, and therefore the average family income was much smaller. Put all that together, and it is clear what a tremendous business the confiscation of this one Abbey meant. It was somewhat as though the Government to-day were to confiscate one of the smaller railway companies, or to take away the rentals now paid by a northern manufacturing town to the great landlords owning the soil, and put the money into its own pocket. From this example of the confiscation of the Abbey of Westminster you can argue to all the other expenditure of the time--expenditure on armies and navies, and so on--and in this way you can see _how, why and in what degree the social value of money differs between one period and another_. It is most important to get this point in Economics clear in your mind if you are reading history, because it helps to explain all manner of things which otherwise puzzle one in the past. USURY Usury, the last subject but one on which I am going to touch in this book, is one which modern people have almost entirely forgotten, and which you will not find mentioned in any book on Economics that I know. Yet its vital importance was recognised throughout all history until quite lately, and it is already forcing itself upon modern people’s notice whether they like it or no. So it is as well to understand it betimes, for it is going to be discussed very widely in the near future. All codes of law and all writers on morals from the beginning of anything we know about human society have denounced as wrong the practice of _Usury_. They have recognised that this practice does grave harm to the State and to society as a whole, and must, therefore, as far as possible, be forbidden. Now what is Usury, and why does it thus do harm? Modern people have so far forgotten this exceedingly important matter that they have come to use the word “usury” loosely for “the taking of high interest upon a loan.” That is very muddled thinking indeed, as you will see in a moment. The character of Usury _has nothing to do with the taking of high or low interest_. It is concerned with something quite different. _Usury is the taking of any interest whatever upon an_ UNPRODUCTIVE _loan_.