The article on Lending-houses, in Beckmann’s History of Inventions (vol. iii, pp. 9-50), is highly interesting and instructive on the same subject. It traces the gradual calling in question, mitigation, and disappearance, of the ancient antipathy against taking interest for money, an antipathy long sanctioned by the ecclesiastics as well as by the jurists. Lending-houses, or Monts de Piété, were first commenced in Italy about the middle of the fifteenth century, by some Franciscan monks, for the purpose of rescuing poor borrowers from the exorbitant exactions of the Jews: Pope Pius the Second (Æneas Silvius, one of the ablest of the popes, about 1458-1464), was the first who approved of one of them at Perugia, but even the papal sanction was long combated by a large proportion of ecclesiastics. At first, it was to be purely charitable; not only neither giving interest to those who contributed money, nor taking interest from the borrowers,—but not even providing fixed pay to the administrators: interest was tacitly taken, but the popes were a long time before they would formally approve of such a practice. “At Vicenza, in order to avoid the reproach of usury, the artifice was employed of not demanding any interest, but admonishing the borrowers that they should give a remuneration according to their piety and ability,” (p. 31.) The Dominicans, partisans of the old doctrine, called these establishments Montes _Impietatis_. A Franciscan monk Bernardinus, one of the most active promoters of the Monts de Piété, did not venture to defend, but only to excuse as an unavoidable evil, the payment of wages to the clerks and administrators: “Speciosius et religiosius fatebatur Bernardinus fore, si absque ullo penitus obolo et pretio mutuum daretur et commodaretur libere pecunia, sed pium opus et pauperum subsidium exiguo sic duraturum tempore. Non enim (inquit) tantus est ardor hominum, ut gubernatores et officiales, Montium ministerio necessarii, velint laborem hunc omnem gratis subire: quod si remunerandi sint ex sorte principali, vel ipso deposito, seu exili Montium ærario, brevi exhaurietur, et commodum opportunumque istud pauperum refugium ubique peribit.” (p. 33.) The Council of Trent, during the following century, pronounced in favor of the legality and usefulness of these lending-houses, and this has since been understood to be the sentiment of the Catholic church generally.