It was a superstition of very ancient growth, and its origin can be
traced back to the constitution of primitive society. In the youth
of the human race, when the members of each community looked upon
themselves as members of one family, it was naturally very bad form
for those who had more than they needed to refuse a share of their
superfluity to a brother in want. The sentiment, once rooted, continued
from generation to generation, and survived the tribal system in which
it arose. From a social law it became a religious tenet, and inspired
legislators lent to it the sanction of their authority. It is found
incorporated both in the Old Testament and in the Koran. Moses said:
“Thou shalt not lend upon usury to thy brother; usury of money, usury
of victuals, usury of anything that is lent upon usury;”[57] and, many
centuries after, the Psalmist sang: “Lord, who shall abide in thy
tabernacle? Who shall dwell in thy holy hill?... He that putteth not
out his money to usury.”[58] Mohammed, following Moses, emphatically
declares that “They who devour usury shall not arise from the dead,
but as he ariseth whom Satan hath infected with a touch: this shall
happen to them because they say, Truly selling is but as usury: and
yet God hath permitted selling and forbidden usury. He therefore who,
when there cometh unto him an admonition from his Lord, abstaineth from
usury for the future, shall have what is past forgiven him, and his
affair belongeth unto God. But whoever return to usury, they shall be
the companions of Hell fire, they shall continue therein for ever.”[59]
Philosophy in this case failed to rise superior to theology. Plato
regards usury as a source of distress, discontent and unrest, usurers
as creating, by their extortions, a dangerous class of “drones and
paupers” in the State,[60] and in his laws forbids “lending money at
interest.”[61] Although the Greek for interest is “offspring” (τόκος),
Aristotle pronounced that money was “barren,” and therefore to derive
profit from lending it out was to put it to an unnatural use.[62] The
tradition was carried on through succeeding ages, and Plutarch in the
midst of his numerous labours found time to denounce usurers.
Public-domain text, read in full here on John Shaqi.
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