Usury : $b a scriptural, ethical and economic view — John Shaqi
Usury : $b a scriptural, ethical and economic viewElliott, Calvin
Religion
Usury : $b a scriptural, ethical and economic view
Elliott, Calvin
Usury
In 1800 the "Faithful Steward" was wrecked in Delaware bay near the
shore. It had on board a large number of passengers, emigrants, who
nearly all perished. Few lives were saved and all the property was
lost. One young man, of the kin of the writer, swam ashore through the
breakers. Before he left the vessel an old man offered him a stocking
full of gold if he cared to try and save it. Though young and vigorous
he would not undertake to try to save it for it. This was an extreme
case of risk and danger.
In another extreme case the service may be very small, reduced to the
minimum, for instance, caring for the gold of another by locking it up
in a fire and burglar-proof safe. For this simple service a
comparatively small charge is made. But caring for the property of
another is always some service that earns a reward great or small.
The nature of the service is not changed and the principle still holds
when the deposit is made with a person who gives ample pledges for its
full return; the principle still holds when the deposit is made in a
farm and secured there by mortgage, making it safer than in the iron
vault.
The true ethical principle, equity between man and man, requires that
the holder of the property of another shall be compensated by the
owner of the property for his services in caring for and preserving
it. The amount of compensation depends on the difficult or favorable
conditions attending its care. These conditions greatly vary, perhaps
in no two cases are exactly alike, and so there can be no fixed price
or rate at which one will receive and care for the property of
another. The extreme limit of liberality permitted is that he may care
for the property of another for nothing. He is not permitted to pay a
price for the privilege. The revealed divine law, true ethics and
equity and duty of self preservation forbid him. Perfect preservation
of any amount, large or small, for any time, long or short, whatever
the incidental advantages to the borrower, is the highest compensation
a borrower is permitted to give for any loan. The demand for more than
this by the owner is to be resisted as unjust and oppressive.
An express company receives a package of money for which it receipts
and becomes responsible and agrees to deliver to the owner at some
distant point. For this service it receives compensation in accordance
with the amount of service. If the conditions are dangerous and the
distance great the charge is large. If the conditions are very
favorable and safe the charges are small.
If the amount of service is reduced to the minimum, in rare cases, no
charge may be made. But that a price should be paid for the privilege
of caring for and conveying it, is inconsistent with the management
of an honest business. The purpose would be either to rob the owner of
his wealth or to rob the employes of their services.
Public-domain text, read in full here on John Shaqi.
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