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Updated: June 17, 2025
Although, unfortunately, for the greater part usurious, a fair proportion are for goods delivered, but to evade the laws even loan receipts are made out as for goods to be delivered, a form in which discrimination is extremely difficult.
In spite of his best efforts to throw aside such thoughts, Howel could see nothing all that night but the gold, the father who had won it, and the poor wretches who had been ruined in paying usurious interest for it. The dinners at Glanyravon were always unexceptionable. Mr Gwynne was a bit of an epicure, and kept a capital cook, and his daughter liked to see everything done in good style.
To maintain these retainers, and to support the extravagance and magnificence which their pride induced them to affect, the nobility borrowed sums of money from the Jews at the most usurious interest, which gnawed into their estates like consuming cankers, scarce to be cured unless when circumstances gave them an opportunity of getting free, by exercising upon their creditors some act of unprincipled violence.
At first they were not allowed to intermarry with the patricians. Their oppression provoked resistance. The struggle which ensued is one of the most memorable in Roman history. The haughty oligarchy were obliged gradually to concede rights. These rights the plebs retained. First they gained a law which prevented patricians from taking usurious interest.
A high price on an article was often misleading until the manufacturer's side of the question was explained and understood, and so, too, a low price often produced various criticism from those who could not differentiate between just and usurious profit. But in the main the efforts of the merchant were pretty fairly understood and a perfect flood of congratulations followed the enlightenment.
I have known people untrammelled in the ways of business, but with so intense an apprehension of their own interest, that they would grasp at the slightest possibility of gain as a certainty, and were led into as many mistakes by an overgriping, usurious disposition as they could have been by the most thoughtless extravagance. We hear a great outcry about the want of judgment in men of genius.
The managers may be stupid dolts, only so they do not interfere with the usurious principle in its eternal pull on the resources of mankind. The interest bearing debt of the United States, at this date, is about one thousand millions. This in one hundred years at six per cent. would amount to $340,000,000,000; five times the whole present wealth of the nation.
"I thought my sister had long since learned that borrowing trouble necessitated the payment of usurious interest? Just now our little girl carries no gorgon's head; let her alone. The most imperatively demanded change in our system of female training, is the addition of a few years in which to work.
The prohibition indeed seems to be regarded as universal; and it may very well be contended that for the cases the Fathers consider it was in fact universal for the loans with which they are concerned, being necessitous, should be, in accordance with Christian charity, gratuitous even if speculatively usurious loans in general were not unjust.
The presence of a new tone in the Government was immediately felt in mercantile circles, and the negotiation of necessary loans became a reasonable business transaction instead of an affair of usurious bargaining, both in England and on the continent.
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