Theological and Scholastical Positions Concerning Usury, Chapter 1 – Chapter 3
CHAP. 1. Of the kindes and Differences of Vſurie.
THis word VSVRIE, is taken in divers ſenſes & ſignifications: Properly, and Improperly.
2 Properly, it ſignifieth the vſe of a thing, as is manifeſt by the Etymologie of the worde; for Vſurie is derived from vſing; Vſura, quaſi vſus rei.
3 The name of VSVRIE is not evill, but the abuſing of it, in applying it to evill trades and actions.
4 Improperly (Metonymicè, Cauſa pro Effecto) when we take it for the increaſe that ariſeth of it.
5 In this ſenſe Vſurie is two fold Profitable and Vnprofitable.
6 Profitable Vſurie, is a gaine or increaſe that ariſeth from the labour and exerciſe of our lawful callings.
7 Profitable vſurie is two fold, Naturall and ſpirituall, or Terrene and Celeſtiall.
8 Naturallor Terrene Vſurie, is that gaine which commeth and encreaſeth by tillage of the earth.
9 This vſurie is lawfull, becauſe it is the ordinance of God himſelfe; the ancienteſt trade, firſt practiſed in the beginning of the world. Geneſ. 3.23. Geneſ. 4.2.
Spirituallor Celeſtiall vſury is that gaine and glory wherewith God rewardeth the graces and good workes of his owne children.
11 And this is either, Privatiue, or Poſitiue,
12 Privative Spirituall vſury is when we forſake or reſuſe temporary commodities to gaine eternall.
13 Of this Chriſt ſpeaketh when hee ſaith Math 19 29. VVhoſoever ſhal forſake houſes, or brethren, or ſiſters, or Father, or Mother, or wife, or children, or lands for my names ſake, hee ſhall receiue an hu…dred fold more, and ſhall inherite everlaſting life.
14 Poſitiue ſpirituall vſurie is when we do any deed or acte for Gods glory, and the good of men, which ſhall bee crowned in heaven.
15 This poſitiue ſpiritual vſury is two fold, Giuing of Almes, and Imploying of Geds giftes.
16 Giuing of Almes is munificence and liberality towardes the poore and needie.
17 This is cōmended in the Scriptures. Prov. 19.17. He lendeth to vſurie to the Lord that is mercifull to the poore. He is as it were the Lords vſurer; and ſhall be well rewarded.
18 And commaunded by God himſelfe. Deuter. 15.10. Thou ſhalt giuegive him, and let it not greeue thine heart to giuegive vntounto him. Math. 5.42. GiueGive to him that aſketh.
19 Imploring of Gods gifts is the faithfull diſpoſing of thoſe graces that wee hauehave receaued from God, to the advancing of his glorie and the benefite of Men.
Of this Chriſt ſpeaketh, Matth. 25.27. Thou oughteſt to hauehave put forth my money to the exchaungers, and then at my comming ſhoulde I hauehave received my ovvne foreign vvith vſurie. See Luk. 19.23.
Thus much of Profitable Vſurie. If followeth to ſpeake of that which is Vnprofitable.
21 Vnprofitable vſurie, is a Gaine or increaſe vnlawfully exacted or hoped, for the verie dutie of lending.
22 It is tearmed vnprofitable, becauſe in the ende it turneth into a curſe, and to bitternes to the Receiver or Vſurer.
23 Vnprofitable vſury is either Eccleſiaſticall or Politicall and Civill.
24 Eccleſiaſticall vſury is an increaſe vnlawfully exacted for nothing, vnderunder colour of preſcription or duty.
25 Civill or Politicall vſurie is when gaine and increaſe is raiſed from the vſe of worldly goods, which are thinges belonging to the civill and politicke eſtats of Men.
26 Political vſurie is two-fold, Actuall and Mentall.
27 Actual vſury is committed, when one doth any act for gaine or increaſe.
And this is two-fold, Liberal, and by Compact or Covenant.
29 Liberall vſury is when he that borroweth deſireth to make ſome recompence.
30 That which is receiued aboue the principall is vſurie; yet this is not to bee condemned in three reſpects.
31 First Becauſe it is the duty of thankfulnes to make amends for a bene fit receiued.
32 Secondly becauſe it proceedeth frō the givers freewill Now what is more free then gift?
33 Thirdly Volenti non fit iniuria: If hee will giuegive it vnasked and vncompeled, he hath no iniury offered in the taking.
34 Vſury by compact or covenant is when the lender covenanteth with the Borrower to receiue againe not onelyonly the principall, but alſo increaſe and advantage.
35 This vſury is two fold Manifeſt and Covert.
36 Manifeſt vſurie is when one doth covenant to take tenne (more or leſſe) in the hundred for a yeare &c.
37 Manifeſt vſurie is two fold Leſſe-Evill and More-Evill
38 Leſſe-Evil. is either of the Rich, or of Orphans and widdowes.
39 Of the Rich who giuegive money vponupon vſury vntounto the Rich, to Marchants and Princes; though not vntounto the Poore.
40 Of Orphans and widdowes, when their Overſeers, or Guardians doe put out money for their vſe.
41. More evill and murdering vſurie, is when the poore is bound to the rich to pay increaſe for the lone onelyonly.
42 Covert or cloſe vſurie, is when one lendeth money, and ſhorowdeth it vnderunder ſome other bargaine.
43 As if I lend a man a 100li. for a yeare, vppon condition that hee buy a horſe of mee (which peradventure is worth ſome 30.ſ.) and paye mee for it 10.li.
So of Actual vſurie. Now of Mentall.
44 Mentall vſurie, is when one lendeth and doth not compact, but expecteth and hopeth for increaſe or gaine.
45 Sole hope maketh an Vſurer. If thou doeſt but expect to receiue more then thy owne, thou art an vſurer, ſaith Auguſtine. Aug. in Pſalm. 36. Ser. 33.
46 And CHRIST himſelfe ſaith Luc. 6.35. Lend, looking for nothing againe.
So much for the kindes and differences of vſurie. Now we will ſpeake onelie of Civill Actuall vſurie, which is commonly vſed amongſt vsus.
CHAP. 2. Of the Definition of Vſurie
1 VSVRIE is a gaine which by compoſition, compact, and agreement going before, is raken for the verie duetie of lending, not adventuring the principall; and that not onelie in money but in meate, ware, or any thing that is valuable by money.
2 The Efficient cauſe of Vſurie is two fold, Principal and leſſe principall.
3 The Principall and chiefeſt cauſe of vſurie is the DIVELL, who ſtirre…h vsus vp to oppreſſion.
4 The leſſe principall, or ſubordinate cauſes are covetouſnes, the louelove of our ſelues, and the hatred of our neigbour.
5 The Material Cauſe, is mony, come, cile, or ſuch like.
6 The Formall Cauſe is the compoſition, compact, or agreement.
7 The Finall Cauſe is the enriching of our ſelues, by impoveriſhing of others.
8 Vſurie is a Gaine, becauſe it is an increaſe aboue the principall, for the vſe and lending only.
9 Lending is a contract which tranſferreth the dominion & right of a thing to an other, with promiſe to hauehave the ſame thing deliuered againe, without price or conſiceration.
10 Lending is two-folde Mutuation and Accomodation.
11 Mutuation is when a man lends any thing & lookes but to hauehave his own againe in the ſame kinde.
12 As when I lend mony, I looke not to hauehave the ſame mony againe; but other, of that kinde, in the ſame meaſure and quantitie.
13 Accomodation is when a man lends ſome thing, and lookes to hauehave the ſame againe in his owne individuall propertie.
14 As if I lend a horſe, I looke to hauehave the ſame horſe againe, and not another.
15 Vſurie is properly & truely in that lending which is termed Mutuation & in no other contract.
16 Vſurie is by Compact, compoſition, and agreement going before.
17 A Compact or Compoſition is twofold, Silent and Expreſſe.
18 A Silent Compact is when conſent and Agreement is intended: As,
19 When a man comes to an vſu ei, to borrow money, hee tels him, that hee will allow him after 10. in the 100 although the vſurer ſaith nothing; this is a kind of compact. Or,
20 If one comes to borrowe money, and the vſurer ſaith he wil take after 10. in the 100 albeit the borrower ſaith nothing, but takes the money; it is a kinde of compact.
21 An expreſse compact is either Bare or Shrowded.
22 Bare compact is when one comes to borrow mony, the Vſurer asketh him if he will giuegive vſe for it, the Borrower ſaith, he will.
23 Shrowded cōpact is either in VVords or in writing.
24 In words when the Borrower paſſeth his promiſe for payment of vſe.
25 In writing when the Vſurer takes ſpecialty for the vſe of his money.
CHAP. 3. The difference betweene Vſurie & Intereſt.
1 THe Vſurers to gloſe with the worlde are wont to confound the names of intereſt and vſurie.
2 But the difference between them is manifeſt by the deſinition of both of them
3 Vſurie is defined before. Cap. 2. Poſit. 1.
4 Intereſt is a debte vvhichwhich one oweth to another by the lawe of Nature and Aequitie.
5 INTEREST is due two manner of waies, By reaſon of Loſſe ſuffered; and By reaſon of Gaine hindered.
6 By reaſon of loſſe ſuffered: As when I borrowe money for another, and enter by bond for it, and take the like of him that receiveth the money, I may lawfully recover that I looſe by that money.
7 By reaſon of Gaine hindered: As if I being a Tradeſ-man lend my mony freely to my Neighbour till ſuch a day, hauing then occaſion to vſe it at ſome Faire, to lay it out in ware: if hee breake touch, I may lawfully take ſo much as I ſuſtained loſſe, for want of mony to lay out.
8 If a man ſuſtaine no loſſe or hurt, or can forbeare the mony ſo differred, if then hee take any thing for the forbearance, it is Vſurie and not Intereſt.
9 For Intereſt is ſo called, becauſe one may ſay inter fuit mea habuiſse: It behoued me, it ſtood me vponupon to hauehave it, and now by your default ſuſtaine loſſe.
10 The difference betweene them is great, and eaſie to be diſcerned.
11 Vſurie is an ouer plus or gaine taken more then was lent.
12 Intereſt is neither gaine nor ouerplus aboue the principall, but a recompence demaunded and due for the loſſe that is ſuffered, or the gaine that is hindered through lending.
13 Vſurie groweth due by lending, from the day of borrowing vntill the appointed time of payment.
14 Interest is neuer due but from the appointed day of payment forward, for ſo long as I forbeare my goods after the daie in which I did covenant to receaue them againe.
15 In vſurie I ſeeke to be a gainer.
16 In Intereſt ſeeke only to be no looſer; gaine or profit I ſeeke none.
17 Vſurie is againſt all equity, conſcience and reaſon.
18 Intereſt ſtandeth with equity, conſcience and good reaſon.
19 Obiect. But here it wil be obiected. Why then doth Salomon condēne Intereſt as well as Vſurie, for ſo hee ſaith, Prov. 28.8. He that increaſeth his riches by vſury and intereſt gathereth them for him that wil be mercifull vntounto the poore.
20 Anſ. Here is foreign The Hebrew brewe hath it foreign Beneſhech vetarbith: by vſurie and increaſe or ſuperabundance. So do all the Interpreters that I ſaw tranſlate it, ſauing our Engliſh.
21 The Septuagint reade foreign. Vſurâ & ſ…perabundantiâ.
22 Tremelius, Leo Iuda, Lavaterus, Vatablus, Pagninus and Mercerus hauehave, Vſurâ & foenore.
23 Arias Montanus. Vſurâ & augmēto.