The Marrow of Divinity, Religious treatise · Chapter 20
CHAP. XX. Questions, and Cases of Conscience about Borrowing, and Lending.
Quest. WHat rule is the Borrower to observe towards the Lender?
Answ. That he do nothing to the hurt, and hinderance of him in his outward estate.
Quest. How may the Borrower hurt the Lender in his outward estate?
Atsw. First, when the borrower doth not returne, or restore the thing borrowed at all to the lender, if he can retain it; contrary to 2 Kings 6.5. Psal. 37.21. Rom. 13.8.
Secondly, if he return or restore not the thing borrowed to the lender in due time at the time appointed, but keeps it longer without the consent of the lender, and it may be forceth the lender to recover that by Law which was lent in love. By the Law of the Jews, if the debtor deferred to pay his debt, he was to be sould, and his wife, and children, &c. as appeares, 2 Kings 4.1. Hence, Prov. 3.28.
Thirdly, when borrowing things that are spent in the use, as Bread, Bear, Wine, Flesh, &c. he restores not as much, and every way as good as that which was lent him, or things not spent in the use, as Horse, Oxe, Garments, &c. when he restores them not as good as they were lent, but either lesse, or worse then was lent, and that wittingly and willingly. Of this sort are such Tradsmen as break, that they may escape by paying half, or a quarter of their debt. Hence that Law, Exod. 22.14. and 2 King. 4.7.
Quest. VponUpon what ground is the borrower to restore the thing borrowed as good as it came to his hands? Or if it be hurt or spoiled through his negligence, or want of care, or good usage, he is bound to make satisfaction for the damage?
Answ. Upon this ground of Equity: Because the borrower onelyonly receives benefit by the thing lent, so long as he hath the use of it, therefore he is bound to make it good, if any hurt come to it through his want of care and good usage.
Quest. What if the borrower of money, or other things by the immediate hand of God, and not by any negligence, or default of his own, is disenabled to restore it, what must he do in such a case?
Answ. He is then to humble himself to the lender requesting his favour, and to purpose restitution, and to promise payment whensoever God shall enable him, and if God doth make him able, to performe it, Prov. 6.3. Matth. 18.26.
Quest. What if the lender be dead, and none left to require the thing lent, what must the borrower then do?
Answ. He is to restote it to the childe of the lender if he have any; or if none, then to his next of kinne, or for want of such, or if none can be found, then he must restore it to the Church, or to the poor, Numb. 5.7, 8. Dan. 4.24. Luke 19.8.
Quest. How else may the borrower sin in borrowing?
Answ. When he borrows any thing of his neighbour, especially money for ill ends and purposes: as to maintain his pride, riot, and excesse: Or when he borrows, that by the thing borrowed he may hurt another in his person, or outward estate: Or when one having a sufficient stock of his own to manage his trade, and live comfortably, yet he borrows to enable him to engrosse and monopolize all, or most of a commodity into his own hands to the great hurt and prejudice of others: This is an evil eye, Prov. 28.22. So, Isa. 5.8. Hab. 2.6, 9, 10.
Quest. How may the lender sin by lending?
Answ. First, when he lends to such persons as he knows borrow for ill ends, and purposes, as to maintain pride, luxury, &c. or to wrong, hurt, vex, & trouble others: whereas lending being an act of charity, properly should be done to the poore, Psal. 112.5. Exod. 22.15.
Secondly, when he lends upon usury to his poor brother: forbidden, Exod. 22.25.
Thirdly, when the lender requires the thing lent too greedily, as either before the time appointed for the returning of it, having no extraordinary need, or at an unseasonable time, as on a Sabbath day, &c. Deut. 24.10, 11.
Fourthly, when he requires the thing lent with rigour, and extream hard usage of the borrower, disenabled by God for the present to repay him, and that by casting him into prison, &c. Exod. 22.26, 27. Isa. 58.6. Mat. 18.29, 30.
Quest. What if the borrower dissembled when he borrowed, pretending that he was able to pay when he knew he was not: or being able refuses to pay, as many bankrupts do: may not rigour be used to such?
Answ. Yea, the lender may lawfully cast such an one into prison, and so make him bear the burden of his pride, dissimulation, and injustice, Prov. 20.16. and 22.27. No pity is to be shewed to rash and foolish Sureties: nor to dissembling borrowers. See Elton on the Commandments.
Quest. whether is it lawful to put money out to usury?
Answ. Before this can be answered, we must consider,
1. Who it is that borrows, whether a poor brother that is constrained to it by need: or a rich tradesman that takes it up to enlarge his trade: or a rich man that lays it out upon superfluous occasions. Now you may not receive profit from him that borrows out of necessity. To the poorest of all you must give and not lend: To the next rank of poor you must lend freely; but if a man will borrow that money which you could improve your self for enriching of him, or that will wantonly lay it out for his meere pleasure, the case is very different: For God hath not commanded me to love any man more then my self: neither is there any reason that I should deny my own advantage to maintaine another mans excesse.
2. Upon what termes do you lend? whether upon an absolute contract for a set profit, whatever becomes of the principal, or upon a friendly trust to a voluntary satisfaction according to the good improvement of the summe lent. The former is not safe: for where there hath been an honest endeavour to make an advantage, which yet hath been disappointed by an unavoidable casualty, or force, there to require interest, cannot be without oppression. But the latter is undoubtedly lawful, and such as are conscionable will think themselves as strongly bound to it by the Law of gratitude, as by any bond whatsoever.
3. If you make an absolute contract? Is it upon a certainty, or upon an adventure? For if you are willing to hazard the principal, there can be no reason why you may not take part of the advantage.
4. Where the trade is ordinarily certain, there are yet further considerations to be had: For the clearing whereof these grounds may be laid down.
1. That the value of monies, or other commodities is arbitrable according to the Sovereign authority, and use of several Kingdoms, and Countreys.
2. That whatsoever commodity may be sold, is capable of profit in the loane of it: therefore a horse, or an oxe, &c. seeing it may be sold, it may be let out for profit.
3. That money it self is not only the price of all commodities in all civil Nations, but in some cases is a traffickable commodity, the price whereof rises and falls in several countreys upon divers occasions, and yeelds either profit or losse in the exchange of it.
There can be no doubt therefore but that mony thus considered, being as it were turned into Merchandise, may be bought, and sould, and thereby improved to a just profit.
Quest. But whether may money meerly considered as the price of all other commodities be let forth to profit?
Answ. All usury, which is an absolute contract for meere loane of money, is unlawful, both by Law natural, and positive: both divine and humane; and that for these reasons.
1. Because nature teaches us that mony is not capable of supersaetation, or encrease.
2. That no man ought to set a price on that which is not his own.
3. That the use of the stock once received, is not the lenders but the borrowers: for the power of disposing of it, is for the time transferred by contract into the borrowers hands: If the lender then by vertue of such a contract takes interest, he doth but in a legal way rob the borrower.
That the Scripture forbids this practice, appears, Exod. 22.25. Lev. 25.36, 37. Deut. 23.19, 20. Neh, 5.7. Psal. 15.5. Prov. 28.8. Ezek. 18.8.
Many Heathen Nations have also condemned such contracts.
It hath been condemned by the Council of Vienna, and other Ecclesiastical Laws. Yet, though it be unlawful to covenant for a certain profit for the meer loane of money, there are other circumstances about it, which allows the lender lawful liberty to take use for his money, especially in these two cases.
1. If he sustains losse, and misses of gain by want of his money lent: for why should I hurt my self to pleasure another, and enrich another by mine own losse?
2. If I shall incur a real losse, or forfeiture by the delayed payment of the sum lent, I may justly look for satisfaction from the borrower: yea, if there be an apparent danger of losse to me at the time of the contract, nothing hinders but that I may secure such a sum as may be sufficient for my indemnity. And if I see an opportunity of an apparent profit that I could make by disbursing such a sum of money, and another that hath a more gainful bargain in chase, shall desire to borrow my money for his greater advantage, there is no reason why I should have greater respect to his profit then mine own, and therefore upon contract I may secure to my self such a moderate sum, as may be somewhat answerable to the gaine, which I willingly forgo for his greater profit.
In brief, to guid us in borrowing, and lending, our only rule is charity: For in all humane, and civil acts of commerce, its a sure rule: that whatsoever is not a violation of charitie is lawful. And what is not agreeable to charity is sinful. And as charity must be our rule, so our selves must be the rule of our charity. Look what you could wish to be done to you by others, do you the same to them, and so you cannot be guilty of the breach of charity; that will tell you that if you can finde out a way whether by loane, or sale to advance your stock, that is free from oppression, and beneficial to others as well as to your selves, you need not fear to walk in it with all honest security.
B. Halls Cas. of Conscience.