Usury Stated Overthrown, Treatise · Part 2 · Section 1
NUMBER. I.
ABout the ſeveral Names given to Vſury he will not concern himſelf, he ſaith: Nor will I concern my ſelf about many frivolous things, and Tautologies, not worth the anſwering thereof. I will ſubjoyn only this; That whereas he ſaith, that all the Names given to Uſury properly belong to that rigid Exaction and Oppreſſion in the World under the Name of Uſury: My Anſwer is, that I have anſwered that already formerly, denying it; and ſaying, that though chiefly they do, yet not only; and that I alſo my ſelf am as much, and chiefly againſt that Oppreſſion, &c. As when Men muſt pay ſo much to the Uſurer's Agents and Servants, to procure ſo much Money upon Uſury, and ſo much to the Uſurer himſelf, viz. twenty or forty Shillings more. And when they muſt pay Uſe upon Uſury, which the very Civil Law prohibits in theſe words, (a)Lib. 6. placuit, 29. ff. de Uſuris.Uſury of Uſuries, &c.
But to the Name Intereſt I will ſay ſomething, becauſe he adds theſe words to his former; But Intereſt he will not have it called. And why not? Surely that is an Overplus above the Principal, which the ancient Doctors of the Church call Uſury: But Intereſt with him is lawful, becauſe properly it is Damage, &c. Whereunto I anſwer,
1. That not I only will not have Uſury called (a)Intereſt, becauſe we may ſay, Interfuit mihi haec habuiſſe.Intereſt, but others alſo, far greater and learneder than he and I, will not have it called ſo; I ſay, others; even both Civilians and Theologians, becauſe it is another thing, and not the ſame, as I will make it appear by and by; quoting for it,
1. Civilians; and by Name, famous Doctor (b)Doctor Vulteius, juriſpr. l. c. 34. ſo called.Vulteius; who defineth Intereſt thus, That it is an Incommodity which happeneth ex mora, by a delay. And then ſhewing what Mora, or ſuch a Delay is, a Culpa, or fault of him which doth not anſwer the Convention, or Agreement made between the Creditor and Debtor, for an Opportunity, (c)Cinacius de Paratittis.Place and (d)L. Si ſoluturus 39. de ſolutione.Time where and when Payment is to be made.
It is alſo called (e)L. Stipulatio iſta, 38. S. alteri D. De Uſura. D. Vult. l. 1. Juriſpr. c. 34.Poena, or a Puniſhment, in the Civil Law, which the Creditor ſtipulateth for. Whence is the Appellation of Penal Stipulation.
As for Uſury, that is defined by (f)Hottomannus his Definition of Uſury.Hottomannus, Gain, which for Loan is required at certain times.
And, as Civilians do thus diſtinguiſh between Intereſt and Fenory, ſo do Divines alſo apparently put a difference between Intereſt and Uſury, and will not have Uſury called Intereſt; ſaying, (g)Melanchton, l. de Difinit.That whereas Men pretend to the honeſt Name of Intereſt to their gainful Uſury, it is pernicious Sophiſtry, ſaith (h)Idem ibid.Melanchton; who alſo ſaith farther, that Intereſt is a Debt, which he oweth by the Law of Nature, that has been to another an effectual cauſe of Damage and Loſs; or indeed has hindred his juſt and lawful Gain. But Vſury to him is Gain which exceedeth to the Loan of Money, &c. As it is alſo with (i)Selneccerus, Hiſt. Chriſt. Relig. p. 2.Selneccerus, (k)Chriſt.Doctor Chitraeus, (l)Aquinas in his Sums.Aqninas, (m)Vignerius, Inſlit. Sect. 3. Theol. c. 5. Lavat. in Exod. 22.Vignerius. I add,
(n)The Arraignment of Uſury.The Author of The Arraignment of Uſury, who is more full; ſaying notably, The way for the Diſcovery of the Uſurer's Evils is, that howſoever the World is wont to confound the Names of Intereſt and Uſury: and Men are wont to ſay, that they t… Intereſt, and lend upon Intereſt, when indeed they take Uſury and lend upon Uſury: yet there are two manifeſt and eſſenti… Differences between Uſury and Intereſt, which do ſo diſting… the one from the other, as that they cannot poſſibly be confounded. One Difference is this; Uſury is an Overplus▪ or Gain, more th… was lent: Intereſt is never Gain or Overplus above the Principal, but a Recompence demanded, and due for the Damage th… is taken, or the Gain that is taken, or the Gain that is hindr… through Lending. Another Difference is this; Uſury accrewe… and groweth due by Lending, from the day of Borrowing, … the appointed time of Payment: Intereſt is never due, but fr… the appointed Day of Payment, forward; and for ſo long as I fubear my Goods after the Day in which I did Covenant to recei… them.
And I add, that Uſury is againſt Equity, Conſcience and R… ſon: Intereſt ſtands with them all, ſaith bleſſed (a)Bolton, p. 58.Boltn; whereof more hereafter.
So that if once I have lent freely unto a certain Day, … ſhall not demand Intereſt for any Damage ſuſtained, or Ga… hindred, during that Term of Time for which I have lent … another. But if at the Covenanted time I receive not mi… own again, then what harm ſoever do betide me after th… Day, for the forbearing thereof, Reaſon will, that it be recompenced by the Borrower. Thus he alſo.
Ah, poor Champion! What are you to theſe famous Men who, in this grand Point, are ſo fully for me? And why … you blame me for this Damage, as they and I call Intereſt, a… if none but I did call it ſo?