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A59405 The case of interest or usury as to the common practice, stated and examined in a private letter to a person of quality who desired satisfaction in that point / by T.S. T. S. (Thomas Seymour) 1673 (1673) Wing S2830; ESTC R37381 32,949 43

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in mensura Statera justa aequa sint pondera Ego Dominus Deus vester Do nothing unjust in weight or measure let the ballance be just and the weights equal I am the lord your God c. I subsume but Money now by general consent is the Common Standard or measure of Exchange How unjust then must the Usurer be who makes the measure it self whence all Equality depends Vn-even and Vn-equal An hundred pounds in the exchange of any Commodity are precisely worth but an hundred pounds But to the Usurer an hundred pounds are of the value of an hundred and six or more according to his own pleasure for his Will must be the Standard of Worth Price and Value and to the Debtor or Borrower they avayle but ninety four pounds or under I would fain see the Commutative Justice of this which according to all consists in an Arithmetical exact proportion Here again they have recourse to their former refuge The Usurer forsooth only recompenses the loss of a possible gain he might have purchased and he takes the Interest as a Reward of that possible profit the Borrower is presum'd to have made with his Money But I answer for once and all 1. That there is no sufficient Proportion between an Actual Infallible gaine and a meer possible one attended by a multitude of Casualites this is apparent in other bargains For example why may not a Horse-courser sell a Horse with a safe Conscience for five times as much as he knows him to be worth because there is a possibility of the Buyers being set upon by Robbers and for-ought he knows the Horse being very fleet may save both his life and 200 pieces he has about him The like may be instanced in an hundred other occasions So that it is not the uncertain hopes of a future Advantage but the present real and intrinsecal value of the thing that must sway in setting the rate and price of it 2. Whosoever will adjoyn such Cautions as these in his Lending namely to receive an equitable part according to the Estimate of prudent honest and indifferent Judges of the In-comes from the Principal when they are actually in Being and in the Borrowers hand and withal be willing to venture a competent share of his own Principal should it happen to miscarry I have nothing to argue against his contract but conclude it warrantable However to think that our Money-Merchants now a-days act upon such ingenuous principles in their dealings Credat Indaus Apella it is beyond my Faith and I am sure out of the common roade both of their Law and practice That I have not been over rigid in censuring I might easily evince from the writings of Authors of the highest Ranck and undoubted Authority who unanimously condemn far smaller matters than I have here impeached I will but give you a taste of some few The The Learned Cardinal Tolet sayes It is Usury though I have but an intention without expressing it in the contract of receiving more than I gave forth as due upon the score of Lending Cardinal Lugo calls it Usury to Lend Money that I may obtain some Office or Employment under him to whom I Lend To Lend old Corn with obligation of repaying new if I foresee the new will be better and dearer is Usury as Sylvester and Navarre teach It is Usury to lend and lay a Juridical Obligation on the Borrower either to lend to thee again or to buy in thy shop or to serve under thee c. as Lessius Layman and Bonacina affirm It is Usury as Salas very well proves to lend to the Prince or Common-wealth that thou mayst be free from Tribute and Taxes It is Usury to oblige the Borrower to accept part of the Money in thy Wares and Merchandice in the judgment of that great Casuist Diana To lend Money on this Condition that the Borrower at his great cost and charges procure it from one of my Debtors of whom I could not have got it without much difficulty and trouble is Usury if we believe the judicious Merchantius To go a little higher In the Provincial Synods of Cambray Anno 1586. Mechline 1570. St. Omers 1583. Ipres 1577. In a special Edict set forth by Philip the second King of England and Spain it was peremptorily decreed that No Tutor or Guardian of Orphans under pretence of increasing their Patrimony should let out their Money from year to year for a certain gain above the Capital reserving a faculty or power of calling in the Principal or Capital sum either when the Pupils came to age the day of Marriage or otherwise at their pleasure The aforesaid Authority calls all such Contracts Usury and proceeds against such Lenders as Usurers and declares the Contract or Obligation invalid or of no force From Provincial Synods let us ascend to General Councils The Council of Agatha before cited positively defines Usury to be the receiving of more than was lent chap. 3. The first Nicene Council declares it a mortal or heinous sin and punishes it in the Clergy with Degradation Can. 17. The first Council of Arles forbids Usurers the Participation of the Eucharist The second ratifies the Decree of the first chap. 14. The first Council of Carthage uses the Apostles word and terms it Turpe Lucrum filthy gain cap. 13. The Eliberitan Council formally degrades the Clergy and Excommunicates the Laity that are Guilty cap. 20. and the Council of Toures severely prohibits it chap. 13. But the most terrible of all is the Lateran Council under Alexander the III. chap. 25. It is too long to transcribe but it confirms the censures that went before and super-adds others As to the matter of Law I fear the Usurer will find but little favour 1. The Canon Law both finds him guilty and condemns him The fifth book of Decretals the 47th distinction in the Decrees Caus 14. Quest 3. 4. wholly consound him Two Decretal Epistles one of Pope Gelasius the other of Pope Leo the first thunder against him by vertue of which while he is well in health he must not receive the Eucharist in the Church nor make any Offering when he is sick he is not so much as to be visited or permitted to make his Will nor when dead is he admitted to Christian Burial Nay which I wish would be laid well to heart the Sollicitors who perswade the Procurers the Publick Notaries and Witnesses who assist at the Lawyers who defend the Judges and Magistrates who countenance such Contracts the Confessors who absolve him are all involved in the same crime and subjected to the same Anathema The Authentick Records of Primitive times assure us that the person who was but suspected of Usury was neither vouchsafed the Kiss of Peace in the Church nor respected with common salutation in the streets his house was generally called the Seat of Satan nor was it lawful for any Christian to setch fire from thence Nor doth the Civil Law