In hardly any struggle has rigid adherence to the letter of
our sacred books been more prolonged and injurious.
Certainly, if the criterion of truth, as regards any doctrine, be
that of St. Vincent of Lerins--that it has been held in the Church
"always, everywhere, and by all"--then on no point may a Christian
of these days be more sure than that every savings institution,
every loan and trust company, every bank, every loan of capital by
an individual, every means by which accumulated capital has been
lawfully lent even at the most moderate interest, to make men
workers rather than paupers, is based on deadly sin.
The early evolution of the belief that taking interest for money is
sinful presents a curious working together of metaphysical,
theological, and humanitarian ideas.
In the main centre of ancient Greek civilization, the loaning of
money at interest came to be accepted at an early period as a
condition of productive industry, and no legal restriction was
imposed. In Rome there was a long process of development: the greed
of creditors in early times led to laws against the taking of
interest; but, though these lasted long, that strong practical
sense which gave Rome the empire of the world substituted finally,
for this absolute prohibition, the establishment of rates by law.
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