An Address On the Subject of the Usury Laws. An Answer to the Hon. John Whipple, of Rhode Island, By James Gallatin, Delivered Before the Board of Currency, of New York, On Wednesday Evening, February 2, 1859, in the Hall of the New York Historical Societ
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In our eReader you can find the full English version of the book. Read An Address On the Subject of the Usury Laws. An Answer to the Hon. John Whipple, of Rhode Island, By James Gallatin, Delivered Before the Board of Currency, of New York, On Wednesday Evening, February 2, 1859, in the Hall of the New York Historical Societ Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book An Address On the Subject of the Usury Laws. An Answer to the Hon. John Whipple, of Rhode Island, By James Gallatin, Delivered Before the Board of Currency, of New York, On Wednesday Evening, February 2, 1859, in the Hall of the New York Historical Societ
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They loan at usurious rates; for of course the lender must be indemnified for the use of his capital, and at the same time for the risk of the infraction of the law. The same thing happened amongst Christians as long as the lending for interest was forbidden ; and when the necessity of borrowing made them tolerate it with the Jews, these were exposed to so many humiliations, outrages, extortions, sometimes under one pretext, and then under another, that a considerable interest was alone calcula...ted to cover so many vexations and losses. Letters patent were granted by King John in the year 1360, authorizing the Jews to loan on pledge, and receive for each livre, or twenty sous, four deniers for interest per week, which makes more than eighty-six per cent, per annum / out, the following year, this prince, who nevertheless passes for one of the most faithful to his word that we have had, caused secretly the quantity of fine metal contain- ed in the money to be diminished, so that the lenders, when they were reimbursed, only received a value equal to what they had loaned.'''' It will be clear to all who have attended to the very able argument which I have just read, that Say shows conclu- sively, that the more severe the penalties were in ancient times, and the greater the risk, the higher was the rate of interest ; and that the risk of having the coin debased, a fact which Mr.
What to read after An Address On the Subject of the Usury Laws. An Answer to the Hon. John Whipple, of Rhode Island, By James Gallatin, Delivered Before the Board of Currency, of New York, On Wednesday Evening, February 2, 1859, in the Hall of the New York Historical Societ?
You can find similar books in the "Read Also" column, or choose other free books by James Gallatin to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
They loan at usurious rates; for of course the lender must be indemnified for the use of his capital, and at the same time for the risk of the infraction of the law. The same thing happened amongst Christians as long as the lending for interest was forbidden ; and when the necessity of borrowing made them tolerate it with the Jews, these were exposed to so many humiliations, outrages, extortions, sometimes under one pretext, and then under another, that a considerable interest was alone calcula...ted to cover so many vexations and losses. Letters patent were granted by King John in the year 1360, authorizing the Jews to loan on pledge, and receive for each livre, or twenty sous, four deniers for interest per week, which makes more than eighty-six per cent, per annum / out, the following year, this prince, who nevertheless passes for one of the most faithful to his word that we have had, caused secretly the quantity of fine metal contain- ed in the money to be diminished, so that the lenders, when they were reimbursed, only received a value equal to what they had loaned.'''' It will be clear to all who have attended to the very able argument which I have just read, that Say shows conclu- sively, that the more severe the penalties were in ancient times, and the greater the risk, the higher was the rate of interest ; and that the risk of having the coin debased, a fact which Mr.
What to read after An Address On the Subject of the Usury Laws. An Answer to the Hon. John Whipple, of Rhode Island, By James Gallatin, Delivered Before the Board of Currency, of New York, On Wednesday Evening, February 2, 1859, in the Hall of the New York Historical Societ?
You can find similar books in the "Read Also" column, or choose other free books by James Gallatin to read onlineMoreLess
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