The Holy Fathers on Usury
*Usury is the action or practice of lending money at unreasonably high rates of interest.
~Old Testament
“If you lend money to any of My people who are poor among you, you shall not be like a moneylender to him; you shall not charge him interest.”
(Exodus 22:25)
“Take no usury or interest from him; but fear your God, that your brother may live beside you. You shall not lend him your money for usury, nor lend him your food at a profit.”
(Leviticus 25:36-37)
“You shall not charge interest to your brother-interest on money or food or anything that is lent out at interest.”
(Deuteronomy 23:19)
“He who does not put out his money at usury, nor does he take a bribe against the innocent. He who does these things shall never be moved.”
(Psalm 15:5)
“One who increases his possessions by usury and extortion, gathers it for him who will pity the poor.”
(Proverbs 28:8)
“If he has exacted usury, or taken increase-
Shall he then live?
He shall not live!
If he has done any of these abominations,
he shall surely die;
His blood shall be upon him...”
(Ezekiel 18:13)
“In you they take bribes to shed blood; you take usury and increase; you have made profit from your neighbours by extortion, and have forgotten Me, says the Lord God.”
(Ezekiel 22:12)
~New Testament
“Give to everyone who asks of you. And from him who takes away your goods do not ask them back. And just as you want men to do to you, you also do to them likewise.
But if you love those who love you, what credit is that to you? For even sinners love those who love them. And if you do good to those who do good to you, what credit is that to you? For even sinners do the same. And if you lend to those from whom you hope to receive back, what credit is that to you? For even sinners lend to sinners to receive as much back. But love your enemies, do good, and lend, hoping for nothing in return; and your reward will be great, and you will be sons of the Most High. For He is kind to the unthankful and evil. Therefore be merciful, just as your Father also is merciful.”
(Luke 6:30-36)
~Ancient Greek Philosopher
“The most hated sort (of money maker), and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural object (way) of it. For money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of an modes (the different ways) of getting wealth this is the most unnatural.”
(Aristotle)
~Holy Fathers
The First Ecumenical Council of Nicaea, in 325, forbade clergy from engaging in usury.
At the time, usury was interest of any kind, and the church canon forbade the clergy to lend money at interest rates even as low as 1% per year.
Later Ecumenical Councils applied this regulation to the laity as well.
“Forasmuch as many enrolled among the Clergy, following covetousness and lust of gain, have forgotten the divine Scripture, which says, ‘He has not given his money upon usury.’ (Ezekiel 18:8), and in lending money ask the hundredth of the sum (as monthly interest), the holy and great Synod thinks it just that if after this decree any one be found to receive usury, whether he accomplish it by secret transaction or otherwise, as by demanding the whole and one half, or by using any other contrivance whatever for filthy lucre's sake, he shall be deposed from the clergy and his name stricken from the list.” (1st Ecumenical Council, Canon 17)
“…let it suffice to remark that the law prohibits a brother from taking Usury.”
(St. Clement of Alexandria)
“Money lending has no value and is rapacious (greedy)… Money lending wants everything to be wild and begets whatever has been untilled… Usury’s home is a threshing-floor upon which the fortunes of the oppressed are winnowed and where it considers everything as its own. It prays for afflictions and misfortunes in order to destroy such persons. Money lending despises people contented with their possessions and treats them as enemies because they do not provide money. It watches courts of law to find distress in persons who demand payment and follows tax collectors who are a nest of vultures in battle array prepared for war. Money lending carries a purse and dangles bait as a wild beast to those in distress in order to ensnare them in their need. Daily it counts gain and cannot be satisfied…”
(St. Gregory of Nyssa)
“Do not lend money at interest. (If you do) you accuse Scripture which says, ‘He that has not given his money upon usury.’ I did not write this: it did not go forth first from my mouth: Hear God.” (St. Augustine of Hippo)
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