Those acquainted with Calvin's "Institutes" will not fail to notice the timid manner in which he treats the subject, as if uncertain of his ground and endeavoring to excuse usury to please his friend. This letter is wanting in that positive air of assured certainty that breathes inspired authority and lends a charm to his "Institutes." He is nearest himself when he bursts out, "It could be wished that all usury and the name itself were banished from the earth."
The letter is here given in full because often more force is carried by the reference to a great name than by the study of his argument. A careful reading of this letter does not reveal a positive approval of usury. He merely excuses it by suggesting other evils that he thinks worse; for instance, that land rentals may be worse than the usury of money. He does not mention the necessary oppression of the poor tenants by the loan upon a mortgage.
It is proof of the weakness of the case when this letter is the most favorable that can be presented from any ecclesiastic.
CHAPTER XII.[ToC]
PERMANENCY OF THE PROHIBITION.
It is sometimes urged that the law of Moses with regard to usury was not intended to be permanent but was only a wise and beneficent regulation for that people in their peculiar condition; that as the ceremonial was done away by the incoming of the New Testament dispensation, so this prohibition was annulled and should be reckoned among the effete laws of the ancient Hebrews.
In answer to this contention it may be replied: