In 1546, a law was made for fixing the interest of money at ten per cent.; the first legal interest known in England. Formerly all loans of that nature were regarded as usurious. The preamble of this very law treats the interest of money as illegal and criminal; and the prejudices still remained so strong, that the law permitting interest was repealed in the following reign.

This reign, as well as many of the foregoing and even subsequent reigns, abounds with monopolizing laws, confining particular manufactures to particular towns, or excluding the open country in general.[*] There remain still too many traces of similar absurdities. In the subsequent reign, the corporations which had been opened by a former law, and obliged to admit tradesmen of different kinds, were again shut up by act of parliament; and every one was prohibited from exercising any trade who was not of the corporation.[**]

Henry, as he possessed himself some talent for letters, was an encourager of them in others. He founded Trinity College in Cambridge, and gave it ample endowments. Wolsey founded Christ Church in Oxford, and intended to call it Cardinal College: but upon his fall, which happened before he had entirely finished his scheme, the king seized all the revenues; and this violence, above all the other misfortunes of that minister, is said to have given him the greatest concern.[***] But Henry afterwards restored the revenues of the college, and only changed the name. The cardinal founded in Oxford the first chair for teaching Greek; and this novelty rent that university into violent factions, which frequently came to blows. The students divided themselves into parties, which bore the names of Greeks and Trojans, and sometimes fought with as great animosity as was formerly exercised by those hostile nations. A new and more correct method of pronouncing Greek being introduced, it also divided the Grecians themselves into parties; and it was remarked that the Catholics favored the former pronunciation, the Protestants gave countenance to the new. Gardiner employed the authority of the king and council to suppress innovations in this particular, and to preserve the corrupt sound of the Greek alphabet. So little liberty was then allowed of any kind!

* 21 Henry VIII. c. 12. 25 Henry VIII. c. 18. 3 and 4 Edward
VI. c. 20. 5 and 6 Edward VI. c. 24.
** 3 and 4 Edward VI. c. 20.
*** Strype, vol. i. p. 117.

The penalties inflicted upon the new pronunciation were no less than whipping, degradation, and expulsion; and the bishop declared, that rather than permit the liberty of innovating in the pronunciation of the Greek alphabet, it were better that the language itself were totally banished the universities. The introduction of the Greek language into Oxford excited the emulation of Cambridge.[*] Wolsey intended to have enriched the library of his college at Oxford with copies of all the manuscripts that were in the Vatican.[**] The countenance given to letters by this king and his ministers contributed to render learning fashionable in England: Erasmus speaks with great satisfaction of the general regard paid by the nobility and gentry to men of knowledge.[***] It is needless to be particular in mentioning the writers of this reign or of the preceding. There is no man of that age who has the least pretension to be ranked among our classics. Sir Thomas More, though he wrote in Latin, seems to come the nearest to the character of a classical author.

* Wood’s Hist. and Antiq. Oxon. lib. I p. 245.
** Wood’s Hist. and Antiq. Oxon. lib. I p. 246.
*** Epist. ad Banisium. Also Epist. p. 668.

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CHAPTER XXXIV.

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