The Jews

by Hilaire Belloc

The various nations of Europe have every one of them, in the course of their long histories, passed through successive phases towards the Jew which I have called the tragic cycle. Each has in turn welcomed, tolerated, persecuted, attempted to exile—often actually exiled—welcomed again, and so forth. The two chief examples of extremes in action, are, as I have also pointed out in an earlier part of this book, Spain and England. Spaniards, and in particular the Spaniards of the Kingdom of Castile, went through every phase of this cycle in its fullest form. England passed through even greater extremes, for England was the only country which absolutely got rid of the Jews for hundreds of years, and England is the only country which has, even for a brief period, entered into something like an alliance with them.

Though it is the present position of the British State—that is, the position of official British politics towards the Jew—with which we are concerned, it may be of service to introduce the matter by a word upon past relations.

The Jewish element in this island, whatever it may have been during the Roman occupation, was of small account during the Dark Ages. Things changed at their close in the eleventh century. The Jew is the camp follower of each new economic movement among us and that is why one finds him in the wake of the Norman Conquest. Throughout the economic development which it began appears the secondary rôle of the Jew. Every one knows the mediaeval rule of Jewish Status. It was established here as everywhere else in Christendom. The Jew was the King's; that is, under the special protection of the State. If he were the subject of popular attack, that attack was an attack on the King's peculiar, and liable to speedy repression. The individual attacker was punished with special severity because the danger of mass-movement is always great where the populace is free to act in masses as it was throughout the middle ages, and the necessity for preventing individual attacks from spreading was correspondingly great. Now and then the popular feeling got out of hand and the monarch had to deal with numbers which he could not control; but as a rule the Jew, especially the rich Jew, enjoyed a privileged position, both in Northern France and throughout England. The Jew of the early Middle Ages in England was normally a well-to-do man and often an exceedingly rich man. Then, as now, a small number of Jews were much the richest men of their time.

He had most of the finances in his hands, and this immense privilege (which he has lost), that he alone was allowed to practise usury. Here we must pause a moment to define usury.

Usury then (as now) signified the receiving of interest upon unproductive loans. It is a practice which all moralists and all philosophers have condemned and which the Church in particular condemns. If you lend money to a man for a productive purpose: if, for instance, he is to buy a ship and trade with the money you advance, or to buy a farm and grow produce, then, of course, you are perfectly free to stipulate for a portion of the profit. But if you lend the money for a purpose not directly productive, as, for instance, to a man in grave necessity, or in lieu of charity, or to build such a building as a church, which will not produce a rent, or if in any other fashion you lend money to one who (to your knowledge) will not spend it in some reproductive agency, then it is immoral to demand interest.

Now an exception was made in mediaeval Christendom in favour of the Jew. He was allowed to lend money at interest, even in the most grievous cases of necessity, and for services as unproductive as religion or war. The only stipulation was that the moneys saved from this lucrative practice returned to the Crown (in theory) upon the death of the licensee. In practice no doubt a very large part remained with the accumulator, who during his lifetime was enjoying the income he had acquired by usury, who could give it to his heirs while still living, and could use opportunities for secret investment, or pass it to the custody of others throughout international Jewry. But liquid sums left by him, the product of his usury, returned to the Crown upon his death. This was a great advantage to the Crown, not only in protecting the Jew from the native hostility of his alien hosts (and particularly of the populace), but in giving him that great privilege—a monopoly.

The rate of interest was enormous. It varied from nearly 50 per cent to over 80 per cent. When Jews lent money on security the King was party to the safe custody of the security, and their privilege extended so far that they were exempt from the common law, and a case between an Englishman and his Jewish creditor could only be tried by a mixed jury in which the Jew's own compatriots were present in equal numbers with the English.

All during the Angevin period Jewish financial domination continued, up to the end of the twelfth century and even into the beginning of the thirteenth. But with the first half of the thirteenth century, for some reason of which I have never seen a sufficient historical analysis and of which, perhaps, the full causes have been lost, the Jewish power began to decline very rapidly, so far as England was concerned.