Geneva Quotes
That no one shall take upon interest or profit more than five per cent., upon penalty of confiscation of the principal and of being condemned to make restitution as the case may demand.
Geneva, Switzerland, Ordinances For The Regulation of the Churches Dependent Upon the Seigniory of Geneva, 1547
Sourced by: Eigen's Political and Historical Quotations
This was the equivalent of 8.3 percent.
Manava Dharma Shastra. Ancient Jewish law prohibited the charging of interest. The early Christian world frowned upon it and morally and legally vacillated from time to time. Islam outlawed interest completely and some orthodox Muslims and Muslim counties loans with interest are illegal. However the ancient Hindus not only allowed interest but felt that it was such an important component of the economy that there were numerous regulations, religions and legal regulating it. This example made 5 percent the maximum allowable interest rate. This text is a part of the Hindu Holy Texts. Hindus believe that Manu was a prophet whose text is revealed or inspired.
Interest is forbidden in all transaction, both business and personal.
Sherman, at the height of the California Gold Rush, took a private assignment for Moffett & Company, establishing and running an assaying, banking and minting company in San Francisco
Such an interest rate was not considered high, much less usurious.
North was none-the-less in favor of allowing interest rates be much higher, but was stating the best argument, believed at the time by most English experts, and many American economists today.
The major targets of this law were the Puritans who would not attend the normal Church of England services but had their own, usually in a private home.
This notice of Excommunication was promulgated to the Catholic clergy in Ireland in May of 1538. It required all Roman Catholic leaders to size the property of Protestants or Catholics who sympathized with them. Those who did were then regarded as traitors by the Protestant King. The anti-Protestant feeling culminated with the massacre of about 100 Protestants who were drowned in Bann a few years later.
Whoever teaches differently from what I have taught, … condemns God and must remain a child of hell.
Humility and doubt were not characteristics of Martin Luther.
See Morris Eigen {621723} for a similar but differently nuanced perspective.
This is an excellent historical quotations showing how our government financed the Spanish American War. Wars have always placed economic stress on the nations which wage then. In the American Revolution we borrowed from individuals and from France. After that all our wars were financed by a combination of war bond sales, other borrowing, and tax increases—all except the George W, Bush Afghanistan and Iraq Wars which were not funded thus complicating an economic crises caused by Bush’s Great Recession. While some critics saw Bush’s actions as reprehensible and irresponsible—it was the only time in American history where tax rates were cut in wartime, Bush’s team had a plan. They had an ideological point of view that said that major tax cuts would spur the economy and lead to MORE government revenue as a result of the growth that would come. However, in this case there not only was no growth, but there was the worst recession in American History. But there was a plan to finance the war—it just went awry.
Essentially, the Council voted to close all the banks of the day and get rid of all the bankers. Without banking economic development of Christian (Catholic) Europe stagnated and did not thrive until the Borgia’s used their banking prowess to actually attain the Papacy. Ironically, Christians, Jews and Muslims all had banned banking—usury—the charging of interest for borrowed money—as a serious sin. To this day there are orthodox fundamentalists of all three religions who decry modern banking, but the majority of Christians and Jews no longer have any problem with banking, and while the Muslims generally still decry it as a sin, the wealthy Muslims have come up with various fig leaves where they pretend that banking us not usury, and in the modern world, although they are castigated by a mullah or two, the essence of capitalism goes on even in Muslim countries.
Geneva (/dʒɪˈniːvə/ jin-EE-və; French: Genève [ʒənɛv] (listen); Arpitan: Genèva [dzəˈnɛva] (listen); German: Genf [ɡɛnf] (listen); Italian: Ginevra [dʒiˈneːvra]; Romansh: Genevra) is the second-most populous city in Switzerland (after Zürich) and the most populous city of Romandy, the French-speaking part of Switzerland. Situated where the Rhône exits Lake Geneva, it is the capital of the Republic and Canton of Geneva.
