Excessive Interest Quotes
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.
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.