Title XIX: On Usuries

Latin source headnote: Usury is to make profit from the fruits of a thing given in pledge; this fails in the case excepted here.

Alexander III, in the Council of Tours.

Many clerics, and, what we say with sorrow, even those who by verbal profession and habit have left the present world, while they abhor ordinary usuries as if more manifestly condemned, lend money to persons in need, receive their possessions in pledge, and take the fruits arising from them beyond the principal. Therefore, The authority of the general council has decreed that no one henceforth established in the clergy presume to practice either this or another kind of usury. And if anyone [up to this time] has received another's possession in pledge under this appearance or condition in return for money given, if, after expenses have been deducted, he has already received his principal from the fruits, let him restore the possession absolutely to the debtor. But if he has something less, after that has been received, let the possession return freely to its owner. But if after a constitution of this kind anyone established in the clergy shall have persisted in the detestable profits of usuries, let him suffer peril to ecclesiastical office, unless perhaps it was a benefice of a church that appeared fit to be redeemed for it in this manner from the hand of a layman.

Latin source headnote: In effect, it says the same as the preceding chapter, but adds tacitly that the same applies to laymen. For in the preceding chapter mention was made only of clerics.

The same, to the Archbishop of Canterbury and his Suffragans.

Because it is dangerous not only for ecclesiastical men but also for any others to devote themselves to the profits of usuries, by the authority of the present letters we have decided to enjoin upon you that, through ecclesiastical coercion and without the exaction of usuries, you compel those who, after expenses have been deducted, have already received their principal from the possessions or trees that they are known to hold in pledge, to restore those pledges.

Latin source headnote: Manifest usurers cannot be admitted to the communion of the altar, ecclesiastical burial, or the offering of an oblation; and clerics acting contrary to this are to be punished as is stated here.

The same, in the Lateran Council.

Because in almost every place the crime of usuries has become so strong that many, setting aside other businesses, practice usuries as if lawfully, and pay no attention to how they are condemned by the page of each testament, we therefore decree that manifest usurers are neither to be admitted to the communion of the altar nor, if they die in this sin, to receive Christian burial, and that no one is to receive their offerings. But whoever shall have received them or delivered them for Christian burial is both to be compelled to return what he received and to remain suspended from the exercise of his office until he makes satisfaction according to the judgment of his bishop.

Latin source headnote: It can be understood in two ways: first concerning the lender, and second concerning the recipient of usuries; and according to the first understanding it says this: it is not lawful to receive usuries even for a pious work when through the receipt cause is given for usury to be committed. It says this. Or thus, and more clearly: it is not lawful to induce anyone to practice usuries, even for a pious work. And this reading is gathered from the decision.

The same, to the Archbishop of Palermo.

Concerning that, moreover, which your affection asked of us—whether a dispensation can be made for receiving money at usury so that the poor who are held in captivity by the Saracens can be freed through that same money—by these present letters to you We respond that, since the page of each testament detests the crime of usuries, we do not see that any dispensation can be made concerning this, because, since sacred scripture forbids a person even to lie for the life of another, much more must one be forbidden to become involved in the crime of usuries even for redeeming the life of a captive.

Latin source headnote: Usurers who are solvent are compelled by the penalties of the Lateran Council to restore usuries, even those that they received before the council; and when means do not exist, possessions bought from money lent at interest ought to be sold, and satisfaction ought to be made to those entitled to receive it.

The same, to the Archbishop of Salerno.

When you, as you assert, commanded that manifest usurers, namely those who died in that sin, according to our decree that was recently promulgated in council, be deprived of the communion of the altar and ecclesiastical burial until they return what they had received so wickedly, certain of them say that their own resources are insufficient to pay the usuries received. Others, however, promise that [they] will return the portions of the usuries that they have at hand; but they confess that they cannot return other usuries that they had extorted, since possessions were purchased from them and delivered to their children or parents. Others, however, shamelessly, in order to excuse excuses in sins, affirm that only those usuries are to be restored which were received after our prohibition, and that no persons ought to be compelled to pay usuries that they had received before our prohibition. Concerning these matters we thus respond to your fraternity: whether before or after our prohibition they extorted usuries, they are to be compelled by the penalty that we established in council to restore them to those from whom they extorted them, or to their heirs, or, if these do not survive, to distribute them to the poor, provided that they have in their resources that from which they can restore them, since, according to the word of blessed Augustine, sin is not remitted unless what was taken is restored. But those who do not have in their resources that from which they can restore the usuries ought not to be chastised by any penalty, since the mark of poverty manifestly excuses them. The possessions, however, that were purchased from usuries ought to be sold, and their prices restored to those from whom the usuries were extorted, so that thus they may be freed not only from that penalty but also from the sin that they had incurred through the extortion of usuries.

Latin source headnote: One who sells a thing for more than it is worth because he defers payment sins, unless it is doubtful whether at the time of payment the value of the thing will have changed, and the seller would not have been going to sell at the time when he sold. It says this according to the common understanding.

The same, to the Archbishop of Genoa.

You say that in your city it often happens that certain persons buy pepper, cinnamon, or other merchandise, which at that time is not worth more than five pounds, and promise through a public instrument that they will pay six pounds at the established term to those from whom they receive that merchandise. Although a contract of this kind cannot from such a form be deemed to bear the name of usuries, nevertheless the sellers incur sin unless it is doubtful whether that merchandise will be worth more or less at the time of payment. And therefore your citizens would consult well for their salvation if they ceased from such a contract, since the thoughts of men cannot be hidden from almighty God.

Latin source headnote: A usurer who, after admonition, does not desist, if he is a cleric, is suspended from office and benefice; if a layman, he is excommunicated.

The same.

Furthermore, you are to forbid your parishioners to receive usuries in every way, because the page of each testament detests the crime of usuries. If they should scorn to obey your admonitions, if they are clerics, you are to suspend them from office and benefice; if [however] they are laymen, you are to bind them with the bond of excommunication until worthy satisfaction.

Latin source headnote: The fruits of a thing given in pledge ought to be computed toward the principal, and it excepts one case.

The same, to the Abbot and Brothers of Saint Laurence.

The cleric C., the bearer of the present letters, complained to us that, although from a certain piece of land that his father obligated to you, after expenses were deducted, you received your principal, you nevertheless still detain that land, not without derogation from your salvation, uprightness, and reputation. Wherefore, by apostolic writings and by way of precept we command your discretion that, if you detain that land by title of pledge and have received your principal from its fruits, you return the aforesaid land to the aforesaid cleric with delay and appeal ceasing, and leave him in peace and quiet, unless perhaps that land is of the fief of your monastery.

Latin source headnote: An heir, whether the usurer's son or an outsider, is compelled to restore usuries extorted by the deceased.

The same, to the Bishop of Piacenza.

Your fraternity led us to be consulted as to what is to be observed concerning the sons of usurers who succeed them when they have died in the crime of usuries, or concerning outsiders to whom you assert that the goods of the usurers have devolved. We therefore respond to your question by the present letters that sons are to be compelled to restore the usuries by the same coercion by which their parents, if they were living, would be compelled. We believe that this same thing is also to be exercised against outside heirs.

Latin source headnote: One who lends with the intention that he receive something beyond the principal is bound in the forum of the soul to restore it if he obtained anything from this. The same applies to one who does not give permission for an oath unless he receives something from it. And the same applies to one who sells a thing for more than it is worth because he defers payment.

Urban III.

Your devotion consulted us, in which we commend the solicitude of the priestly office, whether in the judgment of souls he ought to be judged as a usurer who, not otherwise intending to make the loan, lends money with the intention that, although every agreement is absent, he nevertheless receive more than the principal; and whether he is involved in the guilt of the same crime who, as is commonly said, does not otherwise grant permission for an oath until, although without exaction, he receives some emolument from it; and whether a merchant ought to be condemned by a similar penalty who sells his merchandise for a far greater price if a longer delay is extended for making payment than if the price is paid to him immediately. But because what is to be held in these cases is manifestly known from the Gospel of Luke, in which it is said, “Make a loan, hoping for nothing from it,” persons of this kind, on account of the intention of gain that they have, since every usury and surplus is prohibited in the law, are to be judged to act wickedly and, in the judgment of souls, effectively induced to restore the things that were received in such a manner.

Latin source headnote: A manifest usurer who appeals in order to evade restitution is not to be heard.

Innocent III, to the Prelates Established in the Kingdom of France.

How pernicious the vice of usuries is, we do not believe your discretion to be ignorant, since, besides the canonical constitutions that have issued forth in hatred of them, through the Prophet it is given to be understood that those who give their money at usury are to be repelled from the tabernacle of the Lord; and usuries are prohibited in both the new and the old testament, since Truth itself commands, “Make a loan, hoping for nothing from it,” and through the Prophet it is said, “You shall not receive usury or any surplus.” Wherefore, by apostolic writings We command you all that you not permit manifest usurers, especially those who are established to have publicly renounced usuries, to protect themselves by the evasion of any appeal when someone proceeds against them concerning usuries. [Given at the Lateran on the fifth day before the Kalends of November, 1198.]

Latin source headnote: Through the withdrawal of communion with Christians and through secular princes, Jews are to be compelled to restore usuries.

The same, to the Archbishop of Narbonne.

After the pitiable. (And below:) [But if any of those setting out for that place are bound by oath to furnish usuries, you, brother archbishops and bishops, throughout your dioceses, with the obstacle of appeal removed, are to compel their creditors by the same coercion, so that, completely absolving them from the oath, they desist from further exaction of usuries. But if any of the creditors shall compel them to pay usuries, with the obstacle of appeal removed you are to compel him to restore them by similar coercion.] We command [however] that Jews be compelled to remit usuries to Christians by you, sons, the secular princes and powers. And until they shall have remitted them, by a sentence of excommunication we command that all communion with them be altogether denied by all Christ's faithful, both in trade and in other matters. [Therefore, let no one altogether withdraw himself from this work, etc. Given at Rieti on the eighteenth day before the Kalends of September, 1198.]

Latin source headnote: Notwithstanding an oath furnished by a debtor not to seek the return of usuries, a judge can by virtue of his office compel the usurer to restore the usuries.

The same, to the Bishop of Modena.

We received your questions some time ago, because certain usurers of your diocese cause those to whom they give money at usury to furnish an oath that they will not seek the return of the usuries and will raise no question concerning those that they have paid. We therefore respond thus to your inquiry: after prior admonition, through ecclesiastical censure and with appeal removed, you are to compel the usurers themselves, before the payment of the usuries, to desist from exacting them, or to restore them after they have been paid, lest it happen that they obtain an advantage from their deceit and fraud, who cause the oath to be furnished for this purpose, that they may not be troubled concerning the usuries.

Latin source headnote: A usurer seeking the return of usuries is not heard unless he first restores those he extorted.

The same.

Because [therefore] he who acts against the law invokes the law's assistance in vain, we decree that, if any usurer shall obtain letters from us concerning the restoration of usuries or the computation of fruits toward the principal, unless he himself first restores the usuries that he is known to have received from others, he is in no way to be heard by authority of those letters. [Given at Rome on the fifth day before the Kalends of January, 1205.]

Latin source headnote: One convicted of usurious depravity through public report and other arguments can be declared a usurer and restrained as a manifest usurer according to the disposition of the Lateran Council.

The same, to the Bishop of Auxerre.

Although there are very many usurers in your diocese concerning whom it is not in the least doubted that they are manifest usurers, no accuser appears against them on account of fear of princes and powerful persons who protect them, nor have those same persons been condemned by sentence. You therefore decided to seek from the oracle of the Apostolic See how you can proceed against them. But we respond thus to your fraternity: although no accuser appears against them, nevertheless, if by other arguments it shall have been established that they are manifest usurers, you will be able freely to exercise against them the penalty issued against usurers in the Lateran Council. [Given at the Lateran on the seventeenth day before the Kalends of June, in the tenth year, 1207.]

Latin source headnote: A husband receiving a pledge for a promised dowry is not bound to compute the fruits toward the principal. It says this; it is a singular case and is not proved elsewhere.

The same.

Salutarily. (And below:) Indeed, we do not believe that a son-in-law is to be compelled to compute toward the principal the fruits of the possessions that were obligated to him in pledge by his father-in-law for a dowry treated as paid, since frequently the fruits of the dowry are not sufficient to support the burdens of marriage.

Latin source headnote: One seeking the return of usuries is not heard unless he restores those extorted by himself or another from whomsoever he derives his cause.

The same, to the Bishop of Bologna.

The layman Michael sent his complaint to us that M. and certain other citizens of Bologna extorted many things from him and from his father, whose heir he became, in the name of usuries. (And below:) You are to take very attentive care that you do not proceed in that business by our authority unless the said complainant has restored, or still restores, any usuries that he himself or his father at any time extorted.

Latin source headnote: Jews also are to be compelled to restore usuries extorted from Christians and to pay tithes or offerings from their possessions.

The same, in the General Council.

The more the Christian religion is restrained from the exaction of usuries, the more gravely the perfidy of the Jews grows strong in these matters, so that within a short time they exhaust the resources of Christians. Wishing, therefore, to provide in this respect for Christians, lest they be inhumanly burdened by Jews, we establish by synodal decree that, if henceforth under any pretext Jews shall have extorted grave or immoderate usuries from Christians, participation with Christians is to be withdrawn from them until they have made suitable satisfaction for the immoderate burden. Wherefore Christians, if there is need, are to be compelled through ecclesiastical censure and with appeal set aside to abstain from trade with them. We moreover enjoin upon princes that they are not on this account to be hostile to Christians, but rather are to take care to restrain the Jews from so great a burden. By this same penalty we decree that Jews are to be compelled to make satisfaction to churches for tithes and offerings due, which the churches were accustomed to receive from Christians from houses and other possessions before they came to the Jews by any title, so that the churches may thus be preserved without loss.

Latin source headnote: He is a usurer who receives from a debtor something beyond the principal, even if he assumes the risk upon himself. It says this first. A purchaser of a thing below the just price is not a usurer if at that time it is probably doubted whether at the time of payment the thing will be worth more or less. It says this second. By reason of doubt, one is excused who, because he defers payment of the price, sells a thing for more than it is worth, if he was not otherwise going to sell it. It says this third.

Gregory IX, to Brother R.

One who lends a fixed quantity of money to a person sailing or going to a fair, intending, because he assumes the risk upon himself, to receive something beyond the principal, is to be deemed a usurer. Likewise, one who gives ten solidi so that at another time the same number of measures of grain, wine, or oil are returned to him—which, although they are then worth more, it is probably doubted whether at the time of payment they will be worth more or less—ought not on this account to be considered a usurer. By reason of this doubt, he too is excused who sells cloth, grain, wine, oil, or other merchandise so that at a fixed term he may receive for it more than it is worth at that time, provided, nevertheless, that at the time of the contract he had not been going to sell it.