1^2 A. D. 1571. 



This year the ftreets to Whitechapel-bars and its neighbourhood, in 

 the eaftern fiiburbs of London, were by law directed 'O be paved : and 

 alfo all the ftreets of the town of Ipfwich. [13 FJiz. cc. 23, 24.] 



W^e have feen the blind zeal of the parliament in the reign of Ed- 

 ward VI againft ufury, or intereft for money. By the vaft quantities 

 of bullion now conftantly brought from America, and the increafe of 

 fhipping, commerce, and manufadures, while very little (if any) of our 

 filver was as yet carried to India, there were now confiderable fums of 

 money ready to be lent out by fuch as were not immediately engaged 

 in commerce, nor had laid out their money upon lands. Moreover, 

 money began now to be confidered to be as much a commodity as other 

 things, and that it was reaibnable its poflelTors ftiould improve it as 

 much as thofe did who poflelTed lands, houfes, or merchandize. An ad 

 of parliament was therefor pafled (reviving that of the 37th of Hen- 

 ry VIII, c. 9) for eftablifhing the rate of intereft at 10 per cent per an- 

 num. The preamble lets forth, ' that the prohibiting ad of King Ed- 

 ward VI had not done fo much good as was hoped for; but that rather 

 the vice of ufury, and fpecially by fale of wares and fhifts of intereft, 

 hath much more exceedingly abounded, to the utter undoing of many 

 gentlemen, merchants, occupiers, and others, and to the importable 

 hurt of the commonwealth ; as well, for that in the faid late ad there 

 is no provifion againft fuch corrupt ftiifts and fales of wares, as alfo for 

 that there is no difference of punifliment upon the greater or lefler ex- 

 adions and oppreilions by reafon of loans upon ufury. It was there- 

 for now enaded, that the law of the 37th of King Henry VIII be re- 

 vived; and that all bonds, contrads, and afl"urances, collateral or other, 

 to be made for payment of any principal money to be lent, or cove- 

 nant to be performed, upon or for any ufury, in lending or doing of 

 any thing againft the faid ad now revived, upon or by which loan or 

 doing there ftiall be referved or taken above the rate of Lio for the 

 hundred for one year, fliall be utterly void.' [13 EUz. c. 8.] 



Neverthelefs,when after reading this claufe, fo plainly licencing ufury 

 (that is to fay intereft of money, for the word had ftill no other import 

 than intereft has in modern times), at 10 per cent, we come to read the 

 next paragraph, it does not convey the moft advantageous idea of thofe 

 proteftant (and one would think more enlightened) lawgivers, thus to 

 juggle with mankind ; viz. 



' And forafmuch as all ufury (being forbidden by the law of God) is 

 ' fin, and dcteftable ; be it enaded, that all ufury, loan, and forbearing 

 ' of money, or giving days ^ox forbearing of money, by way of loan, 

 ' chevifance, ftiiffs, file of wares, contrad, or other doings whatfoever 

 ' for gain ; whereupon is referved or taken, or covenanted to be referv- 

 ' ed, paid, or given to the lender, contrador, ftiifter, forbearer, or de- 

 ' liverer, above the fum of Lio for the loan or forbearing of Lioo for 



