Interest
Summary
The charge for the use of money, called 'usury' in older translations, which the Mosaic law prohibited charging to fellow Israelites.
☩Mosaic Prohibition
The law forbade Israelites from charging interest on loans to fellow Israelites who were poor. This applied to money, food, or any other necessity. The purpose was to prevent exploitation of those in need and to maintain covenant solidarity within the community. Lending was to be an act of compassion, not profit.
☩Foreigners and Commerce
The restriction did not apply to foreigners: 'Unto a stranger thou mayest lend upon usury.' This distinction recognized that commercial loans to foreign merchants were different from charitable loans to impoverished neighbors. Interest in such transactions was a normal part of international trade.
☩Prophetic Condemnation
The prophets and psalmists condemned those who charged interest to the poor as wicked. Ezekiel listed usury among the sins bringing judgment. The ideal righteous man 'hath not given forth upon usury, neither hath taken any increase.' This concern for economic justice pervades the prophetic message.
Related Verses12 mentions
References
- 1.John McClintock and James Strong, "Interest," in Cyclopedia of Biblical, Theological and Ecclesiastical Literature, vol. IV (Harper & Brothers, 1867–1887).