History of the Jews

by Paul Johnson

The Jews were thus burdened with a religious law which forbade them to lend at interest among themselves, but permitted it towards strangers. The provision seems to have been designed to protect and keep together a poor community whose chief aim was collective survival. Lending therefore came under philanthropy – but you were not obliged to be charitable towards those you did not know or care for. Interest was thus synonymous with hostility. As a settled community in Palestine, of course, the Jews needed to borrow money from each other like anyone else. The Biblical record shows that the law was constantly evaded.9 The papyri from the Jewish community in Elephantine tell the same tale. Yet the religious authorities tried to enforce the law strictly. They laid down that not only the principals to a usurious transaction but any accessory committed a sin.