| The CROWN of CHRIST Understanding the Times in the Light of Scripture |
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Contemporary people, being virtually brainwashed by totalitarianism, speak of "the
government" as if it means exclusively the civil government. But God has
established FOUR GOVERNMENTS that need to show mutual respect to each other:
individual self-government, family government, Church polity and the civil state.
Whenever any of these fail to glorify God and honor Christ, they bring trouble upon
us all.
Scott Rocca Box 365 Gratz PA 17030
government" as if it means exclusively the civil government. But God has
established FOUR GOVERNMENTS that need to show mutual respect to each other:
individual self-government, family government, Church polity and the civil state.
Whenever any of these fail to glorify God and honor Christ, they bring trouble upon
us all.
Scott Rocca Box 365 Gratz PA 17030
| Alphabetical List of Past Articles |
| CURRENT ARTICLE - Sep 22, 2008 John Calvin's answer to the Financial Crisis |
LENDING AT INTEREST IS NOT A SIN
We must not condemn all lending at interest as
sinful "usury" because of any one Bible verse. Instead,
we must think through the Biblical perspective on the
righteous use of money.
Suppose that their is a rich man who owns many
acres and properties, and another rich man with less
real estate but more money available for use. If the
first man asks to borrow from the second, it would not
be wrong for them to draw up a contract stating that
some of the first man's land will be mortgaged as
collateral. Until the debt is payed, the lender may use
the land. If the borrower never repays, the lender can
take the land. This lender doesn't get anything out of
the land except the agreed upon value of the money
that the borrower took.
Now, what if no land is involved? Some would
condemn the mere lending of money as "usury". But if
the lender above can lawfully have the use of the
mortgaged land - perhaps even collecting rent on it or
seizing it in the end, then how can it be wrong to
simply take interest instead? Let's not play games
with words, but fear God.
However, just because we don't condemn all
interest, let's not pretend that all debt is allowed with
no exceptions. Lending at interest may sometimes be
allowed, but it is not righteous or lawful to make one's
living purely as a "lender".
In addition, we should heed seven warnings about
debt and interest:
We must not condemn all lending at interest as
sinful "usury" because of any one Bible verse. Instead,
we must think through the Biblical perspective on the
righteous use of money.
Suppose that their is a rich man who owns many
acres and properties, and another rich man with less
real estate but more money available for use. If the
first man asks to borrow from the second, it would not
be wrong for them to draw up a contract stating that
some of the first man's land will be mortgaged as
collateral. Until the debt is payed, the lender may use
the land. If the borrower never repays, the lender can
take the land. This lender doesn't get anything out of
the land except the agreed upon value of the money
that the borrower took.
Now, what if no land is involved? Some would
condemn the mere lending of money as "usury". But if
the lender above can lawfully have the use of the
mortgaged land - perhaps even collecting rent on it or
seizing it in the end, then how can it be wrong to
simply take interest instead? Let's not play games
with words, but fear God.
However, just because we don't condemn all
interest, let's not pretend that all debt is allowed with
no exceptions. Lending at interest may sometimes be
allowed, but it is not righteous or lawful to make one's
living purely as a "lender".
In addition, we should heed seven warnings about
debt and interest:
LENDING CAN BE SINFUL IF WE DON'T DO IT RIGHTEOUSLY
1. Interest should never be collected from the poor, the needy or the miserable.
2. Lenders should not become so greedy that they refuse to give loans to the poor
who can't afford to pay interest.
3. Lenders must alway practice what Christ preached: whatever you would have
men do to you, do the same to them as well.
4. The borrower should be able to gain more from the loan than the lender, either
by trade or work.
5. Lenders and borrowers should only think a practice is good if the Bible says so;
no practice can be justified by custom or popularity.
6. Lenders must consider the good of society as well as that of themselves and their
borrowers. We should never offer loans that will eventually hurt the nation.
7. We should never charge greater interest than is allowed under the civil law of
our country; often, righteousness will require us to charge less than we legally
could.
Dr. Garnet Milne, a pastor from New Zealand, points out that the United
States would have avoided the crisis over mortgage-backed securities if our
financial executives had followed Calvin's advice. (summarized from Calvin's
Epistle 383)
1. Interest should never be collected from the poor, the needy or the miserable.
2. Lenders should not become so greedy that they refuse to give loans to the poor
who can't afford to pay interest.
3. Lenders must alway practice what Christ preached: whatever you would have
men do to you, do the same to them as well.
4. The borrower should be able to gain more from the loan than the lender, either
by trade or work.
5. Lenders and borrowers should only think a practice is good if the Bible says so;
no practice can be justified by custom or popularity.
6. Lenders must consider the good of society as well as that of themselves and their
borrowers. We should never offer loans that will eventually hurt the nation.
7. We should never charge greater interest than is allowed under the civil law of
our country; often, righteousness will require us to charge less than we legally
could.
Dr. Garnet Milne, a pastor from New Zealand, points out that the United
States would have avoided the crisis over mortgage-backed securities if our
financial executives had followed Calvin's advice. (summarized from Calvin's
Epistle 383)
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