[241] Though by 37 Hen. VIII c. 9, sec. 3 (_Stats. of Realm_, iii,
996) interest up to 10 per cent. per annum was permitted, all interest
was prohibited by the 5 & 6 Ed. VI, c. 20, sec. 2 (_Stats. of Realm_,
iv, Pt. i, 155). Interest is here dubbed usury, "a vice most odyous
and detestable." Interest up to 10 per cent. was, however, again made
lawful by the 13 Eliz. c. 8, sec. 4 (_Stats. of Realm_, iv, Pt. i,
542) which, however, stigmatizes usury as sinful.
[242] Examples are, _Vestry Minutes of St. Margaret, Lothbury_, 32
(Gift of L20 in 1595 to be employed in wood and coal for the use of
the poor. A committee of four was appointed to invest and make sales.
See their account for 1596, p. 34). _The Westminster Tobacco Box_, Pt.
ii, 22 (One of the overseers of St. Margaret's to keep a gift of L42
"untill the same may be bestowed upon somme good bargaine as a lease
or somme other such like commoditie w[hi]ch may yeelde a yerely rente
to the pore." 1578). Cf. _St. Bartholomew, Exchange, Acc'ts Books_, 3
ff., where in 1598, and regularly in subsequent years, appears the
item: "Alowed to this account for the geft of the Lady Wilfordes xx li
for the pore xx[s]." Also another item, likewise of 20s. yearly, on
Mr. Nutmaker's L20--in other words, 10 per cent. in each case every
year.
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