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Day: September 25, 2011

Usury

Usury

Did you know the Roman Catholic Church once excommunicated members of both laity and clergy for practicing usury? In the Third Council of the Lateran (1179), usury was declared heretical. In 1745, Pope Benedict XIV issued the encyclical, Vix Pervenit, condemning the practice. The papal prohibition on usury meant that it was a sin to charge interest on a money loan. As set forth by Thomas Aquinas, the natural essence of money was as a measure of value or intermediary…

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