The Mosaic law required that when an Israelite needed to borrow, what he asked was to be freely lent to him, and no interest was to be charged, although interest might be taken of a foreigner (Ex. 22:25; Deut. 23:19, 20; Lev. 25:35-38). At the end of seven years all debts were remitted. Of a foreigner the loan might, however, be exacted. At a later period of the Hebrew commonwealth, when commerce increased, the practice of exacting usury or interest on loans, and of suretiship in the commercial sense, grew up. Yet the exaction of it from a Hebrew was regarded as discreditable (Ps. 15:5; Prov. 6:1, 4; 11:15; 17:18; 20:16; 27:13; Jer. 15:10).
Limitations are prescribed by the law to the taking of a pledge from the borrower. The outer garment in which a man slept at night, if taken in pledge, was to be returned before sunset (Ex. 22:26, 27; Deut. 24:12, 13). A widow's garment (Deut. 24:17) and a millstone (6) could not be taken. A creditor could not enter the house to reclaim a pledge, but must remain outside till the borrower brought it (10, 11). The Hebrew debtor could not be retained in bondage longer than the seventh year, or at farthest the year of jubilee (Ex. 21:2; Lev. 25:39, 42), but foreign sojourners were to be "bondmen for ever" (Lev. 25:44-54).
Step 1 - Create an account or log in to start your free trial.
Starting your free trial of Bible Gateway Plus is easy. You’re already logged in with your Bible Gateway account. The next step is to enter your payment information. Your credit card won’t be charged until the trial period is over. You can cancel anytime during the trial period.
Click the button below to continue.
Step 1 - Create an account or log in to start your subscription.
You’ve already claimed your free trial of Bible Gateway Plus. To subscribe at our regular subscription rate of $3.99/month, click the button below.
Now that you've created a Bible Gateway account, upgrade to Bible Gateway Plus, the ultimate online Bible reading & study experience!
Bible Gateway Plus equips you to answer the toughest questions about faith, God, and the Bible. There's no software to install; it's all integrated seamlessly into your Bible Gateway experience. Try it free for 30 days!