Marxism Unmasked from Delusion to Destruction.pdf 7471KB

could not use the Gospels and the New Testament—they had to go back
to the law of Moses. There the>' found a passage referring to the taking of
interest on loans lent to Jeus and not to Gentiles. Later at the beginning
of the twelfth centur\' the theologians found a passage in the Gospels'
which could also be interpreted as being against interest caking. This,
however, did not refer specifically to interest taking; it said, "lend, hoping
for nothing again." I think that translanon is correa.This raised a pfx>blem
which we needn't go into, but which ^-as contested b\' theologians and
historians of law.
There was on the one hand the prohibition of the Church—the
Canon Law—which the Church was very eager to entoire—but there was
on the other hand realirv. the practice of the people. Loam wrrr needed.
In the countries under the powrr of the Church, both rrligious and
secular, modern banking was vlo\%ly de\rloping Theologum began to
study the question of intereM to determine whether or not there \%rTr
reasons to justify the taking of interest These studies \%Ttr the beginnini;
of economic law vrrsus canomstic doctrine The\ discimcd many issuc>.
and at least eliminated the crmneou* beliet' thai the lender extra*, tx
something unjust fn>m the bt>rT\mrr b\ earning intenru on nH>ne>- that is
lent. Nevertheless that idea i\ still timnd in nuny Ati>erKan textbooks.
There was. howrvrr. another question and that question vk-as ihi* It
you increase the supply of mone> that is available for lending, then >\ni
bring about on the mone\ iiurket (the nurket tor short-ferm kvtns) a
tendency toward a drx^p in the rate i>l mtcrra ll interrsi n not the rrs*ard
tor giving a man the use of a «.ertJin «um of iTH>ne> but in fact depends on
the diwt>unt of prevent giHxK against tuturr gotxii (and is indcpciKient o(
whether the supply of mone> i* greater or snuller). ho^-. then, and whv
does the initial dn>p in the rate i»l interest, laused b> an incmsc in the
supply of nu>nc>. get resrrvd' In other vk\»rxis, notvkitKsundmg lh»
iiKTcascd suppiv of mones. what i* the paxrvs that re -nublishes a rate
ot intcroi that reflects pet>plc'\ rvaluatiom ctwuerning the diHOunt of
future against present gtH>d%' St>me pei>ple denied the extttmcc of thn
phenomenon Some people \implv decbred that if >\hi increase the
.imoiint of nmnev or nMmc\ \ulwtitutes \x>u i.in bring about a pixigrrssive
tendency toward a further and further dn>p in the rate of intrtrst until
I jLukr VI. .^S. King Unto Vrru«>n "But Wrox \r \ki%u mrtmrv and do |podL and Imd.
hoping li>r noching ajuin " - Fd |