KING JAMES BIBLE DICTIONARY

The sum paid for the use of money, hence interest; not, as in the modern sense, exorbitant interest. The Jews were forbidden to exact usury (Leviticus 25:36, 37), only, however, in their dealings with each other (Deuteronomy 23:19, 20). The violation of this law was viewed as a great crime (Psalms 15:5; Proverbs 28:8; Jeremiah 15:10). After the Return, and later, this law was much neglected (Nehemiah 5:7, 10).

Interest, not necessarily unreasonable exaction, but all income from loans.

Forbidden
Exodus 22:25; Leviticus 25:35-37; Deuteronomy 23:19; Psalms 15:5; Proverbs 28:8; Jeremiah 15:10; Ezekiel 18:8; Ezekiel 18:13; Ezekiel 18:17; Ezekiel 22:12

Exaction of, rebuked
Nehemiah 5:1-13

Authorized, of strangers
Deuteronomy 23:20

Exacted by Jews
Ezekiel 22:12

Just men innocent of the vice of requiring
Ezekiel 18:8
Interest; Money

(The word usury has come in modern English to mean excessive interest upon money loaned, either formally illegal or at least oppressive. In the Scriptures, however the word did not bear this sense, but meant simply interest of any kind upon money. The Jews were forbidden by the law of Moses to take interest from their brethren, but were permitted to take it from foreigners. The prohibition grew out of the agricultural status of the people, in which ordinary business loans were not needed. and loans as were required should be made only as to friends and brothers in need.

ED.) The practice of mortgaging land, sometimes at exorbitant interest, grew up among the Jews during the captivity, in direct violation of the law. (Leviticus 25:36,37; Ezekiel 18:8,13,17) We find the rate reaching 1 in 100 per month, corresponding to the Roman centisim' usur' , or 12 per cent. per annum.

U'SURY, noun s as z. [Latin usura, from utor, to use.]

1. Formerly, interest; or a premium paid or stipulated to be paid for the use of money.

[Usury formerly denoted any legal interest, but in this sense, the word is no longer in use.]

2. In present usage, illegal interest; a premium or compensation paid or stipulated to be paid for the use of money borrowed or retained, beyond the rate of interest established by law.

3. The practice of taking interest. obsolete