What is the sin of usury?
[Some time] ago in our Wednesday evening Bible class, the subject of the sin of usury came up. I have to confess that I was not adequately prepared to discuss the subject in detail that evening and as a result could not answer everyone’s question on the subject immediately. Since that time, however, I have given some thought to the subject and am better prepared as to what the Bible has to say in regard to this sin.
What is Usury?
Usury is the expression that was used in King James English to describe the practice of taking interest and it is so translated in all of the modern versions. However, since I am using the KJV, I will continue talking about it as usury. Usury is discussed in several places in the Old Testament. The passage that we were studying where the sin was mentioned that occasioned this question is found in Psalm 15. This psalm is discussing the one who is in fellowship with God. One of the attributes of the person who is in fellowship with God is found in verse 5 which says, “He that putteth not out his money to usury, nor taketh reward against the innocent.” The background to this particular sin is God’s prohibition of usury among the Jewish nation. There are several passages within the Old Testament that discuss this sin.
Exodus 22:25 is the first scripture in the Old Testament that mentions the sin of usury. It says, “If thou lend money to any of my people that is poor by thee, thou shalt not be to him as an usurer, neither shalt thou lay upon him usury.” Notice that God specifies “to my people.” We will see in some of the other passages that the prohibition only applied to the people of God, the Jews, and those who were among them, and not to the other nations around them. Notice also that the prohibition against usury was clearly to protect the poor. Poor people are at a special disadvantage when it comes to money. To loan money to them and then lay upon them the additional burden of paying back interest is to expect something of them which God simply doesn’t think they should be forced to do.
This is reflected also in Leviticus 25:35-37 which says, “And if thy brother be waxen poor, and fallen in decay with thee; then thou shalt relieve him: yea, though he be a stranger, or a sojourner; that he may live with thee. Take thou no usury of him, or increase: but fear thy God; that thy brother may live with thee. Thou shalt not give him thy money upon usury, nor lend him thy victuals for increase.” Notice in this passage that God is still referring to a “brother,” that is, a member of the Jewish nation, whether by birth or by proselytization. The obligation was that they were to take care of this poor person. They were not to charge usury. They were also not to sell food for profit. God wanted the children of Israel to take care of each other because they were supposed to love each other as brethren.
In Deuteronomy 23:19, 20 we read “Thou shalt not lend upon usury to thy brother; usury of money, usury of victuals, usury of any thing that is lent upon usury: Unto a stranger thou mayest lend upon usury; but unto thy brother thou shalt not lend upon usury: that the LORD thy God may bless thee in all that thou settest thine hand to in the land whither thou goest to possess it.” Again the prohibition of usury is expanded in these verses to include money, food, nor any other thing on which one could charge interest. It is in this context not even limited to the poor, but is applicable to all Israelites. Notice that these verses also make it clear that God is not talking about someone outside the fellowship of Israel. Usury may be taken from someone who is a stranger in the complete sense of the term, that is, a foreigner. However, to a brother, a fellow Jew, no usury could be taken.
In Ezekiel 18, the prophet discusses the fact that each individual is responsible for his or her own sin. He clearly states that the son does not bear the iniquity of the father and neither does the father bear the iniquity of the son. In setting forth this principle, he shows how those who do righteousness will be accounted righteous and those who do wickedness will reap wickedness. He sets forth some of those wicked things that evil people do to merit punishment in verses 10-13. He says, “If he beget a son that is a robber, a shedder of blood, and that doeth the like to any one of these things, And that doeth not any of those duties, but even hath eaten upon the mountains, and defiled his neighbor’s wife, hath oppressed the poor and needy, hath spoiled by violence, hath not restored the pledge, and hath lifted up his eyes to the idols, hath committed abomination, hath given forth upon usury, and hath taken increase: shall he then live? He shall not live: he hath done all these abominations; he shall surely die; his blood shall be upon him.” It is significant that right along side of robbing, murder, adultery, violence, and lying we find the sin of usury. It is clearly something that God does not like.
Now all of these passages are from the Old Testament. The natural question arises in regard to the New Testament. Is usury still considered a sin by God today under the New Covenant? There is no doubt in my mind that God still considers this practice sinful. Paul wrote in Romans 3:20 “Therefore by the deeds of the law there shall no flesh be justified in his sight: for by the law is the knowledge of sin.” The Old Law gives us the knowledge of sin. It defines sin for us. Part of that definition is the sin of usury. However the Old Law was limited and could not provide positive justification for righteous living. Only the New Covenant can provide that through the atoning death of Christ. Paul reiterates in Romans 7:7 “What shall we say then? Is the law sin? God forbid. Nay, I had not known sin, but by the law: for I had not known lust, except the law had said, Thou shalt not covet.” Paul thus gives an example by what he means when he says that the law defines sin. When the Old Law says, “Thou shalt not” then God is defining sin for us. Usury definitely fits into that category and we must acknowledge that it is sin today.
But this is also borne out by New Testament principles as well. We don’t see this so much in a negative command, but we do see it practiced in a positive way. God’s people are to take care of each other. This was God’s intention in forbidding usury under the Old Law. He wanted his people to love one another and take care of one another. When we do this, usury does not fit into the equation. We read in the early church in Acts 4:32 “And the multitude of them that believed were of one heart and of one soul: neither said any of them that ought of the things which he possessed was his own; but they had all things common.” This verse is not reflective of a command by God to give to the poor (God does command that, but not in this verse). This verse is reflective of the command given by God to love one another! When we love one another, we are not going to hold back anything that we have from those who need it. We are going to take care of one another. Usury is inconsistent with the principle of loving our brethren. When we love one another and we see each other’s needs, we are not going to think, “Now, how can I come out on top of this situation. How am I going to be able to make a profit out of this?” Such is the furthest thing from the loving Christian’s mind.
Let’s also notice 1 Timothy 6:17, 18. “Charge them that are rich in this world, that they be not highminded, nor trust in uncertain riches, but in the living God, who giveth us richly all things to enjoy; that they do good, that they be rich in good works, ready to distribute, willing to communicate.” The ideas of “doing good,” “being rich in good works,” “ready to distribute,” and “willing to communicate,” involve readiness to give to those who are in need without thought of personal reward. Paul continues in verse 19 that such givers can expect their reward to be in heaven: “Laying up in store for themselves a good foundation against the time to come, that they may lay hold on eternal life.” While these don’t gain any interest on earth, they will certainly when they get to heaven. Finally, the verse which seals the idea that taking usury of a brother is a sin is 1 John 3:17 “But whoso hath this world’s good, and seeth his brother have need, and shutteth up his bowels of compassion from him, how dwelleth the love of God in him?” Taking usury certainly is included in what John is talking about when he speaks of shutting up the “bowels of compassion.” Lending money through usury is without doubt an uncompassionate way of helping a brother in need. He could get that offer from anyone! But the brother who loves and sees the need and gives without thought of reward is the brother who practices compassion. This is the brother in whom dwells the love of God. Today, one could certainly commit the sin of usury, but let it not be said among our fellowship that we exact usury of our brother.