Chaloner Grenville Alabaster

Name: 1911 Encyclopædia Britannica
Author: Chaloner Grenville Alabaster

1911 Encyclopædia Britannica (1911)

Summary

“1911 Encyclopædia Britannica”, published in 1911, is a work by Chaloner Grenville Alabaster. It explores elements such as lender, lending and borrower.

Quotes from 1911 Encyclopædia Britannica (Chaloner Grenville Alabaster)

Chaloner Grenville Alabaster, 1911 Encyclopædia Britannica (1911)

“ Practically every form of investment in which a man is capable of indulging involves the lending and borrowing of money, the interest exacted being the profit which the lender receives for the use of his capital. The existence of the professional lender, as apart from the ordinary facilities for borrowing money on good security, is obviously due to the fact that it is not every borrower who is in a position to give good security for a loan. ”

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Source: Wikisource

Chaloner Grenville Alabaster, 1911 Encyclopædia Britannica (1911)

“ The question whether any interest is payable or not, and also the amount of such interest, depends on whether the parties to the transaction have expressly or impliedly agreed to the payment of interest by the borrower; for apart from such agreement no interest can lawfully be demanded on a loan. Although in general there is no limit on the amount of interest which a borrower may agree to pay, equity has always been ready to grant relief from unconscionable bargains. ”

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Source: Wikisource

Chaloner Grenville Alabaster, 1911 Encyclopædia Britannica (1911)

“ Where the security is bad the market is narrowed; the individuals who are prepared to lend the money on merely personal security require a high rate of interest.
The first people to practise the profession of money-lending in England regularly were the Jews, and the business has remained largely in their hands, though they are in the habit of trading under assumed names. ”

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Source: Wikisource

Chaloner Grenville Alabaster, 1911 Encyclopædia Britannica (1911)

“ The act further provides that if any one for the purpose of earning interest, commission, reward or other profit sends or causes to be sent to a person whom he knows to be an infant any circular or other document which invites the person receiving it to borrow money or to apply to any person or at any place with a view to obtaining information or advice as to borrowing money, he shall be liable, if convicted on indictment, to imprisonment with or without hard labour, or to a fine, or to both imprisonment and fine. ”

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Source: Wikisource

Chaloner Grenville Alabaster, 1911 Encyclopædia Britannica (1911)

“ The English people on the other hand were not so prone to foster the money-lending business. Sections 10 and 11 of Magna Carta provided that when a person died owing money to a Jew no interest should accrue during the minority of the heir, and further that the widow should be entitled to her dower, and any children who were minors should be provided with necessaries before the repayment of the loan. ”

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Source: Wikisource

Chaloner Grenville Alabaster, 1911 Encyclopædia Britannica (1911)

“ If a money-lender fails to register himself, or if he carries on a money-lending business otherwise than in his registered name, or in more names than one, or elsewhere than at his registered address, he is liable on summary conviction to a fine, not exceeding one hundred pounds. ”

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Source: Wikisource

Chaloner Grenville Alabaster, 1911 Encyclopædia Britannica (1911)

“ The Norman and Angevin kings were fully alive to the advantages which accrued to the people through borrowing at usury from the Jews, but they were also alive to the advantages which they themselves were able to reap by extorting from the Jews the wealth which the latter had acquired from the people. The Jews were regarded as the king’s serfs, and squeezing them was but a popular form of taxing the people. ”

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Source: Wikisource

Chaloner Grenville Alabaster, 1911 Encyclopædia Britannica (1911)

“ Some of the states have usury laws giving relief to borrowers in cases where circumstances have compelled them to agree to extortionate rates; but other states have no such laws, except that a contract in writing is invariably required in all cases where the “legal rate” is exceeded. ”

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Source: Wikisource

Chaloner Grenville Alabaster, 1911 Encyclopædia Britannica (1911)

“ Moreover, by section 5 of the Money-lenders Act 1900, where any proceedings are taken against the senders of these circulars to infants, if it is proved that the person to whom the document was sent is an infant, the person charged will be deemed to have been cognisant of the fact unless he proves that he had reasonable grounds for believing the infant to be of full age. ”

Chaloner Grenville Alabaster

Summary

Quotes from 1911 Encyclopædia Britannica (Chaloner Grenville Alabaster)

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