Elizabethan England

History

• In the 1600s laws were created that restricted the rights of jewish people
• One of those laws was that jews were not allowed to own land

Usury

• In England the legal amount of interest was about 4-12% . Meanwhile 24-48% was considered usury
• Usury is loaning money at very high interest rates
• Usury was considered wrong in the 1600s

Henry VII

• Under Henry VII, a law was passed allowing interest rates up to 10%, so the borrowers could pay the money back. instead of banning interest, he set it at a low enough level so the Jews would be repaid

Edward VI

• After Henry VII died, his son Edward VI took his place. Edward repealed his father's law, not allowing interest for money lending of any kind. The result of this was a hardship.
• A black market of very high interest began because of this.

Elizabeth I

• In Elizabethan England Jews were restricted to two occupations, money lending and as peddlars
• During Elizabeth's time the highest interest was 14%

The End

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