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Usury in Early Mediaeval India (A.D. 400–1200)*

Published online by Cambridge University Press:  03 June 2009

Extract

I. Attitudes towards Usury

In many ancient societies the very idea of taking interest was considered to be reprehensible and immoral. The term usury, which comes to be applied to lending at rates above the legal rates, has a tinge of something socially and religiously undesirable about it. In early and mediaeval Indian society it is not always possible to draw a precise line between usury and interest, and hence the subject can be best studied by examining the data on interest and money-lending.

Type
Legal Cultures and Social Change
Copyright
Copyright © Society for the Comparative Study of Society and History 1965

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References

page 56 note 1 Baudhāyana Dharmasītra (Kasi Sanskrit Series, No. 104) (Benares, 1934), I. 10. 22.

page 56 note 2 I. 10. 25.

page 56 note 3 X. 5–6.

page 56 note 4 VIII. 140.

page 56 note 5 II. 41–2.

page 56 note 6 vṛddhistu yoktā dhānyasya vārdhuṣaṃ tadudāhṛtam, IV. 110, quoted in HDS, III, 417.

page 56 note 7 I. 107.

page 56 note 8 I. 109–10.

page 56 note 9 XI. 12.

page 56 note 10 XI. 2.

page 56 note 11 SBE, xxxiii, 320.

page 56 note 12 On Manu, VIII. 152.

page 56 note 13 Quoted in HDS, iii, 423, fn. 691.

page 56 note 14 Vas., II. 40.

page 56 note 15 Baudhāyana Dharmasūtra, I. 10. 25.

page 56 note 16 Vas., II. 46.

page 56 note 17 I. 10. 24.

page 56 note 18 I. 10. 26.

page 56 note 19 X. 5–6.

page 56 note 20 Gautama is considered to be one of the earliest lawgivers, if not the earliest. It has been shown by me elsewhere (Sūdras in Ancient India, Delhi, 1958, pp. 83–4) that he should be dated much later on the basis of his provisions on social matters. His regulations regarding debt confirm my earlier view, and it seems that these were interpolated into Gautama‧s law-book some time in Gupta or post-Gupta times. His enumeration of six kinds of interest are not found in any law-book earlier than that of Bṛhaspati, whose section on debt is the most developed. Again, his provision that a brāhmana can lend (money?) at interest is not found in this form in any early law-book; on the other hand it is found in post-Gupta texts which allow this to a brāhmana only in distress.

page 56 note 21 X. 117.

page 56 note 22 VIII. 410.

page 56 note 23 I. 1 1 1 .

page 56 note 24 Kātyāyana Smṛti, ed. and tr. P. V. Kane (Poona, Oriental Book Agency), I. 111, verse 423. Here the term dvija is taken by Kane as a member of three higher castes, but the word brāhmana would suit the context better.

page 59 note 25 Quoted in Vācaspatyam (Chowkhambamba Sanskrit Series), III, 2159.

page 59 note 26 Ibid.

page 59 note 27 Ibid.

page 59 note 28 Alberuni's India, ed. & tr., Sachau, Edward C. (London, 1910), II, 150Google Scholar.

page 59 note 29 Baudhāyana Dharmasūtra, I. 10. 22.

page 59 note 30 XII. 29.

page 59 note 31 I. 10. 22.

page 59 note 32 XII. 29.

page 59 note 33 II. 51.

page 59 note 34 III. XI.

page 59 note 35 Manu, VIII. 140, Yaj., II. 37; Nar., I. 99; Bṛ., XI. 3.

page 60 note 36 HDS, III, 421.

page 60 note 37 Quoted in Caṇḍeśvara Ṭhakkura's Gṇhastharatnākara (Bibliotheca Indica) (Calcutta, 1928), p. 447.

page 60 note 38 HDS, III, 420–1.

page 60 note 39 , III. 11.

page 60 note 40 II. 38.

page 60 note 41 Mitākṣarā on Yāj., II. 38.

page 60 note 42 Verses 505–6.

page 60 note 43 I. 109.

page 60 note 44 II. 48.

page 61 note 45 Manu, VIII. 142; Viṣ., VI. 2; Yāj., II. 37; Nār., I. 100.

page 61 note 46 Ibid.

page 61 note 47 Sharma, R. S., Some Economic Aspects of the Caste System (Patna, 1952), pp. 1621Google Scholar.

page 61 note 48 Sarasvatīvilāsa quoted in DK, I, 620.

page 61 note 49 Ibid.

page 61 note 50 SII, III, pt. 3, 237.

page 61 note 51 Ibid., 237.

page 61 note 52 21. SII, III, pt. 3, 236.

page 61 note 53 Ibid., 237.

page 61 note 54 Ibid., 274.

page 62 note 55 SII, III , pt. 3, 273.

page 62 note 56 El, XI, 228–9.

page 62 note 57 puttakkam was the interest charged on 1 ilakkāsu for one month, and one ilakkasu was equal to 7puttakkam. SII, III, pt. 3, 239.

page 62 note 58 El, XII, 273.

page 62 note 59 Gṛhastharatnākara, p. 447.

page 62 note 60 Ibid.

page 62 note 61 Ed. and tr. E. Sachau, II, 150.

page 62 note 62 DK, I, 608.

page 63 note 63 Nar., I. 106–7

page 63 note 64 XIII. 24.

page 63 note 65 Manu, VIII, 155.

page 63 note 66 Verse 509.

page 63 note 67 XII. 34–5.

page 63 note 68 VIII. 156.

page 63 note 69 DK, I, 625.

page 63 note 70 XI. 4–9.

page 64 note 71 DK, I, 625.

page 64 note 72 II. 44–7.

page 64 note 73 XII. 36.

page 64 note 74 VIII. 151.

page 64 note 75 VI. 11–15

page 64 note 76 I. 106–7.

page 64 note 77 XI. 13–5.

page 65 note 78 Verse 510–2.

page 65 note 79 DK, I, 634.

page 65 note 80 VI. 16.

page 65 note 81 XI. 16.

page 65 note 82 DK, I, 609.

page 66 note 83 tule tu dvigunaṃ dhānyarn triguṇameva vardhate. DK, I, 608.

page 66 note 84 Vivādaratnākara quoted Ibid., 608–9.

page 66 note 85 Vivādacandra of Misarumiśra quoted Ibid. It seems that the principal is to be realised in addition to this.

page 66 note 86 Ibid.

page 66 note 87 Ibid.

page 66 note 88 cakrakālavṛddhiḥ kāritākāyikāśikhādhibhogaśca. XII. 31–2 quoted in DK, I, pt. 2, 607.

page 66 note 89 VIII. 154.

page 66 note 90 II. 87–89 quoted in DK, I, pt. 2, 624–5.

page 66 note 91 XI. 4–9.

page 67 note 92 Ibid.

page 67 note 93 XI. 11.

page 67 note 94 Verse 502.

page 67 note 95 Verse 503.

page 67 note 96 Verse 504.

page 67 note 97 DK, I, pt. 2, 625.

page 67 note 98 Ibid.

page 67 note 99 Ibid.

page 67 note 100 Ibid.

page 68 note 101 Ibid.

page 68 note 102 DK, I, pt. 2, 634.

page 68 note 103 Vivādaratnākara quoted Ibid.

page 68 note 104 kāyakarmaṇā saṃśodhyā. DK, I, pt. w, 616.

page 68 note 105 Ibid., 617.

page 68 note 106 Gautama-Mitākṣarā quoted Ibid., 607.

page 68 note 107 Ibid., 617.

page 68 note 108 kāyikā kāryakarmaṇā, DK, I, pt. 2, 635.

page 69 note 109 XI. I.

page 69 note 110 I. 129.

page 69 note 111 XI. 7–8.

page 69 note 112 Bṛ., XI. 72.

page 69 note 113 I. 128.

page 69 note 114 Bṛ., quoted in DK, I, pt. 2, 350.

page 69 note 115 IV. 127 (quoted in DK, I, pt. 2, 650).

page 69 note 116 I. 125.

page 69 note 117 XI. 7–8.

page 69 note 118 Verse 522.

page 69 note 119 XI. 34.

page 69 note 120 Bṛ., XI. 34.

page 69 note 121 Bṛ., XI. 23.

page 70 note 122 Verse 516.

page 70 note 123 XI. 32.

page 70 note 124 Ibid., XI. 33.

page 70 note 125 SBE, xxxiii. 73 fn.

page 70 note 126 DK, I, pt. 2, 658.

page 70 note 127 Ibid., 731.

page 70 note 128 El, xxv, no. I, 11, 10–21.

page 71 note 129 Ibid.

page 71 note 130 The meaning of the I. 19 is not clear, EI, XXV, p.3.

page 71 note 131 JASB, xix, 454–6.

page 71 note 132 EI, ix, 91–4.

page 71 note 133 SII, III, pt. 3, 227.

page 71 note 134 Ibid., 229.

page 71 note 135 SII, III, pt. 3, 273.

page 71 note 136 Ibid.

page 72 note 137 Ibid., 363.

page 72 note 138 SII, III, pt. 3, 263.

page 72 note 139 R.D.R. Sahni, El, xix, no. 7.

page 72 note 140 El, xix, no. 7.

page 72 note 141 Ibid., Document nos. II, IV, VIII & X.

page 72 note 142 Ibid., Document no. II.

page 72 note 143 Ibid., Document nos. IV and VIII.

page 72 note 144 Ibid.

page 73 note 145 . III. 11.

page 73 note 146 Nār., I 108; Kātyā., verse 505.

page 73 note 147 Nār., I 109; Kātyā., verse 505.

page 73 note 148 Nār., II. 36.

page 73 note 149 Verse 508.

page 74 note 150 Verse 511. Here the term used is madya and not āsava as in verse 508.

page 74 note 151 II. 49.

page 74 note 152 Quoted in DK, I, pt. 2, 715.

page 74 note 153 Quoted in DK, I, pt. 2, 695.

page 74 note 154 Verse 591.

page 74 note 155 155 Ibid., 724.

page 74 note 156 VIII. 176.

page 74 note 157 Manu, VIII. 177.

page 74 note 158 Ibid., VIII. 178.

page 75 note 159 Bẵ. quoted in DK, I, pt. 2, 707

page 75 note 160 Bẵ. quoted in Vivādaratnākara quoted Ibid. 726.

page 75 note 161 III. 11.

page 75 note 162 Gaut. XII. 33; Yāj. II 44.

page 75 note 163 Nā., I. 115.