Henry VIII brought usury to England

The canons of the Roman Catholic Church prohibited 
all usance or interest. The great French jurisconsult, 
Pothier, decides that the minutest coin beyond the sum 
lent, if added to the loan when repaid, constituted usury, 
and stamped the contract with crime. A legal rate of 
interest was first fixed in England in 1545, by the 
statute 37 Henry VIII. It was repealed by 5 and 6 
Edward VI., but restored by Elizabeth. The rate was 
ten per cent, for a year. It was reduced by the 21 
James I., c. 27, to eight per cent.

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