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 Posted: Wed Nov 02, 2005 11:14 am Subject: A Little Debt History |
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I read this recently and just thought I'd share it:
| Quote: | | In ancient nations debt was associated with slavery because the insolvent debtor and his household were in many cases turned over to the creditor to perform compulsory services. In early Rome the insolvent was given into custody of the creditor for 60 days prior to his sale as a slave, subject to such treatment as pleased the creditor. That arrangement was mitigated in 494 B.C. by the first of the uprisings of the Roman people; turbulence in Rome afterward was to a large extent occasioned by the desire to restrain creditors. In Greece the reforms of Solon had a similar origin. In Palestine, every 50th year—the year of jubilee—Jewish debtors were freed and their obligations were canceled. Imprisonment for debt, which once crowded prisons, was ended in theory in England and the United States by laws enacted in the 19th cent. The laws of bankruptcy are designed to apply the resources of debtors to their debts and thereafter to remove such legal obligations. |
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shopaholic5
Joined: 07 Sep 2005
Posts: 275
Debtcc Points: 5629
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| Posted: Wed Nov 02, 2005 2:07 pm Subject: |
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Sarah,
Talking on this subject, I will suggest you reading some books of Medieval India. This country was in the clutches of debt for many ages and had been ruled and oppressed for many reasons.
The farmers had to pay heavy taxes on their land and failing to the geographical conditions, they were not able to produce on their field. This resulted in even more taxes and due to this; they had to sell everything they had.
I read about many Indian freedom fighters and revolutionists who freed this country from the foreign rule. If you visit a library and have interest towards Indian history, I recommend going through them. You will learn the true face of struggle and the origin of debt.
Regards
Roxette
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roxette
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| Posted: Fri Nov 04, 2005 10:53 am Subject: |
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wow I didn't realize that...that sounds really interesting. thanks!
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shopaholic5
Joined: 07 Sep 2005
Posts: 275
Debtcc Points: 5629
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