ZIPPY CATHOLIC, a blogger who was tragically killed in a car accident last fall, left behind an impressive work on the subject of interest-bearing loans.

In Usury FAQ, or, Money on the Pill, he explained what is, and what is not, immoral in the realm of lending. It is a thoughtful piece, followed by interesting discussion in the comments section. He explains, for instance, why credit card debt is wrong (for the lender, not the borrower), but a home mortgage is not necessarily.

Understanding usury requires an understanding of how the nature of some contracts differs, fundamentally and categorically, from the nature of others. Usury is not a matter of the same kind of contract differing only by ‘excessive interest’. Usurious contracts constitute a kind of contract which is intrinsically immoral by its very nature.  This FAQ is intended to help people understand what usury is – and is not – and answer many of the questions which naturally arise.

— Comments —

Terry Morris writes:

Zippy (RIP) had many many insights useful and valuable to traditionalists. Although I think he always shied away from labeling himself a “traditionalist,” politically and religiously, for fear of being lumped in with persons who claim to be such, but in fact are not. The Usury FAQ is very good and useful to its purpose, as you say, but my recollection is that Zippy (writing in those days as Matt) was almost solely responsible as well for discovery and development of the UE (unprincipled exception), so often referred to at VFR, which we all had experienced in our own lives, but were unable to articulate as a principle of right-Liberalism. He at least, I think, introduced it at VFR.

Zippy introduced me (and many others) to the concept of Motte & Bailey Liberalism as well. Which is, in short, a bait-and-switch style of argument where a feminist, say, will retreat to the safety of the Motte claiming Feminism “merely strives for female equality, and how can anyone oppose that?” when in a pinch, while in the real world we all live and work and breathe in (the Motte) Feminism is a radical ideology seeking, in fact, female superiority, destruction of male authority, destruction of the nuclear family and so on. The Motte & Bailey principle doesn’t just apply to Feminism, mind you; I merely cite it as one example among many in which the tactic is used in argumentation.

In any case, sorry I ventured off topic. Zippy’s untimely death was indeed tragic and unexpected. He will be, and is, sorely missed from this end. Same with our old friend, Lawrence Auster.

Laura writes:

I was sorry to hear of his death.

Thank you to Dean Ericson for reminding me of Zippy’s work on this subject.

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