Interesting facts about loans

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  1. The first loans began to be issued long before our era. For example, in the laws of the king of Babylon Hammurappi, who presumably ruled in 1793-1750. BC e., there is an article that a hopeless debtor could give his own wife, son or daughter into bondage. They had to work off the debt for three years, after which they received freedom.
  2. Translated from the Greek word "mortgage" (hypotheke) means - "pledge". In ancient Greece, a small pillar with a similar inscription was installed on the land of the borrower. He warned the owner that for failure to pay the loan on time, the land would be transferred to the lender.
  3. In England, during the Middle Ages, prison was threatened for non-payment of debt. True, the arrest could have been avoided. The debtor simply did not need to leave the confines of his own house, where they had no right to arrest him.
  4. In Russia, the debtor was mercilessly flogged in the square with a large crowd of people. This was done so that one of the spectators was imbued with compassion for the unfortunate and paid the debt for him. Some of the punished tried to scream as loudly as possible to arouse self-pity.
  5. In 1754, the State Land Bank was opened in Russia, where nobles could receive loans secured by their own land and real estate. Loans were issued at 6 percent per annum. In the nineteenth century, peasants also received the right to take out loans.
  6. The famous French writer Alexandre Dumas was called the "Eternal Debtor". In 1852, the Paris court accepted claims from 53 creditors, the total debt amounting to 107, 000 francs. True, Dumas himself managed to leave for Brussels. The writer loved to live on a grand scale, moreover, he spent money not only on himself, but also generously distributed it to friends and acquaintances. Once he said: “I have not refused money to any person. The only exceptions were my creditors. "
  7. The Kwakutl Indians had an interesting custom: when a person borrowed something, he left ... his own name as collateral. None of the tribesmen called him by name until the moment when the debt was not fully paid off.
  8. One of the banks in Italy accepts parmesan cheese as a loan collateral. Moreover, the interest is charged small: this cheese is very popular, therefore, it will not be difficult to sell it, if the loan is not repaid.
  9. But the Parisian pawnshop Credit Municipal de Paris is ready to accept elite alcoholic drinks as collateral. Already in the early days of the pawnshop storehouse were supplemented with hundreds of bottles of wine.
  10. In 2007, the park of the writer Charles Dickens was opened in the English county of Kent. Here the atmosphere of the middle of the 19th century was recreated with maximum accuracy. Visitors can, among other entertainment, even sit in a debt prison. By the way, Dickens's father was imprisoned in such an institution in 1824, unable to repay the debt. He was able to get out of there only six months later, when he received his mother's inheritance. About one million people visit the park annually.