The Records of the Parliaments of Scotland to 1707, K.M. Brown et al eds (St Andrews, 2007-2024), date accessed: 29 March 2024
[1599/7/12]1
Act regarding usury
The king's majesty, his nobility, council and estates presently convened, remembering how that there have been diverse acts of parliament and conventions made heretofore against the freedom and liberty which sundry avaricious and godless persons have taken to exact and lift such exorbitant and intolerable profit and usury for the lending of their money and is now commonly used within this country, to the offence and displeasure of God and to the wrack and undoing of so great numbers of his majesty's good subjects; the due execution of the which acts have been greatly hindered and frustrated by the crafty and subtle conditions of the said godless and avaricious persons who lend out their money upon bonds and obligations, and either retains the annualrent in their own hands, comprehend the same within the principal sum, obscuring and concealing the profit which they receive for the same, and takes their security by plain form of obligation for payment of the whole sum, both principal and annualrent, and borrowed money; and as if no such ocker and usury had been allowed or intended therein, through which the due form of trial of that pernicious and unlawful trade is hindered and prejudiced. For remedy whereof, and for the better trial of the said usury in time coming, it is statute and ordained that in the trial of usury the criminal pain shall be dispensed with and the pecuniary pain insisted upon, and that the trial shall be depositions of witnesses or oath of party at the option of his majesty's treasurer and advocate; and if the party refuses to give their oath, the said estates declare that the same shall be held as confessed.
- NAS, PA8/1, f.33r.