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Bible Encyclopedias
Bank; Banking
International Standard Bible Encyclopedia
or 1. Introductory
"Banking" in the full modern sense, of taking money on deposit and lending it out on interest, is of comparatively recent origin. A few "banks of deposit" were founded in Italy in the Middle Ages, but the earliest "banks of issue," of the modern sort, were those of Amsterdam (1609) and Hamburg (1619), beginning in the 17th century. The law of Moses forbade Israelites to charge each other interest (Exodus 22:25; Leviticus 25:35 , Leviticus 25:37; Deuteronomy 23:19 ), but let them lend on interest to Gentiles (Deuteronomy 23:20 ), though this law was often evaded or disregarded (Nehemiah 5:10 , Nehemiah 5:12 ). Banks and banking, however, are found in operation in the Greek cities; "moneychangers ," sitting at their tables (
2. Banking Among the Ancient Hebrews
(1) The Hebrew money-changer, like his modern Syrian counterpart, the
(2) But no mean part of his business was the exchanging of foreign money, and even the money of the country of a non-Phoenician standard, for shekels and half-shekels on this standard, the latter being accepted only in payment of the temple dues (see MONEY ). The "money-changers" of Matthew 21:12 , as the Greek signifies, were men who made small change. Such men may be seen in Jerusalem now with various coins pried in slender pillars on a table (compare
(3) "Usury" in English Versions of the Bible is simply Old English for what we today call "interest," i.e. the sum paid for the use of money, Latin usura; and "interest" should take the place of it in all passages in the Old Testament and New Testament, where it has such significance.
3. Banking in New Testament Times
The Greek word rendered (
(1) In Christ's time, and immediately following, there was great need for money-changers and money-changing, especially on the part of foreign Jews whom custom forbade to put any but Jewish coins into the temple treasury (see Mark 12:41 ). It was mainly for the convenience of these Jews of the Dispersion, and because it was in order to a sacred use, that the people thought it proper to allow the money-changers to set up their tables in the outer court of the temple (see Matthew 21:12 ).
(2) The language of Matthew 25:27 , 'Thou oughtest to have put my money to the bankers ,' etc., would seem to indicate the recognition by Christ of the custom and propriety of lending out money on interest (compare Matthew 19:23 ). The "exchangers" here are "bankers" (compare Matthew 25:27 ). The Greek (
4. Interpretations, Figurative Uses, Etc
(1) In Christ's parable (Luke 19:23 ) "the bank " (literally, "a bank," "table") is taken by some to mean "the synagogue ," by others to mean "the church " (Lange, LJ, II, 1, 414); i.e. it is thought that Christ meant to teach that the organized body, "synagogue" or "church," might use the gifts or powers of an adherent or disciple, when he himself could not exercise them (compare DCG , article "Bank").
(2) Then some have thought that Christ was here pointing to prayer as a substitute for good works, when the disciple was unable to do such. Such views seem far-fetched and unnecessary (compare Bruce, Parabolic Teaching of Christ , 209 f).
(3) The "money-changers," then as now, had ever to be on guard against false money, which gives point to the oft-quoted extra-scriptural saying (
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Orr, James, M.A., D.D. General Editor. Entry for 'Bank; Banking'. International Standard Bible Encyclopedia. https://www.studylight.org/encyclopedias/eng/isb/b/bank-banking.html. 1915.
