est need. The republic had been
impoverished by the crusades, and was in dire financial straits.
Advantage was taken of this by the usurers to so bind the bank and
state together that when one lived the other must, or both must die
together. Stock in the bank was a loan to the state at four per cent.
annual interest. The union seemed to promise great prosperity for a
time, but really absorbed all the republic's vitality during the last
hundred years of their life.

Venetia was at the first a pure democracy. The Doge was elected by the
people and administered the government, himself being the responsible
head. He, later, chose advisers, or a cabinet, to be associated in the
responsible duties. After this, and about the time of the association
with the bank, a representative council was elected by the people, and
the government was administered by the Doge and this council. This was
gradually transformed from a government of the people to an oligarchy;
and as the years passed there were no steps taken toward a return, but
the authority and power was more and more centralized. The ruling
class was, in a hundred years, limited to those families enrolled in
the "Golden Book." In another hundred years the government was in
control of the "Council of Ten." Later the secret tribunal of three
was the terror of the people and the instrument of their oppression.
The republic was only such in name, the people were deprived of all
voice in the government, and the Doge became a puppet to obey the
ruling cabal.

Shakespeare went to Venice to find his typical usurer in Shylock the
Jew. He found there also his typical Christian, Antonio. Antonio was a
benevolent great soul, who loved his friends, supported all
benevolences, and hated the usurers. Shylock hated him because he
would lend without interest, and was constantly reproving him for his
usurious practice.

The contest between the usurers and the people of the Venetian
republic was a struggle for the life, but the usurers never relaxed
their hold. They dominated until the end.

Another great triumph of the usurers was in England at the time of
great need. William and Mary had been placed upon the throne by the
Protestants, but were in need of money to carry on the struggle for
its complete establishment. This was the usurers' opportunity. Former
kings, in like straits, had confiscated the wealth of the usurious
Jews, Lombards and Goldsmiths, and appropriated their property as