That the problems of a swiftly changing economic environment should have burst on Europe at a moment when it was torn by religious dissensions more acute than ever before, may perhaps be counted as not least among the tragedies of its history. But differences of social theory did not coincide with differences of religious opinion, and the mark of nearly all this body of teaching, alike in Germany and in England, is its conservatism. Where questions of social morality were involved, men whose names are a symbol of religious revolution stood, with hardly an exception, on the ancient ways, appealed to medieval authorities, and reproduced in popular language the doctrines of the Schoolmen.
A view of the social history of the sixteenth century which has found acceptance in certain quarters has represented the Reformation as the triumph of the commercial spirit over the traditional social ethics of Christendom. Something like it is of respectable antiquity. As early as 1540 Cranmer wrote to Oziander protesting against the embarrassment caused to reformers in England by the indulgence to moral laxity, in the matter alike of economic transactions and of marriage, alleged to be given by reformers in Germany.133 By the seventeenth century the hints had become a theory and an argument. Bossuet taunted Calvin and Bucer with being the first theologians to defend extortion,134 and it only remained for a pamphleteer to adapt the indictment to popular consumption, by writing bluntly that “it grew to a proverb that usury was the brat of heresy.”135 That the revolt from Rome synchronized, both in Germany and in England, with a period of acute social distress is undeniable, nor is any long argument needed to show that, like other revolutions, it had its seamy side. What is sometimes suggested, however, is not merely a coincidence of religious and economic movements, but a logical connection between changes in economic organization and changes in religious doctrines. It is implied that the bad social practice of the age was the inevitable expression of its religious innovations, and that, if the reformers did not explicitly teach a conscienceless individualism, individualism was, at least, the natural corollary of their teaching. In the eighteenth century, which had as little love for the commercial restrictions of the ages of monkish superstition as for their political theory, that view was advanced as eulogy. In our own day, the wheel seems almost to have come full circle. What was then a matter for congratulation is now often an occasion for criticism. There are writers by whom the Reformation is attacked, as inaugurating a period of unscrupulous commercialism, which had previously been held in check, it is suggested, by the teaching of the Church.
These attempts to relate changes in social theory to the grand religious struggles of the age have their significance. But the obiter dicta of an acrimonious controversy throw more light on the temper of the combatants than on the substance of their contentions, and the issues were too complex to be adequately expressed in the simple antitheses which appealed to partisans. If capitalism means the direction of industry by the owners of capital for their own pecuniary gain, and the social relationships which establish themselves between them and the wage-earning proletariat whom they control, then capitalism had existed on a grand scale both in medieval Italy and in medieval Flanders. If by the capitalist spirit is meant the temper which is prepared to sacrifice all moral scruples to the pursuit of profit, it had been only too familiar to the saints and sages of the Middle Ages. It was the economic imperialism of Catholic Portugal and Spain, not the less imposing, if more solid, achievements of the Protestant powers, which impressed contemporaries down to the Armada. It
