Vertragsfreiheit in der Donaumonarchie. Das Gesetz für Galizien über das Wucherverbot
Freedom of Contract in the Habsburg Monarchy. The Prohibition of Usury in Galicia

Summary/Abstract: The article discusses the evolution of legislation on usury in the constitutional era of the Habsburg Monarchy and an analysis of Austrian legal regulations containing the first modern definition of usury in the European legislation. The change of statutory pre-conditions of usury was a reflection of economic trends in the Austrian policy of the second half of the 19th century. The author presents the issue of penalization and depenalization of usury in the juridical, political, and social context. Apart from discussing the legal boundaries of the freedom of contract, the author shows the social background of the act of 1877 that banned usury in Galicia and the particular economic and political situation of Galicia that caused the Austrian government to deviate from ultra-liberal market economy. A specific feature of the economic relations in the province was the dependence of Galician peasantry on the loans offered by Jews. The legislation limiting the freedom of contract in case of credit contracts was one of the elements of the policy of Galician government to normalize the relationships between the peasantry and the Jewish population.

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