Eph 1018 3/12/89; 6/29/75; 1 Tim 8/10/75; Rev 2:14 3/19/82 D245

DOCTRINE OF MONEY

A. Definition.

1. The English word money is derived from the Latin MONETA, which means a mint, a place where money is made. It refers to a stamped coin.

2. Money is the medium in which prices are expressed, debts are discharged, goods and services are paid for, and bank reserves are held.

3. The term is synonymous with a circulating medium, and may be regarded as comprising demand deposits, common money or currency, coins, bank notes, or paper money which is circulated.

4. British economist Dr. Ralph Hautry, “Money is one of those concepts which like a teaspoon or umbrella, but unlike an earthquake or buttercup, are undefinable primarily by the use or purpose which they serve.” Money must be defined in terms of its function and related to its value.

5. Money is the means of stating the prices of goods and services as well as expressing debts, salaries, wages, rents, etc. Money is a medium of exchange whereby goods and services are paid for and debts are discharged.

6. Money serves as a reserve for ready purchasing power. Therefore, money is the only complete liquid asset.

7. In the ancient world, money was used as a store of value.

8. The rise of commercial and central banking resulted in a corresponding increase in the importance of money used as reserves of the banking system.

9. Money is unique among economic goods. It is regarded, not as wealth, but as a device for exchanging and measuring wealth.

10. An increase in the quantity of money in a nation does not necessarily constitute an increase in the country’s wealth. Inflation is the increase of the quantity of money in a nation, but decreases the nation’s wealth.

11. Money is the common medium by which exchanges are rendered possible, the common measure by which the comparative valves of these exchanges are estimated, and the standard by which future obligations are determined.

B. The History of Money.

1. There have been many different objects used for money, such as barter, slaves, gunpowder, oxen in Homeric times, elephants, cattle, stones, wool, barley, wheat, timber. The most widely used medium is gold and silver. Before coins came into use, money was measured in terms of rings, bars, talents, various systems of weights.

2. Coin money was first invented by Creusis, King of Lydia, 561-546 B.C. Darius, king of Persia, picked up the idea and used coined money. The Phoenician traders did the same and it spread all over the ancient world.

3. There were three kinds of coins in the New Testament times.

a. The imperial Roman coins.

b. The provincial coins based on the old Greek standard.

c. The Jews had their own money.

4. Paper money did not come into use until the French Revolution.

C. The Bible teaches legitimate functions of money.

1. For monetary transactions, Gen 23:9 through Jer 32:44. The shekel was a rolled piece of metal.

2. Money was used to pay taxes, Mt 22:17-22; Mk 12:13-17; Lk 20:20-26. The Bible only recognizes 10% across-the-board taxation.

3. Money is necessary for the function of an economy. Therefore it is not wrong or sinful for believers to possess money, even in large amounts. It glorifies God when it is part of your escrow blessings.

4. Money becomes a wonderful slave or a cruel master, depending on your spiritual condition, Jude 11. The deceit of Balaam was monetary lust. Don’t ever let money become your master.

a. The Greek word PLANE connotes areas of deceit regarding money.

(1) Money cannot buy salvation.

The spiritual death of our Lord was the purchase price for our salvation.

(2) Money cannot by love.

(3) Money is not a means of happiness.

(4) Money is not a means of security, Mt 6:24-33.

(5) Money cannot buy everything. There are many things that money cannot buy, such as salvation, true love, security, perfect happiness from God, stability of soul, peace of mind.

b. While Balaam is an illustration of monetary reversionism, the emphasis in doctrine is that money doesn’t provide any of these things.

5. Giving of money is an expression of the royal priesthood and is a legitimate function in the Church Age, 2 Cor 8-9, 9:6.

6. Consequently, spending and accumulating money is legitimate.

7. It is not carnal or sinful for the believer to possess money or use money in a legitimate way. Illegitimate uses of money include bribery, trying to buy power, influence, or love, or to corrupt character.

8. Money is legitimate, its accumulation is legitimate and its use is permissable. The functions of money is part of the work ethic. There are monetary principles in the work ethic: earning money, saving money, spending money, giving money, investing money.

D. Dangers of Money to the Unbeliever.

1. Unbelievers can’t buy salvation, Mk 8:36-37; 1 Pet 1:18-19.

2. Money causes a rich man to have faith in wrong objects, Mk 10:25. The “eye of the needle” was the small door in the main gate of the city. This door was called the “eye of the needle.” One man could just barely get through the door. The camel could not fit through the door. The rich man cannot buy his way into heaven.

3. Money hinders the unbeliever from seeking salvation, Lk 16:19-31. (See Doctrine of Hades for extensive details on this passage.)

4. Money has credit with people but no credit with God, Prov 11:4. The righteousness of God is the credit you need to live with God forever. Money does not mean prosperity, Prov 11:28.

5. Money does not mean capacity for life, Prov 13:7, 11.

E. The Principle of Monetary Reversionism.

1. Solomon, Eccl 5:10-6:2. Money corrupted Solomon.

2. Balaam, Jude 11; Rev 2:14-15. Lust for money destroyed Balaam.

3. Ananias and Sapphira, Acts 5:1-10. They used money for approbation from other believers.

4. Lust for money can destroy the right priorities for life.

a. James 4:13-14, “Don’t kid me, you who say, `Today or tomorrow, we will go to this or that city, and we will work in that place for a year’s time, we shall both transact business and make a profit. Why, you do not even know what will happen tomorrow. What is your life? You are just a vapor trail in the sky, visible for a short time and then you vanish away [physical death].”

b. Money related to right perspective and mental attitude is taught in 1 Tim 6:3-11, 17, “If anyone advocates a different doctrine, and does not agree with sound doctrines, those that belong to our Lord Jesus Christ, and with doctrines that conform to godliness, he is arrogant and understands nothing; however, he has a morbid interest in controversial questions and disputes about words, out of which originate jealousy, strife, abusive language, evil suspicions, and constant friction between persons of a depraved mind, even deprived of truth, who assume that godliness is a means of profit. But godliness is a means of great profit, when accompanied by contentment [sharing God’s happiness]. For we have brought nothing into this world, and we cannot take anything out of it either. And if we have food and clothing, with these we shall be content. But those who want to get rich fall into a temptation and a snare, plus many foolish and hurtful lusts which plunge men into ruin and destruction. For the love for money is the root for all kinds of evil, and some by lusting for it have wandered away from doctrine, and stabbed themselves with many sorrows. But, O man of God, flee these things and pursue righteousness, godliness, doctrine, virtue-love, stability, gentleness.” Verse 17, “Teach those who are rich in this world not to be arrogant or to fix their confidence on the uncertainty of riches, but rather fix their confidence on God, who richly supplies us with all things to enjoy.”

c. Monetary reversionism or monetary degeneracy is taught in James 5:1-6. “Now listen, you rich people, weep and howl for your miseries which are coming upon you. Your wealth has rotted and your clothes have become moth-eaten. Your silver and gold are corroded [because you are using money as a problem solving device]; and their corrosion will testify against you and will eat your flesh like fire. You have horded wealth in the last days. Look at the wages you fail to pay the workmen who harvested your fields; you defrauded them of their wages, and they kept screaming; and the screams of your harvesters have entered the ears of the Lord of the armies. You lived in luxury and self-indulgence in the land. You have led a life of wanton pleasure; you have nourished your right lobes for the day of slaughter [70 AD]; you have condemned the innocent; you have murdered just persons who did not resist you.”

F. Monetary prosperity is a part of the supergrace blessings of Abraham, David, and Solomon, Prov 13:8-13, 18, 11:18.

G. The Dangers of Money to a Believer, Heb 13:5. “Let you lifestyle be free from the love of money, keep on being content with what you possess. For He Himself has said, `I will not ever leave you, nor will I ever forsake you.’”

H. Money and the Balance of Power.

1. Love for money creates power struggles which destroy the balance of power and create an imbalance of power.

2. Imbalance of power destroys both freedom and economic prosperity in the client nation to God.

3. Power struggles, which create imbalance in the economy of a nation, result in great suffering to the poor.

4. The problem of the imbalance of power.

a. The historical application of the industrial revolution. The industrial revolution gave rise to free enterprize, factories for mechanical production and systems of mechanical transportation, and a middle class as opposed to aristocracy and different economically from the poor.

b. There are three categories in the industrial revolution: management, labor, government.

(1) Management is designed to convert money and investment into industrial efficiency, which includes production and marketing.

(2) Labor is designed to execute production and marketing. There are three categories of labor: skilled and unskilled; administrative labor; marketing labor (sales personnel).

(3) There are three categories of national government: executive, legislative, legal.

c. National prosperity depends on all three categories of the industrial revolution: management, labor, and government. Government must maintain the freedom.

(1) These three categories must always be kept in balance.

(2) Power imbalance destroys prosperity and causes the industrial revolution to move to another geographical area.

d. This is related to the problem of imbalance of power. The decline of the industrial revolution means malfunction of all three categories.

(1) Management is both inefficient in the use of capital and often indifferent to the stabilization and security of labor. The power struggle in industry has led to the inefficiency of management to provide motivation, security, and just reward to labor. So labor unions combine with Congress to create an imbalance of power.

(2) Labor unions seek monopoly of the labor market rather than the benefits which belong to labor.

(3) Government fails to protect the freedom of all. The power struggle in government has led to the domination of Congress, so that laws no longer support freedom and self-determination, but the personal interests of their constituents. Consequently, government has encroached on freedom and stifled capitalism.

(4) Examples.

(a) Through excessive taxation of industry, management cannot support both government and labor.

(b) Through government attacks on monopolies, they have destroyed efficient service to the people of the country.

(d) Through socialism, by which the state first controls and then owns all industry.

(e) Through redistribution of wealth.

5. Just as there must be balance of power in government, so there must be balance of power between government, management, and labor in industry.

6. Love of money creates power struggles both in government and in industry, so that at present the industrial revolution is moving into the Pacific basin.

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R. B. Thieme, Jr. Bible Ministries 5139 West Alabama, Houston, Texas 77056 (713) 621-3740

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