Page 4 - Perspective 2022 - 11.9.22

RAV YOSEF ZVI RIMON

| THE SIGNIFICANCE OF SHMITA KSAFIM -

REMISSION OF LOANS

The Torah says, “At the end of seven years do shmita”

(Devarim, Chapter 15:1). A similar verse can be found

in regard to the mitzvah of Hakhel (commandment to

assemble). “At the end of seven years, at the set time of

the year of shmita, on the feast of Tabernacles” (Devarim,

Chapter 31:10). We learn from this, that the remission

of debts should take place at the end of a shmita year In general, there are two types of loans noted: There is
(Talmud Arakhin 38). Thus, at the end of the shmita year, a person who borrows money to survive because of his
we have to relinquish and discharge money owed to us and poverty or because of a sudden economic crisis that he is
this is the law of shmita ksafim. experiencing, and there is a person who is not in financial

Shmita ksafim reminds us that the world belongs to distress but nevertheless takes loans in order to invest and
G-d – that He is the ultimate owner. However, a central generate profits. When a person is in financial distress,
concept of shmita ksafim is helping the poor, as Rambam the Torah wants to enable him to have a fresh beginning.
(Maimonides) writes in “The Guide for the Perplexed” Abolishing his loans allows him to stand back on his feet.

(Part 3, Chapter 39). This is clearly seen in Torah verses The Torah in general cannot be characterized as socialist

that repeatedly use language related to helping and butrathercapitalist.Itallowsfreetradewithnorestrictions,

performing chessed (kind deeds): “Every creditor shall so the more successful a person is in his trade, the more

release that which he hath lent unto his neighbor; he shall he will earn. However, the Torah does not abandon the

not exact it of his neighbor and his brother” (Devarim poor and the weak, and in many cases, it requires society

15:2). Furthermore, this section is part of to take care of them on both personal

a series of sections which discuss giving “EVERY CREDITOR SHALL and economic levels. This is reflected in
money to the poor (tithes, loans, the many commandments of help

equipping a slave). This is in contrast RELEASE THAT WHICH HE HATH LENT and chessed that aim to fix the
to the language used when the Yovel
(Jubilee) and the shmita of land is UNTO HIS NEIGHBOR; wrong that can be created in a
capitalistic economic system,

discussed where the principle of “for HE SHALL NOT EXACT IT OF HIS thereby ensuring that the

the land is Mine” (Vayikra 25:23) is NEIGHBOR AND HIS BROTHER” rules imposed by the Torah
produce a just and refined
found.

Thus, we learn that shmita ksafim is society.

not only concerned with abolishing the lordship attitude In this sense, shmita kesafim is part of the cycle of help
of the lender towards the borrower and recognizing G-d’s that the Torah requires us to extend. The initial help is
lordship, but also includes the social-communal aspect manifested by the obligation of providing a loan – "If thou
of shmita. However, while the acknowledgment of G-d’s lend money to any of My people" (Shemot 22:24), but if the

lordship refers to all the loans, regardless of the identities borrower fails to repay his debts, the Torah demands from

of the lender and borrower, it turns out that the social us to extend further assistance, and once, every seven

aspect actually manifests itself in a particular kind of loan. years, to expunge the debts. This allows the debtors to

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