Money Given on Interest. Opportunities for Development in a Micro-society (According to the Example of Hadzhi Theodor from Elena and His Successor, from the 1830s until the Bulgarian Liberation)

The practice of giving money with interest is a long tradition in different societies. Today’s examples are studied by the microeconomics. This paper investigates the case of Ivan Hadzhi Teodorov and his family. The study in based mainly on unpublished documents from his archive at the Museum of the Revival Period – AIK “Daskalolivnitsa” in town of Elena and from the Bulgarian Historical Archive at the National Library “St. Cyril and St. Methodius”- Sofia. The main emphasis of the research is giving of money with interest, following the example of the Elena’s notable Hadzhi Teodor and his successor from the mid-19th century. In the process of research, several conclusions were drawn: the interest on the allocated matches does not exceed the percentage of other money lending examples presented by authors from the same period. The research shows that Elena’s notables were not only lenders but also borrowers of money. The documents reveal the existence of an orphanage fund, created by Hadzhi Theodor – a practice in which there is something human and noble.