This largely explains why the Jew in Spain has not sunk in public estimation as much as he did in other countries, why his fate was different, and, in the end, worse than that of his more humiliated and degraded brother elsewhere. When the German or French Jew was forced out of commerce he could only become a money-lender at the usurious rates prevailing in those times. This vocation drew on him the contempt and hatred of all classes, as was always the case and as is the case in many places even to-day. But while the usurer was despised he was very useful, often even indispensable, especially in those times when there was a great scarcity of the precious metals and of convertible capital. This may explain why the exiled Jews were in other countries usually called back to the places from which they were exiled. The prejudice of the age may render their work disreputable, but it was none the less necessary; they were missed as soon as they left, and on many occasions negotiations for their return were begun as soon as the popular fury cooled down, or when the object of spoliation was attained.
Not so in Spain. The Jewish merchant who could no longer hold his own against his stronger non-Jewish competitor, could do what is often done by others who voluntarily retire from such pursuits, i. e., invest his capital in landed estates. We can imagine that the transition did not at all seem to be forced, that those who caused it, and even its victims, might have considered it as the natural course of events. After the great massacres of 1391, a century before the expulsion, many Jews emigrated to Moorish North Africa, where there still remained some degree of tolerance and friendliness for them, mingled perhaps with some hope of re-conquering the lost parts of the Iberian peninsula. But later there was less thought of migration, least of all of emigrating to the parts of Spain which still remained in the possession of the Moors. The race which was, seven centuries before, assisted by the Jews to become masters of Iberia, and which together with them rose to a height of culture and mental achievement which is not yet properly appreciated in modern history, has now become degenerate and almost savage in its fanaticism. The Jew of Spain was still proud, despite his sufferings. He could not see his fate as clearly as we can now from the perspective of five hundred years. He was rooted in the country in which he lived for many centuries. He was, like most men of wealth and position, inclined to be optimistic, and he could not miss his only possible protection against expropriation or exile――the possession of full rights of citizenship――because the Jews nowhere had it in those times and had not had it since the days of ancient Rome.