defence of usury-µÚ17½Ú
°´¼üÅÌÉÏ·½Ïò¼ü ¡û »ò ¡ú ¿É¿ìËÙÉÏÏ·ҳ£¬°´¼üÅÌÉ쵀 Enter ¼ü¿É»Øµ½±¾ÊéĿ¼ҳ£¬°´¼üÅÌÉÏ·½Ïò¼ü ¡ü ¿É»Øµ½±¾Ò³¶¥²¿£¡
¡ª¡ª¡ª¡ªÎ´ÔĶÁÍꣿ¼ÓÈëÊéÇ©ÒѱãÏ´μÌÐøÔĶÁ£¡
ive¡¡from¡¡the¡¡same¡¡quarter£»¡¡of¡¡the¡¡impression¡¡made¡¡in¡¡that¡¡country¡¡by¡¡the¡¡Defence¡¡of¡¡Usury¡£¡¡Yet¡¡the¡¡subjecting¡¡the¡¡rate¡¡of¡¡interest¡¡to¡¡a¡¡further¡¡reduction¡¡by¡¡a¡¡new¡¡law£»¡¡is¡¡a¡¡much¡¡more¡¡mischievous¡¡and¡¡less¡¡defensible¡¡measure¡¡than¡¡the¡¡continuing¡¡of¡¡the¡¡restraint¡¡upon¡¡the¡¡old¡¡footing£º¡¡and¡¡adds¡¡to¡¡the¡¡mischief¡¡of¡¡the¡¡old¡¡established¡¡regimen¡¡others¡¡of¡¡a¡¡new¡¡and¡¡much¡¡more¡¡serious¡¡nature¡£¡¡It¡¡would¡¡be¡¡a¡¡tax¡¡upon¡¡the¡¡owners¡¡of¡¡money£»¡¡much¡¡heavier¡¡than¡¡ever¡¡was¡¡levied¡¡upon¡¡the¡¡proprietors¡¡of¡¡land£º¡¡with¡¡this¡¡circumstance¡¡to¡¡distinguish¡¡it¡¡from¡¡all¡¡other¡¡taxes£»¡¡that£»¡¡instead¡¡of¡¡being¡¡brought¡¡into¡¡the¡¡treasury¡¡for¡¡the¡¡public¡¡service£»¡¡it¡¡is¡¡made¡¡a¡¡present¡¡of¡¡to¡¡the¡¡collectors£»¡¡in¡¡expectation¡¡of¡¡the¡¡good¡¡they¡¡are¡¡to¡¡do¡¡the¡¡nation¡¡by¡¡the¡¡spending¡¡of¡¡it¡£¡¡If¡¡this¡¡be¡¡good¡¡thrift£»¡¡in¡¡the¡¡name¡¡of¡¡consistency¡¡and¡¡equality¡¡let¡¡them¡¡impose¡¡a¡¡land¡¡Tax¡¡to¡¡the¡¡same¡¡amount£»¡¡and¡¡dispose¡¡of¡¡the¡¡produce¡¡in¡¡the¡¡same¡¡manner¡£¡¡What¡¡makes¡¡my¡¡anxiety¡¡the¡¡greater£»¡¡is¡¡the¡¡uncertainty¡¡whether¡¡this¡¡project¡¡of¡¡plunder¡¡without¡¡profit¡¡may¡¡not¡¡be¡¡still¡¡hovering¡¡over¡¡this¡¡island¡£¡¡Last¡¡year¡¡it¡¡was¡¡roundly¡¡and¡¡positively¡¡asserted¡¡in¡¡the¡¡Irish¡¡House¡¡of¡¡Commons£»¡¡as¡¡if¡¡upon¡¡personal¡¡knowledge£»¡¡to¡¡he¡¡determined¡¡upon¡¡in¡¡the¡¡Cabinet¡¡here£º¡¡and¡¡the¡¡Administration¡¡being¡¡appealed¡¡to£»¡¡though¡¡they¡¡of¡¡course¡¡would¡¡not¡¡acknowledge£»¡¡would¡¡no¡¡contradict¡¡it¡£¡¡Its¡¡suspension¡¡hitherto¡¡may¡¡have¡¡resulted¡¡from¡¡nothing¡¡more¡¡than¡¡a¡¡doubt¡¡whether¡¡the¡¡nation¡¡were¡¡yet¡¡ripe£»¡¡according¡¡to¡¡the¡¡Irish¡¡phrase£»¡¡for¡¡this¡¡mode¡¡of¡¡enrichment£º¡¡as¡¡if¡¡there¡¡were¡¡a¡¡time¡¡at¡¡which¡¡a¡¡nation¡¡were¡¡riper¡¡for¡¡plunder¡¡and¡¡waste¡¡than¡¡at¡¡another¡£¡¡I¡¡am¡¡truly¡¡sorry¡¡I¡¡can¡¡not¡¡find¡¡time¡¡to¡¡make¡¡one¡¡effort¡¡more¡¡for¡¡the¡¡express¡¡purpose¡¡of¡¡stemming¡¡the¡¡torrent¡¡of¡¡delusion¡¡in¡¡that¡¡channel¡£¡¡The¡¡straw¡¡I¡¡have¡¡planted¡¡has¡¡done¡¡something£º¡¡what¡¡might¡¡not¡¡be¡¡hoped¡¡for£»¡¡if¡¡your¡¡oak¡stick¡¡were¡¡linked¡¡with¡¡it£¿¡¡¡¡¡¡¡¡¡¡As¡¡the¡¡world¡¡judges£»¡¡one¡¡upon¡¡examination¡¡and¡¡nine¡¡hundred¡¡and¡¡ninety¡nine¡¡upon¡¡trust£»¡¡the¡¡declaration¡¡of¡¡your¡¡opinion¡¡upon¡¡any¡¡point¡¡of¡¡legislation¡¡would¡¡be¡¡worth£»¡¡I¡¡won't¡¡pretend¡¡to¡¡say¡¡how¡¡many¡¡votes£º¡¡but¡¡the¡¡declaration¡¡of¡¡your¡¡opinion¡¡in¡¡favour¡¡of¡¡a¡¡side¡¡to¡¡which¡¡conviction¡¡and¡¡candour¡¡had¡¡brought¡¡you¡¡over¡¡from¡¡the¡¡opposite¡¡one£»¡¡would¡¡be¡¡worth¡¡at¡¡least¡¡twice¡¡or¡¡thrice¡¡as¡¡many£º¡¡under¡¡such¡¡circumstances£»¡¡the¡¡authority¡¡of¡¡the¡¡converter¡¡would¡¡tell¡¡for¡¡little¡¡in¡¡comparison¡¡of¡¡that¡¡of¡¡the¡¡proselyte£»¡¡especially¡¡such¡¡a¡¡proselyte¡£¡¡We¡¡should¡¡have¡¡the¡¡Irish¡¡Chancellor¡¡of¡¡the¡¡Exchequer¡¡abjuring¡¡his¡¡annual¡¡motion¡¡in¡¡the¡¡face¡¡of¡¡the¡¡House£»¡¡and¡¡Lord¡¡Hawkesbury¡¡who£»¡¡it¡¡has¡¡been¡¡said£»¡¡is¡¡Mr¡¡Pitt's¡¡tutor¡¡in¡¡this¡¡wise¡¡business£»¡¡quietly¡¡and¡¡silently¡¡putting¡¡his¡¡papers¡¡and¡¡calculations¡¡into¡¡the¡¡fire¡£¡¡¡¡¡¡¡¡¡¡If£»¡¡then£»¡¡you¡¡agree¡¡with¡¡me¡¡in¡¡looking¡¡upon¡¡this¡¡as¡¡a¡¡most¡¡pernicious¡¡measure£»¡¡you¡¡would£»¡¡like¡¡me£»¡¡be¡¡glad¡¡to¡¡see¡¡it¡¡put¡¡an¡¡end¡¡to£»¡¡and¡¡for¡¡that¡¡purpose¡¡the¡¡acknowledgement¡¡of¡¡your¡¡opinion¡¡on¡¡a¡¡subject¡¡which¡¡you¡¡have¡¡made¡¡so¡¡much¡¡and¡¡so¡¡honourably¡¡your¡¡own£»¡¡is¡¡an¡¡expedient¡¡to¡¡the¡¡use¡¡of¡¡which£»¡¡I¡¡should¡¡hope£»¡¡you¡¡would¡¡not¡¡see¡¡any¡¡objection£º¡¡the¡¡less¡¡as¡¡you¡¡would¡¡hardly£»¡¡I¡¡suppose£»¡¡let¡¡another¡¡edition¡¡of¡¡your¡¡great¡¡work¡¡go¡¡abroad¡¡with¡¡opinions¡¡in¡¡it¡¡that¡¡were¡¡yours¡¡no¡¡longer¡£¡¡If£»¡¡then£»¡¡you¡¡think¡¡proper¡¡to¡¡honour¡¡me¡¡with¡¡your¡¡allowance¡¡for¡¡that¡¡purpose£»¡¡then¡¡and¡¡not¡¡otherwise¡¡I¡¡will¡¡make¡¡it¡¡known¡¡to¡¡the¡¡public£»¡¡in¡¡such¡¡words¡¡as¡¡you¡¡give¡¡me£»¡¡that¡¡you¡¡no¡¡longer¡¡look¡¡upon¡¡the¡¡rate¡¡of¡¡interest¡¡as¡¡fit¡¡subject¡¡for¡¡restraint£º¡¡and¡¡then£»¡¡thanks¡¡to¡¡you¡¡and¡¡Turgot¡¡and¡¡Dr¡¡Reid£»¡¡the¡¡Defence¡¡of¡¡Usury¡¡may¡¡be¡¡pronounced£»¡¡in¡¡its¡¡outworks¡¡at¡¡least£»¡¡a¡¡strong¡hold¡£
¡¡PREFACE¡¡TO¡¡THE¡¡SECOND¡¡EDITION
¡¡¡¡¡¡¡¡When¡¡the¡¡first¡¡edition¡¡of¡¡these¡¡letters¡¡was¡¡published£»¡¡I¡¡was¡¡still¡¡in¡¡the¡¡distant¡¡country¡¡from¡¡which¡¡they¡¡were¡¡written¡£¡¡It¡¡is¡¡about¡¡two¡¡years£»¡¡since¡¡that¡¡impression¡¡was¡¡exhausted£º¡¡it¡¡is¡¡about¡¡a¡¡year¡¡and¡¡a¡¡half¡¡since¡¡this¡¡reimpression¡¡was¡¡compleated£»¡¡the¡¡publication¡¡having¡¡been¡¡retarded¡¡till¡¡now¡¡by¡¡causes¡¡not¡¡worth¡¡mentioning¡£¡¡The¡¡alterations¡¡made¡¡in¡¡this¡¡second¡¡edition¡¡are¡¡few£»¡¡and¡¡those¡¡merely¡¡verbal¡¡and¡¡of¡¡no¡¡importance¡£¡¡In¡¡this¡¡interval£»¡¡had¡¡I¡¡heard¡¡of¡¡any¡¡objection£»¡¡total¡¡or¡¡partial£»¡¡I¡¡would¡¡have¡¡either¡¡admitted¡¡the¡¡force¡¡of¡¡it£»¡¡or¡¡answered¡¡it£º¡¡but¡¡I¡¡have¡¡not¡¡been¡¡able¡¡to¡¡meet¡¡with¡¡any¡£¡¡I¡¡have¡¡scarce¡¡heard¡¡of¡¡a¡¡reader¡¡who¡¡has¡¡not¡¡acknowledged¡¡himself¡¡convinced¡£¡¡The¡¡practical¡¡conclusion¡¡is¡¡the¡¡repealing¡¡of¡¡the¡¡laws¡¡against¡¡usury£»¡¡together¡¡with¡¡those¡¡others¡¡that¡¡are¡¡here¡¡pointed¡¡out¡¡as¡¡depending¡¡on¡¡the¡¡same¡¡principle¡£¡¡That¡¡matters¡¡are¡¡at¡¡all¡¡the¡¡nearer¡¡to¡¡such¡¡a¡¡measure¡¡since¡¡the¡¡publication¡¡of¡¡this¡¡work¡¡than¡¡they¡¡were¡¡before£»¡¡is¡¡more¡¡than¡¡I¡¡can¡¡pretend¡¡to¡¡have¡¡any¡¡ground¡¡for¡¡supposing£º¡¡for¡¡in¡¡great¡¡political¡¡questions£»¡¡wide¡¡indeed¡¡is¡¡the¡¡distance¡¡between¡¡conviction¡¡and¡¡practice¡£¡¡An¡¡intelligent¡¡Frenchman£»¡¡of¡¡whom¡¡I¡¡have¡¡not¡¡been¡¡able¡¡to¡¡learn¡¡enough¡¡to¡¡distinguish¡¡him¡¡more¡¡particularly£»¡¡published¡¡a¡¡few¡¡months¡¡since¡¡a¡¡translation¡¡he¡¡had¡¡made¡¡for¡¡his¡¡own¡¡amusement£»¡¡a¡¡considerable¡¡time¡¡before¡¡the¡¡commencement¡¡of¡¡the¡¡Revolution£»¡¡he¡¡says£»¡¡not¡¡long¡¡after¡¡the¡¡work¡¡found¡¡its¡¡way¡¡to¡¡France¡£¡¡He¡¡kept¡¡back¡¡the¡¡translation£»¡¡thinking¡¡the¡¡country¡¡not¡¡ripe¡¡for¡¡it¡£¡¡The¡¡general¡¡slaughter¡¡that¡¡has¡¡been¡¡made¡¡of¡¡all¡¡sorts¡¡of¡¡prejudices¡¡in¡¡that¡¡country¡¡may¡¡now£»¡¡he¡¡thinks£»¡¡have¡¡opened¡¡the¡¡way¡¡for¡¡it¡£¡¡But¡¡if¡¡its¡¡turning¡¡to¡¡any¡¡account¡¡in¡¡practice¡¡depends¡¡upon¡¡the¡¡overthrow¡¡of¡¡prejudice£»¡¡who¡¡shall¡¡calculate¡¡the¡¡period£»¡¡at¡¡which¡¡any¡¡good¡¡can¡¡be¡¡expected¡¡from¡¡it¡¡here£¿¡¡¡¡¡¡¡¡¡¡It¡¡is¡¡to¡¡the¡¡attempt¡¡made¡¡in¡¡Ireland¡¡to¡¡effect¡¡a¡¡fresh¡¡forced¡¡reduction¡¡of¡¡the¡¡legal¡¡rate¡¡of¡¡interest¡¡in¡¡that¡¡country£»¡¡that¡¡the¡¡reimpression¡¡there¡¡published¡¡must¡¡naturally¡¡have¡¡been¡¡indebted¡¡for¡¡a¡¡circulation¡¡proportionably¡¡more¡¡extensive¡¡than¡¡here¡£¡¡Between¡¡that¡¡measure¡¡and¡¡the¡¡laws¡¡condemned¡¡by¡¡this¡¡investigation£»¡¡the¡¡connection¡¡is¡¡close¡¡and¡¡evident¡£¡¡Had¡¡the¡¡reduction¡¡so¡¡proposed¡¡been¡¡naturally¡¡productive¡¡of¡¡the¡¡advantage¡¡expected¡¡from¡¡it£»¡¡and¡¡at¡¡the¡¡same¡¡time¡¡not¡¡attended¡¡with¡¡any¡¡additional¡¡hardship¡¡or¡¡other¡¡inconvenience¡¡superior¡¡to¡¡that¡¡advantage£»¡¡such¡¡a¡¡reduction¡¡would¡¡then¡¡have¡¡had¡¡no¡¡other¡¡objections¡¡to¡¡combat¡¡than¡¡the¡¡objections£»¡¡decisive¡¡as¡¡they¡¡are¡¡represented¡¡in¡¡this¡¡work£»¡¡which¡¡apply¡¡to¡¡the¡¡original¡¡fixation¡£¡¡According¡¡to¡¡my¡¡conception¡¡of¡¡the¡¡matter£»¡¡however£»¡¡that¡¡advantage¡¡is¡¡altogether¡¡illusory£»¡¡the¡¡measure¡¡is¡¡attended¡¡with¡¡hardships¡¡much¡¡more¡¡than¡¡sufficient¡¡to¡¡outweigh¡¡the¡¡advantage£»¡¡were¡¡it¡¡real£»¡¡and¡¡of¡¡these£»¡¡several¡¡are¡¡distinct¡¡from£»¡¡and¡¡superadded¡¡to£»¡¡those¡¡which¡¡result¡¡from¡¡the¡¡impropriety¡¡of¡¡ever¡¡having¡¡fixed¡¡any¡¡rate¡¡at¡¡all¡£¡¡Had¡¡I¡¡divined¡¡the¡¡politico¡economical¡¡advantage¡¡proposed¡¡from¡¡this¡¡ulterior¡¡and¡¡fresh¡¡reduction£»¡¡I¡¡should¡¡have¡¡set¡¡it¡¡down¡¡among¡¡the¡¡reasons¡¡capable¡¡of¡¡being¡¡alledged¡¡in¡¡support¡¡of¡¡the¡¡original¡¡fixation£º¡¡for¡¡the¡¡advantage£»¡¡if¡¡it¡¡were¡¡one£»¡¡of¡¡the¡¡proposed¡¡future¡¡reduction£»¡¡must¡¡proportionably¡¡have¡¡resulted¡¡from¡¡the¡¡precedent¡¡ones¡£¡¡The¡¡fact¡¡is£»¡¡I¡¡must¡¡confess£»¡¡that¡¡in¡¡the¡¡situation¡¡I¡¡was¡¡then¡¡in£»¡¡sequestered¡¡not¡¡less¡¡from¡¡political¡¡converse¡¡than¡¡from¡¡books£»¡¡this¡¡supposed¡¡advantage¡¡had¡¡equally¡¡escaped¡¡my¡¡recollection¡¡and¡¡my¡¡imagination¡¡as¡¡applicable¡¡to¡¡the¡¡original¡¡fixation£»¡¡though¡¡recollection¡¡had¡¡represented¡¡it¡¡as¡¡capable¡¡of¡¡having¡¡been¡¡supposed¡¡to¡¡result¡¡from¡¡successive¡¡reductions¡£¡¡From¡¡newspapers¡¡I¡¡had¡¡learnt¡¡thus¡¡much£»¡¡that¡¡in¡¡England¡¡a¡¡fresh¡¡reduction¡¡had¡¡lately¡¡been¡¡proposed£»¡¡as¡¡tending¡¡some¡¡how¡¡or¡¡other¡¡to¡¡the¡¡benefit¡¡of¡¡trade£º¡¡but¡¡the¡¡sound¡¡of¡¡the¡¡word¡¡trade¡¡being¡¡all¡¡I¡¡was¡¡able¡¡to¡¡collect£»¡¡what¡¡that¡¡benefit¡¡was£»¡¡or¡¡how¡¡it¡¡was¡¡to¡¡be¡¡brought¡¡about£»¡¡was¡¡more¡¡than¡¡I¡¡could¡¡conceive¡£¡¡To¡¡apply¡¡it¡¡to¡¡the¡¡immediate¡¡subject¡¡I¡¡was¡¡treating¡¡of£»¡¡it¡¡was¡¡necessary¡¡I¡¡should¡¡have¡¡some¡¡conception¡¡of¡¡the¡¡force¡¡of¡¡it£º¡¡and¡¡unfortunately¡¡I¡¡was¡¡unable¡¡to¡¡perceive¡¡any¡¡force¡¡or¡¡meaning¡¡in¡¡it¡¡at¡¡all¡£¡¡It¡¡had¡¡equally¡¡escaped¡¡Dr¡¡Smith£º¡¡for¡¡his¡¡reasons¡¡in¡¡support¡¡of¡¡the¡¡limitation¡¡of¡¡the¡¡rate¡¡of¡¡interest¡¡are¡¡confined¡¡to¡¡the¡¡discouragement¡¡of¡¡prodigals¡¡and¡¡projectors£º¡¡of¡¡any¡¡supposed¡¡benefit¡¡to¡¡trade¡¡that¡¡was¡¡to¡¡follow¡¡from¡¡it¡¡in¡¡any¡¡other¡¡way£»¡¡he¡¡betrays¡¡not¡¡the¡¡smallest¡¡suspicion£º¡¡and¡¡blindness¡¡may¡¡be¡¡confessed¡¡without¡¡much¡¡shame£»¡¡where¡¡eyes¡¡like¡¡Dr¡¡Smith's¡¡have¡¡failed¡¡to¡¡see¡£¡¡I¡¡little¡¡suspected£»¡¡I¡¡must¡¡confess£»¡¡that¡¡so¡¡many¡¡intelligent¡¡and¡¡ingenious¡¡men¡¡would¡¡so¡¡compleatly¡¡have¡¡mistaken¡¡a¡¡consequence¡¡for¡¡a¡¡cause¡£¡¡Instructed¡¡by¡¡the¡¡debates¡¡of¡¡the¡¡Irish¡¡Parliament¡£¡¡I¡¡now¡¡understand¡¡clearly¡¡what¡¡benefit¡¡was¡¡expected¡¡from¡¡it£»¡¡but¡¡how¡¡that¡¡benefit¡¡was¡¡to¡¡flow¡¡from¡¡it¡¡is¡¡as¡¡much¡¡a¡¡mystery¡¡to¡¡me¡¡as¡¡ever¡£¡¡I¡¡will¡¡however¡¡avail¡¡myself¡¡now¡¡of¡¡that¡¡intelligence¡£¡¡By¡¡way¡¡of¡¡postscript£»¡¡I¡¡have¡¡accordingly¡¡given¡¡a¡¡very¡¡short£»¡¡but¡¡what¡¡appeared¡¡to¡¡me¡¡compleat£»¡¡answer¡¡to¡¡the¡¡argument¡¡afforded¡¡by¡¡that¡¡supposed¡¡benefit¡¡to¡¡my¡¡system£º¡¡and¡¡being¡¡thereby¡¡engaged¡¡to¡¡touch¡¡upon¡¡the¡¡measure¡¡of¡¡an¡¡ulterior¡¡reduction¡¡by¡¡which¡¡this¡¡supposed¡¡advantage¡¡was¡¡brought¡¡to¡¡view£»¡¡I¡¡have¡¡stated¡¡such¡¡other¡¡considerations¡¡a¡¡appear¡¡to¡¡combat¡¡the¡¡propriety¡¡of¡¡that¡¡ulterior¡¡reduction£»¡¡though¡¡not¡¡all¡¡of¡¡them¡¡applicable¡¡to¡¡the¡¡continuing¡¡of¡¡the¡¡rate¡¡at¡¡its¡¡present¡¡level¡£¡¡¡¡¡¡¡¡¡¡As¡¡little¡¡can¡¡I¡¡pretend¡¡to¡¡say£»¡¡whether¡¡a¡¡project¡¡of¡¡the¡¡same¡¡nature¡¡bas¡¡received¡¡any¡¡check¡¡from¡¡it¡¡in¡¡England¡£¡¡Infallibility¡¡is¡¡among¡¡the¡¡appendages¡¡of¡¡power£º¡¡and¡¡if¡¡it¡¡be¡¡a¡¡dream£»¡¡it¡¡is¡¡one¡¡of¡¡those¡¡which¡¡do¡¡not¡¡own¡¡themselves¡¡as¡¡such£»¡¡and¡¡from¡¡which¡¡men¡¡are¡¡seldom¡¡thankful¡¡for¡¡being¡¡awaked¡£¡¡Several¡¡circumstances¡¡render¡¡probable¡¡that¡¡a¡¡project¡¡of¡¡this¡¡sort¡¡was¡¡not¡¡very¡¡long¡¡ago¡¡entertained£º¡¡a¡¡positive¡¡assertion¡¡to¡¡that¡¡effect¡¡made¡¡in¡¡the¡¡Irish¡¡Parliament¡¡received¡¡no¡¡contradiction¡£¡¡Of¡¡lat