defence of usury-第8节
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the rest are Sir William Blackstone's： and I restore； at bottom； the words I was obliged to discard； in order to make room for mine。 〃To demand an exorbitant price is equally contrary to conscience； for the loan of a horse； or for the loan of a sum of money。 but a reasonable equivalent for the temporary inconvenience； which the owner may feel by the want of it； and for the hazard of his losing it entirely； is not more immoral in one case than in the other。。。 〃As to selling horses； a capital distinction must be made； between a moderate and an exorbitant profit： to the former of which we give the name of horse…dealing；（4*） to the latter the truly odious appellation of jockey…ship：（5*） the former is necessary in every civil state； if it were but to exclude the latter。 For； as the whole of this matter is well summed up by Grotius； if the compensation allowed by law does not exceed the proportion of the inconvenience which it is to the seller of the horse to part with it；（6*） or the want which the buyer has of it；（7*） its allowance is neither repugnant to the revealed law； nor to the natural law： but if it exceeds these bounds； it is then an oppressive jockey…ship：（8*） and though the municipal laws may give it impunity； they never can make it just。 〃We see； that the exorbitance or moderation of the price given for a horse（9*） depends upon two circumstances： upon the inconvenience of parting with the horse one has；（10*） and the hazard of not being able to meet with such another。（11*） The inconvenience to individual sellers of horses；（12*） can never be estimated by laws； the general price for horses（13*） must depend therefore upon the usual or general inconvenience。 This results entirely from the quantity of horses（14*） in the kingdom： for the more horses（15*） there are running about（16*） in any nation； the greater superfluity there will be beyond what is necessary to carry on the business of the mail coaches（17*） and the common concerns of life。 In every nation or public community there is a certain quantity of horses（18*） then necessary； which a person well skilled in political arithmetic might perhaps calculate as exactly as a private horse…dealer（19*） can the demand for running horses in his own stables：（20*） all above this necessary quantity may be spared； or lent； or sold； without much inconvenience to the respective lenders or sellers： and the greater the national superfluity is； the more numerous will be the sellers；（21*） and the lower ought the national price of horseflesh （22*） to be： but where there are not enough； or barely enough spare horses（23*） to answer the ordinary uses of the pubic； horse…flesh（24*） will be proportionably high： for sellers（25*） will be but few； as few can submit to the inconvenience of selling。〃（26*） So far the learned commentator。 I hope by this time you are worked up to a proper pitch of indignation； at the neglect and inconsistency betrayed by the law； in not suppressing this species of jockey…ship； which it would be so easy to do； only by fixing the price of horses。 Nobody is less disposed than I am to be uncharitable： but when one thinks of the *1500 taken for Eclipse； and *2000 for Rockingham； and so on； who can avoid being shocked； to think how little regard those who took such enormous prices must have had for 〃the law of revelation and the law of nature？〃 Whoever it is that is to move for the municipal law； not long ago talked of； for reducing the rate of interest； whenever that motion is made； then would be the rime for one of the Yorkshire members to get up； and move； by way of addition； for a clause for fixing and reducing the price of horses。 I need not expatiate on the usefulness of that valuable species of cattle； which might have been as cheap as asses before now； if our lawgivers had been as mindful of their duty in the suppression of jockey…ship； as they have been in the suppression of usury。 It may be said； against fixing the price of horse…flesh； that different horses may be of different values。 I answer and I think I shall shew you as much； when I come to touch upon the subject of champerty not more different than the values which the use of the same sum of money may be of to different persons； on different occasions。
LETTER X Grounds of the Prejudices against Usury。
It is one thing； to find reasons why it is fit a law should have been made： it is another to find the reasons why it was made： in other words； it is one thing to justify a law： it is another thing to account for its existence。 In the present instance； the former task； if the observations I have been troubling you with are just； is an impossible one。 The other； though not necessary for conviction； may contribute something perhaps in the way of satisfaction。 To trace an error to its fountain head； says lord Coke； is to refute it； and many men there are who； till they have received this satisfaction； be the error what it may； cannot prevail upon themselves to part with it。 〃If our ancestors have been all along under a mistake； how came they to have fallen into it？〃 is a question that naturally presents itself upon all such occasions。 The case is； that in matters of law more especially； such is the dominion of authority over our minds； and such the prejudice it creates in favour of whatever institution it has taken under its wing； that； after all manner of reasons that can be thought of； in favour of the institution； have been shewn to be insufficient； we still cannot forbear looking to some unassignable and latent reason for its efficient cause。 But if； instead of any such reason； we can find a cause for it in some notion； of the erroneousness of which we are already satisfied； then at last we are content to give it up without further struggle； and then； and not till then； our satisfaction is compleat。 In the conceptions of the more considerable part of those through whom our religion has been handed down to us； virtue； or rather godliness； which was an improved substitute for virtue； consisted in self…denial： not in self…denial for the sake of society； but of self…denial for its own sake。 One pretty general rule served for most occasions： not to do what you had a mind to do； or； in other words； not to do what would be for your advantage。 By this of course was meant temporal advantage： to which spiritual advantage was understood to be in constant and diametrical opposition。 For； the proof of a resolution； on the part of a being of perfect power and benevolence； to make his few favourites happy in a state in which they were to be； was his determined pleasure； that they should keep themselves as much strangers to happiness as possible； in the state in which they were。 Now to get money is what most men have a mind to do： because he who has money gets； as far as it goes； most other things that he has a mind for。 Of course nobody was to get money： indeed why should he； when he was not so much as to keep what he had got already？ To lend money at interest； is to get money； or at least to try to get it： of course it was a bad thing to lend money upon such terms。 The better the terms； the worse it was to lend upon them： but it was bad to lend upon any terms； by which any thing could be got。 What made it much the worse was； that it was acting like a Jew： for though all Christians at first were Jews； and continued to do as Jews did； after they had become Christians； yet； in process of time； it came to be discovered； that the distance between the mother and the daughter church could not be too wide。 By degrees； as old conceits gave place to new； nature so far prevailed； that the objections to getting money in general； were pretty well over…ruled： but still this Jewish way of getting it； was too odious to be endured。 Christians were too intent upon plaguing Jews； to listen to the suggestion of doing as Jews did； even though money were to be got by it。 Indeed the easier method； and a method pretty much in vogue； was； to let the Jews get the money any how they could； and then squeeze it out of them as it was wanted。 In process of time； as questions of all sorts came under discussion； and this； not the least interesting； among the rest； the anti…Jewish side of it found no unopportune support in a passage of Aristotle： that celebrated heathen； who； in all matters wherein heathenism did not destroy his competence； had established a despotic empire over the Christian world。 As fate would have it； that great philosopher； with all his industry； and all his penetration； notwithstanding the great number of pieces of money that had passed through his hands （more perhaps than ever passed through the hands of philosopher before or since）； and notwithstanding the uncommon pains he had bestowed on the subject of generation； had never been able to discover； in any one piece of money； any organs for generating any other such piece。 Emboldened by so strong a body of negative proof； he ventured at last to usher into the world the result of his observations； in the form of an universal proposition； that all money is in its nature barren。 You； my friend； to whose cast of mind sound reason is much more congenial than ancient philosophy； you have； I dare to say； gone before me in remarking； that the practical inference f
