defence of usury-第7部分

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is　but　subsidiary；　and　which　has　more　of　confutation　in　it　than　of　persuasion　or　instruction；　I　willingly　put　an　end。

LETTER　IX　Blackstone　considered。

　　　　I　hope　you　are；　by　this　time；　at　least；　pretty　much　of　my　opinion；　that　there　is　just　the　same　sort　of　harm；　and　no　other；　in　making　the　best　terms　one　can　for　one's　self　in　a　money　loan；　as　there　is　in　any　other　sort　of　bargain。　If　you　are　not；　Blackstone　however　is；　whose　opinion　I　hope　you　will　allow　to　be　worth　something。　In　speaking　of　the　rate　of　interest；（3*）　he　starts　a　parallel　between　a　bargain　for　the　loan　of　money；　and　a　bargain　about　a　horse；　and　pronounces；　without　hesitation；　that　the　harm　of　making　too　good　a　bargain；　is　just　as　great　in　the　one　case；　as　in　the　other。　As　money…lending；　and　not　horse…dealing。　was；　what　you　lawyers　call；　the　principal　case；　he　drops　the　horse…business；　as　soon　as　it　has　answered　the　purpose　of　illustration；　which　it　was　brought　to　serve。　But　as；　in　my　conception；　as　well　the　reasoning　by　which　he　supports　the　decision；　as　that　by　which　any　body　else　could　have　supported　it；　is　just　as　applicable　to　the　one　sort　of　bargain　as　to　the　other；　I　will　carry　on　the　parallel　a　little　farther；　and　give　the　same　extent　to　the　reasoning；　as　to　the　position　which　it　is　made　use　of　to　support。　This　extension　will　not　be　without　its　use；　for　if　the　position；　when　thus　extended；　should　be　found　just；　a　practical　inference　will　arise；　which　is；　that　the　benefits　of　these　restraints　ought　to　be　extended　from　the　money…trade　to　the　horse…trade。　That　my　own　opinion　is　not　favourable　to　such　restraints　in　either　case；　has　been　sufficiently　declared；　but　if　more　respectable　opinions　than　mine　are　still　to　prevail。　they　will　not　be　the　less　respectable　for　being　consistent。　　　　　The　sort　of　bargain　which　the　learned　commentator　has　happened　to　pitch　upon　for　the　illustration；　is　indeed；　in　the　case　illustrating；　as　in　the　case　illustrated。　a　loan：　but　as；　to　my　apprehension；　loan　or　sale　makes；　in　point　of　reasoning；　no　sort　of　difference；　and　as　the　utility　of　the　conclusion　will；　in　the　latter　case；　be　more　extensive。　I　shall　adapt　the　reasoning　to　the　more　important　business　of　selling　horses；　instead　of　the　less　important　one　of　lending　them。　　　　　A　circumstance；　that　would　render　the　extension　of　these　restraints。　to　the　horse…trade　more　smooth　and　easy。　is；　that　in　the　one　track；　as　well　as　in　the　other；　the　public　has　already　got　the　length　of　calling　names。　Jockey…ship；　a　term　of　reproach　not　less　frequently　applied　to　the　arts　of　those　who　sell　horses　than　to　the　arts　of　those　who　ride　them；　sounds；　I　take　it；　to　the　ear　of　many　a　worthy　gentleman；　nearly　as　bad　as　usury：　and　it　is　well　known　to　all　those　who　put　their　trust　in　proverbs；　and　not　less　to　those　who　put　their　trust　in　party；　that　when　we　have　got　a　dog　to　hang；　who　is　troublesome　and　keeps　us　at　bay；　whoever　can　contrive　to　fasten　a　bad　name　to　his　tail；　has　gained　more　than　half　the　battle。　I　now　proceed　with　my　application。　The　words　in　italics　are　my　own：　all　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。　Wha