Page:William Petty - Economic Writings (1899) vol 1.djvu/147

Rh is seldom enough to give due encouragement to profound Judges and Lawyers, which makes judgements very casual; ignorant men being more bold to be apt and arbitrary, then such as understand the dangers of it. But all this with a little care in due season might remedy, so as to bring Ireland in a few years to the same level of values with other places; but of this also elsewhere more at large, for in the next place we shall come to Usury.|29|  

Hat reason there is for taking or giving Interest or Usury for any thing which we may certainly have again whensoever we call for it, I see not; nor why Usury should be scrupled, where money or other necessaries valued by it, is lent to be paid at such a time and place as the Borrower chuseth, so as the Lender cannot have his money paid him back where and when himself pleaseth, I also see not. Wherefore when a man giveth out his money upon condition that he may not demand it back until a certain time to come, whatsoever his own necessities shall be in the mean time, he certainly may take a compensation for this inconvenience which he admits against himself: And this allowance is that we commonly call Usury.

2. And when one man furnisheth another with money at some distant place, and engages under great Penalties to pay him there, and at a certain day besides; the consideration for this, is that we call Exchange or local Usury.

As for example, if a man wanting money at Carlisle in the heat of the late Civil Wars, when the way was full of Souldiers and Robbers, and the passage by Sea very long, troublesome, 

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