some considerations of the lowering of interest-第3章

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ers　of　it；　and　that　this　Act　be　so　contrived；　that　it　forced　the　Natural　price　of　Money；　and　hindred　its　being　by　any　Body　Lent　at　a　higher　Use；　than　Four　Pound　Per　Cent。　which　is　plain　it　cannot。　Let　us　in　the　next　place　see；　what　will　be　the　Consequences　of　it。　　　　　1。　It　will　be　a　loss　to　Widows；　Orphans；　and　all　those　who　have　their　Estate　in　Money；　one　third　of　their　Estates：　which　will　be　a　very　hard　case　upon　a　great　number　of　People；　and　it　is　warily　to　be　consider'd　by　the　Wisdom　of　the　Nation；　whether　they　will　thus　at　one　blow；　fine　and　impoverish　a　great　and　innocent　part　of　the　People；　who　having　their　Estates　in　Money；　have　as　much　Right　to　make　as　much　of　their　Money；　as　it　is　worth；　（for　more　they　cannot）　as　the　Landlord　has　to　let　his　Land　for　as　much　as　it　will　yield。　To　Fine　Men　one　Third　of　their　Estates；　without　any　Crime　or　Offence　committed；　seems　very　hard。　　　　　2。　As　it　will　be　a　considerable　Loss　and　Injury　to　the　mony'd　Man；　so　it　will　be　no　Advantage　at　all　to　the　Kingdom。　For　so　Trade　be　not　Cramp'd；　and　the　Exportation　of　our　Native　Commodities　and　Manufactures　not　hindred；　it　will　be　no　matter　to　the　Kingdom；　who　amongst　our　selves　Gets　or　Loses：　only　common　Charity　teaches；　that　those　should　be　most　taken　care　ofby　the　Law；　who　are　least　capable　of　taking　care　for　themselves。　　　　　3。　It　will　be　a　Gain　to　the　Borrowing　Merchant；　For　if　he　Borrow　at　Four　per　Cent。　and　his　Returns　be　Twelve　per　Cent。　he　will　have　Eight　Per　Cent。　and　the　Lender　Four：　Whereas　now　they　divide　the　profit　equally　at　Six　Per　Cent。　But　this　neither　Gets　nor　Loses　the　Kingdom　in　your　Trade；　supposing　the　Merchant　and　Lender　to　be　both　Englishmen：　only　it　will　as　I　have　said；　transfer　a　third　part　of　the　Mony'd　Mans　Estate；　who　has　nothing　else　to　live　on；　into　the　Merchants　Pocket；　and　that　without　any　Merit　in　the　one；　or　Transgression　in　the　other。　Private　mens　interests　ought　not　thus　to　be　neglected；　nor　sacrificed　to　any　thing　but　the　manifest　advantage　of　the　Publick。　But　in　this　case　it　will　be　quite　the　contrary。　This　loss　to　the　mony'd　Men　will　be　a　prejudice　to　Trade：　Since　it　will　discourage　Lending　at　such　a　disproportion　of　Profit；　to　Risque；　as　we　shall　see　more　by　and　by；　when　we　come　to　consider　of　what　consequence　it　is　to　encourage　Lending；　that　so　none　of　the　Money　of　the　Nation　may　lie　dead；　and　thereby　prejudice　Trade。　　　　　4。　It　will　hinder　Trade。　For　there　being　a　certain　proporion　of　Money　necessary　for　driving　such　a　proporion　of　Trade；　so　much　Money　of　this　as　lies　still；　lessens　so　much　of　the　Trade。　Now　it　cannot　be　rationally　expected；　but　that　where　the　Venture　is　great；　and　the　Gains　small；　（as　it　is　in　Lending　in　England　upon　low　Interest）　many　will　choose　rather　to　hoard　up　their　Money；　than　venture　it　abroad　on　such　Terms。　This　will　be　a　loss　to　the　Kingdom；　and　such　a　loss；　as　here　in　England　ought　chiefly　to　be　looked　after：　For　we　having　no　Mines；　nor　any　other　way　of　getting；　or　keeping　of　Riches　amongst　us　but　by　Trade；　so　much　of　our　Trade　as　is　lost；　so　much　of　our　Riches　must　necessarily　go　with　it；　and　the　over…ballancing　of　Trade　between　us　and　our　Neighbours；　must　inevitably　carry　away　our　Money；　and　quickly　leave　us　Poor；　and　exposed。　Gold　and　Silver　though　they　serve　for　few　yet　they　command　all　the　conveniencies　of　life；　and　therefore　in　a　plenty　of　them　consists　Riches。　　　　　Every　one　knows　that　Mines　alone　furnish　these：　But　withal　'tis　observable　that　most　Counties　stored　with　them　by　Nature　are　poor。　The　digging　and　refining　of　these　Metals　taking　up　the　Labour；　and　wasting　the　Number　of　the　People。　For　which　reason　the　wise　Policy　of　the　Chineses　will　not　suffer　the　Mines　they　have　to　be　wrought。　Nor　indeed；　things　rightly　considered；　do　Gold　and　Silver　drawn　out　of　the　Mine　equally　Enrich；　with　what　is　got　by　Trade。　He　that　would　make　the　lighter　Scale　preponderate　to　the　opposite；　will　not　so　soon　do　it；　by　adding　encrease　of　new　Weight　to　the　emprier；　as　if　he　took　out　of　the　heavier　what　he　adds　to　the　lighter；　for　then　half　so　much　will　do　it。　Riches　do　not　consist　in　having　more　Gold　and　Silver；　but　in　having　more　in　proportion；　than　the　rest　of　the　World；　or　than　our　Neighbours；　whereby　we　are　enabled　to　procure　to　our　selves　a　greater　Plenty　of　the　Conveniencies　of　Life　than　comes　within　the　reach　of　Neighbouring　kingdoms　and　States；　who；　sharing　the　Gold　and　Silver　of　the　World　in　a　less　proportion；　want　the　means　of　Plenty　and　Power；　and　so　are　Poorer。　Nor　would　they　be　one　jot　the　Richer；　if　by　the　discovery　of　new　Mines　the　quantity　of　Gold　and　Silver　in　the　World　becoming　wice　as　much　as　it　is；　their　shares　of　them　should　be　doubled。　By　Gold　and　Silver　in　the　World　I　must　be　understood　to　mean；　not　what　lies　hid　in　the　Earth；　but　what　is　already　out　of　the　Mine　in　the　Hands　and　Possessions　of　Men。　This；　if　well　considered；　would　be　no　small　encouragement　to　Trade；　which　is　a　surer　and　shorter　way　to　Riches　than　any　other；　where　it　is　managed　with　Skill　and　Industry。　　　　　In　a　Country　not　furnished　with　Mines　there　are　but　two　ways　of　growing　Rich；　either　Conquest；　or　Commerce。　By　the　first　the　Romans　made　themselves　Masters　of　the　Riches　of　the　World；　but　I　think　that　in　our　present　circumstances；　no　Body　is　vain　enough　to　entertain　a　Thought　of　our　reaping　the　Profits　of　the　World　with　our　Swords；　and　making　the　Spoil　and　Tribute　of　Vanquished　Nations；　the　Fund　for　the　supply　of　the　Charges　of　the　Government；　with　an　overplus　for　the　wants；　and　equally　craving　Luxury；　and　fashionable　Vanity　of　the　People。　　　　　Commerce　therefore　is　the　only　way　left　to　us；　either　for　Riches　or　Subsistence；　for　this　the　advantages　of　our　Situation；　as　well　as　the　Industry　and　Inclination　of　our　People；　bold　and　skilful　at　Sea；　do　Naturally　fit　us：　By　this　the　Nation　of　England　has　been　hitherto　Supported；　and　Trade　left　almost　to　it　self；　and　assisted　only　by　the　Natural　Advantages　above…mentioned；　brought　us　in　Plenty　and　Riches；　and　always　set　this　kingdom　in　a　rank　equal；　if　not　superior　to　any　of　its　Neighbours：　And　would　no　doubt　without　any　difficulty　have　continued　it　so；　if　the　more　enlarged；　and　better　understood　Interest　of　Trade；　since　the　Improvement　of　Navigation；　had　not　raised　us　many　Rivals；　and　the　amazing　Politicks　of　some　late　Reigns；　let　in　other　Competitors　with　us　for　the　Sea；　who　will　be　sure　to　seize　to　themselves　whatever　parts　of　Trade　our　ismanagement；　or　want　of　Money；　shall　let　slip　out　of　our　Hands：　And　when　it　is　once　lost；　'will　be　too　late　to　hope；　by　a　mistim'd　Care；　easily　to　retrieve　it　again。　For　the　Currents　of　rade；　like　those　of　Waters；　ake　themselves　Channels；　out　of　which　they　are　afterwards　as　hard　to　be　diverted；　as　Rivers　that　have　worn　themselves　deep　within　their　Banks。　　　　　Trade　then　is　necessary　to　the　producing　of　Riches；　and　Money　necessary　to　the　carrying　on　of　Trade。　This　is　principally　to　be　looked　after　and　taken　Care　of。　For　if　this　be　neglected；　we　shall　in　vain；　by　Contrivances　amongst　our　selves；　and　shuffling　the　little　Money　we　have　from　one　anothers　Hands；　endeavour　to　prevent　our　Wants：　Decay　of　Trade　will　quickly　waste　all　the　Remainder；　and　then　the　Landed…Man；　who　thinks　perhaps　by　the　fall　of　Interest　to　raise　the　Value　of　his　Land；　will　find　himself　cruelly　mistaken；　when　the　Money　being　gone；　（as　it　will　be　if　our　Trade　be　not　kept　up）　he　can　get　neither　Farmer　to　Rent；　nor　Purchaser　to　Buy　his　Land。　Whatsoever　therefore　hinders　the　Lending　of　Money；　injures　Trade：　And　so　the　reducing　of　Money；　to　Four　per　Cent。　which　will　discourage　Men　from　Lending；　will　be　a　Loss　to　the　Kingdom；　in　stopping　so　much　ofthe　Current　ofMoney；　which　turns　the　Wheels　ofTrade。　But　all　this　upon　a　Supposition；　that　the　Lender　and　Borrower　are　both　English　Men。　　　　　If　the　Lender　be　a　Foreigner；　by　lessening　Interest　from　Six　to　Four　you　get　to　the　Kingdom　one　third　part　ofthe　Interest　we　pay　Yearly　to　Foreigners：　Which　let　any　one　if　he　please　think　considerable。　But　then　upon　lessening　Interest　to　Four　per　Cent。　it　is　likely　one　of　these　things　will　happen。　That　either　you　fall　the　Price　of　your　Native　Commodities；　Or　lessen　your　Trade；　Or　else　prevent　not　the　high　Use　as　you　intended。　For　at　the　time　of　lessening　your　Interest；　you　want　Money