defence of usury-第9部分

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er　argument　against　it；　I　believe；　was　never　attempted；　unless　it　were　the　giving　to　such　an　arrangement　the　epithet　of　a　hard　one：　in　doing　which；　something　more　like　a　reason　is　given；　than　one　gets　in　ordinary　from　the　common　law。　　　　　If　that　consistency　were　to　be　found　in　the　common　law；　which　has　never　yet　been　found　in　man's　conduct；　and　which　perhaps　is　hardly　in　man's　nature；　compound　interest　never　could　have　been　denied。　　　　　The　views　which　suggested　this　denial；　were；　I　dare　to　say；　very　good：　the　effects　of　it　are；　I　am　certain；　very　pernicious。　　　　　If　the　borrower　pays　the　interest　at　the　day；　if　he　performs　his　engagement；　that　very　engagement　to　which　the　aw　pretends　to　oblige　him　to　conform；　the　lender；　who　receives　that　interest；　makes　compound　interest　of　course；　by　lending　it　out　again；　unless　he　chooses　rather　to　expend　it：　he　expects　to　receive　it　at　the　day；　or　what　meant　the　engagement？　if　he　fails　of　receiving　it；　he　is　by　so　much　a　loser。　The　borrower；　by　paying　it　at　the　day；　is　no　loser：　if　he　does　not　pay　it　at　the　day；　he　is　by　so　much　a　gainer：　a　pain　of　disappointment　takes　place　in　the　case　of　the　one；　while　no　such　pain　takes　place　in　the　case　of　the　other。　The　cause　of　him　whose　contention　is　to　catch　a　gain；　is　thus　preferred　to　that　of　him　whose　contention　is　to　avoid　a　loss：　contrary　to　the　reasonable　and　useful　maxim　of　that　branch　of　the　common　law　which　has　acquired　the　name　of　equity。　The　gain；　which　the　law　in　its　tenderness　thus　bestows　on　the　defaulter；　is　an　encouragement；　a　reward；　which　it　holds　out　for　breach　of　faith；　for　iniquity；　for　indolence；　for　negligence。　　　　　The　loss；　which　it　thus　throws　upon　the　forbearing　lender；　is　a　punishment　which　it　inflicts　on　him　for　his　forbearance：　the　power　which　it　gives　him　of　avoiding　that　loss；　by　prosecuting　the　borrower　upon　the　instant　of　failure；　is　thus　converted　into　a　reward　which　it　holds　out　to　him　for　his　hard…heartedness　and　rigour。　Man　is　not　quite　so　good　as　it　were　to　be　wished　he　were；　but　he　would　be　bad　indeed；　were　he　bad　on　all　the　occasions　where　the　law；　as　far　as　depends　on　her；　has　made　it　his　interest　so　to　be。　　　　　It　may　be　impossible；　say　you；　it　often　is　impossible；　for　the　borrower　to　pay　the　interest　at　the　day：　and　you　say　truly。　What　is　the　inference？　That　the　creditor　should　not　have　it　in　his　power　to　ruin　the　debtor　for　not　paying　at　the　day；　and　that　he　should　receive　a　compensation　for　the　loss　occasioned　by　such　failure。　　He　has　it　in　his　power　to　ruin　him；　and　he　has　it　not　in　his　power　to　obtain　such　compensation。　The　judge；　were　it　possible　for　a　arrested　debtor　to　find　his　way　into　a　judge's　chamber　instead　of　a　spunging…house；　might　award　a　proper　respite；　suited　to　the　circumstances　of　the　parties。　It　is　not　possible：　but　a　respite　is　purchased；　proper　or　not　proper；　perhaps　at　ten　times；　perhaps　at　a　hundred　times　the　expence　of　compound　interest；　by　putting　in　bail；　and　fighting　the　creditor　through　all　the　windings　of　mischievous　and　unnecessary　delay。　Of　the　satisfaction　due　either　for　the　original　failure；　or　for　the　subsequent　vexation　by　which　it　has　been　aggravated；　no　part　is　ever　received　by　the　injured　creditor：　but　the　instruments　of　the　law　receive；　perhaps　at　his　expence；　perhaps　at　the　debtor's；　perhaps　ten　times；　perhaps　a　hundred　times　the　amount　of　that　satisfaction。　Such　is　the　result　of　this　tenderness　of　the　law。　　　　　It　is　in　consequence　of　such　tenderness　that　on　so　many　occasions　a　man；　though　ever　so　able；　would　find　himself　a　loser　by　paying　his　just　debts：　those　very　debts　of　which。　the　law　has　recognized　the　justice。　The　man　who　obeys　the　dictates　of　common　honesty；　the　man　who　does　what　the　law　pretends　to　bid　him；　is　wanting　to　himself。　Hence　your　regular　and　securely　profitable　writs　of　error　in　the　house　of　lords：　hence　your　random　and　vindictive　costs　of　one　hundred　pounds；　and　two　hundred　pounds；　now　and　then　given　in　that　house。　It　is　natural；　and　it　is　something；　to　find；　in　a　company　of　lords；　a　zeal　for　justice：　it　is　not　natural；　to　find；　in　such　a　company；　a　disposition　to　bend　down　to　the　toil　of　calculation。

　LETTER　XII　　Maintenance　and　Champerty。

　　　　Having　in　the　preceding　letters　had　occasion　to　lay　down；　and；　as　I　flatter　myself；　to　make　good；　the　general　principle；　that　no　man　of　ripe　years；　and　of　sound　mind；　ought；　out　of　loving　kindness　to　him；　to　be　hindered　from　making　such　bargain；　in　the　way　of　obtaining　money；　as；　acting　with　his　eyes　open；　he　deems　conducive　to　his　interest；　I　will　take　your　leave　for　pushing　it　a　little　farther；　and　extending　the　application　of　it　to　another　class　of　regulations　still　less　defensible。　I　mean　the　antique　laws　against　what　are　called　Maintenance　and　Champerty。　　　　　To　the　head　of　Maintenance；　I　think　you　refer；　besides　other　offences　which　are　not　to　the　present　purpose；　that　of　purchasing；　upon　any　terms；　any　claim；　which　it　requires　a　suit　at　law；　or　in　equity；　to　enforce。　　　　　Champerty；　which　is　but　a　particular　modification　of　this　sin　of　Maintenance；　is；　I　think；　the　furnishing　a　man　who　has　such　a　claim；　with　regard　to　a　real　estate；　such　money　as　he　may　have　occasion　for；　to　carry　on　such　claim；　upon　the　terms　of　receiving　a　part　of　the　estate　in　case　of　success。　　　　　What　the　penalties　are　for　these　offences　I　do　not　recollect；　nor　do　I　think　it　worth　while　hunting　for　them；　though　I　have　Blackstone　at　my　elbow。　They　are；　at　any　rate；　sufficiently　severe　to　answer　the　purpose；　the　rather　as　the　bargain　is　made　void。　　　　　To　illustrate　the　mischievousness　of　the　laws　by　which　they　have　been　created；　give　me　leave　to　tell　you　a　story；　which　is　but　too　true　an　one；　and　which　happened　to　fall　within　my　own　observation。　　　　　A　gentleman　of　my　acquaintance　had　succeeded；　during　his　minority；　to　an　estate　of　about　*3；000　a　year；　I　won't　say　where。　His　guardian；　concealing　from　him　the　value　of　the　estate；　which　circumstances　rendered　it　easy　for　him　to　do；　got　a　conveyance　of　it　from　him；　during　his　nonage；　for　a　trifle。　Immediately　upon　the　ward's　coming　of　age；　the　guardian；　keeping　him　still　in　darkness；　found　means　to　get　the　conveyance　confirmed。　Some　years　afterwards；　the　ward　discovered　the　value　of　the　inheritance　he　had　been　throwing　away。　Private　representations　proving；　as　it　may　be　imagined；　ineffectual；　he　applied　to　a　court　of　equity。　The　suit　was　in　some　forwardness：　the　opinion　of　the　ablest　counsel　highly　encouraging：　but　money　there　remained　none。　We　all　know　but　too　well；　that；　in　spite　of　the　unimpeachable　integrity　of　the　bench；　that　branch　of　justice；　which　is　particularly　dignified　with　the　name　of　equity；　is　only　for　those　who　can　afford　to　throw　away　one　fortune　for　the　chance　of　recovering　another。　Two　persons；　however；　were　found；　who；　between　them；　were　content　to　defray　the　expence　of　the　ticket　for　this　lottery；　on　condition　of　receiving　half　the　prize。　The　prospect　now　became　encouraging：　when　unfortunately　one　of　the　adventurers；　in　exploring　the　recesses　of　the　bottomless　pit；　happened　to　dig　up　one　of　the　old　statutes　against　Champerty。　This　blew　up　the　whole　project：　however　the　defendant；　understanding　that；　some　how　or　other；　his　antagonist　had　found　support；　had　thought　fit　in　the　mean　time　to　propose　terms；　which　the　plaintiff；　after　his　support　had　thus　dropped　from　under　him；　was　very　glad　to　close　with。　He　received；　I　think　it　was；　*3；000：　and　for　that　he　gave　up　the　estate；　which　was　worth　about　as　much　yearly；　together　with　the　arrears；　which　were　worth　about　as　much　as　the　estate。　　　　　Whether；　in　the　barbarous　age　which　gave　birth　to　these　barbarous　precautions；　whether；　even　under　the　zenith　of　feudal　anarchy；　such　fettering　regulations　could　have　had　reason　on　their　side；　is　a　question　of　curiosity　rather　than　use。　My　notion　is；　that　there　never　was　a　time；　that　there　never　could　have　been；　or　can　be　a　time；　when　the　pushing　of　suitors　away　from　court　with　one　hand；　while　they　are　beckoned　into。　it　with　another；　would　not　be　a　policy　equally　faithless；　inconsistent；　and　absurd。　But；　what　every　body　must　acknowledge；　is；　that；　to　the　times　which　called　forth　these　laws；　and　in　which　alone　they　could　have　started　up；　the　present　are　as　opposite　as　light　to　darkness。　A　mischief；　in　those　times；　it　seems；　but　too　common；　though　a　mischief　not　to　be　cured　by　such　laws；　was；　that　a　man　would　buy　a　weak　claim；　in　hopes　that　power。　might　convert　it　into　a　strong　one；　and　that　the　sword　of　a　baron；　stalking　into　court　with　a　rabble　of　retainers　at　his　heels；　might　strike　terror　into　the　eyes　of　a　judge　upon　the　bench。　At　present；　what　cares　an　English　judge　for　the　swords　of　an　hundred　barons？　　Neither　fearing　nor　hoping；　hating　nor　loving；　the　judge　of　our　days　is　ready　with　equal　phlegm　to　administer；　upon　all　occasions；　that　system；　whatever　it　be；　of　justice；　or　injustice；　which　the　law　has　put　into　his　hands。　A　disposition　so　consonant　to　duty　could　not　have　then　been　hoped　for　one　more　consonant　is　hardly　to　be　wished。　Wealth　has　indeed　the　monopoly　of　justice　against　poverty：　and　such　monopoly　it　is　the　direct　tendency　and　necessary　effect　of　regulations　like　these　to　strengthen　and　confirm。　But　with　this　monopoly　no　judge　that　lives　now　is　at　all　chargeable。　The　law　created　this　monopoly：　the　law；　whenever　it　pleases；　may　dissolve　it。　　　　　I　will　not　however　so　far　wander　from　my　subject　as　to　enquire　what　measure　might　have　been　necessary　to　afford　a　full　relief　to　the　case　of　that　unfortunate　gentleman；　any　more　than　to　the　cases　of　so　many　other　gentlemen　who　might　be　found；　as　unfortunate　as　he。　I　will　not　insist　upon　so　strange　and　so　inconceivable　an　arrangement；　as　that　of　the　judge's　seeing　both　parties　face　to　face　in　the　first　instance；　observing　what　the　facts　are　in　dispute；　and　declaring；　that　as　the　facts　should　turn　out　this　way　or　that　way；　such　or　such　would　be　his　decree。　At　present；　I　confine　myself　to　the　removal　of　such　part　of　the　mischief；　as　may　arise　from　the　general　conceit　of　keeping　men　out　of　difficulties；　by　cutting　them　off　from　such　means　of　relief　as　each　man's　situation　may　afford。　A　spunge　in　this；　as　in　so　many　other　cases；　is　the　only　needful；　and　only　availing　remedy：　one　stroke　of　it　for　the　musty　laws　against　maintenance　and　champerty：　a