Bacon's Essays, and Wisdom of the AncientsBacon, Francis
Philosophy
Bacon's Essays, and Wisdom of the Ancients
Bacon, Francis
Bacon, Francis, 1561-1626; English essays -- Early modern, 1500-1700; Mythology, Classical
[444] Our author was one of the earliest writers who treated the
question of the interest of money with the enlightened views of a
statesman and an economist. The taking of interest was considered, in
his time, immoral.
Laws on this matter are extremely ancient. Moses forbids the Jews to
require interest of each other. “Thou shalt not lend upon usury to thy
brother; usury of money, usury of victuals, usury of any thing that is
lent upon usury:
“Unto a stranger thou mayest lend upon usury; but unto thy brother thou
shalt not lend upon usury.”—_Deut._ xxiii. 19, 20.
Among the Greeks, the rate of interest was settled by agreement between
the borrower and the lender, without any interference of the law. The
customary rate varied from ten to thirty-three and one third per cent.
The Romans enacted laws against usurious interest; but their legal
interest, admitted by the law of the Twelve Tables, was, according to
some, twelve per cent., or, to others, one twelfth of the capital, i. e.
eight and one third per cent. Justinian reduced it to six per cent.
In England, the legal rate of interest was, in Henry the Eighth’s
reign, ten per cent. It was reduced, in 1624, to eight per cent. It
was further diminished, in 1672, to six per cent. And definitively, in
1713, fixed at five per cent., the ordinary rate of interest throughout
Europe. In France, the rates of interest have been nearly similar at
the same periods.
[445] “He passed his youth full of errors, of madness even.”—_Spartian.
Vit. Sev._
[446] He was nephew of Louis the Twelfth of France, and commanded the
French armies in Italy against the Spaniards. After a brilliant career,
he was killed at the battle of Ravenna, in 1512.
[447] Joel ii. 28, quoted Acts ii. 17.
[448] He lived in the second century after Christ, and is said to have
lost his memory at the age of twenty-five.
[449] “He remained the same, but _with the advance of years_ was not so
becoming.”—_Cic. Brut._ 95.
[450] “The close was unequal to the beginning.” This quotation is not
correct; the words are: “Memorabilior prima pars vitæ quam postrema
fuit,”—“The first part of his life was more distinguished than the
latter.”—_Livy_ xxxviii. ch. 53.
[451] By the context, he would seem to consider “great spirit” and
“virtue” as convertible terms. Edward IV., however, has no claim to be
considered as a virtuous or magnanimous man, though he possessed great
physical courage.
[452] Features.
[453] “The autumn of the beautiful is beautiful.”
[454] By making allowances.
[455] Rom. i. 31; 2 Tim. iii. 3.
[456] “Where she errs in the one, she ventures in the other.”
[457] Spies.
[458] Solyman the Magnificent, Sultan of the Turks.
[459] Site.
[460] Knoll.
[461] Have a liking for cheerful society. Momus being the god of mirth.
[462] Eats up.
[463] Plut. Vit. Lucull. 39.
[464] A vast edifice, about twenty miles from Madrid, founded by Philip
II.
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