English literature -- History and criticism; Literature -- Anecdotes; Litterateurs
A person whose history will serve as a canvass to exhibit some scenes of
the arts of the money-trader was one AUDLEY, a lawyer, and a great
practical philosopher, who concentrated his vigorous faculties in the
science of the relative value of money. He flourished through the reigns
of James I., Charles I., and held a lucrative office in the "court of
wards," till that singular court was abolished at the time of the
Restoration.[72] In his own times he was called "The great Audley," an
epithet so often abused, and here applied to the creation of enormous
wealth. But there are minds of great capacity, concealed by the nature
of their pursuits; and the wealth of Audley may be considered as the
cloudy medium through which a bright genius shone, and which, had it
been thrown into a nobler sphere of action, the "greatness" would have
been less ambiguous.
Audley lived at a time when divines were proclaiming "the detestable sin
of Usury," prohibited by God and man; but the Mosaic prohibition was the
municipal law of an agricultural commonwealth, which being without
trade, the general poverty of its members could afford no interest for
loans; but it was not forbidden the Israelite to take usury from "the
stranger." Or they were quoting from the Fathers, who understood this
point, much as they had that of "original sin," and "the immaculate
conception;" while the scholastics amused themselves with a quaint and
collegiate fancy which they had picked up in Aristotle, that interest
for money had been forbidden by nature, because coin in itself was
barren and unpropagating, unlike corn, of which every grain will produce
many. But Audley considered no doubt that money was not incapable of
multiplying itself, provided it was in hands which knew to make it grow
and "breed," as Shylock affirmed. The lawyers then, however, did not
agree with the divines, nor the college philosophers; they were
straining at a more liberal interpretation of this odious term "Usury."
Lord Bacon declared, that the suppression of Usury is only fit for an
Utopian government; and Audley must have agreed with the learned Cowell,
who in his "Interpreter" derives the term ab _usu_ et _ære_, quasi _usu
æra_, which in our vernacular style was corrupted into _Usury_. Whatever
the _sin_ might be in the eye of some, it had become at least a
_controversial sin_, as Sir Symonds D'Ewes calls it, in his manuscript
Diary, who, however, was afraid to commit it.[73] Audley, no doubt,
considered that _interest_ was nothing more than _rent_ for _money_; as
_rent_ was no better than _Usury_ for _land_. The legal interest was
then "ten in the hundred;" but the thirty, the fifty, and the hundred
for the hundred, the gripe of Usury, and the shameless contrivances of
the money-traders, these he would attribute to the follies of others, or
to his own genius.
Public-domain text, read in full here on John Shaqi.
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