Suppose two men exchange two services or two objects, whose equal value
is beyond all dispute. Suppose, for example, Peter says to Paul, "Give
me ten sixpences, I will give you a five-shilling piece." We cannot
imagine an equal value more unquestionable. When the bargain is made,
neither party has any claim upon the other. The exchanged services are
equal. Thus it follows, that if one of the parties wishes to introduce
into the bargain an additional clause, advantageous to himself, but
unfavourable to the other party, he must agree to a second clause, which
shall re-establish the equilibrium, and the law of justice. It would be
absurd to deny the justice of a second clause of compensation. This
granted, we will suppose that Peter, after having said to Paul, "Give me
ten sixpences, I will give you a crown," adds, "You shall give me the
ten sixpences _now_, and I will give you the crown-piece _in a year_;"
it is very evident that this new proposition alters the claims and
advantages of the bargain; that it alters the proportion of the two
services. Does it not appear plainly enough, in fact, that Peter asks of
Paul a new and an additional service; one of a different kind? Is it not
as if he had said, "Render me the service of allowing me to use for my
profit, for a year, five shillings which belong to you, and which you
might have used for yourself?" And what good reason have you to maintain
that Paul is bound to render this especial service gratuitously; that he
has no right to demand anything more in consequence of this requisition;
that the State ought to interfere to force him to submit? Is it not
incomprehensible that the economist, who preaches such a doctrine to the
people, can reconcile it with his principle of _the reciprocity of
services_? Here I have introduced cash; I have been led to do so by a
desire to place, side by side, two objects of exchange, of a perfect and
indisputable equality of value. I was anxious to be prepared for
objections; but, on the other hand, my demonstration would have been
more striking still, if I had illustrated my principle by an agreement
for exchanging the services or the productions themselves.
Public-domain text, read in full here on John Shaqi.
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