Usury : $b a scriptural, ethical and economic viewElliott, Calvin
Religion
Usury : $b a scriptural, ethical and economic view
Elliott, Calvin
Usury
Another mathematical genius says, had one cent been loaned on the first
day of January A.D. 1, interest being allowed at the rate of six per
cent. compounded yearly, then 1895 years later--that is on January 1,
1895--the amount due would be $8,497,840,000,000,000,000,000,000,
000,000,000,000,000,000,000 (8,497,840,000 decillions). If it were
desired to pay this in gold, 23.2 grains to the dollar, then taking
spheres of pure gold the size of the earth, it would take
610,070,000,000,000,000 to pay for that cent. Placing these spheres in a
straight row, their combined length would be 4,826,870,000,000,000,000
miles, a distance which it would take light (going at the rate of
186,330 miles per second) 820,890,000 years to travel.
The planets and stars of the entire solar and stellar universe, as
seen by the great Lick telescope, if they were all in solid gold,
would not nearly pay the amount. A single sphere to pay the whole
amount, if placed with its centre at the sun, would have its surface
extending 563,580,000 miles beyond the orbit of the planet Neptune,
the farthest in our system.
It may be added that if the earth had contained a population of ten
billions, each one making a million dollars a second, then to pay for
that cent it would have required their combined earnings for
26,938,500,000,000,000,000,000 years.
Anyone can figure on this and see if it be correct.
Had Peter only thought to put one cent at interest, there would be no
call now for Peter's pence.
With any accretion allowed, the concentration of wealth is
irresistible. However small the amount of capital, if permitted to
grow at any rate of increase it will ultimately absorb everything. Any
finite quantity permitted any finite rate of increase, will, in finite
time, gather all that is less than infinite.
The only difficulty in this accretion is to secure debtors that will
not die. We inherit the property of our fathers, but fortunately we do
not inherit their personal debts. This difficulty is being overcome by
bonds of corporations and nations that live on, though the individuals
composing them may, age after age, pass away. This makes the increase
perpetual. Generations may come and go, but the concentration of
wealth goes uninterruptedly on.
This is not visionary theory, but is shown in the practical results
everywhere apparent.
The usurers of England, a little over two hundred years ago, secured a
charter for a bank on the condition that they loan the crown or
government 1,200,000 pounds sterling, about six million dollars.
Public-domain text, read in full here on John Shaqi.
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