The interest of the Malabar widow, who burns herself with the corpse of
her husband, is to recover him in another world, and be there more happy
even than the fakir. For, together with their metempsychosis, the
Indians have another world; they resemble ourselves; their system admits
of contradictions.
Were you ever acquainted with any king or republic that made either war
or peace, that issued decrees, or entered into conventions, from any
other motive than that of interest?
With respect to the interest of money, consult, in the great
"Encyclopædia," the article of M. d'Alembert, on "Calculation," and that
of M. Boucher d'Argis, on "Jurisprudence." We will venture to add a few
reflections.
1. Are gold and silver merchandise? Yes; the author of the "Spirit of
Laws" does not think so when he says: "Money, which is the price of
commodities, is hired and not bought."
It is both lent and bought. I buy gold with silver, and silver with
gold; and their price fluctuates in all commercial countries from day to
day.
The law of Holland requires bills of exchange to be paid in the silver
coin of the country, and not in gold, if the creditor demands it. Then I
buy silver money, and I pay for it in gold, or in cloth, corn, or
diamonds.
I am in want of money, corn, or diamonds, for the space of a year; the
corn, money, or diamond merchant says--I could, for this year, sell my
money, corn, or diamonds to advantage. Let us estimate at four, five, or
six per cent., according to the usage of the country, what I should lose
by letting you have it. You shall, for instance, return me at the end of
the year, twenty-one carats of diamonds for the twenty which I now lend
you; twenty-one sacks of corn for the twenty; twenty-one thousand crowns
for twenty thousand crowns. Such is interest. It is established among
all nations by the law of nature. The maximum or highest rate of
interest depends, in every country, on its own particular law. In Rome
money is lent on pledges at two and a half per cent., according to law,
and the pledges are sold, if the money be not paid at the appointed
time. I do not lend upon pledges, and I require only the interest
customary in Holland. If I were in China, I should ask of you the
customary interest at Macao and Canton.
2. While the parties were proceeding with this bargain at Amsterdam, it
happened that there arrived from St. Magliore, a Jansenist (and the fact
is perfectly true, he was called the Abbé des Issarts); this Jansenist
says to the Dutch merchant, "Take care what you are about; you are
absolutely incurring damnation; money must not produce money, '_nummus
nummum non parit_.' No one is allowed to receive interest for his money
but when he is willing to sink the principal. The way to be saved is to
make a contract with the gentleman; and for twenty thousand crowns which
you are never to have returned to you, you and your heirs will receive a
thousand crowns per annum to all eternity."