Selected quad for the lemma: cause_n
Text snippets containing the quad
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Corrected Date of Publication (TCP Date of Publication) |
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B23805
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Reasons for the abatement of interest to four in the hundred and the objections against it fairly stated and briefly and fully answered / by E.H.
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E. H.
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1692
(1692)
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Wing H21
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18,351
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71
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be_v anticipate_v upon_o a_o borrow_a clause_n shall_v soon_o be_v bring_v in_o and_o that_o will_v be_v of_o great_a use_n to_o the_o nation_n so_o that_o what_o be_v here_o urge_v against_o lessen_v use_n be_v when_o well_o weigh_v a_o very_a strong_a reason_n for_o it_o but_o what_o if_o money_n shall_v flow_v in_o will_v it_o not_o find_v a_o way_n out_o have_v we_o any_o ground_n to_o fear_n it_o will_v be_v lock_v up_o there_o i_o be_o sure_a there_o be_v no_o such_o danger_n in_o time_n of_o peace_n and_o much_o less_o during_o a_o chargeable_a war._n object_n 7._o that_o widow_n and_o orphan_n will_v suffer_v much_o by_o a_o abatement_n of_o interest_n those_o who_o have_v sixty_o pound_v a_o year_n for_o a_o 1000_o l._n will_v then_o have_v but_o forty_o answ_n i_o answer_v thus_o this_o will_v not_o be_v a_o general_a prejudice_n because_o they_o be_v few_o in_o number_n in_o respect_n of_o the_o whole_a nation_n for_o they_o be_v scarce_o one_o to_o twenty_o of_o the_o whole_a people_n and_o of_o those_o not_o one_o in_o forty_o will_v suffer_v by_o a_o abatement_n of_o interest_n for_o these_o reason_n many_o of_o they_o have_v land_n or_o annuity_n and_o such_o person_n may_v gain_v more_o by_o the_o rise_n of_o land_n than_o they_o will_v lose_v by_o the_o fall_n of_o use-money_n many_o executor_n allow_v orphan_n no_o interest_n and_o yet_o justify_v themselves_o by_o law_n to_o such_o orphan_n it_o will_v be_v no_o damage_n to_o lessen_v the_o legal_a rate_n of_o interest_n their_o portion_n will_v be_v of_o the_o same_o esteem_n and_o of_o the_o same_o value_n to_o buy_v every_o thing_n except_o land_n and_o they_o be_v never_o give_v they_o with_o that_o intent_n for_o than_o their_o parent_n may_v as_o well_o have_v give_v they_o land_n so_o that_o it_o be_v only_o the_o income_n of_o their_o portion_n that_o will_v be_v lessen_v and_o that_o but_o for_o a_o short_a time_n till_o the_o young_a man_n set_v up_o their_o trade_n or_o till_o the_o maiden_n or_o widow_n marry_v but_o how_o severe_a soever_o the_o lower_a of_o interest_n from_o six_o to_o four_o in_o the_o hundred_o may_v be_v to_o widow_n orphan_n or_o young_a brother_n yet_o they_o will_v have_v as_o much_o rent_n for_o their_o money_n as_o the_o gentry_n and_o their_o elder_a brother_n have_v for_o their_o land_n for_o the_o land_n of_o england_n do_v not_o yield_v four_o in_o the_o hundred_o after_o interest_n be_v reduce_v to_o four_o in_o the_o hunnred_n many_o will_v leave_v their_o child_n annuity_n or_o estate_n run_v in_o trade_n as_o they_o do_v in_o holland_n and_o italy_n whereby_o the_o abatement_n of_o interest_n will_v become_v profitable_a not_o prejudicial_a to_o they_o and_o advantageous_a to_o the_o whole_a nation_n by_o enlarge_a trade_n object_n 8._o that_o gentleman_n must_v give_v more_o with_o their_o daughter_n for_o portion_n by_o which_o mean_v a_o great_a part_n of_o the_o inheritance_n of_o such_o gentleman_n estate_n will_v be_v lessen_v and_o more_o encumber_v answ_n this_o objection_n be_v found_v upon_o a_o supposition_n that_o the_o value_n of_o the_o principal_a money_n be_v sink_v and_o therefore_o they_o must_v give_v great_a portion_n but_o that_o be_v a_o mistake_n for_o 1000_o l._n will_v be_v as_o much_o value_v by_o a_o tradesman_n as_o it_o be_v now_o it_o will_v buy_v as_o much_o good_n of_o some_o sort_n more_o after_o usury_n be_v abate_v as_o it_o will_v now_o foreign_a stock_n or_o ware_n may_v be_v sell_v 2_o l._n per_fw-la cent._n cheap_a than_o now_o they_o can_v be_v afford_v for_o and_o the_o great_a part_n of_o the_o lady_n expense_n be_v in_o foreign_a ware_n so_o that_o they_o may_v then_o maintain_v themselves_o almost_o as_o well_o with_o forty_o pound_n a_o year_n as_o they_o can_v now_o with_o threescore_o but_o if_o large_a portion_n shall_v be_v requisite_a the_o gentleman_n will_v be_v better_a able_a to_o raise_v they_o for_o his_o rent_n will_v be_v better_o pay_v and_o his_o land_n will_v sell_v for_o a_o three_o part_n more_o so_o that_o his_o estate_n will_v be_v less_o encumber_v than_o before_o object_n 9_o other_o object_n that_o a_o abatement_n of_o interest_n by_o a_o law_n be_v not_o practicable_a nor_o will_v it_o be_v conducive_a to_o the_o end_n aim_v at_o though_o they_o confess_v a_o low_a interest_n do_v most_o encourage_v trade_n and_o advance_v land_n answ_n some_o man_n fancy_n that_o such_o a_o law_n will_v be_v only_o advantageous_a to_o scrivener_n who_o will_v have_v more_o for_o procuration_n and_o continuation_n if_o this_o shall_v happen_v though_o i_o see_v no_o reason_n for_o it_o the_o borrower_n may_v afford_v to_o give_v more_o to_o the_o scrivener_n when_o he_o pay_v less_o to_o the_o usurer_n interest_n have_v be_v abate_v twice_o in_o england_n by_o act_n of_o parliament_n within_o the_o space_n of_o fifty_o year_n with_o very_o good_a success_n and_o great_a advantage_n to_o the_o kingdom_n and_o what_o shall_v hinder_v its_o effect_n now_o more_o than_o former_o if_o a_o law_n will_v not_o do_v it_o why_o do_v the_o usurer_n always_o oppose_v the_o pass_n of_o a_o act_n to_o that_o purpose_n the_o true_a reason_n seem_v to_o be_v because_o they_o be_v wise_a enough_o to_o know_v that_o a_o law_n will_v certain_o do_v it_o as_o it_o have_v do_v already_o though_o they_o will_v persuade_v other_o to_o the_o contrary_n octject_n 10._o many_o assert_v that_o low_a interest_n be_v not_o the_o cause_n but_o the_o effect_n of_o riches_n or_o otherwise_o say_v they_o why_o be_v not_o all_o country_n rich_a they_o have_v it_o in_o their_o power_n to_o make_v themselves_o so_o by_o a_o low-stated_n interest_n by_o law_n answ_n that_o low_a interest_n be_v the_o cause_n of_o riches_n i_o appeal_v to_o the_o judgement_n of_o the_o parliament_n in_o the_o 21_o jac._n and_o of_o that_o in_o the_o 12_o car._n 2._o who_o ascribe_v the_o decay_n of_o trade_n the_o fall_n of_o rent_n the_o discouragement_n of_o all_o improvement_n and_o good_a husbandry_n to_o the_o height_n of_o interest_n and_o those_o wise_a consideration_n do_v induce_v they_o to_o pass_v two_o act_n as_o may_v be_v see_v by_o the_o preamble_n to_o the_o act_n reduce_v usury_n from_o ten_o to_o eight_o and_o from_o eight_o to_o six_o in_o the_o hundred_o the_o authority_n of_o so_o many_o wise_a and_o worthy_a patriot_n and_o the_o visible_a usefulness_n of_o those_o act_n confirm_v by_o seventy_o year_n experience_n be_v i_o doubt_v not_o of_o so_o great_a weight_n that_o no_o man_n without_o immodesty_n can_v deny_v that_o low_a interest_n be_v the_o cause_n of_o riches_n vide_fw-la p._n 31._o to_o p._n 39_o object_n 11._o last_o some_o allege_v that_o all_o the_o reason_n urge_v for_o reduce_v interest_n to_o four_o in_o the_o hundred_o will_v hold_v as_o strong_o against_o all_o usury_n answ_n to_o this_o i_o answer_v no_o for_o many_o improvement_n be_v make_v with_o borrow_a money_n and_o several_a considerable_a trade_n be_v carry_v on_o with_o loan_n which_o will_v fall_v or_o decay_n unless_o money_n can_v be_v have_v ready_o and_o free_o it_o be_v true_a if_o moneyed_a man_n will_v lend_v their_o money_n free_o and_o gratis_o upon_o all_o occasion_n then_o doubtless_o trade_n will_v flourish_v most_o and_o land_n be_v advance_v to_o its_o high_a value_n but_o since_o the_o usurer_n be_v not_o so_o public-spirited_a it_o be_v necessary_a that_o a_o moderate_a interest_n shall_v be_v allow_v to_o invite_v he_o to_o part_v with_o his_o money_n frank_o but_o why_o so_o great_a as_o to_o discourage_v trade_n and_o whole_o to_o depress_v land_n nay_o to_o exceed_v the_o rent_n of_o it_o i_o see_v no_o occasion_n my_o lord_n bacon_n in_o his_o time_n in_o his_o essay_n upon_o usury_n think_v it_o expedient_a that_o use_v shall_v be_v bring_v to_o 5_o l._n in_o the_o hundred_o and_o high_o reasonable_a that_o the_o rent_n of_o land_n shall_v always_o exceed_v the_o interest_n of_o money_n and_o i_o be_o sure_a at_o four_o in_o the_o hundred_o it_o will_v not_o do_v that_o i_o have_v now_o go_v through_o all_o the_o objection_n of_o moment_n that_o ever_o i_o can_v find_v in_o print_n or_o meet_v with_o in_o conversation_n i_o have_v answer_v every_o one_o of_o they_o distinct_o with_o as_o much_o brevity_n and_o perspicuity_n as_o possible_o i_o can_v if_o through_o inadvertency_n i_o have_v omit_v any_o i_o ask_v the_o reader_n be_v pardon_n how_o many_o more_o objection_n soever_o may_v occur_v this_o short_a answer_n will_v serve_v for_o all_o we_o have_v often_o and_o continual_o feel_v the_o good_a effect_n of_o a_o abatement_n of_o interest_n and_o therefore_o we_o may_v reasonable_o expect_v the_o like_a advantage_n the_o objection_n be_v the_o same_o then_o as_o now_o and_o can_v have_v no_o great_a force_n nor_o be_v of_o worse_a consequence_n i_o wish_v what_o be_v say_v may_v give_v satisfaction_n if_o it_o do_v not_o i_o hope_v this_o subject_a which_o be_v of_o so_o general_a concernment_n and_o public_a use_n to_o the_o whole_a nation_n will_v be_v better_o handle_v by_o a_o more_o acceptable_a and_o successful_a pen._n the_o conclusion_n the_o raise_v the_o value_n of_o land_n at_o this_o time_n seem_v most_o necessary_a the_o nation_n be_v engage_v in_o such_o a_o chargeable_a war_n for_o the_o land_n be_v the_o fund_z that_o ever_o have_v maintain_v and_o must_v still_o support_v and_o preserve_v the_o government_n have_v not_o all_o our_o late_a tax_n be_v raise_v upon_o land_n excise_n custom_n upon_o home-commodity_n which_o duty_n arise_v from_o the_o product_n of_o land_n or_o imposition_n upon_o foreign_a good_n the_o last_o of_o which_o do_v though_o not_o so_o immediate_o fall_v upon_o land_n for_o the_o gentry_n and_o consumer_n of_o foreign_a ware_n must_v pay_v at_o least_o so_o much_o dear_a as_o the_o duty_n amount_v to_o if_o the_o charge_n of_o our_o government_n and_o defence_n shall_v increase_v as_o they_o have_v late_o and_o i_o be_o afraid_a must_v still_o the_o power_n of_o france_n be_v so_o formidable_a and_o shall_v their_o majesty_n custom_n decline_v as_o they_o must_v unless_o we_o have_v a_o free_a and_o uninterrupted_a trade_n at_o sea_n than_o i_o will_v glad_o be_v inform_v from_o any_o projector_n how_o this_o happy_a settlement_n can_v be_v keep_v up_o or_o the_o french_a keep_v out_o without_o a_o general_n excise_n or_o a_o extraordinary_a great_a and_o last_a land-tax_n money_n must_v be_v grant_v in_o proportion_n to_o future_a exigency_n how_o great_a soever_o they_o may_v be_v there_o be_v no_o true_a englishman_n but_o will_v cheerful_o give_v his_o money_n when_o life_n fortune_n and_o family_n be_v at_o stake_n i_o need_v not_o remind_v any_o gentleman_n how_o rent_n fall_v and_o tenant_n break_v though_o very_o honest_a and_o industrious_a but_o one_o thing_n i_o desire_v all_o gentleman_n especial_o such_o who_o have_v no_o place_n to_o consider_v serious_o in_o what_o manner_n after_o what_o poor_a fashion_n they_o must_v live_v if_o but_o half_a of_o their_o estate_n be_v throw_v into_o their_o own_o hand_n i_o doubt_v they_o will_v find_v it_o very_o difficult_a to_o stock_n that_o half_a and_o when_o tax_n and_o all_o other_o charge_n be_v pay_v and_o the_o usual_a deduction_n make_v not_o to_o reckon_v casualty_n i_o fear_v they_o will_v see_v very_o little_a money_n nothing_o but_o a_o abatement_n of_o interest_n can_v effectual_o reach_v the_o usurer_n who_o must_v otherwise_o grow_v rich_a in_o time_n of_o war_n whilst_o other_o labour_v under_o heavy_a pressure_n in_o a_o word_n no_o law_n can_v be_v of_o great_a advantage_n to_o the_o nation_n than_o a_o act_n to_o reduce_v interest_n to_o 4_o l._n per_fw-la cent._n it_o will_v produce_v the_o most_o general_a good_a with_o the_o least_o private_a disadvantage_n it_o will_v give_v great_a satisfaction_n to_o the_o whole_a kingdom_n it_o will_v make_v a_o abundant_a recompensation_n for_o the_o great_a tax_n and_o heavy_a imposition_n which_o the_o necessity_n of_o public_a affair_n have_v require_v the_o parliament_n to_o lay_v upon_o the_o people_n and_o it_o will_v enable_v the_o landed-man_n to_o bear_v exceed_v tax_n with_o great_a ease_n and_o cheerfulness_n no_o consideration_n whatsoever_o have_v induce_v i_o to_o expose_v these_o line_n to_o public_a view_n and_o censure_n but_o the_o deep_a sense_n i_o have_v of_o the_o free-holder_n and_o farmer_n be_v poverty_n the_o visible_a decay_n of_o trade_n the_o prospect_n of_o the_o pitiful_a condition_n of_o the_o ancient_a nobility_n and_o gentry_n who_o have_v not_o be_v bring_v up_o to_o husbandry_n if_o once_o their_o whole_a estate_n shall_v be_v untenanted_a nothing_o else_o have_v bring_v this_o treatise_n forth_o therefore_o i_o hope_v if_o i_o be_v mistake_v in_o the_o remedy_n propound_v the_o candid_a and_o ingenuous_a reader_n will_v easy_o forgive_v i_o and_o acquaint_v the_o world_n with_o a_o more_o speedy_a and_o effectual_a way_n to_o raise_v the_o value_n of_o land_n and_o increase_v trade_n finis_fw-la