Selected quad for the lemma: truth_n
Text snippets containing the quad
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A35410
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Several objections against the reducement of interest propounded in a letter with the Answer thereunto.
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Culpeper, Thomas, Sir, 1626-1697.; Brown, Ignatius, 1630-1679.; R. W.
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1671
(1671)
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Wing C7562; ESTC R24113
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6,215
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10
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others who being engaged in Callings and Employments scarce consistent with Countrey Affairs or Forrain Traffick may prudently enough continue to lend at a lower rate rather then entangle them with such variety of Concernments And may there still be good store of those who meerly guided by their natural Arithmetick do now betake themselves to Interest for its many present advantages but were the tide and stream of Profit turned would certainly row and Sayle with it He that was sent to discover the strength of the French-Army at Agencourt â—eturned with this auspicious verdict that there were enough to Kill to take and to â—scape by flight So were the gain of lending now reduced to a nearer correspondence with that of other dealings by the same good omen it might soon appear that among our Legions of Creditours there would be enough greatly to raise the value of our Lands â—y purchasing Enough vastly to agument the bulk of our commerce by Trading and â—et enough if not too many to Lend at Interest However our comfort is they would â—en Live and let Live this being the principal end herein aimed at and indeed most â—â—portant to the Commonwealth that such as will not use their own stock may if not â—or private conscience yet for publick good afford a Pennyworth to those that manage for them of whom it is certain that now in husbandry at least not one of twenty â—oth or can with his best conduâ—â— thrive But in truth this objection of prejudicing â—ebtours by the sudden and general calling in of sums for better employment answers it â—elf by granting all that is required For who sees not that such a summons necessarily imâ—orts great store of Purchasing whereby the Market of our Lands would be exceeding â—ickned all that have Estates to more in value then their debts abundantly gratified for â—eir trouble if any they should receive and enabled to relieve themselves by â—onvenient sale And the Gentry being this in good measure disenthralled Borâ—â—wing would soon become more easie and tolerable to Tradesmen who now â—â—stly complain that Credit is almost engrossed by Land Certainly the Notion of ruiâ—â—ng Borrowers by abatement of Interest if the parties concerned would vouchsafe to â—â—nsider it is not much unlike that of undoing Tenants by letting them good pennyâ—orths and punishing Landlords with ease of their Taxes It were not unreasonable to suppose that well-advised Creditours finding they canâ—â—t mend their rate liking their security and naturally both fearing hazard and loathâ—â—g trouble perhaps the most of any would be as backward to demand their Princiâ—â— as Borrowers to provide it since the difficulty of well placing a sum proves commonly â—ow a dayes equal in effect with that of procuring it So generally do Credit and Secuâ—y go hand in hand being as was said before perfect Relatives Yet to leave nothing considered but even if possible prevent the doubts of all such as do not either affectedly â—take Scruple for Wisdom or are naturally afraid of their own shadows whom miracles â—ly can convince I refer the unsatisfied to the wise provision and president of former â—tutes for abatement of Interest whereby the Reducement takes place only in new and succeeding contracts the former Rate being still permitted where the Security is noâ— altered Upon which Account much Credit in this Kingdome is yet legally continued â— eight per cent if not to the Profit yet to the presumed Ease of Borrowers in whose option it rests Thus would the wise Lender be further bribed so compliance as it were with the yearly Brokage of two per Cent. Debtours that have or can procure Credit would be forthwith considerably relieved in their constant payments others equally 〈◊〉 their trouble and necessary Charges And the suffering in comparison of the gaining Boâ—rowers must needs be if any not one to a hundred Having thus as briefly 〈◊〉 I could delivered you my sense I Remain SIR Your Faithfull Servant R. W. FINIS