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take this usury, it keep us from forfeitures of mortgages and bonds. The third and last is, that it is a vanity to conceive that there would be ordinary borrowing without profit; and it is impossible to conceive the number of inconveniences that will ensue, if borrowing be cramped. Therefore to speak of the abolishing of usury is idle. All states have ever had it, in one kind or rate, or other. So as that opinion must be sent to Utopia.
To speak now of the reformation and reiglement of usury; how the discommodities of it may be best avoided, and the commodities retained. It appears by the balance of commodities and discommodities of usury, two things are to be reconciled. The one, that the tooth of usury be grinded, that it bite not too much; the other, that there be left open a means to invite moneyed men to lend to the merchants, for the continuing and quickening of trade. This cannot be done, except you introduce two several sorts of usury, a less and a greater. For if you reduce usury to one low rate, it will ease the common borrower, but the merchant will be to seek for money. And it is to be noted, that the trade of merchandize, being the most lucrative, may bear usury at a good rate; other contracts
To serve both intentions, the way would be briefly thus. That there be two rates of usury: the one free, and general for all; the other under license only, to certain persons and in certain places of merchandizing. First, therefore, let usury in general be reduced to five in the hundred; and let that rate be proclaimed to be free and current; and let the state shut itself out to take any penalty for the same. This will preserve borrowing from any general stop or dryness. This will ease infinite borrowers in the country. This will, in good part, raise the price of land, because land purchased at sixteen years' purchase will yield six in the hundred, and somewhat more; whereas this rate of interest yields but five. This by like reason will encourage and edge industrious and profitable improvements; because many will rather venture in that kind than take five in the hundred, especially having been used to greater profit. Secondly, let there be certain persons licensed to lend to known merchants upon usury at a higher rate; and let it be with the cau6 Sir Thomas More's imaginary ideal commonwealth.
tions following. Let the rate be, even with the merchant himself, somewhat more easy than that he used formerly to pay; for by that means all borrowers shall have some ease by this reformation, be he merchant, or whosoever. Let it be no bank or common stock, but every man be master of his own money. Not that I altogether mislike banks, but they will hardly be brooked, in regard of certain suspicions. Let the state be answered some small matter for the license, and the rest left to the lender; for if the abatement be but small, it will no whit discourage the lender. For he, for example, that took before ten or nine in the hundred, will sooner descend to eight in the hundred than give over his trade of usury, and go from certain gains to gains of hazard. Let these licensed lenders be in number indefinite, but restrained to certain principal cities and towns of merchandizing; for then they will be hardly able to color other men's moneys in the country: so as the license of nine will not suck away the current rate of five; for no man will lend his moneys far off, nor put them into unknown hands.
If it be objected that this doth in a sort authorize usury, which before was in some places but permissive; the answer is, that it is better to mitigate usury by declaration, than to suffer it to rage by connivance.
OF YOUTH AND AGE
A MAN that is young in years may be old in hours, if he have lost no time. But that happeneth rarely. Generally, youth is like the first cogitations, not so wise as the second. For there is a youth in thoughts, as well as in ages. And yet the invention of young men is more lively than that of old; and imaginations stream into their minds better, and as it were more divinely. Natures that have much heat and great and violent desires and perturbations are not ripe for action till they have passed the meridian of their years; as it was with Julius Cæsar and Septimius Severus. Of the latter of whom it is said, Juventutem egit erroribus, imo furoribus, plenam [He passed youth full of errors, yea of madnesses]. And yet he was the ablest peror, almost, of all the list. But reposed natures may do well in
youth. As it is seen in Augustus Casar, Cosmus Duke of Florence, Gaston de Foix, and others. On the other side, heat and vivacity in age is an excellent composition for business. Young men are fitter to invent than to judge; fitter for execution than for counsel; and fitter for new projects than for settled business. For the experience of age, in things that fall within the compass of it, directeth them; but in new things, abuseth' them. The errors of young men are the ruin of business; but the errors of aged men amount but to this, that more might have been done, or sooner. Young men, in the conduct and manage of actions, embrace more than they can hold; stir more than they can quiet; fly to the end, without consideration of the means and degrees; pursue some few principles which they have chanced upon absurdly; care not to2 innovate, which draws unknown inconveniences; use extreme remedies at first; and that which doubleth all errors will not acknowledge or retract them; like an unready horse, that will neither stop nor turn. Men of age object too much, consult too long, adventure too little, repent too soon, and seldom drive business home to the full period,* but content themselves with a mediocrity of success. Certainly it is good to compound employments of both; for that will be good for the present, because the virtues of either age may correct the defects of both; and good for succession, that young men may be learners, while men in age are actors; and, lastly, good for extern accidents, because authority followeth old men, and favor and popularity youth. But for the moral part, perhaps youth will have the pre-eminence, as age hath for the politic. A certain rabbin, upon the text, Your young men shall see visions, and your old men shall dream dreams, inferreth that young men are admitted nearer to God than old, because vision is a clearer revelation than a dream. And certainly, the more a man drinketh of the world, the more it intoxicateth; and age doth profit rather in the powers of understanding, than in the virtues of the will and affections. There be some have an over-early ripeness in their years, which fadeth betimes. These are, first, such as have brittle
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exceeding subtle; who afterwards waxed stupid. A second sort is of those that have some natural dispositions which have better grace in youth than in age; such as is a fluent and luxuriant speech; which becomes youth well, but not age: so Tully saith of Hortensius, Idem manebat, neque idem decebat [He continued the same, when the same was not becoming]. The third is of such as take too high a strain at the first, and are magnanimous more than tract of years can uphold. As was Scipio Africanus, of whom Livy saith in effect, Ultima primis cedebant [His last actions were not equal to his first].
VIRTUE is like a rich stone, best plain set; and surely virtue is best in a body that is comely, though not of delicate features; and that hath rather dignity of presence than beauty of aspect. Neither is it almost seen, that very beautiful persons are otherwise of great virtue; as if nature were rather busy not to err, than in labor to produce excellency. And therefore they prove accomplished, but not of great spirit; and study rather behavior than virtue. But this holds not always: for Augustus Cæsar, Titus Vespasianus, Philip le Bel of France, Edward the Fourth of England, Alcibiades of Athens, Ismael the Sophy of Persia, were all high and great spirits; and yet the most beautiful men of their times. In beauty, that of favor' is more than that of color; and that of decent2 and gracious motion more than that of favor. That is the best part of beauty, which a picture cannot express; no nor the first sight of the life. There is no excellent beauty that hath not some strangeness in the proportion. A man cannot tell whether Apelles or Albert Durer were the more trifler; whereof the one would make a personage by geometrical proportions; the other, by taking the best parts out of divers faces, to make one excellent. Such personages, I think, would please nobody but the painter that made them. Not but I think a painter may make a better face than ever was; but he must do it by a kind of felicity (as a musician that maketh an excellent air in 2 Becoming.
music), and not by rule. A man shall see faces, that if you examine them part by part, you shall find never a good; and yet altogether do well. If it be true that the principal part of beauty is in decent motion, certainly it is no marvel though persons in years seem many times more amiable; pulchrorum autumnus pulcher [beautiful persons have a beautiful autumn]; for no youth can be comely but by pardon, and considering the youth as to make up the comeliness. Beauty is as summer fruits, which are easy to corrupt, and cannot last; and for the most part it makes a dissolute youth, and an age a little out of countenance; but yet certainly again, if it light well, it maketh virtue shine, and vices blush.
DEFORMED persons are commonly even with nature; for as nature hath done ill by them, so do they by nature; being for the most part (as the Scripture saith) void of natural affection; and so they have their revenge of nature. Certainly there is a consent' between the body and the mind; and where nature erreth in the one, she ventureth in the other. Ubi peccat in uno, periclitatur in altero. But because there is in man an election touching the frame of his mind, and a necessity in the frame of his body, the stars of natural inclination are sometimes obscured by the sun of discipline and virtue. Therefore it is good to consider of deformity, not as a sign, which is more deceivable; but as a cause, which seldom faileth of the effect. Whosoever hath anything fixed in his person that doth induce contempt, hath also a perpetual spur in himself to rescue and deliver himself from scorn. Therefore all deformed persons are extreme bold. First, as in their own defence, as being exposed to scorn; but in process of time by a general habit. Also it stirreth in them industry, and especially of this kind, to watch and observe the weakness of others, that they may have somewhat to repay. Again, in their superiors, it quencheth jealousy towards them, as persons that they think they may at pleasure despise: and it layeth their competitors Making special allowance. 1 Agreement.