Morning journal and courier., 1880-03-20
What ia USufYS


 [TLe Bishop Of Manchester, in Contemporary Review]
 All my life throush-from the time when income was not 8 tenth part of what 1t is now T have felt 1t duty, while sndsavoring to discharge all proper claims, to live within that income, so to adjust my expenditure to it that there should be margin on the right ride. This margin, of course, accumulated, and reached in time, say, sI ,00O. Just then, say, the London and Northwestern Railway Com pany proposed to issue debenture stock, bearing per cent. interest for the purpose of sxcommunications of and so increasing the wealth by facilitating the intsroommunica- tions of the country. Who in the world am I injuring-what conceivable wrong am doing where or how am I thwarting 'the will of God'-if lot the company have my 91 ,000, and have bssn receiving from them s4O year for the use of t-Over since? Unless the money had been forthcoming from some quarter or other, work which was absolutely necessary for the prosperity of the nation, and which finds remunerative emplo yment for an immense number of Englishmen, en- abling them to bring up their families in re- spectsbility and comfort, would never have been accomplished. Will you tell me that this method of carrying out great commercial enterprises, sanctioned by experience as the most, if not the only, practicable one, is ''not according to the will of God ?" Take another instance In Lancashire large number of cotton mills have been erected on the joint stock principle with limited liability. The thing has been pushed too far, probably, and at one time there was good deal of unwhole, some speculation in floating companies. But that is not the question before us; and the enterprises gave workingmsn an opportunity of investing thsir savings, which was 8 great stimulus to thrift, and, so far, an advantage to the couatry. In mill, which it would perhaps cost $50, 900 to build and fit with ma chinsry the subscribed capital, which would be entitled to 6 division of profits after all other demands had been satisfied, would not amount probably to mora than f20, 900. The rest would bs borrowed at rates of interest varying according to the condition of the mar ket. You surely would not maintain that those who lent their money for such purpose and were content with or per cent. for the use of it, thus enabling, in good times, the shareholders to realize 20 or 25 per cent. on their subscribed capital, were doing wrong either to sths shareholders or to any one else, or could in any sense be charged with acting ''not according to the will of God" Take yet one case more. A farmer asks his land squire, Eff you will pay per csnt. on the outlay" In other words, eff you will let me share the increased profits to this extent" The bargain is agreeable to both sides; the pro- ductiveness of the land is largely increased who is wronsed? Surely such Q transaction could not fairly be described as ''not accord ing to the will of God;" surely, unless the commerce and productive industries of the country are to be destroyed, and, with the ds- structioD, it's population is to be reduced to what it was in the days of Elizabeth, thsss and similar tranEactioss-which can be kept entirely clear of ths sin of covetousnsss, and rest upon tho well understood basis of mutual advantage, each and all being gathers by them-are not only legitimate, but inevitable.