Workmen's advocate. (New Haven, Conn.) 1883-1891, 1889-02-16

the greatest ease.
The jurist," say the Roman jur-
lists, "notices only what generally |
happens, Still more true is this of |
the moral views Of the people which |
grows out Of their economical condl-
tons. They, too, notice only that
which generally happens.
Borrowing went on in antiquity as
it does with us, But so long as the
induccment and the opportunities
for investing loans in foreign pro-
ducton were lacking-and, as we
have seen, this very foreign produc-
ton was based only on its own natu-
raj economy and the surplus thus
arlsing-loans of moLey were taken
only for purposes of consumption.
They were, therefore, incurred on
account of personal needness and
embarrassment; though this EN- bar
rassment might only be that of the
Roman Ilile, who wanted to deck
the circus with purple for the pub
lie games, and hadn't the necessary
sum at command.
70 take advantage of the needs,
necessities, Of a borrower who de-
voted his loan exclusively to pur-
poses of consumption, and was not
an atom the richer for it than ne
WAS before ne incurred lis on every
ground shameful; and this antiquity
and the Church have both justly
recognized. On the other hand, 1t
is quite true that even in modern
times debts are frequently incurred
purely for purposes OF consumption.
But loans for purposes of production
are now Overwhelmingly preponder-
ant-loans which the borrower at
once applies to productive undertake
lngs. Such loan is contracted, be-
yond question, by reason Of embar-
rassment; but only out of that single
and perpIexng embarrassment: how
to get richer. And, quite naturally,
this sort Of embarrassment the lend
cr gladly shares with the borrower.
In other words, the productive loan
is, economically speaking, share
in the profit of the business; and
the contradiction between the an
Gent and the bOHrge0js view Of the
loanmonger and usurer-both of
them, observe, arrived at IN COnse'
uucnCe Of the dominant economical
character of loans peculiar TO the re-
spectlyo pcriods--is thus cleared uI
$ by the consideration of the actuaI
4 historical conditions. AS, there
fore, the opportunity for lending
} money for productive lnvestmen
h begins to extend more and more IL
t one direction, actual prohibition II
l. forced in another; public opinion Il
increasingly hostile, and struggle
against its introduction IN practice
The investment of wealth in foreigl
production and by It's investment
in his own natural sphere of produc
ton the investor remains Away
"master, never as yet capitalist
therefore always forms a reatlvcl
insignificant part of the ancient in
vestmont of wealth.
III almost wholly in landed posses
le sions, a trlte out at interest. " Such
f. even at 50 hate period as that {
II pliny, is the statement Of the wealt
. of Roman Senator. Even of s
" proverbially wealthy man as Graz
IL sus Plutarch says, when he enume
&c ates his various properties, sllvt
o. mines, landed estates, agrcultur;
=, slaves, etc, call this is really moth
ing in comparison with the value {
Il his domestic slaves, so many and /
OF admirable were they, readers, wrl
e. crs, silver testers, overseers, attcn,
III ants, etc, etc.
ce Almost all these slaves were meal
all of enjoyment. The ancient econor
'al ical system, which in its active shal
An is "lordship," not "capital," deyt
on ops into such means of enjoymen
ne not into "capital, There were i
on struments of labor, means of EMO
ly mont, values and riches in the a
d, cient world, but still no "cspltal
Il Estimated by this dominant form
the entire system, there was still !
he productivity of capital when, f
he instance, Sophocles makes his slav
er carry on a sword factory. IN tb
nd case of manufacture with view
IL trade, the "natural" character
nn thu ncnnnmin systnm Il rst disannna1