S73
Errors of the Schoolmen refuted.
It is for want of having looked at lending on interest in its true light that certain moralists, more rigid than enlightened, have endeavoured to make us regard it as a crime. The Scholastic theologians have concluded from the fact that money produces nothing by itself that it was unjust to demand interest for money placed on loan. Full of their prejudices, they have believed their doctrine was sanctioned by this passage of the Gospel: Mutuum date, nihil inde sperantes. Those theologians who have adopted more reasonable principles on the subject of interest have had to endure the harshest reproaches from writers of the opposite party.
Nevertheless it needs but little reflection to realise the frivolity of the pretexts which have been made use of to condemn the taking of interest. A loan is a reciprocal contract, free between the two parties, which they make only because it is advantageous to them. It is evident that, if the Lender finds it to his advantage to receive something as the hire of his money, the Borrower is equally interested in finding the money of which he stands in need; as is shown by his making up his mind to borrow and to pay the hire[1] of the money: but on what principle can one imagine a crime in a contract which is advantageous to the two parties, with which both are content and which certainly does not injure anyone else. To say that the Lender takes advantage of the Borrower's need of money
- ↑ Le loyer.
