★ Find a new page on our Untranscribed Manuscripts list.
Click Here To Edit INSOLVENCY. 1
As one man is the same to the State as another
man, mans's interest as another man's interest
it is no matter to the State whether B.
who borrowed the money or L who lent it have
it at the long run, supposing as it supposed that things to be so order'd,
that the punishment shall not be such as that B, knowing & expecting it the punishment,
can think it worth his while to incur it
for the profit of the delinquency. If it be, that is if it be perceived so to be, by persons in the -ation of L, especially
after having once been otherwise, from
that moment Credit must receive a shock,
more or less severe, as the inequality of that
punishment to that profit stands more or less
confessed — In more particular language, L, seeing
that if he lends his money to B, B as far as
depends upon the Law, having no a clear Interest but
to return repay it the money, to will keep it to himself.
By this means a double loss is sustained incurred in
the first place: one by L who loses the profit
INSOLVENCY
---page break---
2INSOLVENCY
he might have had for the hire of his money:
another of B, who loses the advantage he would
have had from the use of the it either in the
way of accumulation 2, by laying it out in
bargains commodities which sold again would produce more
than an equivalent; or in the way of conservation 1
by using it for a time, till more should
come in to replace, saving himself keeping himself clear from out of a temporary
distress.
In the second place, the loss of B, in the way of accumulation draws with
it a train of numberless derivative losses. Let
B be a trinket maker maker of hardware at Birmingham, who
cannot get money to buy iron: there are his
men who cannot get the money they used to would receive
for the making of the trinkets, wares which are
loss or rather collection of trinkets; losses there are
the men at ....... to over intermediate Trades who would have been paid for
It can be ... smelting the ore, which is another loss; there are the
that can spread thr Idea of insecurity. men at .......... who would have drawn
out this ore, another.
---page break---
INSOLVENCY 3
if at all in any other way than
by the sufferance of the Debtor
which according as it has had a
greater or less continuance before it has
operated it's effect, is more
or less of clear unhappiness.
The only Question is therefore, how
would Credit bear the
of this precarious collateral
security? [a Question
which resolves itself into another,
how far men trust much of their confidence
to it men place to the account
of it at the time of
lending?]
|
Identifier: | JB/070/281/001"JB/" can not be assigned to a declared number type with value 70. |
|||
|---|---|---|---|
|
070 |
of laws in general |
||
|
281 |
insolvency |
||
|
001 |
|||
|
text sheet |
1 |
||
|
recto |
|||
|
jeremy bentham |
[[watermarks::[lion with vryheyt motif]]] |
||
|
23396 |
|||
