“ As for mortgaging or pawning, it will little mend the matter: for either men will not take pawns without use; or if they do, they will look precisely for the forfeiture. ”
Francis Bacon, The Essays of Francis Bacon (1597). copy citation
| Author | Francis Bacon |
|---|---|
| Source | The Essays of Francis Bacon |
| Topic | mending |
| Date | 1597 |
| Language | English |
| Reference | |
| Note | |
| Weblink | http://www.gutenberg.org/files/575/575-h/575-h.htm |
Context
“The second is, that were it not for this easy borrowing upon interest, men's necessities would draw upon them a most sudden undoing; in that they would be forced to sell their means (be it lands or goods) far under foot; and so, whereas usury doth but gnaw upon them, bad markets would swallow them quite up. As for mortgaging or pawning, it will little mend the matter: for either men will not take pawns without use; or if they do, they will look precisely for the forfeiture. I remember a cruel moneyed man in the country, that would say, The devil take this usury, it keeps 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.”
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