Beneficial interest

“ Yet we should put our gains to good interest; for when one tries to make a beautified living creation out of dead money, as we have done, and at the same time to increase the comfort of those around one,—as I did by employing them, and you by the more direct means of bounty,—surely one has gained usurious interest. ”

“ This term interest, which commonly implies little more than our property, is sometimes put for utility in general, and this for happiness; insomuch, that, under these ambiguities, it is not surprising we are still unable to determine, whether interest is the only motive of human action, and the standard by which to distinguish our good from our ill. ”

“ We count, in the future as in the past, on the driving power of individual initiative and the incentive of fair private profit, strengthened with the acceptance of those obligations to the public interest which rest upon us all. ”

“ We have chartered the self-interest of the individual as the rightful sovereign of conduct; we have taught that the scramble for profit is the best method of administering the riches of earth and the exchange of services. ”

“ It holds out a bonus to society, or rather, to its individual members, "Give me this little, and I will give you in exchange this much." Thus each individual puts a stake into the common fund, has an interest in the common weal, which demands careful watching. ”

“ Of course, as the beneficiary of the Fund was to enjoy a simple life interest, as it was hoped that new beneficiaries would arise and come up to new standards, it would not be a trifle that the first of these worthies should not have been a striking example of the domestic virtues. ”

“ Where gratitude, sir, is not the motive of action, which may easily happen in minds not accustomed to observe the ends of government, and relations of society, interest never fails to preside, which may be distinguished from gratitude, as it regards the immediate consequences of actions, and confines the view to present advantages. But what interest can be gratified by a man who is not master of his own actions, nor secure in the enjoyment of his acquisitions? Why should he be solicitous to increase his property, who may be torn from the possession of it in a moment? ”

“ The best guarantees of the interest society has in the wealth of the members which compose it, are the industry, intelligence, and enterprise of the individual proprietors, strengthened as they always are by knowledge of business, and quickened by that which gives the keenest edge to human ingenuity—self-interest. ”

“ A landed interest, a manufacturing interest, a mercantile interest, a moneyed interest, with many lesser interests grow up of necessity in civilized nations, and divide them into different classes actuated by different sentiments and views. ”

“ The numerous and complex arrangements which, under the stimulus of individual self-interest, have arisen in this and other civilized countries for the distribution of wealth, and the growth from small beginnings of our vast system of credit and banking, serve as an illustration of the same principle. "When it is questioned," he remarks, "whether the spontaneous cooperation of men in pursuit of personal benefits will adequately work out the general good, we may get guidance for judgment by comparing the results;" ”

“ The economic interest, as a function of intelligence, finds its proper expression in a valuation set upon one thing in terms of another—a valuation that is either a step in a settled plan of spending and consumption or marks the passing of an old plan and our embarkation on a new. From such a view it must follow that the economic betterment of an individual or a society can consist neither in the accumulation of material wealth alone nor in a more diversified technical knowledge and skill. ”

“ Reasons for interest.—The propriety of interest under any circumstances has often been questioned, and its rightfulness is still bitterly disputed. Both church and state have at times denounced the receiving of interest as criminal. Yet in actual practice of commercial life throughout the world interest has been sustained in all ages. ”

“ Whatever else may benefit particular portions of society, whatever else may assist capital, whatever else may favor sharp-sighted commercial enterprise, professional skill, or extraordinary individual sagacity or good fortune, be assured, Gentlemen, that nothing can advance the mass of society in prosperity and happiness, nothing can uphold the substantial interest and steadily improve the general condition and 300 character of the whole, but this one thing, compensating rewards to labor. ”

“ To this I say, If it follow that the fruits of our Land, in consequence of such a Law for abatement of Interest, grow generally dear, it is an evident demonstration that our People grow richer; for generally, wherever Provisions are for continuance of years dear in any Country, the People are rich ”

“ The Value of a Strong Interest.—Nor are we to look upon these transitory interests as useless. They come to us not only as a race heritage, but they impel us to activities which are immediately useful, or else prepare262 us for the later battles of life. ”

“ Interest is therefore the equalizer of the value of things in different periods. Put into the scale of judgment when present and future are compared, it helps to balance the disparity in the gratifications given by economic goods in different periods of time. ”

“ Opportunities for the investment of small savings at low interest are not lacking, but [Pg 376] the great fortunes overtower the little ones, securing the great profits and great political and economic power. ”

“ The logic of morality rests on this objective relation between interest and value. The maximum good has the greatest weight, its claims are entitled to priority, because it surpasses any limited good in incentive and promise of fulfilment. ”

“ But in the modern mind, principal, and interest within a limited rate, have so grown together, that we hardly understand how it can ever have been pronounced unworthy of an honorable citizen to lend money on interest. ”

“ I regard utility as the ultimate appeal on all ethical questions; but it must be utility in the largest sense, grounded on the permanent interests of man as a progressive being. Those interests, I contend, authorise the subjection of individual spontaneity to external control, only in respect to [Pg 20] those actions of each, which concern the interest of other people. ”

“ How is one to define a good action in the premises? In the first place the good act originally conceived in terms of the free play of the present impulse is proved to be illusory. There is no good act until your interests are reorganized. In other words, the higher interest, which is entitled to preference, requires some modification of the participating interests. But the higher interest owes its title to its liberality or comprehensiveness. Hence it must represent the maximum fulfilment of both interests which the conditions allow. ”

“ Was the world made for the many, or the few? Can any one become rich from domestic trade without making others poor; or can another bring wealth from foreign countries except by adding to the circulating medium, and thereby diminishing the value of money? In either case, what is the benefit to the public or the community? Yet a benefit is rendered visible—a fine house has arisen where there stood before but a wretched hovel—and a paradise has been created out of a sheep pasture!—The benefit, however, is merely to the individual! ”

“ Every man is to be considered in two capacities, the private and public; as designed to pursue his own interest, and likewise to contribute to the good of others. ”

“ If you would enjoy the real comforts of affluence, you should lay your plan considerably within your income; not for the pleasure of amassing wealth—though, where there is a growing family, it is an absolute duty to lay by something every year—but to provide for contingencies, and to have the power of indulging your choice in the disposal of the overplus, either in innocent pleasures, or to increase your funds for charity and generosity, which are in fact the true funds of pleasure. ”

“ I accept no Companion by whom I am not convinced that the Society will be aided rather than burdened; and although I value intelligence, resolution, and personal strength, more than any other riches, I hope to find, in a little while, that there are people in the world who can hold money without being blinded, by their possession of it, to justice or duty. ”

“ Have it understood that if you are worthy to be trusted as a bearer of the name and a sharer of the fortunes of a man, you are worthy to share also the burden of the knowledge of his business experiences, and to bear the responsibility of economically guarding his interests in the expenditure of money which, by your love and care and labor, you have helped him to earn. ”

“ Can you do it alone, and feed and pay yourselves? But if the rich must do it, what shall be their reward? They give you money—what will you pay them in? Money, or money’s worth, and human bodies, are the only values that the world has ever known. ”

“ With respect to the other patrons, to whose encouragement these tables have been recommended, the proprietors of the publick funds, who are busy in the improvement of their fortunes, it is sufficient to say—that no motive can sanctify the accumulation of wealth, but an ardent desire to make the most honourable and virtuous use of it, by contributing to the support of good government, the increase of arts and industry, the rewards of genius and virtue, and the relief of wretchedness and want. ”

“ To give profusely to the people, whether under the name of charity or of employment, without placing them under such influences that prudential motives shall act powerfully upon them, is to lavish the means of benefiting mankind, without attaining the object. ”

“ It is the interest of the commercial world that wealth should be found everywhere. ”

“ In particular, it has been widely held that if a free exchange of wealth and services is allowed, each individual will obtain from society, in money or other advantages, what his services are really worth. ”

“ It is an absolute creation of wealth—that is, of those articles, commodities, and improvements which we appraise and set down as of a certain moneyed value alike in the inventory of a deceased man's estate and in the grand valuation of a nation's capital. These contributions to human welfare have been derived from knowledge ”

“ But even if this were not so, the mere fact of realizing this principle and co-operating with other noble-minded persons in its fulfillment will be an immense gain to ourselves and will finally result in unexpected good to society. Simply to know that we are accomplishing some little mite in the field of preventive philanthropy will be an inspiration in our lives. ”

“ We really, and justly, look upon a person as possessing the advantages of wealth, not in proportion to the useful and agreeable things of which he is in the actual enjoyment, but to his command over the general fund of things useful and agreeable; the power he possesses of providing for any exigency, or obtaining any object of desire. Now, money is itself that power; while all other things, in a civilized state, seem to confer it only by their capacity of being exchanged for money. ”

“ But it is only an entering wedge. Money supplies the means to cultivate manners and the right way of looking at things, and good society represents the best manners and, on the whole, the best way of looking at things. ”

“ From that time to this I have enjoyed perfect health, and I stand before you this evening, a strong and healthy man, a living example of the value of this society, and I present to you a fact, to show that this is likely to be a profitable investment.”
Another society deserves notice, from its admirable plan of uniting a benevolent principle with the benefit derivable from life assurance, and from its addressing a class, to the families of which life assurance is the only barrier against absolute poverty. ”

“ First, the article or service must have utility—that is, it must be useful in satisfying somebody's wants, either present or future. Second, those wants must be of such a nature that effort on the part of some human being will be necessary to gratify them. Nothing which can be had at all [pg 066] times by mere desire of it can have value. Third, the object must be of such a nature as to command other services or exchange of other wealth. ”

“ To furnish that sound foundation, without which business can have no healthy development and the prosperity of the people will always stand upon a volcano ready to explode at any time, three things are of the first necessity: A good National and individual credit, based upon National and individual honesty; second, a sound currency, of real and stable value ”

“ It is true that I have devoted thought, labor, and capital to a very earnest effort to help him, but only by enabling him to help himself. In doing the work on so large a scale, and in securing the utmost economies in purchases and in administration, I hope to give him a larger equivalent for his money than has hitherto been possible. ”

“ The reasonable expectation of a future benefit is, in itself, a benefit. Access, influence peddling, property rights, exclusivity, licences, permits, a job, a recommendation - all constitute benefits. ”

“ There is philanthropy, of course. I could do good, I suppose, and Father would furnish the money. But I could never undertake things. I should just have to follow, and contribute. Some one would always have to lead. Some one who could go among people and comprehend their needs, and know how to go to work to supply them. ”

“ And money is what you also think worth seeking for, even with great risk, for it is the efficient cause of many and great pleasures. As, therefore, every danger appears fit to be encountered for the sake of what is becoming and honourable, by those who decide that what is right and honourable is to be sought for its own sake; so the men of your school, who measure everything by pleasure, must encounter every danger in order to acquire great pleasures, if any great property or any important inheritance is at stake, since numerous pleasures are procured by money. ”