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Updated: June 22, 2025
Whatever may be the amount of cash and of paper which is in circulation, the whole of the borrowers cannot receive more ploughs, houses, tools, and supplies of raw material, than the lenders altogether can furnish; for we must take care not to forget that every borrower supposes a lender, and that what is once borrowed implies a loan.
In the trade of bill-broking, as it now exists, there is one great difficulty; the bill-broker has to pay interest for all the money which he receives. How this arose we have just seen. The present lender to the bill-broker at first always used to discount a bill, which is as much as saying that he was always a lender at interest.
He offered the dollar with a quarter added. Richling declined the bonus. "But why not?" "Oh, I just couldn't do it," laughed Richling; "that's all." "Well," said the Italian, "lend me that dollar one day more, I return you dollar and half in its place to-morrow." The lender had to laugh again. "You can't find an odd barrel of damaged apples every day." "No. No apples to-day.
Then, he said, he was took down with an incurable disease. He tried and tried to get along, but 'twas no go. He mortgaged the shanty to a grasping money lender meanin' Poundberry and that money was spent. Then his sister passed away and his heart broke; so they took him to the poorhouse. "Miss Lamont," says he, "good-by.
"Simply this," resumed the citizen; "that the lender of this money will transact with the holder of the mortgage, or wadset, over the estate of Glenvarloch, and obtain from him such a conveyance to his right as shall leave the lands pledged for the debt, in case the warrant upon the Scottish Exchequer should prove unproductive.
He, however, felt in duty bound to beg in earnest, if need be, sooner than that the discovery should be lost to the world and to himself.... How he subsisted at this period charity alone can tell, for it is as well to call things by their right names; and it is little else than charity when the lender looks upon what he parts with as a gift.
The enemy, perceiving the confederates were at their heels, proceeded to Gramont, passed the Lender, and took possession of a strong camp between Aeth and Oudenarde; William followed the same route, and encamped between Aeth and Leuse.
But the other was deaf to these remonstrances; alleging, that his promise was provisional, on the supposition that the borrower would deal candidly and fairly; that he had forfeited all title to his friendship and trust, by the scandalous scheme in which he had embarked; and that his treacherous flight from his security was no proof of his honesty and intended return; but, on the contrary, a warning, by which he, the lender, was taught to take care of himself.
"Ireland offers opposition in the person of the 'gombeen man. He is the local trader and money lender. And co-operative buying and selling takes away his monopoly of business.
The title damnum emergens never presented any serious difficulty. It was recognised by Albertus Magnus, and laid down so clearly by Aquinas that it was not afterwards questioned: 'A lender may without sin enter an agreement with the borrower for compensation for the loss he incurs of something he ought to have, for this is not to sell the use of money, but to avoid a loss.
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