soucar's

Updated: June 9, 2025

Being asked, Whether, in settling a transaction of discount with the Nabob's agent, he was not offered a greater discount than 12l. per cent? he said, In discounting a soucar's bill for 180,000 pagodas, the Nabob's agent did offer him a discount of twenty-four per cent per annum, saving that it was the usual rate of discount paid by the Nabob; but which he would not accept of, thinking himself confined by the act of Parliament limiting the interest of moneys to twelve per cent, and accordingly he discounted the bill at twelve per cent per annum only.

Edmund Burke - The Works of the Right Honourable Edmund Burke, Vol. 03 (of 12)