Page:Essays on Political Economy (Bastiat).djvu/29

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CAPITAL AND INTEREST.
21

"This first clause is perfectly just," said he, "for without it Mathurin would give, and not lend."

Secondly—He engaged to deliver five litres on every hectolitre. "This clause is no less just than the other," thought he; "for without it Mathurin would do me a service without compensation; he would inflict upon himself a privation—he would renounce his cherished enterprise—he would enable me to accomplish mine—he would cause me to enjoy for a year the fruits of his savings, and all this gratuitously. Since he delays the cultivation of his land, since he enables me to realise a lucrative labour, it is quite natural that I should let him partake, in a certain proportion, of the profits which I shall gain by the sacrifice he makes of his own."

On his side, Mathurin, who was something of a scholar, made this calculation:—"Since, by virtue of the first clause, the sack of corn will return to me at the end of a year," he said to himself, "I shall be able to lend it again; it will return to me at the end of the second year; I may lend it again, and so on, to all eternity. However, I cannot deny that it will have been eaten long ago. It is singular that I should be perpetually the owner of a sack of corn, although the one I have lent has been consumed for ever. But this is explained thus:— It will be consumed in the service of Jerome. It will put it into the power of Jerome to produce a superior value; and, consequently, Jerome will be able to restore me a sack of corn, or the value of it without having suffered the slightest injury: but