belong to the infirmity of our nature, and to argue from this against the transaction in question, is objecting the possibility of loss in all imaginable transactions, in every human act. Error is an accidental fact, which is incessantly remedied by experience. In short, everybody must guard against it. As far as those hard necessities are concerned, which force persons to burdensome borrowings, it is clear that these necessities exist previously to the borrowing. If William is in a situation in which he cannot possibly do without a plane, and must borrow one at any price, does this situation result from James having taken the trouble to make the tool? Does it not exist independently of this circumstance? However harsh, however severe James may be, he will never render the supposed condition of William worse than it is.
Morally, it is true, the lender will be to blame; but, in an economical point of view, the loan itself can never be considered responsible for previous necessities, which it has not created, and which it relieves to a certain extent.
But this proves something to which I shall return. The evident interests of William, representing here the borrowers, there are many Jameses and planes, in other words, lenders and capitals. It is very evident, that if William can say to James,—"Your demands are exorbitant; there is no lack of planes in the world," he will be in a better situation than if James's plane was the only one to be borrowed. Assuredly, there is no maxim
