sin. Priests declare that this is the one sin that is never voluntarily confessed. Usury is the common outward activity of this inward state, and when usury was made lawful by the statutes of the realm, the voice of conscience was silenced. The conscience that would cry out in protest against a rate of interest forbidden by law, will permit the same rate when the statutes of the state are changed.
- Early education and natural buoyancy have led the debtors to be less sensitive to the burdens of usury upon them.
A large portion of our present arithmetic is taken up with percentage. The position of the student, in mind, is that of the creditor. This is presumed in the statements of the problems and lies in the thought of the student in all the calculations. If the statements of propositions and their conclusions were made to place the student on the debtor side, then the study of percentage would educate him to a horror of this sin.
When a loan is made, the attention of the borrower is seldom called to the rapidity of increase and the dangers of accumulation. If this were done, and a prompt return of both principal and interest required, at the end of the term the borrower would soon be alarmed at the hopelessness of permanent gain through debt.
Peter Cooper, it is said, taught this lesson to a friend who was talking of borrowing for six months at three per cent. We clip the following story:
"Why do you borrow money for so short a time?" Mr. Cooper asked.
"Because the brokers will not negotiate bills for longer."
"Well, if you wish," said Mr. Cooper, "I will discount your note at that rate for three years."
"Are you in earnest?" asked the would-be borrower.