Defence of Usury

Crichoff, in White Russia, January 1787 Among The various species or modifications of liberty, of which on different occasions we have heard so much in England, I do not recollect ever seeing any thing yet offered in behalf of The liberty of making one’s own terms in money-bargains. From so general and universal a neglect, it is an old notion of mine, as you well know, that this meek and unassuming species of liberty has been suffering much injustice. A fancy has taken me, just now, to trouble you with my reasons: which, if you think Them capable of answering any good purpose, you may forward to The press: or in The Other case, what will give you less trouble, to The fire. in a word, The proposition I have been accustomed to lay down to myself on this subject is The following one, viz. that no man of ripe years and of sound mind, acting freely, and with his eyes open, ought to be hindered, with a view to his advantage, from making such bargain, in The way of obtaining money, as he thinks fit: nor, (what is a necessary consequence) any body hindered from supplying him, upon any terms he thinks proper to accede to. This proposition, were it to be received, would level, you see, at one stroke, all The barriers which law, eiTher statute or common, have in Their united wisdom set up, eiTher against The crying sin of Usury, or against The hard-named and little-heard-of practice of Champerty; to which we must also add a portion of The multifarious, and as little heard-of offence, of Maintenance.