Answ. The same as of limiting the Exportation of Money, and there may be as well Laws for limiting Exchange also: For Interest always carrieth with it an Ensurance proe∣mium, which is very casual, besides that of Forbearance: For Instance, in Ireland there was a time when Land (the highest security) was sold for 2 Years Purchase: It was then naturally just to take 20, 30, or 40 per Cent. Interest; whereas there the Law allows but 10. And since that time, Land being risen to 12 Years Purchase, responsible Men will not give above 8. And insolvent Men will offer Cent. per Cent. notwithstanding the Law. Again, suppose a Man hath 100l. of Land worth 20 Years Purchase, and another 100l. in Houses, worth 12 Years Purchase, and an other 100l. in Shipping worth 2 Years Purchase; and another in Horses, worth 6 Months Pur∣chase; Is it not manifest he must have a greater Yearly proemium for lending his House than his Land, his Ship than his House, and his Horse than his Ship? For if his Horse be worth 100l. he cannot hire him out for less than 10s. per diem, whereas the Land will not yield a Groat for the same time; and these Hires are the same with Interest.
Sir William Petty his Quantulumcunque concerning money to the Lord Marquess of Halyfax, anno 1682.
About this Item
- Title
- Sir William Petty his Quantulumcunque concerning money to the Lord Marquess of Halyfax, anno 1682.
- Author
- Petty, William, Sir, 1623-1687.
- Publication
- London :: Printed for A. and J. Churchill ...,
- 1695.
- Rights/Permissions
-
To the extent possible under law, the Text Creation Partnership has waived all copyright and related or neighboring rights to this keyboarded and encoded edition of the work described above, according to the terms of the CC0 1.0 Public Domain Dedication (http://creativecommons.org/publicdomain/zero/1.0/). This waiver does not extend to any page images or other supplementary files associated with this work, which may be protected by copyright or other license restrictions. Please go to http://www.textcreationpartnership.org/ for more information.
- Subject terms
- Money -- England.
- Foreign exchange -- England.
- Link to this Item
-
http://name.umdl.umich.edu/A54623.0001.001
- Cite this Item
-
"Sir William Petty his Quantulumcunque concerning money to the Lord Marquess of Halyfax, anno 1682." In the digital collection Early English Books Online. https://name.umdl.umich.edu/A54623.0001.001. University of Michigan Library Digital Collections. Accessed June 9, 2025.