[27] "The most universal and effectual way of discovering the true meaning of a law, when the words are dubious, is by considering the REASON and SPIRIT of it, or the cause which moved the legislator to enact it. For when the reason ceases, the law itself ought likewise to cease with it."—Blackst. Introd. Com. ch. 2. p. 16.
[28] Sections X. and XI. of the original are omitted in the translation.—Translator.
[29] From this simple origin of barter, and exchange of things have arisen all the various transactions of commerce. And what was at first an act of necessity between individuals, has proved an inexhaustible source of wealth and prosperity to nations.
[30] For the necessity of Monopolies in certain cases, see the [note] on the xxi. sect. of the 2nd. chapter of this book.
[31] The Dutch in order to secure to themselves the monopoly of the spice-trade have frequently destroyed all the productions of the spice islands beyond what was necessary for their own supply. By the just policy of the laws of England, "combinations among victuallers or artificers, to raise the price of provisions, or any commodities, or the rate of labour, are in many cases severely punished by particular statutes; and, in general, by statute 2 and 3 Edwd. VI. c. 15, with the forfeiture of 10 l., or twenty days imprisonment with an allowance of only bread and water, for the first offence; 20 l. or the pillory for the second; and 40 l. for the third, or else the pillory, loss of one ear, and perpetual infamy. In the same manner, by a constitution of the Emperor Zeno, all monopolies and combinations to keep up the price of merchandise, provisions, or workmanship, were prohibited, upon pain of forfeiture of goods and perpetual banishment."—Blackst. Com. b. iv. c. 12. p. 159.—Also the 39 Geo. III. c. 81, enacted, that every person combining with others to advance their wages, or decrease the quantity of work, or any way to affect or controul those who carried on any manufacture or trade in the conduct and management thereof, might be convicted before one justice of the peace, and might be committed to the common gaol for any time not exceeding three calendar months, or be kept to hard labour in the house of correction for two months.—Christian's notes to Blackstone on the same place.
[32] "It is possible that an estate or a house may, during the term of a lease, be so increased or diminished in its value, as to become worth much more, or much less, than the rent agreed to be paid for it. In some of which cases it may be doubted, to whom, of natural right, the advantage or disadvantage belongs. The rule of justice seems to be this: If the alteration might be EXPECTED by the parties, the hirer must take the consequence; if it could not, the owner. An orchard, or a vineyard, or a mine, or a fishery, or a decoy, may this year yield nothing or next to nothing, yet the tenant shall pay his rent; and if they next year produce tenfold the usual profit, no more shall be demanded; because the produce is in its nature precarious, and this variation might be expected."—Paley's, Mor. Phil. vol. 1. p. 155, 156.
[33] The following passage from Judge Blackstone will both elucidate the meaning and support the reasoning of our author. "Though money was originally used only for the purposes of exchange, yet the laws of any state may be well justified in permitting it to be turned to the purposes of profit, if the convenience of society (the great end for which money was invented) shall require it. And that the allowance of moderate interest tends greatly to the benefit of the public, especially in a trading country, will appear from that generally acknowledged principle, that commerce cannot subsist without mutual and extensive credit. Unless money therefore can be borrowed, trade cannot be carried on: and if no premium were allowed for the hire of money, few persons would care to lend it; or at least the ease of borrowing at short warning (which is the life of commerce) would be entirely at an end."—B. ii. ch. 30. p. 454, 455.
[34] "The Mosaic law indeed prohibited the lending of money upon usury. But this was a political and not a moral precept. It only prohibited the Jews from taking usury of their brethren the Jews, but in express words permitted them to take it of a stranger: which proves that the taking of moderate usury, or a reward for the use, is not an evil in itself, since it was allowed where any but an Israelite was concerned."—Blackst. Com. b. ii. ch. 30. p. 454. The objections made to it by Cicero and others, our author observes, are founded more upon the consequences of usury than upon usury itself. Because it deters men from borrowing. But, on the other hand, if there were no advantage attached to the lending of money, none would be found willing to lend; consequently the benefits arising from a facility of borrowing money to carry on trade would be defeated.
[35] "Insurances being contracts, the very essence of which consists in observing the purest good faith and integrity, they are vacated by any the least shadow of fraud or undue concealment; and, on the other hand, being much for the benefit and extension of trade, by distributing the loss or gain among a number of adventurers, they are greatly encouraged and protected both by common law and acts of parliament."—Blackst. Com. b. ii. ch. 30. p. 460.
"The contract of insurance is founded upon the purest principles of morality and abstract justice. Hence it is necessary that the contracting parties should have perfectly equal knowledge or ignorance of every material circumstance respecting the thing insured. If on either side there is any misrepresentation or allegatio falsi, or concealment, or suppressio veri, which would in any degree affect the premium, or the terms of the engagement, the contract is fraudulent and absolutely void."—Christian's note on the same passage.