When yet but a clerk to the Clerk in the Counter, frequent opportunities occurred which Audley knew how to improve. He became a money-trader as he had become a law-writer, and the fears and follies of mankind were to furnish him with a trading capital. The fertility of his genius appeared in expedients and in quick contrivances. He was sure to be the friend of all men falling out. He took a deep concern in the affairs of his master's clients, and often much more than they were aware of. No man so ready at procuring bail or compounding debts. This was a considerable traffic then, as now. They hired themselves out for bail, swore what was required, and contrived to give false addresses, which is now called leg-bail. They dressed themselves out for the occasion; a great seal-ring flamed on the finger, which, however, was pure copper gilt, and they often assumed the name of some person of good credit. Savings, and small presents for gratuitous opinions, often afterwards discovered to be very fallacious ones, enabled him to purchase annuities of easy landowners, with their treble amount secured on their estates. The improvident owners, or the careless heirs, were soon entangled in the usurer's nets; and, after the receipt of a few years, the annuity, by some latent quibble, or some irregularity in the payments, usually ended in Audley's obtaining the treble forfeiture. He could at all times out-knave a knave. One of these incidents has been preserved. A draper, of no honest reputation, being arrested by a merchant for a debt of £200, Audley bought the debt at £40, for which the draper immediately offered him £50. But Audley would not consent, unless the draper indulged a sudden whim of his own: this was a formal contract, that the draper should pay within twenty years, upon twenty certain days, a penny doubled. A knave, in haste to sign, is no calculator; and, as the contemporary dramatist describes one of the arts of those citizens, one part of whose business was
To swear and break: they all grow rich by breaking!
the draper eagerly compounded. He afterwards "grew rich." Audley, silently watching his victim, within two years, claims his doubled pennies, every month during twenty months. The pennies had now grown up to pounds. The knave perceived the trick, and preferred paying the forfeiture of his bond for £500, rather than to receive the visitation of all the little generation of compound interest in the last descendant of £2000, which would have closed with the draper's shop. The inventive genius of Audley might have illustrated that popular tract of his own times, Peacham's "Worth of a Penny;" a gentleman who, having scarcely one left, consoled himself by detailing the numerous comforts of life it might procure in the days of Charles II.
Such petty enterprises at length assumed a deeper cast of interest. He formed temporally partnerships with the stewards of country gentlemen. They underlet estates which they had to manage; and anticipating the owner's necessities, the estates in due time became cheap purchases for Audley and the stewards. He usually contrived to make the wood pay for the land, which he called "making the feathers pay for the goose." He had, however, such a tenderness of conscience for his victim, that, having plucked the live feathers before he sent the unfledged goose on the common, he would bestow a gratuitous lecture in his own science—teaching the art of making them grow again, by showing how to raise the remaining rents. Audley thus made the tenant furnish at once the means to satisfy his own rapacity, and his employer's necessities. His avarice was not working by a blind, but on an enlightened principle; for he was only enabling the landlord to obtain what the tenant, with due industry, could afford to give. Adam Smith might have delivered himself in the language of old Audley, so just was his standard of the value of rents. "Under an easy landlord," said Audley, "a tenant seldom thrives; contenting himself to make the just measure of his rents, and not labouring for any surplusage of estate. Under a hard one, the tenant revenges himself upon the land, and runs away with the rent. I would raise my rents to the present price of all commodities: for if we should let our lands, as other men have done before us, now other wares daily go on in price, we should fall backward in our estates." These axioms of political economy were discoveries in his day.
Audley knew mankind practically, and struck into their humours with the versatility of genius: oracularly deep with the grave, he only stung the lighter mind. When a lord borrowing money complained to Audley of his exactions, his lordship exclaimed, "What, do you not intend to use a conscience?" "Yes, I intend hereafter to use it. We moneyed people must balance accounts: if you do not pay me, you cheat me; but, if you do, then I cheat your lordship." Audley's moneyed conscience balanced the risk of his lordship's honour against the probability of his own rapacious profits. When he resided in the Temple among those "pullets without feathers," as an old writer describes the brood, the good man would pule out paternal homilies on improvident youth, grieving that they, under pretence of "learning the law, only learnt to be lawless;" and "never knew by their own studies the process of an execution, till it was served on themselves." Nor could he fail in his prophecy; for at the moment that the stoic was enduring their ridicule, his agents were supplying them with the certain means of verifying it. It is quaintly said, he had his decoying as well as his decaying gentlemen.
The arts practised by the money-traders of that time have been detailed by one of the town-satirists of the age. Decker, in his "English Villanies," has told the story: we may observe how an old story contains many incidents which may be discovered in a modern one. The artifice of covering the usury by a pretended purchase and sale of certain wares, even now practised, was then at its height.
In Measure for Measure we find,
"Here's young Master Rash, he's in for a commodity of brown paper and old ginger, nine score and seventeen pounds; of which he made five marks ready money."
The eager "gull," for his immediate wants, takes at an immense price any goods on credit, which he immediately resells for less than half the cost; and when despatch presses, the vender and the purchaser have been the same person, and the "brown paper and old ginger" merely nominal.[[74]]
The whole displays a complete system of dupery, and the agents were graduated. "The Manner of undoing Gentlemen by taking up of Commodities," is the title of a chapter in "English Villanies." The "warren" is the cant term which describes the whole party; but this requires a word of explanation.