23. On the other hand, Lands are worth fewer years purchase (as in Ireland) for the following reasons, which I have here set down, as unto the like whereof the cause of the like cheapness in any other place may be imputed.
First, In Ireland by reason of the frequent Rebellions, (in which if you are conquered, all is lost; or if you conquer, yet you are subject to swarms of thieves and robbers) and the envy which precedent missions of English have against the subsequent, perpetuity it self is but forty years long, as within which time some ugly disturbance hath hitherto happened almost ever since the first coming of the English thither.
24. 2. The Claims upon Claims which each hath to the others Estates, and the facility of making good any pretence whatsoever by the favour of some one or other of the many Governours and Ministers which within forty years shall be in power there; as also by the frequency of false testimonies, and abuse of solemn Oaths.
25. 3. The paucity of Inhabitants, there being not above the 1. 5. th. part so many as the Territory would maintain, and of those but a small part do work at all, and yet a smaller work so much as in other Countreys.
26. 4. That a great part of the Estates both real and personal in Ireland are owned by Absentees, and such as draw over the profits raised out of Ireland refunding nothing; so as Ireland exporting more then it imports doth yet grow poorer to a paradox.
27. 5. The difficulty of executing justice, so many of those in power being themselves protected by Offices, and protecting others. Moreover, the number of criminous and indebted persons being great, they favour their like in Juries, Offices, and wheresoever they can: Besides the Countrey is seldom rich enough to give due encouragement to profound Judges and Lawyers, which makes judgements very casual; ignorant men being more apt to be bold and arbitrary, then such as understand the dangers of it. But all this a little care in due season might remedy, so as to bring Ireland in a few years to the same level of values with other places; but of this also elsewhere more at large, for in the next place we shall come to Usury.
[CHAP. V.]
Of Usury.
What reason there is for taking or giving Interest or Usury for any thing which we may certainly have again whensoever we call for it, I see not; nor why Usury should be scrupled, where money or other necessaries valued by it, is lent to be paid at such a time and place as the Borrower chuseth, so as the Lender cannot have his money paid him back where and when himself pleaseth, I also see not. Wherefore when a man giveth out his money upon condition that he may not demand it back until a certain time to come, whatsoever his own necessities shall be in the mean time, he certainly may take a compensation for this inconvenience which he admits against himself: And this allowance is that we commonly call Usury.