It was formerly wrongly supposed, and even Locke and Montesquieu did not escape this error, that the fall in the value of the precious metals consequent on the discovery of the American mines was the real cause of the general lowering of the rate of interest in Europe.
But he errs in attributing the fall of the rate of interest which takes place in the progress of industry to the increase in the quantity of money.
The object is the protection of widows and orphans, but the right has been very much abused, and its abuse is in part responsible for the high rate of interest which prevails.
By the Law of Liquidation the floating debt was paid off, the whole debt being consolidated into four large loans, upon which the rate of interest was reduced to a figure which it was considered Egypt was able to bear.
In my dreams something was always falling suddenly and heavily, and at times my nurse seemed to punish me for my unkind treatment of her in the daytime and return at an usurer's rate of interest my kickings and pinchings.
He cou'd imagine admirable situations, and he could write verses of incomparable grandeur - verses that reverberate again and again in the memory, but he could not, with the patient docility of Racine, labour at proportioning the action of a tragedy strictly, at maintaining a uniform rate of interest in the course of the plot and of excellence in the fashion of the verse.