The motive to credit is the hope of advantage. Commerce can never be at
a stop, while one man wants what another can supply; and credit will
never be denied, while it is likely to be repaid with profit. He that
trusts one whom he designs to sue, is criminal by the act of trust: the
cessation of such insidious traffick is to be desired, and no reason can
be given why a change of the law should impair any other.
We see nation trade with nation, where no payment can be compelled.
Mutual convenience produces mutual confidence; and the merchants
continue to satisfy the demands of each other, though they have nothing
to dread but the loss of trade.
It is vain to continue an institution, which experience shows to be
ineffectual. We have now imprisoned one generation of debtors after
another, but we do not find that their numbers lessen. We have now
learned that rashness and imprudence will not be deterred from taking
credit; let us try whether fraud and avarice may be more easily
restrained from giving it[1].
I am, Sir, &c.
[1] This number was substituted, for some reason not ascertained, for
the keenly satirical original, which is reprinted at the end of this
volume.
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