This is one side of the subject, and it is not to be denied that it exhibits a considerable amount of truth from its own point of view. Even on this ground, however, it may be doubted whether the advantages of the debtor are as great as they are represented. The system of carrying on business by means of borrowed capital is answerable for much of the strain and anxiety of modern life, and not a little of the dishonesty to which traders are now tempted when hard pressed. The offer of "temporary accommodation" is inviting, but it may be questioned whether this is not more often than not a curse to those who accept it. Very frequently it only postpones the evil day. Certainly it is not found that the multiplication of "pawn-shops" tends to the comfort and well-being of the people among whom they spring up, and possibly, if we could look behind the scenes, we should discover that lending agencies in higher commercial circles were not much more beneficial to the community.
Still, it may be urged, even if the system of borrowing and lending is often carried too far, there are cases in which it is manifestly beneficial. The borrower may be really helped over a temporary difficulty. In a time of desperate need he may even be saved from starvation. This is not to be denied. We must look at the system as a whole, however, rather than only at its favourable instances.
The strength of the case for lending money at interest rests upon certain plain laws of "Political Economy." Now it is absurd to denounce the science of "Political Economy" as "diabolical." No science can be either good or bad, for by its nature all science deals only with truth and knowledge. We do not talk of the morality of chemistry. The facts may be reprehensible; but the scientific co-ordination of them, the discovery of the principles which govern them, cannot be morally culpable. Nevertheless "Political Economy" is only a science on the ground of certain pre-suppositions. Remove those pre-suppositions, and the whole fabric falls to the ground. It is not then morally condemned; it is simply inapplicable, because its data have disappeared. Now one of the leading data of this science is the principle of self-interest. It is assumed throughout that men are simply producing and trading for their own advantage. If this assumption is allowed, the laws and their results follow with the iron necessity of fate. But if the self-seeking principle can be removed, and a social principle be made to take its place, the whole process will be altered. We see this happening with Nehemiah, who is willing to lend free of interest. In his case the strong pleas for the reasonableness, for the very necessity of the other system fall to the ground. If the contagion of his example were universal, we should have to alter our books of "Political Economy," and write on the subject from the new standpoint of brotherly kindness.