W. ofN., Bookll, chap. iv; vol. I, pp

89. Défence of Usury : showing the impolicy of the présent légal restreints on the terms of pecuniary bargains ; in letters to a friend, to winch is added, a letterto Adam Smith, esq. L. L. D., on the discouragements opposed by the above restraints to the progress of inventive industry, by Jeremy Bentham. Letterl, Introduction, Crichoff, in white Russia, January 1787 ; Bowring, vol. III, p. 3.

90. Bowring, vol. III, p. 16 : Defence of Usury, letter X: A considération that did not happen to présent itself to that great philosopher, but which, had it happened to présent itself, might not hâve been altogether unworthy of his notice, is, that though a daric would not beget another daric, any more than it would a ram, or an ewe, yet for a daric which a man borrowed, he might get a ram and a couple for ewes ; and that the ewes, were the ram left with tliein a certain time, would probably not bebarren. That then. at the end of the year, he would lind himself master of his threesheep, together with two, if not three, lambs ; and that, if he sold his sheep again to pay hack his daric, and gave one of his lambs for the use of it in the meantime, he would be two lambs, or at least one lamb, richer than if had made no such bargain.