ch of
the value of the ship and cargo, that the chance of arriving first at
market is equivalent to the remaining part, what shall hinder him from
pressing forward at all events, and directing his course intrepidly
through seas crowded with enemies?

It is well known, my lords, that there is, in a great part of mankind, a
secret malignity, which makes one unwilling to contribute to the
advantage of another, even when his own interest will suffer no
diminution; nor is it to be imagined, that this disposition is less
predominant in traders than in the other classes of the community,
though it is exerted on different occasions. The envy of one part of
mankind is excited by reputation, or interest, or dignity, or power. The
trader, for the most part, envies nothing but money, in which he has
been taught from his infancy that every human excellence is
comprehended, and contributes to the increase of the riches of another,
with the same unwillingness with which a soldier would concur in the
advancement of an inferiour officer to a post of higher rank and
authority than his own.

For this reason, my lords, there is generally a malevolence in the
merchant against the insurer, whom he considers as an idle caterpillar,
living without industry upon the labours of others, and, therefore, when
he lays down the sum stipulated for security, he is almost in suspense,
whether he should not prefer the loss of the remaining part of the value
of his vessel to the mortification of seeing the insurer enjoy that
money, which fear and caution have influenced him to pay.

This disposition, undoubtedly, inclines him to proceed with less regard
to his own security, and betrays him into dangers which it was, at
least, possible to avoid; for to what purpose, says he, have I insured
my ship if I am not to be set free from the necessity of anxiety and
caution? If I arrive safely at the port, I shall dispose of my
commodities with uncommon advantage; if I miscarry, the insurer will at
least suffer with me, and be deservedly punished for his suspicions and
extortion.

I doubt not but some of your lordships will imagine, that I am now
indulging chimerical speculations, that I am ascribing great force to
weak motives, and supposing men to act upon principles which, in
reality, never operated in the human breast. When I think
disadvantageously of others, my lords, I am, indeed, always desirous to
find myself mistaken, and shall be pleased to hear on