he hoe. The confused
borrower knows he is defrauded of his work, though each seems to have
a plausible claim upon him.

A does not give the hoe to the laborer. He retains the full ownership
but deposits it in the workman's hands to be returned unimpaired. B
does not give away his ax, he only places it in the laborer's hands
also to be returned unimpaired. The full hoe and full ax is returned
and they have taken the services without compensation.

The result is just the same as if A and B had traded tools and A had
given the laborer a hoe to dig the garden, "the tool and the material
with which to work," and B had given him an ax to cut his wood, "the
tool and the material with which to work," without a pretence of a
payment for his labor.

Taking only a part of the borrower's or laborer's services does not
relieve it of injustice. The nature of the oppression is the same,
only less heinous and flagrant. He who took a penny belonging to
another is a thief as truly as the man who took a pound. Petit larceny
and grand larceny differ only in the amount stolen. The man who takes
three per cent. of the labor of another wrongfully defrauds as the man
who takes fifty per cent. The nature of the wrong is the same; they
only differ in degree.

It is a well known fact, however, often repeated, that ninety-five out
of every hundred who go into business with borrowed capital, that is,
who pay interest on "their material and tools," do give the vigor of
their lives to the service of usurers and at the end have nothing.

The element of time is only a figment that clouds the question of
right and deceives the borrower. In order that the labor of another
may be appropriated it is necessary to give him time to work. The
laborer may dig in A's garden a day or all summer and he may chop wood
for B a day or all winter. The result is the same. It is necessary
that the borrower be given time to earn something before it is or can
be appropriated. The question is, how rapidly can he earn, and how
soon can his earnings be collected? Long time loans with the frequent
payments of the earnings of the victim are the ideal conditions of the
usurer.

CHAPTER XVIII.

A FALSE BASAL PRINCIPLE.

That usury or interest must be held under the restraints of law is
recognized in nearly all countries. It is treated as a necessary evil
that cannot be abolished, and therefore must be controlled. Bacon
said, "It is permitted on account of the h