Of Fortune

It cannot be denied but outward accidents conduce much to fortune; favour, opportunity, death of others, occasion fitting virtue: but chiefly the mould of a man's fortune is in his own hands: Faber quisque fortunae suae, saith the poet; and the most frequent of external causes is that the folly of one man is the fortune of another; for no man prospers so suddenly as by others' errors. Serpens nisi serpentem comederit non fit draco. Overt and apparent virtues bring forth praise; but there be secret and hidden virtues that bring forth fortune; certain deliveries of a man's self which have no name. The Spanish name, disemboltura, partly expresseth them; when there be not stonds nor restiveness in a man's nature, but that the wheels of his mind keep way with the wheels of his fortune; for so Livy (after he had described Cato Major in these words, In illo viro, tantum robur corp oris et animi fuit, ut quocunque loco natus esset fortunam sibi facturus videretur), falleth upon that that he had versatile ingeniurn: therefore, if a man look sharply and attentively, he shall see Fortune; for though she be blind, yet she is not invisible. The way of Fortune is like the milken way in the sky; which is a meeting or knot of a number of small stars, not seen asunder, but giving light together: so are there a number of little and scarce discerned virtues, or rather faculties and customs, that make men fortunate. The Italians note some of them, such as a man would little think. When they speak of one that cannot do amiss, they will throw in into his other conditions, that he hath Poco di matto; and certainly there be not two more fortunate properties than to have a little of the fool, and not too much of the honest; therefore extreme lovers of their country or masters were never fortunate; neither can they be; for when a man placeth his thoughts without himself, he goeth not his own way. An hasty fortune maketh an enterpriser and remover; (the French hath it better, entreprenant or remuant); but the exercised fortune maketh the able man. Fortune is to be honoured and respected and it be but for her daughters, Confidence and Reputation; for those two Felicity breedeth; the first within a man's self, the latter in others towards him. All wise men, to decline the envy of their own virtues , use to ascribe them to Providence and Fortune; for so they may the better assume them: and, besides, it is greatness in a man to be the care of the higher powers. So Caesar said to the pilot in the tempest, Caesarem portas, et fortunam ejus. So Sylla chose the name of Felix and not of Magnus: and it hath been noted, that those who ascribe openly too much to their own wisdom and policy, end infortunate. It is written that Timotheus the Athenian, after he had, in the account he gave to the state of his government, often interlaced this speech, and in this Fortune had no part, never prospered in anything he undertook afterwards. Certainly there be whose fortunes are like Homer's verses, that have a slide h and easiness more than the verses of other poets; as Plutarch saith of Timoleon's fortune in respect of that of Agesilaus or Epaminondas: and that this should be, no doubt it is much in a man's self.

Of Usury

Many have made witty invectives against usury. They say that it is pity the devil should have God's part, which is the tithe, that the usurer is the greatest Sabbath-breaker, because his plough goeth every Sunday; that the usurer is the drone that Virgil speaketh of:  Ignavum fucos pecus a praesepibus arcent;  that the usurer breaketh the first law that was made for mankind after the fall, which was, in sudore vultūs tui comedes panem tuum; not, in sudore vultūs alieni; that usurers should have orange-tawny bonnets, because they do Judaize; that it is against nature for money to beget money, and the like. I say this only, that usury is a concessum propter duritiem cordis: for since there must be borrowing and lending, and men are so hard of heart as they will not lend freely, usury must be permitted. Some others have made suspicious and cunning propositions of banks, discovery of men's estates, and other inventions; but few have spoken of usury usefully. It is good to set before us the incommodities and commodities of usury, that the good may be either weighed out or culled out; and warily to provide that, while we make forth to that which is betterd, we meet not with that which is worse.

The discommodities of usury are, first, that it makes fewer merchants; for were it not for this lazy trade of usury, money would not lie still but would in great part be employed upon merchandising, which is the vena porta of wealth in a state: the second, that it makes poor merchants; for as a farmer cannot husband his ground so well if he sit at a great rent, so the merchant cannot drive his trade so well if he sit at great usury: the third is incident to the other two; and that is, the decay of customs of kings or states, which ebb or flow with merchandising: the fourth, that it bringeth the treasure of a realm or state into a few hands; for the usurer being at certainties, and others at uncertainties, at the end of the game most of the money will be in the box; and ever a state flourisheth when wealth is more equally spread: the fifth, that it beats down the price of land; for the employment of money is chiefly either merchandising or purchasing, and usury waylays both: the sixth, that it doth dull and damp all industries, improvements, and new inventions, wherein money would be stirring if it were not for this slug : the last, that it is the canker and ruin of many men's estates, which in process of time breeds a public poverty.

On the other side, the commodities of usury are, first, that howsoever usury in some respect hindereth merchandising, yet in some other it advanceth it; for it is certain that the greatest part of trade is driven by young merchants upon borrowing at interest; so as if the usurer either call in or keep back his money, there will ensue presently a great stand of trade: the second is, that were it not for this easy borrowing upon interest, men's necessities would draw upon them a most sudden undoing, in that they would be forced to sell their means (be it lands or goods), far under footh; and so, whereas usury doth but gnaw upon them, bad markets would swallow them quite up. As for mortgaging or pawning, it will little mend the matter: for either men will not take pawns without use, or if they do, they will look precisely for the forfeiture. I remember a cruel moneyed man in the country that would say, The devil take this usury, it keeps us from forfeitures of mortgages and bonds. The third and last is, that it is a vanity to conceive that there would be ordinary borrowing without profit; and it is impossible to conceive the number of inconveniences that will ensue, if borrowing be cramped: therefore to speak of the abolishing of usury is idle; all states have ever had it in one kind or rate or other; so as that opinion must be sent to Utopia.

To speak now of the reformation and reglement of usury, how the discommodities of it may be best avoided and the commodities retained. It appears, by the balance of com- modities and discommodities of usury, two things are to be reconciled; the one that the tooth of usury be grinded that it bite not too much; the other that there be left open a means to invite moneyed men to lend to the merchants, for the continuing and quickening of trade. This cannot be done except you introduce two several sorts of usury, a less and a greater; for if you reduce usury to one low rate, it will ease the common borrower, but the merchant will be to seek for money: and it is to be noted that the trade of merchandise being the most lucrative, may bear usury at a good rate: other contracts not so.

To serve both intentions, the way would be briefly thus: that there be two rates of usury; the one free and general for all; the other under licence only to certain persons, and in certain places of merchandising. First therefore, let usury in general be reduced to five in the hundred, and let that rate be proclaimed to be free and current; and let the state shut itself out to takem any penalty for the same; this will preserve borrowing from any general stop or dryness; this will ease infinite borrowers in the country; this will in good part raise the price of land, because land purchased at sixteen years' purchase will yield six in the hundred and somewhat more, whereas this rate of interest yields but five; this by like reason will encourage and edge industrious and profitable improvements, because many will rather venture in that kind than take five in the hundred, especially having been used to greater profit. Secondly, let there be certain persons licensed to lend to known merchants upon usury at a higher rate, and let it be with the cautions following: let the rate be, even with the merchant himself, somewhat more easy than that he used formerly to pay; for by that means all borrowers shall have some ease by this reformation, be he merchant or whosoever; let it be no bank or common stock, but every man be master of his own money; not that I altogether mislike banks, but they will hardly be brooked in regard of certain suspicions. Let the state be answered some small matter for the license, and the rest left to the lender; for if the abatement be but small, it will no whit discourage the lender; for he for example that took before ten or nine in the hundred, will sooner descend to eight in the hundred than give over his trade of usury, and go from certain gains to gains of hazard. Let these licensed lenders be in number indefinite, but restrained to certain principal cities and towns of merchandising; for then they will be hardly able to colour other men's moneys in the country: so as the licence of nine will not suck away the current rate of five; for no man will send his moneys far off, nor put them into unknown hands.

If it be objected that this doth in a sort authorize usury, which before was in some places but permissive; the answer is, that it is better to mitigate usury by declaration than to suffer it to rage by connivance.

Of Plantations.

Plantations are amongst ancient, primitive, and heroical works. When the world was young, it begat more children; but now it is old, it begets fewer: for I may justly account new plantations to be the children of former kingdoms. I like a plantation in a pure soil; that is, where people are not displanted, to the end to plant in others; for else it is rather an extirpation than a plantation. Planting of countries is like planting of woods; for you must make account to lose almost twenty years' profit, and expect your recompense in the end: for the principal thing that hath been the destruction of most plantations hath been the base and hasty drawing of profit in. the first years. It is true, speedy profit is not to be neglected as far as may stand with the good of the plantation, but no further. It is a shameful and unblessed thing to take the scum of people and wicked condemned men to be the people with whom you plant; and not only so, but it spoileth the plantation; for they will ever live like rogues, and not fall to work, but be lazy, and do mischief, and spend victuals, and be quickly weary, and then certify over to their country to the discredit of the plantation. The people wherewith you plant ought to be gardeners, ploughmen, labourers, smiths, carpenters, joiners, fishermen, fowlers, with some few apothecaries, surgeons, cooks, and bakers. In a country of plantation, first look about what kind of victual the country yields of itself to hand: as chestnuts, walnuts, pine-apples, olives, dates, plums, cherries, wild honey, and the like; and make use of them. Then consider what victual or esculent things there are which grow speedily and within the year; as parsnips, carrots, turnips, onions, radish, artichokes of Hierusalem, maize, and the like: for wheat, barley, and oats, they ask too much labour; but with pease and beans you may begin, both because they ask less labour, and because they serve for meat as well as for bread; and of rice likewise cometh a great increase, and it is a kind of meat. Above all, there ought to be brought store of biscuit, oatmeal, flour, meal, and the like in the beginning till bread may be had. For beasts or birds take chiefly such as are least subject to diseases and multiply fastest; as swine, goats, cocks, hens, turkeys, geese, house-doves, and the like. The victual in plantations ought to be expended almost as in a besieged town; that is, with certain allowance: and let the main part of the ground employed to gardens or corn, be to a common stock ; and to be laid in and stored up and then delivered out in proportion; besides some spots of ground that any particular person will manure5 for his own private, Consider likewise what commodities the soil where the plantation is doth naturally yield, that they may some way help to defray the charge of the plantation: so it be not as was said, to the untimely prejudice of the main business, as it hath fared with tobacco in Virginia. Wood commonly aboundeth but too much; and therefore timber is fit to be one. If there be iron ore, and streams whereupon to set the mills, iron is a brave commodity where wood aboundeth. Making of bay-salt, if the climate be proper for it, would be put in experience : growing silk0 likewise, if any be, is a likely commodity: pitch and tar, where store of firs and pines are, will not fail; so drugs and sweet woods, where they are, cannot but yield great profit: soap-ashes likewise, and other things that may be thought of; but moil not too much under ground, for the hope of mines is very uncertain, and useth to make the planters lazy in other things. For government, let it be in the hands of one, assisted with some council; and let them have commission to exercise martial laws, with some limitation; and above all, let men make that profit of being in the wilderness, as they have God always and his service before their eyes: let not the government of the plantation depend upon too many counsellors and undertakers in the country that planteth, but upon a temperate number; and let those be rather noblemen and gentlemen than merchants; for they look ever to the present gain. Let there be freedoms from custom till the plantation be of strength; and not only freedom from custom, but freedom to carry their commodities where they may make their best of them, except there be some special cause of caution, Cram not in people by sending too fast company after company; but rather hearken' how they waste, and send supplies proportionably; but so as the number may live well in the plantation, and not by surcharge be in penury. It hath been a great endangering to the health of some plantations that they have built along the sea and rivers, in marish and unwholesome grounds: therefore, though you begin there to avoid carriage and other like discommodities, yet build still rather upwards from the streams than along. It concerneth likewise the health of the plantation that they have good store of salt with them, that they may use it in their victuals when it shall be necessary. If you plant where savages are, do not only entertain them with trifles use them justly and graciously, with sufficient guard nevertheless; and do not win their favour by helping them to invade their enemies, but for their defence it is not amiss; and send oft of them over to the country that plants, that they may see a better condition than their own, and commend it when they return. When the plantation grows to strength, then it is time to plant with women as well as with men; that the plantation may spread into generations, and not be ever pieced from without. It is the sinfullest thing in the world to forsake or destitute a plantation once in forwardness; for, besides the dishonour, it is the guiltiness of blood of many com miserable persons.

Of Riches

I cannot call riches better than the baggage of virtue the Roman word is better, impedimenta; for as the baggage is to an army, so is riches to virtue; it cannot be spared nor left behind, but it hindereth the march; yea and the care of it sometimes loseth or disturbeth the victory. Of great riches there is no real use, except it be in the distribution; the rest is but conceit; so saith Salomon, Where much is, there are many to consume it; and what hath the owner but the sight of it with his eyes? The personal fruition in any man cannot reach to feel great riches: there is a custody of them; or a power of dole and donative of them; or a fame of them; but no solid use to the owner. Do you not see what feigned prices are set upon little stones and rarities? and what works of ostentation are undertaken, because there might seem to be some use of great riches? But then you will say they may be of use to buy men out of dangers or troubles; as Salomon saith, Riches are as a stronghold in the imagination of the rich man; but this is excellently expressed, that it is in imagination and not always in fact: for certainly great riches have sold more men than they have bought out. Seek not proud riches, but such as thou mayest get justly, use soberly, distribute cheerfully, and leave contentedly; yet have no abstract nor friarly contempt of them; but distinguish, as Cicero saith well of Rabirius Posthumus, In studio rei amplificandae, apparebat non ava- ritiae praedam, sed instrumentum bonitati quaeri. Hearken also to Salomon, and beware of hasty gathering of riches: Qui festinat ad divitias non erit insons. The poets feign that when Plutus (which is riches) is sent from Jupiter, he limps and goes slowly; but when he is sent from Pluto, he runs and is swift of foot; meaning that riches gotten by good means and just labour pace slowly; but when they come by the death of others (as by the course of inheritance, testaments, and the like), they come tumbling upon a man: but it might be applied likewise to Pluto, taking him for the devil: for when riches come from the devil (as by fraud and oppression and unjust means) they come upon speed. The ways to enrich are many, and most of them foul: parsimony is one of the best, and yet is not innocent; for it withholdeth men from works of liberality and charity. The improvement of the ground is the most natural obtaining of riches; for it is our great mother's blessing, the earth's; but it is slow; and yet, where men of great wealth do stoop to husbandry it multiplieth riches exceedingly. I knew a nobleman in England that had the greatest audits of any man in my time; a great grazier, a great sheep-master, a great timber-man, a great collier, a great corn-master, a great lead-man, and so of iron, and a number of the like points of husbandry; so as the earth seemed a sea to him in respect of the perpetual importation. It was truly observed by one, that himself came very hardly to a little riches, and very easily to great riches; for when a man's stock is come to that that he can expect the prime of markets, and overcome those bargains, which for their greatness are few men's money, and be partner in the industries of younger men, he cannot but increase mainly. The gains of ordinary trades and vocations are honest, and furthered by two things chiefly: by diligence, and by a good name for good and fair dealing; but the gains of bargains are of a more doubtful nature, when men shall wait upon others' necessity: broke by servants and instruments to draw them on; put off others cunningly that would be better chapmen, and the like practices which are crafty and naught As for the chopping of bargains, when a man buys not to hold but to sell over again, that commonly grindeth double, both upon the seller and upon the buyer. Sharings do greatly enrich, if the hands be well chosen that are trusted. Usury is the certainest means of gain, though one of the worst; as that whereby a man doth eat his bread, in sudore vultūs alieni; and besides, doth plough upon Sundays: but yet certain though it be, it hath flaws; for that the scriveners and brokers do value unsound men to serve their own turn. The fortune in being the first in an invention or in a privilege doth cause sometimes a wonderful overgrowth in riches, as it was with the first sugar. man in the Canaries: therefore, if a man can play the true logician, to have as well judgment as invention, he may do great matters, especially if the times be fit: he that resteth upon gains certain, shall hardly grow to great riches; and he that puts all upon adventures, doth often times break and come to poverty: it is good therefore to guard adventures with certainties that may uphold losses. Monopolies and coemption of wares for resale, where they are not restrained, are great means to enrich; especially if the party have intelligence what things are like to come into request, and so store himself beforehand. Riches gotten by service though it be of the best rise, yet when they are gotten by flattery, feeding humours, and other servile conditions, they may be placed amongst the worst. As for fishing for testaments and executors ships (as Tacitus saith of Seneca, Testamenta et orbos tanquam indagine capi), it is yet worse, by how much men submit themselves to meaner persons than in service. Believe not much them that seem to despise riches, for they despise them that despair of them; and none worse when they come to them. Be not penny-wise; riches have wings, and sometimes they fly away of themselves, sometimes they must be set flying to bring in more. Men leave their riches either to their kindred, or to the public; and moderate portions prosper best in both. A great state' left to an heir is as a lure to all the birds of prey round about to seize on him, if he be not the stablished in years and judgment: likewise, glorious gifts and foundations are like sacrifices without salt; and but the painted sepulchres of alms, which soon will putrefy and corrupt inwardly: therefore measure not thine advancements by quantity, but frame them by measure: and defer not charities till death; for certainly, if a man weigh it rightly, he that doth so is rather liberal of another man's than of his own.