Front Page Titles (by Subject) LETTER IX.: BLACKSTONE CONSIDERED. - The Works of Jeremy Bentham, vol. 3
LETTER IX.: BLACKSTONE CONSIDERED. - Jeremy Bentham, The Works of Jeremy Bentham, vol. 3 
The Works of Jeremy Bentham, published under the Superintendence of his Executor, John Bowring (Edinburgh: William Tait, 1838-1843). 11 vols. Vol. 3.
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- Errata—vol. III.
- Defence of Usury; Showing the Impolicy of the Present Legal Restraints On the Terms of Pecuniary Bargains; In Letters to a Friend.
- Letter I.: Introduction.
- Letter II.: Reasons For Restraint—prevention of Usury.
- Letter III.: Reasons For Restraint—prevention of Prodigality.
- Letter IV.: Reasons For Restraint—protection of Indigence.
- Letter V.: Reasons For Restraint—protection of Simplicity.
- Letter VI.: Mischiefs of the Anti-usurious Laws.
- Letter VII.: Efficacy of Anti-usurious Laws.
- Letter VIII.: Virtual Usury Allowed.
- Letter IX.: Blackstone Considered.
- Letter X.: Grounds of the Prejudices Against Usury.
- Letter XI.: Compound Interest.
- Letter XII.: Maintenance and Champerty.
- Letter XIII.: To Dr. Smith, On Projects In Arts, &c.
- A Manual of Political Economy: Now First Edited From the Mss. of Jeremy Bentham.
- Chapter I.: Introduction. *
- Chapter II.: Analytical Survey of the Field of Political Economy.
- Chapter III.: Of Wealth.
- Chapter IV.: Of Population.
- Chapter V.: Of Finance.
- Chapter VI.: Operation of a Sinking Fund On the Production of Wealth.
- Chapter VII.: Noscenda.
- Observations On the Restrictive and Prohibitory Commercial System; Especially With a Reference to the Decree of the Spanish Cortes of July 1820.
- Preface.: Observations, &c.
- Section I.: Nature of the Prohibitory System.
- Section II.: Mischiefs of the Prohibitory System.
- Section III.: Causes of the Prohibitory System.
- A Plan For Saving All Trouble and Expense In the Transfer of Stock, and For Enabling the Proprietors to Receive Their Dividends Without Powers of Attorney, Or Attendance At the Bank of England, By the Conversion of Stock Into Note Annuities.
- Chapter I.: Plan For the Creation, Emission, Payment, and Eventual Extension, of a Proposed New Species of Government Paper, Under the Name of Annuity Notes.
- Chapter II.: Form of an Annuity Note. (see Table II.)
- Chapter III.: Comparison of the Proposed, With the Existing Government Securities, &c.
- Chapter IV.: Grounds of Expectation, In Regard to the Proposed Measure.
- Chapter V.: Financial Advantages.
- Chapter VI.: Advantage By Addition to National Capital.
- Chapter VII.: Advantage By Addition to Commercial Security.
- Chapter VIII.: Particular Interests Concerned.
- Chapter IX.: Rise of Prices—how to Obviate.
- Chapter X.: Reduction of Interest—proposed Mode Compared With Mr. Pelham’s.
- Chapter XI.: Moral Advantages.
- Chapter XII.: Constitutional Advantages.
- Chapter XIII.: Recapitulation and Conclusion.
- Appendix A.: Government Ought to Have the Monopoly of Paper Money, As Well As of Metallic Money.
- Appendix B.: Paper Money—causes Why Not Circulated By Government Without Interest, As Well As By Individuals.
- General View of a Complete Code of Laws.
- Chapter I.: General Division.
- Chapter II.: Relations Between the Laws Concerning Offences, Rights, Obligations, and Services.
- Chapter III.: Relation Between the Penal and Civil Code.
- Chapter IV.: Of Method.
- Chapter V.: Plan of the Penal Code.
- Chapter VI.: Of the Division of Offences.
- Chapter VIII. Titles of the Penal Code.
- Chapter IX.: First General Title of the Civil Code, * of Things.
- Chapter X.: Second General Title of the Civil Code. of Places.
- Chapter XI.: Third General Title of the Civil Code. of Times.
- Chapter XII.: Fourth General Title of the Civil Code. of Services.
- Chapter XIII.: Fifth General Title of the Civil Code. of Obligations.
- Chapter XIV.: Sixth General Title of the Civil Code. of Rights.
- Chapter XV.: Seventh General Title of the Civil Code. of Collative and Ablative Events.
- Chapter XVI.: Eighth General Title of the Civil Code. of Contracts.
- Chapter XVII.: Ninth General Title of the Civil Code. of the Domestic and Civil States.
- Chapter XVIII.: Tenth General Title of the Civil Code. of Persons Capable of Acquiring and of Contracting.
- Chapter XIX.: Of the Particular Titles of the Civil Code.
- Chapter XX.: Of Elementary Political Powers.
- Chapter XXI.: Of Elementary Political Powers— Subject Continued.
- Chapter XXII.: Plan of the Political Code.
- Chapter XXIII.: Plan of the International Code.
- Chapter XXIV.: Plan of the Maritime Code.
- Chapter XXV.: Plan of the Military Code.
- Chapter XXVI.: Plan of the Ecclesiastical Code.
- Chapter XXVII.: Plan of Remuneratory Laws.
- Chapter XXVIII.: Of Political Economy.
- Chapter XXIX.: Plan of the Financial Code.
- Chapter XXX.: Plan of Procedure Code.
- Chapter XXXI.: Of the Integrality of the Code of Laws.
- Chapter XXXII.: Of Purity In the Composition of a Code of Laws.
- Chapter XXXIII.: Of the Style of the Laws.
- Chapter XXXIV.: Of the Interpretation, Conservation, and Improvement of a Code.
- Pannomial Fragments.
- Chapter I.: General Observations.
- Chapter II.: Consideranda.
- Chapter III.: Expositions.
- Chapter IV.: Axioms.
- Nomography; Or the Art of Inditing Laws: Now First Published From the Mss. of Jeremy Bentham.
- Chapter I.: The Subject Stated.
- Chapter II.: Relations.
- Chapter III.: Proper End In View.
- Chapter IV.: Imperfections Primary.
- Chapter V.: Explanations Relative to the Imperfections of the Second Order.
- Chapter VI.: Of Remedies. *
- Chapter VII.: Of Language.
- Chapter VIII.: Of the Perfections of Which the Legislative Style Is Susceptible.
- Chapter IX.: Of Forms of Enactment.
- Appendix. Logical Arrangements, Or Instruments of Invention and Discovery
- Equity Dispatch Court Proposal; Containing a Plan For the Speedy and Unexpensive Termination of the Suits Now Depending In Equity Courts. With the Form of a Petition, and Some Account of a Proposed Bill For That Purpose
- Section I.: Purpose Explained. Jeremy Bentham to the Honest and Afflicted Among Equity Suitors.
- Section II.: Equity Suitors’ Petition For Dispatch Court. to the King’s Most Excellent Majesty, —
- Section III.: Dispatch Court Bill—some Account of It.
- Section IV.: Information Requisite From Petitioning Suitors.
- Equity Dispatch Court Bill: Being a Bill For the Institution of an Experimental Judicatory Under the Name of the Court of Dispatch, For Exemplifying In Practice the Manner In Which the Proposed Summary May Be Substituted to the So Called Regular Sy
- Editor’s Note.
- Part I.—: Judiciary.
- Section I.: Judge Located, How.
- Section II.: Remuneration.
- Section III.: Registrar, &c.
- Section IV.: Eleemosynary Advocate.
- Section V.: Judges’, &c. Deputes.
- Section VI.: Judge’s Powers—exemptions—checks.
- Section VII.: Prehensors and Messengers.
- Section VIII.: Consignees; * Or Say, In-trust-holders.
- Section IX.: Grounds of Decision For the Dispatch Court Judge.
- Section X. ‡: Suits’ Comparative Suitableness; and Order of Cognizance.
- Section XI.: Auxiliary Judges and Accountants.
- Section XII.: Sittings, Times Of.
- Part II.—: Procedure.
- Section XIII.: Definitions. *
- Section XIV.: Examination of Solicitors.
- Section XV.: Initiatory Examination of Parties, &c.
- Section XVI.: Appropriate Intercourse, Constant and Universal, Secured.
- Section XVII.: Mutual Security For Forthcomingness of Persons and Things. ‡
- Section XVIII.: Evidence-procuring Money, How Provided.
- Section XIX.: Subsequential Evidence, How Elicited.
- Section XX.: Execution, How Performed.
- Section XXI.: Equity Court Costs, How Disposed Of.
- Section XXII.: Dispatch Court Costs, How Disposed Of.
- Section XXIII.: Eventual Retrotransference of a Suit to the Equity Court.
- Section XXIV.: Expense of the Court, How Provided For.
- Supplemental Sections:—
- Section I. Or XXV.: Bankruptcy and Insolvency.
- Section II. Or XXVI.: Henceforward Dispatch Court.
- Schedules to the Bill.
- Plan of Parliamentary Reform, In the Form of a Catechism, With Reasons For Each Article: With an Introduction, Showing the Necessity of Radical, and the Inadequacy of Moderate, Reform.
- Section I.: History of the Ensuing Tract—alarming State of the Country and the Constitution.
- Section II.: Most Prominent Present Grievance, Gareisoning France.
- Section III.: Causes of the Above and All Other Mischiefs:—particular Interests Monarchical and Aristocratical, Adverse to the Universal—their Ascendency.
- Section IV.: Sole Remedy In Principle—democratic Ascendency.
- Section V.: Remedy In Detail: Radical Parliamentary Reform: Elementary Arrangements In This Edition of It—their Necessity.
- Section VI.: Differences Between This and the Original Editions of Radical Reform.
- Section VII.: Virtual Universality of Suffrage Further Considered.
- Section VIII.: Virtual Universality of Suffrage—its Undangerousness.
- Section IX.: Freedom of Suffrage Further Explained—seductive Influence—its Forms, Instruments, &c.
- Section X.: Bribery and Terrorism Compared.
- Section XI.: Purchase of Seats—in What Cases Mischievous—in What Beneficial.
- Section XII.: Secresy of Suffrage—its Importance Further Developed.
- Section XIII.: Exclusion of Placemen, &c. From the Right of Voting—mischievousness and Profligacy of the Opposite Arrangement.
- Section XIV.: Universal Constancy of Attendance—its Importance.
- Section XV.: Representatives—impermanence of Their Situation—its Importance:—objections—their Groundlessness.
- Section XVI.: Moderate Reform—its Arrangements—their Inadequacy.
- Section XVII.: Trienniality Inadequate;—annuality Necessary.
- Section XVIII.: Interests Adverse to Adequate Reform—support Given By Them to Moderate, to the Exclusion of Radical: Tories—whigs—people’s Men.
- Catechism of Parliamentary Reform; Or, Outline of a Plan of Parliamentary Reform; In the Form of Question and Answer; With Reasons to Each Article.
- Section I.: Ends to Be Aimed At On the Occasion of Parliamentary Reform.
- Section II.: Means, Conducive Towards These Ends.
- Section III.: Means—their Uses, With Reference to Their Respective Ends.
- Section IV.: Means Conducive to Aptitude In Members: I. Placemen Not to Vote, Nor to Be Seated By Election.
- Section V.: Means, &c. Continued.—ii. Placemen Seated By the King, With Speech and Motion, Without Vote.
- Section VI.: Means, &c. Continued.—iii. Elections Frequent—annual.
- Section VII.: Means, &c. Continued.—iv. Speeches Authentically and Promptly Published.
- Section VIII.: Means, &c. Continued.—v. Attendance, Punctual and General, Secured.
- Section IX.: Inconveniences Incident to Elections, and Election Judicature.
- Section X.: Election Inconveniences—means For Their Removal.
- Section XI.: Collateral Advantages, Referable to the Situations of Electors, Placemen, Lords, &c.
- A Sketch of the Various Proposals For a Constitutional Reform In the Representation of the People, Introduced Into the Parliament of Great Britain, From 1770 to 1812.
- Radical Reform Bill, With Extracts From the Reasons.
- Preliminary Explanations.
- Title of the Proposed Act.
- Section 1.—: Seats and Districts.
- Section 2.—: Electors, Who.
- Section 3.—: Eligible, Who.
- Section 4.—: Election Offices.
- Section 5.: Election Apparatus.
- Section 6.—: Promulgation of Recommendations In Favour of Proposed Members.
- Section 7.—: Voters’ Titles Pre-established.
- Section 8.—: Election, How.
- Section 9.: Election Districts and Polling Districts, How Marked Out.
- Section 10.—: Vote-making Habitations, How Defined.
- Section 11.—: Members’ Continuance.
- Section 12.—: Vacancies Supplied.
- Section 13.—: Security For the House Against Disturbance By Members. †
- Section 14.—: Indisposition of Speakers Obviated.
- Appendix, Including General Explanations.
- Radicalism Not Dangerous. Extracted From the Mss. of Jeremy Bentham. *
- Part I.—: Introduction.
- Section I.: Radical Reform Bill Recapitulated.
- Section II.: Persuasion of the Dangerousness of Radicalism—cause of It, and of the Vituperative Expression Given to It.
- Section III.: Terms of the Accusation,—speeches From the Throne, 16 Th July and 21 St November 1819.
- Section IV.: The Accusation In General Terms—counter-averment.
- Section V.: Plan of This Defence.
- Part II.—: Deference From the General Nature of the Case.
- Section I.: Conditions Necessary to a Man’s Embarking In Such a Design.
- Section VII.: Concurrence In Any Other Extensive Plan of Spoliation Impossible.
- Section VIII.: Concurrence of Any Constituted Authorities Impossible.
- Section IX.: Accomplishment Impossible—design Impossible.
- Section X.: The Talked-of Spunge No Proof of the Design.
- Part III.—: Defence From Experience In the Case of the United States.
- Part IV.: Defence From Particular Experience In the Case of Ireland: Years 1777 Or 1778, to 1783.
- Section I.: Analogy Between This and the Previous Case.
- Section II.: Democratic Ascendency, How Produced.
- Section III.: Fruit of Democratic Ascendency a Golden Age.
- Section IV.: Coincidence of Its Characters With Those of Radicalism.
- Section VI.: Extinction of Democratic Ascendency and Reform—restoration of Monarchico-aristocratical Ascendency, and Its Consequences.
I hope you are, by this time, at least, pretty much of my opinion, that there is just the same sort of harm, and no other, in making the best terms one can for one’s self in a money loan, as there is in any other sort of bargain. If you are not, Blackstone however is, whose opinion I hope you will allow to be worth something. In speaking of the rate of interest, he starts a parallel between a bargain for the loan of money, and a bargain about a horse, and pronounces, without hesitation, that the harm of making too good a bargain is just as great in the one case as in the other. As money-lending, and not horse-dealing, was what you lawyers call the principal case, he drops the horse-business as soon as it has answered the purpose of illustration which it was brought to serve. But as, in my conception, as well the reasoning by which he supports the decision, as that by which anybody else could have supported it, is just as applicable to the one sort of bargain as to the other, I will carry on the parallel a little farther, and give the same extent to the reasoning, as to the position which it is made use of to support. This extension will not be without its use: for if the position, when thus extended, should be found just, a practical inference will arise; which is, that the benefits of these restraints ought to be extended from the money-trade to the horse-trade. That my own opinion is not favourable to such restraints in either case, has been sufficiently declared; but if more respectable opinions than mine are still to prevail, they will not be the less respectable for being consistent.
The sort of bargain which the learned commentator has happened to pitch upon for the illustration, is indeed, in the case illustrating, as in the case illustrated, a loan: but as, to my apprehension, loan or sale makes in point of reasoning no sort of difference, and as the utility of the conclusion will in the latter case be more extensive, I shall adapt the reasoning to the more important business of selling horses, instead of the less important one of lending them.
A circumstance, that would render the extension of these restraints to the horse-trade more smooth and easy, is, that in the one track as well as in the other, the public has already got the length of calling names. Jockeyship—a term of reproach not less frequently applied to the arts of those who sell horses than to the arts of those who ride them—sounds, I take it, to the ear of many a worthy gentleman, nearly as bad as usury: and it is well known to all those who put their trust in proverbs, and not less to those who put their trust in party, that when we have got a dog to hang, who is troublesome and keeps us at bay, whoever can contrive to fasten a bad name to his tail, has gained more than half the battle. I now proceed with my application. The words in italics are my own: all the rest are Sir William Blackstone’s: and I restore, at bottom, the words I was obliged to discard in order to make room for mine.
“To demand an exorbitant price is equally contrary to conscience, for the loan of a horse, or for the loan of a sum of money: but a reasonable equivalent for the temporary inconvenience which the owner may feel by the want of it, and for the hazard of his losing it entirely, is not more immoral in one case than in the other. . . . .
“As to selling horses, a capital distinction must be made between a moderate and an exorbitant profit: to the former of which we give the name of horse-dealing, to the latter the truly odious appellation of jockeyship: the former is necessary in every civil state, if it were but to exclude the latter. For, as the whole of this matter is well summed up by Grotius, “if the compensation allowed by law does not exceed the proportion of the inconvenience which it is to the seller of the horse to part with it, or the want which the buyer has of it, its allowance is neither repugnant to the revealed law, nor to the natural law: but if it exceeds these bounds, it is then an oppressive jockeyship: and though the municipal laws may give it impunity, they never can make it just.”
“We see that the exorbitance or moderation of the price given for a horse depends upon two circumstances,—upon the inconvenience of parting with the horse one has, and the hazard of not being able to meet with such another. The inconvenience to individual sellers of horses can never be estimated by laws; the general price for horses must depend therefore upon the usual or general inconvenience. This results entirely from the quantity of horses in the kingdom: for the more horses there are running about in any nation, the greater superfluity there will be beyond what is necessary to carry on the business of the mail-coaches and the common concerns of life. In every nation or public community there is a certain quantity of horses, thus, necessary, which a person well skilled in political arithmetic might perhaps calculate as exactly as a private horses dealer can the demand for running horses in his own stables: all above this necessary quantity may be spared, or lent, or sold, without much inconvenience to the respective lenders or sellers; and the greater the national superfluity is, the more numerous will be the sellers, and the lower ought the national price of horse-flesh to be: but where there are not enough, or barely enough spare horses to answer the ordinary uses of the public, horse-flesh will be proportionably high; for sellers will be but few, as few can submit to the inconvenience of selling.” So far the learned commentator.
I hope by this time you are worked up to a proper pitch of indignation at the neglect and inconsistency betrayed by the law, in not suppressing this species of jockeyship, which it would be so easy to do, only by fixing the price of horses. Nobody is less disposed than I am to be uncharitable: but when one thinks of the £1500 taken for Eclipse, and £2000 for Rockingham, and so on, who can avoid being shocked to think how little regard those who took such enormous prices must have had for “the law of revelation and the law of nature?” Whoever it is that is to move for the municipal law, not long ago talked of, for reducing the rate of interest,—whenever that motion is made, then would be the time for one of the Yorkshire members to get up, and move, by way of addition, for a clause for fixing and reducing the price of horses. I need not expatiate on the usefulness of that valuable species of cattle, which might have been as cheap as asses before now, if our lawgivers had been as mindful of their duty in the suppression of jockeyship, as they have been in the suppression of usury.
It may be said, against fixing the price of horse-flesh, that different horses may be of different values. I answer—and I think I shall show you as much, when I come to touch upon the subject of champerty—not more different than the values which the use of the same sum of money may be of to different persons, on different occasions.