1st.  If the yielding of a plank by the borrower to the lender is a natural, equitable, lawful remuneration, the just price of a real service, we may conclude that, as a general rule, it is in the nature of capital to produce interest.  When this capital, as in the foregoing examples, takes the form of an instrument of labour, it is clear enough that it ought to bring an advantage to its possessor, to him who has devoted to it his time, his brains, and his strength.  Otherwise, why should he have made it?  No necessity of life can be immediately satisfied with instruments of labour; no one eats planes or drinks saws, except, indeed, he be a conjuror.  If a man determines to spend his time in the production of such things, he must have been led to it by the consideration of the power which these instruments add to his power; of the time which they save him; of the perfection and rapidity which they give to his labour; in a word, of the advantages which they procure for him.  Now, these advantages, which have been prepared by labour, by the sacrifice of time which might have been used in a more immediate manner, are we bound, as soon as they are ready to be enjoyed, to confer them gratuitously upon another?  Would it be an advance in social order, if the law decided thus, and citizens should pay officials for causing such a law to be executed by force?  I venture to say, that there is not one amongst you who would support it.  It would be to legalize, to organize, to systematize injustice itself, for it would be proclaiming that there are men born to render, and others born to receive, gratuitous services.  Granted, then, that interest is just, natural, and lawful.

2nd.  A second consequence, not less remarkable than the former, and, if possible, still more conclusive, to which I call your attention, is this:—­Interest is not injurious to the borrower.  I mean to say, the obligation in which the borrower finds himself, to pay a remuneration for the use of capital, cannot do any harm to his condition.  Observe, in fact, that James and William are perfectly free, as regards the transaction to which the plane gave occasion.  The transaction cannot be accomplished without the consent of the one as well as of the other.  The worst which can happen is, that James may be too exacting; and in this case, William, refusing the loan, remains as he was before.  By the fact of his agreeing to borrow, he proves that he considers it an advantage to himself; he proves, that after every calculation, including the remuneration, whatever it may be, required of him, he still finds it more profitable to borrow than not to borrow.  He only determines to do so because he has compared the inconveniences with the advantages.  He has calculated that the day on which he returns the plane, accompanied by the remuneration agreed upon, he will have effected more work, with the same labour, thanks to this tool.  A profit will remain to him, otherwise he would not