258

INTEREST ON MONEY.

CHAP. XXV.

have not funds to work.” It may be naturallyconceived that persons of the class which are heredescribed may be easily driven from their labourwhenever civil dissensions expose their compendiousbut petty treasures to military plunder.

No better evidence can be given of the want ofcapital in these countries than one fact whichTemple relates. He was enabled to lend a sumof money upon the security of goods of gold andsilver, which were deposited in his hands, at theenormous rate of two and ahalf per cent, per month;and this was considered a favour, the current rateof interest in Potosi having risen from three tofour per cent, per month, whilst in the city ofBuenos Ayres the rate was only fifteen per cent,per annum'.

The same author remarks, “ that the mania ofunceasing change, which has so conspicuouslymarked the conduct of the South Americans intheir plans and modes of government, has recentlyextended with a violence that has again throwninto convulsion nearly the whole of the vast con-tinent.”

The evils of the revolution have visited this dis-trict with greater weight than any other part ofAmerica . It was early invaded from Buenos Ayres,and a body of troops from that city under Puyredontook possession of Potosi as early as 1812, and after

1 Temple, vol, ii. p. 217-