Borrow essay

Borrowing money is a most dangerous practice whenever any difficulty in the repayment is to be anticipated, that is to say, in the circumstances in which men ordinarily think of borrowing, poor, as a rule, men have recourse to this expedient when their expenditure exceeds their income, or when they wish to spend more than they can earn.

Any one who borrows under these circumstances seldom sees any definite prospects of repayment, and it would be far better for him to restrict his expenses to the purchase of the barest neces­sities of life, than thus to throw upon his shoulders the burden of a debt that he does not know how to pay.

In such cases by means of borrowing we are enabled more easily to violate the salutary rule of pru­dence, which tells us never to spend more than our income.

So that the rule against borrowing should not be laid down too absolutely. We must content our­selves with clearly recognizing the evil results that usually spring from the use of other people’s money, and, if we are ever com­pelled to borrow, we should never rest until we have succeeded in discharging our debt.