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Romanised transliteration as printed by the translator, not the original script. This is what we hold.
110. When (such special) interest has been stipulated in any other manner, it must not be paid by any means. 11. Hair-interest, bodily interest, and interest by 7 6. ‘Bodily labour, when the milk of a pledged cow or the strength of a pledged animal for draught or burden is used by the creditor, being, as it were, the interest on his loan. Viram. g, 10. Viram. p. 295; Col. Dig. I, 2, 37 (‘ Katyayana’). ro. ‘In any other manner,’ i.e. by the creditor. Viram. 11. Viram. p. 301; Col. Dig. : 2, 35> [33] 322 BRIHASPATI. XI, 12. enjoyment shall be taken by the creditor so long as the principal remains unpaid. 12. But the use of a pledge after twice the principal has been realised from it, compound interest, and the exaction of the principal and interest (together as principal) is usury and reprehensible. 13. On gold (and other precious metals), the interest may make (the debt) double; on clothes and base metals (such as tin or lead), treble; on grain, it is allowed to rise to four times the original amount, and so on edible plants (or fruit), beasts of burden, and wool. 14. It is allowed to make (the debt) quintuple, on pot-herbs; sextuple, on seeds and sugar-cane; and it may make (the debt) octuple, on salt, oil, and spirituous liquor. 15. Likewise, on sugar and honey, if the loan be of old standing. 16. On grass, wood, bricks, thread, substances from which spirits may be extracted, leaves, bones, leather, weapons, flowers, and fruits, no interest is ordained. 17. A pledge is termed bandha, and is declared to 12. Viv. p.12; Col. Dig. loc. cit. 13-16. Viram. pp. 298, 300; Viv. pp. " 18; May. p. 104; Col. Dig. I, 2, 63, 67, 69. 13. The Viramitrodaya reads Jarmésthivarmandm, ‘leather, bones, and armour.’ 16. The commentators observe that no interest should be exacted, unless there be a special agreement to the purpose. There is, however, another reading (vrrddhis tu na nivartate), under which the purport of this rule becomes quite different, viz. that there is absolutely no limit regarding the interest on the articles mentioned in it. This version is in harmony with the corresponding regulations of other legislators. 17. Col. Dig. I, 3, 80; May. p. 105; Viram. p. 305. XI, 22. THE LAW OF DEBT. 323 be of four sorts; movable or immovable; to be kept only or to be used; to be released at any time, or limited as to time; stated in writing, or stipulated (orally) before witnesses. 18. Should the creditor, actuated by avarice, use a pledge before interest has ceased to accrue on the loan (on becoming equal to the principal), or before the fixed period has expired, such use shall be stopped. 19. The pledge has to be kept carefully, like a deposit; interest is forfeited in case of its being damaged. 20. A pledge having been used and rendered worthless (by such use), the principal (itself) is lost ; if a very valuable pledge be spoiled, he must satisfy the pledger.
219. The pledge has to be kept carefully, like a deposit; interest is forfeited in case of its being damaged. 20. A pledge having been used and rendered worthless (by such use), the principal (itself) is lost ; if a very valuable pledge be spoiled, he must satisfy the pledger. 21. If a pledge be destroyed by a fatal accident or by an act of the king, the debtor shall be caused either to deliver another pledge or to pay the debt. 22. When the debtor restores the principal and asks for his pledge, it must be restored to him ; otherwise the creditor is liable to punishment. 18,19. Col. Dig. I, 3, 92; Viram. p. 306. 20. Col. Dig. I, 3, 86; Viram. p. 309; May. p. 105. 21. Col. Dig. I, 3, 93; May. p. 105; Viram. p. 309. This text has been translated according to the Viramitrodaya. Under the reading of the other compilations, payment of the debt together with interest is enjoined. ‘A king,’ i.e. a ruler who offends against the dictates of religion. Viram. 22. Col. Dig. I, 3,103; Viram. p.319. The rule that the principal only needs to be restored concerns a pledge for use. In the case of a pledge for custody, interest has to be paid besides the principal. Viram. Y2 324 BRIHASPATI. XI, 23. 23. When a field or other (immovable property) has been enjoyed, and more than the principal realised by it, then the debtor shall recover his pledge, if the principal and interest has been actually got out of it (by the creditor). 24. (This law applies) when the debtor delivers a field to the creditor, with the following stipulation, ‘ This (field) shall be enjoyed by you, when interest has ceased (on becoming equal to the principal), that is certain. When the principal has been realised together with the interest, you shall restore (the field) to me.’ 25. When the time (for payment) has passed and interest has ceased (on becoming equal to the principal), the creditor shall be owner of the pledge ; but, till ten days have elapsed, the debtor is entitled to redeem it. 26. Notice having been given to the debtor's family, a pledge to be kept (only) may be used, after the principal has been doubled; and so may a pledge for a fixed period, on the expiration of that term. 27. When the principal has been doubled, or the stipulated period expired in the case of a pledge delivered for a certain time only, the creditor 23. Col. Dig. I, 3, 108; May. p. 107. 23, 24. Viram. p. 320. Under a stipulation of this sort, the mortgagee shall recover his pledge, as soon as the creditor has fully realised his demand out of the mortgage, no matter whether he has - contributed little or much himself towards its realisation. Viram. The Ratndkara (p. 29) inserts the following text after 24, ‘ This lawful rule has been proclaimed with regard to loans on interest and so forth.’ 25. Col. Dig. I, 3,115; Viram. p. 316. 26. Viram. p. 316 ; Col. Dig. I, 3, 119 (‘ Smriti’).
3Viram. The Ratndkara (p. 29) inserts the following text after 24, ‘ This lawful rule has been proclaimed with regard to loans on interest and so forth.’ 25. Col. Dig. I, 3,115; Viram. p. 316. 26. Viram. p. 316 ; Col. Dig. I, 3, 119 (‘ Smriti’). 27, 28. Viram. p. 315. ‘During that interval,’ i.e. before the ten days have elapsed. Viram. These two texts are elsewhere XI, 33- THE LAW OF DEBT. 325 becomes owner of the pledge, after having waited for a fortnight. 28. If the debtor should pay the debt during that interval, he may recover his pledge (even then). 29. When the amount of the debt has been doubled (by the interest accruing on it), and the debtor is either dead or no longer present, (the creditor) may take his chattel and sell it before witnesses. 30. Or, its value having been estimated in an assembly, he may keep it for ten days; after which, having realised a sufficient sum to cover his demand, he should relinquish the balance. 31. When a man neither enjoys a pledge, nor obtains it (from the debtor), nor points it out (to others), his written contract (concerning the pledge) is invalid, (just like) a document when the (subscribing) witnesses and debtor are dead. 32. When a house or field has been mortgaged for use and the period (fixed for such use) has not expired, the debtor cannot recover his property, nor can the creditor (recover) his loan. 33. When the (stipulated) period has elapsed, both attributed to Vyasa. This is probably the correct view, as it is difficult to reconcile these texts either with the preceding or with the following ones. 29. May. p. 106. 29, 30. Viram. p. 316; Col. Dig. I, 3,121. ‘The chattel,’ i.e. the pledged commodity. ‘A sufficient sum to cover his demand,’ i.e. twice as much as the principal. Viram. The balance should be handed over to the relatives of the debtor or to the king. Colebrooke’s Digest has another text after these two, in which it is stated that the precise amount of the debt should be ascertained by persons skilled in computation. 31. Col. Dig. I, 3, 126; Smvstié.; Ratn. p. 35. 32, 33. Viv. p.25; Col. Dig. I, 3, 105,118. In ordinary cases, 326 BRIHASPATI. XI, 34. parties are at liberty to do so. But, even before (the stipulated period) has elapsed, they may make an arrangement by mutual consent. 34. Where one field has been mortgaged to two creditors at the same time, it shall belong to that mortgagee who was the first to obtain possession of it. 35. If both have possessed it for an equal time, it shall be held in common (or shared equally) by them. The same rule is ordained in the case of a gift or a sale. 36. Which course should be adopted in cases of a competition between three different acts, the identical property having been sold, mortgaged, and given away on one and the same day ?
The source text as printed, transcribed diplomatically. Where the source language uses a non-Latin script that reaches us only through a Victorian romanisation, this layer is labelled transliteration, because that is what we hold.
Romanised transliteration as printed by the translator, not the original script. This is what we hold.
110. When (such special) interest has been stipulated in any other manner, it must not be paid by any means. 11. Hair-interest, bodily interest, and interest by 7 6. ‘Bodily labour, when the milk of a pledged cow or the strength of a pledged animal for draught or burden is used by the creditor, being, as it were, the interest on his loan. Viram. g, 10. Viram. p. 295; Col. Dig. I, 2, 37 (‘ Katyayana’). ro. ‘In any other manner,’ i.e. by the creditor. Viram. 11. Viram. p. 301; Col. Dig. : 2, 35> [33] 322 BRIHASPATI. XI, 12. enjoyment shall be taken by the creditor so long as the principal remains unpaid. 12. But the use of a pledge after twice the principal has been realised from it, compound interest, and the exaction of the principal and interest (together as principal) is usury and reprehensible. 13. On gold (and other precious metals), the interest may make (the debt) double; on clothes and base metals (such as tin or lead), treble; on grain, it is allowed to rise to four times the original amount, and so on edible plants (or fruit), beasts of burden, and wool. 14. It is allowed to make (the debt) quintuple, on pot-herbs; sextuple, on seeds and sugar-cane; and it may make (the debt) octuple, on salt, oil, and spirituous liquor. 15. Likewise, on sugar and honey, if the loan be of old standing. 16. On grass, wood, bricks, thread, substances from which spirits may be extracted, leaves, bones, leather, weapons, flowers, and fruits, no interest is ordained. 17. A pledge is termed bandha, and is declared to 12. Viv. p.12; Col. Dig. loc. cit. 13-16. Viram. pp. 298, 300; Viv. pp. " 18; May. p. 104; Col. Dig. I, 2, 63, 67, 69. 13. The Viramitrodaya reads Jarmésthivarmandm, ‘leather, bones, and armour.’ 16. The commentators observe that no interest should be exacted, unless there be a special agreement to the purpose. There is, however, another reading (vrrddhis tu na nivartate), under which the purport of this rule becomes quite different, viz. that there is absolutely no limit regarding the interest on the articles mentioned in it. This version is in harmony with the corresponding regulations of other legislators. 17. Col. Dig. I, 3, 80; May. p. 105; Viram. p. 305. XI, 22. THE LAW OF DEBT. 323 be of four sorts; movable or immovable; to be kept only or to be used; to be released at any time, or limited as to time; stated in writing, or stipulated (orally) before witnesses. 18. Should the creditor, actuated by avarice, use a pledge before interest has ceased to accrue on the loan (on becoming equal to the principal), or before the fixed period has expired, such use shall be stopped. 19. The pledge has to be kept carefully, like a deposit; interest is forfeited in case of its being damaged. 20. A pledge having been used and rendered worthless (by such use), the principal (itself) is lost ; if a very valuable pledge be spoiled, he must satisfy the pledger.
219. The pledge has to be kept carefully, like a deposit; interest is forfeited in case of its being damaged. 20. A pledge having been used and rendered worthless (by such use), the principal (itself) is lost ; if a very valuable pledge be spoiled, he must satisfy the pledger. 21. If a pledge be destroyed by a fatal accident or by an act of the king, the debtor shall be caused either to deliver another pledge or to pay the debt. 22. When the debtor restores the principal and asks for his pledge, it must be restored to him ; otherwise the creditor is liable to punishment. 18,19. Col. Dig. I, 3, 92; Viram. p. 306. 20. Col. Dig. I, 3, 86; Viram. p. 309; May. p. 105. 21. Col. Dig. I, 3, 93; May. p. 105; Viram. p. 309. This text has been translated according to the Viramitrodaya. Under the reading of the other compilations, payment of the debt together with interest is enjoined. ‘A king,’ i.e. a ruler who offends against the dictates of religion. Viram. 22. Col. Dig. I, 3,103; Viram. p.319. The rule that the principal only needs to be restored concerns a pledge for use. In the case of a pledge for custody, interest has to be paid besides the principal. Viram. Y2 324 BRIHASPATI. XI, 23. 23. When a field or other (immovable property) has been enjoyed, and more than the principal realised by it, then the debtor shall recover his pledge, if the principal and interest has been actually got out of it (by the creditor). 24. (This law applies) when the debtor delivers a field to the creditor, with the following stipulation, ‘ This (field) shall be enjoyed by you, when interest has ceased (on becoming equal to the principal), that is certain. When the principal has been realised together with the interest, you shall restore (the field) to me.’ 25. When the time (for payment) has passed and interest has ceased (on becoming equal to the principal), the creditor shall be owner of the pledge ; but, till ten days have elapsed, the debtor is entitled to redeem it. 26. Notice having been given to the debtor's family, a pledge to be kept (only) may be used, after the principal has been doubled; and so may a pledge for a fixed period, on the expiration of that term. 27. When the principal has been doubled, or the stipulated period expired in the case of a pledge delivered for a certain time only, the creditor 23. Col. Dig. I, 3, 108; May. p. 107. 23, 24. Viram. p. 320. Under a stipulation of this sort, the mortgagee shall recover his pledge, as soon as the creditor has fully realised his demand out of the mortgage, no matter whether he has - contributed little or much himself towards its realisation. Viram. The Ratndkara (p. 29) inserts the following text after 24, ‘ This lawful rule has been proclaimed with regard to loans on interest and so forth.’ 25. Col. Dig. I, 3,115; Viram. p. 316. 26. Viram. p. 316 ; Col. Dig. I, 3, 119 (‘ Smriti’).
3Viram. The Ratndkara (p. 29) inserts the following text after 24, ‘ This lawful rule has been proclaimed with regard to loans on interest and so forth.’ 25. Col. Dig. I, 3,115; Viram. p. 316. 26. Viram. p. 316 ; Col. Dig. I, 3, 119 (‘ Smriti’). 27, 28. Viram. p. 315. ‘During that interval,’ i.e. before the ten days have elapsed. Viram. These two texts are elsewhere XI, 33- THE LAW OF DEBT. 325 becomes owner of the pledge, after having waited for a fortnight. 28. If the debtor should pay the debt during that interval, he may recover his pledge (even then). 29. When the amount of the debt has been doubled (by the interest accruing on it), and the debtor is either dead or no longer present, (the creditor) may take his chattel and sell it before witnesses. 30. Or, its value having been estimated in an assembly, he may keep it for ten days; after which, having realised a sufficient sum to cover his demand, he should relinquish the balance. 31. When a man neither enjoys a pledge, nor obtains it (from the debtor), nor points it out (to others), his written contract (concerning the pledge) is invalid, (just like) a document when the (subscribing) witnesses and debtor are dead. 32. When a house or field has been mortgaged for use and the period (fixed for such use) has not expired, the debtor cannot recover his property, nor can the creditor (recover) his loan. 33. When the (stipulated) period has elapsed, both attributed to Vyasa. This is probably the correct view, as it is difficult to reconcile these texts either with the preceding or with the following ones. 29. May. p. 106. 29, 30. Viram. p. 316; Col. Dig. I, 3,121. ‘The chattel,’ i.e. the pledged commodity. ‘A sufficient sum to cover his demand,’ i.e. twice as much as the principal. Viram. The balance should be handed over to the relatives of the debtor or to the king. Colebrooke’s Digest has another text after these two, in which it is stated that the precise amount of the debt should be ascertained by persons skilled in computation. 31. Col. Dig. I, 3, 126; Smvstié.; Ratn. p. 35. 32, 33. Viv. p.25; Col. Dig. I, 3, 105,118. In ordinary cases, 326 BRIHASPATI. XI, 34. parties are at liberty to do so. But, even before (the stipulated period) has elapsed, they may make an arrangement by mutual consent. 34. Where one field has been mortgaged to two creditors at the same time, it shall belong to that mortgagee who was the first to obtain possession of it. 35. If both have possessed it for an equal time, it shall be held in common (or shared equally) by them. The same rule is ordained in the case of a gift or a sale. 36. Which course should be adopted in cases of a competition between three different acts, the identical property having been sold, mortgaged, and given away on one and the same day ?
The source text as printed, transcribed diplomatically. Where the source language uses a non-Latin script that reaches us only through a Victorian romanisation, this layer is labelled transliteration, because that is what we hold.
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