I N T 



T»e fixed belaw the lowed market rate, tlie effcfts of this 

 fixation mull be nearly the fame as thofe of a total prohi- 

 bitioH of intereil. The creditor will not lend his money for 

 lefs than the ufeof it is wortii, and the debtor mull pay him 

 for the riik which he runs by accepting the full value of tliat 

 life. The le^al rate, though it oujrlit to be fomewhat 

 above, oii^^jht not to be much above tlie loweft market rate. 

 If the lesral rate of intereft in Great Britain, for example, 

 was fixed fo higli as 8 or lo per cent., llie g-.eater part of the 

 money which was to be lent, would be lent to prodigals and 

 projeclors, who alone would be willing to give this high iH- 

 tereft. Wliere the legal rate of interell is fixed but a very 

 Lttle above the lowell market rate, fober people are uni- 

 verfally preferred, as borrowers, to prodigals and projedors. 

 Then a great part of the capital of the country is thrown 

 into the hands in which it is moll likely to be employed with 

 advantage. The ordinary market price of land depends 

 every where upon the ordinary market rate of interelt. If 

 the rent of land ihouM fall fliort of the intereil of money by 

 a confiderable difference, nobody would buy land, which 

 would foo:i reduce its ordinary price. On the contrary, if 

 the advantages fnould much more than compenfate the dif- 

 ference, every body would buy land, which would foon 

 again raife its ordinary price. When intereil was at \oper 

 cent., land was commonly fold for lo and 12 years' purchafe. 

 As intereil funk to 6, 5, and 4 per cent., the price of land 

 rofe to 20, 23, and 30 years' purchafe. As to the legal in- 

 tereil in this country, it has varied and decreafed for 200 

 years pall according to the acceffion of trade, tJie introduftion 

 of paper credit, and other circumllances. The Itat. 37 Hen. 

 VIII. c. 9. confined intereil to lopercent. In the reign of Ed- 

 ward VI. religious zeal prohibited all intereil. The llatute of 

 Henry V^III. was revived by the 15th of Elizabeth, cap. 8. 

 and 10 per cent, continued the legal rate of intereil till the 

 2 1 11 of James I., when it was rellrided to 8 per cent. It 

 was reduced to 6 per cent, foon after the relloration, and by 

 the 12th of Ann. liat. 2. cap. 16. it was brought down to 

 ^ per ctnt. yearly, which is now the greatell legal intereil that 

 can be taken. But yet, if a contract which carries intereil 

 be made in a foreign country, our courts will diredft the pay- 

 ment of intereil according to the law of that country, in 

 which the contrail was made. 



IxTEKEST, Inter-Jfe, in Latv, is commonly taken for a 

 chattel real, as a leale for years, &c. and more particularly 

 for a future term ; in which fenfe it is faid in pleading, that 

 one is pofTelfed de Intereje termini : therefore an ellate in lands 

 is better than a right or intereil in them. But in legal un- 

 derliahding, an intereil extends to ellates, rights, and titles, 

 tliat a man hath in or out of lands, &c. fo as by grant of his 

 wh*le intereft in fuch lands, a reverlion therein, as well as 

 polfeflion, in fee-fimple, Hiall pafs. 



Interest on legacies. In cafe of a veiled legacy, dueim- 

 mediately, and charged on land or money in the funds, 

 which yield an immediate profit, intereil Ihall be payable 

 thereon from the tellator's death ; but if charged only on 

 the perfonal e!late, which cannot be immediately got in, it 

 fhall carry intereil only from the end of the year, after tlie 

 death of the tellator. If a legacy be devifed, and no certain 

 time of payment mentioned, and the legatee be an infant, he 

 Ihall have intereil for the legacy from the expiration of one 

 year after the teftator's death ; hut if the legatee be of full 

 aee, he Ihall have no intereil but from the time of the dc. 

 mand of the legacy. Where a legacy is payable at a day 

 certain, it mull be paid with intereil trom tliat day. 



iNTERiiST, Punitory. See Punitoky. 



IxTEiiKsT or no Interejl, a denomination applied to in. 

 furances made without having any property on board the 



Vol.. XIX. 



INT 



(liips, in which large fums were infured. The ftatnte 

 19 Geo. II. c. 37. enacled thi.t all fucii infurances Ihould 

 be null and void. See Marine Insi'RAXCK. 

 INTERESTED Witne; s. See Witness. 

 INTERESTING, in the Suppl. to the folio Encyclo- 

 pcdie, has been made an article for the Beaux Arts, without 

 the leall allufion to mulic. But dull and uninterelling munc 

 is, perhaps, more tirefome than the fame degree of inllpidity 

 in painting and poetry. You can quit a pidlure or a book 

 whenever you pleafe ; but at a public performance of mu- 

 fie, you have no efcape from the bad compofition or per- 

 formance. A young compofer, ambitious of fame, and of 

 endearing himfelf to the public, {honid never write for 

 writing fake, he fhould not feizehis pen without ideas, with- 

 out a fubjecl. There is no art which has more alluring 

 means of obtaining attention. Grace, pathos, fire, fiincy, 

 hilarity, rich harmony, and learned modulation, cannot all 

 have admifiion in the fame piece ; yet it is abfolutely necef- 

 fary that at lead fome op.e of thefc excellencies Ihould predo- 

 minate throughout a regular movement. And where a com- 

 pofer, not certain of his fifrtility and powers of pleafing, has 

 hallily committed his thoughts to paper, he Ihould (liut it up 

 in his dellc for at leall nine days, if not nine years ; at the 

 end of which he fiiould perform it as the produdion of a 

 ftranger ; then alk himfelf what intereft he thinks his piece 

 would excite in an intelligent and impartial audience ; and if 

 felf-love is not the bhndeft of all loves, he will perceive 

 where he is dull, and where genius and abilities are wanting. 

 INTERFEMINEUM, a word ufed by fome to exprefs 

 the perinaeum. 



INTERFERE, in the Manege. A horfe interferes, 

 when the fides of one of his flioes ttrikes againll and hurts 

 one of the fetlocks. See Cutting. 



INTERJECTION, in Grammar, an expreffion nfed to 

 denote fome fudden motion or paifion of tlie mind ; as oh ! 

 oh ! Thefe exclamations, uttered in a Urong and paflionats 

 manner, are confidered by fome writers as the firft elements 

 or beginnings of fpcech. 



As the greatell part of the exprelTions nfed on thefe oc- 

 cafions are taken from nature alone, the real interjeftions in 

 moll languages are monofyllables : and as all nations agree 

 in thofe natural palTions, fo do they agree in the figns and 

 indications of them ; as of love, mirth, &c. 



Some deny the interjeftions to be words, or any part of 

 fpeech ; and make them mere natural figns of the motions 

 or pallions of the mind, expreiTcd by thefe inarticulate founds, 

 leveral whereof brutes have in common with us : but as 

 thefe are paflions, and mull be reprefetited in difcourfe, the 

 interjedlion has a good foundation in nature, and is a necef- 

 fary part of fpeech. 



Mr. Harris obferves, that interjcftions coincide with no 

 part of fpeech, but are either uttered alone, or elfe thrown 

 intoafentence, without altering its form, either in fyntax or fig- 

 nification ; and that they are not fo properly parts of fpeech, 

 as adventitious founds ; certain voices of nature, rather than 

 voices of art, exprefling thofe palfions snd natural emotions, 

 which fpontaneoully arifc in the human foul, upon the view 

 or narration of iaterclling events. Hermes, p. 285. 



Mr. H. Tooke, in his " Diverfions of Puilcy," excludes 

 interjections from the parts of fpeech ; ard aflerts, that " tlie 

 dominion of fpeech is erefted upon the downfall of interjec« 

 tioHs." See Gkam.mab. 



The Greeks confound their interjcflions with adverbs, 

 and the Hebrews confound them with .their adverbs and 

 prcpofitions: calling lliem all by the general name par- 

 ticle. 



Nn INTERL\t» 



