From what we may infer from the writings of M.
Proudhon, that which has led him to think that gratuitous credit was a logical and definite consequence of social progress, is the observation of the phenomenon which shows a decreasing interest, almost in direct proportion to the rate of civilization.

In barbarous times it is, in fact, cent.

per cent., and more.

Then it descends to eighty, sixty, fifty, forty, twenty, ten, eight, five, four, and three per cent.

In Holland, it has even been as low as two per cent.