1820 June 10

Emancipation Spanish

Ult r

'.7. Rulers gainers

From the consideration of the first circumstance results the following rule

1. Pecuniary circumstances equal, suffering, from the loss of a given sum is greater than enjoyment from the corresponding loss.

Thus, suppose two men whose wants are the same possessed of ,100 each: ,50 suppose is taken from the one and given to the other. I say the suffering to /experienced by/ the loser is more than equivalent to the enjoyment received /experienced/ by the gainer. For, while the property of the loser is diminished by and reduced to one half, the property of the gainer is augmented by no more than one third.

This is one reason why /cause to which/ upon the balance, the practice of gaining is so pernicious /indebted for the preponderant mischievousness of its effects/

2. The lower /the level in which/ a mans circumstances /Other circumstances equal/ stand in the scale of wealth, the greater the enjoyment /suffering/ is, which is produced by teh gain /requisition/ of a given sum, and the greater the suffering produced by the loss of it: and conversely the higher the less the enjoyment and the suffering.

,50 acquired by the man who has but ,100 may make him intensely unhappy: ,50 taken from him /left by him/, still more intensely miserable. ,50 gained or lost by a man who has ,1,000,000 will scarce produce a sensation in either cases.