« Feedback on 'Who is Good?' | Main | Rating the Energy Companies »

July 07, 2006

'The Use of Money' Online

The definitive history of social investing has not yet been written, but Chapter 1 will have to include a section on John Wesley's sermon, The Use of Money.  Wesley was one of the founders of Methodism, and was noted for his systematic thinking and clear self expression.  He was one of the best-selling authors in England in his day, so he had plenty of opportunity to reflect on the moral aspects of wealth.

First of all, he says, there's nothing wrong with money itself.  "For, let the world be as corrupt as it will, is gold or silver to blame? 'The love of money,' we know, 'is the root of all evil;' but not the thing itself. The fault does not lie in the money, but in them that use it."

His advice is to "get all you can" and "save all you can," but not at the cost of your body or soul.  Don't take a job that could ruin your health.  Don't overcharge your neighbor, or try to run him out of business with predatory pricing.  Don't engage in businesses that hurt other people, either physically (distilling) or spiritually (immoral entertainments).

And then, "give all you can." 

"But let not any man imagine that he has done anything, barely by going thus far, by 'gaining and saving all he can,' if he were to stop here. All this is nothing, if a man go not forward, if he does not point all this at a farther end. Nor, indeed, can a man properly be said to save anything, if he only lays it up. You may as well throw your money into the sea, as bury it in the earth. And you may as well bury it in the earth, as in your chest, or in the Bank of England. Not to use, is effectually to throw it away."