(and copper
coinage is
comprehended
under the
head o f <ajh\)
connefled with actual goods, and not with the femblance of them,
fuch as debts ; and the goods are a trufi in the hands of each partner
refpefiliyely;— whence it is evident that a profit is induced upon
property concerning which there is no refponfibility. It is otherwife
with cajh, becaufe whatever either partner may purchafe with the
capital flock, confifling of cafh, the purchafe thereof is not conne&ed
with the adtual capital, but with its femblance, namely debt, (fince the
price of it is a debt;)— now the purchafe being connefted with the
femblance of the capital, (namely debt,") and the other partner alfo
being liable to be called upon for it, (as a contrail of reciprocity involves
mutual bail,') it follows that the confequence objected (of profit
upon property concerning which there is no refponfibility) is not
induced, fince this is a property in which there is refponfibility.— Secondly,
The firfl transition ia..goods and effebls is the fale of them;
and the firfl tranfaition in cafh is purchafe made with it:-r-now a
perfon felling his property under the condition of another being his
partner in the proceeds is unlawful, fince this is endowing with a right
of property in the debt, and an endowment of right in a debt, made to
any other than the debtor himfelf, is illegal: on the other hand,
his making a purchafe with his own property, under the condition
of another being his partner in the article purchafed, is lawful, fince
this is endowing with a right of property in an abiual fubjlance, and
not in a debt.— Faloos-Rabiha, or fluctuating copper coins, are connected
with dirms and deendrs, [cafh,] as they pafs current, in the
fame manner as gold and filver coin. . Mohammed is of this opinion,
becaufe he holds that faloos are cafh, infomuch that they cannot be
particularifed by fpecification; whence it is that if any perfon were
to purchafe an article, for certain fa.loos, he is at liberty to give any
other faloos in place of them; and alfo, that two fpecified faloos
cannot be fold for one faloos, according to what is eflablifhed. According
to the two elders, partnership, or Mozaribat, are not lawful in
faloos, although they be current, as the valuation of them fluctuates
from time to time, and they at length become the fame as goods or
effeCts.
effeCts*. AbooToofaf is elfewhcro laid to entertain the fame opinion
with Mohammed upon this point. It is..alfo recorded, from Haneefa,
that a contract of Mozdribat is lawful; in current . but not a con_
traCt of reciprocity. Thus partnerfhip by reciprocity is iiui
in any thing beyond dirms, deendrs, and current faloos-f . It is to be or mgoin «.-
obferved, however,' that if gold or filver bullion, by general ufage,
pafs current for value J, in this; cafe partnerfhip by reciprocity is‘ paffesin cur-
law ful in it. This is alfo related in the Kadooree. It is afferted, in rcncy ’
the Jama Sagheer, that partnerfhip by. reciprocity is not lawful in
void or filver bullion; for, according to that authority, uncoined
void and filver are the fame as houfehold fluff, diflinguifhable by
identic fpecification, and therefore incapable of conflituting capital in
either partnerjhip or Mozdribat. It is.faid in the Mabfoot, treating of
exchange, that gold or filver cannot be identified, by fpecification, infomuch
that a contraCl of fale is not broken in confequence of any
accident to the bullion before delivery;— (that is, if a perfon purchafe-
any article, agreeing to give for it certain gold or filver uncoined,
and it be loll before delivery, the contraft of fale is not broken, becaufe
the gold or filver cannot be particularly fpecified.)— Now fuch
being the cafe, it follows (according to this flatement) that uncoined
void or filver are capable of conflituting capital flock, in either Mozdribat
or partnerjhip, on this ground, that the precious metals
were originally introduced for the purpofe of valuation §. T h e opinion
delivered in the Jama Sagheer, however, is the moll approved;
becaufe, although the precious metals were originally introduced for
the purpofes of traffic, yet their capacity to reprefent property depends^
upon their being coined, as when once coined, they are no longer liable
* T h a t is, are no longer current,
f T h a t is, fuch as have not yet become depreciated below the current ftandard.
$ Arab. Simn (or Thlnin ;) meaning a reprefentative o f property^ and therefore ufed (in
purchafe and fale) to exprefsprice.
§ Arab. Sil-Simneeat i that is, fo r the purpofe o f conflitutingprice, or (in other words) o f
reprefentmg property.