This blog gains its name from the book Steele's Answers published in 1912. It began as an effort to blog through that book, posting each of the Questions and Answers in the book in the order in which they appeared. I began the project on Dec. 10, 2011. I completed it on July 11, 2015. Along the way, I began to also post snippets from Dr. Steele's other writings — and from some other holiness writers of his times. I still do that every once in a while.

Thursday, July 3, 2014

The Golden Rule in Business Dealings

QUESTION: A has a mortgage on B's farm, which he forecloses, and C bids it in at the public sheriff's sale and pays the debt, principal and, interest, getting the farm a little less than its value. Should C pay this little less to B?

ANSWER: The Golden Rule would seem to require it, especially if B's failure to pay arose from providential circumstances, such as sickness, or losses by fire or flood, or an unusual scarcity of money at the time of the auction, diminishing the number of bidders and perhaps excluding competition. Many considerations are to be regarded in such a case.

Steele's Answers pp. 167, 168.