Great Construction

To Borrow Or Not Borrow Money

     For a period of a little over twenty years I experienced every sort of suffering and anguish due to debt. The anguish can be imagined from the fact that my assets were garnished several times and once I had to declare bankruptcy. What I took from these experiences could be called what I refer to as my philosophy of debt.
     First, to analyze those who want to borrow money, when speaking of debt, there is both positive debt and negative debt. A positive debt is one that can be incurred when starting a project or enterprise based on the calculation that with such-and-such amount of debt, so-and-so amount profit may be had. In other words, a substantial amount of money is calculated to remain after the interest on the loan is deducted from the profit. Everyone knows this. However, with negative debt, expenditures are greater than receipts, so there is never enough money. Usually money is only borrowed when it is unavoidable, but when circumstances become squeezed, there is no room to think of profit and interest. There is only thought of avoiding the danger of immediate urgency, and when circumstances come to a deadlock, there is no room to worry about the issue of whether the interest is high or low, it is sufficient to be able to borrow. Such stories of money lent at high interest are seen these days in the newspapers. When it comes to this stage, it could be said that eight or nine people in ten are at a point that can be likened to the situation right before falling off a cliff. It is truly the hour of death.
     I have described above roughly how to think of debt, but now, let us think of a situation when no debt is incurred. Having no debts means that you possess enough capital to start your own enterprise. Hence, it is unavoidable that the project be on a small scale. For example, say you have 100,000 yen for capital. You start your project with either half or one third of that amount, and leave the rest alone. From a logical perspective, this may seem extremely wasteful. But, that 100,000 yen is not something you had to get from anyone; it must be money that you yourself have accumulated. It is your own money, so it is that much more powerful. Thus, as much as possible projects are started on a small scale. As an example, I started faith healing in May 1934 at Hirakawa-cho in Kojimachi Ward and rented a house with five rooms for 77 yen a month. I thought the place was a little too satisfacory for my purposes, but the conditions of the lease were so good, I went ahead and rented it. At this time, there still remained quite a bit of my old debt, but I rented the house based on my philosophy and the awareness I had acquired as a result of my own debt.
     The fundamentals of my philosophy on debt came as a hint from nature. This can be best understood when observing the human being. As time passes completely helpless infants gradually get bigger and become adults with their own energy and wisdom. Plants are the same. Very small seeds are sown which sprout, bud, form leaves, trunks, branches until finally there is a great tree reaching into the heavens. This is truth. Human beings must learn from this process. Therefore, if these principles are faithfully executed, the meaning of success or accomplishment may be understood, and I decided to start all projects on the smallest possible scale.
     Most people in the world, however, try to begin projects on a large, spectacular scale. When the activities of these people are investigated, most end in failure, examples of which are seen only too often. Most enterprises are started on a large scale, and after failure, unavoidably are consolidated and retrenched, and started again, from which they are successful, instances observed often.
     The world at large does not proceed as reason, theory, or calculations would dictate. There are several reasons for this, but the biggest reason is the mental influence. In other words, the deadline for repayment always comes, so there is worry. Of course, reality never goes as calculated. Good ideas do not come because the head is always occupied by worry. This is the most disadvantageous situation. Vigor does not result because of the constant worry about cash. Even if the exterior looks beautifully adorned, the interior is impoverished both materially and mentally, so all is negative and there is no positive growth. Thus, matters and affairs are always uninteresting if not unpleasant. For merchants, even if  products  may be available at a low price, they cannot be purchased right away, so the prospect of a profit is lost, and because in most cases, finances are in arrears, credit is lost. Interest is by no means negligible, and the longer repayment takes, interest piles upon interest. At these times, hastiness and strain occurs. In all matters and affairs, when one is hasty and overexerts, that is the end. I always warn against this kind of hastiness and overexertion, but surprisingly, most do not perceive their own haste and overexertion. With hastiness and overexertion, success may be had for some time but does not last long. Let me give two or three illustrations.
     The Japanese historical figures Nobunaga and Hideyoshi failed due to haste and forcing. After these two, the government established by Tokugawa Ieyasu lasted three hundred years as a result of his policy. From the very beginning of his path to taking power, he did not show haste or strain. His famous strategy of losing to win might be thought to be difficult, but after retreat and waiting for the right time, a situation came readily that was advantageous to him, and the world rolled over for him naturally. That was good. His famous maxim, “A person has to bear a heavy burden for the long distance of his life; there is no need to hurry” illustrates his character well. Japan’s defeat in the last war has various causes, but it is certain that haste and strain were its ruin. That is because the very beginning started from a negative. The reason for the defeat was probably in not perceiving this initial negativity, and piling upon it haste and strain.
     The most impermissible thing to do is to incur a debt because of debt. This is what happened at the end of the war and led to the overissuance of currency which became a major cause of inflation.
     Soon after the formation of its cabinet, the British Labour Party borrowed 3.7 billion dollars from the United States, and at the time I thought this would become the cause of a future economic crisis. Afterward, to no surprise, it came to be that debt was piled upon debt, the effects of which were signaled by the loss in value of the pound sterling. Compared to the halcyon days of the British Empire when the revenue from colonies and other sources amounted to 300 million pounds, the change in the passing of time is indeed unbearable. Until then, the healthy financial condition of the Empire had been a source of British pride, but after two major wars, the fact that Great Britain has come to be as it is today is inevitably attributable to fate.
     Above I have described the cons of incurring debt and the truth of starting out all affairs and matters on a small scale, and these two truths should be everyone’s motto. Short-term loans whose repayment is certainly possible should only be looked upon as unavoidable exceptions.
     The preceding is the philosophy concerning debt that I advocate.

 Hikari, Issue 35, page 1, November 12, 1949
translated by cynndd

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“Shakkin Ze ka Hi ka,” published originally on the front page of Hikari, Issue 35, November 12, 1949, appeared in two of the four anthologies that were published immediately before and after Meishu-sama’s death. First, it appeared in the essays anthology for ministers Goshinsho: Shūkyō-hen (Divine Writings: Volume on Religion), page 70, March 25, 1954, and then, soon after Meishu-sama died, in the essays anthology for ministers Sekai Meshiya Kyō Seiten: Geijutsu-hen, Shakai-hen (Sacred Writings of Church of World Messianity: Volume on Art, Society), page 206, September 1, 1955. “Shakkin Ze ka Hi ka” has appeared in translation. Citation is given below for reference.

“Is It Good or Bad to Borrow Money?” Foundation of Paradise, 1984, page 232.

“My Philosophy on Debt,” Teachings of Meishu-sama, Volume Three, 2005, page 73.