A32502	----	By the King. A proclamation for removing the receipt of His Majesties exchequer from Westminster to Nonsuch Proclamations. 1665-07-26. England and Wales. Sovereign (1660-1685 : Charles II) 1665 Approx. 3 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-10 (EEBO-TCP Phase 1). A32502 Wing C3416 ESTC R216305 99828039 99828039 32466 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A32502) Transcribed from: (Early English Books Online ; image set 32466) Images scanned from microfilm: (Early English books, 1641-1700 ; 1944:15) By the King. A proclamation for removing the receipt of His Majesties exchequer from Westminster to Nonsuch Proclamations. 1665-07-26. England and Wales. Sovereign (1660-1685 : Charles II) Charles II, King of England, 1630-1685. aut 1 sheet ([1] p.) printed by John Bill and Christopher Barker, printers to the Kings most Excellent Majesty, London : 1665. At end: Given at our court at Hampton-Court, the six and twentieth day of July, 1665. in the seventeenth year of our reign. God save the King. Reproduction of the original in the Guildhall Library, London. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng England and Wales. -- Exchequer -- Early works to 1800. Finance -- England -- Early works to 1800. Great Britain -- History -- Charles II, 1600-1685 -- Early works to 1800. 2008-07 TCP Assigned for keying and markup 2008-08 SPi Global Keyed and coded from ProQuest page images 2008-09 Mona Logarbo Sampled and proofread 2008-09 Mona Logarbo Text and markup reviewed and edited 2009-02 pfs Batch review (QC) and XML conversion C R DIEV ET MON DROIT HONI SOIT QVI MAL Y PENSE royal blazon or coat of arms By the King. A PROCLAMATION For removing the Receipt of His Majesties Exchequer from Westminster to Nonsuch . CHARLES R. THe Kings most Excellent Majesty taking into His Princely Consideration the great and dangerous increase of the Plague in and about the City of Westminster , where His Majesties Receipt of Exchequer hath been hitherto kept ; & willing , as much as is possible , to prevent the further danger which might ensue as well to His own Officers , which are necessarily to attend the same Receipt , as to other His loving Subjects , who shall have occasion either for Receipt or Payment of Moneys to repair thither ; Hath therefore taken Order for the present Remove of the Receipt of His said Exchequer , together with the Tally-Office , and all things thereunto belonging , from thence to His Majesties Honour of Nonsuch in the County of Surrey : And hath thought fit by this His Proclamation to Publish , That the same shall be there opened on the Fifteenth day of August next , to the end that all persons whom the same may concern , may take notice whither to repair upon all occasions , concerning the bringing in , or issuing out of His Majesties Treasure at the Receipt of His Exchequer . Willing and requiring all Sheriffs , Bayliffs , Collectors , and all other Officers , Accomptants , and persons whatsoever , who are to pay in any Moneys into the said Receipt of His Majesties Exchequer , or otherwise to attend the same , to keep their days and times at Nonsuch aforesaid , and there to do , pay , and perform in all things , as they should , or ought to have done at Westminster , if the said Receipt of Exchequer had continued there . And this to be done and observed until His Majesty shall publish and delare His further Pleasure to the contrary . Given at Our Court at Hampton-Court , the Six and twentieth day of July , 1665. in the Seventeenth year of Our Reign . God save the King. LONDON , Printed by John Bill and Christopher Barker , Printers to the Kings most Excellent Majesty , 1665. 
A32503	----	By the King, a proclamation for removing the receipt of His Majesties exchequer from Non-such to Westminster England and Wales. Sovereign (1660-1685 : Charles II) 1665 Approx. 2 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-03 (EEBO-TCP Phase 1). A32503 Wing C3417 ESTC R30901 11687037 ocm 11687037 48151 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A32503) Transcribed from: (Early English Books Online ; image set 48151) Images scanned from microfilm: (Early English books, 1641-1700 ; 1482:4) By the King, a proclamation for removing the receipt of His Majesties exchequer from Non-such to Westminster England and Wales. Sovereign (1660-1685 : Charles II) Charles II, King of England, 1630-1685. 1 broadside. Printed by Leonard Lichfield for John Bill, and Christopher Barker ..., Oxford : 1665 [i.e. 1666] "Given at our court at Oxford the 5th day of January in the seventeenth year of His Majesties reign." Reproduction of original in the Cambridge University Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng England and Wales. -- Exchequer. Finance -- England. Proclamations -- Great Britain. 2008-07 TCP Assigned for keying and markup 2008-07 SPi Global Keyed and coded from ProQuest page images 2008-08 Mona Logarbo Sampled and proofread 2008-08 Mona Logarbo Text and markup reviewed and edited 2008-09 pfs Batch review (QC) and XML conversion C R HONI SOIT QVI MAL Y PENSE royal blazon or coat of arms BY THE KING . A PROCLAMATION , For removing the Receipt of His Majesties Exchequer from Non-such to Westminster . CHARLES REX , THe King 's Most Excellent Majesty upon Weighty Considerations hath thought fit , to remove the Receipt of His Exchequer , together with the Tally-Office , and all things thereunto belonging from His Honour of Non-such , where the same is now kept , to the City of Westminster ; And doth therefore by this His Proclamation Publish , That the same shall be there opened on the Twentieth day of this instant Month of January , to the end that all Persons , whom the same may concern , may take notice to repair thither upon all occasions , concerning the bringing in , or issuing out of His Majesties Treasure , at the Receipt of His Exchequer . Willing and Requiring all Sheriffs , Bayliffs , Collectors , and all other Officers , Accomptants , and Persons whatsoever , who are to pay in any Moneys into the said Receipt of His Majesties Exchequer , or otherwise to attend the same , to keep their days and times at Westminster aforesaid , and there to doe , pay and perform in all things , as they should or ought to have done , if the said Receipt had not been removed , but there continued . Given at our Court at Oxford the 5th day of January in the Seventeenth year of His Majesties Reign . GOD SAVE THE KING . OXFORD : Printed by Leonard Lichfeild Printer to the University , For John Bill , and Christopher Barker , Printers to His Majesty , Anno Dom. 1665. 
A27255	----	To the honourable the Commons of England assembled in Parliament proposals humbly offered to lay down a method which will totally prevent all robberies upon the highway, raise five hundred thousand pounds per annum to the government, and increase dealings of all kinds ... Beeckman, Daniel. 1695 Approx. 16 KB of XML-encoded text transcribed from 5 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2008-09 (EEBO-TCP Phase 1). A27255 Wing B1687 ESTC R32952 12802347 ocm 12802347 94078 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A27255) Transcribed from: (Early English Books Online ; image set 94078) Images scanned from microfilm: (Early English books, 1641-1700 ; 1518:9) To the honourable the Commons of England assembled in Parliament proposals humbly offered to lay down a method which will totally prevent all robberies upon the highway, raise five hundred thousand pounds per annum to the government, and increase dealings of all kinds ... Beeckman, Daniel. 8 p. s.n., [London : 1695] Caption title. Attributed by Wing and NUC pre-1956 imprints to Beeckman. Place and date of publication suggested by Wing. Reproduction of original in the British Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Finance -- England. Money -- England. 2006-04 TCP Assigned for keying and markup 2006-05 Apex CoVantage Keyed and coded from ProQuest page images 2007-05 Robyn Anspach Sampled and proofread 2007-05 Robyn Anspach Text and markup reviewed and edited 2008-02 pfs Batch review (QC) and XML conversion To the HONOURABLE the Commons of England Assembled in Parliament . PROPOSALS Humbly Offered to lay down a Method which will totally prevent all Robberies upon the High-way , Raise Five Hundred Thousand Pounds per Annum to the Government , and Increase Dealings of all kinds . 1. By Erecting Chambers of Accompts in the Kingdom , to return money from place to place , as Trade shall require . 2. By a Computation made of the number of people in England , Wales , &c with the consumption of Goods transferred from place to place throughout the Kingdom . 3. The Ways of transmitting moneys , from place to place , on sight of Bills , and ballancing of Accompts . 4. By wayes and means to furnish those Chambers of Accompts with Cash , sufficient to answer , in ready moneys , all the Goods that shall be bought and sold throughout the Kingdom . 5. By presuming that the Profits , arising from the said Chambers , will amount to the sum of 500000 l. per Annum ; Persons paying no more for such returns than has been Customary , time out of mind , on the like occasions . 1. WERE there Four Grand Chambers of Accompts erected in London , ( being the Metropolitan City of the Kingdom ) to answer all Countys in England , Wales , &c. and those nominated The Principal or Grand Chambers of each County , or Division ; and let them have power to fix a Petty Chamber in most Principal Towns of Trade , throughout the Kingdom , &c. Providing for every Principal or Grand Chamber , a different Stamp ; with Numbers to be kept in every Petty Chamber , so fixed , ( as aforesaid ) placing Clerks , in each Chamber of London , distinctly for each County . And were all Inland Bills strictly forbid , and all Gentlemen , and Chapmen , Carriers , and Hagglers , Prohibited from Travelling with any Sum or Sums of money ( more than to Defray their Travelling Charges : ) But so often as occasion offers , let each , and every Person , pay such greater Sums of money into any of the Chambers , from whence it may be Remitted to any place , as desired , with as great Expedition as the General Post can reach it : The Party having his money so Remitted , paying for the same Three Pence per Pound ; or something more or less , according to the distance of Place from whence it shall be so Remitted . 2. IT is supposed ( by common Computation ) that there are Six Millions of people in the Kingdom of England , Dominion of Wales , &c. ( which if so ) they cannot subsist , one with another , for less Charge , in Meat , Drink , and Apparel , than Seven Pounds per Annum each person , which amounts to Forty Two Millions Yearly expended in the way of Trade and Commerce ; which at Three Pence per Pound , Annually paid for such Returns , or Transmittances of money , as aforesaid , amounts to the Sum of Five Hundred Twenty Five Thousand Pounds per Annum , besides the large Sums that are expended in a Year for Houshold Goods , Plate , Jewels , &c. ☞ Note , What is Consumed in the Year must be the Gain of Trade ; the Returns are infinitely more . 3. SUPPOSE a Merchant , or any other Trader , or Dealer , sells his Goods , Cattle , or Wares , in any part of the Kingdom , &c. receiving his moneys for the same , being the Sum of a Thousand pounds , more or less ; he or they paying such sum or sums into the Chamber next adjoyning , may have it remitted to any part , without running any Hazard ; the person receiving the same , discounting Three Pence per pound , more or less , according to the distance of place : And upon payment of his moneys into the said Chamber , he shall Receive a Bill of Return indented ; the Office or Chamber Filing another of the same Date ; and a third so agreeing with the two former , shall be sent to the place , where he intends to receive the same , with advice to pay it to the said Party , or his Order , upon the sight of the Party's Bill so mentioned , making such payment in good Currant Coin of England ; and upon payment thereof , to give his Receipt , indorsed upon the said Bill , for so much Moneys , as the said Bill expresses to be due : By which means every Petty Chamber may be able to adjust his Accomps with the Grand Chambers of London , as often as they shall be required to do the same . 4. AS to the Furnishing the said Chambers with Cash sufficient to answer such Ends , I presume the moneys Collected for the KING's Taxes ; The Excise , and other moneys already Charged , and to be Charged , by Act of Parliament , with Moneys payable for all manner of Goods or Commodities through the Kingdom in parts remote ; being paid into the said Chambers , in each Town or County , as aforesaid , in order to be Remitted to other parts of the Kingdom ; may ( as I humbly conceive ) answer the ENDS Proposed , with all Objections that shall be made against it ; only allowing Petty Chapmen , who shall Travel the Country for some Miles , to lay out moneys in order to buy up Goods ; as Wooll , &c. buying two or three Tod in one place , and three or four in another , where they can meet with them : For it is not to be imagined , such Chapmen as these : shall have their moneys remitted , by reason of the great uncertainty in what place they shall buy their Goods : But my meaning is , That such Persons , who bring their Goods to a certain Town or Market , selling them for considerable sums ; and such Persons , who shall carry in their moneys to a Market or Fair to Buy with . ( As for Example . ) A Person living at Exeter , or any other place , hearing of a parcel of Wooll to be sold at Northampton , or any other place Cross the Country , though far remote ; The said Party , paying the moneys he intends to lay out , into the Chamber of the Town aforesaid , the Clerk of that Chamber , sending up the Advice-Indenture , to the proper Clerk of the said County , he shall Remit the moneys to the Chamber of the said Town , with as much expedition , as the Post can make : And in like manner , may all Gentlemens Rents , or moneys for Portions , and Purchases be transmitted throughout the Kingdom . For if any person shall adventure to Travel with Sums of money , after having such conveniencies provided for their so safe and easy ways of Remittances , I Judge the Country ought not to be Liable to make good what shall be so lost by Robberies after such Bold and Daring Adventures . And they may keep an exact Ballance on all occasions , in all places , and at all times throughout the Kingdom ; by which means each Town may have a Bank of money by them , which , ( as I conceive ) will be no small Increase of Riches throughout the Kingdom , causing all manufacturies to flourish much more than hither to they have done , the failure of which is thought to befor want of Moneys among them , which has occasioned many Country people to try their Fortunes in London , where money is more plenty , which hath much depopulated the Country , thereby damnifying very much both Gentlemens Estates , and done great injury to all Manufacturies . FURTHER , There are several principal Towns and places of Trade ; as Exeter , Norwich , Colchester , Hull , Leeds , &c. wherein the Goods are bought by the Inhabitants of the said places , and there vended ; which moneys , with the Kings Revenues , being paid into the Bank of the said places , must inevitably be equivolent to the manufactures made in the said Towns , and vended else-where : For suppose each of those do vend and make great quantities of Woollen manufacturies , being the Stable Commodities of the Kingdom , the more they make the better , being the greater number of People must be imployed therein ; And we find by experience , That ( by the Wisdom and Providence of GOD ) Noblemen , Gentlemen , Shopkeepers , Merchants , &c ▪ are so promiscuously intermixed in Towns and Villages among Handicrafts , being subservient one to another , as different members of one and the same body ; and supposing there are Twenty or Thirty Thousand Souls in each Town or place ; These must all be Fed and Cloathed , with all things according to their several Ranks and Qualities ; and , by consequence , must Trade in Linnen , Woollen , Silk , &c , and in all Grocery Wares , Wine , Oyl , Tobacco , Iron , Lead , Tin , Copper , Glass , &c. and in all sorts of Grain , Cattle , Fruits , Dyes , and Druggs , without which , no place can well subsist . Now let the Traders of the said Towns , and Villages nigh adjacent , pay into the Banks of the said places , all the moneys which shall become due in Parts remote , for the Goods vended by them : The prime cost of all such Goods consumed , together with the Money Collected for Excise , the Land Tax , and Customs , being paid into the next Chamber , or Bank , in or nigh the place , must make a sufficient Fund of Money in all the Banks of each County , Town , or City , to answer all Goods and Manufactories that shall come out of the Countries , being the prime Cost of materials are allowed for : But if any Merchant or Dealer suppose the Manufactures made in the Countries , and sent abroad , are of greater value than the prime Cost of Goods , that are bought and consumed in the Countrys ; I beg to know how it happens , That such Town or County has not gain'd the greatest part of the Kingdoms Wealth ; which , if any person satisfies me in , I shall look upon all my pains , and serious thoughts , about this Project , to be vain imaginations , and shall desist further to urge it . AND so soon as the KING's Money shall be paid into any of the said Chambers in the Country , it may be drawn off here from the Chief Chambers in London , at the pleasure of the Lords of the Treasury : Which will occasion the Paying in of the Kings Revenues into the Exchequer with more Expedition by the Sub-Collectors , being the first Charge laid upon the Moneys given His Majesty , which will save the Government 100000 l. per Annum . so much and more being now paid for Collecting ; going through so many Hands . 5. I Humbly Conceive it may be highly improved , in like manner as the Post-Office has been since the first Establishment thereof , which will conduce much to the Good of Trade , both in City and Country : For if A. B. or C. suffer for not having Returns of Money , according to expectation or desire , certainly the greater part of the Alphabet must sensibly Feel it one way or other . But this Method being taken , it must , by consequence , lessen the Interest of money , highly advance Lands , increase the Income of the General Post-Office ; I presume by modest Computation , it will add a Third part , more to the Incomes of the same . This I humbly conceive ( if approved on by His Majesty , and the Honourable Houses of Parliament ) may be worth Five hundred thousand pounds , per Annum . or more , without hurting the Subject ; paying no more for their Returns of Money , than they commonly now do upon occasion of such Returns by Carriers , or otherwise . Therefore the Terms in my Propositions being so easy ( and the Service of so great value ) I hope no Man can rationally Grudge at it , obtaining so great a Benefit by it ; For I clearly conceive , both City and Country will Improve and Encourage such an Establishment , as shall make Moneys Circulate upon all Occasions to their great advantage . AND this being Proposed for the Publick Good , I hope it will not be Postpon'd , but rather meet with that Encouragement from the Government , as may render it Useful for the Matter intended ; which will not only be a Great Benefit , but also a Great Honour to the Kingdom . And I hope the Objections that may be raised against my Proposals , are so Rationally Answered , as with Ease to be understood ; relating to the Advance of Trade ; the Improvement of Estates ; the safe and quick Transmittances of Rents ; the Benefit accrewing to the Post-Office : And in Removing of the Cause , it will most Effectually be the preventing of Robberies by High-way Men. By D. B. By C. L. ☞ Note , IT is allowed , by most men of Deallings , that the Consumption of this City , within the Weekly Bills of Mortallity , is vastly Great . The Number of Black Cattle Consumed per Week , Computed about Three Thousand ; Calves , Sheep , Lambs , and Hoggs , about Thirty Thousand ; the value of all sorts of Grain not to be Known , besides the vast Quantities of Woollens that are bought from the Countreys : From all which , 't is plain , there may be One Hundred Thousand Pounds saved to the Government , by drawing off the Kings Revenues and Taxes ; ( as aforesaid ) which will more than defray the Charge of such an Advantageous Settlement , and the Kingdom will become as one intire Trading Body . FINIS . 
A29534	----	An abstract of the Discourse on the late funds of the Million-act, Lottery-act, and Bank of England Together with proposals for the supplying their Majesties with money on easy terms, exempting the nobility and gentry, &c. from taxes, enlarging their yearly estates, and enriching all the subjects in the kingdom. Humbly offered and submitted to the consideration of the Lords spiritual and temporal, and Commons in Parliament assembled. By J. B. Discourse on the late funds of the Million-act, Lottery-act, and Bank of England. Abridgments Briscoe, John, fl. 1695. 1694 Approx. 28 KB of XML-encoded text transcribed from 8 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2007-10 (EEBO-TCP Phase 1). A29534 Wing B4738 ESTC R212358 99825478 99825478 29860 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A29534) Transcribed from: (Early English Books Online ; image set 29860) Images scanned from microfilm: (Early English books, 1641-1700 ; 2165:11) An abstract of the Discourse on the late funds of the Million-act, Lottery-act, and Bank of England Together with proposals for the supplying their Majesties with money on easy terms, exempting the nobility and gentry, &c. from taxes, enlarging their yearly estates, and enriching all the subjects in the kingdom. Humbly offered and submitted to the consideration of the Lords spiritual and temporal, and Commons in Parliament assembled. By J. B. Discourse on the late funds of the Million-act, Lottery-act, and Bank of England. Abridgments Briscoe, John, fl. 1695. Briscoe, John, fl. 1695. Discourse on the late funds of the Million-act, Lottery-act, and Bank of England. 15, [1] p. [s.n.], London : printed in the year, MDCXCIV. [1694] Signed at end: John Briscoe. Copy has some print show-through. Reproduction of the original in the Henry E. Huntington Library and Art Gallery. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). 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Keying and markup guidelines are available at the Text Creation Partnership web site . eng Bank of England -- Early works to 1800. Finance -- England -- Early works to 1800. Banks and banking -- England -- Early works to 1800. 2006-05 TCP Assigned for keying and markup 2006-07 Apex CoVantage Keyed and coded from ProQuest page images 2006-09 Mona Logarbo Sampled and proofread 2006-09 Mona Logarbo Text and markup reviewed and edited 2007-02 pfs Batch review (QC) and XML conversion AN ABSTRACT OF THE DISCOURSE ON THE Late FUNDS of the Million-Act , Lottery-Act , and Bank of England . Together with PROPOSALS for the supplying their Majesties with Money on easy Terms , exempting the Nobility and Gentry , &c. from Taxes , enlarging their Yearly Estates , and enriching all the Subjects in the Kingdom . Humbly offered and submitted to the Consideration of the Lords Spiritual and Temporal , and Commons in Parliament assembled . By J. B. London , Printed in the Year , MDCXCIV . I Have in a larger Treatise shewed , that no Place is better situated for Trade than England ; but that the great Encouragements given to such who advanced Money on the Funds of the Million-Act , Lottery-Act and Bank of England , were very prejudicial in that they increased the Interest of Money , which I demonstrated to be very destructive to the Trade of the Kingdom . I proved that for the Million raised in 1692 , ( had the whole been paid in upon Annuities with Survivorship ) the Nation would have paid 9314216 l. 13 s. 9 d. more than the Principal and Interest , and Interest upon Interest , at 5 l. per Cent. per Annum ; and that for advancing a Million of Money on the Lottery-Act , the Nation will pay 1129174 l. 5 s. 2 d. in sixteen Years time more than their Principal and Interest , and Interest upon Interest ; and that the Bank of England , if they shall be continued for sixty Years , will be paid for the 1200000 l. advanced by the Contributors to their Majesties , above 14 Millions more than their Principal and Interest , and Interest upon Interest . I have shewed that these great Encouragements to advance Money on the late Funds will ruin the Trade of the Kingdom ; that Tradesmen who trade with their own Stocks draw their Money out of Trade to advance on these Funds ; and those who lend Money to Tradesmen wherewith to drive their Trades , call it out of their Hands , or force them , ( if they continue it with them ) to give a higher Interest to their undoing , by reason they can make a greater advantage by advancing their Money to the Government ; that this high Interest will fling the Trade of the Nation into the Hands of Foreigners , who pay less Interest , and who can therefore under-sell us at Foreign Markets ; and that these Funds divert the Genius of the Subjects from their Business , while our Neighbours keep close to their Trade , and take that inestimable Jewel out of our Hands . I also proved that it is no less destructive to the Nobility and Gentry , &c. of the Kingdom , in that it would bring Land to 12 or 14 Years Purchase ; that a Person who hath 50 l. per Annum in Land , if he sell it for 600 l. being 12 Years Purchase , he may purchase 50 l. per Annum in the Bank , free from Taxes , whereas he must pay for the Tax of 4 s. in the Pound laid on his Land , and Charge of the Militia , &c. at least 12 l. per An. And that he may have 500 l. at an hour's warning of the Bank upon the Security of his 600 l. whereas he cannot without great Difficulty , loss of Time , and Expence in examining Titles , Procuration , Continuation , &c. raise so much upon the Credit of his Estate ; and that the very Bank-Bills will be preferr'd before Land , because a Man may have 60 l. 16 s. 8 d. per Annum Interest for 2000 l. Bank-Bills , and have 2000 l. always lying by him ; whereas 2000 l. laid out in Land will not bring him in more Profit , upon which he can hardly raise 1000 l. without great Trouble , Charge and loss of Time. These Considerations put me upon considering of other Methods for the Supply of their Majesties , and for the Ease of the Subject , which I laid down in several Proposals , in substance as follows , viz. PROPOSALS . THat it be enacted , That any Person who hath an Estate in Fee , may have leave to settle his Estate upon twenty Commissioners , four to be appointed by their Majesties , six by the House of Lords , and ten by the House of Commons , in Trust for a Security to make good all Bills , which shall be issued out upon the Credit of such Estate . That the Commissioners shall appoint twenty Counsel to examine the Titles of all the Estates proposed to be settled ; and that no Estate shall be settled , but it shall be first entred in the particular Register to be kept in the chief Town of the County where such Estate lies , and in the general Register to be kept in the City of London for the space of six Months ; in which time , if no Caveat shall be entred against the Settlement of such Estate , and that three of the Counsel shall signify it under their Hands , that it is a good Title , such Estate shall be settled , and Bills of Credit to the value of 20 Years Purchase of such Estate shall be issued out by the Commissioners upon the Security of the said Estate . That the said Bills of Credit shall be made from 5 l. to 100 l. value each , and shall be current in Paiment by Endorsement toties quoties ; and any Person who shall take any of the said Bills may renew them once every Month if they please , without Fee or Reward . That these Bills of Credit may be advanced to their Majesties by Authority of Parliament , ( and not otherwise ) their Majesties paying to those upon the Security of whose Estates the said Bills are issued out , 3 l. per Cent. per Annum Interest for the same , out of any Parliamentary Fund settled or to be settled for those Purposes , or upon the Paiment of any of the following Annuities out of some Parliamentary Fund in lieu of Principal and Interest , viz.       l. s.   For an Annuity of 100 Years   3 10 per Cent. per An. 66 Years 8 Mon. 4 00 50 Years   4 10 40 Years   5 00 33 Years 4 Mon. 5 10 25 Years   6 10 20 Years   7 10 16 Years   8 15 13 Years 4 Mon. 10 00 10 Years   12 10 For each hundred Pounds value in Bills of Credit so advanced to their Majesties 2 l. 10 s. per Cent. per Annum , part of the said Annuities to be paid by the Commissioners to the Persons who shall settle their Estates , and all the Residue of the said Annuities to pay off and cancel every Year part of the Bills of Credit ; by which means all the Bills of Credit will be paid and cancell'd in the determined Number of Years , for which the Paiment of such Annuity was settled . That those who advance the said Bills of Credit to their Majesties upon any Parliamentary Fund , shall be exempted from all Land-Taxes for so much of their yearly Estates in proportion to the Bills of Credit advanced by them to their Majesties . That any Person may have Bills of Credit for his own use upon the Security of his Estate , paying the Commissioners , &c. 10 s. per Cent. per Annum , for the Charges in issuing out and renewing the said Bills of Credit , or upon Paiment of any of the following Annuities in lieu of Principal and Interest ; that is to say ,     l. s.   For an Annuity of 50 Years   2 10 per Cent. per An. 40 Years   3 00 33 Years 4 Mon. 3 10 25 Years   4 10 20 Years   5 10 16 Years   6 15 13 Years 4 Mon. 8 00 10 Years   10 10 10 s. per Cent. per An. part of the said Annuities , to be paid to the Commissioners , &c. for their Charges ; and with the Residue of the said Annuities the Commissioners are to pay off and cancel every Year part of the Bills of Credit , till all the Bills of Credit shall be paid and cancelled . That it shall be High-Treason to counterfeit any of these Bills , or to offer them in Paiment , knowing the same to be counterfeited . The Advantages of these proposed Bills of Credit will be numerous . First ; Their Majesties will be supplied with Money on easy Terms , and the Subject loaded with fewer Funds , and it will inseparably unite their Majesties and the People in each others Interest . Secondly ; These propos'd Bills of Credit being a new species of Money , and to all Intents as useful as Money ; it will be ( as it were ) an introducing so many fresh-monied Men into the Kingdom with several Millions more than was before , for the Supply of their Majesties ; and each Million value in Bills of Credit issued out upon the Security of Gentlemens Estates , being employed in Trade , will bring in 60000 l. per Annum Profit every Year to the Nation . Thirdly ; It will keep great Sums in the Nation that are paid to Foreigners for Interest , and will enable those Subjects to lend , who are now forc'd to borrow of others . Fourthly ; It will animate our Merchants , encourage Handicrafts and Artificers ; it will bring new Manufactures into the Kingdom that cannot now be wrought here by reason of high Interest , and set many thousands to work who are in a starving Condition for want of Employment : It will turn the Genius of the Subject into the right Channel , by putting them upon the improving their Money by Trade : It will ease all the Nobility and Gentry from Taxes , who shall advance Bills of Credit to their Majesties upon the Security of their Estates , and will add 50 or 60 l. per annnm to every 100 l. per annum of their present Estates . Fifthly ; Gentlemen will have an Opportunity of improving their Estates by Building , Planting , draining or watering their Land , who cannot now afford to do it , by reason of high Interest and Scarcity of Money : It will clear Gentlemens Estates from all Incumbrances , and will enable them to raise Portions for their Children ; and will raise the Value of Land to 40 or 50 Years Purchase . A Gentleman of an 100 l. per annum , if he settle his Estate , may have 2000 l. Bills of Credit upon it ; which Bills he may lend their Majesties for 3 l. per cent . per annum Interest ; and be exempted from the Taxes of 4 s. in the Pound , and have an 160 l. per annum , who hath now but 80 l. per annum coming in . Or if he lend their Majesties the said 2000 l. Bills of Credit upon the Payment of an Annuity for 20 Years , he will have 150 l. per annum coming in for every 80 l. per annum he now hath : And one twentieth part of the said 2000 Bills of Credit being paid off every Year , his Estate will be clear in 20 Years . Or suppose the said Gentleman hath four Children , and hath now nothing to give them , he may give his Children the 2000 l. Bills of Credit among them , which is 500 l. apiece , for which he must give to the Commissioners , &c. but 10 l. per annum : So that his Children will have the present Value of his Estate divided among them , and he will have 90 l. per annum left for himself to live on . Or hath a Gentleman an Estate of 1000 l. per annum , upon which he owes 10000 l. he now pays , at 6 l. per cent . per annum , 600 l. per annum Interest-Money ; he pays for Taxes of 4 s. in the Pound 200 l. per annum , in all 800 l. per annum : so that reckoning nothing for Repairs , Militia-Rate , Trophy-Money , &c. he hath but 200 l. per annum coming in . If this Gentleman settles his Estate , he may have 20000 l. value in Bills of Credit thereupon , being twenty Years Purchase of his Estate : With this he may pay off his 10000 l. Mortgage ; the other 10000 l. he may lend their Majesties at 3 l. per cent . per annum , and he will have 1150 l. per annum coming in , as appears by the following Parallel . The Gentleman 's present Circumstances . Interest of 10000 l. — 600 per annum . Taxes of 4 s. in the Pound 200 Left for himself — 200   1000 His Circumstances by my proposed Method . His Estate brings him in 1000 l. He will receive for 1000● lent their Majesties 300   1300 per annum . He must pay the Commissioners , &c. for 10000 l. Bills of Credit , being what he makes use of for himself 50 l. Paid Taxes for ½ of his Estate 100 l. 150 Remains clear to the Gentleman 1150 l. per annum , and his 10000 l. Mortgage paid off . Or has the Gentleman a mind to clear his Estate upon the Payment of a small Annuity , he may have 10000 l. for 4 l. 10 s. per cent . per annum , for 25 Years ; or for 5 l. 10 s. per cent . per annum , for 20 Years , and never pay the Principal , who must now pay 6 l. per cent . per annum for the bare Interest only . And as to their Majesties , they may be supplied with 1200000 l. for 3 l. per cent . per annum , which is 36000 l. per annum , for which they now pay 100000 l. per annum , which would be 64000 l. per annum saved of what their Majesties now pay for 1200000 l. only . Or their Majesties might have had 1600000 l. upon the Payment of 140000 l. per annum , for sixteen Years , which is 600000 l. more than was raised on the Lottery-Act . In fine , their Majesties might have Money for paying 6 l. 10 s. per cent . per annum , for twenty five Years , who now pay above 8 l. per cent . per annum perpetual Interest . So that by this Means the Nation is not only served on much easier Terms , but Gentlemen will be eased from Taxes , will have their yearly Estates augmented , may clear their Estates from all Incumbrances , and may with Eafe raise Portions for their Children , and may very much improve their Estates . And I may add , that those who are now forc'd for the raising Money to cut down their Timber , long before it is come to its full Growth , being enabled to supply themselves with Money on such easy Terms , will not be under those pinching Necessities to do that which is so very detrimental not only to their own Estates , but to the Kingdom , by the destruction of young thriving Timber . I shall now briefly answer an Objection or two I have met with since my writing the said Treatise : but first I shall add somewhat further by way of an Answer to an Objection which I have already answered , viz. Object . That we shall have too many of these Bills of Credit . Answ . The Parliament , if they shall be pleased with the Modus of settling Estates , and issuing out Bills of Credit upon them by these Methods , may , if they think fit , limit the Settlements ; though I confess I am not of opinion there will be any need for their so doing , for the Money of this Nation is computed to be about eight , or at most ten Millions Sterling ▪ And a small Treatise lately publish'd by some of the Bank , intituled , Some Observations upon the Bank of England , tells us , page 9. That the Bank of Amsterdam hath had above 30 Millions Sterling at once , and no small Sums employed in the Lumbard : To which if we add all the Money in private Hands , we cannot well suppose that there is less , if so little as 50 Millions Sterling in Holland . The same Author tells us also in page 5. That about an hundred Years ago the King of Spain paid the Bank of Genoua more than twenty Millions of Crowns ( which is almost as much Money as we have in England ) for one Year's Interest . And page 10. he says , That Money may be had at Genoua for 2 l. per cent . per annum . Now if the King of Spain paid but 2 l. per cent . per annum for what he borrowed , the Bank must have lent him above two hundred and fifty Millions , which is as much as all the Land in England is worth at twenty Years Purchase . But suppose the King of Spain paid as much per cent . per annum for Interest of Money as their Majesties pay the Bank of England , he must have borrowed of them above sixty Millions Sterling . So that it is plain we are most miserably cramp'd in our Trade ; and the Gentlemen of England also , as well as the trading part of the Kingdom , are great Sufferers for want of Money : And why the Kingdom of England , which is as well situated for Trade as any place in the World , should have less Money to trade with than Holland or Genoua , I confess I cannot assign a Reason for . I am sure we have almost quite lost our Greenland-Fishery , our Russia-Trade , and several other Trades I could mention ; and we are in danger of losing the rest , because we are not able to manage our Trade with that Advantage as our Neighbours do , for want of sufficient Stock , and because our Merchants must pay three times the Interest for Money that others pay : and yet some Gentlemen are afraid of our having too much Money ; whereas I should be glad to see it once come to that : for we had better have Money to spare than to want it ; which if we had a greater Plenty of , our Fishery might be revived , and our almost-lost Trades regained : and the Parliament can check any Exuberancy or Superabundance of these proposed Bills whensoever they shall find them inconvenient to the Nation . Object . But you propose six Months time before an Estate can be settled , and Bills of Credit issued out thereupon ; so that these Proposals cannot be useful to supply their Majesties with Money timely enough this Year . Answ . If it be not timely enough for the Supply of their Majesties this Year to begin at the sitting down of the Parliament , how can it be time enough next Year , unless the Parliament pass it this Sessions ? And if it should not be of use this Year for the Publick , ( as I can demonstrate it may ) such of the Nobility , Gentry , and Free-holders , and the trading Part of the Nation , who are under any pinching Straits and Exigencies , may be relieved by passing it this Sessions . Object . But it is uncertain whether Gentlemen will settle their Estates , and advance the Bills of Credit to their Majesties , or no : and the Government must not be at this time under any Vncertainties . Answ . What Certainty had the Parliament that the Subjects would advance their Money on any of the late Funds upon Survivorship , or upon the Lottery-Act , or Bank of England ? there was only a Probability , that Men who had Money would accept of such advantageous Offers ; and there is much more Reason to believe that Gentlemen will settle their Estates on these proposed Advantages . Object . But where must a Man go for his Money that hath any of these Bills of Credit ? Answ . To what use is Money but to pass and repass in Payment , or else to melt it down into Ingots ? For the first , these Bills will be as passable as Money , and are in truth better than Money , conveying an intrinsick Value along with them , which Money does not ; and for that Reason our Money is as unfit for the latter Use , viz. to be melted down . The Bank of England do not propose to keep Money by them to answer all their Bills ; if they did , to what use would the Bank be ? but only so much as is needful , to answer the Demands of such whose Occasions require Money in specie ; and for such Persons the proposed Commissioners will have always Money to answer such Demands : For suppose their Majesties borrow two Millions for 7 l. 10 s. per Cent. per Annum Annuity , for 20 Years , in lieu of Principal and Interest ; if the Parliament direct that the Annuity shall be paid in Money , there will be 150000 l. per Annum , coming in to answer all such Demands . Object . But what must those Gentlemen do who are but Tenants for Life ? they cannot reap any Advantage by this Act. Answ . Yes , they may ; for the Parliament if they please may give them leave to settle such their Estates for Bills of Credit , to be issued out to their Majesties upon the Paiment of an Annuity for 20 Years , and not longer ; in which case the Tenant for Life may be excused from the Land-Tax of 4 s. in the Pound , which will be Advantage enough for him ; and the Commissioners may keep in their Hands the Profits accruing by the Loan of such Bills of Credit for the Benefit of him who hath the Fee or Remainder , by which means his Estate will be encreasing every Year more and more , till he comes into the Possession of it . For admit A be Tenant for Life of an Estate of 1000 l. per Annum , the Remainder to B : Suppose A settles the said Estate , and 20000 l. Bills of Credit are issued out thereupon , and lent their Majesties upon the Paiment of 7 l. 10 s. per Cent. per Annum , out of any Parliamentary Fund for 20 Years ; A shall be exempted from Taxes , which is 200 l. per Annum saved to him : The Commissioners who are to receive 1500 l. per Annum Annuity for 20 Years , for the said 20000 l. Bills of Credit , will pay off every Year 1000 l. per Annum in Discharge of the Principal , and the other 500 l. per Annum they may reserve in their Hands for B ; so that if A lives 20 Years , B will have 10000 l. due to him from the Commissioners , which is half the Value of his Estate , and his Estate clear : and tho some may think it unreasonable , that a Tenant for Life should settle the Estate of him who hath the Fee , yet for the Advantage and Benefit of such Person who hath the Remainder , the Parliament may as well give leave to settle such Estates , as they did empower Trustees and Guardians to advance the Money of such whose Estates they had in Trust upon the late Funds , for Benefit of such Minors , &c. And if the Parliament think fit , Gentlemen who have Estates in Land , may easily , and that in a few Years , raise a Bank without any Money , other than by their accruing Profits out of the said Annuities , which Bank will have both plenty of Money , and the Freehold Estates of the Kingdom for a Fund ; which will be the greatest , most famous , and most glorious Bank that is or ever was in the whole World : nor will any Nation in the Universe be ever able to cope with us , or be capable to erect the like . I think it not amiss also to acquaint the Parliament with a Method I showed to an Honourable Member of the Honourable House of Commons , about six Months ago , which I laid aside , as not being near so desirable as this my propos'd Method ; which because some Persons seem'd then to have an Opinion of , I shall also acquaint this Honourable House with the same , viz. I propos'd that a Gentleman of 150 l. per annum Estate in Land , supposed to be worth 3000 l. might settle his Estate , and that 3000 l. Value in Bills of Credit should be issued out thereupon ; that their Majesties should have 1000 l. Value of the said Bills , and that the Person who settled his Estate should have 2000 l. Bills ; and for the discharging the 3000 l. Bills of Credit he should be obliged to pay 100 l. per annum for 30 Years . This indeed would have cleared all mortgaged Estates ; the Bills of Credit issued out would not have exceeded the Fund settled for Security of them ; and a Gentleman would have sold a Rent-charge of 100 l. per annum for 30 Years , for as much as he can sell the Fee of 100 l. per annum . Several other Advantages I proposed by the said Method ; but all things considered , I found it so far short of what Advantages their Majesties and the Nation might reap by the present proposed Method , that I totally declined it . I fear being too tedious , and to transgress the Limits of an Abstract : But such of the Members of the Lords or Commons who will honour my Treatise with their Perusal , wherein what I have herein barely hinted at is more fully handled , shall be presented with the same by , Their Honours most humble , and most obedient Servant , JOHN BRISCOE . 
A27256	----	To the Honourable the Commons of England assembled in Parliament proposals humbly offered to raise five hundred thousand pounds per annum, to make good the adulterated and defaced coin of this kingdom without hurting the subject, by drawing it from all parts of the kingdom, dominion of Wales, &c. ... Beeckman, Daniel. 1695 Approx. 33 KB of XML-encoded text transcribed from 9 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2007-01 (EEBO-TCP Phase 1). A27256 Wing B1688 ESTC R19599 12399707 ocm 12399707 61243 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A27256) Transcribed from: (Early English Books Online ; image set 61243) Images scanned from microfilm: (Early English books, 1641-1700 ; 270:6) To the Honourable the Commons of England assembled in Parliament proposals humbly offered to raise five hundred thousand pounds per annum, to make good the adulterated and defaced coin of this kingdom without hurting the subject, by drawing it from all parts of the kingdom, dominion of Wales, &c. ... Beeckman, Daniel. 16 p. s.n., [London? : 1695?] Caption title. Signed: Daniel Beeckman. Place and date of publication from NUC pre-1956. Reproduction of original in University of Chicago Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Finance -- Great Britain. 2006-04 TCP Assigned for keying and markup 2006-04 Aptara Keyed and coded from ProQuest page images 2006-06 Mona Logarbo Sampled and proofread 2006-06 Mona Logarbo Text and markup reviewed and edited 2006-09 pfs Batch review (QC) and XML conversion To the HONOURABLE the Commons of England Assembled in Parliament . PROPOSALS Humbly Offered to Raise Five Hundred Thousand Pounds per Annum , to make Good the Adulterated and Defaced COIN of this Kingdom , without hurting the Subject ; by drawing it from all parts of the Kingdom , Dominion of Wales , &c. which will not only be a great Conveniency to all manner of Traders , Gentlemen , and others , but also mightily Propagate and Increase Dealings of all kinds . This , I humbly conceive , may be done , without great Difficulty , by taking the Methods following : And I hope to Answer , rationally , all the Objections which may be Offered against it . The Proposals take as follow : ( Viz. ) WERE there Four Grand Chambers of Accompts Erected in London , ( being the Metropolitan City of the Kingdom ) to answer all Counties in England , Wales , &c. and those nominated the Principal or Grand Chambers of each County , or Division ; and let them have power to fix a Petty Chamber in every Post-Town , or Town of Trade , throughout the Kingdom , &c. Providing for every Principal , or Grand Chamber , a Different Stamp , with Numbers , to be kept with every Petty Chamber , so fixed as aforesaid : And let all Gentlemen , Carriers , Chapmen , and Hagglers , be strictly Prohibited from Travelling with any Sum or Sums of Money ( more than to Defray their Travelling Charges : ) But so often as occasion offers , let each , and every Person , pay such greater Sums of Money into any of the Chambers , from whence it may be Remitted to any place , as desired , with as great Expedition as the General Post can reach it : The party having his Money so Remitted , paying for the same Three Pence per Pound , or something more or less , according to the distance of place from whence it shall be so Remitted . Secondly , IT is supposed ( by common Computation ) there are Six Millions of people in the Kingdom of England , Dominion of Wales , &c. ( which if so ) they cannot subsist , one with another , for less Charge , in Meat , Drink , and Apparel , than Seven Pounds per Annum each person , which amounts to Forty Two Millions Yearly expended in the way of Trade and Commerce , which at Three Pence per Pound , Annually paid for such Returns , or Transmittances of Money , as aforesaid , amounts to the Sum of Five Hundred Twenty Five Thousand Pounds per Annum , besides the large Sums that are expended in a Year for Houshold Goods , Plate , Jewels , &c. Thirdly , SUPPOSE a Merchant , or any other Trader , or Dealer , sells his Goods , Cattle , or Wares , in any part of the Kingdom , &c. receiving his Moneys for the same , being the Sum of a Thousand Pounds , more or less , he or they paying such Sum or Sums into the Chamber next adjoyning , may have it remitted to any part , without running any Hazard , paying into the said Chamber for the same , the Rate of Three Pence per Pound , more or less , according to the distance of place from the said Chamber ; and upon payment of his Monies into the said Chamber , he shall receive a Bill of Return indented ; the Office or Chamber filing another of the same Date ; and a third so agreeing with the two former , shall be sent to the place where he intends to receive his Moneys , with advice to pay the same to the said party , or his order , upon sight of the parties Bill so mentioned , making such payment in good Currant Coin of England ; and upon payment thereof , to give his Receipt , indorsed upon the said Bill , for so much Moneys , as the said Bill expresses to be due ; by which means every Petty Chamber may be able to adjust his Accompts with the Grand Chambers of London , as often as they shall be required to do the same . Fourthly , AS to the Furnishing the said Chambers with Cash sufficient to answer such Ends , I presume the Moneys Collected for the King's Tax ; The Excise , and other Moneys already Charged , and to be Charged , by Act of Parliament , with Moneys payable for all manner of Goods or Commodities through the Kingdom in parts remote , being paid into the said Chambers , in each Town or County , as aforesaid , in order to be Remitted to other parts of the Kingdom ; may ( as I humbly conceive ) answer the ENDS Proposed with all Objections that shall be made against it . Fifthly , WHEREAS it is thought the Mint cannot Coin above Twenty Thousand pounds per Week , there will be some Years before the Cash of the Kingdom , &c. can be Re-Coined : NOW I conceive , that Forty Thousand pounds will be sufficient Fund to begin this Vndertaking ; each Chamber in London , signifying to their several petty Chambers throughout the Kingdom , &c. to send up to London all the Large Moneys they can pick out of their Cash , in order to have it Exchanged , at the Mint , for MIL'D MONEY : So that the Mint may by kept in Full Employ of Coining ; and New Money from time to time shall be Transmitted back , or otherwise paid to the Proprietors , ( of the Old ) where they shall desire it ; which will make the first Years Coinage to sustain no great Loss ; The second Year not much more , and the Third not much greater than the precedent : So that the Profits in the Stock of this Bank will not much lesson the first year ; possibly something more the second , and not much more the third : From whence I Conclude , There may be a sufficient Fund to Answer the Loss of all the abused Cash ; which I take to be little less than Two Millions . Sixthly , FROM all which , I humbly conceive , That by this Method ( in a reasonable time ) the Cash of this Kingdom may be wholly Re-Coined , Trade , and Commerce highly advanced ; Gentlemens Estates much improved , besides the Conveniency of having their Rents safely and quickly Transmitted them , to any part of the Kingdom remote ; the great loss of many by High-Way-Men totally prevented ; the Post-Office much advanced ( and many more accrewing Benefits and Advantages to the Government , and Subject , produced ) than can , at present , be seen into , and too large here to Enumerate : And supposing the Mint shall be able to Coin Forty thousand pounds per Diem , Care may be taken to supply the Mint with old moneys , or Bullion ( that if possibly so much can be Coined in the time ) all may be Compleated in a Year , or two , at the furthest ; from the time , Offices or Chambers of Accompts , shall be so fixed as aforesaid . NOW rationally to prove the same in every part , and to make the whole Matter more plain and easy to be Understood , ( by the meanest Capacities of all Traders , and Dealers of what kind soever , who will be Accomodated in such manner , as is before proposed ) I shall endeavour to demonstrate how the same may be done with ease , as may be observed by the Methods following , viz. 1 st . SUPPOSE the Four Grand-Chambers so Erected in London , be substituted for Four Divisions , viz. East , West , North , and South ; and so Dividing the Post and Market-Towns into four Divisions , throughout the Kingdom of England and Wales &c. placing Clerks in each Chamber of London , Distinctly for each County ; each County having a Different Seal , and the Clerks of the Post , and Market-Towns of the same County , having like Seals with the Clerks of the same County in the Grand Chambers of London , to be kept by them , with Numbers in their Books , of All Returns , from Place to Place , with the Indentures . I suppose it may make it easy to be Adjusted on all sides : And the Directors of the Grand-Chambers in London , may , with ease , Inspect All the Returns which shall be made by the Country Chambers . 2 dly . I Presume no Person Questions the Numbers of Souls supposed to be in England , Wales , &c. but rather that they may be more , taking Infants to be included in the same : All which , help in the Consumption of Goods , that shall be bought and sold , and Transferred from place to place , throughout the Kingdom . 3 dly , and 4 dly . ALL Dealers in any Town , Carriers , Haglers , &c. are to be Prohibited Travelling the Road , * with Money more than will defray their Travelling Charges , as I intimated in my first Paragraph , except such petty Chapmen , who shall Travel the Country thirty or forty Miles , round , in order to buy up Goods , as Wooll , &c. buying two or Three Todd in one place , and three or four in another , where they can meet with them : For it is not to be imagined , such Chapmen as these shall have their Moneys remitted , by reason of the great uncertainty in what place they shall buy their Goods : But my meaning is , That such Persons , who bring their Goods to a Certain Town or Market , selling them for considerable Sums ; and such Persons , who shall carry their moneys to a Market or Fair to Buy with . ( As for Example ) A Person living at Exeter , or any other place , hearing of a parcel of Wooll to be sold at Northampton , or any other place Cross the Country , though far remote ; The said Party , paying the moneys , he intends to lay out , into the Chamber of the Town aforesaid , the Clerk of that Chamber , sending up the Advice-Indenture , to the proper Clark of the said County , He shall Remit the moneys to the Chamber of the said Town , with as much Expedition , as the Post can make : And in like manner , may all Gentlemens Rents , or moneys for Portions , and Purchases be Transmitted throughout the Kingdom . AND what shall be wanting in the Country Chambers , let care be taken by the Chief Chambers in London to send down , with all imaginable speed , and so having a due Correspondence each with the other , they may easily perceive what stock each , and every Chamber in the Country hath by them ; so that by returning New Monies for Old , † they may keep an exact Ballance on all occasions , in all places , and at all times throughout the Kingdom , during the time our Old Money shall be Re-Coining , or longer , if it shall be so approved on , and thought requisite , by which means each Town may have a Bank of money by them , which , ( as I conceive ) will be no small Increase of Riches throughout the Kingdom , causing all Manufactories to flourish much more than hitherto they have done , the failure of which is thought to be for want of monies among them , which has occasioned many Country People to try their Fortunes in London , where money is more plenty , which hath much depopulated the Country , thereby damnifying very much both Gentlemens Estates , and done great injury to all manufacturies . FURTHER , There are several Principal Towns and places of Trade , as Exeter , Norwich , Colchester , Hull , Leeds , &c. wherein the Goods are bought by the Inhabitants of the said places , and there vended , which monies , with the Kings Revenues , being paid into the Bank of the said places , must inevitably be equivolent to the manufuctures made in the said Towns , and vended else-where : For suppose each of those do vend and make great quantities of Woollen manufacturies , being the Staple Commodities of the Kingdom , the more they make the better , being the greater number of People must be imployed therein : And we find by experience , That by the Wisdom and Providence of God , Noblemen , Gentlemen , Shopkeepers , Merchants , &c. are so promiscuously inter mixed in Towns and Villages among Handicrafts , being subservient one to another , as different members of one and the same body ; and supposing there are Twenty or Thirty Thousand Souls in each Town or place : These must all be Fed and Cloathed , with all things according to their several Ranks and Qualities , and , by consequence , must Trade in Linnen , Woollen , Silk , &c , and in all Grocery Wares , Wine , Oyl , Tobacco , Iron , Lead , Tin , Copper , Glass , &c. and in all sorts of Grain , Cattle , Fruits , Dyes , and Druggs , without which , no place can well subsist . Now let the Traders of the said Towns , and Villages nigh adjacent , pay into the Banks of the said places , all the monies they shall receive for the Goods vended by them : The prime cost of all such Goods consumed , together with the Money Collected for Excise , the Land Tax and Customs being paid into the next Chamber , or Bank , in or nigh the place , must make a sufficient Fund of Monies in all the Banks of each County , Town , or City , to answer all Goods and Manufactories that shall come out of the Countries , being the prime Cost of materials are allowed for : But if any Merchant or Dealer suppose the Manufactures made in the Countries , and sent abroad , are of greater value than the prime Cost of Goods , that are bought and consumed in the Countrys ; I beg to know how it happens , That such Town or Country has not gain'd the greatest part of the Kingdoms Wealth ; which , if any person satisfies me in , I shall look upon all my pains , and serious thoughts , about this Project , to be vain imaginations , and shall desist further to urge it . AND further , I conceive it will be the interest of all Country Gentlemen and Traders , to lodge what Moneys they can spare from their immediate occasions in such Chambers of Strength and Security , so set apart by the Chief Burghers of each Town , where it may remain , in order to have it Exchanged in its turn for New , with their security for the same , to be forth coming upon demand : And so soon as the KING's Money shall be paid into any of the said Chambers in the Country , * it may be drawn off here from the Chief Chambers in London , at the pleasure of the Lords of the Treasury . I have been the more prolix , in order to explain , and rationally to prove my Propositions laid down in the Third and Fourth Paragraph , which I hope will be rightly understood . 5thly . WHEREAS , at the Common rate of Coinage , it may be some Years before All the abused Cash of the Kingdom may be Re-Coined ; It makes me suppose , that Forty thousand pounds will be a sufficient Fund to carry on this Work : But if this Honourable House thinks fit to have it done with more speed , it will be a sufficient Fund ( for a Credit ) to carry on the Work more expeditiously ; which I humbly conceive , will be more for the Interest of the Kingdom , being the longer it shall be Re-Coining , the more it will be Clipt and Adulterated . 6thly . I humbly conceive it may be highly improved , in like manner as the Post-Office has been since the first Establishment thereof , which will conduce much to the good of Trade , both in City and Country : For if A. B. or . C. suffer for not having Returns of Money , according to expectation or desire , certainly the greater part of the Alphabet must sensibly Feel it one way or other : But this Method being taken , It must , by consequence , lessen the Interest of money , highly advance Lands , increase in incom of the General Post-Office , † and preserve many Mens Lives , who frequently Suffer by the Hands of Justice , having so many opportunities of Clipping , and Committing Robberies ; which has much lessoned the Number of People in this Kingdom , who might have been useful to the Government , and more especially during this time of War. Lastly , This I humbly conceive ( if approved on by His Majesty , and the Honourable Houses of Parliament ) may be worth Five hundred thousand pounds , per Annum . or more , without hurting the Subject ( as I have set forth in the Preamble ) paying no more for their Returns of Money , than they commonly now do upon occasion of such Returns by Carriers , or otherwise . Therefore , the Terms in my Propositions being so easy ( and the Service of so great value ) I hope no Man can rationally Grudge , at , ( obtaining so great a Benefit by it , * in ) having their Moneys made full Weight , and Currant , without any scruple , &c. AND seeing the Bank of England has been Approved of by the Nation in general , I would not propose the Setting up of these Chambers in every City or Market Town , could I imagine it any way prejudicial to so worthy an Undertaking : But these being only intended for making Good the Adulterated and Abused Coin of the Kingdom , by observing such Methods as I have before laid down ; I cannot perceive wherein they can any way Prejudice that Great Bank. † And this being Proposed for the Publick Good , I hope it will not be Postpon'd , but rather meet with that Encouragement from the Government , as may render it Useful for the Matter intended ; which will not only be a Great Benefit , but also a Great Honour to the Kingdom , in having it's Coin such as may be Taken without Exceptions , These are my present Thoughts about the Matter , which I hope may be Candidly Received , to my Encouragement , for the Great Pains I have taken about it ; which , if it so happen , I shall PROPOSE another Method for Raising Ten Hundred Thousand Pounds worth of Bullion , which shall be Affected in as little time , as the Chambers can be fixed : * So that the WORK may be carried on with Ease and Expedition . And I hope the Objections that may be raised against my Proposals , are so Rationally Answered , as with Ease to be vnderstood ; relating to the Re-Coining of the Cash ; the Advance of Trade ; the Improvement of Estates ; the safe and quick Transmittances of Rents ; and the Benefit accrewing to the Post-Office , &c. ( In which , if I am mistaken ) I humbly submit to the Great Wisdom of this Honourable House , to Pardon me herein ; and to Accept of my Sincere , though weak Endeavours ( for the Publick Good ) and beg leave to Subscribe Your HONOVRS most Humble and most Submissive Servant , Daniel Beeckman . England , including Wales , divided into Four equal parts , ( viz. ) Northern , Midland , Southern , and Western . THE NORTHERN to be Northumberland , Bish . of Durham , Cumberland , Westmoreland , Lancashire , Lincolnshire , Yorkshire , Nottinghamshire , Derbyshire , and Staffordshire . THE MIDLAND to be , Worcestershire , Warwickshire , Leicestershire , Rutlandshire , Northamptonshire , Oxfordshire , Buckinghamshire , Bedfordshire , Middlesex , Huntingtonshire , Cambridgeshire , Hartfordshire , Norfolk , Suffolk , and Essex . THE SOUTHERN to be Kent , Surrey , Sussex , Southamptonshire , including the Isle of Weight , Guernsey and Jersey , Wiltshire , Barkshire , Dorsetshire , Sommersetshire , Devonshire , and Cornwal . THE WESTERN to be Wales , Monmouthshire , Herefordshire , Gloucestershire , Shropshire , and Cheshire . December the 12th . 1695. DEbtor , intrusted to my Care , A. B. Clerk of the Chamber of Exon. 1000 I. by C. D. Clothier of the same Town , to be paid in London , on sight of the Party's Bill , matching with the Advice-Indenture sent you . December the 12th . 1695. REceived then of C. D. of Exon. Clothier , the Sum of 1000. l. with Poundage for the Return , made payable by you E. F. Clerk of the said County , in London , drawn by me , Debter to you for the same ; as Witness my Hand and Seal , the day and year first above-written , A. B. Nam Yna ot Gnorw on od . THis Advice-Indenture , sheweth the Check of a Bill drawn by me A. B. December the 12 th . 1695. for 1000. l. to be paid by you E. F. agreeing with Number and Check , and place your self Creditor to me for the same . Do no Wrong to any Man. The WORD , &c. 1. IN the main Design of my Proposals no difficulties attend them , for it will be a great Ease to persons Travelling the Road , to forbear carrying Sums of Money along with them , when they may carry a Bill , which will procure them what Sums they desire to receive in any part of the Kingdom . 2. AND if this Honourable House will be pleased to Prohibit the Exportation of all manner of Bullion , and set a price thereon , putting a stop to its further rise , during the time of Coinage , the work may begin , and Five Shillings worth of Silver may be put in a Crown-piece ; and so proportionable in lesser pieces , allowing only for Coinage as is usual . By which means will be made plain Two Misteries . First , THE reason why Gold and Silver have risen so high . Secondly , THE cause of Bullion being so scarce . AS to the First : All Goldsmiths and Refiners will be Obliged thereby , to send their Silver Bullion to the Mint , in order to have it Coined , as of late they have done their Gold , which should they not do , it will not be worth their time to give the full rate so set , as those Chambers of Accompts may for the Nations Benefit . AS to the Second : If the said Goldsmiths and Refiners shall omit sending their Bullion to the Mint , as aforesaid , then it will plainly appear , they send to Foreign Parts to buy up Gold , thereby to make an extraordinary Profit , which may in some time much lessen the Stock and Wealth of the Kingdom , being the Bullion , or Coin in silver , so exported , exceeds the worth of Gold imported ; which I take to be the cause why Guineas have risen to so great a Value , and the reason of such scarcity of silver . BVT Persons may Object , should the Exportation of Bullion be Prohiited , how shall the Army abroad be paid , during the present War , being be soldiers must have silver either in Bullion or Coin , without which they ●annot subsist . Ans . With all humble submission to this Honourable House : I conceive the Kingdom of England , Dominion of Wales , &c. are blessed with as many useful and staple Commodities , as are in any parts of the world , ( viz. ) Wool , Lead , Tin , Leather , Shoes , Boots , Stockings , and many more , too large to enumerate : And being neither Bullion nor Coin can be eat , drank , or wore , why should these Commodities he sent abroad ? I presume , the Army may be maintained with considerable Advantage to the Nation , if duely weighed and inspected into , increasing a great Trade , and benefit to our Handicrafts of all sorts , and thereby keeping them in full employ , which would lessen the price of all such goods in general . AND should so many Goods be bought up as would amount to the Sum fixed on by this Honourable House , for the maintenance of the Army abroad , they may procure a Credit in Holland , or Flanders , or in any City , or great Town in those parts , where such Goods shall be consumed , being bought here at much easier rates , than they can be afforded at in those parts . FOR I find by Bills of Entry in the Custom-House , That great Quantities of such Goods are sent to Holland , and other parts adjoyning , which must either by consumed in those places , to which they are consign'd , or else they are sent from thence to other parts remote . THEREFORE , should Factors be employed in England , Scotland , Ireland , &c. to Buy up such Goods : And likewise Factors placed in Holland , Flanders , &c. to whom they should be consign'd for the KING's use , they may be sold with advantage , to raise Moneys sufficient to pay the Army in those parts . AND should not the said Factors be able to vend so many , as to supply the KING's occasions in paying his Army , yet the said Goods may be a sufficient Fund to borrow Monies on , either from the States of Holland , or from the Burghers of Cities or great Towns in those parts , at Three Pounds per Cent. which Monies so borrowed may be re-paid as often as such Goods shall be vended . NOW supposing the Kingdom pays but Eight Pounds per Cent. in the return of Coin , by this means Five Pounds per Cent. will be saved to the Nation , should such Goods be sold only for the prime Cost , which will cause a great Consumption of our Commodities , and keep our Coin and Bullion at Home ; and it may highly discourage the common Enemy , when it shall appear we make an Advantage in Trade by the War , in vending our Commodities , and preventing the Exportation of our Coin and Bullion . AND when the Re-Coining of the Monies shall be compleated , Bullion may be permitted to rise and fall , as at other times , not exceeding the Money Coined , by which means it will prevent the melting down of Cash by Work-men , and the Exporting it into other Nations ; which will lower the Interest of Monies more effectually , than any Bank whatsoever can do . NOW my Proposals being no further intended than for the Service and Benefit of the Kingdom in general , by a Method of raising 500000 l. per Annum , without laying a Tax upon the Subject , and procuring them ready Monies to be paid upon all occasions in any part of the Kingdom : As also the saving of Monies in returning the KING's Tax ; and by how much ready Money in all Payments will be better and fairer in Dealings , I humbly submit the consideration thereof to the great Wisdom of this Honourable House , who may Order the KING's Money to be paid in such Methods as before Proposed , which ( as I humbly conceive ) may Answer such Good Ends. These Proposals I intended to have presented to the last Session of Parliament , but could not compleat them before the Prorogation . FINIS . Notes, typically marginal, from the original text Notes for div A27256-e10 Imprimis . * For if any person shall adventure to Travel with Sums , of Mony , after having such Conveniencies provided for their so Safe and Easy ways of Remittances ; I Judge the Countryought not to be Liable to make good their Mome●●s Lost by Robberies after such Bold and Daring adventures . † My meaning is , that all the Cash in General shall be Exchanged for New , excepting such as shall appear to be Brass or Copper , being the Profits arising from the Chambers will hear it , for should it be otherwise Managed , it may prove a Fatal consequence , in almost Starving ( if not entirely Undoing ) a great Number of Poor Families throughout the Kingdom ; and it may prove a cause of great Desorders , the greatest part of the Coin now going abroad , is so generally Bad. * Which will occasion the Paying in of the Kings Revenues into the Exchequer with more Expedition by the Sub-Collectors , being the first Charge laid upon the Moneys given His Majesty , which will save the Government 100000 l. per Annum . so much more being now paid for Collection ; going through so many Hands . † I presume by modest Computation , it will add a Third part more to the Incomes of the same . * For I clearly conceive , both City and Country will Improve and Encourage such an Establishment , as shall make Moneys Circulate upon all Occasions to their great advantage . † This will be a certain Fund for Credit , and not a Bank of Credit , as the Bank of England is ; from which I humbly conceive it will in no wife disoblige those Gentlemen concerned in that Bank already Established : For I really Imagine ( that should not this Honourable House approve of my Proposals herein ) yet my Labour will not be lost in furthering the Advantages of that so well Methodiz'd Bank. * Which Bullion may be Converted into Coin for His Majesty's present Occasion , and the Profits arising by those Chambers may be sufficient to carry on the Work of Re-Coyning the Abused Cash of the Kingdom . Notes for div A27256-e3890 Numb . ( 1. ) Check Do no wrong to any Man. Numb . ( 1. ) Numb . ( 1. ) 
A28305	----	An essay towards carrying on the present war against France and other publick occasions as also for paying off all debts contracted in the same, or otherwise : and new-coyning of all our moneys, without charge to the great encrease of the honour, strength and wealth of the nation : humbly propos'd, for the Parliament's consideration and submitted to their great wisdom and love to their country, etc. / by John Blackwell ... Blackwell, John, fl. 1695. 1695 Approx. 40 KB of XML-encoded text transcribed from 17 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2007-01 (EEBO-TCP Phase 1). A28305 Wing B3093 ESTC R17371 13160934 ocm 13160934 98180 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A28305) Transcribed from: (Early English Books Online ; image set 98180) Images scanned from microfilm: (Early English books, 1641-1700 ; 446:15) An essay towards carrying on the present war against France and other publick occasions as also for paying off all debts contracted in the same, or otherwise : and new-coyning of all our moneys, without charge to the great encrease of the honour, strength and wealth of the nation : humbly propos'd, for the Parliament's consideration and submitted to their great wisdom and love to their country, etc. / by John Blackwell ... Blackwell, John, fl. 1695. [2], 30 p. Printed for the author, London : 1695. Reproduction of original in Huntington Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. 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Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Currency question -- England -- Early works to 1800. Finance -- England -- History -- Early works to 1800. 2006-04 TCP Assigned for keying and markup 2006-05 Apex CoVantage Keyed and coded from ProQuest page images 2006-06 Derek Lee Sampled and proofread 2006-06 Derek Lee Text and markup reviewed and edited 2006-09 pfs Batch review (QC) and XML conversion AN ESSAY Towards Carrying on the Present WAR AGAINST FRANCE And Other Publick Occasions . AS ALSO , For Paying off all DEBTS Contracted in the same , or otherwise . AND New-Coyning of all Our Moneys , Without Charge , To the great Encrease of the Honour , Strength , and Wealth of the Nation . Humbly Propos'd , For the Parliament's Consideration , and Submitted to their Great Wisdom , and Love to their Country , &c. By JOHN BLACKWELL , &c. London , Printed for the Author , 1695. AN ESSAY Towards Carrying on the Present War against France , and other publick Occasions , &c. Sect. 1. ABOUT Three Years since , I humbly Proposed ( amongst other things ) the New Coining of all our Silver Moneys : And gave these Reasons for it , viz. 1. They were generally so Bad , as to be Refused abroad ; and so , were unserviceable in other Countries . 2. The suffering them to Pass , gave advantage to the Further clipping them : as is manifest in our Sad Experience ; for , they are now much worse ; And so unserviceable at home . 3. It was Reproachful to us , That it should be Suffered to Pass ; And therefore worthy Consideration and Inquiry into the causes of it . 4 : It was no otherwise to be Prevented or Reformed , than by New coyning all ; and then , Prohibiting the Passing of any Clip'd Money , from and after a certain day to be Limited ; under the Penalty of Seizure and Sequestration ; in whose hands soever the same should afterwards be found . Sect. II. Since which ( and as the natural consequence thereof ) the Value of our Gold-Coyn hath been enhansed , to about half as much more as the same was Coyned at . The inconveniences and damages whereof to the Nation and Trade thereof , are , and will be at least as great , as the clipping of the Silver : And , if not timely Prevented , will utterly Ruine us in Our Trade : And the longer this is Suffer'd , the Firmer will the disadvantages be Fix'd ; till the Root of all our Commerce becomes Worm eaten , and canker'd ; and we Lose the Sweet Fruit thereof for ever . Sect. III. In short , the whole Nation is almost destitute of Moneys : Not only , For the carrying on the War ( in , or by any Ordinary course of procedure ) but , For Our home Markets : And , Taken off from trade abroad , As , by means hereof , So , Partly by their Losses at Sea ; partly , By the More-advantageous Proposals for Lending or Laying out their Moneys , on the Lotteries , and Other Ways and Means found out , and pitch'd upon , by the Late Parliament , For carrying on the War : And lastly , By the high Exchange of Moneys abroad , for Commodities imported hither ; and paying our Forces there , who must otherwise have had more of our Moneys sent hence to our further streightening . Is there any Remedy ? viz. Q. First , How shall the Silver be New coyned ; so , as to Become a due Measure and Standard for Traffick ? Q. Secondly , How shall our Gold be Reduced to it s Coyn'd value ? Q. Thirdly , How shall the War be carried on thereby ? Q. Fourthly , How shall the Trade be Recover'd , so as to preserve our Coyns , and Augment Bullion ? To the First , viz. How shall the Silver be New-Coyned ? &c. Sect. IV. I Humbly Proposed , That all the Clip'd Moneys might be called in , by a certain day to be limited : That the value in weight might be deliver'd out again New-coyn'd : And , That the Damage accrewing , as well to the Publick as the Private persons concern'd , by the New-coinage thereof , might be made good to Both , by issuing so many Bills of Credit , made Current By Act of Parliament , as would Countervale the same ; so , as there should be no Lessening of the Nation 's Stock ; and would cost nothing . And , to facilitate this : That All unnecessary Silver-plate ( especially in Taverns , Inns , Alehouses , and Victualling-houses ) might be Prohibited , called in , Coyned and delivered out , immediately , to such as should bring in the same , at 5 s. 3 d. per ounce , deducting the Coynage . To the Second , viz. How shall the Gold be Reduced to it s Coyn'd value ? Sect. V. I Humbly Propose : That all Coyned-Gold may be likewise called in , by a certain day : And Each piece Punch'd , and deliver'd back again to the owner ; thenceforth to pass but at 20 s. each Guinney , &c. And that Like Bills of Credit may be also delivered to the parties concern'd , for 10 s. more , upon each Guinney ▪ and so proportionably for other Pieces of Gold , &c. And thus , both Silver and Gold become Reduced to their Coyn'd values , without Prejudice , Loss , or Damage , either to the Parties concern'd , or to the Publick Stock of the Nation : No body is injured , but all greatly obliged , in thankfulness and loyalty to the King , for Recommending the care thereof ; and to the Parliament for their Enacting the same . For , thus , Our home-Markets and Manufactures will be supplied , and carried on , in future , to General Satisfaction . And , for preventing , as much as may be , this additional Charge upon Guinneys , I humble propose , care may be taken , That from henceforth no Guinneys may be Coyned , till this Work be over ; and , afterwards , only such as shall be distinguished from those already Coyned , by some special mark in the Stamp thereof , to be passed at 20 s. and no more . Which is , also , the Reason of Propounding , All Guinneys already coyned may be Punch'd viz. That they may not be twice allowed for . To the Third , viz. How shall the War be Carried on thereby ? Sect. VI. I formerly Proposed : 1st , That whatsoever Taxes or Assessments should be thought fit and necessary to be Raised or Levy'd , for carrying on the present War , and other publick charges of the Nation , whether By or Upon Lands , Tenements or Hereditaments , Poll-moneys , or Personal Estates , might be paid by the Parties so Assessed , Quarterly ( as had been done before ) in ready Moneys , or Silver-plate at 5 s. 3 d. per ounce . This , I argued to be necessary , upon several accounts , ( 1 ) To assist and facilitate the Coynage proposed . And ( 2 ) for Pay of our Forces abroad ; tho' possibly not needful to be all sent over in specie , but , partly Remitted by Bills of Exchange charged by Merchants , &c. and partly supplied by the Products , Manufactures and Provisions that may be sent from England , Scotland , and Ireland . [ By which I mean , Not only of such things as are needful for the Soldiers , or them only , but of others to be transported to Our Confederate Countries , at Merchantable Rates , instead of moneys : Out of the Proceed whereof , the Soldiers may be paid in the Respective Moneys or Coyns of such Countries . ] Which would be a meanr to keep much of Our Moneys amongst us , And Afford Employment to Our own Manufacturers at home , in this dead time of trade ; And keep them in peace . Sect. VII . 2dly , I also Proposed , That every person so Assesled , who should voluntarily advance and pay in One full years tax , at One Entire payment , To the Parish or County-Collector , or Receiver , within One month after demand made of the first quarterly payment ; might , in lieu thereof , Have Like Bill or Bills of Credit deliver'd him , for the Re-imbursement of his said full Sum paid : And so , Be out Nothing . And , Sect. VIII . That , in case the Party taxed should not comply therewith , if any other Person should ( within One Month after That ) Pay in the said whole years tax ; and should declare his willingness to Accept his Repayment thereof Quarterly , from such tax'd-party's-Self , or from the said Collector or Receiver , when it shall grow due , or be Receiver , when it shall grow due , or be Received , He might , in like manner , Receive also Half the Value thereof in Like Bills of Credit , for his incouragement so to do . Sect. IX . 3. That the like Method Rules and Advantages might be allowed , in case the Parliament shall Annually Repeat and pass Acts for that purpose , during the continuance of the War , and for carrying on thereof . And not otherwise . Sect. X. 4. That , in case the Sums appointed to be Assessed , Taxed and Levyed , &c. shall not amount to the Respective Values or Sums , at which they shall be declared , by the Parliament , to be Computed or Estimated [ as for Example , if 4s . per Pound ( or what ever other Proportion ) chargeable on Lands , shall be so computed and granted to His Majesty , for Two Millions ( which , were it duely tax'd , no Doubt it would Raise ) and , upon the Taxing and Levying thereof , it shall appear to amount to no more than One Million and a half , &c. ] who so ever shall voluntarily Advance and Pay any Sum or Sums of Money , or Plate , as aforesaid , towards the making up the same , might , For every Hundred Pounds Sterling so payd by him , Receive and have like Bills of Credit deliver'd him to the Value of 120 l. and so proportionably for any Lesser or Greater Sum that shall be so payd in and Receiv'd on that Account . On which Terms , no Doubt , but such Sums as the Parliament shall think fit to Raise , for carrying on the War ( from year to year ) may , and will be Raised , in Money , for that Service ; as Long as there shall be so much Money in Trade , or hoarded up , in the Nation , to be had : Which is our present Consideration and Care. And , further than that , is to be Over-fore-sighted in the the present Christs . And , If any Object , This will Reflect on , and Lower the Reputation of Our Nation abroad ; as if we were reduced to so sinking a Condition , as not to have Money sufficient to carry on the War : And , thence , that we can not hold out , to the Length of the French King , &c. I Answer , First , Sect. XI . Such as so think will but deceive themselves ; and , if they be Our Enemies , be necessitated to take New Measures ; for , ( which they might have observed before ) the King will certainly be supplyed by this means with ready Moneys , as much as he shall need , each Year , and that , in the beginning thereof ( and by no other way whatsoever ) for carrying on the War. For , these Advantages will bring out all the hoarded best Money which any have Cull'd and Layd by against a more Clowdy Day . If means be used for promoting Trade ( as is hereinafter proposed ) Otherwise , 't will be in vain to conceal our Poverty : All the World will see it , what ever Taxes shall be Layd on the Nation , cannot otherwise be payd : So that , if Our Dependance should be thereon , they must and will fail , for want of a Money-stock to pay them : But , Sect. XII . Second , It 's well known , That all Nations , and Persons , improve their Credit ( some Banks of Credit ) as well as Moneys for carrying on their respective Trades , and Occasions , both at home and abroad ; without the least Reflection of Dishonour ; and , Grow Rich thereby [ to which many of our Wealthiest Men in this City and Kingdom , must subscribe , who began with Little of their own ] And , much more may these Nations . For , Sect. XIII . Third , His Majesty and Parliament [ Designing Vast Improvements , both of Wealth and Power , for these Nations , by their own Products and Manufactures ( which may be as well done by Bills amongst our selves , as by ready Moneys ) beyond whatever was in Prospect , Attempt or Attainment heretofore , by us , or any Nation under Heaven , by all their or Our ready Moneys ] By this Medium of Bills of Credit , added to Our Money-Stock , for the Inlargement and Increase thereof to what Proportion they please will be able to carry on the same , Pari Passu , with this Expensive War : And thereby become more Formidable to Our Enemies . And , the Rather , Sect. XIV . For that , no other Nation will be able to keep Pace with , or go to the Length of these Kingdoms , nor to imitate us considerably , in these Undertakings ; by Reason of our Products and Manufactures , to so great Excess of theirs , &c. which must of Necessity bring in Great Plenty of Gold and Silver . Nor , will they be able to hinder our Free Trading , during the Lasting and Continuance of this War ; if we be not wanting to Ourselves : And , consequently , in an Ordinary Course of Providence , we shall find our Enemies disposed , or necessitated to seek Our Peace and Friendship , when they shall find us disposing Ourselves into such a flourishing Condition . Which brings on the Consideration of the Ways and Means next to be Treated of , viz. Under , The Fourth Question , viz. How shall Our Trade be Recover'd ? So as to Preserve our Coyn , and Augment Bullion ? &c. Sect. XV. I Answer , First , By the Parliaments owning and encouraging The Royal Fishery Company and Trade , to the encrease of One , Two or Three millions per Annum Export , of that Sea-Product : Which , Added to Our other Products and Manufactures , and they also improved and multiplied as aforesaid , must necessarily produce and bring in great Wealth , of all kinds : And particularly , Plenty of Moneys , for its Balance , from the Masters of it in all Countries , &c. For , the Situation of these Islands , being such as may justly challenge to be the Emporium or Mart of all Trade , beyond all others put together ; and Furnish'd thereby , at all times , with Magazines and Stores of all Sorts , for war and peace ; for Our selves and all our Neighbors , must needs be attended with this Success ( Our Ports being made Free for their Importation , and Exportation after a time to be Limited . ) And , we shall not need to fear the Vent of such Surplusage of Imports as We shall not use , even for Ready-moneys of all Countries who shall need them : Nor shall we have any occasion to Send out our moneys , to Fetch in like Proportions yearly . Sect. XVI . Secondly , By taking care , That Guards and Convoys be always in a Readiness to attend , as well our Fishing-trade , as our Foreign Exports and Imports : To which purpose , it is Humbly Proposed ( as necessary hereunto ) that a Select Number of Ships of War be set apart for that sole use : and be under such Conduct and Commanders as may be accountable for their Miscarriage , by the Neglect of their duty therein . The Raising , Charge and Paying of which Ships may be Born , and Provided for , by the Bills of Credit afore-mention'd , which will cost the Nation nothing . And this May be called ( in way of distinction ) The Trading Admiralty , or Fleet volant for Trade ; as the other is The Navy Royal. It may also be done by Commissions from His Majesty , and be but Temporary , viz. whilst His Majesty , being engaged in Wars abroad , cannot so well , or seasonably attend the particular consideration of such things , as may encourage and enlarge so great trade of these Nations , Or Addresses cannot be made to him in order thereunto . If it be said , This seems to Lay the whole Foundation of our Trade and Commerce , on Bills of Credit , which have Neither Intrinfick Value , Nor Fund . Sect. XVII . Admitting that , yet ( 1. ) If we have a Sufficiency of these Bills in Our Counting-houses , Pocket books , or Letter-cases , uncounterfeitable , made Current ( as Moneys ) by Act of Parliament : which will answer all our occasions at home , as well as moneys in specie ; and particularly may as well be disposed forth at Interest on Bonds , as Ready-money in Baggs : And consequently we become as rich in these , for all Uses to which we would employ moneys , as now we are ; yea , and much more : Where then Lyes the Force of this Objection ? For , Sect. XVIII . ( 2. ) It cannot be deny'd , but that , If we were twenty times as Rich , in that which will effectually carry on Trade and Manufactures , pay Debts , purchase Lands , and manage our Markets , amongst our selves , as now we are , or Ever were , We shall be able thereby to multiply and Export Our Manufactures proportionably ; and carry on our Fishing-trade ( the Richest Golden Mine in the Experience of our Neighbors ; so called by them , for that it infallibly brings them Gold in ) to far greater value ( from the Greatest Masters of it ) than our necessary Imports of Commodities from other Countries need to be , for Our home Expence : And what 's Imported more , may be Easily ship'd off to other Countries ; as is aforementioned . As for Example : Sect. XIX . If we were wont to Export Cloths , Stuffs , Lead , Tin , Iron , Moneys , Bullion , &c. To the value of Two Millions yearly ; And , by the Fish we may take , to Export One , two or three Millions more , without any Moneys , &c. The Product and Ballance thereof must be answer'd to us in other Goods from other Countries ; or Remitted or brought to us in Bullion , or Ready-moneys , ( as it has with our Neighbors to above Five millions per Annum , on that account ) Or it must Remain in Our Factors hands abroad , for Supply of our Foreign Occasions : So our Riches will encrease , proportionably as the Export can be encreased , whether of our own Products and Manufactures , or other Importations ; for , there will be no occasion for Transporting Our moneys for goods : And it is undeniable , That whatsoever means may be suggested for furnishing or keeping of moneys amongst us , must be Fruitless : For , there will abide no more with us , than such Proportion , as the Superbalance of Our Exports shall amount unto , let what value will be set on our Moneys , above the Current price thereof here , and in other Countries with whom we deal . Sect. XX. ( 4. ) It 's found by Experience , That , Bills are judged so necessary ( whether of Intrinsick value or not ) as that , without them , these Kingdoms cannot otherwise subsist , or pay Taxes much longer . And They are become so useful and eligible already , as that most men desire them rather than our present moneys : Upon which Presumption ( since the Erecting the Bank of England ) Banks of Credit are multiplied , upon mens voluntary Undertakings ; on various Principles or Funds , Methods and Pretensions , also Uses and Ends : Most of them for the private Advantages thereof to the Undertakers , and without any Reference or Regard to the Supporting the Parliamentary Funds and Credit given by them ; Or , Having the least Respect to the present Exigences of the Publick , or How they shall be Provided for next Year . By which means , nevertheless , the moneys we have are , for the present , Eek'd out for Our necessary occasions : And both our Markets at home , and Bills of Exchange from abroad , have been Supply'd and Answer'd . And , if so , Sect. XXI . Why may not such Bills of Credit as are Proposed , be made Current , for the Service of the Publick , By Act of Parliament ; and Regulated or Kept within Bounds by Law , for carrying on this Necessary War ; wherein the King has been engaged by Parliament . Particularly , why may not His Majesty be supplied with such Number and values of them , as , Added to what present Taxes the condition of the Nation will bear to have imposed , upon the terms aforesaid , may compleat the Sum needful , for Carrying on the Present War , this next Year ; and , so much Longer as that shall continue ; and also , pay off the Debts contracted Last Year , &c. thro' the deficiency , or falling short , of the Sums or Funds setled for the same ; in the way and manner before Proposed ? As touching that part of the Objection against the want of a Fund for these Bills , &c. I Answer , Sect. XXII . Tho some things might be offer'd ( which possibly might silence some Objectors ) yet the Debt ( should the War continue ) would be so Vast , as , Nothing Less than the whole Nation can be Equivalent : And , That can no otherwise be engaged , than by an Act of Parliament . It cannot be Rationally Expected , they should Expose Particular Estates of this , or that , or another Sort of Men , to become liable , exclusive of Others : And it 's manifest , if the People were ever so willing , they cannot pay down so much Money , yet the War must and may be carried on by Bills , &c. If ( then ) the Parliament shall judge it necessary to make use of such Bills of Credit , and to make them Current by Law , and for facilitating the New Coynage of our present Moneys , and giving some Respite and Ease from greater Taxes , shall Enact , That they shall be , and continue , Current until the Nation be in a better Capacity and Condition to pay them off , by Laying Moderate Taxes on all mens Estates and Persons in general ; and shall rather chuse to have them so paid off , than to continue ; That will be as good a Fund as can be expected . For , Why should they be called in , at any time , to become so Burthensome ? First , They will be of such General Use and Great Conveniency , when understood and further experimented , as , People will chuse to have them rather than moneys in specie ; as is found true in fact amongst Our Selves , to the value of many Hundreds of thousand Pounds already given out by the ' foremention'd Banks erected . Besides which , They have also been so found and approved of in other places of the World , even where Money-Banks have been erected by Publick Authority , viz. In Holland ; where their Bills , or Credit in Bank , are ordinarily better than Moneys , by at least Three per Cent. ( sometimes Four , Five , and more . In Venice also ; where their Credit is better by 20 per Cent. and was Once at above 30 per Cent. and with much difficulty Reduced to 20 per Cent. where it 's Fix'd to be so . By which means also that State has answer'd a Debt of above Two millions borrowed of their People , and spent on their publick occasions . And , all their Creditors are so satisfied , as , That , never will any of them ask 100 l. for the 100 the State had of him ; being sure of 120 l. for the same from any other hand . Sect. XXIII . And if any enquire , What induced that people thus to Raise and Value their said Bills or Credit ? I answer , 1. The Ease of Counting , Carriage , and Preventing Damage to the Receiver by Counterfeit , Clipp'd and Base Coyn ; which is as valuable with us , at this Juncture . ( As is obvious to All. 2. Their Safety in travelling , &c. ( As visible as the other . 3. The Advantage that was to be made by the Exchange , on the Account of such Conveniences , &c. Where then is the Necessity or Vsefulness of a Fund , in our Case ? Sect. XXIV . I answer , ( 1 ) Some late Proceedings , for Raising Moneys , have given a Rise for such an Expectation ; But , there , men parted voluntarily with their Estates ; whereas , in this case , men have these Bills for Nothing , And may dispose them to the Uses of such Trading and Manufactures , as may bring in Riches to themselves , and the whole Nation . ( 2 ) 'T is Objected , upon a Supposition , that some Persons , ( perhaps of those who will be concern'd to give a Sanction to the matter of these Proposals ) may imagine , that the Bills delivered out must necessarily be call'd in , at one Time or other , &c. whereas such consider not , that the Usefulness of these Bills will make them Current for continuance , and preferable to Moneys , upon the forementioned Accounts ; as it hath proved in the Two forementioned Instances . And , If still any doubt , That Bills may prove prejudicial in after-times , and , that if any future Parliament shall conceive them to be so , they 'll make them voyd , &c. Sect. XXV . That 's thus Resolv'd , viz. Instead of prejudicing the Nation , they will continue to Promote , Improve and Carry on Our Home-Trade , Manufactures , and Fishery , as aforesaid . And thereby Answer Our Expectations as effectually as Moneys in Specie : And , the rather , for that the Generality of the People ( at their First Receiving of them , ( viz. for the Re-imbursing of their Taxes ) will be thereby Prepared to Esteem them , By their Propriety in , and Possession of them , in the way and manner before proposed , and become enrich'd thereby . It will therefore be , as far from any Parliament to pass a Law to make them voyd , ( without first paying them off ) as , to pass an Act , for taking away all their Lands , ( which , their Justice , as well as Interest will not suffer them to do ) For every Parliament-Man , and Person in the Nation , will have a considerable part of their Personal Estates lye principally in these Bills . So , That Fear is sufficiently removed , by Interest , which will not lye . But , May not our Coyn be so Raised in Denomination , Price or Value , as to bring in Gold and Silver plentifully ? Sect. XXVI . I Answer , it 's Evident , ( even to a Demonstration ) That the Inhansing the Value of our Moneys , whether Silver or Gold , is , and will be a very great impoverishing of , if not utterly Destructive to the Nation . For , that , will , unavoidably raise the Price of all our Foreign Exchanges , and work Confusion in our Trade . And , that Raises , consequentially , the Price of all Goods ; not only of Foreign but Domestick . Which , though it may not be any great Damage ( possibly ) to Our Retaylers thereof , and such as bring to Our Markets ( for they will not sell to Loss ) yet , to the Body of the Rest of the People ( the Buyers thereof ) and , the Poorer Sort , especially , viz. Servants , Day-Labourers , Artificers , Seamen , Souldiers , &c. it cannot be otherwise : And what a Condition then will this bring the Nation into ? Sect. XXVII . Now , that it is , and will be so : I shall give Two Instances . within His Majesties Dominions in America , which occured to my Own Observation , whilst I was the Unworthy Governour , of the Province of Pensylvania , viz. about Seven Years since . The One is , in New England ; where the Government , conceiving they had power by their Charter from the King , to Coyn Moneys ; Coyned Shillings of about the Value of Nine Pence Sterling , and Stamp'd the same Twelve Pence : They also Raised the Value of Spanish Pieces of Eight , of above Seventeen Penny Weight , from Four Shillings Six Pence to Six Shillings , ( which held proportion with their Shillings ) This They did , upon this Vulgar Error , and misapprehension , That , by this Inhansing the Price of Silver , They should , both keep their own Coyn , and , bring in and retain other Imported Moneys , amongst them . But , This ( instead of Answering their Expectation ) Raised the Value of all Goods , to , at least 25 per Cent. And likewise all their Exchanges , whether to , or from England , or other Parts , proportionably : Or , so much more of their Moneys were carryed forth in these Species ( tho' they were sufficiently severe against its Exportation ) to their Disappointment . The other Instance ( and more notable ) is in Pensylvania ; where , tho' they Coyned no Moneys , yet , suffering Spanish pieces of Eight , of not above 11 or 12 penny-weight , ( and consequently not above 3 Shillings in value Sterling ) to pass current at 6 Shillings : And , tho' the Exchange did not Rise proportionably ( For , They had Little or very Seldom occasion to Return any in Trade ) ; yet this other Consequence attended their so doing , viz. That such as brought thither any Goods or Merchandizes , needful for that Plantation , from England , &c. when any came to contract with them for their Goods , they treated them after this manner , viz. ( Says the Importer ) The Cargo cost me 100 l. in English Ready-Money , at about 5 s. per ounce Sterl . whereas Your Money is not half the value : So , I must have 200 l. of your Money , or , I shall be a Loser of my First Cost : And I cannot take less than 50 l. Sterling per Cent. for my Freight , Risque , and Profit , which will be 100 l. more of your Money : And accordingly Receives of the Retailer there 300 l. who , generally raises the price of the same Goods to another 100 l. whereby , the price of the same Goods which cost 100 l. English-money , costs the people there , Four hundred pounds . The Importer , having Receiv'd his 300 l. Buys therewith ( only ) such Commodities of the Country-Products , as he needs for his Voyage ; and carries away the rest in specie ( making Money , which ought to be the Standard of Traffick , to be the Merchandise ( as they must do who take it at enhaunc'd values , &c. ) And , Thus three pieces went for one , and their Moneys decreas'd proportionably . The Effect whereof was , The Generality of the People ( except their Shop-keepers , Artificers , Handycrafts-men , Carpenters , Bricklayers , Labourers , and Servants ) grew poorer . And , particularly , it had this influence upon the Landed men ( whether Proprietors or Farmers ) viz. that they are forced to give great wages to all these Sorts of poor people , especially to Ploughmen , Carters , &c. viz. From 12 l. per annum wages to 27 l. ( besides Victuals , &c. ) And , at this Charge , they get a little Corn ; which , if they spend not all in their own Families , they bring ( what 's left ) to the Market , and sell that there , at 2 s. 6 d. the Bushel of Wheat , which , in English Money , is but 15 d. per bushel . Which impoverisheth the Masters ( many of them ) to such degree , as , after a while , their Servants set up in their steads , on new Plantations given them for their Encouragement to plant the Country : And their Masters Children become their Servants : All which naturally ensues their enhaunsing the value of their Moneys , amongst themselves : For , say their Servants , &c. We must have such Wages , or we cannot live : We can Buy nothing we have occasion for , but at four times the Rate of what 's paid in England . And therefore , Whilst we Plead ( tho' under the most specious pretences having Regard barely to the Theory and Notions of things taken up thence , or from vulgar misapprehensions ) for the enhauncing of our Silver or Gold , to above the Par , Intrinsick value and ancient Mete-yard of Traffick , between us and other Nations , We are , in truth and reality , steering by the same Needle , or Common Politicks of Pensylvania ; and discern it not . Which will ( in time ) be like Ruinous to Us. Nor is it any Answer to our Assertion , to tell us , Our Servants , &c. need Nothing that comes from beyond Sea ; ( which may be as truly predicated of Our selves too , could we be contented ( with Sobriety ) to use our own Products and Manufactures ) : For , what does that avail ? Such do not observe or consider , that the prices ( even of our Home-Commodities and Manufactures that are necessary , ( as well as Foreign , that are less necessary ) are Raised alike upon us all , since Our Coyn hath been at this pass . Nor do such give us any Estimate of the Height to which Servants , as well as their Masters , are grown , ( since the last Act of State for enhauncing the value of Silver and Gold ) in their Expectations , and Deportments . Which yet can no more be Reformed , than the Nation Converted from their Atheistical Prophaness , and Impieties , &c. till their Superiors and Masters set them better Copies to write by . There is , then , A Necessity of putting a Stop to the enhaunsing of our Moneys : And , if any Easier , Safer , More Probable or Advantageous means , ways , or methods of doing it to general Satisfaction , than these afore mention'd , and humbly propos'd , be offer'd ; I shall readily Receive my dismiss from this Controversie , having offer'd my Poor Mite . But , There Remains yet One Stumbling-block , in the Minds of some ; who do not duly weigh and consider , That there 's no Perfection attainable under the Sun , &c. 'T is this , viz. The Danger of Counterfeit Bills . Touching which , I shall offer some Considerations , viz. I Humbly Proposed , 1. That the said Bills of Credit should be printed or impressed on Paper , from engraven Copper-plates ; and gave Reasons for it . Which , together with a Specimen of such Bills , being Uncounterfeitable , I shall readily Evince when required . 2. That the said Paper should be of a Different Make and Mark from any yet Extant in the World. 3. That the Indented Counter-parts of Each Bill , should be Filed up , and kept in a Publick Office or Offices , to be erected for that purpose ; in order to the discovery and preventing of Damage thereby , to the Publick . 4. That the Printing or Publishing such Bills , to any greater Number , Value , or Proportion than shall be allowed and appointed by Act of Parliament , ( tho' by the persons that shall be thereunto authoriz'd ) might be made as penal as Coyning or Counterfeiting the Current Moneys of the Kingdom . Or , That the same : And , particularly , 5. That the engraving all such plates , and making , having , or keeping undiscover'd any such paper , so made and mark'd , as from time to time shall be made use of upon this occasion : Or bringing the like into this Kingdom from beyond the Seas , by any other person than by Order of such as shall be by such Act of Parliament appointed and authoriz'd thereunto , might be punish'd with great Severity , both Corporal and pecuniary ( in terrorem ) viz. ( Being Convicted thereof ) may be Branded in the Right Hand and Forehead , or Cheek : So , as to be known thereby ever after ; and thenceforth kept strictly to the most Severe , Servile , Constant , Hard Work and Labour : Enjoyned a daily Task ; and on failure of doing it , have Correction at the Keeper's or Workmaster's discretion : Never to be pardoned , remitted , or mitigated , but upon the discovery and producing of other his Partners , Accomplices , Associates or other Offenders in like nature , and proving the same . Which , undoubtedly , if pursued , will deterr and keep all men , who have the least Spark of Ingenuity or Humanity from attempting to Counterfeit these Bills , if any thing will. And , 6. That tho' it is impossible in nature these Bills should be so Counterfeited , as to Deceive the Office ; Or , That in 20 millions of them , printed off from the same Copper-plates , any two should agree , [ as hath been acknowledged by several Engravers and other Counterfeiters of Writings critically skil'd in such Affairs , and call'd together for Advice in the like Case ] yet , That persons abroad may not , in all cases , be so critical as to discern true Bills from false , through the Niceities of them . It may be therefore Queried , viz. Is there Any Course to be prescribed by way of Remedy for avoiding False Bills ? I Answer , 1. Where the distance is not great , persons may Repair to the Office , where the Counterparts of all True Bills Remain ; and , have them examined , as Exchequer-Tales by applying the Counterparts : And , if Remote , They may be sent up per Post , &c. Or , The person who offers them , may be put upon the proof of them ; or , if suspected , give Security . And being made to continue but for a Year , from the respective Dates of them , ( as is propos'd ) They will then be certainly Detected , and the Values of them known . 2. Suppose that there should be some Bills Counterfeited , which may be thought fit to be Repaired ( to the person deceived thereby ) By the Publick : It would ( in the whole ) be far Less ( being thus Annually detected ) than the Twentyeth part of the Interest-Money , hitherto allowed for Moneys borrowed upon the Funds settled , and Layd upon the Nation according to Mr. Brisco's Computations , in his Printed Treatise . ) Besides , the Repaying of them might be by other Bills , which would cost nothing . But , 3. The Risque of such is No greater than of Gold and Silver Coyn , of which the Nation has been , and dayly is , and will be deceived : Nor than That of all Merchants Bills of Exchange , and Letters of Advice from Foreign Parts : All which may be more easily Counterfeited . Besides , 4. There 's no Sorts of Deeds , Conveyances of Lands , or Bonds given for Moneys , But , they , also , are more Lyable to be Counterfeited , both as to the Hands and Seals of the Granters , Obligors , and Witnesses : All which , &c. may be so Counterfeited , as , the Parties themselves will not be able to deny them to be theirs . Yea , even Exchequer-Tales , are lyable to be Counterfeited , so as Persons may be doubtful , till they come to the Office , &c. Yet , By these more uncertain Methods of Common Dealings , and Dangers , We are not affrighted , or taken off from our Correspondencies , and Businesses , as Men. Why then , in this Case only , and upon this Urgent Occasion ? Wherein , if now we become so singularly Wise or Cautious , as to stumble at the Threshold , we endanger Our Selves , and these Nations and Government , to All Our unavoydable Ruine , Rather than run the Hazard of ( probably ) some small inconsiderable Sum per Annum , which will certainly come to be discover'd , at each Years end , at farthest , and Cancell'd ? This were to be Penny-wise , but Pound-foolish , according to Our English Proverb . 
A47388	----	A proposal, shewing how this nation may be vast gainers by all the sums of money, given to the Crown, without lessening the prerogative humbly offer'd to the King's Most Excellent Majesty, the Lords Spiritual and Temporal, and to the knights, citizens, and burgesses, assembled in Parliament / by William Killigrew ; to which is prefix'd the late Honourable Sir James Sheene's letter on the same subject and the proposer's answer. Killigrew, William, Sir, 1606-1695. 1663 Approx. 32 KB of XML-encoded text transcribed from 9 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2003-05 (EEBO-TCP Phase 1). A47388 Wing K466 ESTC R596 12952528 ocm 12952528 95985 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . 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Keying and markup guidelines are available at the Text Creation Partnership web site . eng Finance -- England. 2002-11 TCP Assigned for keying and markup 2003-01 Apex CoVantage Keyed and coded from ProQuest page images 2003-02 John Latta Sampled and proofread 2003-02 John Latta Text and markup reviewed and edited 2003-04 pfs Batch review (QC) and XML conversion A PROPOSAL , SHEWING How this NATION may be vast Gainers by all the Sums of Money , given to the CROWN , without Lessening the Prerogative . Humbly Offer'd to the KING 's Most Excellent Majesty ; the Lords Spiritual and Temporal ; and to the Knights , Citizens , and Burgesses , Assembled in Parliament . By WILLIAM KILLIGREW , To which is Prefix'd , The late Honourable Sir James Sheene's Letter on the same Subject ; And the PROPOSER's Answer . A LETTER from Sir JAMES SHEENE , ( writ by himself Three Weeks before his Death . ) SIR , I find our Leisure Hours , not happening at the same Time , we cannot Meet so often as I desire ; But , if you please , we may some times Converse on Paper , for Diversion I have often reflected on our last Discourse of Banks and 〈…〉 England 〈…〉 ving found your Printed Proposals , amongst many others ; which , comparing with Yours , I find Yours Metamorphosed , ( but not Mended ) in almost all their Designs : And I must Infinitely blame You , for not Reprinting your Proposals , with the Additions we discoursed of lately ; this being a fit Time , when the whole Nation has approved of Banks , and the Currency of Credit , and the Usefulness thereof , as well as the Necessity our Coyn has brought us to . Pray , First , do me the Favour , to Answer the following Questions , at your Leisure . I. How do you like the Securities Proposed by the other Banks ? II. Do you believe , they will reap Advantages by their Undertakings ? III. Will their Banks make good the Word , NATIONAL , and for the Publick Good , and Accomodation of Trade ? IV. Why do you call your Paper , PROPOSALS , since by your Discourse , I find you design to do all , and more than the now Banks pretend to do , by adding Clauses in the Act of Parliament , if your Proposal had succeeded ? V. You tell me , your Security is not only Greater than any of the other Banks , but greater than any in the known World ; and a hundred times more Security , than would be Necessary , or demanded ; Pray shew me , how that can be ? VI. And Lastly , I desire your Leave to Reprint your Proposals , with the Additions , if you will not do it your self ; and you will extreamly Oblige , SIR , Your Most Humble Servant , J. SHEENE . WILLIAM KILLIGREW his Answer to Sir James Sheene's Letter . SIR , ACcording to your Desire , I here send you my Proposals , with some Additions , and your Questions , Answered : You may believe , I am not a little Proud of your Approbation of my Proposals , which encourages me to Reprint Them my self ; altho , I do protest , I do not believe it will be set on Foot , unless I could back it with a large Stock , or an Estate ; which many People take for Sence : Besides , I have met with strange Objections , which the Objectors positively Answer Themselves in the Affirmative , without hearing me speak . One Objection is this , This would be too Easy . Another asks , How will Men , in Power , be able to Impose on the King , and the People , if this were set on foot ? I must confess , I did not imagine , a Bride could be too Handsom , or her Portion too well Paid . I do confess I see my PROPOSALS Metamorphosed in many others , but not Mended ; I will not exclaim against their Industry , who , seeing my Proposals have no Effect , have made Proposals for their own private Advantage ; But , in my Opinion , very dangerous to the Government : For , if they succeed , so great Power and Riches will accrue to the Undertakers , or Governours , that they will become our Masters : We must Vote , Elect , and Choose , as they please ; or they will Call in , and allow no Prolongation , but Enter and Seize . And , if any Accident hinders their Success , or moved by Interest or Necessity , to stop Payments , pray , whom can you Sue ? May we not be Necessitated to loose 5. 10. 15. or 20 l. per Cent. or more , and be glad we can get any thimg ? May they not have People ready to buy the Bank-Notes of the Necessitous , with the Bank's-Money . I must confess , Dr. Hugh Chamberlen's Land-Bank the Best , if he has a Stock in ready Money to help the Circulation at first ; altho' His is the least comprehended by the Generality : But still the Profits accrue to a particular Society , and not for the National Use. Mr. Robert Murray , who was the First that put my Thoughts on these kind of Banks , is ( at last ) become of my Opinion , to set up for a Real National Good , which heretofore he did not approve of : Now I look on his Design as the Best , because it is the same with Mine , only in other Words : He talks of the Rational Part , and I state the Practical Part ; which , I believe , he will concur with , as I do with Him. I call my Paper , PROPOSALS , because it is not a Bank ; nor can I call it a Cantore , like the General Cantore in the United Provinces ; because , This doing the Duty of Both , and more , it will bear neither of the Names , and would give our Criticks occasion to Exercise their imaginary Wit ; it may be Christened , if it sueceeds : And , having convinced You , I dare boldly say , I do not fear the Convincing any that will take the Pains to discourse the Matter fairly . What I have added since my First Printing these Proposals , will , I hope , answer your other Questions : Which is all , at present , from SIR , Your most Humble Servant , WILLIAM KILLIGREW . Note , Sir James Sheene fell Sick , and Dyed Eight Days after this Letter was writ . A PROPOSAL , shewing how this Nation may be vast Gainers , by all the Sums of Money given to the Crown , &c. I Put this Design in Writing , at the Request of several considerable Members of both Houses of Parliament , in the Reign of King Charles II. when a War was voted against France ; but a Peace being concluded , no Money was given ; and since that , I have had no Opportunity to do my Country the Service I design'd by this Proposal . But the general Approbation this Paper had from all that saw it , in Three several Parliaments , and very many considerable Members having declar'd , that they could not couch any one Rational Objection against what I here humbly offer ; I have thought fit , in this juncture of Time , to Revive this Design ; and most humbly refer it to the Wisdom of the KING , and both Houses of Parliament . As I have not the Nomination of the Sums now to be given to the Crown , so I shall only suppose a Sum of Two Millions ; but the Case will hold on all Occasions , of the same Nature . I humbly beg Pardon , if I am plain and short ; I pretend not to Eloquence ; I shall first set down what I would have done , and then shew what Advantage this Nation will reap by so doing : Lastly , I will Answer all Objections that have hitherto been made , and shall be ready to Answer any Objection that may hereafter be made . I cannot vary from my first Proposals ; but have added something on Sir James Sheene's Letter and Approbation . PROPOSALS . I. SUppose , that a Tax be set , that will raise 300000 Pounds per Ann. this Tax to continue till 2000000 l. is paid , with the Interest and Charges . II. Let there be an Office erected in the City of London , near the Royal-Exchange ; let the Tax of 300000 l. be paid into the said Office , in the same Species , as they receive it ; Because most of the Taxes will be paid in Money , in small Sums , which they must not change for Bills ; yet they must take Bills , where the Sums amount to so much . Now , this is necessary to create a Cash , to pay Interest , or Foreign Bills ; which must be compos'd thus . 7 Commissioners , of which one or more to be Treasurers , — — — — 7000 l. per Ann. 1 Secretary , — — — — — — — 500 l. 10 Clerks , — — — — — — — — 1200 l. 2 Door-Keepers , — — — — — — 200 l. 6 Messengers , — — — — — 300 l. House-Rent , Fire , Candle , Paper , &c. — 800 l.   — —   10000 l. per Ann. III. The Tax and Office being fram'd , it must , by Act of Parliament , be order'd , that the Office shall be govern'd thus . IV. The Office must be open , and the Commissioners must sit from Eight of the Clock till Twelve every Morning ( except Sundays , and Holy-Days ) and from Two till Four in the Afternoon . V. The Office must accommodate all Persons , without Fees or Delays . VI. The Office must pay every Creditor , in as many Bonds as the Creditor pleases ; and at the Creditor's Choice to have his Name in the Bonds , or Blanks ; saying , Payable to A. B. or to the Bearer : This Last is Best , because of transferring them . VII . No Bonds to be above a Hundred Pounds , nor none under Five ; for the lesser the Bonds are , the better they will pass in Trade . VIII . The Act of Parliament must also make it Treason for the Office to issue out more in Bond , than is order'd by the said Act ; else , like too much Allay in Coyn , the Bonds would be imbased : These Bonds must also be Sign'd by Three Commissioners at the least , besides the Secretary . IX . At the Expiration of every Six Months , the Office must pay the Interest of every Bond standing out , and according to their Date ; and mark those Bonds they design to pay off , at the Expiration of the next Six Months , by writing on these Bonds , thus , This Bond shall be paid off , Principal and Interest , this day Six Months : This must also be Registred in the Folio of those Bonds , in the Office-Books . X. The Commissioners must issue out these Bonds or Warrants from the Treasury ; by which Means , the Crown , nor the Treasury , are not lessen'd , but remain still the Fountain-Head . XI . These Warrants must be brought by some Person or Persons , Authoriz'd for that Purpose , to avoid false Warrants . The Treasury must also send a Letter of Advice , before such Warrants may be accepted . XII . If any Bonds are Lost , Stoln , or Burn'd , the Parties concern'd must give Notice thereof to the Office ; to the end that the Office may stop them that bring the Bonds , and give Notice thereof to the Owners : But , if the Bonds are so Lost , or Burnt , that they come not to the Office , then it must be made publick in the Gazette several times ; and if the Bonds appear not in Six Months , the Officers must give the Owners new Bonds , on good Security , that they are the Parties whose Names are last Registred in the Office-Books for the Lost or Burn'd Bonds . XIII . The same Act that settles the Office , and the Tax , must declare , That the Crown has Credit at the Office for Two Millions , payable thus ; The Parties , concern'd to receive the Money , shall , on Warrants from the Treasury , receive the Office-Bonds , and 6 l. per Cent. per Ann. Interest . That the Interest shall be paid every Six Months , and Six Months warning given before the Principal shall be paid off : This , because People shall have time to find out other ways to dispose of their Money , to new Advantages . XIV . The Act further declaring , That the Office-Bonds shall not only be transferrable , but Currant , as Money , in all Payments whatsoever , even into the Exchecquer : And it must be made Treason for any of the publick Receivers , to refuse the Office-Bonds , when tender'd in the Payments . Counterfeiting of these Bonds must also be made Capital ; altho' I know , 't is impossible to Counterseit the Bonds , which must be made on a Marbled , or Flourish'd Paper , fairly Tallied and Registred in the Office-Books , where the Counterparts must be kept . ☞ On this Paragraph depends the whole Proposals , the Objections , and Sir James Sheene's Questions : This causes the Bills , or Tallies , to be a new Specy of Money , superior to Money , made of Gold or Silver : This makes the Security a hundred times more than ever was proposed or given ; because all the Revenues of the Crown , all our Trade and Consumption , is Security , as well as the Taxes , set to pay the Principal and Interest , and Charges ; which Security , is far more than I have said , of a hundred times more than was ever given : This unites the King , and People , by the strongest Bonds ; I mean , their Interest , to support each other : And it was an Argument for the Million-Lottery , That it would oblige so many Families to be Friends to this Government . I propose the Bonds on Marbled Paper , because less Burthensome , and easiest to Register , and turn'd to their Folio ; else a Tally of Wood , or Mettal , is as good . Now , I ask , If all our late Tallies had been made Currant by a Law , how would our ill-affected , and our Money-Mongers , have imposed on the necessitous ; who have been forced to sell at vast Loss , and intollerable Usury of the Buyers ? Consider the vast Loss our Trade has had of late , by This , and the Bank-Bills , and what People have suffer'd for want of their Money : How impudently have Men been refused their own Money , payable on Demand ; not that it is possible , that the Nation wants Money , or Bullion , to Circulate our Trade . Many cry out , That our Money , and Bullion , is Exported , never to return ; I wish our Knavery , Usury , Factions , and Self-Interest , were Exported ; and am confident , these Proposals will send away a great part of these Destroyers of the Publick Welfare ; a worse People than our Coyners , Clippers , or Robbers . Pray , Is not a Government oblig'd to make Laws for the Publick Good ? And , do we not daily desire the Increase of Trade ? Ought not a Government to oblige the People to do what is for their Advantage ? Who will not force a Mad Man to be let Blood , and take wholsome Medicines ? Is not the Nation in a Distraction about their Money and Credit ? Is not this Method a Wholsome , Secure , and Infallible Cure for this National Distemper ? Why then should not the Government oblige Men to take this proposed Currant Credit , grounded on so Solid , and so great a Security , and so generally Advantagious ? XV. It must also be made Capital for the Office to make any Use , or Private Advantage of the Publick Cash ; and they must order it so , as to have a good Cash , because many times the Tax may not be paid in , time enough ; it may be , a Month or two later than the Interest is due . And a considerable Cash may be kept , to answer Foreign Bills , if ready Money be requir'd : This I add , to answer a Noble Lord's Objection : But , suppose these Bonds , or Bills , will not pay Foreign Bills , I shall make Use of a Saying of Dr. Chamberlain , viz. That a Stage-Coach is a good Convenience to a Man , to go to York ; yet that Coach cannot set another Man down at Exeter . And what is hereafter added , will bring in Cash enough , to answer any Foreign Bills ; besides , how will the Bills be paid , without this Proposal , which must , of necessity , make Gold and Silver Coyn free and common in the Nation ? XVI . These Bonds being thus made Currant , and Grounded on a Law , and the Security of the whole Nation , they will not only be of an Intrinsic Value , equal with Gold and Silver , but superior to either ; and of the same Consequence , as if so much Money were Imported , and given this Nation , to Trade with . XVII . I say , these Bonds will be superior to Gold or Silver , because these Bonds cannot be Counterfeited , Lost , Stoln , or Burnt , without Recovery ; they will be a new Speices of Money , that will grow in our Coffers , every day increasing ; which Gold nor Silver does not , but is liable to many Inconveniencies ; as Thieves , False and Clipp'd Money , Counterfeiting , Loss of Time in Counting , and Chargeable to carry in large Sums . XVIII . These Bonds will soon become our best Payments , and Coyn , for every one will covet them ; nor will any scruple to fetch their Payments at the Office , more than now they do fetch their Money at the Exchequer , or Lombard-street ; and the Bonds must be transferr'd at the Office , because the Counterparts are kept there ; the Office becomes Witness to the Payments , and avoids Disputes at Law. XIX . All Mankind must confess , That Credit grounded on a good and solid Security , if it can be made currant , is not only as good , but better than Money it self ; for Money does no Man good , until he has disposed of it for good Security : And I desire to know what Security can be offer'd so great , and of so Intrinsic a Value , as these Bonds . Note , There is no end of Security , as long as there is a Fund to support it ; it runs ad infinitum , and we can never be overburthen'd with it ; for it stops when there is no Occasion for it . The First Years Accompt stated . XX. In Bonds the Debt is — — — 2000000 l. For Interest at 5 l. per Cent. 120000 l. 130000l . For the Office Charges — 10000 l. The Tax comes to — — — 300000 l. The Charges — — — — — 130000 l. There will rest in Cash — — 170000 l. Thus then at Twelve Months end the Interest & Charges of the Office will be paid , and there will be 170000 l. in Cash ; out of which may be paid 150000 l. of the Bonds , and keep 20000 l. in Cash , and for the future Pay off Part of the Debt , proportionable every Six Months , keeping still a Cash of 20000 , or 30000 l. more or less , as shall be thought fit . Thus the Debt of 2000000 l. at the Years end , is diminish'd to 1850000 l. and will dwindle away in a few Years , by a Rebate of Interest upon Interest ; and by a small Tax , the Nation will not feel . XXI . Now , in case greater Sums must be given , or a War carry'd on , which may require large Sums , and yearly , so long as a War lasts , then the Taxes must be made proportionable . But still there will be no necessity ever to set any Tax above what will pay double or treble the Interest of the Money given to the Crown : And now , let us see the Advantages that will arise from this Method of giving Money . Benefits arising to the Crown , and to the Nation , by this way of giving Money . I. BY this means the Crown receives the entire Sums of Money , given by the Parliaments ; and the Crown has the Money immediately , without staying till the Taxes come in , or being oblig'd to take up Money , or buy Stores at hard Rates , and paying by uncertain Assignments ; so that , part by the raising and collecting the Taxes , part by taking up Money , and buying Goods on Credit ; This will save very near one Third Part of what is given by the Nation ; besides the great Disappointments our Kings have met with by Delays , and the Nation also ; who expect from the Crown the same thing , as if the Crown had the whole Sums given , and in due time . II. The Crown will buy all Stores , at least , 20 per Cent. cheaper than usually ; for Men will prefer these Bonds before any Assignments , or Money it self ; because these Bonds will increase in their Coffers , and are not lyable to a Postpone . For the Crown may as easily 〈◊〉 back the Money paid out ●● the Exchecquer , as stop what is given out for Money , and made currant by a Law ; besides , these Bonds will be in the Hands and Possession of the People . III. This Currant Credit will do the duty of Gold and Silver ; and is the same thing in all respects , as so much Money , Imported and Distributed , and added to the general Stock of the Nation ; which will increase our Trade proportionably , as the Crown will soon find , by the Increase of the Revenue ; for we have not Seven Millions in Money , to support our Trade , and Consumption ; and by adding Two or more Millions of this currant Credit , we add proportionably to our Trade and Consumption . IV. These Bonds will produce a double Gain to the Nation ; first , by drawing out the Money , which lies dead for want of Security ; secondly , Men will Trade with these Bonds , or draw the Interest , which makes the Bonds daily of more Value , altho' they lie dead in their Coffers . V. Our poorer sort of People may improve their small Talents , without the Expences of Scriveners , Brokers , and the like , who daily make a Prey of them , and often let their Money lye dead , and take not always good Security : But , by this Method , Men may put their Money to a secure Interest , and without Charges , and have their Money still in their own keeping , ready to make a new Advantage by it ; which they cannot do by our usual ways , nor be secured , that they shall have their Money or Interest , when it is due . This Paragraph ought to be well consider'd ; It shews great Advantages . VI. This undeniable Security will bring Bullion from abroad , as Holland , and other Places , where they draw but 4 per Cent. and it will disperse our own Money , which now lyes dead , for want of Security , and make it more free and common amongst us . VII . Our Retailers , into whose Hands paseth the greatest part of our currant Cash , will Change or Buy these Bonds , as soon as they have but 5 or 10 l. in their Shops ; for they let such Sums lie by them , till they have a Stock , either to pay a Debt , or go to Market , which they may as well do with these Bonds ; by which they will gain more in the Interest , than their Share of the Tax will come to ; therefore they 'll pay Taxes with Joy. VIII . These Bonds ( like Money ) will pass thro' five or six Hundred Hands in the Year , every Trade gaining 10 l. per Cent. as they must needs do , or they cannot subsist ; because most Traders pay 6l . per Cent. for the Money they Trade with . Now , I will suppose these Bonds , the one with the other , pass thro' forty Hands only in a Year , every Trader gaining but 5 l. per Cent. then every 100 l. in these Bonds produce 200 l. per Ann. gains to the Nation , as long as they are standing out . If so , then the Nation may well dispense with the Charges of the Office and Interest , since for 2000000 l. given , the Nation will gain 4000000 l. the first Year , little less the second and third Years : Consider , then , the Advantage accrues to the Nation on the whole , and before all the Bonds are paid off . IX . I could say much more on every Paragraph , in this Paper , but am loth to be too tedious ; besides , this Business requires to be discoursed ; and it does not become me to say more , till commanded . Note , This Nation would soon be weary of paying a yearly Tax , to support a Years War ; and it is easier to pay 20 s. a Year , for twenty Years successively , than to pay down 20 l. at once : Now , by this Method , the Taxes will not be felt , altho ' they last many Years ; and , if requir'd , I could name Taxes , that would scarce be felt . Thus far , this may be accounted a Cantore , like that of the States-General . A Clause may be added to the Act , Declaring , That the Office may issue out Bills to any Person , on Lands , Houses , Ground-Rents , Merchants Goods , or any thing that is a good Security , at per Cent. and Redeem the same by Parcels , in equal Sums ; the Merchancs paying Warehouse-Room for Bulky Goods , with Money , or Office-Bills , which must be conceal'd . The Office to be oblig'd to impart no Man's Concerns to any other Person , unless the Party concern'd desire it . By this ; Men will be free from the Charges of Procuration , and Prolongation-Money ; and , by redeeming by Parcels , it will be more easie ; and a great Help to the Borrowers . Now , we need not fear too many Bills will be standing out ; because , if not necessary , they will not be issued out ; and if necessary , the Necessitous ought to be helped ; and , as fast as they Redeem , so much of the Office-Bonds will be cancell'd . Note , This Addition makes this Office different from a Cantore . And the Act may further declare , That a distinct Appartment , in this Office , shall be fitted ; where all Merchants , and Others , may lodge their Cash , as in the Public , or Private Banks ; Provision being made , by the Act , for the Security of such as lodge their Cash there , against any Objections of our Criticks . And this being under the Security of the Government , Men will not be lyable to such Losses , as has been by Private Banks . Credit , thus Establish'd , will of necessity make Money more Plentiful , and Common amongst us . As it is not my Part , to write how much must be raised , or advise how ; I shall on'y set down some Things , and the Sums Blank .   Millions . Suppose the Debts of the Nation , and Anticipations , that can be paid off , amount to — — — — —   To carry on the War the Year 97. — — — — — The Interest , and Charge , comes to — — —   Then the Taxes must be only double the Interest , — — — Towards this : First , The Excise , if set on Malt , it would be easily Collected , and with a third part of the Charges the now Excise is Collected , — — — —   The Customs , according to the old Book of Rates , —   The Window-Tax , as it now is , — — —   The Land-Tax , if the Excise continue on Beer , — —     Millions . A Tax on Course Cloth — — — A little on each On Fine Cloth , — — On Stuffs , — — On Silks and Velvets , — The Salt-Tax — — — The Paper-Tax , — — — — These Taxes , or any other that shall be thought fit , must amount to so much as will pay what is necessary . OBJECTIONS Answer'd . Obj. I. THIS is a new Project ; and England has long been a Glorious Na●●on , without this Proposal ; and new Methods will not be easie , Answ. This Objector should then wear a Ruff and Trowses , in lieu of Rowling-Breeches , and a Cravat , which his Great Grandfather never wore ; and , that we have now alter'd our Habit , is , because the Habit we now wear , is easier than formerly were worn : Nay , a Government is alterable , when not easie ; and alter'd for the Better . Obj. II. Some think this Credit will lessen the Value of Houses and Lands . Answ. These Objectors allow then the Credit to be good , and better than Houses or Lands . Let these Men make the Titles of their Lands and Houses to be Clear and Good , then this Credit will do them no harm , but the contrary ; if we have more Trade and Credit , Men will become more able to buy Lands and Houses , which are always preferrable . Holland has vast Sums standing out in Obligations , or Bonds , transferrable , but Currant ; yet so valuable , that I have sold them in London , at 6¼ per Cent. and this does not hinder Lands to be at 40 and 50 Years purchase : And it was this kind of Credit , or Obligations , that raised that State , and supported it . Obj. III. How secure us against the Misfortune of the Bankers , or a Strong Hand ? Answ. The Bankers Money was in the Exchecquer ; These Bonds will be in the Hands and Possession of the People : And I have already said , the Crown may as easily call back the Money , paid out of the Exchecquer , as stop what is paid out for Money , and made currant by a Law. Secondly , The Office will have little in it , worth seizing ; and we may as well fear the Plundering of Lombard-street , or the City . Obj. IV. We shall have nothing but Paper-Money . Answ. If it does the same Duty , it is as good . By adding this Currant Credit , we do not Banish Gold nor Silver , but make it more Free and Common amongst us ; and Men will rather hoard up these Bonds than Money , because this Species increaseth in their Coffers . Obj. V. My own Objection is , That Men will hoard up these Bond● , as the Best and Securest-Treasure , and so spoil my Design of making them run in Trade . But , if they do , they must purchase them with Money or Goods ; which then will turn to the same Account . If more Objections arise , They shall be readily Answer'd by William Killigrew . 
A56544	----	Proposals humbly offered to the consideration of the Parliament, to repair the loss by three millions of clipp'd money without any charge to the nation for fifteen years, viz. J. P. 1695 Approx. 7 KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2009-10 (EEBO-TCP Phase 1). A56544 Wing P65 ESTC R217865 99829508 99829508 33948 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A56544) Transcribed from: (Early English Books Online ; image set 33948) Images scanned from microfilm: (Early English books, 1641-1700 ; 1995:15) Proposals humbly offered to the consideration of the Parliament, to repair the loss by three millions of clipp'd money without any charge to the nation for fifteen years, viz. J. P. T. B. aut 1 sheet ([1] p.) s.n., [London? : 1695] Imprint from Wing. Signed at end: J.P. T.B. Reproduction of the original in the Baker Library, Graduate School of Business Administration, Harvard University Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng England and Wales. -- Parliament -- Early works to 1800. Finance -- Great Britain -- Early works to 1800. Great Britain -- History -- 1689-1714 -- Early works to 1800. 2008-04 TCP Assigned for keying and markup 2008-09 SPi Global Keyed and coded from ProQuest page images 2008-11 Mona Logarbo Sampled and proofread 2008-11 Mona Logarbo Text and markup reviewed and edited 2009-02 pfs Batch review (QC) and XML conversion PROPOSALS Humbly offered to the Consideration of the Parliament , To repair the Loss by Three Millions of Clipp'd Money , without any charge to the Nation for Fifteen Years , viz. I. THERE is in the Million-Lottery Adventure 97500 Blank Tickets , and each Ticket entitles the Bearer to 1 l. a Year for fifteen Years , which must produce 15 l. in fifteen Years . II. It is humbly proposed , That a new Act may pass for the Lottery Fund to be continued five Years longer , which will be no charge till the fifteen Years are expired . III. That the Owner of each Blank Ticket bringing his Blank to an Office appointed for that purpose , and with it 11 l. in Clipp'd Money , the Blank so brought in to be fill'd up and registred , the Clipp'd Money to be melted down at the Mint , and Coin'd into Mill'd Money ; whoever brings a Prize of 10 l. per Annum , may have it valued equal to ten Blanks , and so in proportion for the highest Prize in the Million Lottery . IV. The Person that brings in the Blank Ticket with 11 l. in Clipp'd Money , shall at the same time receive a Bill for 20 l. to this effect . V. To take off the inconveniency of Clipp'd and Counterfeit Money ; it is enacted , That this Bill shall pass , and be accounted as 20 l. Sterling in all Payments , as well in publick Receipts , as otherwise , under the Penalty of forfeiting — by any Person that shall refuse the same . Foreign Bills only excepted . VI. That whoever is possessed of any of these 20 l. Bills at Michaelmas 1696. may send the same to the said Office , and receive 1 l. in Money , and a new Bill for 19 l. which Bill must pass in payment till Michaelmas 1697. and then receive 1 l. more , and exchange his Bill of 19 l. for a new Bill of 18 l. and so successively till the twenty Years are expired , by which means every one will receive his full value in Cash for each Bill . VII . By this means more than one Million and a half of Clipp'd Money will come into the Mint , without any charge to the Nation , or loss to any one Person ; for the Person that brings in the Clipp'd Money will have a Bill which is as good as Money , and the Government will be at no charge to pay the Bill , because the 1 l. that is paid Annually upon each Bill will be raised out of the Fund that pays the Blank Tickets and Prizes , so that the Million and half of Clipp'd Money will enable the Government to Coin Mill'd Money , and be ready with that to Change a Million and half more of Clipp'd Money , and give good Money for it , which will make this Proposal good , of repairing the loss by three Millions of Clipp'd Money . VIII . When three Millions of Clipp'd Money is melted down , it will much lessen the Quantity , and is hoped will take it all away ; but if more remains , this Proposal may be enlarged to take off the Remainder without any further charge for twenty Years . IX . That a short Day be prefixt to forbid passing Clipp'd Money in payment , and whoever does not bring his Clipp'd Money to be changed by the Day limited , shall lose the benefit of having it changed , and prosecuted as a Clipper if he or she offers any in payment ; by which means the Broad Money may venture safely abroad without fear of being Clipp'd , and will be useful , which now is laid up and becomes useless , both to the Owner and Nation . X. But if all Clipp'd Money be call'd in , and nothing left to supply Trade , all Commerce must cease till new Money can be Coin'd , therefore it will be necessary that something equivalent to Money be ordered to supply the place thereof , which these Bills here proposed will effectually do , if this Honourable House shall think fit by any Act to make them pass . XI . If these Bills shall be thought too large , they may for the conveniency of payment be made into 10 and 5 l. Bills ; and if found inconvenient , when the War is ended , may be paid off by such a Tax as the Parliament shall think fit , and then the Fund may cease . XII . To prevent the Counterfeiting these Bills , and give all Persons assurance of their being Authentick and True , such Methods will further be offered to this Honourable House , or any Committee they shall think fit to appoint , as will it's hoped Answer all Objections in that particular . Object . I. It may be objected that this Bill ought not to be forced in payment . Answ . Neither ought Clipp'd Money ; and altho by the Law no one is compell'd to take it , nevertheless Custom and Necessity has made it currant Payment ; therefore of two Evils it is safest to chuse the least . Now it is evident , the Bills are the least , because they do lessen every Year by Annual Payments , but the Clipp'd and Counterfeit Money daily encreases upon us , and has neither a present nor relative Value , which the Bills have , being secured upon a good Fund . Object . II. Great number of Blanks and Prizes are bought up , and made a Fund for the Million Bank , and not to be had . Answ . The Blanks are not more worth than 6 l. 18 s. and the Prizes than seven Years purchase , and no doubt but profit will bring them out where-ever they are ; for by this Proposal there will be near 30 per Cent. advantage , besides the benefit of getting clear of the Clipp'd Money . Object . III. Some Persons have Tickets , but have not Money to pay in upon them . Answ . Those that have not Money , may be supplied by others that have no Tickets ; so that they will be mutually Serviceable to each other ; and whoever has more Tickets than he shall make use of himself , making it publick he need not doubt a Chapman . All which is humbly submitted to the Consideration of this Honourable House . By J. P. T. B. 
A44642	----	An account of the state of His Majesties revenue, as it was left by the Earl of Danby at Lady-day, 1679 in a letter to a friend : occasioned by his lordships Answer to An examination of the state of the case of the Earl of Danby / by Sir Robert Howard. Howard, Robert, Sir, 1626-1698. 1681 Approx. 51 KB of XML-encoded text transcribed from 13 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2005-12 (EEBO-TCP Phase 1). A44642 Wing H2990 ESTC R15504 11849295 ocm 11849295 49886 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A44642) Transcribed from: (Early English Books Online ; image set 49886) Images scanned from microfilm: (Early English books, 1641-1700 ; 498:3) An account of the state of His Majesties revenue, as it was left by the Earl of Danby at Lady-day, 1679 in a letter to a friend : occasioned by his lordships Answer to An examination of the state of the case of the Earl of Danby / by Sir Robert Howard. Howard, Robert, Sir, 1626-1698. [2], 22 p. Printed for Thomas Fox, London : 1681. Reproduction of original in Huntington Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. EEBO-TCP is a partnership between the Universities of Michigan and Oxford and the publisher ProQuest to create accurately transcribed and encoded texts based on the image sets published by ProQuest via their Early English Books Online (EEBO) database (http://eebo.chadwyck.com). The general aim of EEBO-TCP is to encode one copy (usually the first edition) of every monographic English-language title published between 1473 and 1700 available in EEBO. EEBO-TCP aimed to produce large quantities of textual data within the usual project restraints of time and funding, and therefore chose to create diplomatic transcriptions (as opposed to critical editions) with light-touch, mainly structural encoding based on the Text Encoding Initiative (http://www.tei-c.org). The EEBO-TCP project was divided into two phases. The 25,363 texts created during Phase 1 of the project have been released into the public domain as of 1 January 2015. Anyone can now take and use these texts for their own purposes, but we respectfully request that due credit and attribution is given to their original source. Users should be aware of the process of creating the TCP texts, and therefore of any assumptions that can be made about the data. Text selection was based on the New Cambridge Bibliography of English Literature (NCBEL). If an author (or for an anonymous work, the title) appears in NCBEL, then their works are eligible for inclusion. Selection was intended to range over a wide variety of subject areas, to reflect the true nature of the print record of the period. In general, first editions of a works in English were prioritized, although there are a number of works in other languages, notably Latin and Welsh, included and sometimes a second or later edition of a work was chosen if there was a compelling reason to do so. Image sets were sent to external keying companies for transcription and basic encoding. Quality assurance was then carried out by editorial teams in Oxford and Michigan. 5% (or 5 pages, whichever is the greater) of each text was proofread for accuracy and those which did not meet QA standards were returned to the keyers to be redone. After proofreading, the encoding was enhanced and/or corrected and characters marked as illegible were corrected where possible up to a limit of 100 instances per text. Any remaining illegibles were encoded as <gap>s. Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Leeds, Thomas Osborne, -- Duke of, 1631-1712. -- Answer of the Right Honourable the Earl of Danby to a late pamphlet, entituled, An examination of the Impartial case of the Earl of Danby. Finance -- England -- History. 2005-03 TCP Assigned for keying and markup 2005-06 SPi Global Keyed and coded from ProQuest page images 2005-07 Jonathan Blaney Sampled and proofread 2005-07 Jonathan Blaney Text and markup reviewed and edited 2005-10 pfs Batch review (QC) and XML conversion AN ACCOUNT OF THE STATE OF His Majesties Revenue , As it was left by the Earl of DANBY At Lady-day , 1679. In a LETTER to a FRIEND . Occasioned by his Lordships ANSWER TO An Examination of the State of the CASE of the Earl of DANBY . By the Honourable Sir ROBERT HOWARD . LONDON : Printed for Thomas Fox , and are to be Sold at his Shop , at the Sign of the Angel in Westminster-hall . 1681. SIR , T Is now some Months since I received your Commands , occasioned by my Lord of Danby's Answer to an Examination of a Book entituled , The state of my Lord Danby's Case , of which you desired me to give you as clear Satisfaction as I could , of the matter of Fact , especially relating to the Difference of the Accompt , How the King's Revenue was left charg'd Lady-day 79 ; which as you justly say , depends on the large Deductions set down by my Lord of Danby , the Charge by Tallies being seemingly agreed to on both sides . I was not only willing to obey your Commands , but also inclined of my self , to give the Publick some Account of this , especially finding my Name often used by his Lordship ; but how ingenuously sometimes , I leave others to judge by the following Account . I had before now finished this , but the Sickness of my nearest Relations , and my long continuance at Tunbridge-Wells this Summer , hindred me from applying my self sooner to what I resolved upon . Besides , I could not till now obtain Certificates , from such places , as were to be the sure Proofs of what I should assert ; being careful to set down nothing , but what I had Vouched from the Office or Records , to which it related ; not desiring to meddle with Politique Disputes , nor to endeavour to support Reason or Matter of Fact with undecent Expressions . You must not therefore , Sir , expect any thing of Argument , nor any thing in a digested Method ; but as I meet the Particulars , to my best knowledge I will set down the Matter of Fact. — The first thing that occurs , is about the 2707 l. 5 s. 11 d. short upon the Lord Danby's Accompt , when he was Treasurer of the Navy ( Page 2. ) the Sum is mistaken 40 l. perhaps false Printed . The Matter of Fact is , His Lordship left the Treasurer of the Navy's Place in 73. and the Sum of 2747 l. 5 s. 11 d. was forgiven him by a Privy-Seal , bearing date the 21. of February , 1676. as the Examiner says ; but whether 't was used by my Lord , or kept in Money by him for so long a time , his Lordship best knows . The next thing is about the 18 Months Tax , which was payable in six Quarterly Payments . The Matter of Fact is thus . The first Quarter of that Tax was charged by the Lord Clifford with the Sum of 200000 l. — The Second Quarter was charged with 199336 l. — And Signed , Clifford . The Third Quarter was charged with 201000 l. — And Signed , Osborne . And are so entred in the Receipt of the Exchequer . I had then the Honour to be Secretary to Sir Thomas Osborne , who was then Lord Treasurer , as it must needs follow when he Signed this List of the Third Quarter , all which Original Lists are now in my hands . The next thing is in the Sum , which the last Three Quarters of this Tax brought clear into the Exchequer , all Charges deducted , which his Lordship affirms to be but 565498 l. 13 s. 10 d. ½ . The Matter of Fact is thus . By the Records of the Exchequer there appears to have been paid upon those Three Quarters , to the day that my Lord Danby resigned the Treasurers Staff , the Sum of 584718 l. 7. s. 5 d. so that the mistake herein is 19219 l. 13 s. 6 d. ½ . Besides , there was paid in the Name of Arrears , 7378 l. 3 s. 5 d. the one half of which may be presum'd to be apply'd to this part of the Tax , and then the mistake will appear to be 22908 l. 15 s. 3 d. and this falls but little short of the Computation of the last Three Quarters in the Printed Copy by the Examiner of the Condition of the Revenue , how it was left by my Lord Clifford , in which Paper 't is said , not expresly , but about 600000 l. And for the Sum of 21163 l. 6 s. 8 d. which my Lord Danby says was charg'd on the Fourth Quarter of that Tax by my Lord Clifford , I know nothing of it ; nor is it probable it should be so , since the disposition of the Third Quarter was Signed by him , as I have shewed before . The next thing is about the Customs , and the Examiners words quoted , where he saies it will appear , The Customes never yielded so much as in this Lords days . The Matter of Fact is true , and I believe the Customs at that time were Managed by most Excellent Commissioners ; and that which did yet contribute more to it , was occasioned by the Wars abroad ; insomuch , that the English were then the Carriers to most parts of the World. The next thing that occurs , is , That my Lord Danby says , ( Page 2. ) the Examiner charges him , With hindring Money from coming into the Exchequer , which was lent on the Fifth part of the Excise , and diverting it to other uses ; which my Lord says , is Notoriously False . In this place , it seems , that rather than my Lord Danby would loose the advantage of so decent an Expression , of calling something notoriously false , he would Transpose some words , leave out others , and slip over all the matter of Fact , to make it like the Expression . I find the words in the Examiner are these , ( Page 7. line 30. ) For when Money was lent on the Credit of the Fifth part of Excise , he hindred it from coming in ( which was often complained of publickly at the Exchequer by the Lenders of the Money ) and diverted it to other uses . The words of the Examiner that are here Transpos'd , is perhaps to try to make it imply , that the Examiner does charge my Lord of Danby with hindring Money to be lent on the Fifth part of Excise ; whereas 't is plain enough , it was for hindring the Money which was lent , to be repaid , according to the Act of Parliament . The words left out are a whole Parenthesis , viz. ( which was often complain'd of publickly at the Exchequer by the Lenders of the Money . ) If this had been in , it would have seem'd strange that the Lenders of the Money should complain they were hindred to Lend ; and Money not Lent could not be diverted to other uses . The Matter of Fact that is slipt over , is set down by the Examiner , Page 6 , line 29. where speaking of the Fifth part of the Excise , his words are these , and can hardly be plainer express'd : For the full 200000 l. was lent in his time , and at his going out on the 25 th of March 1679 , 83400 l. was left to pay , which since was paid by these present Lords Commissioners . This 200000 l. was Lent in his time , by Richard Kent and Charles Duncombe Esquires , and there was left to pay at the time when he resigned the Treasurers Staff , as appears by the Records of the Exchequer , 83400 l. which was since repaid by these present Lords Commissioners , and is discharg'd in the Exchequer . This Sum was part of the Charge left on the Revenue , which the Examiner did not include ; for the Accompt as it is set down by him , was onely of the Anticipations on the Revenue by Tally , and re-payment of Advance-Money : but I shall take notice of this , together with other more considerable Sums , in another place , when I come to consider of the Deductions my Lord Danby makes from the Charge . 'T is likewise very true , that Mr. Charles Duncombe did often complain to me at the Exchequer , That my Lord Danby did hinder and divert the Money from being paid into the Exchequer , according as the Act of Parliament did direct ; and lest , Sir , you may doubt , whether if the Fifth part of the Excise had been duely paid in , it would have been sufficient to have repaid the 200000 l. the Matter of Fact stands thus . Compute the Excise at 580000 l. per Annum , which it certainly yielded , a fifth part of which , from the 24th of June 1677 , ( at which time the Act commenced ) to the 25th of March 79. being one year and three quarters , amounts to 203000 l. which is 3000 l. more than the Principal money , towards payment of Interest ; which in the whole was but 11920 l. 10 s. 4 d. and would yet have been much less , had the fifth part been duely paid into the Exchequer to have discharg'd the Loans . As for the Moneys said to be paid by private Letters and Vouchers , pag. 2. the matter of fact is thus . There must either be a Great Seal or a Privie Seal for the issuing of any Money in the Exchequer , tho' notwithstanding this General Discharge there : many considerable Sums so issued , particularly those in the name of Secret Service , are afterwards distributed to particular persons , oft-times by Private Letters or Directions ; and it yet more clearly appears by what hath been said in the foregoing Paragraph , that the 83400 l. of the fifth part of Excise so diverted from coming in , was applied by this Lord to other Vses , in the assistance of his Management , &c. by his particular Directions , and was allowed to the Commissioners of Excise upon their Accompts : For it cannot be made appear , that any Great Seal , or Privie Seal ever directed specially , any of this Money from the use it was appropriated to by Act of Parliament . And as for Talleys of Anticipation , at what time the Sums so Charg'd are paid , or when the Interest is to Commence , the Exchequer has no Cognizance of it ; and although the Accompt is made up by a Sworn Auditor , yet his Computation of Interest must arise from Private Vouchers , and the Lord Treasurer and Chancellor of the Exchequer must allow the Accompt , upon the Credit of Private Vouchers : for they can have no Publike ones from the Exchequer , there being no Record of any Real Issue to vouch there ; and perhaps these present Lords Commissioners of the Treasury , having search'd into the nature of Talleys of Anticipation , and finding that by that way of disposing of Money , they never can have any Accompt , but what must be made up by Private Credit , they endeavour to bring all things to be Govern'd by the Records of the Exchequer : for what Moneys they are forced to borrow , they borrow upon Loans made in the Exchequer ; and Mr. Richard Kent and Mr. Charles Duncombe , who have lent divers great Sums , have paid it into the Receipt of the Exchequer , where the Record will not only vouch the Receipt , but the Issue ; and of all Moneys so lent , the Accompt of Interest is made up by the Records ; and no Combination of Private persons in this Method can defraud the King. The next thing is about the Poll-Bill , and the Eastland-Merchants , pag. 3. where my Lord Danby says , That Bill brought into the Exchequer but 256223 l. 2 s. 4 d. The Matter of Fact , as appears by the Records of the Exchequer , is thus . There was paid upon that Bill to the 25th of March 79. the Sum of 249404 l. 4 s. 8 d. and no more : but the Loans made upon the Credit of that Act amounted to 252900 l. which Sum my Lord Danby had the whole disposition of ; and is what the Examiner charges him with . The Eastland-Merchants were promised ready Money for their Goods , yet were wholly left unsatisfied ; and these present Lords of the Treasury have upon their Accompts since stated , made them Assignments upon the Hearth-Duty to the Sum of 186585 l. 18 s. 9 d. and have actually performed what this Lord can onely say for his best excuse that he intended to have done . And this is yet a farther Charge left on the Revenue , which the Examiner did not include . By what has been said in the foregoing Paragraph , it appears , the Weekly Certificates in the Exchequer cannot be Proofs for Moneys dispos'd by Talleys of Anticipation : but my Lord Danby has been pleased to say the Cause is , That he has had out of the Exchequer some of those Certificates which have not been true , and that to the Mistake of Ten or Twelve thousand pounds in one week . I cannot imagine what my Lord means by this ; for I suppose , had it been really so , I have not had so great a share in his Lordships favour , but that he would have made it appear in a more proper place , if he could have made good any such thing as is pretended . The next thing is about the Argument concerning an Accompt of the Pells from Easter 73. to March 79. amounting to Eight Millions , &c. which my Lord Danby ( pag. 4. ) has made to be Ten Millions and more . The repetition of the former Sum I imagine is false Printed in the Examiner . I shall not meddle with their Arguments , but agree with my Lord of Danby , that the 200000 l. on the fifth part of the Excise is twice reckon'd , it being included in the Act for disbanding the Army : And I do also believe some part of that Tax was not paid in his time ; but not finding any Inferences to be drawn from it , I have not given my self the trouble to Examine it : Since if the Ordinary Revenue , together with the Accidental Taxes , have not amounted to above Ten Millions , as this Lord alleadges has been Publickly Accompted for at the Pells in that time ; it will necessarily follow , that the Remainder must be an Anticipation upon the Revenue , which will be best determined by the Charge he left upon it Lady day 79. in the Matter of Fact of which much depends ; and I will be as Clear as I can when I come to it . The next thing is about Secret Service . My Lord Danby is pleased to say , pag. 5. The just Sum paid in three years Compleat was 252467 l. But by the Records of the Exchequer I finde paid in three years , viz. from Lady day 76. to Lady day 79. the Sum of 294916 l. 11 s. 4 d. whereof in Mr. Berty's name indeed 252467 l. 10 s. 5 d. besides the further Sum of 14640 l. as should be privately directed to be distributed in New-years-gifts by Mr. Berty's hands ; which Sum in the half years Accompt of the Exchequer , is placed under the Head of Secret Service , there being no other proper Head for it , according to the Methods of the Exchequer . This Sum being then added to the former , will make the Total of Secret Service for those Three years to amount to 309556 l. 11 s. 4 d. As to the payment of my Lord Treasurers Pension of 8000 l. per annum , 't was never included in the Accompts of Secret Service for those Three years , which I suppose the Examiner must mean : for it was alter'd by a Privie Seal bearing date the 19th of July 1676. to express the particular Service of that Sum ; the first Payment to commence from Christmas 75. But neither when the Service was expressed , as well as before , did my Lord Treasurer ever pay Fees for his Salary , or the Chancellor of the Exchequer pay any for his , as the Examiner rightly affirms . The next thing is in the State of the Revenue left by my Lord Clifford . The Matter of Fact is thus . My Lord Clifford made a State of the Revenue the 10th day of June 1673. as follows , viz. The Customs were Charg'd with about 153000 l. for the Navie , Ordnance , &c. and I hope this last Fleet will go neer to clear it . Almost two thirds of the Rents of the Excise for the Quarter due at Michaelmas next , is charg'd for the Forces , Cofferer , &c. All the Forces are provided for , until the 25 of July , and the last new additional Levies till Michaelmas next . The Houshold is provided for until Lady day last . The Treasurer of the Chamber until Christmas last , except the Old Arrear in the late Lord Treasurers time . The Office of the Works until Lady day last . The Great Wardrobe hath been supply'd from time to time , as their most pressing Occasions have required . Tanger is Weekly provided for on the Customs . The Ordnance hath had as much yearly in proportion as in the former Dutch War : but by reason that that Office hath not kept the Accompts , I cannot justly say how that Office stands . The Victualler is paid within a small matter , except the last Agreement for the Land-men . The first three Quarters of the Tax given by Parliament are assigned ; the three last are untouch'd ; which amount to about 600000 l. There will be in October and November for payment of the Fleet and Yards , in ready money , these three following Sums . From the Advance of the Excise 150000 l. From the French Money 112500 l. Upon the three Quarters of the Subsidy 080000 l. The Chimney-money and Law-Bill are left free to be charg'd as there shall be occasion . The Original of this Paper was drawn by Sir Philip Lloyd , by my Lord Clifford's directions , of which I have had a Copie by me ever since that time . I cannot say whose Hand it is directly ; but I can affirm this to be a true Copie of it ; and it was so acknowledg'd by Sir Philip Lloyd , to a Gentleman that I sent to shew it him ; but denied that Paper to be his hand . I did after this , about the 21 of June , make some further Examinations for the Service of my Lord Danby , then Lord Treasurer ; and did presume , the increase of Charge on the Customes by that time was 92905 l. 17 s. 8 d. which if reckon'd together with the former Charge , makes up the sum of 245905 l. 17 s. 8 d. But in the same Exanation I gave my Lord , the Excise agreed very neer with the sum in the Copie before recited . I did also present the Hearth-duty to be Charg'd with 22318 l. 11 s. 0 d. but withal explain'd it in these words . This Charge may be paid by the Arrears of Hearth-money due at Lady day last ; and at Michaelmas there will be half a year due to the King , which amounts to 67500 l. which at Michaelmas will begin to be paid by about 2500 l. per week ; so that the Variation herein will amount but to about 93000 l. in case my Lord Danby is pleased to give my Calculation the greatest Credit . I do further acknowledge , in that Paper I presented my Opinion , that the Customes would not have paid its Charge at the Christmas following , probably by 40000 l. but it seems the good management of the Customs , and the fulness of Trade , gave Mr. Mounteney occasion to write this Letter to me , which I have now by me . SIR , I Have a List sign'd by the late Lord Treasurer Clifford , and confirm'd by the present Lord Treasurer ; the said List being wholly paid , onely 8400 l. payable to the Treasurer of the Navie . I do hear there are several Talleys struck on the Customs , but I know not of what value , nor to whom payable . I understand the persons have made their applications to my Lord Treasurer , and that my Lord intends to make a new List : which is all I can say to this affair . Sir , Your very humble servant , Ri : Mounteney . Custom-house Lond. 10 Novemb. 73. And it is very true I was then Auditor of the Receipt , and not Secretary to his Lordship at that time . In the same Paper before mentioned , I likewise acknowledge to have given a short State of the Revenue , and the Expences for that Year ; wherein at a General Guess I calculated by way of Debtor and Creditor , that the Expences would exceed the Ordinary Income by One million one hundred sixty three thousand four hundred pounds . I could not but admire at the ingenious use my Lord Danby makes of what I then presented : for I believe no unprejudic'd man could imagine , that I should give such a State , as that so great a Revenue as the King then had , should not supply the Ordinary Charges of the Government by above a Million in one year . But my Lord Danby was pleas'd to pick out of the Paper onely such words as he thought might be useful to his purpose : for had he exprest the true Cause I gave of such a State , ( which was the time of the War ) the matter had been explain'd ; the Expence of the War being stated by the Commissioners of the Navie to amount in one year to the sum of 1400000 l. And in the same Paper I also added in the very next words another Calculation for the Ensuing year 74. where my Lord Danby might have likewise found , if he had pleased , these words . The State for the ensuing year 74 , if i● peace , will be Debtor by Expence , Creditor by Income , 1167400. 1386500. To Balance , 219100.   1386500.   So that by a like Calculation , in times of Peace the yearly Income would exceed the Expence by Two hundred and nineteen thousand one hundred pounds . I will not make any further Reflections on these things , but keep onely to my Rule of Matter of Fact. The last thing that occurs , is the State of the Revenue how it was left Charg'd by my Lord of Danby at Lady day 79. 'T is set down by the Examiner , and not denied by my Lord of Danby ( pag. 10. ) to amount to the sum of 1485570 l. 16 s. 4 d. excepting one Talley of Mr. Montague's of 2443 l. which he says was paid in his time . From this Charge my Lord Danby deducts these following Particulars , viz. For the Advancement on the Excise , 270000 l. For the Advance on the Hearth-duty , 150000 l. To be discharg'd by Orders to the Commissioners of Excise on the first Act for Disbanding , 101000 l. More by Talleys on the surplus of the Excise for 30000 l. and 99000 l. being no charge on the Rent unless the surplus fail , 12900 l. More by Talleys , which were to pay the Forces from Lady day 1679 forwards to the instant July , which was 97 days beyond my time , 059588 l. More by Talleys on the Customs , made use of to carry on the service of the Navie and Ordnance beyond the said Lady day 79 , l. More by Talleys struck for Pensions upon the two last Quarters of the Excise , viz. Christmas 78. and Lady day 79. for payment of which , Money was left in the hands of the Commissioners of Excise , about 033000 l. More by Talleys on the Customs restored for Tynne deposited in Mr. Kent's hands , 015000 l. More by Talleys on the Customs , accounted by the Examiner to be unpaid to Mr. Montague , which were paid in my time , 002342 l. Total , 794●30 l. Thus have I set down the Charge as it is made up by the Examiner , as also particularly the deductions out of that Charge , as they are set down by my Lord Danby . The Examiners Charge is 1485570 l. 16 s. 4 d. My Lord Danby ' s deductions are 794930 l. So that by that Lord's Computation , the debt● on the Revenue Lady day 79. amounted to no more than 690640 l. 16 s. 4 d. The Examination of these particulars must determine the true State of the Charge left on the Kings Revenue ; which I shall endeavour to do with as much Candour and Clearness as lies in my power . But before I proceed to take the Particulars in their Order , I must take notice of one small Mistake of my Lord Danby's ; for he reckons the Advance on the Excise 20000 l. more than really it was , which increases his Deductions : for the Advance was but 250000 l. and is so set down by the Examiner . But upon the Farm of the Excise let the 13 of March 1678 / 9 , which was a little before my Lord Danby left the Staff , the Advance indeed was 270000 l. of which Sum his Lordship onely dispos'd of 58352 l. 9 s. 6 d. which being charg'd by Tally , was included by the Examiner , in the general Account of the charge on the Excise by Tallies . But this Mistake is not of much moment , since I presume the Deduction it self is by no means allowable . I shall take the particulars in the same order , as they are set down by my Lord Danby . The first two are of the same nature , viz. the 270000 l. advanced on the Excise , and the 150000 l. advanced on the Hearth-duty . I cannot imagine why these should not be lookt upon as so much of the Debt left upon the Revenue : it seems as if it were implied , that it was never to be paid again ; but his Lordship's reason for his opinion is , That those Sums are a Security only for the Rent of those great Branches ; which must always be done , if his Majesty were in the most plentiful Condition of his Exchequer . In Answer to this , I would in the first place ask his Lordship , What Security is now given for the Rent of the Customes , and what prejudice it would be to His Majesties Revenue , if these two branches of the Excise and Hearth-Duty , were managed as the Customes are , and not Farm'd ; and then there were no necessity of such a Security ( as his Lordship calls it ) for the payment of the Rent . As to my own opinion , I cannot but think , that these two Branches , managed as the Customs are , might be improved above what they now yield , as well as the Customs now exceed what ever they made to the King , when they were Farm'd ; and whilst they also had an Anticipation upon them , by way of Security : And perhaps if this Advance-Money ( that my Lord Danby would not have reckon'd as part of the Debt ) were not in the way , they might at this time be managed in the like manner with the Customs , with equal advantage to the King's affairs , and prevent many Frauds and Bargains , that are this way sheltered . And upon these several accounts this Advance-Money may very properly be called part of the Debt : First , Because that until it is cleared , his Majesty is not at liberty to manage those two Branches to the best value . Secondly , The Matter of Fact determines the Argument ; for every Quarter the Sum of 22000 l. is really paid to those that advanced upon the Excise , and 17500 l. every half year to the Farmers that advanced upon the Hearth-duty ; which certainly makes those two Branches , the one now Let for 460000 l. per annum , and the other for 160000 l. per annum so much less worth to the King every year as 88000 l. and 35000 l. amounts to : so that I presume I may justly conclude , this Advance-money must of necessity be accounted as a Debt left upon the Revenue ; unless my Lord of Danby can demonstrate , that while those Sums are repaying the Advance , to those that lent the Money , the King does not receive the less for it . The next Deduction , according to my Lord Danby ' s placing it , is 101000 l. that was to be discharg'd by Orders to the Commissioners of Excise , on the first Act for Disbanding . This 101000 l. and the 99000 l. mentioned in the next Deduction , amounting to the Sum of 200000 l. was double Security in the hands of Sir John James and Partners , to enable them to carry on the Payments that should be charg'd on the Excise : and in this perplext Condition the present Lords Commissioners of the Treasury found it at Lady day 79. The 99000 l. will receive its proper answer in the next Paragraph ; and this 101000 l. to be discharg'd by Orders , did not come in , till some Months after , by the Tax on which it was assigned : nor was this Sum comprehended in the Examiners Charge , and therefoer ought not to be deducted out of it ; so that without either Malice or Mistake , the Charge on the Revenue was as it is set down by the Examiner , ( notwithstanding this pretence ) among others , of a deduction . The next Deduction claim'd by my Lord of Danby is 129000 l. on the surplus of the Excise ; which my Lord would have to be no Charge on the Revenue , unless the surplus fail , which is not likely . These are my Lord's words , but not intelligible by me , while I take the Surplus and the Rent both , to be part of the Kings Revenue ; so that in my opinion , if the Surplus was charg'd with this Sum , the Revenue was also : and sure my Lord of Danby was of the same opinion , a little before his going out ; for he had almost compleated a Bargain , to part with the King's title to the Surplus , for a considerable Sum of Money : and I am sure it hath been esteemed by the present Lords Commissioners as a part of the Revenue , and so considerable a part , as hath sometimes come in very seasonably , for many important occasions . But to make this yet more clear , by matter of fact , 't will be proper to shew the Kings title to the Surplus , by this short Account , viz. The Excise formerly let in absolute Farm , was now granted to Mr. George Dashwood and others for three years , under a certain Rent , with several Limitations and Restrictions for the Kings advantage , viz. 1. The King had a Power to make Orders for the better regulating the Farmers and their Officers . 2. The Commissioners were obliged to keep fair Books of Accompts , of all the Duties of Excise by them received , and upon Oath to give up such Books . 3. A certain Sum was consented to , for the yearly Salaries and Allowances to the Sub-collectors and other inferiour Officers ; and in case less than that Sum should be expended , the overplus was to be accounted and paid to the King. 4. That at the determination of the said Term , in case the whole Duty of Excise made more than the reserved Rent payable by the Patent ; they the said George Dashwood and others were to have a further allowance for their Care of Management , proportionable to the overplus , and the residue of the said overplus to be paid to the Commissioners of Excise for His Majesties use . These Conditions perhaps had two Respects ; one , that the Excise was better paid when Collected for the King , than to absolute Farmers ; the other , to try to Improve it . But however , it appears clearly by the whole , that the King had as much right to the Surplus , as the Real Rent : and since all Profits arising by the Duty of Excise , are alike the Kings Money and Revenue , To allow this a Deduction , were likewise to agree , that the Talleys so struck upon the Surplus , were never to be paid again . I may therefore presume to affirm confidently , that whatever , either of the Rent or Surplus , had any Charge upon it , may very justly be esteemed as so much Debt left on the Revenue . And thus I hope 't is evident , that of these three first Particulars , ( by much the most considerable part of the Deductions ) there is no Colour for allowing the least tittle of them . The next deduction claim'd by my Lord Danby is the sum of 59588 l. which was charg'd by Talleys to pay the Forces from Lady day 79. forwards to the first of July , being 97 days beyond my Lord Danby ' s time . This Particular I have Examined with the Pay-master of the Forces , and 't is acknowledged by him to be very true . This Deduction therefore ought to be allowed ; and when I sum up the whole , I will accordingly substract it . The next Deduction is for Talleys on the Customs made use of to carry on the Service of the Navie and Ordnance beyond the said Lady day 79. amounting to 35000 l. Concerning this Particular , I have received a Certificate from the Office of the Ordnance , very contrary to what is asserted : for they say , That the late Master of the Ordnance did obtain from my Lord of Danby , when Lord Treasurer , something like a Settlement , but onely by a verbal promise , of 41600 l. per annum to be constantly paid out of the Customs by 800 l. per week , for defraying the ordinary expence of the Office , and to commence from Midsummer 1677. That this continued to be paid but till Feb. 10. 77. being 33 weeks , amounting at that rate to 26400 l. which yet was not fully paid before the 13 of May 1678. So that at Lady day 1679. the Office was in arrear of this allowance no less than 58 weeks , that is 46400 l. and from Lady day 79. to Midsummer last 1680. being one year and a quarter , 52000 l. in toto 98400 l. Whereof received , March 19. 1678. by a Talley struck upon the Customs , by order of the late Lord Treasurer , 10000 l. for the ordinary expence of the said Office for one Quarter , ending at Midsummer 1678. More at several times by order of the Right Honourable the Lords Commissioners of his Majesties Treasury , for the ordinary expence thereof till the 24 of June 1680. the sum of 21414 l. 6 s. 3¾ d. in toto 31414 l. 6 s. 3¾ d. So that then , viz. at Midsummer last past , supposing the said allowance of 800 l. per week to be continued to this Office , there was in arrear the sum of 66985 l. 13 s. 8¼ d. That no Talleys struck upon the Customs before Lady day were applicable to any service done since that time . Signed Jonas Moore . Edw. Sherburne . Edw. Conyers . G. Wharton . Office of Ordnance , 9 Septemb. 1680. These are the words of the Certificate ; which in stead of allowing any such thing as a Provision for carrying on the service of the Navie and Ordnance beyond Lady day 79. it Charges an Arrear of 36000 l. ( allowing the Talley of 10000 l. struck the 19 of March 78. as present payment ) left at that time , in stead of the sum of 35000 l. to carry it on beyond that time . This as to the Ordnance seems a strange Mistake ; and what relates to the Navie will appear as unluckie , when I come to give the Accompt of that Particular , in the Charge that is to be added . The next deduction is for Talleys struck for Pensions upon the two last Quarters of the Excise , viz. Christmas 78. and Lady day 79. about the sum of 33000 l. for payment of which , Money was left in the hands of the Commissioners of Excise . This Particular could be determined no way properly but by the Commissioners of Excise , from whom I have received a Certificate sent the 15 of Septemb. 1680. viz. That all Moneys received by the late Commissioners of Excise , are by them disburs'd and accompted for , excepting what is remaining at the foot of their Accompt ; and that it doth not appear unto us that any such sum as 33000 l. was at any time left in the said Commissioners hands for payment of Pensions . Signed Den. Ashburnham . Rob. Huntington . Cha : Davenant . Excise Office. These two last deductions therefore cannot be allowed , unless my Lord of Danby could likewise finde out a Notorious Falshood in the Certificates of the Offices . The next deduction is for Talleys upon the Customs restored for Tynne , which was deposited in Mr. Kent ' s hands , amounting to the sum of 15000 l. I have obtained from Mr. Kent and Mr. Duncombe , the Accompt of this Tynne , that I may be as clear as I can in matter of Fact. The Accompt sent me was thus , by way of Debtor and Creditor . Tynne-Accompt Dr. 1678.   l. s. d. Sept. 11. To Money lent 31220 17   79. Aug. 13. To so much allowed to Cha : Duncombe Esq and Comp. for Commission for selling and managing the Tynne , 711 7     13. To Money paid to the present Lords of the Treasury , 4395 3 6     36327 7 6 1679. Tynne-Accompt Cr. l. s. d. May 13. By Talleys on the Customs 10000     Aug. 13. By the product of the sale of the Tynne , 26327 7 6     36327 7 6 By which Accompt it appears , that in stead of 15000 l. claim'd by my Lord of Danby , there is but 4395 l. 3 s. 6 d. to be allowed as a Deduction ; which I shall likewise substract , when I come to sum up the whole . The next and last Deduction , is for Talleys on the Customs , accounted by the Examiner to be unpaid , amounting to 2342 l. which were paid ( as my Lord says ) in his time . I sent to Mr. Kent the Cashier of the Customs concerning this Particular , who sent me word he could not finde any such Talleys : however , by reason I have no direct Certificate , I will rather admit it as a Deduction , than dispute it . The Deductions then to be allowed are , 1. The Talleys to pay the Forces forwards to the first of July , 59588 l. 2. The Balance of the Tynne-Accompt , 4395 l. 3 s. 6 d. 3. Mr. Montague ' s Talleys 2342 l. 66325 l. 3 s. 6 d. The true state of all , I conceive then to be thus : The Examiners Charge was 1485570 l. From which substracting the Deductions , which are 66325 l. 3 s. 6 d. The Remaining Charge will be 1419244 l. 16 s. 6 d. And that the Matter of Fact may yet more clearly appear , how the Kings Revenue stood Charged when my Lord Danby left it ; I must also add three other Particulars , amounting to 655634 l. 19 s. 6 d. ( of which Sum , the present Lords of the Treasury have paid and satisfied Four hundred seventy eight thousand six hundred forty six pounds eighteen shillings six pence , viz. 1. The Monies left unpaid on the Fifth part of the Excise , which was 83400 2. The Debt to the Eastland Merchants , paid by Talley on the Hearth-money , which was 186585 l. 19 s. 9 d. 3. Vpon the return of Sir John Norborough ' s Fleet , ( which had been a long time at Sea ) there became a great debt upon the Navie , which being computed to Lady day 79. amounted to 385648 l. 1 s. 0 d. The particular Accompt I had in two Certificates from the Navie-Office ; of which sum , these present Lords of the Treasury have satisfied the sum of 208660 l. 18 s. 9 d. Ships yet unpaid in the List , amounting to 60273 l. 15 s. 0 d. and the remaining sum to compleat the debt above mentioned , being 268934 l. 13 s. 9 d. 116714 l. 6 s. 0 d. 385648 19 9 is supposed either to be paid by Tickets before the 25 of March 79. or is still unpaid . The total of those three particulars 655634 19 6 To which adding the Charge on the Revenue before computed , amounting to 1419244 16 6 2074879 16 The total of the whole Charge left on the Revenue at Lady day 79. by this Accompt , appears to be , Two Millions seventy four thousand eight hundred seventy nine pounds sixteen shillings . And as to the Proof of all these three Particulars , The first , concerning the fifth part of the Excise ; The second , concerning the Eastland Merchants ; The Records of the Exchequer will be the Evidence : and for The third Particular , concerning the Navie and Fleet under the Command of Sir John Norborough , The Charge is according to the two Certificates before mentioned , which I have now by me , together with the others ; and am ready to shew them to any , that doubts the truth of the Particulars . And these present Lords of the Treasury will be the truest Judges , whether these Charges are justly Computed ; to whom I submit it ; and shall gladly acknowledge my Errour , if they do not feel the Matter of fact to be too true . There is nothing more remains as I see , that concerns Me , or Matter of fact , but a Paper delivered by Me , to his Majestie , the 5th of March 75. which was almost three years after this Lords having the Staff. I have not the Copy by me ; but I remember I delivered such a Paper to the King , and did it out of a sense of Duty , to offer to him , whether He in his great Prudence would think fit to make some Suspensions , and upon that , declare payment of the Residue , which the Revenue would not bear . I do believe , that as near as I could then guess , the Income would be short of the proportion'd Expence , by the Sum mentioned by my Lord Danby , Pag. 13. of 519143 l. 1 s. 6 d. which only shews the Matter of Fact , how much the Revenue was impair'd , from June 73. to March 75. And the State of it , as it is here now represented , shews as well , how much it was impair'd from March 75. to Lady-day 79. And His Majesty I doubt not but remembers , that I gave him often notice of my apprehensions , how much the Revenue was like to suffer , by the way of Management ; and therefore my Proposition to the King , to find a Weekly Credit , was to help to pay off all Tallies , and to bring the Government of the Kings Revenue by Specie into the Exchequer ; in which those Frauds that had been committed , would infallibly have been avoided . Which is quite contrary to what my Lord Danby mentions , p. 12. of putting the Three great Branches into the hands of Vndertakers ; and a thing I never thought of . But the Propositions I presented to the King , I offered to prove ; and could have made good , if he had thought it for His Service ; which I can make appear by Men of the greatest Quality , if required of me ; and to evidence that 't was my constant judgment , that Tallies of Anticipation would be the ruine of the Revenue , I presented to my Lord Danby at Windsor , not long after he received the Staff , my thoughts of it ; and how it was at that time in his Lordships power , to place it in the right way of Management ; upon which he commanded me to put it in Writing , which accordingly I did ; and in that Paper there appeared no difficulty , but upon the Debt due to Sir Stephen Fox by Tallies on the Excise , to whom I was commanded by his Lordship to impart the Scheme ; who seeing it for the Kings Service , freely consented to receive his Debt by the week , by which means the Revenue might have been reduc'd to that way of Management , as would have hindred many disadvantages to the King , which since that has hapned . I only give this short Account , to shew what my judgment ever was concerning Tallies of Anticipation , and am at last extreamly satisfied , to see my constantly declared Opinion approved by the proceedings of these present Lords Commissioners of the Treasury , who use their endeavours to bring the Kings Revenue as fast as they can , to be Govern'd by Record , according to the Rules and Methods of the Exchequer , which is the Common Law of England . Thus , Sir , I have endeavour'd to be so clear in what I have done , that it may admit no Contradiction ; at least , I am not Conscious to my self , that I have not in every thing acknowledged Truth where it appeared , nor have denied or asserted any thing , but what I had proofs to justifie me in ; and hope it may give that satisfaction which is desired by you , and intended by Octob. 13. 1680. SIR , Your most Humble and Obedient Servant RO. HOWARD . FINIS . ERRATA . PAge 5. line 34. read vouch it there . p. 9. l. 24. r. examination . p. 11. l. 7. r. if in peace . l. 25. r. advance l. 34 , 35. r. the first of July . p. 12. l. 21. r. debt . p. 20. l. 21. should be a stroak , being the summing up a Sum , thus — 
A52443	----	Discourses upon trade, principally directed to the cases of the interest, coynage, clipping, increase of money North, Dudley, Sir, 1641-1691. 1691 Approx. 61 KB of XML-encoded text transcribed from 21 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2005-12 (EEBO-TCP Phase 1). A52443 Wing N1280 ESTC R5762 13085803 ocm 13085803 97304 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A52443) Transcribed from: (Early English Books Online ; image set 97304) Images scanned from microfilm: (Early English books, 1641-1700 ; 393:24) Discourses upon trade, principally directed to the cases of the interest, coynage, clipping, increase of money North, Dudley, Sir, 1641-1691. [13], 23, [5] p. Printed for Tho. Basset ..., London : 1691. Written by Dudley North. Cf. BM. Reproduction of original in Huntington Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. Re-processed by University of Nebraska-Lincoln and Northwestern, with changes to facilitate morpho-syntactic tagging. Gap elements of known extent have been transformed into placeholder characters or elements to simplify the filling in of gaps by user contributors. 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Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Finance -- Early works to 1800. 2003-05 TCP Assigned for keying and markup 2003-05 Apex CoVantage Keyed and coded from ProQuest page images 2005-03 Jonathan Blaney Sampled and proofread 2005-05 Apex CoVantage Rekeyed and resubmitted 2005-06 Jonathan Blaney Sampled and proofread 2005-06 Jonathan Blaney Text and markup reviewed and edited 2005-10 pfs Batch review (QC) and XML conversion Discourses UPON TRADE ; Principally Directed to the CASES OF THE Interest of MONEY . Coynage of MONEY . Clipping of MONEY . Increase of MONEY . LONDON : Printed for Tho. Basset , at the George in Fleet-street . 1691. THE PREFACE . THese Papers came directed to me , in order , as I suppose , to be made Publick : And having transmitted them to the Press , which is the only means whereby the University of Mankind is to be inform'd , I am absolv'd of that Trust. The Author is pleas'd to conceal himself ; which after perusal of his Papers , I do not ascribe to any Diffidence of his Reasons , the Disgusts of Great Men , nor overmuch Modesty , which are the ordinary Inducements for lying hid ; but rather to avoid the Fatigue of digesting , and polishing his Sentiments into such accurate Method , and clean Style , as the World commonly expects from Authors : I am confident he seeks only the Publick Good , and little regards Censure for the want of Neatness , and Dress , whereof he seems to make a slight account , and to rely wholly upon the Truth , and Justice of his Matter ; yet he may reasonably decline the being noted , for either a careless , or an illiterate Person . The Publick is an acute , as well as merciless Beast , which neither over-sees a Failing , nor forgives it ; but stamps judgment and Execution immediately , thô upon a Member of itself ; and is no less Ingrateful than common Beggars , who affront their Benefactors , without whose Charity their Understandings would starve . Wherefore I cannot but excuse our Friend's Retiredment , and shall take advantage of his absence so far , as to speak of his Discourses with more freedom , then I verily believe his Presence would bear . As for the Style , you will find it English , such as Men speaks , which , according to Horace , is the Law and Rule of Language . Nor do I perceive that the Gentleman intended more than his Title holds forth ; common Discourses , which possibly were taken by an Amanuensis , and dispatcht without much Correction . Surely no Man would refuse the Conversation of an ingenious Friend , because he doth not speak like Tully ; And if the Conversation be so desirable , why should we , quarrel with the same thing in Writing ? Nay , it is very impolitick , by such Exactions of Labour and Pains , to discourage all Ingenious Persons from medling in Print , whereby we lose the benefit of their Judgment , in matters of common concern . Words are indeed a Felicity , which some have in great perfection ; but many times , like a fair Face , prove Temptations to Vice ; for I have known very good Sence neglected , and post-poned to an Elegance of Expression ; whereas if Words are wanted , the whole Effort is made by pure strength of Reason , and that only is relied on . The Lawyers in their Deeds , wave all the Decorums of Language , and regard only incontrovertible Expressions . The Merchants in their Policies and Exchanges , use no one Word but what is necessary to their Point , because the Matter and Substance only is intended , and not the Dress ; Why then should Reasoners be incumbred , beyond what is necessary to make their Reason understood ? To speak very short , and yet clear , is a Vertue to be envyed ; and if directed to Persons , or Assemblies whose business is great , or made so by many Mens interposing in it , it is absolutely necessary ; for your Discourse , if it be tedious , is better spared than the time ; but it is not so in dealing with lazy Ignorance of any sort , or an Earitching Rabble , who are actually impertinent ( as well as impetuous ) and not sensible of cheat . And I may add , That in Writing unless in the Epistolary way , ( which being supposed hasty , ought to be short and figurative ) an abundance of Words is more pardonable than obscurity , or want of Sence , because we take our own time , and have leisure to peruse it . I will grant that amongst opulent and idle Persons , as well as Schollars , whose business lies in Words , the bare polishing of Language , is one of the most commendable Entertainments ; and to them we resign it ; for to Men of business , it is the most hateful thing , I mean , meer Idleness . I grant also , that delicacy of Words , now most used in Poetry , is useful for disposing way-ward People to learn , or make them endure to read . But the World is not at such low ebb of Curiosity in this Age. Men are forward enough to run their Noses into Books , especially such as deal in Faction and Controversie : And it were well if they were either Wrote or Read with as much Integrity as Industry ; we have no need of Sugar-plum devices to wheedle Men into Reading , they are Inquisitive enough ; and if the Subject be their own Interest , I am of Opinion , if you can make 'em understand it , you may trust them . As for the Method used in these Papers , there is so little of it affected , that I am afraid some will say there is none at all : I never thought that true Method consisted in affected Divisions , and Sub-divisions , Firsts , Seconds , Sub-firsts , &c. tho' all that is very useful in Works intended to be consulted as Repertories ; but where the Understanding is to be informed , it is meer trash , and the business is often lost in it . And in such Designs it is enough , if Things lie in the Order of Nature , and the Conclusion is not put before the Premisses , so that the course of the Argument is limpid , and intelligible : A Friend of mine used to say , That if the First Chapter were before the Second , it was all the Method he cared for , meaning only what I have observed , which I suppose you will find here . This drudgery of Digesting , is another Excise upon Sence , which keeps back a great deal of it from coming forth ; and without a singular tallent , and much exercise , it makes composing extreamly difficult . I do not understand why other Men , as well as Mountaigne , may not be indulged to ramble in Essays , provided the Sence fails not . The Scalligerana , Pirroana , Pensees , and Mr. Selden's Table-talk , are all heaps of incoherent scraps ; yet for the wit and spirit esteemed ; therefore let that which is most valuable , Reason and Truth be encouraged to come abroad , without imposing such chargeable Equipages upon it , whereby Writers are made to resemble Brewers Horses , very useful Animals , but arrant Drudges . Methinks when I meet with a great deal of Firsting , and Seconding , I smell one who conceits himself an Author , a Creature as fulsome as any other sort of Impertinents . If there be Reason , and that understood , what could the formal Methodist add ? Let me have the Cockle , and who will take the gay shell . Now after all this it will be injust , not to say some . what of the Subject-matter of these Discourses , which is Commerce and Trade ; and the Author's manner of Treating it . He seems to be of a Temper different from most , who have medled with this Subject in Publick ; for it is manisest , his Knowledge and Experience of Trade is considerable , which could not be attained , unless he were a Trader himself ; and yet it is not to be collected from any thing he says , of what Nature his dealing hath been ; for he speaks impartially of Trade in general , without warping to the Favour of any particular Interest . It hath been observed formerly , when Merchants have been consulted , and the Questions concerned only Trade in general , they agreed in Opinion ; but when opposite Interests were concerned , they differed toto caelo . As for his Opinion touching Interest of Money , wherein he is clear , that it should be left freely to the Market , and not be restrained by Law , he is lyable to the same suspicion , which attends those of a different judgment ; that is , partiality to his own Interest ; the difference is only in the supposed Cause , which in the one , is Wealth , and in the other Want. He hath given his judgment with his Reasons , which every one is free to canvas ; and there is no other means whereby a wise and honest Person can justifie his Opinions in Publick Concerns . In the next place , I find Trade here Treated at another rate , than usually hath been ; I mean Philosophically : for the ordinary and vulgar conceits , being meer Husk and Rubbish , are waved ; and he begins at the quick , from Principles indisputably true ; and so proceeding with like care , comes to a Judgment of the nicest Disputes and Questions concerning Trade . And this with clearness enough , for he reduceth things to their Extreams , wherein all discriminations are most gross and sensible , and then shews them ; and not in the state of ordinary concerns , whereof the terms are scarce distinguishable . This Method of Reasoning hath been introduc'd with the new Philosophy , the old dealt in Abstracts more than Truths ; and was employed about forming Hypotheses , to fit abundance of precarious and insensible Principles ; such as the direct or oblique course of the Atomes in vacuo , Matter and Form , Privation , solid Orbs , fuga vacui , and many others of like nature ; whereby they made sure of nothing ; but upon the appearance of Des Carte's excellent dissertation de Methodo , so much approved and accepted in our Ages , all those Chymera's soon dissolved and vanisht . And hence it is , that Knowledge in great measure is become Mechanical ; which word I need not interpret farther , than by noting , it here means , built upon clear and evident Truths . But yet this great . Improvement of Reason which the World hath lately obtained , is not diffus'd enough , and resides chiefly with the studious and learned , the common People having but a small share ; for they cannot abstract , so as to have a true and just thought of the most ordinary things , but are possest and full of the vulgar Errors of sense : Except in some few things that fail within the compass of their day-labour , and so gives them an Experience ; As when a Common-Seaman , with all his Ignorance , proves a better Mechanick , for actual Service , than the Professor himself , with all his Learning . The case of Trade is the same ; for although to buy and sell , be the Employment of every man , more or less ; and the Common People , for the most part , depend upon it for their daily subsistence ; yet there are very few who consider Trade in general upon true Principles , but are satisfied to understand their own particular Trades , and which way to let themselves into immediate gain . And out of this active Sphere nothing is so fallacious , and full of Error , as mens Notions of Trade . And there is another Reason , why this matter seems less understood , than in truth it is . For whenever Men consult for the Publick Good , as for the advancement of Trade , wherein all are concerned , they usually esteem the immediate Interest of their own to be the common Measure of Good and Evil. And there are many , who to gain a little in their own Trades , care not how much others suffer ; and each Man strives , that all others may be forc'd , in their dealings , to act subserviently for his Profit , but under the covert of the Publick . So Clothiers would have men be forc'd to buy their Manufacture ; and I may mention such as sell Wool , they would have men forc'd to buy of them at an high Price , though the Clothier loseth . The Tinners would have their Tin dear , though the Merchant profits little : And in general all those who are lazy , and do not , or are not active enough , and cannot look out , to vent the Product of their Estates , or to Trade with it themselves , would have all Traders forc'd by Laws , to bring home to them sufficient Prizes , whether they gain or lose by it . And all the while , not one of them will endure to be under a force , to Sell , or Let their own Estates at lower rates , than the free Market of things will produce . Now it is no wonder , that out of these Ingredients a strange Medley of Error should result , whereby seldom any Publick Order , which hath been establisht , and intended , or at least pretended for the good of Trade in general , hath had a suitable Effect ; but on the contrary , hath for the most part proved prejudicial , and thereupon , by common consent , been discontinued . But this is too copious Matter for a Preface , and tho' many Instances occur , I leave all , and return to the matter of Vulgar Errors in Trade . It is not long since there was a great noise with Inquiries into the Balance of Exportation and Importation ; and so into the Balance of Trade , as they called it . For it was fancyed that if we brought more Commodities in , than we carried out , we were in the High-way to Ruin. In like manner have we heard much said against the East-India Trade , against the French Trade , with many other like politick conceits in Trade ; most of which , Time and better Judgment hath disbanded ; but others succeed in their room , according as new Persons find Encouragement to invent , and inspire , for promoting their private Interest , by imposing on those , who desire to be cunning . And now we complain for want of Money in specie , that Bullion is Exported or mis-employed to other uses , than making Money ; and ascribe the deadness of Trade , especially of Corn , and Cattel in the Country , to this ; and hope by a Regulation of the Bullion-Trade , and stinting the Price , except it be in Money , to make a through Reformation , and give new Life to all things , with much more , ejusdem farina , which I do not particularize , this being enough for a taste . Now it may appear strange to hear it said , That the whole World as to Trade , is but as one Nation or People , and therein Nations are as Persons . That the loss of a Trade with one Nation , is not that only , separately considered , but so much of the Trade of the World rescinded and lost , for all is combined together . That there can be no Trade unprofitable to the Publick ; for if any prove so , men leave it off ; and where-ever the Traders thrive , the Publick , of which they are a part , thrives also . That to force Men to deal in any prescrib'd manner , may profit such as happen to serve them ; but the Publick gains not , because it is taking from one Subject , to give to another . That no Laws can set Prizes in Trade , The Rates of which , must and will make themselves : But when such Laws do happen to lay any hold , it is so much Impediment to Trade , and therefore prejudicial . That Money is a Merchandize , whereof there may be a glut , as well as a scarcity , and that even to an Inconvenience . That a People cannot want Money to serve the ordinary dealing , and more than enough they will not have . That no Man shall be the richer for the making much Money , nor have any part of it , but as he buys it for an equivalent price . That the free Coynage is a perpetual Motion sound out , whereby to Melt and Coyn without ceasing , and so to feed Goldsmiths and Coyners at the Publick Charge . That debasing the Coyn is defrauding one another , and to the Publick there is no sort of Advantage from it ; for that admits no Character , or Value , but Intrinsick . That the sinking Money by Allay or Weight is all one . That Exchange and ready Money , are the same , nothing but Carriage and re-carrige being saved . That Money Exported in Trade is an increase to the Wealth of the Nation ; but spent in War , and Payments abroad , is so much Impoverishment . In short , That all favour to one Trade or Interest against another , is an Abuse , and cuts so much of Profit from the Publick . With many other like Paradoxes , no less strange to most men , than true in themselves ; but in my Opinion , clearly slowing from the Principles , and Discourses that follow , which you may freely peruse and censure , for now I have done . Perhaps my unknown Confident may think me too sawcy , for putting my Oar into his Boat , and I will not excuse my self to him , otherwise than by demanding the same Liberty he hath taken ; that is , to have a fling at the World ; and as yet the Advantage is his , for he hath two , and better , for my one . And so Farewel . A DISCOURSE Concerning the Abatement of INTEREST . ARguments for Abatement of Interest are many , viz. I. When Interest is less , Trade is incourag'd , and the Merchant can be a Gainer ; whereas , when it is great , the Usurer , or Money-owner takes all . II. The Dutch , with whom Interest is low , Trade cheaper , and under-sell us . III. Land falls in value , as Interest riseth . With divers others , whereof the Facts may be true , but proceed from another Cause , and conduce nothing to the purpose for which they are alledg'd . I shall not formally apply my self to answer all the Arguments and Discourses , that commonly are found in Pamphlets , and Conversation upon this Subject ; as if I were to Advocate the Cause of Interest : But give my thoughts impartially in the whole matter , with regard to the Profit of the whole Nation , and to no particular Persons project : Wherein I hope to propose , that which may resolve any doubt that can be raised , and leave every one to apply it , as they think fit . The Question to be considered is , Whether the Government have reason by a Law , to prohibit the taking more than 4 l. per Cent. Interest for Money lent , or to leave the Borrower and Lender to make their own Bargains . In the Disquisition of this , many things are to be considered , and particularly such as relate to Trade , of which a true Notion will set right a World of Mistakes , wherefore that now shall be chiefly treated of . Trade is nothing else but a Commutation of Superfluities ; for instance : I give of mine , what I can spare , for somewhat of yours , which I want , and you can spare . Thus Trade , whilst it is restrained within the limits of a Town , Country , or Nation , signifieth only the Peoples supplying each other with Conveniences , out of what that Town , Country , or Nation assords . And in this , he who is most diligent , and raiseth most Fruits , or maketh most of Manufactory , will abound most in what others make , or raise ; and consequently be free from Want , and enjoy most Conveniences , which is truly to be Rich , altho' there were no such thing as Gold , Silver , or the like amongst them . Mettals are very necessary for many Uses , and are to be reckon'd among the Fruits and Manufactories of the World. And of these , Gold and Silver being by nature very fine , and more scarce than others , are higher prized ; and a little of them is very reasonably esteem'd equal in value with a great quantity of other Mettals , &c. For which reason , and moreover that they are imperishable , as well as convenient for easie stowage and removal , and not ▪ from any Laws , they are made a Standard , or common Measure to deal with ; and all Mankind concur in it , as every one knows , therefore I need not inlarge further in this matter . Now it is to be consider'd , that Mankind being fallen into a way of commuting in this manner , to serve their occasions , some are more provident , others more profuse ; some by their Industry and Judgment raise more Fruits from the Earth , than they consume in supplying their own occasions ; and then the surplus remains with them , and is Property or Riches . And Wealth thus contracted , is either commuted for other Mens Land ( supposing all Men to have had some ) or massed up in heaps of Goods ; be the same of Mettals , or any thing valuable . And those are the Rich , who transmit what they have to their Posterity ; whereby particular Families become rich ; and of such are compounded Cities , Countries , Nations , &c. And it will be found , that as some particular Men in a Town grow richer , and thrive better than others ; so also do Nations , who by Trade serving the occasions of their Neighbours , supply themselves with what they have occasion for from abroad ; which done , the rest is laid up , and is Silver , Gold , &c. for as I said , these being commutable for every thing , and of small bulk , are still preferr'd to be laid up , till occasion shall call them out to supply other Necessaries wanted . Now Industry and Ingenuity having thus distinguisht Men into Rich and Poor ; What is the consequence ? One rich Man hath Lands , not only more than he can manage , but so much , that letting them out to others , he is supplied with a large over-plus , so needs no farther care . Another rich Man hath Goods ; that is , Mettals , Manufactures , &c. in great quantity , with these he serves his own occasions , and then commutes the rest in Trade ; that is , supplies others with what they want , and takes in exchange what they had of , beyond their own occasions , whereby managing cunningly , he must always advance . Now as there are more Men to Till the Ground than have Land to Till , so also there will be many who want Stock to manage ; and also ( when a Nation is grown rich ) there will be Stock for Trade in many hands , who either have not the skill , or care not for the trouble of managing it in Trade . But as the Landed Man letts his Land , so these still lett their Stock ; this latter is call'd Interest , but is only Rent for Stock , as the other is for Land. And in several Languages , hiring of Money , and Lands , are Terms of common use ; and it is so also in some Countries in England . Thus to be a Landlord , or a Stock-lord is the same thing ; the Landlord hath the advantage only in this : That his Tenant cannot carry away the Land , as the Tenant of the other may the Stock ; and therefore Land ought to yield less profit than Stock , which is let out at the greater hazard . These things consider'd , it will be found , that as plenty makes cheapness in other things , as Corn , Wool , &c. when they come to Market in greater Quantities than there are Buyers to deal for , the Price will fall ; so if there be more Lenders than Borrowers , Interest will also fall ; wherefore it is not low Interest makes Trade , but Trade increasing , the Stock of the Nation makes Interest low . It is said , that in Holland Interest is lower than in England . I answer , It is ; because their Stock is greater than ours . I cannot hear that they ever made a Law to restrain Interest , but am certainly informed , that at this day , the Currant Interest between Merchant and Merchant , when they disburse Money for each others Account , is 6 per Cent. and the Law justifies it . I allow Money is many times lent at 3 , and 4 per Cent. but it is upon Mortgages , out of which the State hath a Duty , and by the course of Titles there , such dealing is perfectly safe ; and this is still by private consent and agreement , and not by co ersion and order of Law. The like often happens here , when poor Widows and Orphans purchase the Security of their Livelihoods , and punctual Payment , by lending at small Interest , to such as need not the Money . It might not be amiss in this place , to say somewhat of the Publick Banks that are in Forreign Parts , as Amsterdam , Venice , &c. but that is a Subject I have not time to dilate upon : I shall only say , that it is a cunning way of supplying the Government once with a great Sum ; and as long as the Government stands , it is no loss to them that have the Credit , nor no great Inconveniency ; for all Bills of Exchange are made by Law payable in Bank , and not otherwise ; for Dealers in Exchanges it is best that way , and such as want their Money , find no difficulty in selling their Credits , the price of which riseth and falleth according to Demanders , as of other things . I do not understand that true , two Banks pay any Interest ; it is true there are several Funds , viz. The Mint in Venice , and the Chamber in Amsterdam , with several others in those , and other Cities , where Money is put out at Interest for Lives , and several other ways , and at different Rates , more or less , according to the Credit these Funds have , which are the Security ; and these may , by mistake , be called the Banks , which they are not , being only such as the Chamber of London , East-India-House , &c. were . I do not believe , but the Usurer , according to the saying , will take half a Loaf , rather than no Bread : But I averr , that high Interest will bring Money out from Hoards , Plate , &c. into Trade , when low Interest will keep it back . Many Men of great Estates , keep by them for State and Honour , great Quantities of Plate , Jewels , &c. which certainly they will be more inclin'd to do , when Interest is very low , than when it is high . Such as have nothing to subsist by , but the Interest of Money , must either let it out , or Trade with it themselves , and be contented with what they can get ; but that hinders not , but very many other Men , who are rich , and not so prest , may , if Interest be very low , choose to make use of their Stocks in Jewels , Plate , &c. rather than run the hazards , and be at the trouble of dealing with necessitous and knavish Men , such as many Borrowers are , for inconsiderable gains . So that it cannot be denied , but the lowering of Interest may , and probably will keep some Money from coming abroad into Trade ; whereas on the contrary , high Interest certainly brings it out . Next is to be considered , that Dealings between Borrowers and Lenders are of two kinds : 1. Upon Mortgage , or Pawn . 2. Upon Personal Security , and that either by single Bond , or with Sureties ; all which , as they differ in goodness , so ought in reason to bear different Prizes . Shall any Man be bound to lend a single Person , upon the same Terms , as others lend upon Mortgages , or Joynt Obligations ? Then again it is to be considered , that the Moneys imployed at Interest in this Nation , are not near the Tenth part , disposed to Trading People , wherewith to manage their Trades ; but are for the most part lent for the supplying of Luxury , and to support the Expence of Persons , who though great Owners of Lands , yet spend faster than their Lands bring in ; and being loath to sell , choose rather to mortgage their Estates . So that in truth an Ease to Interest , will rather be a Support to Luxury , than to Trade ; the poor Trading Man , who hath but a narrow Stock , or none at all , supplies himself by buying Goods of rich Men at time , and thereby pays Interest , not at the rate of 5 , 6 , or 8 , but 10 , 12 , and more per Cent. And this is not in the Power of any Legislature to prevent , or remedy . It may be said , let him take Money at Interest , and not buy at Time. But then Men must be found , that will lend ; the Legislative must provide a Fund to borrow upon . The Trade of setting out Ships , runs very much upon this course , wherein it is usual to Bum'em ( as they call it ) at 36 per Cent. And this cannot be remedied ; and if it were , it would be a stop , as well to the Building , as the setting out of many Ships ; whereby , after all , not only the publick , but the private Persons concern'd are Gainers for the most part . Thus when all things are considered , it will be found best for the Nation to leave the Borrowers and the Lender to make their own Bargains , according to the Circumstances they lie under ; and in so doing you will follow , the course of the wise Hollanders , so often quoted on this account : and the consequences will be , that when the Nation thrives , and grows rich , Money will be to be had upon good terms , but the clean contrary will fall out , when the Nation grows poorer and poorer . Let any one Answer me , why do not the Legislators in those poor Countries , where Interest is at 10 , & 12 per Cent , make such Laws to restrain Interest , and reduce it for the good of the People ? If they should attempt it , it wou'd soon appear , that such Laws would not be effectual to do it . For when there are more Borrowers than Lenders , as in poor Countries , where if a rich Man hath 100 l. to dispose , and there are four , five or more Men striving for it ; the Law would be evaded by underhand Bargains , making Loans in Goods , drawing Bills , and a thousand ways beside ; which cannot be prevented . It is probable that when Laws restrain Interest of Money , below the Price , which the Reason of Trade settles , and Traders cannot ( as we will suppose ) evade the Law , or not without great difficulty , or hazard , and have not Credit to borrow at Legal Interest , to make , or increase their Stock ; so much of Trade is lopt off ; and there cannot be well a greater obstruction to diminish Trade then that would be . The consideration of all these Matters , makes out an universal Maxime , That as more Buyers than Sellers raiseth the price of a Commodity , so more Borrowers than Lenders , will raise Interest . And the State may with as much Justice make a Law that Lands which heretofore have been Lett for 10 s. per Acre , shall not now be Lett for above 8 s. per Acre , as that Money , or Stock , from 5 per Cent , shall be Lett for 4 per Cent , the Property being as good , and as much the Substance of the Kingdom in the one , as in the other . I will not say any thing to the Theological Arguments against Interest of Moneys ; by those 3 per Cent is no more lawful , than 4 , or 12. But this I shall maintain Politically , that if you take away Interest , you take away Borrowing , and Lending . And in consequence the Gentry , who are behind hand , be it for what cause soever , must sell , and cannot Mortgage ; which will bring down the Price of Land. And the Trader whatever his skill is , if he hath no Stock , must either sit still , or buy at Time , which is Interest under another Name . And they who are poor , will always be so , and we should soon relapse into the state of One Thousand Years ago . And whereas the Stock of the Nation is now reckon'd great , let it be fairly valued , and it will be found much less than it seems to be ; for all the Monies that are owing upon Land Securities , must be struck off , and not estimated ; or else you will have a wrong Account ; for if a Gentleman of 500 l. per Annum , owes 8000 l. and you value his Land , and the Lender's Stock both , you make an account of the same thing twice . And whereas we make great Accounts of Money'd Men in the Nation , in truth there are but few ; for suppose all that have lent upon Mortgage , had Land for their Moneys , as indeed in strictness of Law they have , there wou'd be but few Money'd Men in the Nation left . The borrowing of Money of one , to pay another , call'd , Robbing of Peter to pay Paul , so much practis'd now a-days , makes us think the Nation far richer than it is . A Discourse of COYNED MONEY . IN the former Discourse , it hath been already made appear , that Gold and Silver for their scarcity , have obtained in small quantities , to equal in value far greater quantities of other Metals , &c. And farther , from their casie Removal , and convenient Custody , have also obtained to be the common Measure in the World between Man and Man in their dealings , as well for Land , Houses , &c. as for Goods and other Necessaries . For the greater Improvement of this Convenience , and to remove some Difficulties , which would be very troublesome , about knowing quantities and qualities in common and ordinary dealing : Princes and States have made it a matter of Publick concern , to ascertain the Allay , and to determine the Weights , viz. the quantities of certain Pieces , which we call Coyn , or Money ; and such being distinguish'd by Stamps , and Inscriptions , it is made difficult , and highly Penal to Counterseit them . By this means the Trade of the World is made easie , and all the numerous species of several Commodities have a common Measure . Besides the Gold and Silver being thus coyned into Money , and so become more usesul for Commerce than in the Log or Block , hath in all places , except in England since the free Coynage , reasonably obtained a greater value than it had before : And that not only above the real charge of making it so , but is become a State-Revenue ( except as before ) tho' not very great . Whereas if Silver coyned and uncoyned bore the same rate , as it doth with us in England , where it is coyned at the Charge of the Publick , it will be lyable frequently to be melted down , as I shall shew anon . Money being thus the Common Measure of Buying and Selling , every body who hath any thing to sell , and cannot procure Chapmen for it , is presently apt to think , that want of Money in the Kingdom , or Country is the cause why his Goods do not go off ; and so , want of Money , is the common Cry ; which is a great mistake , as shall be shewn . I grant all stop in Trade proceeds from some cause ; but it is not from the want of specifick Money , there being other Reasons for it ; as will appear by the following Discourse . No Man is richer for having his Estate all in Money , Plate , &c. lying by him , but on the contrary , he is for that reason the poorer . That man is richest , whose Estate is in a growing condition , either in Land at Farm , Money at Interest , or Goods in Trade : If any man , out of an humour , should turn all his Estate into Money , and keep it dead , he would soon be sensible of Poverty growing upon him , whilst he is eating out of the quick stock . But to examine the matter closer , what do these People want , who cry out for Money ? I will begin with the Beggar ; he wants , and importunes for Money : What would he do with it if he had it ? buy Bread , &c. Then in truth it is not Money , but Bread , and other Necessaries for Life that he wants . Well then , the Farmer complains , for the want of Money ; surely it is not for the Beggar 's Reason , to sustain Life , or pay Debts ; but he thinks that were more Money in the Country , he should have a Price for his Goods . Then it seems Money is not his want , but a Price for his Corn , and Cattel , which he would sell , but cannot . If it be askt , if the want of Money be not , what then is the reason , why he cannot get a price ? I anwer , it must proceed from one of these three Causes . 1. Either there is too much Corn and Cattel in the Country , so that most who come to Market have need of selling , as he hath , and few of buying : Or , 2. There wants the usual vent abroad , by Transportation , as in time of War , when Trade is unsafe , or not permitted . Or , 3. The Consumption fails , as when men by reason of Poverty , do not spend so much in their Houses as formerly they did ; wherefore it is not the increase of specifick Money , which would at all advance the Farmers Goods , but the removal of any of these three Causes , which do truly keep down the Market . The Merchant and Shop-keeper want Money in the same manner , that is , they want a Vent for the Goods they deal in , by reason that the Markets fail , as they will always upon any cause , like what I have hinted . Now to consider what is the true source of Riches , or in the common Phrase , plenty of Money , we must look a little back , into the nature and steps of Trade . Commerce and Trade , as hath been said , first springs from the Labour of Man , but as the Stock increases , it dilates more and more . If you suppose a Country to have nothing in it but the Land it self , and the Inhabitants ; it is plain that at first , the People have only the Fruits of the Earth , and Metals raised from the Bowels of it , to Trade withal , either by carrying out into Foreign Parts , or by selling to such as will come to buy of them , whereby they may be supplyed with the Goods of other Countries wanted there . In process of time , if the People apply themselves industriously , they will not only be supplied , but advance to a great overplus of Forreign Goods , which improv'd , will enlarge their Trade . Thus the English Nation will sell unto the French , Spaniards , Turk , &c. not only the product of their own Country , as Cloath , Tin , Lead , &c. but also what they purchase of others , as Sugar , Pepper , Callicoes , &c. still buying where Goods are produc'd , and cheap , and transporting them to Places where they are wanted , making great advantage thereby . In this course of Trade , Gold and Silver are in no sort different from other Commodities , but are taken from them who have Plenty , and carried to them who want , or desire them , with as good profit as other Merchandizes . So that an active prudent Nation groweth rich , and the sluggish Drones grow poor ; and there cannot be any Policy other than this , which being introduc'd and practis'd , shall avail to increase Trade and Riches . But this Proposition , as single and plain as it is , is seldom so well understood , as to pass with the generality of Mankind ; but they think by force of Laws , to retain in their Country all the Gold and Silver which Trade brings in ; and thereby expect to grow rich immediately : All which is a profound Fallacy , and hath been a Remora , whereby the growing Wealth of many Countries have been obstructed . The Case will more plainly appear , if it be put of a single Merchant , or if you please to come nearer the point , of a City or County only . Let a Law be made , and what is more , be observ'd , that no Man whatsoever shall carry any Money out of a particular Town , County , or Division , with liberty to carry Goods of any sort : so that all the Money which every one brings with him , must be left behind , and none be carried out . The consequence of this would be , that such Town , or County were cut off from the rest of the Nation ; and no Man would dare to come to Market with his Money there ; because he must buy , whether he likes , or not : and on the other side , the People of that place could not go to other Markets as Buyers , but only as Sellers , being not permitted to carry any Money out with them . Now would not such a Constitution as this , soon bring a Town or County to a miserable Condition , with respect to their Neighbours , who have free Commerce , whereby the Industrious gain from the slothful and luxurious part of Mankind ? The Case is the same , if you extend your thought from a particular Nation , and the several Divisions , and Cities , with the Inhabitants in them , to the whole World , and the several Nations , and Governments in it . And a Nation restrained in its Trade , of which Gold and Silver is a principal , if not an essential Branch , would suffer , and grow poor , as a particular place within a Country , as I have discoursed . A Nation in the World , as to Trade , is in all respects like a City in a Kingdom , or Family in a City . Now since the Increase of Trade is to be esteem'd the only cause that Wealth and Money increase , I will add some farther Considerations upon that subject . The main spur to Trade , or rather to Industry and Ingenuity , is the exorbitant Appetites of Men , which they will take pains to gratifie , and so be disposed to work , when nothing else will incline them to it ; for did Men content themselves with bare Necessaries , we should have a poor World. The Glutton works hard to purchase Delicacies , wherewith to gorge himself ; the Gamester , for Money to venture at Play ; the Miser , to hoard ; and so others . Now in their pursuit of those Appetites , other Men less exorbitant are benefitted ; and tho' it may be thought few profit by the Miser , yet it will be found otherwise , if we consider , that besides the humour of every Generation , to dissipate what another had collected , there is benefit from the very Person of a covetous Man ; for if he labours with his own hands , his Labour is very beneficial to them who imploy him ; if he doth not work , but profit by the Work of others , then those he sets on work have benefit by their being employed . Countries which have sumptuary Laws , are generally poor ; for when Men by those Laws are confin'd to narrower Expence than otherwise they would be , they are at the same time discouraged from the Industry and Ingenuity which they would have imployed in obtaining wherewithal to support them , in the full latitude of Expence they desire . It is possible Families may be supported by such means , but then the growth of Wealth in the Nation is hindered ; for that never thrives better , then when Riches are tost from hand to hand . The meaner sort seeing their Fellows become rich , and great , are spurr'd up to imitate their Industry . A Tradesman sees his Neighbour keep a Coach , presently all his Endeavours is at work to do the like , and many times is beggered by it ; however the extraordinary Application he made , to support his Vanity , was beneficial to the Publick , tho' not enough to answer his false Measures as to himself . It will be objected , That the Home Trade signifies nothing to the enriching a Nation , and that the increase of Wealth comes out of Forreign Trade . I answer , That what is commonly understood by Wealth , viz. Plenty , Bravery , Gallantry , &c. cannot be maintained without Forreign Trade . Nor in truth , can Forreign Trade subsist without the Home Trade , both being connected together . I have toucht upon these matters concerning Trade , and Riches in general , because I conceive a true Notion of them , will correct many common Errors , and more especially conduce to the Proposition I chiefly aim to prove ; which is , that Gold and Silver , and , out of them , Money are nothing but the Weights and Measures , by which Traffick is more conveniently carried on , then could be done without them : and also a proper Fund for a surplusage of Stock to be deposited in . In confirmation of this , we may take Notice , That Nations which are very poor , have scarce any Money , and in the beginnings of Trade have often made use of something else ; as Sueden hath used Copper , and the Plantations , Sugar and Tobacco , but not without great Inconveniences ; and still as Wealth hath increas'd , Gold and Silver hath been introduc'd , and drove out the others , as now almost in the Plantations it hath done . It is not necessary absolutely to have a Mint for the making Money plenty , tho' it be very expedient ; and a just benefit is lost by the want of it , where there is none ; for it hath been observed , that where no Mints were , Trade hath not wanted a full supply of Money ; because if it be wanted , the Coyn of other Princes will become currant , as in Ireland , and the Plantations ; so also in Turky , where the Money of the Country is so minute , that it is inconvenient for great Payments ; and therefore the Turkish Dominions are supplied by almost all the Coyns of Christendom , the same being currant there . But a Country which useth Forreign Coyns , hath great disadvantage from it ; because they pay strangers , for what , had they a Mint of their own , they might make themselves . For Coyned Money , as was said , is more worth than Uncoyned Silver of the same weight and allay ; that is , you may buy more Uncoyned Silver , of the same fineness with the Money , than the Money weighs ; which advantage the Stranger hath for the Coynage . If it be said , That the contrary sometimes happens , and coyned Money shall be current for less than Bullion shall sell for . I answer , That where-ever this happens , the Coyned Money being undervalued , shall be melted down into Bullion , for the immediate Gain that is had from it . Thus it appears , that if you have no Mint whereby to increase your Money , yet if you are a rich People , and have Trade , you cannot want Specifick Coyn , to serve your occasions in dealing . The next thing to be shewed is , That if your Trade pours in never so much Money upon you , you have no more advantage by the being of it Money , then you should have were it in Logs , or Blocks ; save only that Money is much better for Transportation than Logs are . For when Money grows up to a greater quantity than Commerce requires , it comes to be of no greater value , than uncoyned Silver , and will occasionally be melted down again . Then let not the care of Specifick Money torment us so much ; for a People that are rich cannot want it , and if they make none , they will be supplied with the Coyn of other Nations ; and if never so much be brought from abroad , or never so much coyned at home , all that is more than what the Commerce of the Nation requires , is but Bullion , and will be treated as such ; and coyned Money , like wrought Plate at Second hand , shall sell but for the Intrinsick . I call to witness the vast Sums that have been coyned in England , since the free Coynage was set up ; What is become of it all ? no body believes it to be in the Nation , and it cannot well be all transported , the Penalties for so doing being so great . The case is plain , it being exported , as I verily believe little of it is , the Melting-Pot devours all . The rather , because that Practice is so easie , profitable , and safe from all possibility of being detected , as every one knows it is . And I know no intelligent Man who doubts , but the New Money goes this way . Silver and Gold , like other Commodities , have their ebbings and flowings : Upon the arrival of Quantities from Spain , the Mint commonly gives the best price ; that is , coyned Silver , for uncoyned Silver , weight for weight . Wherefore is it carried into the Tower , and coyned ? not long after there will come a demand for Bullion , to be Exported again : If there is none , but all happens to be in Coyn , What then ? Melt it down again ; there 's no loss in it , for the Coyning cost the Owners nothing . Thus the Nation hath been abused , and made to pay for the twisting of straw , for Asses to eat . If the Merchant were made to pay the price of the Coynage , he would not have sent his Silver to the Tower without Consideration ; and coyned Money would always keep a value above uncoyned Silver : which is now so far from being the case , that many times it is considerably under , and generally the King of Spain's Coyn here is worth One penny per Ounce more than our New Money . This Nation , for many Years last past , hath groaned , and still groans under the abuse of clipt Money , which with respect to their Wisdom , is a great mistake ; and the Irish whom we ridicule so much , when in Peace , would not be so gulled , but weighed their ( Pieces of Eight ) Cobbs , as they call them , Piece by Piece ; this Errour springs from the same Source with the rest , and needs no other Cure then will soon result from Non-currency . Whereof I shall set down my thoughts . There is great fear , that if clipt Money be not taken , there will be no Money at all . I am certain , that so long as clipt Money is taken , there will be little other : And is it not strange , that scarce any Nation , or People in the whole World , take diminisht Money by Tale , but the English ? What is the reason that a New Half-crown-piece , if it hath the least snip taken from the edge , will not pass ; whereas an Old Half-crown clipt to the very quick , and not intrinsically worth Eighteen Pence , shall be currant ? I know no reason , why a Man should take the one , more than the other ; I am sure , that if New Money should pass clipt , there would soon be enough served so . And I do not in the least doubt , unless the currency of clipt Money be stopt , it will not be very long before every individual piece of the Old Coynes be clipt . And if this be not remedied , for fear of the Evil now , how will it be born hereafter , when it will be worse ? surely at length it will become insupportable , and remedy itself as Groats have done ; but let them look out , in whose time it shall happen ; we are all shoving the Evil-Day as far off as may be , but it will certainly come at last . I do not think the great Evil is so hard to be remedied , nor so chargeable as some have judged ; but if rightly managed , it may be done with no intolerable loss , some there will be , and considerable ; but when I reflect where it will fall , I cannot think it grievous . The general Opinion is , That it cannot be done otherwise , then by calling in of all the Old Money , and changing of it , for doing which the whole Nation must contribute by a general Tax ; but I do not approve of this way , for several Reasons . For it will be a matter of great trouble , and will require many hands to execute , who will expect , and deserve good pay ; which will add to the Evil , and increase the Charge of the Work ; and the Trust of it , is also very great , and may be vastly abused . Now before I give any Opinion for the doing this thing , let some estimate be made of the loss , wherein I will not undertake to compute the Total , but only how the same may fall out in One Hundred Pound : There may be found in it Ten Pound of good New Money , then rests Ninety Pound ; and of that I will suppose half to be clipt Money , and half good ; so there will be but Five and Forty , in One Hundred Pounds , whereupon there will be any loss ; and that will not surely be above a Third part : so I allow 15 l. per Cent. for the loss by clipt Money , which is with the most , and in such Computes , it is safest to err on that side . Now in case it should be thought fit , that the King should in all the Receipts of the Publick Revenue , forbid the taking of clipt Coyn , unless the Subject were content to pay it by weight at 5 s. 2 d. per Ounce , every Piece being cut in Two , ( which must be especially and effectually secured to be done ) I grant it would be a great surprize , but no great cause of Complaint when nothing is required , but that the Publick Revenue may be paid in lawful English Money . And those who are to make Payments , must either find good Money , or clip in two their cropt Money , and part with it on such terms ; by this Example it would likewise be found , that in a short time , all Men would refuse clipt Money in common Payment . Now let us consider , where the loss would light , which I have estimated to be about 15 per Cent. We are apt to make Over estimates of the Quantities of current Money ; for we see it often , and know it not again ; and are not willing to consider how very a little time it stays in a place ; and altho' every one desires to have it , yet none , or very few care for keeping it , but they are forthwith contriving to dispose it ; knowing that from all the Money that lies dead , no benefit is to be expected , but it is a certain loss . The Merchant and Gentleman keep their Money for the most part , with Goldsmiths , and Scriveners ; and they , instead of having Ten Thousand Pounds in Cash by them , as their Accounts shew they should have , of other Mens ready Money , to be paid at sight , have seldom One Thousand in Specie ; but depend upon a course of Trade , whereby Money comes in as fast as it is taken out : Wherefore I conclude , that the Specifick Money of this Nation is far less than the common Opinion makes . Now suppose all the loss by clipt Money should happen and fall where the Cash is , it would be severe in very few Places . It could do no great harm to Hoards of Money ; because those who intend to keep Money , will be sure to lay up that which is good . It would not signifie much to the poor Man , for he many times hath none ; and for the most part , if he hath any , it is very little , seldome Five Shillings at a time . The Farmer is supposed to pay his Landlord , as fast as he gets Money ; so it is not likely he should be catcht with much : Wherefore it will light chiefly upon Trading Men , who may sometimes be found with Hundreds by them ; and frequently not with many Pounds . Those who happen to have such great Cashes at such time would sustain loss . In short , clipt Money is an Evil , that the longer it is born with , the harder will the Cure be . And if the Loss therein be lain on the Publick , ( as the Common Project is ) the Inconveniences are ( as hath been shewed ) very great ; but in the other way of Cure it is not such a terrìble Grievance , as most Men have imagined it would be . So to conclude , when these Reasons , which have been hastily and confusedly set down , are duly considered , I doubt not but we shall joyn in one uniform Sentiment : That Laws to hamper Trade , whether Forreign , or Domestick , relating to Money , or other Merchandizes , are not Ingredients to make a People Rich , and abounding in Money , and Stock . But if Peace be procured , easie Justice maintained , the Navigation not clogg'd , the Industrious encouraged , by indulging them in the participation of Honours , and Imployments in the Government , according to their Wealth and Characters , the Stock of the Nation will increase , and consequently Gold and Silver abound , Interest be easie , and Money cannot be wanting . Postscript . Upon farther Consideration of the Foregoing Matters , I think fit to add the following Notes . WHEN a Nation is grown Rich , Gold , Silver , Jewels , and every thing useful , or desirable , ( as I have already said ) will be plentiful ; and the Fruits of the Earth will purchase more of them , than before , when People were poorer : As a fat Oxe in former Ages , was not sold for more Shillings , than now Pounds . The like takes place in Labourers Wages , and every thing whatever ; which confirms the Universal Maxim I have built upon , viz. That Plenty of any thing makes it cheap . Therefore Gold and Silver being now plentiful , a Man hath much more of it for his labour , for his Corn , for his Cattle , &c. then could be had Five Hundred Years ago , when , as must be owned , there was not near so much by many parts as now . Notwithstanding this , I find many , who seem willing to allow , that this Nation at present , abounds with Gold and Silver , in Plate and Bullion ; but are yet of Opinion , That coyned Money is wanted to carry on the Trade , and that were there more Specifick Money , Trade would increase , and we should have better Markets for every thing . That this is a great Error , I think the foregoing Papers makes out : but to clear it a little farther , let it be considered , that Money is a Manufacture of Bullion wrought in the Mint . Now if the Materials are ready , and the Workmen also , 't is absurd to say , the Manufacture is wanted . For instance : Have you Corn , and do you want Meal ? Carry the Corn to the Mill , and grind it . Yes ; but I want Meal , because others will not carry their Corn ; and I have none : say you so ; then buy Corn of them , and carry it to the Mill your self . This is exactly the Case of Money . A very rich Man hath much Plate , for Honour and Show ; whereupon a poorer Man thinks , if it were coyned into Money , the Publick , and his self among the rest , would be the better for it ; but he is utterly mistaken ; unless at the same time you oblige the rich Man to squander his new coyn'd Money away . For if he lays it up , I am sure the matter is not mended : if he commutes it for Diamonds , Pearl , &c. the Case is still the same ; it is but changed from one hand to another : and it may be the Money is dispatcht to the Indies to pay for those Jewels : then if he buys Land , it is no more than changing the hand , and regarding all Persons , except the Dealers only , the Case is still the same . Money will always have an Owner , and never goeth a Beggar for Entertainment , but must be purchast for valuable consideration in solido . If the use of Plate were prohibited , then it were a sumptuary Law , and , as such , would be a vast hindrance to the Riches and Trade of the Nation : for now seeing every Man hath Plate in his House , the Nation is possest of a solid Fund , consisting in those Mettals , which all the World desire , and would willingly draw from us ; and this in far greater measure than would be , if Men were not allowed that liberty . For the poor Tradesman , out of an ambition to have a Piece of Plate upon his Cupboard , works harder to purchase it , than he would do if that humour were restrain'd , as I have said elsewhere . There is required for carrying on the Trade of the Nation , a determinate Sum of Specifick Money , which varies , and is sometimes more , sometimes less , as the Circumstances we are in requires . War time calls for more Money than time of Peace , because every one desires to keep some by him , to use upon Emergencies ; not thinking it prudent to rely upon Moneys currant in dealing , as they do in times of Peace , when Payments are more certain . This ebbing and flowing of Money , supplies and accommodates itself , without any aid of Politicians . For when Money grows scarce , and begins to be hoarded , then forthwith the Mint works , till the occasion be filled up again . And on the other side , when Peace brings out the Hoards , and Money abounds , the Mint not only ceaseth , but the overplus of Money will be presently melted down , either to supply the Home Trade , or for Transportation . Thus the Buckets work alternately , when Money is scarce , Bullion is coyn'd ; when Bullion is scarce , Money is melted . I do not allow that both should be scarce at one and the same time ; for that is a state of Poverty , and will not be , till we are exhausted , which is besides my subject . Some have fancied , that if by a Law the Ounce of Silver were restrained to 5 s. value , in all dealings , and at the Tower the same were coyned into 5 s. 4 d. or 5 s. 6 d. per Ounce , all the Plate in England would soon be coyned . The answer to this , in short , is : That the Principle they build upon is impossible . How can any Law hinder me from giving another Man , what I please for his Goods ? The Law may be evaded a thousand ways . As be it so : I must not give , nor he receive above 5 s. per Ounce for Silver ; I may pay him 5 s. and present him with 4. d. or 6 d. more ; I may give him Goods in barter , at such , or greater profit ; and so by other contrivances , ad Infinitum . But put case it took effect , and by that means all the Silver in England were coyned into Money ; What then ? would any one spend more in Cloaths , Equipages , House-keeping , &c. then is done ? I believe not ; but rather the contrary : For the Gentry and Commonalty being nipt in their delight of seeing Plate , &c. in their Houses , would in all probability be dampt in all other Expences : Wherefore if this could be done , as I affirm it cannot , yet instead of procuring the desired effect , it would bring on all the Mischiefs of a sumptuary Law. Whenever the Money is made lighter , or baser in allay , ( which is the same thing ) the effect is , that immediately the price of Bullion answers . So that in reality you change the Name , but not the thing : and whatever the difference is , the Tenant and Debtor hath it in his favour ; for Rent and Debts will be paid less , by just so much as the intrinsick value is less , then what was to be paid before . For example : One who before received for Rent or Debt , 3 l. 2 s. could with it buy twelve Ounces , or a Pound of Sterling Silver ; but if the Crown-piece be worse in value than now it is , by 3 d. I do averr , you shall not be able to buy a Pound of such Silver under 3 l. 5 s. but either directly , or indirectly it shall cost so much . But then it is said , we will buy an Ounce for 5 , s. because 't is the Price set by the Parliament , and no body shall dare to sell for more . I answer , If they cannot sell it for more , they may coyn it ; And then what Fool will sell an Ounce of Silver for 5 s. when he may coyn it into 5 s. 5 d. ? Thus we may labour to hedge in the Cuckow , but in vain ; for no People ever yet grew rich by Policies ; but it is Peace , Industry , and Freedom that brings Trade and Wealth , and nothing else . FINIS . 
A54625	----	A treatise of taxes and contributions shewing the nature and measures of [brace] crown-lands, assessments, customs, poll-moneys, lotteries, benevolence, penalties, monopolies, offices, tythes, raising of coins, harth-money, excize, &c. : with several intersperst discourses and digressions concerning [brace] warres, the church, universities, rents and purchases, usury and exchange, banks and lombards, registries for conveyances, beggars, ensurance, exportation of money/wool, free-ports, coins, housing, liberty of conscience, &c. : the same being frequently applied to the present state and affairs of Ireland. Petty, William, Sir, 1623-1687. 1662 Approx. 190 KB of XML-encoded text transcribed from 47 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2003-01 (EEBO-TCP Phase 1). A54625 Wing P1938 ESTC R33399 13292188 ocm 13292188 98850 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A54625) Transcribed from: (Early English Books Online ; image set 98850) Images scanned from microfilm: (Early English books, 1641-1700 ; 1039:25) A treatise of taxes and contributions shewing the nature and measures of [brace] crown-lands, assessments, customs, poll-moneys, lotteries, benevolence, penalties, monopolies, offices, tythes, raising of coins, harth-money, excize, &c. : with several intersperst discourses and digressions concerning [brace] warres, the church, universities, rents and purchases, usury and exchange, banks and lombards, registries for conveyances, beggars, ensurance, exportation of money/wool, free-ports, coins, housing, liberty of conscience, &c. : the same being frequently applied to the present state and affairs of Ireland. Petty, William, Sir, 1623-1687. [16], 75, [3] p. Printed for N. Brooke ..., London : 1662. Attributed to William Petty by Wing. Includes index. Errata: p. [2]-[3] (at end) Reproduction of original in the Cambridge University Library. 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Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Taxation -- Ireland. Finance -- Ireland. Great Britain -- Politics and government -- 1660-1688. 2000-00 TCP Assigned for keying and markup 2001-08 Apex CoVantage Keyed and coded from ProQuest page images 2001-09 TCP Staff (Michigan) Sampled and proofread 2001-09 TCP Staff (Michigan) Text and markup reviewed and edited 2001-11 pfs Batch review (QC) and XML conversion A TREATISE OF Taxes & Contributions . Shewing the Nature and Measures of Crown-Lands . Assessements . Customs . Poll-Moneys . Lotteries . Benevolence . Penalties . Monopolies . Offices . Tythes . Raising of Coins . Harth-Money . Excize , &c. With several intersperst Discourses and Digressions concerning Warres . The Church . Universities . Rents & Purchases . Usury & Exchange . Banks & Lombards . Registries for Conveyances . Beggars . Ensurance . Exportation of Money . Exportation of Wool. Free-Ports . Coins . Housing . Liberty of Conscience , &c. The same being frequently applied to the present State and Affairs of IRELAND . London , Printed for N. Brooke , at the Angel in Cornhill . 1662. The Preface . YOung and vain persons , though perhaps they marry not primarily and onely on purpose to get Children , much less to get such as may be fit for some one particular vocation ; yet having Children , they dispose of them as well as they can according to their respective inclinations : Even so , although I wrote these sheets but to rid my head of so many troublesome conceits , and not to apply them to the use of any one particular People or Concernment ; yet now they are born , and that their Birth happened to be about the time of the Duke of Ormond's going Lord Lieutenant into Ireland , I thought they might be as proper for the consideration of that place , as of any other , though perhaps of effect little enough in any . Ireland is a place which must have so great an Army kept up in it , as may make the Irish desist from doing themselves or the English harm by their future Rebellions . And this great Army well , as well in times and matters of Peace as War , and understands the Interests as well of particular persons , as of all and every factions and parties struggling with each other in that Kingdom ; understanding withall the state of England , and also of several Forreign Nations , with reference to Ireland . 2. His Grace hath given fresh demonstration of his care of an English Interest in Ireland , and of his wisdom in reconciling the several cross concernments there so far as the same is possible . 3. His Graces Estate in Lands there is the greatest that ever was in Ireland , and consequently he is out of the danger incident to those Proreges , against whom Cambden sayes , Hibernia est semper querula ; there being no reason for ones getting more Land , who hath already the most of any . 4. Whereas some chief Governours who have gone into Ireland , chiefly to repair or raise fortunes , have withdrawn themselves again when their work hath been done , not abiding the clamors and complaints of the people afterwards : But his Grace hath given Hostages to that Nation for his good Government , and yet hath taken away aforehand all fears of the contrary . 5. His Grace dares do whatever he understands to be fitting , even to the doing of a single Subject Justice against a Confederate multitude ; being above the sinister interpretations of the jealous and querulous ; for his known Liberality and Magnificence shall ever keep him free from the clamor of the people , and his through-tried fidelity shall frustrate the force of any subdolous whisperings in the Ears of His Majesty . 6. His good acceptance of all ingenious endeavours , shall make the wise men of this Eastern England be led by his Star into Ireland , and there present him with their choicest advices , who can most judiciously select and apply them . Lastly , this great Person takes the great Settlement in hand , when Ireland is as a white paper , when there sits a Parliament most affectionate to his Person , and capable of his Counsel , under a King curious as well as careful of Reformation ; and when there is opportunity , to pass into Positive Laws whatsoever is right reason and the Law of Nature . Wherefore by applying those Notions unto Ireland , I think I have harped upon the right string , and have struck whilest the Iron is hot ; by publishing them now , when , if ever at all , they be useful . I would now advertise the world , that I do not think I can mend it , and that I hold it best for every mans particular quiet , to let it vadere sicut vult ; I know well , that res nolunt male administrari , and that ( say I what I will or can ) things will have their course , nor will nature be couzened : Wherefore what I have written ( as I said before ) was done but to ease and deliver my self , my head having been impregnated with these things by the daily talk I hear about advancing and regulating Trade , and by the murmurs about Taxes , &c. Now whether what I have said be contemned or cavilled at , I care not , being of the same minde about this , as some thriving men are concerning the profuseness of their Children ; for as they take pleasure to get even what they believe will be afterwards pissed against the wall , so do I to write , what I suspect will signifie nothing : Wherefore the race being not to the swift , &c. but time and chance happening to all men , I leave the Judgement of the whole to the Candid , of whose correction I shall never be impatient . The Index . AN Enumeration and description of the several Branches of the Publick Charge . Page 1 The Maintenance of Governours ought to be in greater splendour then private Callings can reach to . Ibidem The honour of being trusted , and the pleasure of being feared , is reward enough for some Offices . p. 2 The Pastorage of Souls ought to be a Publick Charge even upon a Civil Account . Ibid. The use of Schools and Universities , as they are a publick charge . 3 The common and general Causes , which encrease and aggravate the burthen of paying Taxes . 4 The Causes that excite Forreign and Offensive Wars . Ibid. The Causes of Defensive and Civil Wars . 5 A Cause of unnecessary Ecclesiastical Charge , is the not sizing of Parishes according to the Alterations which have been in Religion and Trade . 6 That five thousand Parishes are enough for England and Wales , so as to give unto each but a thousand Parishioners , and so as that none need go two miles to Church . 7 Antiquated Offices and overgrown Fees a Cause of unnecessary Charge in the Government , and administration of Justice . 8 Registers for Conveyances of Lands and Depositories for moveable Pawns , as also Banks of Money will lessen the Charge of Law-suits and Writings . 9 How the number of such as relate to the Faculty of Medicine may be adjusted . 10 How the number of Students in the Universities intending to make Learning the way of their livelihood may be adjusted . Ibid. An Use propounded sor the choice Parish-Children and Foundlings , to force on an useful Work , which hath hitherto been but perfunctorily pursued . Ibid. That the number of unnecessary Merchants and Retailers be retrenched . 11 The careful Maintenance and Education of exposed Children , and concealing their names and Families , is a matter of great consequence . Ibid. A Proposal of several Employments , for Beggars and such as have now no Work. 12 Great Works of Labour though in themselves unnecessary , are nevertheless of advantage to the Publick . 13 The mending of Highwayes , building Bridges and Causeys , and the making of Rivers Navigable in England , would make English Horses an exportable Commodity , and help to vend the Commodities of Ireland . Ibid. The Causes of unquiet bearing of Taxes , viz. 14 First , That the Sovereign exacts too much . 15 Secondly , That Assessments are unequally laid . Ibid. Thirdly , That the Moneys levied are vainly expended . Ibid. Fourthly , Or given to Favourites . Ibid. Fifthly , Ignorance of the Number , Trade , and Wealth of the People . 16 Sixthly , Obscurity about the right of imposing . Ibid. Seventhly , Fewness of People . Ibid. Eighthly , Scarcity of Money , and confusion of Coins . 17 Ninthly , That scarce an hundredth part of the Riches of this Nation is Coined Bullion . Ibid. Tenthly , The non-acceptance of Some Commodities in specie in discharge of Taxes . Ibid. The Consequences of a Tax too heavy if there be too much Money in a Nation , which may be ; or is there be too little , and that either in a State well or ill governed . 17 , 18 , 19 The first way of providing for the Publick Charge , is the excinding or setting apart of a proportion of the Territory , in the nature of Crown-Lands . 20 The second is taking away the same proportion of the Rents of all Lands . 21 The Nation is happy where either of the said two wayes is practised ab antiquo , and upon original agreement , and not exacted as a sudden contingent Surcharge upon the People . 21 The Owners of settled Rents bear the burthen of a Land-Tax , or Assessment , others probably gaining thereby . Ibid. A Land-Tax upon free Estates resolves into an Excize upon Consumptions . 22 Assessment upon Housing more uncertain then that of Land , Housing being of a double nature , viz. either an instrument of gain , or way of expence . Ibid. The heavy taxing of Housing no discouragement to new Buildings ; nor is the discouragement of new Buildings any means to prevent the populousness of a City Ibid. Prohibition to build upon new Foundations serves onely to fix the Ground-plot of a City . 23 The reason why the City of London removes its Ground-plot Westward . Ibid. That 't is probable the King of Englands Palace will in process of time be towards Chelsey . Ibid. That the present Seat of London will be the greatest Cohabitation of People ever whilst this Island is inhabited . 24 The nature and natural Measures of the Rent of Land , computed in Commodities of the growth of the said Land. Ibid. The Par between food or other proceed of Land , and Bullion or Coin. 25 The Par between Gold and Silver . Ibid. Gold and Silver are not natural Standards of the Values of the 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 . 26 The prime Denominations of the 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 are but two , viz. Land and Labour , as the Denominations of Money in England are Pounds , Shillings , Pence . Ibid. Of the Par between Land and Labour . Ibid. The reason of the number of years Purchase that Land is worth in several Countreys . 27 Why Land in Ireland is worth fewer years Purchase then in England . 27 , 28. The Description and Ratio formalis of Usury . 29 The same of Exchange . Ibid. The Measures of both . 29 , 30 Why Usury hath been limited more then Exchange . 30 A Parallel between the Changes of the Prince of Money , and that of Land. Ibid. How to compute and compare the Rents of Lands , in order to a just Land-Tax or Assessment . 31 The intrinsick value of Land is found by Surveys of the Quantity , Figure , and Scituation . Ibid. And by the Survey of the Quality , viz. its aptitude to bear ; first , precious Commodities ; secondly , the best of the kinde ; thirdly , most in quantity . Ibid. The extrinsick or accidental value depends upon the plenty of Money , luxurious or frugal living ; the Opinions Civil , Natural , and Religious of the People . Ibid. It is necessary to these Enquiries to know how to tell the Gold and Silver Coins of this present Age , and compare the same with that of former times . 32 How to compare not onely the Money of this present Age with that of the former , but the entire Riches of the present with the former People . Ibid. By the numbers of People , and the proportion of Money amongst them , the accidental values of Lands are to be computed . 33 How to proportion the Rates of a Commodity in one place , unto the Rates of the same in another place . Ibid. That the Day-wages of Labourers and several other of the most vulgar Tradesmen ought to be ascertain'd , and well adapted to the changes of time . Ibid. That though the difficulty of computing the contingent values of Land be great , yet there be greater reasons for undergoing it . 34 The nature of Credit , as the said word is commonly used among Tradesmen , and otherwise . Ibid. That the Sovereigns exact knowledge of the Subjects Estates would do them no harm . Ibid. A descriptiou of the Duty of Customs . 35 A Conjecture that Customs at first were a kinde of praemium for ensurance against Pyrates . Ibid. The measures of the said Duty upon exported Goods . 36 The inconvenience of too heavy Customs . Ibid. What Commodities may be forced to pay Customs . 37 The measures of Customs upon imported Goods . Ibid. The inconveniences of raising money , by the way of Customs . Ibid. A Proposal , that instead of Tunnage and Poundage upon shipped Goods , a Tunnage were paid out of the ships Fraight . 38 Or that the Customs were taken as an Ensurance - praemium . Ibid. Of prohibited Commodities in general . Ibid. Of prohibiting the exportation of Money and Bullion . 39 The said prohibition of Money serves as a sumptuary Law. Ibid. About the exportation of Wool. Ibid. The lessening of our Sheep-trade , and encrease of Corn-tillage is an expedient in this case for many reasons . 40 Other considerations tending to shew , that the too vehement prohibitions of Wool may be ineffectual ; or to do more harm then good 41 Of prohibiting Importations . Ibid. It were better to make and raise Commodities , though to burn them , then not to make them , or let the makers lose their Faculty , and be idle . Ibid. Of Free Ports , and in what cases they may do good or harm . 42 Of Poll-money , and the sorts of it . Ibid. The faults of the late Poll-moneys . 43 Of the most simple Poll-money , where all pay alike , its conveniencies and inconveniencies . Ibid. Of Poll-money upon Titles , Offices , and Faculties . 44 Harth-money is of the same nature with simple Poll-money , but both are rather Accumulative Excizes . 45 Grants for publick Lotteries are Taxes upon the people . Ibid. Why Lotteries ought not to be allowed but by good authority . Ibid. Raising of Money by Benevolence is a real Tax . 46 Three cases where the way of a Benevolence may be made good . Ibid Several reasons against it . 46 , 47 The several species of Penalties . 47 A doubt whether the Penalties set down in Moses Law ought to be inflicted now . 47 The proper use and reason of every sort of Penalty . 48 Perpetual Imprisonment is a kinde of slow death . 49 In what case death , mutilation , imprisonment , disgrace , &c. ought to be commuted for pecuniary mulcts . Ibid. The meaning of the double and multiple Restitutions mentioned in the Law of Moses . Ibid. Of the wayes for punishing or permitting Heterodox Believers in Religion . 50 That the Sovereign may do either . 51 That all Pseudodoxies whatsoever may be safely muzzled from doing harm by pecuniary mulcts . 51 , 52 That the Sovereign by punishing them with death , mutilations , or imprisonments , doth therein punish himself , and that too re infecta , very often . 51 That the Pastours ought in some measure to be punished for the errours and defections of their Flocks . 52 The true use of the Clergy is rather to be patterns of Holiness , then to teach men variety of Opinions de rebus divinis . 53 The substance of all that hath been said in this whole discourse about the Church . Ibid. The abuse of Penal Laws . 54 Of Monopolies . Ibid. The use and reason of instituting Monopolies . 55 A Digression about new Inventions , and the vexations incident to the Projectors of new practices . Ibid. Offices instituted by the State , with Fees of their own appointment , are of a parallel nature to Monopolies . 56 Why the Fees of Offices were great heretofore . Ibid. How Offices are become as a saleable Commodity . 57 Why many superfluous Offices are not abolished . Ibid. A description of Tythes in several particulars . 58 The causes why Tythes encrease . Ibid. The Rent of the Lands of England is but a quarter of the Expence of the people . 59 The Tythes in England are six times as much as they were four hundred years ago . Ibid. The Clergy are far richer now then they were in ancient times , and yet have less work to do . Ibid. The danger of too many Church men . 60 How to adjust the number of Church-men and Students in Divinity . Ibid. Tythes is now no Tax or burthen upon the people . 61 The way of Tythes is a good pattern for a Tax . Ibid , The way of paying Tythes in the City and Countrey is very disproportionable . 61 The inconveniences of contributing to the Publick Charge after the manner of Tythes . Ibid. A reason why the wayes of Taxing the people are often shifted . 62 The State gains in several Countreys by being the common Cashier , Usurer , Ensurer , Monopolist , &c. 63 The case of the Jews ( every where subject to great Taxes ) briefly stated . 64 The way of leavying an aliquot part of mens Estates very dangerous . Ibid. Alterations in the values of Coins is a Tax upon such as live by determined Rents , Pensions , Fees , &c. 65 What is embasing of Moneys , and what is not . Ibid. Of Tin and Copper money , as well curiously as coursly wrought . Ibid. Of the Tokens coined by retailing Shop-keepers . Ibid. What is Gold and Silver embased . 66 The reasons for embasing of money . Ibid. Reasons against the same . Ibid. What is properly raising of Money . 67 The effect of raising both domestick and forreign Coins . Ibid. Raising of money changes the species of moneys , but lessens the Bullion . Ibid. Why many wise States have raised their Moneys . 68 Raising of Forreign money to a double value , or abating the price of our Native commodities to half , is not all one , but the former is better . 69 The way of computing and comparing the prices of Commodities upon natural grounds . 69 , 70 Men are really and actually rich according to what they spend and enjoy in their own persons . 71 Excize being a Tax upon such riches , is a just way by which to defray the Publick Charge . Ibid. That a proportion ought to be pitched between the Expence or Consumption of the whole Nation , and the Publick Charge thereof . ib. Commodities ought not to be taxed until they be just ripe for Consumption . 72 Commodities of equal value may be unequally excized with justice . ibidem . Of accumulating the Excize of many things upon some one thing . Ibid. Whether Native Commodities exported ought to pay Excize . Ibid. The explication of Accumulative Excize . 73 Reason for accumulating the Excize of all things upon some one thing . Ibid. Why Beer ought not to be that one thing 74 Harth or Smoak-money is an Accumulative Excize , with the reasons for and against it . Ibid. Reasons in behalf of the Excize . 75 Of framing persons to be fit for great Trusts , as to be Cashiers , Store-keepers , Checques , &c. Ibid. CHAP. I. Of the several sorts of Publick Charges . THe Publick Charges of a State , are , That of its Defence by Land and Sea , of its Peace at home and abroad , as also of its honourable vindication from the injuries of other States ; all which we may call the Charge of the Militia , which commonly is in ordinary as great as any other Branch of the whole ; but extraordinary , ( that is , in time of War , or fear of War ) is much the greatest . 2. Another branch of the Publick Charge is , the Maintenance of the Governours , Chief and Subordinate ; I mean , such not onely as spend their whole time in the Execution of their respective Offices , but also who spent much in fitting themselves as well with abilities to that end , as in begetting an opinion in their Superiours of such their ability and trustworthiness . 3. Which Maintenance of the Governours is to be in such a degree of plenty and splendour , as private Endeavours and Callings seldom reach unto : To the end , that such Governours may have the natural as well as the artificial Causes of Power to act with . 4 For if a great multitude of men should call one of their number King , unless this instituted Prince , appear in greater visible splendour then others , can reward those that obey and please him , and do the contrary to others ; his Institution signifies little , even although he chance to have g●●●ter corporal or mental faculties , then any other of the number . 5. There be Offices which are but 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 , as Sheriffs , Justices of the Peace , Constables , Churchwardens , &c. which men may attend without much prejudice to their ordinary wayes of livelihood , and for which the honour of being trusted , and the pleasure of being feared , hath been thought a competent Reward . 6. Unto this head , the Charge of the administring Justice may be referred , as well between man and man , as between the whole State or Commonalty and particular members of it ; as well that of righting and punishing past injuries and crimes , as of preventing the same in time to come . 7. A third branch of the Publick Charge is , that of the Pastorage of mens Souls , and the guidance of their Consciences ; which , one would think ( because it respects another world , and but the particular interest of each man there ) should not be a publick Charge in this : Nevertheless if we consider how easie it is to elude the Laws of man , to commit unproveable crimes , to corrupt and divert Testimonies , to wrest the sense and meaning of the Laws , &c. there follows a necessity of contributing towards a publick Charge , wherewith to have men instructed in the Laws of God , that take notice of evil thoughts and designs , and much more of secret deeds , and that punisheth eternally in another world , what man can but slightly chastise in this . 8. Now those who labour in this publick Service , must also be maintained in a proportionable splendour ; and must withall have the means to allure men with some kinde of reward , even in this life ; forasmuch , as many heretofore followed even Christ himself but for the Loaves he gave them . 9. Another Branch is , the Charge of Schools and Universities , especially for so much as they teach above Reading , Writing , and Arithmetick ; these being of particular use to every man , as being helps and substitutes of Memory and Reason , Reckoning being of the latter , as Writing and Reading are of the former ; for whether Divinity , &c. ought to be made a private Trade , is to me a question . 10. 'T is true , that Schools and Colledges are now for the most part but the Donations of particular men , or places where particular men spend their money and time upon their own private accounts ; but no doubt it were not amiss , if the end of them were to furnish all imaginable helps unto the highest and finest Natural Wits , towards the discovery of Nature in all its operations ; in which sense they ought to be a publick Charge : The which Wits should not be selected for that work , according to the fond conceits of their own Parents and Friends , ( Crows that think their own Birds ever fairest ) but rather by the approbation of others more impartial ; such as they are , who pick from out of the Christians Children the ablest Instruments and Support of the Turkish Government . Of which Selections more hereafter . 11. Another Branch is , that of the Maintenance of Orphans , found and exposed Children , which also are Orphans ; as also of Impotents of all sorts , and moreover such as want employment . 12. For the permitting of any to beg is a more chargeable way of maintaining them whom the law of Nature will not suffer to starve , where food may possibly be had : Besides , it is unjust to let any starve , when we think it just to limit the wages of the poor , so as they can lay up nothing against the time of their impotency and want of work . 13. A last Branch may be , the Charge of High-wayes , Navigable Rivers , Aquaeducts , Bridges , Havens , and other things of universal good and concernment . 14. Other Branches may be thought on , which let other men either refer unto these , or adde over and above . For it suffices for my purpose to have for the present set down these the chief and most obvious of all the rest . CHAP. II. Of the Causes which encrease and aggravate the several sorts of Publick Charges . HAving thus spoken of the several sorts of Publick Charges , we shall next consider the Causes which encrease them both in general and in particular . Among the general Causes is , First , the unwillingness of the people to pay them ; arising from an opinion , that by delay and reluctancy they may wholly avoid them , with a suspition that what is imposed is too much , or that what is collected is embezelled or ill expended , or that it is unequally leavied and assessed . All these resolving into an unnecessary Charge to collect them , and of forcing their Prince to hardships towards the people . 2. Another Cause which aggravates Taxes is , the force of paying them in money at a certain time , and not in commodities , at the most convenient seasons . 3. Thirdly , Obscurities and doubts concerning the right of imposing . 4. Fourthly , Scarcity of Money , and Confusion of Coins . 5. Fifthly , Fewness of people , especially of Labourers and Artificers . 6. Sixthly , Ignorance of the numbers , Wealth and Trade of the people , causing a needless repetition of the charge and trouble of new additional Levies , in order to amend mistakes . 7. As to particulars . The Causes of encreasing the Military Charge are the same with those that enrease Wars , or fear of Wars , which are Forreign or Civil . 8. An Offensive Forreign War is caused by many , and those very various , secret , personal distastes coloured — with publick pretences ; of which we can say nothing , but that the common encouragement unto them particularly here in England is a false opinion , that our Countrey is full peopled , o● that if we wanted more Territory , we could take it with less charge from our neighbours , then purchase it from the Americans ; and a mistake , that the greatness and glory of a Prince lyeth rather in the extent of his Territory , then in the number , art , and industry of his people , well united and governed . And moreover , that it is more glorious to take from others by fraud or rapine , then to gain ones self out of the bowels of the Earth and Sea. 9. Now those States are free from Forreign Offensive Wars ( arising as abovesaid out of Personal and Private Causes ) where the chief Governours Revenue is but small , and not sufficient to carry on such Wars , the which if they happen to be begun , and so far carryed on , as to want more Contributions , then those who have the power to impose them , do commonly enquire what private persons and Ends occasioned the War , and so fall upon the Authors , rather then contribute to the Effect ; otherwise then to quench it . 10. Defensive Wars are caused from unpreparedness of the offended State for War , as when defective Stores are served into the Magazines by corrupt Officers at the rate of good ; when Armies are fasly Mustered ; when Souldiers are either Tenants or Servants to their Commanders , or else persons , who for their Crimes or Debts , want protection from Justice ; when the Officers are ignorant of their business , and absent from their Commands ; and withal afraid to punish , because unwilling to pay . Wherefore to be alwayes in a posture of War at home , is the cheapest way to keep off War from abroad . 11. The causes of Civil Wars here in Europe proceed very much from Religion , viz. the punishing of Believers heterodox from the Authorized way , in publike and open places , before great multitudes of ignorant people , with loss of life , liberty , and limbs , rather then by well proportioned tolerable pecuniary mulcts , such as every conscientious Non-Conformist would gladly pay , and Hypocrites by refusing , discover themselves to be such . 12. Civil Wars are likewise caused by peoples fansying , that their own uneasie condition may be best remedied by an universal confusion ; although indeed upon the upshot of such disorders they shall probably be in a worse , even although they survive and succeed , but more probably perish in the contest . 13. Moreover , the peoples believing that Forms of Government shall in a few years produce any considerable alteration as to the wealth of the Subject ; that the Form which is most ancient and present is not the best for the place ; that any established family or person is not better then any new pretender , or even then the best Election that can be made ; that Sovereignty is invisible , and that it is not certainly annexed unto some certain person or persons . 14. Causes of Civil War are also , that the Wealth of the Nation is in too few mens hands , and that no certain means are provided to keep all men from a necessity either to beg , or steal , or be Souldiers . Moreover , the allowing Luxury in some , whilst others starve . The dispensing of benefits upon casual and uncertain Motives , the giving vaste Emoluments to persons and parties of no certain visible merit . These are the things which cause animofities among the totter-headed multitude , who are the tinder that the sparks of a few Designers may easily inflame . 15. The Cause of Publick Charge in matters of Religion , are the not having changed the limits of Parishes and Cures with the Change of Religion from Popery , and with the Changes in Plantation and Trade . For now when the Ministers of the Gospel preach unto multitudes assembled in one place , may not Parishes be bigger ? that is , may not Flocks be more numerous , then when every particular sheep was , as heretofore , drest and shorn three or four times per annum by Shrift . If there be in England and Wales but about five millions of people , what needs more then 5000. Parishes ? that is 1000. Sheep under every Shepheard . Whereas in the middling Parishes of London there are about 5000. souls in each . Upon which account there needs be in England and Wales but a 1000. Parishes , whereas there are near 10000. 16. Now the saving of half the Parishes , would ( reckoning the Benefices one with another , but at 100l . per Annum a piece ) save 500000l . Besides , when the number of Parochial Parsons were halved , then there would need but half the present number of Byshops , Deans and Chapters , Colledges and Cathedralls , which perhaps would amount to two or three hundred thousand pounds more : And yet the Church of God would be more regularly served then now , and that without prejudice to that sacred , ancient Order of Episcopacy , and the way of their Maintenance by Tythes ; and all this in a method of greater Reformation and suitableness thereunto . 18. But suppose it be said , that in some wild Countreys , a thousand people do not live in a less scope of ground then of eight miles square . To which I answer , that there are few or no such places , the largest Parishes I know , being not more capacious then of three or four miles square , in which is no difficulty , for the people to meet once a week at some central place within that scope . 19. Moreover I say , that a Curate of small Learning , if of good life , and duly Ordained , may officiate in four Chappels of Ease every Sunday ; and the Preacher , who indeed should be a person of Learning and Eloquence , may preach every other Sunday in every of the said Chappels , by preaching in two of them one day , and in the other two , the other day : And this with Catechizing , and Extra-Lectures upon the Week-dayes , would perform as much as now is performed , and as much as by the blessing of God is necessary to salvation ; for the yoak of Christ is easie , and his burthen light . 20. But to put an end to this doubt ; I affirm , that if England and Wales were cut out in parcels of three miles square , there would be found few above four thousand such , of which to make Parishes . 21. Now if it be said , that the Alienation of these Tythes is Sacriledge ; I answer , that if the same be employed to defend the Church of God against the Turke and Pope , and the Nations who adhere to them , it is not at all ; or less , then to give ¾ . of the same to the Wives and Children of the Priests which were not in being when those allowances were set forth ? 21. If I had not an abhorrence from propounding the lessening of the Church Means , I could say , that the retrenching part of each remaining Parsons Tythes and Emoluments , and leaving him for part , to the free Contributions of his Flocks , were a way to promote the Gospel , and to give less offence to such as think that their whole maintenance should be made in that manner . 22. I might also say , that forasmuch as there be more Males then Females in England , ( the said disproportion pro tanto hindering procreation ) that it were good for the Ministers to return to their Caelibat ; or that none should be Ministers , whilst they were married , it being easie among five millions of people to finde out 5000. that could and would live single , that is , one in a thousand : And then our unmarried Parson might live as well with half , as now with the whole of his Benefice . 23. Alwayes provided , that though the number of Parishes , and the measure of Benefices were lessened , yet that the same ought to be done without dammage to the present Incumbents . 24. As for lessening the Charge of Offices relating to the Government and the Law , the same will consist in abolishing the superfluous , supernumerary , and antiquated ; and withall , in retrenching the Fees of others , to what the labour , art , and trust of their respective employments do require . For there be many Offices wholly executed by Deputies for small wages , whereas the Masters of them have ten times as much , although they know nothing either of what is done , or ought to be done in the business . 25. Now such Surplusages as these should be either restored unto the people who gave them unto the King , at a time when those Fees made up but a just reward for the Officer ; or else the King keeping them still might take them for so much toward the Publick Charge , but not give them away to stop the importunate suits of any particular person , in whom and in all his dependants , such benefits do but cause a laziness as to the true original gain of the Nation , and themselves in particular , together with a total negligence and ignorance of the publick good . 26. Many are the particulars that might be instanced of this kinde ; but my aim not being to prejudice any man in particular , I descend no lower , wishing onely that there might be an universal Reformation of what length of time hath warped awry , in which case no particular men are to be troubled ; for if all suffer , none suffers , and all men would be no poorer then now they are if they should lose half their Estates ; nor would they be a whit the richer if the same were doubled , the Ratio formalis of Riches lying rather in proportion then quantity . 27. To lessen the charge of Universities , unto which I adde the Inns of Court , which is not much , were to lessen the number of the Students in Divinity , Law and Medicine , by lessening the use of those Professions . Now having spoken already of Divinity , I come next to the Law , and say ; that if Registers were kept of all mens Estates in Lands , and of all the Conveyances of , and Engagements upon them ; and withal if publick Loan-Banks , Lombards , or Banks of Credit upon deposited money , Plate , Jewels , Cloth , Wooll , Silke , Leather , Linnen , Mettals , and other durable Commodities , were erected , I cannot apprehend how there could be above one tenth part of the Law-suits and Writings , as now there are . 28. And moreover , if by accompt of the people , of their Land and other wealth , the number of Lawyers and Scriveners were adjusted , I cannot conceive how their should remain above one hundredth part of what now are ; forasmuch as I have heard some affirm , that there be now ten times as many as are even now necessary ; and that there are now ten times as many Law-suits , as upon the abovementioned Reformation , there would be . It follows therefore , that upon the whole there would not need one in a hundred of the present number of Retainers to the Law , and Offices of Justice ; the occasions as well of crimes as injuries being so much retrenched . 29. As for Physicians , it is not hard by the help of the observations which have been lately made upon the Bills of Mortality , to know how many are sick in London by the number of them that dye , and by the proportions of the City to finde out the same of the Countrey ; and by both , by the advice of the learned Colledge of that Faculty to calculate how many Physicians were requisite for the whole Nation , and consequently , how many Students in that art to permit and encourage ; and lastly , having calculated these numbers , to adoptate a proportion of Chyrurgeons , Apothecaries , and Nurses to them , and so by the whole to cut off and extinguish that infinite swarm of vain pretenders unto , and abusers of that God-like Faculty , which of all Secular Employments our Saviour himself after he began to preach engaged himself upon . 30. Moreover , if it were agreed , what number of Divines , Physicians , and Civilians ( that is , of men bred in Universities ) were requisite to the publick service ? As suppose 13000. in the present way , and perhaps not above 6000. in that way of Retrenchment which we propound ; then supposing that but one in forty dyes per annum , it follows that less then 350. might suffice to be sent yearly out of the Universities : Where supposing they stay five years one with another , it followeth also that about 1800. is the number of Students fit to be allowed in the Universities at a time ; I mean , of such as intend to make Learning their Trade and way of Livelihood . 31. I might intimate , that if 1800. Students were enough , and that if there were 40000. Parish Children and Foundlings in England , it were probable that one in twenty of them might be of excellent wit and towardness . Now since the Publick may dispose of these Children as they please , and since there is Maintenance in both Universities for above 1800. what if our Professors of Art were in this manner selected and educated ? But of this but in transitu . 32. Hereunto may be added , that by reason of Loan Banks aforementioned , whereby the Credits and Estates of all Dealers may be known , and all the mysterious dangers of money prevented , and that by good Accompts of our growth , Manufacture , Consumption , and Importation , it might be known how many Merchants were able to mannage the Exchange of our superfluous Commodities with the same of other Countreys : And also how many Retailers are needful to make the subdistributions into every Village of this Nation , and to receive back their superfluities . Upon these grounds I presume a large proportion of these also might be retrenched , who properly and originally earn nothing from the Publick , being onely a kinde of Gamesters , that play with one another for the labours of the poor ; yielding of themselves no fruit at all , otherwise then as veins and arteries , to distribute forth and back the blood and nutritive juyces of the Body Politick , namely the product of Husbandry and Manufacture . 33. Now if the numerous Offices and Fees relating to the Government , Law , and Church , and if the number of Divines , Lawyers , Physicians , Merchants , and Retailers were also lessened , all which do receive great wages for little work done to the Publick , with how much greater ease would common expences be defrayed ? and with how much more equality would the same be assessed ? 34. We enumerated six Branches of the Publick Charge , and have slightly spoken how four of them might be lessened ; we come next to the other two Branches , whereof we shall rather recommend the augmentation . The first of these two Branches I call , generally speaking , Care of the Poor , consisting of Receptacles for the aged , blinde , lame , &c. in health ; Hospitals for noysome , chronical , curable and uncurable , inward and outward Diseases , With others for acute and contagious . Others for Orphans , found and exposed Children ; of which latter sort none should be refused , let the number be never so great , provided their names , families , and relations were well concealed : The choice of which Children being made at their being about eight or ten years old , might afford the King the fittest Instruments for all kinde of his Affairs , and be as firmly obliged to be his faithful servants as his own natural Children . 35. This is no new nor rare thing , onely the neglect of it in these Countreys , is rather to be esteemed a rare and new project : Nor is it unknown what excellent fruits there have been of this Institution , of which we shall say much more , upon another occasion hereafter . 36. When all helpless and impotent Persons were thus provided for , and the lazy and thievish restrained and punished by the Minister of Justice , it follows now , that we finde out certain constant Employments for all other indigent people , who labouring according to the Rules upon them , may require a sufficiency of food and raiment . Their Children also , ( if small and impotent ) as aforesaid , being provided for elsewhere . 37. But what shall these Employments be ? I answer , such as were reckoned as the sixth Branch of the Publick Expence , viz. making all High-wayes so broad , firm , and eaven , as whereby the charge and tedium of travelling and Carriages may be greatly lessened . The cutting and scowring of Rivers into Navigable ; the planting of usefull Trees for timber , delight , and fruit in convenient places : The making of Bridges and Cawseys . The working in Mines , Quarries , and Colleries . The Manufactures of Iron , &c. 38. I pitch upon all these particulars , first , as works wanting in this Nation ; secondly , as works of much labour , and little art ; and thirdly , as introductive of new Trades into England , to supply that of Cloth , which we have almost totally lost . In the next place it will be asked , who shall pay these men ? I answer , every body ; for if there be 1000. men in a Territory , and if 100. of these can raise necessary food and raiment for the whole 1000. If 200. more make as much commodities , as other Nations will give either their commodities or money for , and if 400. more be employed in the ornaments , pleasure , and magnificence of the whole ; if there be 200. Governours , Divines , Lawyers , Physicians , Merchants , and Retailers , making in all 900. the question is , since there is food enough for this-supernumerary 100. also , how they should come by it ? whether by begging , or by stealing ; or whether they shall suffer themselves to starve , finding no fruit of their begging , or being taken in their stealing be put to death another way ? Or whether they shall be given away to another Nation that will take them ? I think 't is plain , they ought neither to be starved , nor hanged , nor given away ; now if they beg , they may pine for hunger to day , and be gorged and glutted to morrow , which will occasion Diseases and evil habits , the same may be said of stealing ; moreover , perhaps they may get either by begging or stealing more then will suffice them , which will for ever after indispose them to labour , even upon the greatest occasion which may suddenly and unexpectedly happen . 39. For all these Reasons , it will be certainly the safer way to afford them the superfluity which would otherwise be lost and wasted , or wantonly spent : Or in case there be no overplus , then 't is fit to retrench a little from the delicacy of others feeding in quantity or quality ; few men spending less then double of what might suffice them as to the bare necessities of nature . 40. Now as to the work of these supernumeraries , let it be without expence of Foreign Commodities , and then 't is no matter if it be employed to build a useless Pyramid upon Salisbury Plain , bring the Stones at Stonehenge to Tower-Hill , or the like ; for at worst this would keep their mindes to discipline and obedience , and their bodies to a patience of more profitable labours when need shall require it . 41. In the next place , as an instance of the usefulness of what hath been propounded , I ask what benefit will the mending of High-wayes , the building of Bridges and Cawseys , with making of Rivers navigable produce , besides the pleasure and beauty of them ? To which I also answer , as an instance of the premises , that the same , together with the numerous missions of Cattle and Sheep out of Ireland , shall produce a vaste superfluity of English Horses , the which because they have the many excellent qualities of beauty , strength , courage , swiftness , and patience concentrated in them , beyond the Horses of other places , would be a very vendible Commodity all over Europe ; and such as depending upon the intrinsick nature of the English Soyle could not be counterfeited , nor taken away by others . Moreover , an Horse is such a Commodity as will carry both himself and his Merchant to the Market , be the same never so distant . CHAP. III. How the Causes of the unquiet bearing of Taxes may be lessened . WE have slighty gone through all the six Branches of the Publick Charge , and have ( though imperfectly and in haste ) shewn what would encrease , and what would abate them . We come next to take away some of the general Causes of the unquiet bearing of Taxes , and yielding to Contributions , viz. 2. 1. That the people think , the Sovereign askes more then he needs . To which we answer , 1. That if the Sovereign were sure to have what he wanted in due time , it were his own great dammage to draw away the money out of his Subjects hands , who by trade increase it , and to hoard it up in his own Coffers , where 't is of no use even to himself , but lyable to be begged or vainly expended . 3. 2. Let the Tax be never so great , if it be proportionable unto all , then no man suffers the loss of any Riches by it . For men ( as we said but now ) if the Estates of them all were either halfed or doubled , would in both cases remain equally rich . For they would each man have his former state , dignity , and degree ; and moreover , the Money leavied not going out of the Nation , the same also would remain as rich in comparison of any other Nation ; onely the Riches of the Prince and People would differ for a little while , namely , until the money leavied from some , were again refunded upon the same , or other persons that paid it : In which case every man also should have his chance and opportunity to be made the better or worse by the new distribution ; or if he lost by one , yet to gain by another . 4. 3. Now that which angers men most , is to be taxed above their Neighbours . To which I answer , that many times these surmizes are mistakes , many times they are chances , which in the next Tax may run more favourable ; and if they be by design , yet it cannot be imagined , that it was by design of the Sovereign , but of some temporary Assessor , whose turn it may be to receive the Talio upon the next occasion from the very man he has wronged . 5. 4. Men repine much , if they think the money leavyed will be expended on Entertainments , mangnificent Shews , triumphal Arches , &c. To which I answer , that the same is a refunding the said moneys to the Tradesmen who work upon those things ; which Trades though they seem vain and onely of ornament , yet they refund presently to the most useful ; namely , to Brewers , Bakers , Taylours , Shoemakers , &c. Moreover , the Prince hath no more pleasure in these Shews and Entertainments then 100000. others of his meanest Subjects have , whom , for all their grumbling , we see to travel many miles to be spectators of these mistaken and distasted vanities . 6. 5. The people often complain , that the King bestows the money he raises from the people upon his Favourites : To which we answer ; that what is given to Favourites , may at the next step or transmigration , come into our own hands , or theirs unto whom we wish well , and think do deserve it . 7. Secondly , as this man is a Favourite to day , so another , or our selves , may be hereafter ; favour being of a very slippery and moveable nature , and not such a thing as we need much to envy ; for the same way that — leads up an hill , leads also down the same . Besides , there is nothing in the Lawes or Customes of England , which excludes any the meanest mans Childe , from arriving to the highest Offices in this Kingdom , much less debars him from the Personall kindness of his Prince . 8. All these imaginations ( whereunto the vulgar heads are subject ) do cause a backwardness to pay , and that necessitates the Prince to severity . Now this lighting upon some poor , though stubborn , stiff-necked Refuser , charged with Wife and Children , gives the credulous great occasion to complain of Oppression , and breeds ill blood as to all other matters ; feeding the ill humours already in being . 9. 6. Ignorance of the Number , Trade , and Wealth of the people , is often the reason why the said people are needlesly troubled , viz. with the double charge and vexation of two , or many Levies , when one might have served : Examples whereof have been seen in late Poll-moneys ; in which ( by reason of not knowing the state of the people , viz. how many there were of each Taxable sort , and the want of sensible markes whereby to rate men , and the confounding of Estates with Titles and Offices ) great mistakes were committed . 10. Besides , for not knowing the Wealth of the people , the Prince knows not what they can bear ; and for not knowing the Trade , he can make no Judgment of the proper season when to demand his Exhibitions . 11. 7. Obscurities and doubts , about the right of imposing , hath been the cause of great and ugly Reluctancies in the people , and of Involuntary Severities in the Prince ; an eminent Example whereof was the Ship-money , no small cause of twenty years calamity to the whole Kingdom . 12. 8. Fewness of people , is real poverty ; and a Nation wherein are Eight Millions of people , are more then twice as rich as the same scope of Land wherein are but Four ; For the same Governours which are the great charge , may serve near as well , for the greater , as the lesser number . 13. Secondly , If the people be so few , as that they can live , Exsponte Creatis , or with little labour , such as is Grazing , &c. they become wholly without Art. No man that will not exercise his hands , being able to endure the tortures of the mind , which much thoughtfulness doth occasion . 14. 9. Scarcity of money , is another cause of the bad payment of Taxes ; for if we consider , that of all the wealth of this Nation , viz. Lands , Housing , Shipping , Commodities , Furniture , Plate , and Money , that scarce one part of an hundred is Coin ; and that perhaps there is scarce six millions of Pounds now in England , that is but twenty shillings a head for every head in the Nation . We may easily judge , how difficult it is for men of competent estates , to pay a Summe of money on a sudden ; which if they cannot compass , Severities , and Charges ensue ; and that with reason , though unluckie enough , it being more tolerable to undoe one particular Member , then to endanger the whole , notwithstanding indeed it be more tolerable for one particular Member to be undone with the whole , then alone . 15. 10. It seems somewhat hard , that all Taxes should be paid in money , that is , ( when the King hath occasion to Victual his Ships at Portsmouth ) that Fat Oxen , and Corn should not be received in kind , but that Farmers must first carry their Corn perhaps ten Miles to sell , and turn into money ; which being paid to the King , is again reconverted into Corn , fetcht many miles further . 16. Moreover , the Farmer for haste is forced to under-sell his Corn , and the King for haste likewise , is forced to over-buy his provisions . Whereas the paying in kinde , Pro Hic & Nunc , would lessen a considerable grievance to the poor people . 17. The next consideration shall be of the consequences , and effects of too great a Tax , not in respect of particular men , of which we have spoken before , but to the whole people in general : To which I say , that there is a certain measure , and proportion of money requisite to drive the trade of a Nation , more or less then which would prejudice the same . Just as there is a certain proportion of Farthings necessary in a small retail Trade , to change silver money , and to even such reckonings , as cannot be adjusted with the smallest silver pieces . For money , ( made of Gold and silver ) is to the 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 ( that is to the matter of our Food and Covering ) but as Farthings , and other local extrinsick money , is to the Gold and Silver species . 18. Now as the proportion of the number of Farthings requisite in comerse is to be taken from the number of people , the frequency of their exchanges ; as also , and principally from the value of the smallest silver pieces of money ; so in like maner , the proportion of money requisite to our Trade , is to be likewise taken from the frequency of commutations , and from the bigness of the payments , that are by Law or Custome usually made otherwise . From whence it follows , that where there are Registers of Lands , whereby the just value of each mans interest in them , may be well known ; and where there are Depositories of the 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 , as of Metals , Cloth , Linnen , Leather , and other Usefuls ; and where there are Banks of money also , there less money is necessary to drive the Trade . For if all the greatest payments be made in Lands , and the other perhaps down to ten pound , or twenty pound be made by credit in Lombars or Money-Banks : It follows , that there needs onely money to pay sums less then those aforementioned ; just as fewer Farthings are requisite for change , where there be plenty of silver two Pences , then where the least silver piece is six Pence . 19. To apply all this , I say , that if there be too much money in a Nation , it were good for the Commonalty , as well as the King , and no harm even to particular men , if the King had in his Coffers , all that is superflous , no more then if men were permitted to pay their Taxes in any thing they could best spare . 20. On the other side , if the largeness of a publick Exhibition should leave less money then is necessary to drive the Nations Trade , then the mischief thereof would be the doing of less work , which is the same as lessening the people , or their Art and Industry ; for a hundred pound passing a hundred hands for Wages , causes a 10000l . worth of Commodities to be produced , which hands would have been idle and useless , had there not been this continual motive to their employment , 21. Taxes if they be presently expended upon our own Domestick Commodities , seem to me , to do little harm to the whole Body of the people , onely they work a change in the Riches and Fortunes of particular men ; and particularly by transferring the same from the Landed and Lazy , to the Crafty and Industrious . As for example , if a Gentleman have let his Lands to Farm for a hundred pound per annum , for several years or lives , and he be taxed twenty pound per annum , to maintain a Navy ; then the effect hereof will be , that this Gentlemans twenty pound per annum , will be distributed amongst Seamen , Ship-Carpenters , and other Trades relating to Naval matters ; but if the Gentleman had his Land in his own hands , then being taxed a Fifth part , he would raise his Rents near the same proportion upon his under Tenants , or would sell his Cattle , Corn , and Wooll a Fifth part dearer ; the like also would all other subdependents on him do ; and thereby recover in some measure , what he paid . Lastly , but if all the money levied were thrown into the Sea , then the ultimate effect would onely be , that every man must work a fifth part the harder , or retrench a fifth part of his consumptions , viz. the former , if forreign Trade be improveable , and the latter , if it be not . 22. This , I conceive , were the worst of Taxes in a well policyed State ; but in other States , where is not a certain prevention of Beggary and Theevery , that is a sure livelihood for men wanting imployment ; there , I confess , an excessive Taxe , causes excessive and insuperable want , even of natural necessities , and that on a sudden , so as ignorant particular persons , cannot finde out what way to subsist by ; and this , by the law of Nature , must cause sudden effects to relieve it self , that is , Rapines , Frauds ; and this again must bring Death , Mutilations , and Impisonments , according to the present Laws which are Mischiefs , and Punishments , as well unto the State , as to the particular sufferers of them . CHAP. IV. Of the several wayes of Taxe , and first , of setting a part , a proportion of the whole Territory for Publick uses , in the nature of Crown Lands ; and secondly , by way of Assessement , or Land-taxe . BUt supposing , that the several causes of Publick Charge are lessened as much as may be , and that the people be well satisfied , and contented to pay their just shares of what is needfull for their Government and Protection , as also for the Honour of their Prince and Countrey : It follows now to propose the several wayes , and expedients , how the same may be most easily , speedily , and insensibly collected . The which I shall do , by exposing the conveniencies and inconveniences of some of the principal wayes of Levyings , used of later years within the several States of Europe : unto which others of smaller and more rare use may be referred . 2. Imagine then , a number of people , planted in a Territory , who had upon Computation concluded , that two Millions of pounds per annum , is necessary to the publick charges . Or rather , who going more wisely to work , had computed a twenty fifth part of the proceed of all their Lands and Labours , were to be the Excisium , or the part to be cut out , and laid aside for publick uses . Which proportions perhaps are fit enough to the affairs of England , but of that hereafter . 3. Now the question is , how the one or the other shall be raised . The first way we propose , is , to Excize the very Land it self in kinde ; that is , to cut out of the whole twenty five Millions , which are said to be in England and Wales , as much Land in specie , as whereof the Rack-rent would be two Millions , viz. about four Millions of Acres , which is about a sixth part of the whole ; making the said four Millions to be Crown Lands , and as the four Counties intended to be reserved in Ireland upon the forfeitures were . Or else to excize a sixth part of the rent of the whole , which is about the proportion , that the Adventurers and Souldiers in Ireland retribute to the King , as Quit Rents . Of which two wayes , the latter is manifestly the better , the King having more security , and more obliges ; provided the trouble and charge of this universal Collection , exceed not that of the other advantage considerably . 4. This way in a new State would be good , being agreed upon , as it was in Ireland , before men had even the possession of any Land at all ; wherefore whosoever buyes Land in Ireland hereafter , is no more concerned with the Quit Rents wherewith they are charged , then if the Acres were so much the fewer ; or then men are , who buy Land , out of which they know Tythes are to be paid . And truly that Countrey is happy , in which by Original Accord , such a Rent is reserved , as whereby the Publick charge may be born , without contingent , sudden , superadditions , in which lies the very Ratio of the burthen of all Contributions and Exactions . For in such cases , as was said before , it is not onely the Landlord payes , but every man who eats but an Egg , or an Onion of the growth of his Lands ; or who useth the help of any Artisan , which feedeth on the same . 5. But if the same were propounded in England , viz. if an aliquot part of every Landlords Rent were excinded or retrenched , then those whose Rents were settled , and determined for long times to come , would chiefly bear the burthen of such an Imposition , and others have a benefit thereby . For suppose A. and B. have each of them a parcel of Land , of equal goodness and value ; suppose also that A. hath let his parcel for twenty one years at twenty pound per annum , but that B. is free ; now there comes out a Taxe of a fifth part ; hereupon B. will not let under 25 l. that his remainder may be twenty , whereas A. must be contented with sixteen neat ; nevertheless the Tenants of A. will sell the proceed of their bargain at the same rate , that the Tenants of B. shall do . The effect of all this is ; First , that the Kings fifth part of B. his Farm , shall be greater then before . Secondly , that the Farmer to B. shall gain more then before the Taxe . Thirdly , that the Tenant or Farmer of A. shall gain as much as the King and Tenant to B. both . Fourthly , the Tax doth ultimately light upon the Landlord A. and the Consumptioners . From whence it follows , that a Land-taxe resolves into an irregular Excize upon consumptions , that those bear it most , who least complain . And lastly , that some Landlords may gain , and onely such whose Rents are predetermined shall loose ; and that doubly , viz. one way by the raising of their revenues , and the other by exhausting the prices of provisions upon them . 6. Another way is an Excisium out of the Rent of Houseing , which is much more uncertain then that of Land. For an House is of a double nature , viz. one , wherein it is a way and means of expence ; the other , as 't is an Instrument and Tool of gain : for a Shop in London of less capacity and less charge in building then a fair Dining-Room in the same House , unto which both do belong , shall nevertheless be of the greater value ; so also shall a Dungeon , Sellar , then a pleasant Chamber ; because the one is expence , the other profit . Now the way Land-taxe rates housing , as of the latter nature , but the Excize , as of the former . 7. We might sometimes adde hereunto , that housing is sometimes disproportionally taxed to discourage Building , especially upon new Foundations , thereby to prevent the growth of a City ; suppose London , such excessive and overgrown Cities being dangerous to Monarchy , though the more secure when the Supremacy is in Citizens of such places themselves , as in Venice . 8. But we say , that such checking of new Buildings signifies nothing to this purpose ; forasmuch as Buildings do not encrease , until the People already have increased : but the remedy of the abovementioned dangers is to be sought in the causes of the encrease of People , the which if they can be nipt , the other work will necessarily be done . But what then is the true effect of forbidding to build upon new foundations ? I answer to keep and fasten the City to its old seat and ground-plot , the which encouragement for new Buildings will remove , as it comes to pass almost in all great Cities , though insensibly , and not under many years progression . 9. The reason whereof is , because men are unwilling to build new houses at the charge of pulling down their old , where both the old house it self , and the ground it stands upon do make a much dearer ground-plot for a new house , and yet far less free and convenient ; wherefore men build upon new free foundations , and cobble up old houses , until they become fundamentally irreparable , at which time they become either the dwelling of the Rascality , or in process of time return to waste and Gardens again , examples whereof are many even about London . Now if great Cities are naturally apt to remove their Seats , I ask which way ? I say , in the case of London , it must be Westward , because the Windes blowing near ¾ . of the year from the West , , the dwellings of the West end are so much the more free from the fumes , steams , and stinks of the whole Easterly Pyle ; which where Seacoal is burnt is a great matter . Now if it follow from hence , that the Pallaces of the greatest men will remove Westward , it will also naturally follow , that the dwellings of others who depend upon them will creep after them . This we see in London , where the Noblemens ancient houses are now become Halls for Companies , or turned into Tenements , and all the Pallaces are gotten Westward ; Insomuch , as I do not doubt but that five hundred years hence , the Kings Pallace will be near Chelsey , and the old building of Whitehall converted to uses more answerable to their quality . For to build a new Royal Pallace upon the same ground will be too great a confinement , in respect of Gardens and other magnificencies , and withall a disaccommodation in the time of the work ; but it rather seems to me , that the next Palace will be built from the whole present contignation of houses at such a distance as the old Pallace of Westminster was from the City of London , when the Archers began to bend their bowes just without Ludgate , and when all the space between the Thames , Fleet-street , and Holborn was as Finsbury-Fields are now . 10. This digression I confess to be both impertinent to the business of Taxes , and in it self almost needless ; for why should we trouble our selves what shall be five hundred years hence , not knowing what a day may bring forth ; and since 't is not unlikely , but that before that time we may be all transplanted from hence into America , these Countreys being over-run with Turks , and made waste , as the Seats of the famous Eastern Empires at this day are . 11. Onely I think 't is certain , that while ever there are people in England , the greatest cohabitation of them will be about the place which is now London , the Thames being the most commodious River of this Island , and the seat of London the most commodious part of the Thames ; so much doth the means of facilitating Carriage greaten a City , which may put us in minde of employing our idle hands about mending the High-wayes , making Bridges , Cawseys , and Rivers navigable : Which considerations brings me back round into my way of Taxes , from whence I digrest . 12. But before we talk too much of Rents , we should endeavour to explain the mysterious nature of them , with reference as well to Money , the rent of which we call usury ; as to that of Lands and Houses , aforementioned . 13. Suppose a man could with his own hands plant a certain scope of Land with Corn , that is , could Digg , or Plough , Harrow , Weed , Reap , Carry home , Thresh , and Winnow so much as the Husbandry of this Land requires ; and had withal Seed wherewith to sowe the same . I say , that when this man hath subducted his seed out of the proceed of his Harvest , and also , what himself hath both eaten and given to others in exchange for Clothes , and other Natural necessaries ; that the remainder of Corn , is the natural and true Rent of the Land for that year ; and the medium of seven years , or rather of so many years as makes up the Cycle , within which Dearths and Plenties make their revolution , doth give the ordinary Rent of the Land in Corn. 14. But a further , though collaterall question may be , how much English money this Corn or Rent is worth ? I answer , so much as the money , which another single man can save , within the same time , over and above his expence , if he imployed himself wholly to produce and make it ; viz. Let another man go travel into a Countrey where is Silver , there Dig it , Refine it , bring it to the same place where the other man planted his Corn ; Coyne it , &c. the same person , all the while of his working for Silver , gathering also food for his necessary livelihood , and procuring himself covering , &c. I say , the Silver of the one , must be esteemed of equal value with the Corn of the other : the one being perhaps twenty Ounces , and the other twenty Bushels . From whence it follows , that the price of a Bushel of this Corn to be an Ounce of Silver . 15. And forasmuch as possibly there may be more Art and Hazzard in working about the Silver , then about the Corn , yet all comes to the same pass ; for let a hundred men work ten years upon Corn , and the same number of men , the same time , upon Silver ; I say , that the neat proceed of the Silver is the price of the whole neat proceed of the Corn , and like parts of the one , the price of like parts of the other . Although not so many of those who wrought in Silver , learned the Art of refining and coining , or out-lived the dangers and diseases of working in the Mines . And this also is the way of pitching the true proportion , between the values of Gold and Silver , which many times is set but by popular errour , sometimes more , sometimes less , diffused in the world ; which errour ( by the way ) is the cause of our having been pestred with too much Gold heretofore , and wanting it now . 16. This , I say , to be the foundation of equallizing and ballancing of values ; yet in the superstructures and practices hereupon , I confess there is much variety , and intricacy ; of which hereafter . 17. The world measures things by Gold and Silver , but principally the latter ; for there may not be two measures , and consequently the better of many must be the onely of all ; that is , by fine silver of a certain weight : but now if it be hard to measure the weight and fineness of silver , as by the different reports of the ablest Saymasters I have known it to be ; and if silver granted to be of the same fineness and weight , rise and fall in its price , and be more worth at one place then another , not onely for being farther from the Mines , but for other accidents , and may be more worth at present , then a moneth or other small time hence ; and if it differ in its proportion unto the several things valued by it , in several ages upon the increase and diminution thereof , we shall endeavour to examine some other natural Standards and Measures , without derogating from the excellent use of these . 18. Our Silver and Gold we call by severall names , as in England by pounds , shillings , and pence , all which may be called and understood by either of the three . But that which I would say upon this matter is , that all things ought to be valued by two natural Denominations , which is Land and Labour ; that is , we ought to say , a Ship or garment is worth such a measure of Land , with such another measure of Labour ; forasmuch as both Ships and Garments were the creatures of Lands and mens Labours thereupon : This being true , we should be glad to finde out a natural Par between Land and Labour , so as we might express the value by either of them alone as well or better then by both , and reduce one into the other as easily and certainly as we reduce pence into pounds . Wherefore we would be glad to finde the natural values of the Fee simple of Land , though but no better then we have done that of the usus fructus abovementioned , which we attempt as followeth . 19. Having found the Rent or value of the usus fructus per annum , the question is , how many years purchase ( as we usually say ) is the Fee simple naturally worth ? If we say an infinite number , then an Acre of Land would be equal in value to a thousand Acres of the same Land ; which is absurd , an infinity of unites being equal to an infinity of thousands . Wherefore we must pitch upon some limited number , and that I apprehend to be the number of years , which I conceive one man of fifty years old , another of twenty eight , and another of seven years old , all being alive together may be thought to live ; that is to say , of a Grandfather , Father , and Childe ; few men having reason to take care of more remote Posterity : for if a man be a great Grandfather , he himself is so much the nearer his end , so as there are but three in a continual line of descent usually co-existing together ; and as some are Grandfathers at forty years , yet as many are not till above sixty , and sic de caeteris . 20. Wherefore I pitch the number of years purchase , that any Land is naturally worth , to be the ordinary extent of three such persons their lives . Now in England we esteem three lives equal to one and twenty years , and consequently the value of Land , to be about the same number of years purchase . Possibly if they thought themselves mistaken in the one , ( as the observator on the Bills of Mortality thinks they are ) they would alter in the other , unless the consideration of the force of popular errour and dependance of things already concatenated , did hinder them . 21. This I esteem to be the number of years purchase where Titles are good , and where there is a moral certainty of enjoying the purchase . But in other Countreys Lands are worth nearer thirty years purchase , by reason of the better Titles , more people , and perhaps truer opinion of the value and duration of three lives . 22. And in some places , Lands are worth yet more years purchase by reason of some special honour , pleasures , priviledge or jurisdiction annexed unto them . 23. On the other hand , Lands are worth fewer years purchase ( as in Ireland ) for the following reasons , which I have here set down , as unto the like whereof the cause of the like cheapness in any other place may be imputed . First , In Ireland by reason of the frequent Rebellions , ( in which if you are conquered , all is lost ; or if you conquer , yet you are subject to swarms of thieves and robbers ) and the envy which precedent missions of English have against the subsequent , perpetuity it self is but forty years long , as within which time some ugly disturbance hath hitherto happened almost ever since the first coming of the English thither . 24. 2. The Claims upon Claims which each hath to the others Estates , and the facility of making good any pretence whatsoever by the favour of some one or other of the many Governours and Ministers which within forty years shall be in power there ; as also by the frequency of false testimonies , and abuse of solemn Oaths . 25. 3. The paucity of Inhabitants , there being not above the ⅕ . th . part so many as the Territory would maintain , and of those but a small part do work at all , and yet a smaller work so much as in other Countreys . 26. 4. That a great part of the Estates both real and personal in Ireland are owned by Absentees , and such as draw over the profits raised out of Ireland refunding nothing ; so as Ireland exporting more then it imports doth yet grow poorer to a paradox . 27. 5. The difficulty of executing justice , so many of those in power being themselves protected by Offices , and protecting others . Moreover , the number of criminous and indebted persons being great , they favour their like in Juries , Offices , and wheresoever they can : Besides the Countrey is seldom enough to give due encouragement to profound Judges and Lawyers , which makes judgements very casual ; ignorant men being more apt to be bold and arbitrary , then such as understand the dangers of it . But all this with a little care in due season might remedy , so as to bring Ireland in a few years to the same level of values with other places ; but of this also elsewhere more at large , for in the next place we shall come to Usury . CHAP. V. Of Usury . WHat reason there is for taking or giving Interest or Usury for any thing which we may certainly have again whensoever we call for it , I see not ; nor why Usury should be scrupled , where money or other necessaries valued by it , is lent to be paid at such a time and place as the Borrower chuseth , so as the Lender cannot have his money paid him back where and when himself pleaseth , I also see not . Wherefore when a man giveth out his money upon condition that he may not demand it back until a certain time to come , whatsoever his own necessities shall be in the mean time , he certainly may take a compensation for this inconvenience which he admits against himself : And this allowance is that we commonly call Usury . 2. And when one man furnisheth another with money at some distant place , and engages under great Penalties to pay him there , and at a certain day besides ; the consideration for this , is that we call Exchange or local Usury . As for example , if a man wanting : money at Carlisle in the heat of the late Civil Wars , when the way was full of Souldiers and Robbers , and the passage by Sea very long , troublesome , and dangerous , and seldom passed ; why might not another take much more then an 100l . at London for warranting the like summe to be paid at Carlisle on a certain day ? 3. Now the Questions arising hence are ; what are the natural Standards of Usury and Exchange ? As for Usury , the least that can be , is the Rent of so much Land as the money lent will buy , where the security is undoubted ; but where the security is casual , then a kinde of ensurance must be enterwoven with the simple natural Interest , which may advance the Usury very conscionably unto any height below the Principal itself . Now if things are so in England , that really there is no such security as abovementioned , but that all are more or less hazardous , troublesome , or chargeable to make , I see no reason for endeavoring to limit Usury upon time , any more then that upon place , which the practice of the world doth not , unless it be that those who make such Laws were rather Borrowers then Lenders : But of the vanity and fruitlessness of making Civil Positive Laws against the Laws of Nature , I have spoken elsewhere , and instanced in several particulars . 4. As for the natural measures of Exchange , I say , that in times of Peace , the greatest Exchange can be but the labour of carrying the money in specie , but where are hazards emergent uses for money more in one place then another , &c. or opinions of these true or false , the Exchange will be governed by them . 5. Parallel unto this , is something which we omit concerning the price of Land ; for as great need of money heightens Exchange , so doth great need of Corn raise the price of that likewise , and consequently of the Rent of the Land that bears Corn , and lastly of the Land itself ; as for example , if the Corn which feedeth London , or an Army , be brought forty miles thither , then the Corn growing within a mile of London , or the quarters of such Army , shall have added unto its natural price , so much as the charge of bringing it thirty nine miles doth amount unto : And unto perishable Commodities as fresh fish , fruits , &c. the ensurance upon the hazard of corrupting , &c. shall be added also ; and finally unto him that eats these things there ( suppose in Taverns ) shall be added the charge of all the circumstancial appurtenances of House-rent , Furniture , Attendance , and the Cooks skill as well as his labour to accompany the same . 6. Hence it comes to pass , that Lands intrinsically alike near populous places , such as where the perimeter of the Area that feeds them is great , will not onely yield more Rent for these Reasons , but also more years purchase then in remote places , by reason of the pleasure and honour extraordinary of having Lands there ; for — Omne tulit punctum qui miscuit utile dulci. 7. Having finished our digression upon the measures of the Rents and Values of Lands and Moneys , we now return to our second way of leavying Publick Charges , which was the taking of a proportion of the Rent , ( commonly called Assessment ) it follows next to speak of the way of computing the said Rents , otherwise then according to the bargains which a few men make one with another , through ignorance , haste , false suggestion , or else in their passion or drink : Although I acknowledge , that the medium or common result of all the bargains made within three years ( or other such Cycle of time , as within which all contingencies of Land revolve ) may be very sufficient to this purpose , being but the summe synthetically computed by casual opinions , as I would endeavour to cast up analytically by a distinct particularizing of the Causes . 8. 1. Therefore I propound a Survey of the Figures , Quantities , and Scituations of all the Lands both according to the civil bounds of Parishes , Farms , &c. and the natural distinctions thereof by the Sea , Rivers , ridges of Rocks , or Mountains , &c. 9. 2. I propound that the quality of each denomination were described by the Commodities it had usually born , in some Land , some sort of Timber , Grain , pulse or root growing more happily then in others : Also by the encrease of things sown or planted , which it hath yielded communibus annis ; and withall , the comparative goodness of the said Commodities not unto the common Standard money , but to one another . As for example ; if there be ten acres of Land , I would have it judged whether they be better for Hay or Corn ; if for Hay , whether the said ten Acres will bear more or less of Hay then ten other Acres ; and whether an hundred weight of the said Hay will feed or fatten more or less , then the same weight of other Hay , and not as yet comparing it to money , in which the value of the said Hay will be more or less , according to the plenty of money , which hath changed strangely since the discovery of the West Indies , and according to the multitudes of people living near this Land , together with the luxurious or frugal living of them ; and besides all , according to the Civil , Natural , and Religious Opinions of the said people : As for example , Eggs in the fore-part of Lent ( because their goodness and delicacy decayes before Lent be done ) being worth little in some Popish Countreys ; nor Swines flesh among the Jews , nor Hedgehogs , Frogs , Snails , Mushrooms , &c. to those that fear to eat them , as poisonous or unwholesome ; nor Currans and Spanish Wines , if they were all to be destroyed as the great thieves of this Nation , by an Edict of the State. 10. This I call a Survey or Inquisition into the intrinsick Values of Land , that of extrinsick or accidentall follows . We said , that the change of the store of money would change the rates of commodities according to our reckoning in names and words , ( pounds , shillings , and pence being nothing else ) as for example : If a man can bring to London an ounce of Silver out of the Earth in Peru , in the same time that he can produce a bushel of Corn , then one is the natural price of the other ; now if by reason of new and more easie Mines a man can get two ounces of Silver as easily as formerly he did one , then Corn will be as cheap at ten shillings the bushel , as it was before at five shillings caeteris paribus . 11. It behoves us therefore to have a way , whereby to tell the money of our Countrey ( which I think I have , and that in a short time , and without cost , and ( which is more ) without looking into particular mens pockets ; of which hereafter . ) Now if we know what Gold and Silver we had in England two hundred years ago , and could tell it again now ; and though we also knew the difference of our denominations then , when thirty seven shillings were made out the same quantity of Silver as sixty two are now ; also that of the alloy , labour in Coinage , remedies for weight and fineness , and duties to the King ; nay , if we also knew the Labourers wages then and now , yet all this would not shew the difference of the Riches of our Nation even in money alone . 12. Wherefore we must adde to the premises , the knowledge of the difference of the numbers of the people , and conclude , that if all the money in the Nation were equally divided amongst all the people both then and now , that that time wherein each Devisee had wherewith to hire most labourers , was the richer . So that we want the knowledge of the People and Bullion which is now in this Land , and which was heretofore ; all which I think may be found out even for the time past , but more probably for the time present and to come . 13. But to proceed ; suppose we had them , then we would pitch the accidental values upon our Lands about London ; as thus , viz. We would first at hazzard compute the materials for food and covering , which the Shires of Essex , Kent , Surrey , Middlesex and Hertford , next circumjacent to London , did communibus annis produce ; and would withal compute the Consumptioners of them living in the said five Shires and London . The which if I found to be more then were the Consumptioners living upon the like scope of other Land , or rather upon as much other Land as bore the like quantity of Provisions . Then I say , that Provisions must be dearer in the said five Shires then in the other ; and within the said Shires cheaper or dearer as the way to London was more or less long , or rather more or less chargeable . 14. For if the said five Shires did already produce as much Commodity , as by all endeavour was possible : then what is wanting must be brought from a far , and that which is near , advanced in price accordingly ; or if by the said Shires by greater labour then now is used , ( as by digging instead of Ploughing , setting instead of sowing , picking of choice seed instead of taking it promiscuously , steeping it instead of using it wholly unprepared , and manuring the ground with salt instead of rotten straw , &c. ) then will the Rent be as much more advanced , as the excess of encrease exceeds that of the labour . 15. Now the price of labour must be certain , ( as we see it made by the Statutes which limit the day wages of several workmen , ( the non-observance of which Laws , and the not adapting them to the change of times , is by the way very dangerous , and confusive to all endeavours of bettering the Trade of the Nation . 16. Moreover , the touchstone to try whether it be better to use those improvements or not , is to examine whether the labour of fetching these things even from the places where they grow wilde , or with less Culture , be not less then that of the said improvements . 17. Against all this will be objected , that these computations are very hard if not impossible to make ; to which I answer onely this , that they are so , especially if none will trouble their hands or heads to make them , or give authority for so doing : But withall , I say , that until this be done , Trade will be too conjectural a work for any man to employ his thoughts about ; for it will be the same wisdom in order to win with fair Dice , to spend much time in considering how to hold them , how much to shake them , and how hard to throw them , and on what angles they should hit the side of the Tables , as to consider how to advance the Trade of this Nation ; where at present particular men get from their neighbours ( not from the earth and sea ) rather by hit then wit , and by the false opinions of others ; rather then their own judgements ; Credit every where , but chiefly in London , being become a meer conceit , that a man is responsible or not , without any certain knowledge of his Wealth or true Estate . Whereas I think the nature of credit should be limited onely to an opinion of a mans faculties to get by his art and industry . The way of knowing his Estate being to be made certain , and the way of making him pay what he owes to the utmost of his ability , being to be expected from the good execution of our Laws . 18. I should here enlarge upon a Paradox , to prove that if every mans Estate could be alwayes read in his forehead , our Trade would much be advanced thereby , although the poorer ambitious man be commonly the more industrious . But of this elsewhere . 19. The next objection against this so exact computation of the Rents and works of Lands , &c. is , that the Sovereign would know too exactly every mans Estate ; to which I answer , that if the Charge of the Nation be brought as low as it may be , ( which depends much upon the people in Parliament to do ) and if the people be willing and ready to pay , and if care be taken , that although they have not ready money , the credit of their Lands and Goods shall be as good ; and lastly , that it would be a great discommodity to the Prince to take more then he needs , as was proved before ; where is the evil of this so exact knowledge ? And as for the proportion of every Contributor , why should any man hope or accept to ease himself by his craft and interest in a confusion ? or why should he not fear , though he may be advantaged this time , to suffer in the next . CHAP. VI. Of Customs and Free Ports . CUstom is a Contribution or Excisium out of Goods sent out or imported into the Princes Dominions : In these Countreys of a twentieth part not according to the Prices currant among Merchants of each respective Commodity , but according to other standing Rates set by the State , though advised for the most part by concerned Persons . 2. I cannot well imagine what should be the natural Reasons , why a Prince should be paid this duty inward and outward both ; there seems indeed to be some , why he should be paid for indulging the Exportation of some such things as other Countreys do really want . 3. Wherefore I think , that Customs at the first were a praemium allowed the Prince for protecting the Carriage of Goods both inward and outward from the Pyrats ; and this I should verily believe , if the Prince were bound to make good losses of that kinde . And I thought that the proportion of five pound per cent . was pitched upon computation , that the Merchants before the said undertaking and composition , had usually lost more by Pyracy : And finally , that the Customs had been an ensurance upon losses by enemies , as the ensurance now usual , is of the casualties of sea , winde , weather , and Vessel , or altogether ; or like the ensurance in some Countreys of Houses from Fires for a certain small part of their yearly Rent . But be it what it will , it is anciently established by Law , and ought to be paid until it shall be abolished . Onely I take leave as an idle Philosopher to discourse upon the Nature and Measures of it . 4. The Measures of Customs outwards may be such , as after reasonable profit to the Exporter will leave such of our own Commodities as are necessary to Forreigners somewhat cheaper unto them then they can be had from elsewhere . As for example , Tin is a Native Commodity , which governs the Market , that is , there is none so good and so easie to be had and exported . Now suppose Tin might be made in Cornwall for four pence the pound , and that the same would yield twelve pence at the nearest part in France , I say , that this extraordinary profit ought to be esteemed as a Mine Royal , or Tresor Trovè , and the Sovereign ought to have his share in it : Which he will have , by imposing so great a duty upon Tin Exported , as on one side may leave a subsistence to the Workmen , ( and no more ) with a competent profit to the owners of the ground ; and on the other side , may leave the price abroad less then that for which Tin may be had from any other place . 5. The same Imposition might also be made on the Tin spent at home , unless it be as impossible so to do , as for the King of France to impose the Gabel upon Salt in the very places where it is made . 6. But it is observed , that such high duties make men endeavour not to enter any such Goods at all , or pay for them , provided the charge of smuckling and bribing , with the hazzard of being seized do not communibus vi●ibus exceed the Duty . 7. Wherefore the Measures of this Nature are , that it be more easie , safe , and profitable for men to keep the Law , then to break it , unless it be in such cases , where the Magistrate can with certainty execute the Law. As for example , it would be hard to save the Duties upon Horses shipped at a small Port , without adjacent Creeks , and that but some certain two hours every Tide , forasmuch as Horses cannot be disguised , put up in bags or cask , nor shipped without noise and the help of many hands . 8. The Measures of Customs upon imported Commodities are ; 1. That all things ready and ripe for Consumption may be made somewhat dearer then the same things grown or made at home ; if the same be feasible caeteris talibus . 2. That all Superfluities tending to Luxury and sin , might be loaded with so much Impost , as to serve instead of a sumptuary Law to restrain the use of them . But here also care is to be had that it be not better to smuckle then to pay . 9. On the contrary , all things not fully wrought and Manufactured , as raw Hides , Wool , Beaver , Raw-silk , Cotton ; as also all Tools and Materials for Manufacture , as also Dying-stuff , &c. ought to be gently dealt with . 10. If to leavy the payment of these Duties could be most exactly performed , Princes might strangely practice one upon another ; wherefore since they cannot , the people pay no more then they cannot with greater safety upon the whole matter save , nor observe any more of these Laws , then they cannot elude . 11. The Inconveniences of the way of Customs , are , viz. 1. That Duties are laid upon things not yet ripe for use , upon Commodities in fieri , and but in the way of their full improvements , which seems the same ill-husbandry , as to make fuel of young Saplings , instead of Dotards and Pollards . 2. The great number of Officers requisite to Collect the said Duies , especially in a Countrey where the Harbours are many , and the Tides convenient for shipping of Goods at any time . 3. The great facility of smuckling by Briberies , Collusions . hiding and disguising of Commodities , &c. and all this notwithstanding Oaths and Penalties , and withall by the several wayes of mitigating and taking off the said Penalties even after discovery . 4. The Customs or Duties upon the few Commodities of the growth of England exchanged with Forreigners , make too small a part of the whole Expence of the people of this Kingdom , which ( perhaps is not less then fifty millions of pounds per annum ) out of which to bear the common Charges thereof , so as some other way of Leavy must be practised together with it ; whereas by some one way , if the best , the whole work may be absolved : wherefore 't is an inconvenience in the way of Customs , that it necessitates other wayes then it self . 12. Now as a small attempt of a Remedy or Expedient herein , I offer rather , that instead of the Customs upon Goods shipped , every Ship that goes in or out , may pay a Tonnage , the same being collectible by a very few hands , as a matter visible to all the world ; and that the said Duty be but such a part of the Fraight , as the like whereof being excinded out of the whole Consumption , would defray all the Publique Charge ; which part perhaps is 4. per Cent. or thereabouts , viz. two millions per annum out of fifty . 13. The other is , that the Customs be reduced into the nature of an Ensurance - praemium , and that the same be augmented and fitted , as whereby the King may afford to ensure the goods as well against the Sea as Enemies ; by which means the whole Nation would be concerned in all such losses , and then the Merchant for his own sake would more willingly enter and pay for whatsoever he would have ensured . 14. But it will be here objected , that although the duty of Customs be abrogated , yet that there must be almost the same number of Officers maintained as now to prevent the bringing in and carrying out of prohibited Commodities . Wherefore we shall here state the nature of such Prohibitions by two or three grand instances . 15. To prohibit the Exportation of Money , in that it is a thing almost impracticable , it is almost nugatory and vain ; And the danger of it resolves either into a kinde of Ensurance answerable to the danger of being seized , or unto a Surcharge of a Composition by bribing the Searchers . As for example , If but one in fifty Exportations are seized , or if twenty shillings be usually taken for coining at fifty pounds , then the Commodities bought with this Money must be sold two at least per cent . the dearer to the Consumptioner . Now if the Trade will not bear this Surcharge , then Money will not be exported with discretion . Now the use of this Prohibition , supposing it practicable , is to serve as a sumptuary Law , and to binde the Nation in general not to spend more then they get ; for if we could export no Commodity of our own growth or manufacture then by prohibiting the going out of Money , it is also ipso facto commanded that nothing forreign should be brought in . Again supposing , that ordinarily we export enough to furnish us with all Forreign Commodities , but upon some extraordinary decay of our Land or hands , we are able to export but half as much as would procure our ordinary proportion of Forreign Goods , then the Prohibition of Money performs indeed the part of a sumptuary Law , in hindring us to bring n any more then half as much Forreign Commodities as we formerly used , onely it leaves it to the discretion of the Merchant , to chose which he will neglect or forbear to bring in , and w●ich not ; whereas in sumptuary Laws the State taketh this care upon themselves . As for example , If we wanted Exportations to ballance our Importations by forty thousand pounds , and suppose for examples sake , that the Importation of forty thousand pounds worth of Coffee-Berries , or the like of Spanish Wine must be retrenched ; in this case , the said Prohibition of Money will do one , or some of one , and some of the other as much harm as the Merchant himself pleases : But the sumptuary Law determines , whether we shall encourage and keep fair with the Nation that sends us Wine rather then that which sends us Coffee , whether the Expence of Wine or Coffee be most prejudicial to our people , &c. 16. The benefits alledged for the free Exportation of Money is m●●●rrily this , viz. That if a Ship carrying out of England forty thousand pounds worth of Cloth , might also carry with it forty thousand pounds in Money , then could the Merchant stand the stiffer upon his terms , and in fine would buy cheaper , and sell dearer ; but by the way , the Merchant buyes this power with the Intrest and of the Money he carries , which if it amount to five pound per Cent. then he had better sold his Goods at four pound per Cent. under rate , then to have fortified himself with Money as aforesaid . But of this more may be said , we hasten to the great point of Wool. 17. The Hollanders having gotten away our Manufacture of Cloth , by becoming able to work with more art , to labour and fare harder , to take less fraight , Duties and Ensurance , hath so madded us here in England , that we have been apt to think of such exorbitantly fierce wayes of prohibiting Wool and Earth to be exported , as perhaps would do us twice as much harm as the losse of our said Trade . Wherefore to return to our Wits and Trade again , before we can tell what to do in this case , we must consider ; 1. That we are often forced to buy Corn from abroad , and as often complain that we are pestered with abundance of idle hands at home , and withall that we cannot vend the Woollen Manufactures even which our few working hands do produce . In this case were it not better to lessen our sheep-trade , and convert our hands to more Tillage ? Because 1. Flesh becomming dearer , there would be encouragement for Fish , which will never be till then . 2. Our Money would not run so fast away for Corn. 3. We should have no such Gluts of Wool upon our hands . 4. Our idle hands would be employed in Tillage and Fishing , one man by the way of grazing , tilling as it were many thousand Acres of Land by himself and his Dog. 2. Suppose we wanted no Corn , nor had any idle hands , and yet that we abounded with more Wool then we can work up ; in this certainly Wool might be exported , because 't is supposed , that the hands which work are already employed upon a better Trade . 3. Suppose the Hollander outdo us by more art , were it not better to draw over a number of their choice Workmen , or send our most ingenious men thither to learn ; which if they succeed ; it is most manifest , that this were the more natural way , then to keep that infinite clutter about resisting of Nature , stopping up the windes and seas , &c. 4. If we can make Victual much cheaper here then in Holland , take away burthensome , frivolous , and antiquated Impositions and Offices . I conceive even this were better then to perswade Water to rise out of it self above its natural Spring . 5. We must consider in general , that as wiser Physicians tamper not excessively with their Patients , rather observing and complying with the motions of nature , then contradicting it with vehement Administrations of their own ; so in Politicks and Oconomicks the same must be used ; for Naturam expellas furcâ licet usque recurrit . 18. Nevertheless , if the Hollanders advantages in making Cloth be but small and few in comparison of ours , that is , if they have but a little the better of us , then I conceive that Prohibitions to export Wool may sufficiently turn the scales . But whether this be 〈◊〉 , I leave to others , being my self neither Merchant nor Statseman . 19. As for Prohibition of Importations , I say that it needs not be , until they much exceed our Exportations . For if we should think it hard to give good necessary Cloth for debauching Wines , yet if we cannot dispose of our Cloth to others , 't were better to give it for Wine or worse , then to cease making it ; nay , better to burn a thousand mens labours for a time , then to let those thousand men by non-employment lose their faculty of labouring . In brief , what may be further said hereupon , resolves into the Doctrine and Ingenium of making sumptuary Laws , and judicious use of them pro hic & nunc . 20. Unto this Discourse of Customs appertains that of Free Ports , which ( in a Nation that onely trades for it self , viz. vents its own superfluities , and imports onely Necessaries for it self ) are of no use , but rather harm ; for suppose Wines be brought into a Free Port , be there housed and privately sold , but the Cask filled up with stained water , and put on ship-board again to be staved as soon as the ship is out at sea : In this case , the Duties of those Wines are defrauded , as it also may be many other wayes . 21. Now if it be said , that although we should trade but for our selves , yet that our Ports ( being more commodious then those of other Nations ) would be the more frequented ; for being free , and consequently the more enriched , by the expence of Sea-men and Passengers , hire of Labourers , and Ware-houses , &c. even without any Custom at all upon the Goods . Nevertheless 't is reason that a small duty should be paid upon the ship as aforesaid for such use of our Ports , and that eo nomine ; not expecting all our Benefit from the said hire of Cellaridge , Porters , and Carmen , which also might be had over and above for their proper reasons . 22. But if we could attain to be the Merchants between other Nations , there is then no reason for exacting Duties ( as was said before ) upon things in fieri , and which are but in the way of their improvement : And as for the fraud that may be committed , as in the case of Wines abovementioned , I affirm that our Excize upon the Consumption , would overcome and elude them . CHAP. VII . Of Poll-money . POll-money is a Tax upon the Persons of men , either upon all simply and indifferently , or else according to some known Title or mark of distinction upon each ; and that either of bare honour , or else of some Office sought or imposed , or of some Faculty and Calling without respect to Riches or Poverty , Incomes or Expence , Gain or Loss accrewing by the said Title , Office , or Faculty . 2. The Poll-moneys which have been leavied of late have been wonderfully confused ; as taxing some rich single persons at the lowest rate ; some Knights , though wanting necessaries , at twenty pounds , encouraging some vain fellows to pay as Esquires , on purpose to have themselves written Esquires in the Receipts ; making some pay ten pounds as Doctours of Physick or Law , who get nothing by the Faculty , nor minde the practice ; making some poor Tradesmen forced to be of the Liveries of their Companies to pay beyond their strength ; and lastly , some to pay according to their Estates , the same to be valued by those that know them not ; thereby also giving opportunity to some Bankrupts to make the world credit them as men of such Estates , at which the Assessors did rate them by Collusion . 3. So as by this Confusion , Arbitraries , Irregularities , and hotch-pot of Qualifications , no estimate could be made of the fitness of this Plaister to the Sore , nor no Checque or way to examine whether the respective Receipts were duly accompted for , &c. 4. Wherefore wholly rejecting the said complicated way of Tax , I shall speak of Poll-money more distinctly , and first of the simple Poll-money upon every head of all mankiude alike ; the Parish paying for those that receive alms , Parents for their Children under age , and Masters for their Apprentices , and others who receive no wages . 5. The evil of this way is , that it is very unequal ; men of unequal abilities , all paying alike , and those who have greatest charges of Children paying most ; that is , that by how much the poorer they are , by so much the harder are they taxed . 6. The Conveniencies are ; first , that it may be suddenly collected , and with small charge : Secondly , that the number of the people being alwayes known , it may be sufficiently computed what the same will amount unto . Thirdly , It seems to be a spur unto all men , to set their Children to some profitable employment upon their very first capacity , out of the proceed whereof , to pay each childe his own Poll-money . 7. The next Poll-money is upon every head , but distinguished by Titles of meer Honour , without any kinde of Office or Faculty ; as , Dukes , Marquesses , Earls , Viscounts , Barons , Baronets , Knights , and Esquires , viz. the eldest Sons of Knights in perpetuum , and Gentlemen if they write themselves so . This way is much more equal then the other ; forasmuch as those who are Titled , are for the most part rich proportionably ; or if they were not , yet men so dignified shall command a preheminence and place , even although they do not or cannot buy it of the vulgar by their Expence : my meaning hereby is , that a Title may possibly save a man as much as his Poll-money may exceed the Plebeian Level by reason of such title . 8. Moreover , good and multiform Accompts being kept of the People , this Tax may be also easily speedily and inexpensively collected ; and also being capable of being computed aforehand , may be fitted and seized according to the needs of the Prince . 9. As for Offices , they are indeed Dignities for the most part , but paid for by the trouble of administring them ; as for example , to be an Alderman suppose of London , is indeed an honour , yet many pay five hundred pounds to be excused from receiving it . Nevertheless it may not be improper to tax Offices sought , or such as are accepted although they might be refused : And on the other side no Titulado should be forced to pay Poll-money according to his Title , if he be contented to lay it down , and never resume it more . 10. The Titles of Faculties and Callings ought to be no Qualification in a Poll-money , because they do not necessarily nor probably inferr ability to pay , but carry with them vaste inequalities . But therefore if a man by his Licence to practise get much , it may be presumed he will spend accordingly ; in which net the way of Excize will certainly take him , as it will all the Officers aforementioned . 11. Harth-money seems to be a Poll-money , but is not , be-being rather a way of Accumulative Excize ; of which hereafter . CHAP. VIII . Of Lotteries . MEn that accept Titles may foresee , that they may be taxed by them as aforesaid , ( although it be unlikely ( one House of Parliament being all Tituladoes , and the greatest part of the other being such also ) that any such way of Leavy should pass ) and therefore they do as it were à priori consent unto the Tax in their own Individuals . 2. Now in the way of Lottery men do also tax themselves in the general , though out of hopes of Advantage in particular : A Lottery therefore is properly a Tax upon unfortunate self-conceited fools ; men that have good opinion of their own luckiness , or that have believed some Fortune-teller or Astrologer , who had promised them great success about the time and place of the Lottery , lying Southwest perhaps from the place where the destiny was read . 3. Now because the world abounds with this kinde of fools , it is not fit that every man that will , may cheat every man that would be cheated ; but it is rather ordained , that the Sovereign should have the Guardianship of these fools , or that some Favourite should beg the Sovereigns right of taking advantage of such mens folly , even as in the case of Lunaticks and Idiots . 4. Wherefore a Lottery is not tollerated without authority , assigning the proportion in which the people shall pay for their errours , and taking care that they be not so much and so often couzened , as they themselves would be . 5. This way of Lottery is used but for small Leavies , and rather upon privato-publick accompts , ( then for maintaining Armies or Equipping Fleets , ) such as are Aque-Ducts , Bridges , and perhaps Highwayes , &c. Wherefore we shall say no more of it upon this occasion . CHAP. IX . Of Benevolence . THe raising of Money by Benevolence , seems to be no force upon any man , nor to take from any man but what himself knows he can spare , nevertheless there is more in it ; for to be but brow-beaten by a Prince or Grandee , proves often as heavy as to be distrained upon for an Assessement or Subsidy ; and the danger of being misrepresented by linsy Pick-thanks and Informers as disaffected to the Cause for which the Leavy is made , is more frequent then the payment of any summe in a due proportion with all other men ( which I have said is no impoverishment ) can possibly be hurtful . The benefits of this way are these , viz. That forasmuch as it sometimes falls out ( as in the late Differences with the Scots , annis 1638. and 1639. when the Church Dignitaries were most concerned ) that the cause of the Expence concerns some men more then others , that then an Imposition should not pass upon all for the sakes of a part : Sometimes it happens , that one sort of men have received greater and fresher favours then another ; as upon the late Restoration of his Majesty Anno 1660. those who needed an Act of Indempnity did : And sometimes it is visible , that some men have had better times of gain and advantages then others , as the Clergy most eminently have had since his Majesties said Restoration . In all these Cases , the proposal of a Benevolence may be offered , although in no cases it be without its inconveniencies ; the which are principally these . 1. The abovementioned Brow-beating and distaste given , if a man have not contributed as largely as envious observers think he should have done . 2. A Benevolence in many cases may divide a whole Nation into parties , or at least make the strength of Parties too well known to such as need not know it : and withall it may ( on the contrary and upon design ) disguize the same , and elude the measures which the Governours thought to have taken by such an exploratory artifice . 3. Some men may have particular reasons to contribute large , viz. complacency with , and hopes of being repaired by the favour of some Grandee , who favours the business , and the very same may make to the prejudice of others . 4. Men of sinking Estates , ( who nevertheless love to live high , and appear splendid , and such who make themselves friends , ( by their hospitality paid for , in effect by others ) enough to be protected , even from Justice ) do often upon this occasion of Benevolence set extravagant Examples unto others , who have laboured hardly for what they have ; those not caring what they pay , because it encreaseth their credit , to borrow the more , so as at length the whole burthen of such Bankrupts Benevolence , lights upon the frugal Patriots , by whom the Publique Weal subsists . CHAP. X. Of Penalties . THe usual Penalties are Death , Mutilations , Imprisonment , Publick disgrace , Corporal transient pains , and great Tortures , besides Pecuniary Mulcts . Of which last we shall most insist , speaking of the others but in order to examine whether they may not be commuted for these . 2. There be some certain Crimes , for which the Law of God appoints death ; and these must be punished with it , unless we say that those were but the Civil Laws of the Jewish Commonwealth , although given by God himself ; of which opinion certainly most modern States are , in as much as they punish not Adulteries , &c. with death , as among the Jewes , and yet punish small Thefts with Death instead of multiple reparation . 3. Upon this supposition we shall venture to offer ; whether the reason of simple Death be not to punish incorrigible Committers of great faults ? 4. Of publick Death with Torments , to affright men from Treasons , which cause the deaths and miseries of many thousand innocent and useful people ? 5. Of Death secretly executed , to punish secret and unknown Crimes , such as Publick Executions would teach to the World ? Or else to suffocate betimes some dangerous Novelties in Religion , which the patient suffering of the worst man would much spread and encourage . 6. Mutilations suppose of Ears , Nose , &c. are used for perpetual disgrace , as standing in the Pillory is for temporary and transient ; which and such other punishments have ( by the way ) made some corrigible offenders , to become desperate and incurable . 7. Mutilations of parts as of Fingers , are proper to disable such as have abused their dextrous use of them , by Pocket-picking , Counterfeiting of Seals and Writings , &c. Mutilations of other parts , may serve to punish and prevent Adulteries , Rapes , Incests , &c. And the smaller Corporal pains , serve to punish those , who can pay no pecuniary mulcts . 8. Imprisonment seems rather to be the punishments of suspected then guilty persons , and such as by their carriage give the Magistrate occasion to think , either they have done some smaller particular Crime , as Thefts , &c. or that they would commit greater , as Treasons and Seditions . But where Imprisonment is not a securing men untill their Trialls , but a sentence after Triall , it seems to me proper onely to seclude such men from conversation , whose Discourses are bewitching , and Practices infectious , and in whom neverthelesse remains some hopes of their future Amendments , or usefulnesse for some service not yet appearing . 9. As for perpetual Imprisonment by sentence , it seems but the same with death it self , to be executed by nature it self , quickened with such Diseases , as close living , sadness , solitude , and reflections upon a past and better condition , doth commonly beget : Nor do men sentenced hereunto live longer , though they be longer in dying . 10. Here we are to remember in consequence of our opinion , [ That Labour is the Father and active principle of Wealth , as Lands are the Mother ] that the State by killing , mutilating , or imprisoning their members , do withall punish themselves ; wherefore such punishments ought ( as much as possible ) to be avoided and commuted for pecuniary mulcts , which will encrease labour and publick wealth . 11. Upon which account , why should not a man of Estate , found guilty of man-slaughter , rather pay a certain proportion of his whole Estate , then be burnt in the hand ? 12. Why should not insolvent Thieves be rather punished with slavery then death ? so as being slaves they may be forced to as much labour , and as cheap fare , as nature will endure , and thereby become as two men added to the Commonwealth , and not as one taken away from it ; for if England be under-peopled , ( suppose by half ) I say that next to the bringing in of as many more as now are , is the making these that are , to do double the work which now they do ; that is , to make some slaves ; but of this elsewhere . 13. And why should not the solvent Thieves and Cheats be rather punished with multiple Restitutions then Death , Pillory , Whipping ? &c. But it will be asked , with how manifold Restitutions should picking a pocket ( for example ) be punished ? I say , 't were good in order to the solution hereof , to enquire of some candid Artists in that Trade , how often they are taken one time with another practising in this work ? If but once in ten times , then to restore even but seven-fold , would be a fair profit ; and to restore but ten-fold , were but an even lay ; wherefore to restore twenty-fold , that is , double to the hazard , is rather the true ratio and measure of punishment by double reparation . 14. And surely the restoring two , three , four , and seven-fold mentioned in Moses Law must be thus understood , or else a man might make thieving a very fair and lawful profession . 15. The next question is , in such multiple Restitutions how many parts should be given to the sufferer . To which I answer , never above one , and scarce that , to oblige him to more care , and self-preservation , with three parts to discoveers , and the rest to publick uses . 16. Thirdly , In the case of Fornications , most of the punishments not made by pecuniary mulcts and commuted , are but shame , and that too but towards some few persons , which shame for ever after obdurates the Offender , what ever it work upon such whose fames are yet intire : Of all which men take little consideration , standing upon the brink of such precipices as makes them giddy ; and when they are in danger of such faults as are rather madnesses , distempers , and alienations of the minde and reason , as also infurrections of the passions , then deliberate acts of the understanding . 17. Moreover , according to that Axiom of , In quo quis peccat , in eodem puniatur ; if the Ratio formalis of the sin of Concubitus Vagi , be the hindering of procreation , let those who by their miscarriages of this kinde are guilty thereof , repair unto the State the misse of another pair of hands with the double labour of their own , or which is all one , by a pecuniary mulct ; and this is the practice of some wise States in punishing what they will never be able to prevent : Nor doth the Gospel specifie any punishment in this world , onely declaring they shall not be received into the joyes of the next . 18. I could instance in more particulars , but if what I have already said be reasonable , this little is enough ; if not , then all the rest would be too little also : wherefore I shall adde but one instance more , as most suitable to our present times and occasions , which is the way of punishing Heterodox Professors of Religion . 19. That the Magistrate may punish false Believers , if he believe he shall offend God in forbearing it , is true ; for the same reasons that men give for Liberty of Conseience , and universal tolleration ; and on the other side , that he may permit false Worships , seems clearly at least by the practice of all States , who allow Ambassadours their freedom ( be the Worship never so abominable ) even when they come to negociate but upon temporal and small matters . 20. Wherefore , since the Magistrate may allow or connive at such Worships as himself thinks fit , and yet may also punish ; and since by Death , Mutilations , and imprisonments of the Subjects , the State not onely punisheth it self , but spreadeth the Pseudodoxies ; it follows , that pecuniary Mulcts are the fittest wayes of checking the wantonness of men in this particular : forasmuch as that course savours of no bitterness at all , but rather argues a desire to indulge , provided such indulgence may consist with the indempnity of the State ; for no Heterodox will desire to be tollerated longer then he keeps the Publick Peace ; the which if he means to do , he cannot take it ill of the Magistrate , to keep him steddy unto that his duty , nor grudge to contribute towards so much charge for that purpose as himself occasions . 21. Moreover , as there seems a reason for indulging some conscientious misbelievers , so there is as much for being severe towards Hypocrites , especially such as abuse holy Religion to cloak and vizzard worldly ends : Now what more easie and yet effectual way is there to discern between these two , then well proportioned pecuniary mulcts ? for who desiring to serve God without fear , and labouring ten hours per diem at his Calling , would not labour one hour more for such a freedon ? even as religious men spend an hour per diem more then the looser sort do at their Devotions ; or who weaving Cloth of one and twenty shillings the yard , would not be contented with that of twenty shillings , for the same advantage of his liberty in Worship ? Those that kick at this , being unwilling either to do or suffer for God , for whose sake they pretend so much . 22. It may be here objected , that although some bad Religions might be tollerated , yet that all may not , viz. such as consist not with the Civil Peace . To which I answer . First , that there is no Schisme or Separation be it never so small , consistent with that unity and peace as could be wisht ; nor none so perfectly conscientious , but may also be civilly most pernicious : For that Venner and his Complices acted upon internal motives , the most free exposing of themselves to death may evince ; and yet their holding the King to be an Usurper upon the Throne and Right of Jesus Christ was a Civil mischief neither to be pardoned or parallel'd . 23. And yet on the other hand there is no Pseudodoxy so great , but may be muzzled from doing much harm in the State , without either Death , Imprisonment , or Mutilation : To make short , no opinion can be more dangerous , then to disbelieve the immortality of the Soul , as rendring man a beast , and without conscience , or fear of committing any evil , if he can but elude the penalties of humane Laws made against it , and letting men loose to all evil thoughts and designs whereof man can take no notice : Now I say , that even this Misbeliever may be adaequately punished if he be kept as a beast , be proprietor of nothing , as making no conscience how he gets ; be never admitted in Evidence or Testimony , as under no Obligation to speak truth ; be excluded all Honours and Offices , as caring onely for himself , not the protecting of others ; and be withall kept to extream bodily labour , the profit whereof to the State is the pecuniary Mulct we speak of , though the greatest . 24. As for opinions less horrible then this , the Mulct may be fitted to each of them respectively , according to the measure of danger which the Magistrate apprehends from their allowance , and the charge necessary to prevent it . 25. And now we are speaking of the wayes how to prevent and correct Heterodoxies in Religion , which we have hitherto done by designing punishments for the erring sheep , I think it not amiss to adde , That in all these cases the Shepherds themselves should not wholly scape free : For if in this Nation there be such abundance of Free-Schools , and of liberall Maintenance provided in our Universities and elsewhere for instructing more then enough in all such learning as is fit to defend the established Religion , together with superabundant Libraries for that purpose . Moreover , if the Church-preferments be so numerous and ample both for Wealth , Honour , and Power , as scarce any where more ; it seems strange that when by the laziness , formality , ignorance , and loose lives of our Pastours , the sheep have gone astray , grown scabbed , or have been devoured by Wolves and Foxes , that the Remedy of all this should be onely sought by frighting those that have strayed from ever returning again , and by tearing off as well the skins as the wool of those that are scabbed ; whereas Almighty God will rather require the blood even of them that have been devoured , from the shepheards themselves . 26. Wherefore if the Minister should lose part of the Tythes of those whom he suffers to dissent from the Church , ( the defector not saving , but the State wholly gaining them ) and the defector paying some pecuniary Mulct for his Schisme , and withall himself defraying the charge of his new particular Church and Pastorage , me thinks the burthen would be thus more equally born . 27. Besides , the judicious world do not believe our Clergy can deserve the vaste preferments they have , onely because they preach , give a better accompt of Opinions concerning Religion then others , or can express their conceptions in the words of the Fathers , or the Scriptures , &c. Whereas certainly the great honour we give them , is for being patterns of holiness , for shewing by their own self-denials , mortifications , and austerities , that 't is possible for us to imitate them in the precepts of God ; for if it were but for their bare Pulpit-discourses , some men might think there is ten thousand times as much already printed as can be necessary , and as good as any that ever hereafter may be expected . And it is much suspected , that the Discipline of the Cloisters hath kept up the Roman Religion , which the Luxury of the Cardinals and Prelates might have destroyed . 28. The substance therefore of all we have said in this discourse concerning the Church is , that it would make much for its peace , if the Nursery of Ministers be not too big , that Austerities in the Priests lives would reconcile them to the people ; and that it is not unreasonable , that when the whole Church suffers by the defection of her Members , that the Pastours of it by bearing a small part should be made sensible of the loss ; the manner and measures of all which I leave unto those unto whom it belongs . 29. Concerning Penalties and Penal Laws I shall adde but this , that the abuse of them is , when they are made not to keep men from sin , but to draw them into punishment ; and when the Executers of them keep them hid until a fault be done , and then shew them terrible to the poor immalicious offender : Just like Centinels , who never shew men the advertisements against pissing near their Guards , till they have catcht them by the coats for the forfeiture they claim . CHAP. XI . Of Monopolies and Offices . MOnopoly ( as the word signifies ) is the sole selling power , which whosoever hath can vend the commodity whereupon he hath this power , either qualified as himself pleases , or at what price he pleaseth , or both , within the limits of his Commission . 2. The great example of a Monopoly is the King of France his Gabel upon Salt , whereby he sells that for sixty which costs him but one ; now Salt being a thing of universal use to all degrees of men , and scarce more to the poor then the rich , it seems to be of the same effect with the simplest Poll-money abovementioned , in case all men spent equally of it , or if men be forced to take it whether they spend it or not , as in some places they are . But if men spend or eat Salt unequally , as they commonly do , nor are bound to take or pay for more then they spend , then is no other then an accumulative Excize , especially if the salt be all of one uniform goodness , otherwise it is a distinct species of Leavy , viz. a Monopoly . 3. The use or pretence of instituting a Monopoly is , First , Right of Invention ; forasmuch as the Laws do reward Inventions , by granting them a Monopoly of them for a certain time ; ( as here in England for fourteen years ) for thereby the Inventor is rewarded more or less according to the acceptance which his Invention findes amongst men . Where note by the way , that few new Inventions were ever rewarded by a Monopoly ; for although the Inventor oftentimes drunk with the opinion of his own merit , thinks all the world will invade and incroach upon him , yet I have observed , that the generality of men will scarce be hired to make use of new practices , which themselves have not throughly tried , and which length of time hath not vindicated from latent inconveniences ; so as when a new Invention is first propounded , in the beginning every man objects , and the poor Inventor runs the Gantloop of all petulent wits ; every man finding his several flaw , no man approving it , unless mended according to his own advice : Now not one of an hundred out-lives this torture , and those that do , are at length so changed by the various contrivanees of others , that not any one man can pretend to the Invention of the whole , nor well agree about their respective shares in the parts . And moreover , this commonly is so long a doing , that the poor Inventor is either dead , or disabled by the debts contracted to pursue his design ; and withall railed upon as a Projector , or worse , by those who joyned their money in partnership with his wit ; so as the said Inventor and his pretences are wholly lost and vanisht . Secondly , a Monopoly may be of real use for a time , viz. at the first introducing of a new Manufacture , wherein is much nicety to make it well , and which the generality of men cannot judge of as to the performance . As for example ; suppose there were some most approved Medicament which one certain man could make most exactly well , although several others could also make the same less perfectly : in this case this same chief Artist may be allowed a Monopoly for a time , viz. until others have had experience enough under him , how to make the Medicament as well as himself . First , because the world may not have the Medicament variously made , when as they can neither discern the difference by their senses , nor judge of the effects thereof à posteriori , by their reasons . Secondly , because others may be fully instructed by him that can best do it ; and thirdly , because he may have a reward for such his communications : But forasmuch as by Monopolies of this kinde , great Leavies are seldom made , they are scarce pertinent to our design . Offices instituted by the State with Fees of their own appointment , are of parallel nature to Monopolies ; the one relating to actions and employments as the other to things , and have the same to be said for and against them as Monopolies have . As a Kingdom encreaseth and flourisheth , so doth variety of things , of actions , and even of words encrease also ; for we see that the language of the most flourishing Empires was ever the most copious and elegant , and that of mountainous Cantons the contrary : Now as the actions of this Kingdom encreased , so did the Offices ( that is , the power and faculty of solely executing and performing the said actions ) encrease likewise ; and on the contrary , as the business of Offices encreased , so did the difficulty and danger of discharging them amiss decrease proportionably : from whence 't is come to pass , that the Offices which at their first erecting were not performed but by the ablest , most inventive , and versatile Instruments , ( such as could wrestle with all emergent difficulties , and collect Rules and Axioms out of the Series of their own Observations , ( with reference to the various casualties of their employments ) whereby to direct Posterity ) are now performed by the most ordinary , formal , pack-horse Deputies and Sub-Deputies . And whereas at first such large Fees were allowed as ( considering even the paucity of them which might then be received ) should compensate the Art , Trust , and Industry of the Administratour ; yet the large said Fees are still continued , although the skill and trust be lessened , and the number of the said Fees so extreamly multiplyed : so as now the profits of such Officers ( being become cleer , and the work so easie as any man is capable of it , even those that never saw it , ) are bought and sold for Years or Lives , as any other Annuity may be ; and withal , the splendor arising from the easie gaines of those places in Courts of Justice , is called the Flourishing of the Law , which certainly flourisheth best , when the Professors and Ministers of it have least to do . And moreover , when the burthen and uselesness of such an Office is taken notice of , 't is nevertheless spared as a Subjects Freehold in favour of him that bought it . Of these Offices are many in this Nation , and such as might be a Revenue to the King , either by their Annual profits , or the Sale of them for many years together . And these are the Offices that are properly Saleable , viz. where the Fees are large , as appointed when the number of them was few , and also numerous , as multiplying upon the increase of business , and where the business is onely the labour of the meanest men : length of time having made all the work so easie , and found out security against all the frauds , breaches of trust , and male-administrations , whereunto the infancies of those places were obnoxious . These Offices are thererore Taxes upon such as can or will not avoid the passing through them , and are born as men endure and run themselves into the mischiefs of Duelling , the which are very great , which side soever prevails ; for certainly men do not alwayes go to Law to obtain right , or prevent wrong , which judicious neighbours might perform as well as a Jury of no abler men ; and men might tell the Judge himself the merits of their Cause , as well as now they instruct their Councel . This therefore of Offices is a voluntary Tax upon contentious men , as Excize upon Drink is , to good Fellows to love it . CHAP. XII . Of Tythes . THe Word Tythes being the same with Tenths , signifie of it self no more then the proportion of the Excisium , or part retrenched , as if Customs upon imported and exported Commodities should be called by the name of Twentieths , as it is sometimes called Tunnage and Poundage ; wherefore it remains to say , that Tythes in this place , do together with the said proportion , consignifie the use of it , viz. the maintenance of the Clergy , as also the matter or substance out of which this Maintenance is cut , viz. the immediate fruit of the Land and Waters , or the proceed of mens Labour , Art , and Stock laid out upon them . It signifies also the manner of paying it , viz. in specie , and not ( but upon special and voluntary causes ) in money . 2. We said the matter of Tythes , was the immediate Fruits of the Earth , viz. of Grain as soon as 'c is ready to be removed from the ground that bare it ; and not of Bread which is Corn thresht , winnowed , ground , tempered with liquor and baked . 3. 'T is also the second choice out of the young of multipa●ous Cattle taken in specie , so soon as the said Younglings can subsist without their Dams , or else a Composition in Money for the Uniparons . 4. 'T is Wool , so soon as it is shorn ; 't is Fowl and Fish , where Fowling and Fishing is rather a Trade then a meer Recreation , & sic de caeteris . 5. Moreover , in great Cities Tythes are a kinde of composition in Money for the labour and profit of the Artisans who work upon the materials which have paid Tythes before . 6. Tythes therefore encrease within any Territory , as the labour of that Countrey increases ; and labour doth or ought to increase as the people do ; now within four hundred years the people of England are about quadrupled , as doubling every two hundred years , and the proportion of the Rent of all the Lands in England is about the fourth part of the Expence of the people in it , so as the other three parts is labour and stock . 7. Wherefore the Tythes now should be twelve times as good as they were four hundred years ago ; which the rates of Benefices in the Kings books do pretty well shew , by comparing of times ; something of this should be abated because the proportion between the proceed of Lands and Labour do vary as the hands of Labourers vary : Wherefore we shall rather say , that the Tythes are but six times as good now as four hundred years ago , that is , that the Tythes now would pay six times as many Labourers , or feed six times as many mouthes , as the Tythes four hundred years ago would have done . 8. Now if there were not onely as many Parishes then as now , more Priests in every Parish , and also more Religious Men who were also Priests , and the Religion of those times being more operose , and fuller of work then now , by reason of Confessions , Holydayes , Offices , &c. more in those dayes then now , ( the great work in these dayes being a compendious teaching above a thousand at once without much particular Confession and Catechising , or trouble about the Dead ; it seems clear , that the Clergy now is far richer then heretofore ; and that to be a Clergy-man then was a kinde of a Mortification , whereas now ( praised be God ) 't is matter of splendour and magnificence ; unless any will say , that there were golden Priests when the Chalices were wood , and but wooden Priests when the Chalices were gold ; or that Religion best flourisheth when the Priests are most mortified , as was before said of the Law , which best flourisheth when Lawyers have least to do . 9. But what ever the increase of the Churches Goods are , I grudge it them not ; onely wish , that they would take a course to enjoy it with safety and peace to themselves ; whereof one is , not to breed more Churchmen then the Benefices as they now stand shred out , will receive ; that is to say , if there be places but for about twelve thousand in England and Wales , it will not be safe to breed up 24000. Ministers , upon a view or conceipt that the Church means otherwise distributed might suffice them all ; for then the twelve thousand which are unprovided for , will seek wayes how to get themselves a livelihood ; which they cannot do more easily then by perswading the people , that the twelve thousand Incumbents do poison or starve their souls , and misguide them in their way to Heaven : Which needy men upon a strong temptation will do effectually ; we having observed , that Lecturers being such a sort of Supernumeraries , have preached more times in a week , more hours in the day , and with greater vehemence every time then the Incumbents could afford to do ; for Graeculus esuriens in Coelum , jusseris , ibit . Now this vehemence , this pains , this zeal , and this living upon particular donations , makes the people think , that those who act them are withall more Orthodox , nay better assisted from God then the others . Now let any man judge , whether men reputed to be inspired will not get help to lift themselves into Church-livings , &c. But these things are too plain from the latest experiences . 10. Now you will ask , how shall that be done , or how may we know how to adjust our Nursery to our Orchard ? To which I answer , that if there be twelve thousand Church-livings in England , Dignitaries included , then that about four hundred being sent forth per ann . into the Vineyard , may keep it well served , without luxuriency ; for according to the Mortality-Bill-observation , about that number will dye yearly out of twelve thousand Adult-persons , such as Ministers are as to age , and ought to be as well as to speculative knowledge , as practical experience , both of themselves and others . 11. But I have digressed , my main scope being to explain the nature of the Tax of Tythes ; nevertheless since the end of such explanation is but to perswade men to bear quietly so much Tax as is necessary , and not to kick against the pricks ; and since the end of that again , and the end of all else we are to do , is but to preserve the publick Peace , I think I have not been impertinent in inserting this little Advertisement , making so much for the Peace of our Jerusalem . 12. But to return to Tythes as a Tax or Levy , I say that in England it is none , whatsoever it might be or seem to be in the first Age of its Institution ; nor will the Kings Quit-rents in Ireland as they are properly none now , seem any in the next Age , when every man will proportion his Expence to the remainder of his own Rent after the King is paid his ; for 't is surprize and the suddenness of the Charge , which a Tax supervenient to a mans other expences and issues makes , that renders it a burthen , and that intollerable to such as will not understand it , making men even to take up Arms to withstand it ; that is , leap out of the Frying-pan upon earth into the fire even of hell , which is War and the calamities thereof . 13. Now Tythes being no Tax , I speak of it but as the modus or pattern of a Tax , affirming it to be next to one , the most equal and indifferent which can be appointed in order to defray the publick Charge of the whole Nation as well as that of the Church ; for hereby is collected a proportion of all the Corn , Cattle , Fish , Fowl , Fruit , Wool , Honey , Wax , Oyl , Hemp , and Flax of the Nation , as a result of the Lands , Art , Labour , and Stock which produced them ; onely it is scarce regular in respect of Housing , Cloth , Drinks , Leather , Feathers , and the several Manufactures of them ; insomuch , as if the difference of Tythes which the Countrey payes in proportion to the City , were now de novo to be established , I do not see what in likelihood would sooner cause a grand sedition about it . 14. The payment of an aliquot part to the King out of the same things as now pay Tythes , in specie , would have no inconvenience , because the Kings Rents would be like the Dividend in Colledges , viz. higher or lower according to the prices of those Commodities , unless the said inequality in Colledges happen by reason of the fewness of particulars , according to the market rates whereof , their Rents are paid in money ; whereas the whole of all the particulars might well enough ballance each other , a dear or plentiful being but an appellation secundum quid , viz. with reference as to Corn onely , as the chief food of the multitude ; whereas 't is likely , that the same causes which makes Corn scarce may make other things in plenty of no less use to the King ; as repairing in one thing what he wants in another . 15. Another inconvenience would be that which was observed in Ireland , when the Ministery were paid by Sallary , and the Tythes in kinde paid to the State ; who because they could not actually receive them in specie , let them at farm to the most bidder ; in the Transaction whereof was much juggling , combination , and collusion , which perhaps might have been remedied , had not that course been used but as a sudden temporary shift , without intention of continuing it . 16. The third inconvenience is , that abovementioned , viz. the necessity of another way of Tax , to take in the Manufactures of those Commodities which pay the Tax of Tythes ; whereas possibly there is a way of Tax equal in its own nature , and which needs not to be pieced up by any other ; so as the Officers about that may have a full employment , and none others wanted , whose wide intervals of leasure shall make them seem Drones , as they are also the Caterpillers of any State. CHAP. XIII . Of several smaller wayes of levying Money . WHen the people are weary of any one sort of Tax , presently some Projector propounds another , and gets himself audience , by affirming he can propound a way how all the publick charge may be born without the way that is . As for example , if a Land-tax be the present distasted way , and the people weary of it , then he offers to do the business without such a Land-tax , and propound either a Poll-money , Excize , or the institution of some new Office or Monopoly ; and hereby draws some or other to hearken to him ; which is readily enough done by those who are not in the places of profit relating to the way of Levies in use , but hope to make themselves Offices in the new Institution . 2. I shall enumerate a few of the smaller wayes which I have observed in several places of Europe , viz. First , in some places the State is common Cashier for all or most moneys , as where Banks are , thereby gaining the interest of as much money as is deposited in their hands . Secondly , Sometimes the State is the common Usurer , as where Loan Banks , and montes pietatis are in use , and might be more copiously and effectually where Registers of Lands are kept . Thirdly , Sometimes the State is or may be Common Ensurer , either upon the danger onely of Enemies at sea , according to the supposed primitive end of our Customs in England , or else of the casualties of the Enemy , Weather , Sea , and Vessel taken together . Fourthly , Sometimes the State hath the whole sale and benefit of certain Commodities , as of Amber in the Duke of Brandenburghs Countrey , Tobacco formerly in Ireland , Salt in France , &c. Fifthly , Sometimes the State is common Beggar , as 't is almost in Holland , where particular Charity seems only to serve for the relief of concealed wants , and to save these wanting from the shame of discovering their poverty , and not so much to relieve any wants that are declared , and already publickly known . Sixthly , In some places the State is the sole Guardian of Minors , Lunaticks , and Idiots . Seventhly , In some other Countreys the State sets up and maintains Play-houses , and publick Entertainments , giving Sallaries to the Actors , but receiving the bulk of the profit to themselves . Eighthly , In some places , Houses are ensured from fire by the State at a small Rent per annum upon each . Ninthly , In some places Tolls are taken upon passage over Bridges , Causeys , and Ferries built and maintained at the Publick Charge . Tenthly , In some places men that dye are obliged to leave a certain pittance to the publick , the same is practised in other places upon Marriages , and may be in others upon Births . Eleventhly , In some places strangers especially Jews , are particularly taxed ; which may be good in over-peopled Countreys , though bad in the contrary case . 3. As for Jews , they may well bear somewhat extraordinary , because they seldom eat and drink with Christians , hold it no disparagement to live frugally , and even sordidly among themselves , by which way alone they become able to under-sell any other Traders , to elude the Excize , which bears but according to mens Expences ; as also other Duties , by dealing so much in Bills of Exchange , Jewels , and Money , and by practising of several frauds with more impunity then others ; for by their being at home every where , and yet no where they become responsible almost for nothing . 4. Twelfthly , There have been in our times , wayes of levying an aliquot part of mens Estates , as a Fifth , and Twentieth , viz. of their Estates real and personal , yea of their Offices , Faculties , and imaginary Estates also , in and about which way may be so much fraud , collusion , oppression , and trouble , some purposely getting themselves taxed to gain more trust : Others bribing to be taxed low , and it being impossible to check or examine , or trace these Collections by the print of any footsteps they leave , ( such as the Harths of Chimneys are ) that I have not patience to speak more against it ; daring rather conclude without more ado , in the words of our Comick to be naught , yea exceeding naught , very abominable , and not good . CHAP. XIV . Of raising , depressing , or embasing of Money . SOmetimes it hath hapned , that States ( I know not by what raw advice ) have raised or embased their money , hoping thereby , as it were , to multiply it , and make it pass for more then it did before ; that is , to purchase more commodity or labour with it : All which indeed and in truth , amounts to no more then a Tax , upon such People unto whom the State is indebted , or a defalkation of what is due ; as also the like burthen upon all that live upon Pensions , established Rents , Annuities , Fees , Gratuities , &c. 2. To explain this fully , one might lanch out into the deep Ocean of all the Mysteries concerning Money , which is done for other ends elsewhere ; nevertheless I shall do it the best I can , by expounding the reasons pro & contrà for embasing and raising of Money : and first of embasing . 3. Copper or Tin Money made ad valorem in its matter , is no embasing ; the same being onely cumbersom and baser then silver money , onely because less convenient and portable . And Copper money ad valorem in workmanship and matter both together ; ( such as on which the Effigies and Scutcheon are so curiously graven and impressed , as the moneys seem rather a Medal ) is not embasing , unless the numbers of such pieces be excessive , ( the measures whereof I shall not set down , until I shall hereafter propound the fittest Sections of the abstracted pound into which I would have money coyned , and determine how many pieces of each Section should be in an hundred pound ) for in case of such excess , the workmanship being of no other use but to look upon , becomes base by its being too common . 4. Nor are such Tokens base as are coyned for Exchange in retailing by particular men , ( if such men be responsible and able to take them back , and give Silver for them . ) 5. But that Gold I count to be embased , which hath more allay either of Copper or Silver in it , then serves to correct its too great natural softness and flexibility , whereby it wears too fast in Money : And that Silver I reckon also embased , wherein is commixed more Copper then will sufficiently toughen it , and save it from cracking under the Hammer , Press , or Mill that must coin it , or the like . 6. Base Money is therefore such as Dutch Shillings , Stivers , French Soulz , Irish Bon-galls , &c. and for the most part consisting great pieces , though of small value . To answer the first reason or pretence of making them , which is , that the said Pieces might be more bulky , handleable , and the silver in them less apt to be lost or worn away . 7. The other reason ( besides that of allay which we must allow in the Measures abovementioned ) is to save it from being melted down by Goldsmiths and Bullioners , or exported by strangers ; neither of which can happen but to their loss : for suppose a Stiver of two pence , had a penny of pure silver , if the Bullioner melts it for the sake of the silver onely , in the separation he shall lose the Copper and charge of refining the Silver ; nor will strangers export it into places where the local value of the Piece perisheth , the intrinsick leaving him to loss . 7. Now the reasons against this kinde of Money are , first the greater danger of falsification , because the colour , sound , and weight by which men ( without the test ) guess at the goodness of the material of Money is too much confounded , for the vulgar ( whom it concerns ) to make use of them for their marks and guides in the business . 8. Secondly , In case small pieces of this Money , viz. pieces of two pence should happen to be raised or depressed twelve , fifteen , or sixteen per cent . then there will be a certain loss by reason of the fractions , which the vulgar cannot reckon : As for example , if such Money were depressed but ten , eleven , or twelve per cent . then the two pence piece would be worth but three half pence , which is twenty five per cent . and so of other proportions . 9. Thirdly , In case the Inconvenience of this Money should be so great as to necessitate a new Coinage of it , then will happen all the losses we mentioned before in melting it down by Bullioners . 10. Fourthly , If the two pence piece contained but ⅙ . th . part of the Silver usually in a shilling , then Dealers would have fifteen pence paid in this money for the same Commodity , for which they would take a shilling in Standard Silver . 11. Raising of Money is either the cutting the pound Troy of Standard Silver into more pieces then formerly , as into above sixty , whereas heretofore the same was made but into twenty , and yet both sorts called shillings , or else calling the money already made by higher names : The reasons or pretences given for such raising are these , viz. That the raising of Money will bring it in , and the material thereof more plentifully ; for trial whereof suppose one shilling were proclaimed to be worth two , what other effect could this have , then the raising of all Commodities unto a double price ? Now if it were proclaimed , That Labourers Wages , &c. should not rise at all upon this raising of Money , then would this Act be as onely a Tax upon the said Labourers , as forcing them to lose half their wages , which would not be onely unjust but impossible , unless they could live with the said half , ( which is not to be supposed ) for then the Law that appoints such Wages were ill made , which should allow the Labourer but just wherewithall to live ; for if you allow double , then he works but half so much as he could have done , and otherwise would ; which is a loss to the Publick of the fruit of so much labour . 12. But suppose the Quart d'Es●● of France commonly esteemed worth eighteen pence were raised to three shillings , then 't is true , that all the Moneys of England would be indeed Quart d'Esens pieces ; but as true , that all the English Money would be carried away , and that our Quart d'Esens would contain but half so much Bullion as our own money did ; so that raising of Money may indeed change the species , but with so much loss as the Forreign Pieces were raised unto , above their intrinsick value . 13. But for remedy of this , suppose we raised the Quart d'Esen double , and prohibited the Exportation of our own money in Exchange thereof . I answer , that such a Prohibition is nugatory , and impossible to be executed ; and if it were not , yet the raising of the said species would but make us sell the Commodities bought with raised Quart d'Esens , in effect but at half the usual rate , which unto them that want such commodities will as well yield the full ; so that abating our prices , will as well allure strangers to buy extraordinary proportions of our Commodities , as raising their money will do : But neither that , nor abating the price will make strangers use more of our Commodities then they want ; for although the first year they should carry away an unuseful and superfluous proportion , yet afterwards they would take so much the less . 14. If this be true , as in substance it is , why then have so many wise States in several ancient , as well as modern times frequently practised this Artifice , as a means to draw in money into their respective Dominions ? I answer , that something is to be attributed to the stupidity and ignorance of the people , who cannot of a sudden understand this matter : for I finde many men wise enough , who though they be well informed that raising of money signifies little , yet cannot suddenly digest it . As for example , an unengaged person who had money in his purse in England , and should hear that a shilling was made fourteen pence in Ireland , would more readily run thither to buy Land then before ; not suddenly apprehending , that for the same Land which he might have bought before for six years Purchase , he shall now pay seven . Nor will Sellers in Ireland of a sudden apprehend cause to raise their Land proportionally , but will at least be contented to compound the business , viz. to sell at six and an half ; and if the difference be a more ragged fraction , men under a long time will not apprehend it , nor ever be able exactly to govern their practice according to it . 15. Secondly , Although I apprehend little real difference between raising Forreign Money to double , and abasing half in the price of our own Commodities , yet to sell them on on a tacite condition to be paid in Forreign present Money , shall increase our money ; forasmuch as between raising the money , and abasing the price , is the same difference as between selling for money and in barter , which latter is the dearer ; or between selling for present money , and for time ; barter resolving into the nature of uncertain time . 16. I say , suppose English Cloth were sold at six shillings a Yard , and French Canvas at eighteen pence the Ell , the question is , whether it were all one in order to increase Money in England to raise the French Money double , or to abate half of the price of our Cloth ? I think the former , because that former way or proposition carries with it a condition of having Forreign Money in specie , and not Canvas in barter , between which two wayes the world generally agrees there is a difference . Wherefore if we can afford to abate half our price , but will not do it but for our neighbours money , then we gain so much as the said difference between Money and Barter amounts unto , by such raising of our Neighbours Money . 17. But the fundamental solution of this Question depends upon a real and not an imaginary way of computing the prices of Commodities ; in order to which real way I premise these suppositions : First then , suppose there be in a Territory a thousand people , let these people be supposed sufficient to Till this whole Territory as to the Husbandry of Corn , which we will suppose to contain all necessaries for life , as in the Lords Prayer we suppose the word Bread doth ; and let the production of a Bushel of this Corn be supposed of equal labour to that of producing an ounce of Silver . Suppose again that a tenth part of this Land , and tenth of the people , viz. an hundred of them , can produce Corn enough for the whole ; suppose that the Rent of Land ( found out as above-mentioned ) be a fourth part of the whole product , ( about which proportion it really is , as we may perceive by paying a fourth Sheaf instead of Rent in some places ) suppose also that whereas but an hundred are necessary for this Husbandry , yet that two hundred have taken up the Trade ; and suppose that where a Bushel of Corn would suffice , yet men out of delicacy will use two , making use of the Flower onely of both . Now the Inferences from hence are ; First , That the goodness or badness , or the value of Land depends upon the greater or lesser share of the product given for it in proportion to the simple labour bestowed to raise the said Product . Secondly , That the proportions between Corn and Silver signific onely an artificial value , not a natural ; because the comparison is between a thing naturally useful , and a thing in it self unnecessary , which ( by the way ) is part of the reason why there are not so great changes and leaps in the pro●●ed of Silver as of other Commodities . Thirdly , That natural dearness and cheapness depends upon the few or more hands requisite to necessaries of Nature : As Corn is cheaper where one man produces Corn for ten , then where he can do the like but for six ; and withall , according as the Climate disposes men to a necessity of spending more or less . But Political Cheapness depends upon the paucity of Supernumerary Interlopers into any Trade over and above all that are necessary , viz. Corn will be twice as dear where are two hundred Husbandmen to do the same work which an hundred could perform : the proportion thereof being compounded with the proportion of superfluous Expence , ( viz. if to the cause of dearness abovementioned be added to the double Expence to what is necessary ) then the natural price will appear quadrupled ; and this quadruple Price is the true Political Price computed upon naturall grounds . And this again proportioned to the common artificiall Standard Silver gives what was sought ; that is , the true Price Currant . 18. But forasmuch as almost all Commodities have their Substitutes or Succedanea , and that almost all uses may be answered several wayes ; and for that novelty , surprize , example of Superiours , and opinion of unexaminable effects do adde or take away from the price of things , we must adde these contingent Causes to the permanent Causes abovementioned , in the judicious foresight and computation whereof lies the excellency of a Merchant . Now to apply this Digression , I say , that to encrease Money , it is as well necessary to know how to abate the raise , the price of Commodities , and that of Money , which was the scope of the said Digression . 19. To conclude this whole Chapter , we say , that raising or embasing of Moneys is a very pittiful and unequal way of Taxing the people ; and 't is a sign that the State sinketh , which catcheth hold on such Weeds as are accompanied with the dishonour of impressing a Princes Effigies to justifie Adulterate Commodities , and the breach of Publick Faith , such as is the calling a thing what it really is not . CHAP. XV. Of Excize . IT is generally allowed by all , that men should contribute to the Publick Charge but according to the share and interest they have in the Publick Peace ; that is , according to their Estates or Riches : now there are two sorts of Riches , one actual , and the other potential . A man is actually and truly rich according to what he eateth , drinketh , weareth , or any other way really and actually enjoyeth ; others are but potentially or imaginatively rich , who though they have power overmuch , make little use of it ; these being rather Stewards and Exchangers for the other sort , then owners for themselves . 2. Concluding therefore that every man ought to contribute according to what he taketh to himself , and actually enjoyeth . The first thing to be done is , to compute what the Total of the Expence of this Nation is by particular men upon themselves , and then what part thereof is necessary for the Publick ; both which ( no not the former ) are so difficult as most men imagine . 3. In the next place we must conceive , that the very perfect Idea of making a Leavy upon Consumptions , is to rate every particular Necessary , just when it is ripe for Consumption ; that is to say , not to rate Corn until it be Bread , nor Wool until it be Cloth , or rather until it be a very Garment ; so as the value of Wool , Cloathing , and Tayloring , even to the Thread and Needles might be comprehended : But this being perhaps too laborious to be performed , we ought to enumerate a Catalogue of Commodities both native and artificial , such whereof accompts may be most easily taken , and can bear the Office marks either on themselves , or on what contains them ; being withall such , as are to be as near Consumption as possible : And then we are to compute what further labour or charge is to be bestowed on each of them , before consumption , that so an allowance be given accordingly . As for example , suppose there be an hundred pounds worth of Stript Stuff for Hangings , and an hundred pounds worth of Cloth or Stuff for the best mens Cloathes ; I conceive , that the Cloth should bear a greater Excize then the said stript stuff , the one wanting nothing but tacking up , to be at its wayes end ; and the other Tayloring , Thread , Silk , Needles , Thimbles , Buttons , and several other particulars : The Excise of all which must be accumulated upon the Excize of the Cloth , unless they be so great ( as perhaps Buttons , Lace , or Ribbons may be ) to be taxed apart , and inserted into the Catalogue abovementioned . 4. Now the things to be accumulated upon Cloth are , as near as possible , to be such particulars as are used onely to Cloth , or very rarely to any other particular , as the several sorts of peculiar trimmings ; so on Corn should be accumulated the charge of grinding , bolting , yeast , &c. for the baking of it into Bread , unless , as was said before , any of these particulars ' can be better rated apart . 5. A Question ariseth hence , whether any Native Commodities exported ought to pay the Excize , or that what is imported in lieu of it should pay none ? I answer no , because they are not spent here in specie ; but I conceive that the Goods returned from abroad for them and spent here should pay , if the exported have not already , for so shall what we spend pay once , but not ostner . Now if Bullion be returned , then if it be coyned into Money it ought not to pay , because Money will beget other commodities which shall pay ; but if the said Bullion be wrought into Plate and Utensils , or disgrost into Wire or Lace , or beaten into Fucilles , then it also ought to pay , because it is consumed and absolutely spent , as in Lace and Gilding is too notorious ; and this is the reason why I think the Leavy we commonly call Customs to be unseasonable and preposterous , the same being a payment before consumption . 6. We have several times spoken of Accumulative Excize , by which we mean Taxing many things together as one : As for example , suppose the many Drugs used in Treacle or Mithridate were used onely in those Compositions , in such case by taxing any one of them , the whole number will be taxed as certainly as that one , because they all bear a certain proportion one to another : In Cloth , the Workmanship and Tools as well as the Wool may be well enough taxed , &c. 7. But some have strained this Accumulation so , as they would have all things together taxed upon some one single particular , such as they think to be nearest the Common Standard of all Expence , the principal ends of their proposition being these , viz. First , To disguise the name of Excize , as odious to them , that do neither know the payment of Taxes to be as indispensable as eating , and as have not considered the natural justice of this way of Excizing or proportionating . Secondly , To avoid the trouble and charge of Collecting . Thirdly , To bring the business ad firmum , and to a certainty of all which we shall speak hereafter , when we examine the several reasons for and against the way of Excize , proceeding now to the several species of Accumulative Excizes propounded in the world . 8. Some propound Beer to be the only Excizable Commodity , supposing that in the proportion that men drink , they make all other Expences ; which certainly will not hold , especially if Strong Beer pay quintuple unto , ( as now ) or any more Excize then the small : For poor Carpenters , Smiths , Felt-makers , &c. drinking twice as much Strong Beer as Gentlemen do of Small , must consequently pay ten times as much Excize . Moreover , upon the Artizans Beer is accumulated , onely a little Bread and Cheese , leathern Clothes , Neck-Beef , and Inwards twice a week , stale Fish , old Pease without Butter , &c. Whereas on the other , beside Drink , is accumulated as many more things as Nature and Art can produce ; besides this way of Excizing , though it be never so well administred , is neither so equal nor so easie , nor so examinable as the simple Poll-money before spoken of , which is also but an Accumulative Excize . 9. What hath been propounded for Beer may be of Salt , Fuel , Bread , &c. and the Propositions would all labour under the same Inconveniences ; for some spend more , some less of these Commodities ; and sometimes Families ( each whereof are propounded to be farmed , without descending to individual heads ) are more numerous at some times then at others , according as their Estates or other Interests shall wax or wane . 10. Of all the Accumulative Excizes , that of Harth-money or Smoak-money seems the best ; and that onely because the easiest , and clearest , and fittest to ground a certain Revenue upon ; it being easie to tell the number of Harths , which remove not as Heads or Polls do : Moreover , 't is more easie to pay a small Tax , then to alter or abrogate Harths , even though they are useless and supernumerary ; nor is it possible to cover them , because most of the neighbours know them ; nor in new Building will any man who gives forty shillings for making a Chimney be without it for two . 11. Here is to be noted , that a Harth-money must be but small , or else 't will be intollerable ; it being more easie for a Gentleman of a thousand pound per annum to pay for an hundred Chimneys ( few of their Mansion-Houses having more ) then for Labourers to pay for two . Moreover , if the Land-Lord onely pay this Tax , then is it not an Accumulative Excize for all , but a particular Excize upon but one onely Commodity , namely Housing . 12. Now the Reasons for Excize are these , viz. First , The Natural Justice that every man should pay according to what he actually enjoyeth ; upon which account this Tax is scarce forced upon any , and is very light to those , who please to be content with natural Necessaries . Seondly , This Tax if it be not farmed , but regularly collected , engages to thrift , the onely way to enrich a Nation , as by the Dutch and Jews , and by all other men , who have come to vaste Estates by Trade , doth appear . Thirdly , No man payes double or twice for the same thing , forasmuch as nothing can be spent but once ; whereas it is frequently seen , that otherwise men pay both by the Rent of their Lands , by their Smoaks , by their Titles , and by Customs , ( which all men do , though Merchants chiefly talk of it ) they also pay by Benevolence and by Tythes ; whereas in this way of Excize no man need pay but one way , nor but once , properly speaking . Fifthly , By this way an excellent account may be taken of the Wealth , Growth , Trade , and strength of the Nation at all times . All which Reasons do make not for particular compoundings with 〈◊〉 , nor for letting the whole to farm , but for collecting it by special Officers , who having a full employment , will not be a fourth of the charge of our present many multiform Levies ; for to put extraordinary trouble and hazzard upon the Countrey Officers , is a sorer Taxing of them , then to make them pay a small Reward unto practised Persons to be their Substitutes . All which are the common Objections against Excize . 13. I should here adde the manner of Collecting it , but I refer this to the practice of Holland ; and I might also offer how men may be framed to be fit for this and other Publick Trusts , as to be Cashiers , Store-keepers , Collectors , &c. but I refer this Enquiry unto a more ample and fit occasion . Errata . Pag. line . 1 14 between [ who and spent ] interline [ have ] 5 13 after [ want ] read [ general ] instead of [ more ] 6 19 before [ starve ] interline [ needlesly ] 6 29 before [ cause ] read [ one ] instead of [ the ] 6 30 read [ is ] instead of [ are ] 8 7 read [ them ] for [ him ] 8 8 read [ their ] for [ his ] 17 19 read [ viz. ] for [ that is ] 18 3 read [ 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 ] instead of [ 〈◊〉 〈◊〉 〈◊〉 〈◊〉 〈◊〉 ] 20 17 read [ Excisum ] not [ Excisium ] 21 7 read [ obligees ] not [ obliges ] 22 12 read [ enhansing ] not [ exhausting ] 22 23 between [ way and Land-Tax ] interline [ of a ] 22 25 deleatur [ sometimes ] 24 25 between [ Rents and we ] interline [ in order to Taxes ] 28 24 between [ seldom and enough ] interline [ rich ] 28 28 deleatur [ with ] 30 11 after [ hazards ] interline [ and ] 14 read [ omitted ] 27 read [ apparatus ] instead of [ appurtenances ] 32 10 after [ the ] interline [ former ] 11 after [ Land ] read [ this latter ] instead [ of the ] 33 26 deleatur [ by ] 31 between [ &c. and then ] interline [ could be fertilized ] 34 36 read [ worth ] not [ work ] 36 16 after [ market ] interline [ abroad ] 37 12 read [ paribus ] not [ talibus ] 39 6 read [ conniving ] not [ coyning ] Pag. line . 39 32 deleatur [ as much harm ] ibid. between [ of and one ] interline [ the ] penult . after [ Coffee ] inter [ and ] 40 2 read [ meerly ] for [ merrily ] ult . before [ certainly ] interline [ case ] 41 13 dele [ out ] 24 read [ so or not ] instead of [ use ] 47 26 read [ on ] for [ of ] 51 3 read [ their ] for [ the ] 15 after [ Heterodox ] interline [ Believer ] 29 read [ wearing ] for [ weaving ] 53 14 read [ defect ] for [ dissent ] 54 36 between [ then and is ] interline [ it ] 56. ult . after [ yet the ] interline [ said ] 57 3 read [ offices ] for [ officers ] 60 2 read [ shared ] for [ shred ] 61 15 read [ consequences ] for [ calamities ] 32 read [ an ] for [ no ] 62 1 after [ plentiful ] interline [ year ] 65 21 read [ medalls ] instead of [ a medall ] 66 10 between [ consisting and great ] interline [ of ] 67 29 read [ d'Escu ] instead of [ d'Esens ] 68 36 read [ abating ] for [ abasing ] 69 11 after [ former ] interline [ better ] 70 12 read [ prices ] for [ proceed ] 71 5 read [ as ] for [ the ] 75 25 read [ families ] for [ faculties . ] FINIS . 
A54694	----	Restauranda, or, The necessity of publick repairs, by setling of a certain and royal yearly revenue for the king or the way to a well-being for the king and his people, proposed by the establishing of a fitting reveue for him, and enacting some necessary and wholesome laws for the people. Philipps, Fabian, 1601-1690. 1662 Approx. 194 KB of XML-encoded text transcribed from 57 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2004-11 (EEBO-TCP Phase 1). A54694 Wing P2017 ESTC R7102 13506891 ocm 13506891 99831 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . The text can be copied, modified, distributed and performed, even for commercial purposes, all without asking permission. Early English books online. (EEBO-TCP ; phase 1, no. A54694) Transcribed from: (Early English Books Online ; image set 99831) Images scanned from microfilm: (Early English books, 1641-1700 ; 472:5) Restauranda, or, The necessity of publick repairs, by setling of a certain and royal yearly revenue for the king or the way to a well-being for the king and his people, proposed by the establishing of a fitting reveue for him, and enacting some necessary and wholesome laws for the people. Philipps, Fabian, 1601-1690. [6], 107 p. Printed by Richard Hodgkinson ..., and are to be sold by Abel Roper ..., London : 1662. Dedication reads: Regi et patriae versique honoris et felicitatis Angliae cultoribus, hasce veluti materiarum sedes, dicat dedicatque Fabianus Philipps. Attributed to Fabian Philipps. Cf. NUC pre-1956. Reproduction of original in Huntington Library. Created by converting TCP files to TEI P5 using tcp2tei.xsl, TEI @ Oxford. 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Great Britain -- Kings and rulers. 2004-07 TCP Assigned for keying and markup 2004-07 Aptara Keyed and coded from ProQuest page images 2004-08 Judith Siefring Sampled and proofread 2004-08 Judith Siefring Text and markup reviewed and edited 2004-10 pfs Batch review (QC) and XML conversion Restauranda : OR THE NECESSITY OF Publick Repairs , By setling of a certain and Royal yearly REVENUE FOR THE KING . OR The Way to a well-being for the KING and His PEOPLE , proposed by the Establishing of a fitting Revenue for him , and Enacting some Necessary and Wholsome Laws for the PEOPLE . London , Printed by Richard Hodgkinson , for the Author , and are to be sold by Abel Roper , at the sign of the Sun , over against Saint Dunstons Church in Fleetstreet , 1662. REGI ET PATRIAE VERISQUE HONORIS ET FELICITATIS ANGLIAE CULTORIBUS , HASCE VELUTI MATERIARUM SEDES , DICAT DEDICATQUE FABIANUS PHILIPPS . THE CONTENTS OF THE CHAPTERS . CHAP. I. REvenues of the Kings of England . Pag. 6 CHAP. II. Supplies and Additions to the Royal Revenues , and the many cares taken therein by Parliaments and otherwise . p. 14 CHAP. III. Ruine and decay of the Revenues . p. 30 CHAP. IV. The Remedies . p. 58 Some Errata's or faults escaped the Printer , which the Reader is intreated to correct and amend in this manner . PAge 2 line 15 dele by , p. 7. l. 10 dele may , p. 27 l. 26. for their read the , p. 68. l. 14. interfere , had in principio , & dele , in fine , p. 69. l. 5. for and worser . or worse , and l. 29. for which r. and p. 58. for Chap. l. r. Chap. IV. p. 81. l. 23. dele that , p ▪ 83 l. 31. dele and and 〈◊〉 . Restauranda , OR The necessity of Publick Repairs , by the setling of a certain and Royall yearly Revenue for the KING . OR The Way to a well-being for the KING and his PEOPLE proposed , by the establishing of a fitting Revenue for Him , and Enacting some necessary and wholsome Lawes for the People . A Long course of time , & Annosa vetustas , which weares out and subdues the most stubborne Rocks and Marbles , and crumbles into dust and ruin things of long duration , together with the necessities , cares and affairs , which do usually busie Crowns and Princes and their Royall Revenues in the protection and welfare of themselves and the people committed to their charge , may without the inconsiderate censures of those who think much of every Ayde and Contribution which they give towards the effecting or support of their own and their posterities happiness , be well supposed to be no small cause of wasting and lessening those Royal supports or means which our Kings of England have heretofore had to do it withall , and as streams running far from their springs and fountains without the help or company of other waters to augment or goe along with them , may be allowed more then a little to drie up or languish , and might silence the murmur and complaints of those who can be content to beg & get all they can from the King , and by too often by false pretences concealing the worth or value of what they ask of him , doe gain thereby ten times more then they seem to request , or he intends to give them , and making no scruple to deceive him , which our blessed Saviour never taught them when he commanded to give to Caesar that which was Caesars , think it is Kingly to be cozened , and that he can never give , or be deceived too much ; yet when he comes to demand any help or assistance from them , though it be but for a publick good and their own preservation , can crie out , burdens and oppressions , and as if he were some Ocean , never to be drawn drie , or Mountain never to be digged down or exhausted ; an Elixir to transmute and enrich others without any wast or diminution of its self , or the Sun in the firmament , which can enlighten , heat , and nourish all things and be never the worse for it , marvail how he can come to want ; and if they doe believe him to be in any necessity , are ready to lay the cause or blame of it upon his Officers for taking more care of their own Estates then his , and for a thriving way of Arithmetick , by substracting from his to increase and multiply their own ; whilest many who have but lately tasted of his bounty , or whose Fathers , Grandfathers or Ancestors have lest them goodly Inheritances , which were either of the guift of the King or his Progenitors ; or purchased and gained by beneficial offices and places or imployments under them , can look upon every Subsidy , Tax or Assessment as a blast , or mildew of their corn , some plague or epidemicall disease , or a greater national calamity , and give them no better an aspect or entertainment then the children of Israel did their Egyptian Tax-masters when they were commanded to make their Tale of Brick and gather the straw , though they never repine or grumble at the same time at ten times a greater sum to a Merry-meeting or a Feast , or spent in a horse-race , a thousand or five hundred pounds lost in a night at dice , three or four hundred pounds spent in a Treatment or Banquet , or the large or sinfull expensive vanities of themselves and their wives and children . And too many , who would be thought to be better Subjects and Patriots then others , can seem to hate a Civil warre , shrink at the imagination of the miseries thereof , tremble at a forreign Invasion Free-quarter , Plunder , and the Outrage of Souldiers ; complain of want of Trade , or the guarding of the Seas ; boast of the ancient honour and glory due unto their Nation , and take a pleasure to recount it to their children , or read it in their Histories , and not a few also who in our late twenty years rebellion , and the spoils and afflictions which attended it , could drive honester men then themselves into Taxes and Assessements , and think a million and a half in yearly Assessements for some years together , besides a fifth part of their real Estates , a twentieth of their personal , and many other of their Depredations amounting to more then all the Taxes and Aydes put together , which for five hundred years last past were imposed by our Kings and Princes , to be little enough to sacrifice to a mistaken godliness , will notwithstanding doe as very little as they can to contribute any thing to the procuring and enjoying the blessings of peace and plenty , or avoyd the contrary . And do never so well esteem of their own policies , as when they can by pretences of debts , poverty , or charge of children , shift of necessary and publick duties , and by undervaluing of their own Estates , or overvaluing others , make as smal an offering as they can to their oathes of Allegiance and Supremacy , and necessities of their Prince and Defender of their Faith as well as their Estates . And too too many whilst they cannot but acknowledge if Scripture and the Lawes of God and man may be their guide and directors , that he hath lately by Gods mercy and a miracle redeemed them and their Laws and Liberties out of a slavery which stuck like a leprosie , and was like to be entailed upon them and their posterities , rescued Religion , and gave them their Lands and Estates again which the just Lawes of the Land once called their Birthright had forfeited unto him , can by an unheard and not easily to be believed ingratitude , after his Act of Oblivion and Free-pardon , neither deserved nor purchased , and preferments bestowed upon them , fall into such an oblivion as nature abhorres , and humanity must needs blush at , and not offer any thing in a benevolence ordered by Act of Parliament instead of a Tax or Subsidie . And very many of those which did give any thing ( some loyal and right-hearted excepted ) having obtained of the King to give away the principallest Flower of his Crown , by releasing of his Tenures in Capite and by Knights service , and promised him Tenures in Corde in part of satisfaction , would not be pleased to find the way afterwards to give him so much as the twentith part of their yearly vain and unnecessary expences towards the relieving of the publick and his private necessities . For the better information therefore of all such who are unwilling to part with a Fancy , that the Revenues of our Kings of England are immense or largely sufficient for their occasions , and to dispose them to the duty which the Laws of God and Men have commandded and directed ; and evidence the reason and necessity which the King now hath to demand a supplement of his Revenue , and for his good people of England not to deny it him , and that the decayes and ruins thereof have not been occasioned only by an heretofore ill-management of the Finances , but by time , and an age of many ages , multiplicity of expences , indulgences to the people , and necessity of affirs and government , which exhausting the radicall heat and moysture , have so spent the spirits of the body politick , as they have brought it to that feinting , languishing and weak condition it is now in . It will not be inconvenient from the mountains and hills of time to look down into the valleys of the ages past and take a short view ( for a longer would better become the designe of a Volume then what is here briefly to be represented ) of the Revenues of our Kings of England before and since the Conquest . CHAP. I. Revenues of the Kings of England . IN the Prospect whereof it will be more then a conjecture , that those of the Saxon race , before the Norman Invasion , had in their Heptarchy ( except Wales , and the barren and mountainous part of our Britain , to which the distressed Reliques of that Nation had for shelter and safety retired ) the most part of the Lands and Revenues of the British Kings ; that Egbert King of the West Saxons , and Alured , and after them Edgar sole Monarch of Albion and the Saxon Dominions , and his Successors , having possessed themselves of all the other Kings Estates , could not probably be without very large Demeasnes and Revenues , and that not only they , but all the succeeding Saxon Kings have made the support of themselves Regality , Government , and Affaires in and by the constant and certain Revenues and profits of their Lands in Demeasne and Service , which as a Sacrum Patrimonium and concomitant of the Crown , may by the ancient Charters of many of our Kings before the Conquest , the grant of the Manor of Malling in the County of Sussex by Egbert King of the West Saxons , in An. Dom. 838. distinction of Crown Lands and Terra Regis ( a great part of which were no other then what was since , and is now called Antient Demeasne ) mentioned and recorded in Doomesday book , that Liber censualis and grand Register or Survey of the Lands of the Kingdome precedented by the Book or Roll of Winchester , made by King Alfred or Alured , a resumption of some of the Crown Lands in the reigns of King Stephen , Henry the Second , and Henry the Third , and several of their Successors the Articles enquired of in the succeeding Eyres , a Judgment in 6 Edw. 1. against the Abbot of Feversham for some of the Crown lands which were aliened by King Stephen . And the opinion of Bracton , a Judg in the later end of the reign of King Henry the Third lib. 2. de legibus & consuetudinibus regni Angliae , that , Est res quasisacra res fiscalis quae dari non potest , nec vendi , nec ad alium transferri a principe , vel a rege regnante , & quae faciunt ipsam coronam & communem utilitatem respiciunt , may be understood to be unalienable . And by the casuall and uncertain profits & revenues of the Crown Jure superioritatis , which to such as shall acquaint themselves with the Saxon Lawes , Customes , and Antiquities , will appear to be Escheats and Forfeitures , Mines Royall , Herriots , Reliefs upon the deaths of Tenants in Capite , and by Knights Service ( which in those more gratefull times amounted to very much ) the benefit of Tolls and Customes , Manbote , Blood●ite , with many other Wita's and Wera's Capitis estimationes , mulcts , penalties , and fruits of the Kingly Prerogative , which then , and with Wardships , Liveries , Profits of Annum diem & vastum Fines , Assart lands , and Fines for Incroachments , Purprestures , and divers other things in many Kings reigns after the Conquest were used to be exactly and carefully collected by the Comites , or Earles and Governours of the Shires or Provinces who had the third penny , then accounted so much as to become an honourable allowance for their collecting it ; and the Praepositi , Shire Reeves , and other Officers of the Crown , and in the Courts of Justice , as well great as small , and the Iters and Circuits of the Justices : and that when the sinnes and miseries of our Saxon Ancestors had enriched William the Conqueror , and entitled him to the Directum Dominium of all , and the utile Dominium of the greatest part of the lands and possessions of England : and he had given away much of it to his great Commanders , Friends , Allies & Souldiers ( many of whom were not without their own patrimonies and great possessions in Normandie and other transmarine parts ) and glutted them with the spoils and inheritance of the English ; and had to those large Territories and Demeasnes which he reserved to himself , and the Terra Regis and antient Demeasnes of King Edward the Confessor , which he united to the Crown a further increase by the no small Estates and Inheritances of some of his after unquiet great Nobility , as Edwin Earl of York , Ralph Earl of Suffolk , William Fitz-Osberne Earl of Hereford , Edric surnamed the Forrester Howard le Exul , Waltheof Earl of Northumberland , and divers other of the English and Normans . That which most concerned him and his successors in the reigns of William Rufus and Henry the First , the former of whom had his Estate augmented by the temporalties and vacancies of Bishopricks , Abbies and Priories , and the later by the Attainders and great Estates and Inheritance of Robert Mowbray Earle of Northumberland , Robert de Belesme Earle of Arundell and Shrowsbury , William Earle of Mortaigne and Cornwall , ( both of them having much in demeasnes , and a great deal more in service for Aydes in warre , holden of them , their Coloni or Glebae adscriptitii , socage Tenants , which did most of their servile works without money , and paid them besides an annual Rent in corn and other houshold provisions , ) was to quiet the ruined English , and by intermarriages of them and the Normans and Forreigners and other establishments , to assure what was gained to their posterities , the plenty and abundance whereof continuing through the reigns of King Stephen and King Henry the Second , who greatly inlarged his Dominions by the Dutchy of Aquitain , Earldomes of Aniou , Main , Poictou Touraine , and other Provinces and parts of France , the Lands of Henry de Essex his Standard-bearer by inheritance , forfeited for the treason of throwing it down and flying , and reporting that he was slain ; the Earldome of Lincoln ( Earldomes being then and long after not without great Possessions and Revenues belonging to them : ) the Lands of William Peverell Lord of Nottingham ; Conquest of Ireland , and whole Counties and Provinces thereof comming to be the Kings Demeasnes and the forfeitures to Richard the First of many of his Nobility and others who had taken part with his Brother John in his usurpation of the Regall authority . All which with the Escheats and Forfeitures of the Terra Normanorum in England , upon the losse of Normandy by King John unto the French , confiscated Lands of a great part of the English Nobility and Gentry , after the misfortune of Henry the Third , in the unquietness of many of his Barons and People , his better fortune in the battel of Evesham , and subduing them in the forty ninth year of his Reign , the accession to the Crown of the Earledoms of Derby , Leicester , Salisbury , and the County Palatine of Chester , with the vast Territories and Estates which belonged unto them , and many other lesser Escheats and Forfeitures ; the Forfeiture of Roger Bigod Earl of Norfolk and his Earldome , and great Possessions with divers other Escheats and Forfeitures , the Principality of Wales and the Conquest of Scotland in the Reign of King Edward the First , confiscating of the lands of inheritance ( for from the making of the Statute de Donis or Entails in Anno 13. of Edward the first , untill Anno 5 & 6 of Edward the sixth , Lands entailed were not forfeited for Treason ) of Thomas Earl of Lancaster , Lincoln and Derby ; Humphrey de Bohun Earl of Hereford and Essex ; of the Lords Clifford , Warrein , Lisle , Tutchet , Cheney , Mowbray , Teyes , Aldenham , Badlesmere and Gifford , and many other men of great note and eminencie to King Edward the second , the lands of Mortimer Earl of March , Edmund Earl of Kent , and the Escheat of the great Estate and Inheritance of Hastings Earl of Pembroke to King Edward the third , with several other confiscations and forfeitures , and his Conquest of a great part of France , the forfeitures of Robert de Vere Duke of Ireland , Michael dela Pooli Earl of Suffolk , of the Duke of Gloucester , Earles of Arundel and Warwick , and divers other great Inheritances to King R. 2. the marriage of John of Grant fourth son to King Ed. 3. to Blanch the sole daughter and heir of Henry Duke of Lancaster , Earl of Derby , Leicester and Lincoln , making that of Lancaster to be as a Principality or little Kingdome , which by Henry 4 , 5 , 6 , and 7th Kings of England coming afterwards to attend the Royal Dignity , accompanied by the forfeitures of the Dukes of Exeter and Albemarle , Mowbray Earl Marshal , Earles of Kent , Salisbury Huntington , Northumberland , Stafford , March and Worcester Owen Glendour ; Lords , Hastings , Despencer , Falconbridge , Bardolph , and many others to King H. 4. and the lands of the Earldome of Oxford long detained by him , confiscation of the lands of the Prior Aliens , and all France conquered and in possession , and many other great Estates coming to Hen. 5. by the Attainders of Richard Earl of Cambridge , Earl of Northumberland , Henry Lord Scroop ; the lands of Widevill Earl Rivers , and divers other Barons , the Dukedomes of Exeter and Somerset , and Earldome of Devonshire , and many other Lands and Inheritances forfeited to King Edward the Fourth , the Lands and Estate of Henry Duke of Buckingham , Earl of Stafford and Northampton , and Lord of Brecknock and Holderness , Henry Earl of Richmond , and Jasper Earl of Penbroke , with some other to King Richard the Third , accumulated by the great and Princely Inheritance of Richard Duke of York , and all the partakers of him and King Edward the fourth his brother , with the Lands and great Inheritance of the Countess of Warwick , gained by King H. 7. his fortune at Bosworth-field , and the marriage and inheritance , of the Royal and principall heir of the white Rose ; the confiscations of the lands of John Duke of Norfolk , Earls of Surrey , Warwick , Lincoln , Lords Lovel , Welles , Audley , and divers others , like many great rivers running into the Ocean of the Crown revenues , made its Lands and Estate to be as vast in Demeasnes , and Service , as they were Princely and honourable . Which being likewise abundantly enlarged by King Hen. 8. by the unprosperous dissolution of the Abbey and religious Lands , which the envy of the Laity in the reign of King H. 4. had ( over and above ( as they said ) what would serve for the remaning Clergy ) computed to be sufficient and enough to maintain fifteen Earles ( which after the rate of Earls in those dayes and their grand revenues , could not be a little ) fifteen hundred Knights , six thousand two hundred Gentlemen , and an hundred Hospitals , besides twenty thousand pounds per annum to be given to the King ( which was then more then one hundred thousand pounds per annum is now ) and were at their dissolution six hundred forty and five Abbeys , Priories and Nunneries , ninety Colledges , one hundred and ten Hospitals , and two thousand three hundred seventy and four Chanteries and free Chappels , then valued at one hundred-eighty six thousand fifteen pounds eight shillings penny farthing per annum . And together with the forfeited Lands and Inheritance of Empson and Dudley , George Lord Rochford , Edmond de la Poole Duke of Suffolk , the Duke of Buckingham , Earl of Surrey Lord Dacres , and divers others and the confiscation of his two great Favourites Wolsey and Cromwell , the former of which left him the stately Palaces of Hampton-Court and Whitehall , and the recontinuing of divers liberties withheld from the Crown by the Lords Marchers of Wales , made so great an accession and increase as the Court of Exchequer was not thought to be comprehensive enough for the care and governance thereof without the short-lived Courts of the Survay , and Augmentation , and First-fruits erected by Act of Parliament for the separate management of the Ecclesiasticall Revenues . By the dissolution whereof shortly after , and not trusting the Exchequer with the better care thereof , the regal revenues if Mr. Christopher Vernon , a late antient and expert Officer of that Court hath not been mistaken , or miscast it , were not so little damnified as six hundred thousand pounds sterling ; or if plenty had not as it most commonly useth , introduced profusion , and carelesness , might otherwise have been saved . Which with the Lands and Inheritance of the Duke of Somerset , and others attainted , added by King Edward the sixth , the forfeitures of the Duke of Northumberland ; William Parr Marquess of Northampton , John Earl of Warwick , Sir Thomas Wyat and others to Queen Mary ; the Lands of the Duke of Norffolk , Philip Earl of Arrundel , the Earls of Westmerland , Essex and Southampton , Sir John Perrot , Leonard Dacres , and others in the reign of Queen Elizabeth , and hers as well as King Edward the sixth's ill advised and unhappy clypping and lessening the Lands and Revenues of many Bishopricks , Deans and Chapters ; forfeitures of the Lord Cobham & Sir Walter Rawley , and of Winter , Grant , and other the Gunpowder Traytors ; the great revenues of the Earles of Tyrone and Desmond , and other large confiscated Escheats and forfeited Estates in Ireland , which came to King James ( for before his reign and the subduing of Tyrone , that Kingdome as to the publick was a greater charge then profit ) addition of Scotland and all the Appennages and Lands of the royal Brethren and Princes of the blood of England in their several times and ages , falling into the Regal Revenues , would have made a plentifull support for the Crown of England , if they had tarried ( as they did not ) one for another , and continued unwasted and unaliened . CHAP. II. Supplies and Additions to the Royall Revenues , and the many cares taken therein by Parliaments and otherwise . WHich could not be prevented by a thousand sixty one pounds and three half pence per diem revenue ex justis reditibus , which William the Conqueror had in daily revenue , after his Knights Fees and his large gifts and rewards given to his friends and followers ( which in the now value of money and rates of provision would a great deal more then treble that summe ) as Ordericus vitalis , who was born in his reign , and died in the beginning of the reign of King Stephen , hath informed us exceptis muneribus regiis , & reatum redemptionibus aliisque multiplicibus negotiis quae Regis Aerarium quotidie aduagebant , besides , Gifts , Presents , Confiscations , and other things which did daily increase his riches , nor by sixty thousand pounds sterling , 〈◊〉 by him in his Treasury , his Censas Nemor●m , rents or profits of Woods , Escheats and incidents of Tenures in Capite and by Knight service , Hidage , Danegeld , Sponte oblata , for all Grants or Favours which passed from him , Cambium Regium , or benefit of Exchanges , rating of the Fees of the Officers of his Household to a certainty per diem , taking accounts upon oath for all his monies issued out or imprest for repair of his Castles and Houses , and fines for granting of Priviledges and Liberties , Contributions to William Rufus towards the building of Westminster-Hall , three shillings upon every hundred Acres or Hide of Land in England to King Hen. 1. and his providence in making every third year a survey of his Woods and Forrests , changing of the penalites of mutilation of members into pecuniary mulcts , turning of his rents which were formerly paid in corn and other houshold provisions , into money , and six pence overplus in every pound for any loss or abatement which might happen in the value of money , which being then by reason of his often absence and residence in Normandy reckoned to be good husbandry , proved shortly afterwards by the change of times , & dearer rates of provision to be the contrary , and a great disadvantage to his Successors ; one hundred thousand pounds in money , besides Plate and Jewels left by him in his Treasury , and possest by King Stephen , resumption of divers Lands aliened from the Royal Revenue ; reforming of the Exchequer by Hen. 2. revoking of all Grants of Lands aliened from the Crown , of the Castles of Clebury , Wigmore and Bridgnorth from 〈◊〉 Mortimer , City of Gloucester and Lands belonging unto it from Roger , Fitz Miles Earl of Hereford , Castle of Scarborough from William Earl of Albemarle , with many other Lands , Towns and Castles ; and from William Earl of Mortain and Warren , base Son to King Stephen , the Castle of Pemsey and City of Norwich ; notwithstanding that himself had granted them to the said William Earl of Mortaign in his agreement with King Stephen , alledging that they were of the Demeasnes of the Crown , and could not be alienated , calling of certain of his great Ministers of Estate to account , and imposing a Tax of two pence upon every yoke of Oxen in Ireland , and two pence in the pound by Act of Parliament of every mans Lands and goods in Normandy , to be paid in the year 1166. and a penny in every pound to be paid for four years following , for the relief of the Christians in the Holy warre , enquiring by his Justices Itinerants , and Articles in Eyre in England of the rights of his Crown and Exchequer , taxing in the 32. year of his reign all his Dominions in France , with the Tenth of the Revenues for that year of all , as well Clergy as Laity but such as went in person to the Holy warre , the tenth of all their moveables , as well gold as silver , and the tenth of the moveables of two hundred of the richest men in London , and of one hundred in York , banishment of William de Ipre Earl of Kent , with his Countrymen and followers , when they grew to be a burden to the Kingdome ; nine hundred thousand pounds in money besides Plate and Jewels inestimable left in the Treasury to his Son King Richard the first , great summes of money gained by him by renewing Charters and Fines imposed upon Sheriffs and Accomptants , and such as had taken part with his Brother John in his usurpations , the tenth of all moveables granted to him , and the City of London giving him a voluntary contribution towards his voyage into the Holy Land ; banishment of Otho Earl of York , the Son of his . Sister and all the Bavarians ; a fourth part given him by Parliament of all spirituall and temporall Revenues , as much for moveables , and twenty shillings for every Knights Fee , resumption of many Grants of Lands and Annuities , two shillings of every plough land taken for preparation of a journy to Normandy ; examination of the Accounts of his Exchequer Officers , five shillings laid upon every plough land for another forrain voyage , and a general survey made of his Lands and Profits . Three shillings for every plough land granted by Parliament to King John for his affairs in Normandy , one hundred thousand pounds taxed upon the Clergy towards his charges in Ireland , a thirteenth of all Spirituall and Temporall mens goods , twenty six shillings eight pence for every Knights Fee two shillings upon every plough land , an Ayde of twenty six shillings and eight pence of every Knights fee towards his warres in Wales , with Escauge of such as held of him besides Benevolences , Escheats and Americiaments ; twenty shillings of every Knights see towards his charges in Normandy , forty shillings at another time , and an Ayde for the marriage of his Sister Isabel to the Emperor Frederick . The fifteenth part of every mans moveables to King Henry the third for a confirmation of Magna Charta and Charta Foreste , fortieth part of every mans goods towards the payment of his debts , and a thirtieth part afterwards granted by Act of Parliament , much of his Forrests and Woods converted to errable land , his Parks of Woodstock and Gillingham ploughed , many Grants made in his minority revoked , his great Officers as Hubert de Burgh Earl of Kent , Chief Justice of England , and others called to account , Ranulph Britton Treasurer of his Chamber fined in one thousand marks , a great summe of money given by the City of London to be made Toll-free , every one that could dispend in land fifteen pound per annum ordered to be knighted or pay a Fine ; great summes of money gained by composition with Delinquents at seven years value of their Lands by the Dictū de Kenilworth , his houshold charges lessened , a meaner Port kept , less Almes given , his Jewels and the Crown royal pawned , Plate sold to pay his debts at no greater a value then the weight though the workmanship did cost as much , and the golden Shrine of Edward the Confessor , forty shillings for every Knights see twice assessed for his warres in Gascony , great sums of money raised of the Iewes , the banishment of the Poictouins and his half-brothers who had made it too much of their business to beg what they could of the Revenue , and by his own sometimes sitting in the Exchequer to preserve it ; thirty two thousand pounds sterling received of Leolin Prince of Wales propaee habenda , and a resumption of divers of the Crown Lands which had been aliened . Nor by an Inquiry in Anno 4. of King Ed. 1 , by Act of Parliament of the Castles , Buildings , Lead and Timber of the Kings , his Demeasnes , Parks , Woods , extent of Manors , forrain Parks and Woods , Pawnage , Herbage , Mills , Fishings , Freeholds , Cottages , Curtilages , customary Tenants , Patronages , Perquisit●s of Courts , Liberties , Customes and Services ; a Subsidie in Anno 6. of his reign of the twentieth part of every mans goods towards the charges of his warres in Wales , the Statute of Quo warranto in Anno 18. to inquire and seise into the Kings hands all liberties usurped ; a Subside in anno 22. of his reign upon Woolfels and Hydes transported , a tenth of all goods , the eighth of the goods of the Citizens and Burgesses , a twelfth of the rest of the Laity , and a moiety of the Clergy ; in anno 25. and in anno 26. the ninth penny of the Commons , the tenth penny of the Clergy of the Province of Canterbury , and the fifth of York , taking away much monies from the Priors Aliens , payment by the Clergy in anno 23 of all such summes of money which they had promised to pay to the Pope towards the maintenance of the Holy warres , and half a years value of their Ecclesiasticall livings and promotions , abased monies , four hundred and twenty thousand pounds fifteen shillings and four pence raised from the Jewes , and a farre greater summe afterwards , contribution of ships and ship-money by the maritime Coasts and Counties in case of danger and invasion , sixty five thousand marks of silver received for Fines of some corrupt Judges , and great summes of money likewise for forfeitures by an Inquisition or Commission of Trail Baston . A fifteenth of the Clergy , and a twentieth of the Temporalty to King Edward the Second , in anno primo of his reign , the moveables and personal Estate of the Knights Templers in England , Contribution of ships and ship-money by the maritime Counties ; a fifteenth in anno 6. and the great and rich confiscated personall Estates of the two Spencers , Father and Son , and an Ordinance made pro Hospitio Regis , concerning the regulation of his Houshold . Thirty thousand marks paid to King Edward the third in anno 2. of his reign by Robert Bruce King of Scots , to release his Soveraignity to that Kingdom ; a tenth of the Clergy Citizens and Burgesses , and a fifteenth of others granted in anno 6. of his reign , Aids of ships & ship-money by the Sea-coasts ; and in an . 13. the tenth sheep of all the Lords Demeasnes except of their bound Tenants ; the tenth fleece of wool , and the tenth lamb of their store to be paid in two years ; and that such of them or their Peers as held by Baronie , should give the tenth of their grain , wool and Lamb , and of all their own Demeasnes , and two thousand five hundred sacks of wool given by the Commons anno 14. the ninth of the grain , wool , and lamb of the Laity , to be paid in two years ; the ninth of the goods of the Townsmen , and the fifteenth of such as dwelt in Forrests and Chases anno 17. forty shillings for every Sack of wool over and above the old rate anno 18. a Disme by the Clergy of Canterbury for three years , two fifteenths of the Commons , and two dismes of the Cities and Towns to be levied in such wise as the last in an . 20. two fifteens to be paid in two years anno 21. two shillings upon every Sack of wool , granted by the Lords without the Commons in anno 22. three fifteens to be paid in three years : All such treasure as was committed to Churches throughout England for the Holy warre , all the goods of the Cluniacques , Cistercians , and some other Orders of Monks , half the wools of the Laity , and the whole of the Clergy ; the jewels of the Crown pawned , imprisonment of his Treasurer , abasing some of his 〈◊〉 and ordaining some of his Exchanges of money to be at London , Canterbury and York , monies abated in weight and made to pass according to former value , and the profits which the forrain Cardinals enjoyed in England during their lives , taken into his hands ; one hundred thousand pounds received for the ransome of John King of France , great sums of money for the ransoming of David King of Scotland , Philip afterwards Duke of Burgogne , Jaques de Bourbon , and many of the French Nobility ; fifty shillings granted by Parliament in anno 43. for every sack of wool for six years ( by which imposition only , as the Trade of Wools and Cloathing then flourished , the King , as it was computed , might dispend one thousand marks per diem ) fifty thousand pounds by the Laity , and as much by the Clergy , granted him by the Parliament in anno 45. to resume his right in France : a Poll-money by Act of Parliament of four pence for every person of of the Laity that took not almes , of every Clergy-man beneficed twelve pence , and of every Religious person four pence , in anno 50. and a resumption of divers of his Crown Lands . A Subsidie in the first year of K. Richard the second levied upon the great men , to spare the Commons , Poll-money of every person above fifteen years old , Fines of seaventeen shires in anno 21. and causing them to pay great summes of money for aiding the Duke of Gloucester , and Earles of Arrundel and Warwick ; the Bohemians which pestered his Court banished , and a resumption of divers of his Crown Lands . A tenth of the Clergy , and a Subsidie of twenty shillings upon every Knights Fee , twelve pence of every man and woman that could dispend twenty shillings per annum above reprises by their Lands , and so proportionably according to their land revenues , twelve pence of every one whose goods were valued at twenty pounds , and proportionably to what it exceeded , gran-to King Henry the fourth ; seven hundred thousand pounds found in King Richard the second 's Treasury , two fifteenths of the Commons in the sixth year of his reign , a tenth and a half of the Clergy , and of the Commons two fifteenths in the ninth , a Subsidie by the Laity , and half a mark a piece of the Stipendary Priests and Friars , in the tenth a Subsidie to be levied through the Realm , and in anno 11. a fifteenth , a resumption of many Grants and Annuities , regulation of his Houshold , and banishment of the Gascoigners and Welsh , impoverishing him and the Kingdom by Petitions and Suits . Great summes of money given to King Henry the fifth by the Clergy , a Subsidie by the Clergy and Laity , a double Disme , and a fifteenth by the Laity , and in the 9th year of his reign two tenths of the Clergy , and a fifteenth of the Laity , and another fifteenth in the same year , his Crown Royall and Jewels pawned , and a resumption of divers Lands and Annuities granted to unworthy persons . To King Henry the sixth in anno primo of his reign a Subsidie of five Nobles upon every sack of wool transported for three years , forty three shillings of every sack of wool carried out by Merchant strangers , a Subsidie of twelve pence in the pound of all merchandize imported or exported , 3. shillings upon every Tonne of wine for three years granted by Parliament , in 〈◊〉 3. a Subsidie of three shillings upon every Ton of 〈◊〉 and of all other Merchandize twelve pence per pound , except woolfell and cloth or every Benefice of ten marks per annum , ten of that parish to pay six shillings and eight pence , of every Benefice of ten pounds per annum , ten parishioners to pay thirty shillings , and four pence , and so rateably for every Benefice : And of the Inhabitants of Cities and Boroughs every man worth twenty shillings above his Housholdstuff , and his own and wives Apparrel four pence , and upwards after that rate or proportion ; in anno 8. a Disme and fifteenth of the Laity . Great summes of money raised by King Edward the fourth by penal Lawes and Benevolences , resumption in the seventh year of his reign of all manner of gifts which he had given from the first day of his reign ; A Subsidie in anno 8. of two fifteens and a half , and in anno 13. a Subsidie . Some Taxes laid upon the people by King Richard the third , and a resumption of all Lands and Estate granted to Elizabeth Grey Queen of England . A Subside to Henry the seventh in an . 2. of his reign at a tenth of every mans goods towards the setting forth an Army into Britain anno 4. two fifteens of the Laity , and two Dismes of the Clergy , Poll-money , of every Duke ten marks , every Earle five pounds , every Baron four pounds , every Knight four marks , of every one worth forty shillings , twelve pence , of every one that took wages twelve pence , of every man above fifteen years old four pence ; anno 6. great Benevolences , anno 11. a Subsidie towards his warres in Scotland , anno 〈◊〉 Benevolences and great Fines upon penal Lawes , 〈◊〉 ●●ghteen hundred thousand pounds left in his Treasury ▪ say the Historians , but as the Lo●d Treasurer Cecil Earle of Salisbury , informed King James four Millions and a halfe . Divers Subsidies granted to King Henry the eighth in anno 6. of his reign , and in anno 14. another Subsidie upon goods , a years value for one year of all the Clergies spiritual livings , a great summe of the Laity in the Parliameat following ; anno 25. a Subsidie of four pence per pound in goods from twenty shillings to five pound , from five pounds , to ten pounds , eight pence , from ten pounds , to twenty pounds , sixteen pence , from twenty pounds and upwards , two shillings , of all strangers double , of all Strangers not Inhabitants four pence a head , of every one that had Lands , Fees , or Annuities ▪ eight pence the pound , from twenty shillings to five pounds , and so doubled according as they did for goods by several proportions , and of the Clergy three shillings in the pound ; great sums of money and treasure by the confiscation of Cardinal Wolsey : Anno 26. tenths and first-fruits of the Clergy formerly paid to the Popes granted unto him ; An. 36. a Benevolence ; An. 37. a Subsidie of six shillings per pound of the Clergy , two shillings eight pence of the goods of the Laity , and four shilligs per pound of Lands , tenths of all Abby and Religious Lands reserved upon his Grants , two hundred thousand pounds paid by the Clergy of the Provinces of York and Canterbury to be excused from a Praemunire , and the vast and inestimable treasure in Money , Plate , Shrines , Jewels , Copes and rich moveables upon the spoil of the Abbies and Religious Houses . An Ayde given by Parliament to King Edward the sixth , in the 2d . year of his reign , of twelve pence per pound of the goods of his naturall Subjects , two shillings per pound of Strangers for three years , of every Ewe kept in several pastures three pence , of every Weather two pence , of every Sheep kept in the Commons three half pence , and eight pence per pound of every woollen Cloth made for sale throughout England , anno 6. Commissions given out for sale of Church goods , an . 7. one Subsidie and two fifteens granted by Parliament , and the gain for some years made by the Coynage of Bullion sent from Sweden and returned in Merchandise . One Subsidie of the Laity given to Queen Mary in anno 2. of her reign , eight pence in the pound , from five pounds , to ten pounds , from ten pounds , to twenty pounds sixteen pence per pound , and of all strangers double . To Queen Elizabeth in anno primo , a Subsidie and two fifteens of the Clergy , and a tenth of the Temporalty : Anno 5. a Subsidie of the Clergy and two fifteens of the Temporalty ; Anno 8. a Subsidie of the Clergy , and a subsidie , fifteenth and tenth of the Temporalty ; Anno 13. a Subsidie of the Clergy , one subsidie , two fifteenths and a tenth of the Temporalty , anno 18. a subsidie of the Clergy , two fifteenths and tenths of the Temporalty ; Anno 23. the like , Annis 27. & 29. the like ; Anno 31. two subsidies of the Clergy and three subsidies and six fifteens of the Temporalty ; Anno 39. three subsidies of the Clergy and Temporalty , and six fifteens of the Temporalty ; An. 43. four subsidies of the Clergy , and four subsidies and eight fifteens of the Temporalty , the pawning of many of her Jewels , and mortgaging divers of her Lands . A Subsidie of Poundage and Tonnage , Wools ; Woolfels and Leather anno primo Jac. two parts of Recusants Lands convicted ; in anno 3. four Subsidies in the pound by the Clergy , and three entire Subsidies , and three Fifteenths and tenths , and three hundred and fifty thousand pounds for Subsidies unpaid to Queen Elizabeth ; Anno 7. an Ayd to make his Son Prince Henry a Knight ; Anno 18. two Subsidies of the Laity and three of the Crergy ; Anno 21. three Subsidies and three fifteens of the Temporalty and some Subsidies of the Clergy . Primo Car. primi , three entire Subsides by the Spiritualty ; 3. Car. five entire Subsidies granted by the Spiritualty , and as many by the Temporalty ; great sums of money raised by Ship-money , and by an Act of Parliament for Poll-money , pawning all his Jewels , and the benefit for some years of Coynage , of two hundred thousand pounds of Spanish Bullion , and returning the value in English Commodities . All which being great supplies and easements to the charges and burdens of our severall and successive Kings and Princes ( and were not without some charge in the collection ) would have been much greater if the people of England , keeping close to a long custome of not only getting all that they can from their Kings and Common Parents , but returning as little as they could of their Aydes or Thanks unto them , would have permitted them to arrive to a just or true valuation , or any more then a small part of what they should be content to rate one another at , having by an Act of Parliament in 6. Ed. 3. obtained of the King , that from henceforth all Aydes should be taxed after the old manner ; and not otherwise ( the Subsidies being most commonly rated but at two shillings eight pence in the pound for goods , and four shillings in the pound for lands , with consideration of debts and other diminishing circumstances ) and put in the Ballance and compared with that which was given to the people , by the Confirmations of divers Kings and Queens of Letters Patents and Lands given therein , Coronation Pardons , the General Pardons of 21 Jac. those in the Reign of Queen Elizabeth , and of some of our later Kings and Princes ( for in the Reigns of many of the former , they were not so frequent , general , or usuall . ) The Act of Parliament of 21 Jacobi Regis , for debarring the Kings Title to concealed Lands after sixty years possession , where nothing within that time had been answered or paid to the Crown , or was in super , and the last all-surpassing Act of Indemnity and General Pardon granted by King Charles the second , would be farre surmounted by those and many other beneficiall Acts of Parliament , granted in every King and Princes reign , of liberties and benefits to the people . And were not enough or sufficient to repair the decayes of the Regal Revenues , or keep them from a consumption occasioned by their vast charges of our Kings as well in times of warre as peace , to keep their people in safety , peace and plenty , nor to cure the Revenue of a Hecticque Fever of almost 500 years continuance , though some of our Kings and Princes took some parts of Trade into their own hands to supply their necessities , as the Wool by King Ed. 1. Tinne by Ed. 3. that and corn by Hen. 6. and Beer transported by Queen Elizabeth , and notwithstanding the care and provision of divers Parliaments to have the Crown Lands not alien'd or wasted and the care of the Laws of England , that the grants of the King shall be void where he is deceived or not truly informed : The Ordinance in the 21 of Richard the second that whatsoever should come to the King by Judgment , Escheat , Wardship , or any otherwayes , should not be given away : That of primo King H. 4. ca. 6. that in a Petition to the King for Lands , Offices , or any Gift the value thereof shall be mentioned , and of that also which they have had of the Kings gift , or of other his Pregenitors or Predecessors before ; and in case it be not , their Grants shall be void and repealed ; the Ordinance of 21 R. 2. that the Procurer of any gift should be punished , continued untill 7 H. 4. untill the King should be out of debt , under penalty of forfeiting the double value for moving or procuring any such suit : The Statute of 4 of H. 4. cap. 4. that the King grant no Lands or other Commodities but to such as shall deserve them ; and if any make demand without desert he shall be punished by the Councell , and not obtain his suit : In 11 Hen. 4 , That Petitions for any such Grants delivered to the King be examined by his Privy Councell lest the Kings wants should light upon the Commons ; and in 2 H. 6. That all the profits by Wards , Marriages , Reliefs , Escheats , and Forfeitures should be expended in helping to defray the charges of the Kings Houshold , an account of the Kings Revenue in 1. Hen. 6. in England , Ireland , Wales and Aquitaine , and of his charges and expences delivered into Parliament by Ralph Lord Cromwell Lord Treasurer of England , and the Dukes of Bedford and Gloucester , and divers of the Lords of the Kings Councell appointed to consider thereof ; the Acts of Parliament in 18 and 43 Eliz. That the Queen should be answered for the overplus , of the value of Lands granted by her Letters Patents after the rate of threescore years purchase : The abating in several Kings Reigns the expences of Houshold and of their Retinue Favourites Gifts and Rewards , and lessening of charges in Warre by Tenures in Capite and Knight Service ; Aydes to make their eldest Sonnes Knights ; and for the marriage of their eldest Daughters , Profit of Annum diem & vastum , Aides and Assistances by Grand and Petit Serjeanties , Aurum Reginae , or something presented to the Queen in former Kings Reigns upon Grants of Lands or Estate , Licences to Trade with prohibited Merchandize , raising their Customes , and sometimes farming out their Ships , Fines upon licences of Alienation or Pardons , Espargne of the Royall Revenue by the Marriages of the Heirs of the Nobility and Gentry of great Estates , and transplanting and inoculating of great and Noble Families and Estates into one another , not only for their good and advancement , but the peace and welfare of the Kingdome , and the checque which King James gave to suits and importunities at Court after that he had given away too much of his English Crown Lands to his craving Countreymen of Scotland , publickly declaring what kind of Suits or Requests might be demanded of him , and what he would not grant ; his orders to have once in every quarter of a year Certificates or Accounts of moneys issued for his Houshold , Wardrobe , Jewel-house , Chamber , Navie and Stables , and his care and advice with his Privie Councel for supplies of his Revenues and regulating his expences , for that the Exitus was every year by affairs , troubles and cares of State , disturbances , and accidents often happening , a great deal more then the Introitus , the disbursements farre exceeding the incomes , the ordinary receipts coming farre short of the ordinary disbursements , and the extraordinaries very much out-going the ordinaries . CHAP. III. Ruine and Decay of the Revenues . BY reason of the great charges and expences which the Kings of England were at through their severall Generations , to protect and defend themselves and their people ( though some of them , as in all other conditions and sorts of men were sound to be less provident then others , and more easie to the flatteries of Courtiers , or the necessities or importunities of Favourites or Followers , as King Edward the second and King Richard the second ) sixty thousand Knights Fees , or maintenance for them given away by William the Conquerour of which the Religious Houses then , or in the near succeeding times , came to be possessed of 28115. the yearly value of which number of Knights Fees , if now they should be estimated but at ten thousand , and valued but at the rate of twenty pounds per annum , as they seemed to be at the making of the Statute of 1 Ed. 2. would be worth two hundred thousand pounds per annum , and if at three hundred pounds per annum , which is now the least of the improvement ( Sir Edward Coke reckoning eight hundred , and others six hundred and eighty acres to a Knights Fee , and others at the least allowing a large proportion ) would make three millions per annum sterling , two hundred and eighty Manors given to Godfry Bishop of Constance , which he left to his Nephew Moubray , the Isle of Wight , Earldome of Devon , and Honour of Plimpton given by Henry the first to Richard de Ripariis or Rivers , Earldome of Gloucester to Robert Fitz Henry ; great possessions given away by King Stephen to purchase love and fidelity , the great Estates in Land which Maud the Empress was inforced to grant , and her Son King Henry the second afterwards to confirme to divers of the great men and Nobility , as the Earldom of Oxford to Awbrey de vere , Earldome of Arundel to William de Albeney , Earldome of Hereford to Miles of Gloucester , and of Essex to Jeofrey Magnauile to forsake the usurping King Stephen , and the great charge which those twenty years warres expended ; the wars of King H. 2. in France , and with his own Sons there and at home , and of seven and forty thousand three hundred thirty three pounds six shillings & eight pence expended and given towards the warres of the Holy land , great somes of gold and silver sent to the Pope , charges of the voyage or expedition which King Richard the first made in person into Asia and the Holy Land and his ransome ; the Earldomes of Mortaigne , Cornwall , Dorses , Somerset , Nottingham , Derby and Lancaster with all their great possessions being a great part of the Crown Revenues given to his brother John , and a great part of the remainder sold : The troubles of King John with his boisterous Barons , the Stanneries Castles and Honor of Barkhamstead and County of Cornwall granted by King Hen. 3. to his Brother Richard his great warres and turmoils in the Barons warres , which drove him to such wants and perplexities as he and his Queen ( as Matthew Paris tells us were somtimes enforced to seek their daily and necessary sustenance from Monasteries , charge of endeavoring at a great rate and price , though unsuccesfully to make his Son Edmond King of Sicily , and furnishing his Son Edward afterwards King. E. 1. with an Army to Jerusalem , that of King Ed. 1. in his wars against the Scots , and subduing that Kingdom , the raising and advancing the unhappy Favorites , Gaveston and the two Spencers , Father and Son , by King Edward the Second , and his troubles , great expences of Edward the Third , in his Conquering of France , the Dukedom of Cornwal , and Earldoms of Chester and Flint , setled upon the Black Prince his Son , and the eldest Sons and Heirs of the Kings of England successively , preferring of Lionel Duke of Clarence , and his many other Sons , restoring of Don Pedro to the Kingdom of Castile , by the aid of the Black Prince , the Earldom of Salisbury , Isle of Man , Castle and Barony of Denbigh , given to Mountacute , and one Thousand Marks Lands per annum besides , to him and his Heirs for taking Roger Mortimer Prisoner at Nottingham Castle , one thousand pounds per annum with the Town and Castle of Cambridge , to William Marquess of Juliers and the Heirs of his body , Honor of Wallingford and Earldome of Cornwall escheated , given to John of Eltham his Brother , the penalties and fines of Labourers , Artificers and Servants in anno 36. of his reign given to the Commons for three years to be distributed amongst them the maintaining and humoring of severall Factions of the great Nobility by King. Richard the second his voyage into Ireland , and after misfortunes , raising of John Beaufort Earl of Somerset and John Holland , his half-Brother , to be Earl of Kent and Duke of Exeter ; dissentions and troubles in the Reign of King Henry the fourth , preferring another of the Beauforts to be Earl of Dorset , and his establishment as well as he could in his own usurpations , Chirk and Chirk Lands in Wales given by King Henry the fifth to Edmond Beaufort second Son of John Beaufort Earl of Somerset , the charge of his Conquest of France , the seeking to preserve and keep it by Henry the sixth , long and bloody Factions and Warres of York and Lancaster , Kendal , and other great possessions given to John de Foix , a Frenchman , in marriage with Margaret the Sister to William de la Poole Duke of Suffolk , the Earldome of Shrowsbury to the high deserving Talbot , the Isles of Guarnsay and Jersey , and the Castle of Bristol to Henry Beauchamp Duke of Warwick , the charge of King Edward the fourth in his getting the Crown , the Earldome of Pembroke given by him to William Lord Herbert , the making of friends and parties by King R. 3. pacifying of Interests by King. Hen. 7. his gifts and grants to Stanley . Earl of Derby , and the dying the white Rose into the Red , or uniting of them , the voyages and warres of King H. 8. in France , preferring of Charles Brandon to be Duke of Suffolk , Seymour to be Earl of Hertford , Ratcliffe Earl of Sussex , Thomas Manors Earl of Rutland , Sir Thomas Bolein to be Viscount Rochford and Earl of Wiltshire ; his contest with the Pope and other great Princes , large and great quantities of Religious and Ecclesiasticall Lands given away to divers of his Nobility many of whom had been the former Donors thereof , and to divers of the Gentry to corroborate what he had done , bring them into a better liking of that action , and to be the more unwilling to leave those Lands which he had given them , a remission of all debts without schedule or limitation in anno 21. of his Reign , endowing six Bishopricks and Cathedrall Churches , Pensions for life to many which were turned out of their Cloisters , a perpetuall maintenance to the Professors of the Greek and Hebrew Tongues , Civill Law , Divinity and Physick in both the Universities , and to twelve poor Knights at Windsor ; the warres of King Edward the sixth in Scotland , creating of John Dudley Earl of Warwick Duke of Northumberland , Seymour Duke of Somerset , Russell Earl of Bedford , St. John Earl of Wiltshire , Rich , Willoughby , Paget , Sheffeild , Barons ; his giving away great quantities of Ecclesiasticall and Chantry Lands , Viscount Mountague , Lord Howard of Effingham , Lord North advanced by Queen Mary , the Subsidie of four shillings in the pound for Lands , and two shillings for Goods granted to King Edward the sixth in the last year of his Reign , remitted by her , and nine thousand two hundred pounds land per annum of the Crown given away , paying at the same time twelve pound per cent . Interest for twenty thousand pounds borrowed of the City of London , and the greater charges and Expences of Queen Elizabeth , in protecting the Neatherlands and United Provinces , which cost her five hundred thirty four thousand pounds , and four hundred thousand pounds in succouring King H. 4. of France , besides what was disbursed for other Protestant Allies , guarding the Back-door of Scotland , relieving & guarding the young King , who was afterwards her Successor , endeavouring to reduce Ireland to its former obedience , which in a few years cost her , as the Lord Treasurer Cecill Earl of Salisbury in the Reign of King James informed the Parliament , nineteen hundred twenty and four thousand pounds , and defending her self from the Assaults and machinations of the Pope , King of Spain , and other Catholick Princes , advancing and enriching Cecil L. Burghley , Sackvile L. Buckhurst , Charles Blount Lord Mountjoy , Knowles , Wotton , Sidney , Carew , Petre , Compton , Cheney , Norris , and Stanhop , to be Barons ; and creating of the Earls of Essex , Leicester , Lincoln and Warwick : Remission of a Subsidie granted to Q. Mary , Farming of her Customs to Smyth but for thirteen thousand pounds per annum , afterwards to forty two thousand pounds , and raising them after that only to no more then fifty thousand pounds per annum , five hundred thousand pounds spent by King James in a totall subduing of Ireland , three hundred and fifty thousand pounds paid for Queen Elizabeth's debts to the City of London , for which some of the Crown Lands were mortgaged , and for debts to the Army , Admiralty and Wardrobe , and discharging the reckoning of brass money in Ireland with the same sums in silver ; his vast expences by Treaties and Ambassadours , amounting in the seventh year of his Reign unto five hundred thousand pounds , to keep us in our envied peace and plenty ; four hundred thousand pounds disbursed in relieving the Dutch , besides what was spent in satisfying the greedy cravings of the Scottish Nation , preferring and raising of the Duke of Richmond , Ramsey , Earl of Holderness , Earls of Carlisle , Kelley , Morton and Dunbarre , Howard Earl of Northampton , Carr Earl of Somerset , Herbert Earl of Montgomery , Villers Duke of Buckingham , Cranfeild Earl of Middlesex , Cecill Earl of Salisbury , Howard Earl of Suffolke , Mountague Earl of Manchester , Ley Earl of Marleborough , and Digby Earl of Bristol . All which and many more which might be here enumerated , did not only as was usuall in the Reigns of our former Kings , by necessary bounties encouraging of virtue and valour , rewarding of merits and high deservings of Ministers of State , and great Atchievements of men of warre through a successiion of ages , accidents , occasions , and reasons of State , draw and derive their honours from those fountains of Honour , but large Revenues and Lands many times likewise , to support and maintain their Dignities , and sometimes upon the Petitions of the Commons in Parliament , as to conferre upon John of Gaunt Duke of Lancaster , the Dukedome of Acquitaine in the reign of King Edward the third , to make John Holland the Kings half-Brother Earl of Huntington in the reign of King Richard the second , and to preferre and advance the Lords John and Humphrey , Sons of King Henry the fourth : and sometimes great Pensions and Annuities were given for life untill Lands could be provided to support them , in reward of virtue and their services done or to be done for the good of the Nation , and to continue them and their posterities as props and pillars of the Royall Throne in a gratefull acknowledgment of the favours received from it ; And besides those former rewards and Ennoblishments , puts it at this day for Creation money , paid to the Dukes , Marquesses and Earls , to no less a charge then one thousand pounds per annum , by which the people were in all ages no loosers , when the Honour strength and defence of the Kingdome was maintained and increased by them , and themselves kept in peace and plenty , the manner of living in ancient and better times , being with little money and small rents , great services , by the thankfull and ready duty and affections of Tenants to their Benefactors and mesne Lords , not only made them great in power , but enabled them to imitate their Princes , as much as they could in great hospitalities , deeds of charity and almes , building and endowing of Churches , Abbies , Priories and Religious Houses , and giving large Inheritances to their Servants , Friends and Followers pro homagio & servitio , and other dependances , Common of Estovers and of great quantities of Lands to severall Cities , Towns and Villages and in such a plentifull manner distributed and gave their Lands , as if the Lands in Capite & by Knight Service , Coppyhold Lands & Commons , which our King's Nobility and Gentry bestowed heretofore upon the inferiour sort of people , and what they dedicated to God by giving to Churches , Religious Houses , Colleges , Churches and Chappels , should be surveyed and measured , they would amount to no less then two parts in four of the Lands of the Kingdome . The quondam lethargie , sleepiness and unactivity of many of the Officers of the Exchequer who should be as the Argus eyes to guard the Royall Revenue ; the indulgence heretofore , or neglect of some of her Officers , and their not remembring that they were to be the Kings and his Treasurers Remembrancers , respiting or nichiling of his debts upon feigned Petitions , which can tell how to deceive the most carefull Barons or Judges of that Court , when their Soveraign suffered in the mean time very great damage for want of the money , the not duly estreating of all Fines and Amerciaments , corrupt compounding for such as were estreated by under Officers at easie rates , granting to the City of London their Fines and Amerciaments , want of looking after , as they doe in other Nations , the execution of those multitudes of penall Lawes ( which otherwise will be to little purpose ) and assisting the collection of the Kings legall profits arising thereby , the heretofore carelesness or corruption of some of our former Kings Officers , who for fees of favour enlarged their Charters and Grants to bodies politique , Cities , Towns and Corporations , and to as many private persons as would petition for them , and decked them with the flowers of the Kings Crown which were not to be parted with so easily . So as what by Grants or Prescription which in many cases is but the incroachment or filchings of liberties and priviledges , concealed or not well looked after , covered and drawn into a property by a time beyond the memory of man upon a meer supposition , that there might possibly have been a loyal or good grant or commencement for them , every little Manor of those multitudes of Manors and Franchises ( which the Commons in a Parliament of King Edward the third complained off ) and proportions of Lands in England ( many of which are called Manors by supposed Titles or reputation only ) as so many little Seigniories , Jurisdictions or Royalities as they are improperly called , have Courts , Leet and Baron and free warren , some of whom enjoy the honor and profit of the King in trying and executing Felons , and many using all manner of inferiour justice upon the Tenants , correction of the Affize of Bread and Beer , have Tolles , Fairs , Markets , Fishings , Waives , Estraies , Felons goods , and of persons outlawed , and waived , Issues , Fines and Amerciaments , Wrecks of Sea , Deodands , Mortuaries , Treasure , Trove , and punishment of breach of the peace , &c. granted or claimed as belonged to them . The not having a Clerk for the King besides the Clerks of the Assizes , to keep a Roll of all Fines Amerciaments and Profits due to the King in the Iters or Circuits , to estreat and certifie them into the Exchequer , as was usual in the Reigns of Henry the third , Edward the first , and the elder Kings , and many of the Justices of peace not duly certifying their Recognizances . The letting the Greenwax to Farm with defalcations of such as the King shall grant away , which breeds no smal neglect in the payment or gathering of it , the not duly making or sending the originall Roll of the Chancery into the Exchequer , the posting off many of the Kings Farms , and debts de anno in annum by some of the former Clerks of the Pipe , not holding the Sheriff to a strict opposal , nor inforcing them to pay the monies levied of the Kings before their discharge or departure out of the Court , not drawing of debts down into the Cedule Pipae , being a more forcible process ; the heretofore Stewards and Bayliffs of Manors belonging to the Crown , not justly accompting in the Exchequer as they ought , the not awarding ( as there shall be occasion ) Commissions to worthy Gentlemen of every County to enquire of the Kings debts not levied , and of the Sheriffs and other his Officers ; false Accomps , ordained by the Statutes of 3 E. 1. c. 19. and 6 H. 4. cap. 3. neglect of the former Clerks of the Estreats , and many other abuses crept into evil customes by some Officers or Clerks of that Court : and in anno 1641. discovered and published by Mr. Vernon ; the superfluous number and charge of many Stewards , Bayliffs and other Officers imployed , which besides the many deceits used by some of them to the King , and exaction upon the people , did , as was informed , in their annuall Fees paid and allowed by the King , yearly exceed three thousand pounds more then what they accompted for , the selling or granting away and dismembring many Hundreds , Wapentakes and liberties from the Crown , and bodies of the Counties , which the Statutes of 2 and 14 Ed. 3. doe prohibit to be aliened . The falshood of such as did formerly make kind and easie particulars to such as were to buy or have any of the Kings Lands given them ; knavery and abuse of Under Sheriffs , carelesnes and covetousness of the High Sheriffs in appointing them , and not looking better to the performance of their own oathes as well as theirs . The not duly accompting for prizes taken at sea , and other maritime profits : the heretofore sleepiness or slugishness of Justices of Peace in all or most Counties and Cities , who being intrusted by the Law to take care of the observation of some scores of Statutes and Acts of Parliament would , though their eyes and ears might almost every day perswade them to a greater care of their oathes and the good of their Country , too often suffer grosse and numberless offences to increase and multiply , and neither punish , molest or trouble them , or so much as give any information of them , and too many of the Clerks of the peace , Clerks of the Market , and others , not duly recording or certifying their Estreates . The customes which in all civilized Nations , and even amongst the Heathen are de jure Gentium , to be paid to Kings and Princes , and by the Laws of England and Parliament assent , are due to the King who is the Soveraign of the Sea , keeps the keyes of his Ports , gives safe conduct to forrein Merchants to come hither , and by his power , friendship and treaties with his Allies , neighbour , and other Princes , obtains the like with many priviledges for his own Merchants to goe and trade thither , prevents , with no small charges by his Ambassadours , kept in their Dominions all injuries , procures them right and justice , and in case of deniall forceth it , are now so daily cosened , and put up into other Pockets , as notwithstanding all the care taken in the farming or collecting of them , though the people upon the retaile are sure to pay them to the full , the King as it is believed doth not receive above a third part thereof , by reason of the treachery and connivance of the former Searchers or Waiters , and the Merchants defraying ( as they can sometimes confess ) the pompous charge of their City and Country Houses , Wives and Coaches , with their purloined Customes ; and that the cosenning of the King in his Excise yeilds them many times more then their Merchandise , and their Apprentices now not taken under three or four hundred pounds a peice , can live more like Gentlemen then Servants and purchase all kind of vanities , vice and pride with what they likewise filch and take from him and when the Customes are let to farm though the Farmers take them as they are capable of such kind of losses , can abuse their consciences , and perswade themselves that they do no wrong to the King , who is to have onely his Farm or Rent : And that howsoever the more they cozen him , the better they may be enabled to trade , and the more they trade the more may be his Customes . The not improving of their Lands & other Revenues by raising of their Rents and rates according to the rise of money and provisions which the Subjects have exceedingly , and to their great advantage done in their own Estates and Revenues , and ten to one more then what was formerly . The heretofore demising and letting to farm very many of the Kings Manors and Lands at the old ; and small Rents for three lives , 21. 31. or 40. years in Reversion , bespeaking a continuall wasting and weakening of his Revenues before hand . Discoveries of information of deceipts or wrong done to his Revenues seldome made , and then not without an allowance or gratification ; craved of three parts in four or a great share to begiven to the discoverers or prosecutors . Many mens pretending service to the King , but doing all they can to enrich themselves , and deceive and lessen him , and having by indulgence or cunning escapes from punishment , made vice look like virtue ; and their wickedness to be successfull ; or been brought off when not often catched by a gentle composition or some money or recompence given to a friend at Court or Conniver , are so habituated and used to cosen the King ; as notwithstanding the severity of our Lawes if they were let loose , and not too many of them laid , as they are , to sleep , they doe as frequently continue their practise in it , as they dress themselves and put on their cloathes , and can as little forbear or live without them , insomuch as some having been known to have been men of an otherwise strict morality , life and conversation , and dealing very punctually and honestly with all men but the King , can no more resist an opportunity or temptation of cozening of him , then a Child at a Basket of Cherries can forbear eating of them , or a Cutpurse not to be nimble in a crowd . Disuse of the duties of Sheriffs and Escheators , which by their then few conduit Pipes , did better look after the collecting the Kings Revenues , and with less trouble and charge to the King and people , bring it into his Cisterns , then those , who being under no oath or controll , are , as it is to be feared , by a too often respiting of the Kings debts , or laying them to sleep for some years , untill they be grown antient , many times the occasion of their being drowned in a Generall Pardon , begged by Courtiers , or made to be a new discovery , desperate or insolvent ; and by undertaking , more then they should doe , have to the greater charge of the King and his people disheartned and caused the more antient , more diligent , and powerfull Officers of the Exchequer for a great part of what belongs unto their Offices to be ineffectuall . Discontinuance of the Lawes and Customes for the collecting of the Regall Revenues , and the many excellent cares and orders of the Exchequer , as good as any Prince in the world can have or devise for the speedy and orderly getting in , issuing out , and accounting for the Revenue . A succession and improvement of knavery in some whom our former Kings trusted , occasioned or encouraged , by our warres abroad in France , after 4 Edward the first , for then there was an endevour of an Extenta Maneriorum , and an enquiry after many of the Rights and Regalities ( which are not retorned or certified in Chancery , nor any where else to be found , but by time and the troubles thereof are lost or carried away : And after the Statute of Quo warranto in 12 Ed. 1. for then also the great care and good husbandry of our Kings in preserving or improving their Revenues was not laid aside , or by the troubles of King Edward the second , and the irregularities of his Favourites ; for much about that time there began to be a quitting of the former cares of the Revenue , or by our successfull warres abroad in France by Edward the third and Henry the fifth , the unhappy Quarrels of the York and Lancastrian Families for almost sixty years together , and the hatching or breeding of them in the unquiet and unfortunate reign of Richard the second , or the short reign of Hen. 7. who had not time enough to reduce things into their former Channel , but was busie in gathering the treasure which he left to his Son Henry the eighth or being newly settled in his Throne , did not think it safe or seasonable to make alterations or put them into their former or better order ; or the great increase of Revenue as well as treasure in Money , Plate and Jewels to Henry the eight by the dissolution of the Abbies and religious Houses , or that the fragments not given away or disposed by him , employed the bounty and munificence of his Successors Edward the sixth and Queen Elizabeth during their severall reigns , and her many great cares and affairs of State otherwise busying her , or our Halcion dayes , peace and plenty in the reign of King James , and a great part of the reign of King Charles the Martyr , and the hearkening to pretences , and erecting more Offices to hinder the cheating and knavery of others , when as the proposers either by intending it at first , or easily learning to imitate or exceed them , did afterwards draw from the King and People more money then what their undertakings ever amounted unto , and proved to be as little for the Kings good as Sir Simon Harvey's design of Reformation in the Reign of King James , for the better ordering of the Expences of his House , where after many dishonorable essayes and retrenchments , casting many of the Kings Servants into ruine and discontents , and serving some of the Tables with half a Goose instead of a whole one , he could at last , when he had gained a pension of five hundred pounds per annum for his own life and his wives , put up all his Engines , and conclude with making every thing worse then it was before . And no better a husbandry then those that will feed and give wages to half a dozen Shepheards to keep a score of sheep , and allow them the keeping of some of their own into the bargain , and make no better a totall at the years end , then the Gardner which gives entertainment to a multitude of Catterpillers in his Garden , and thinks it is preserved by them , the waters being ever likely to come short , or but faintly when instead of fewer or greater Pipes , which brought it better , there , shall be so many to divert or wast it in the way or passage to the Royall uses . The necessity of Intelligence , Leagues and Correspondency with neighbour and forraign Princes and States , and the charges incident thereunto ( which cannot be thought to be small , when as that with the house of Burgundy within the space of sixty years , betwixt the reign of King Henry the sixth , and the later end of the reign of Henry the eighth amounted to no less then six millions ) the more then formerly greater charges of sending and entertainment of Ambassadours , Princely Gifts and Presents to such as come hither , and the Generall Pardons at the end of severall Parliaments granted by our Kings and Princes , and to the great advantage of the People of late petitioned for as a kind of custome and renumeration for some Ayds or Subsidies , which came not up most commonly to a moiety of what was in every Parliament quitted and released to them . The granting away in all ages many of the Royall Rights and Prerogatives to the people . And in a long course and series of time , like some aged parents in love to some of their children , or by the importunites , or designes , of others , giving away too much of their own Revenues and Estate , and bereaving themselves of that which is now thought too little for those who have gained it from them . Restorations ( and many times by petitions of one or both Houses of Parliament ) of the Lands and Estates which came to the Crown by Attainders and Forfeitures for Treason ( their confiscations never amounting to the damage done by such attempts and Rebellions , and the charge of suppressing them , and defending themselves and their people ) to reconcile the Heirs , Posteritie and Allies of such as had been attainted and induce them to a better obedience and love of their Country . The no small charges susteined heretofore , by granting yearly Pensions or Annuities to severall of the Nobility to serve extraordinary , besides the ordinary duty of their Tenures , with certain numbers of gens d' armes , and Bowmen in times of warre , or upon necessity , the building and endowing of many Colleges and Halls in the Universities , Eaton and Winchester Schools , and endowing with great yearly Revenues the Famous Hospitalls of Bridewell and Christ-Church in London , and St. Thomas in Southwark , building and endowing a great part of the Cathedrals in England , the Castle and Chappel of Windsor , and Palaces of Sheene , Woodstock , Richmond ; repair of the Tower of London , Castle of Dover , &c. Charges for the honour of the King and Kingdome in making and installment of Knights of the Garter , and the costly ceremonies thereof , and not seldome sending Ambassadours with it to forraign Princes , expences in making of Knights of the Bath ; and in the reign of our more antient Kings for Furres and rich Vestments , in making Knights Bachelors . Charge of the Courts of Justice and Circuits , to preserve the peoples Rights , Properties and Liberties , protect them from injuries , and punish the transgressors , now taking away yearly from the regal Revenue fifteen or sixteen thousand pounds per ann . ( which in honester and cheaper times , was in the Reign of Henry the sixth as much as worshipfully defrayed , as the Record saith , the expences of his then no small retinue and houshold ) with the greater charges now more then formerly in all other the necessaries and affairs belonging to the Kingly Office. A daily and almost hourly distribution and giving of Royall favours and munificence , and necessity of much of it , when as that which amongst private men is accounted providence , thrift and good husbandry would be an unbecoming sparing in Princes , and an avarice and temptation to oppress the people , and that which in others would be prodigality , or a wast and consumptions of their Estates , and reckoned as a folly is in Kings and Princes , most necessary in their bounties and favours wherewith to satisfie and keep in quiet as well as they can multitudes of people , whose numberless passions , iniquities , ill humors , designs , necessities and interests are by the Sword of Justice in one hand : and the Royal Scepter of grace and Benevolence in the other , to be kept in order by love , honor , obedience and loyalty , the best increasers , maintainers and preservers of publick peace and tranquility , which those who have suffered in the want of it but some daies , or moneths , or a year , or few years , or our last twenty years folly and miseries , may know how to esteem and value . A dayly or very often craving and petitioning of some or many of his Subjects , and the largeness of a royal heart and hand like an over indulgent Parent , taking a pleasure and content to divest himself to enrich and give them content . The vast difference betwixt the charges of Navies and Armies now more then formerly , when a Hobler or Dragoon Horseman which was wont to be heretofore hired at three pence per diem , now hath no less then two shillings six pence , a Footman eight pence , the pay of a Troop of horse cannot be under four thousand pounds per annum , and of one hundred and eighty men in a Garrison three thousand six hundred pounds per annum . The course of warre i● the later ages growing more and more tedious and chargeable , and so immense , as the Dutch notwithstanding their sout gelt , or Tax upon salt , their vectigal frumenti for corn grinded at their Mills , the eighth part of the price of Pears and Apples , a seventh of all Cattel sold to the Butchers , an eighth for wood , a Tax upon Candles , and an Ezcise upon all things eaten , drunk or worn ; upon Law Suits , Servants Wages , Ships , Coaches and Carts ; a sixth penny upon all lease Lands , Assessments upon demeasne Lands , Gardens and planted Grounds ; an eighth upon Houses demised or let , hooft , gelt , being a Dutch Floren for every poll or head scoors●engelt , a like payment for Chimney money , with many other great Taxes ; besides their many profitable and succesfull depredations in the East and West Indies , &c. great aides from France and England of men and money for many years during their warres ; great riches got by the greatest commerce of Christendom , and ransacking Sea and Land for it , have been in sixty years warres with Spain left very much in debt at the end of the warres . And are yet notwithstanding since the warres ended some millions of money in debt , and so much as they were for many years after , and are yet enforced to continue their Excise , and most of their Assessments and Taxes upon the people , When the King of Spain notwithstanding his vast Dominions , twenty millions of Duckets , which is above six millions of our sterling money , yearly Revenues ; great exactions and impoverishing of his people by yearly Taxes and Assessments ; the golden Mines of Peru , Mexico and Potozi , and other inestimable treasures of the West Indies , which P●●hero a Spanish Ambassadour in a brag or vie with the treasurie of Venice , could say , had no bottom ; and having the Sun for its Lord Treasurer , daily to generate and increase its gold ; hath yearly for many years yeilded the Crown of Spain by and out of the Fifths , sometimes ten , and sometimes fifteen millions of gold , and so much as in the year 1638. two hundred and sixty millions of gold did by the Records of the Custome-house of Sivill appear to have been in seventy four years then last past brought from the West Indies into Spain , and from Potozi in nine years inclusivè from 1574. to 1585. one hundred and eleven millions of silver , hath notwithstanding with his wars with the Dutch , and a warr of late years with France , chargeable bribes and intelligences , and a thirst after an universal Monarchy , consumed that , and all that he could borrow besides from the Bankers of Genoa . And France with all her Taxes and Gabells , beggering and very much enslaving of her common people , hath in a warre of thirty years last past with the Spaniards , fought it self almost off its legs , and into a consumption . Which a long and late experience may forbid our wondring at , when as the late long pretending but no performing Parliament could with the spoils of the Kings and Churches Revenues , the Estates of the Nobility , Gentry , and good people in England , Scotland , and Ireland , and more Taxes and burdens imposed by them and Oliver , their man of sin in twenty years , then our Kings of England in five hundred years last past , all put together , had before laid upon them , could not leave their Oliver when their sins , and his tricks , had made him to be their Master , any more then three hundred thousand pounds sterling in Cash and ready money : and that with that and such of the Royall Revenues as they left him , and those vast Spoils , Rapines , Taxes , Assessments , and pillage of all that were not as bad as himself and his Predecessor Common-wealth Contrivers in the three Kingdomes of England , Ireland and Scotland , which amounted unto above forty millions , he was not able in a few years wars with the Dutch and Spaniards to bring about his expences , & support the Protection , as he called it , of the people with it , but died above three millions in debt , which the debts of our famous King Edward the third , and Henry the fifth , who conquered France , and the most of our indebted Kings never amounted unto . When our English Kings and Princes having never received of the people by their Aides and Subsidies the twentieth penny towards their expences in the preservation , of them and the honor , peace , & plenty of the Kingdom , could never do as the Field Marshals , Stadt Holders or Generals in Commonwealths have done , or as the late Princes of Orange , did for severall successions in Holland and the united Provinces receive great allowances and Sallaries , keep and greatly improve and increase their own Revenues , and make the Publick bear and defray its vast charges , as well in warres , as the cares and defence of peace in the absence of it , but did bear and sustein the brunt of all that was not extraordinary , and the charge of many a warre abroad , and suppressing of insurrections and rebellions at home , out of their own Estates and Revenues , and made many a hard shift even to the pawning of their Jewels , and mortgaging of their Lands without an often calling to the People for Subsidies or other Aids or Assistance to preserve them and their Estates and Posterities . Nor took to themselves the liberty which many Subjects doe to put into their Accounts and Bills of charges to their Princes their Damnum emergens , damage happening by any service done for him or their Country , and many times their Lucrum cessans , gain or improvement lost , though every mans particular in the defence of their King and Country , is involved in the generall , & that the service was not altogether or immediately done or tendred to him , or for the preservation of him or his Estate only and Posterity , but as much if not more for their own concernments , and think themselves to be ill dealt with if they be not speedily and abundantly rewarded . To help on which consumption of the Royal Revenues , came also the great charges which King Charles the first ( upon whom the decay of the Royal Revenues occasioned by the necessities and indulgences of his Predecessors , at once falling might have made him crie out with King Henry the third , as the Monk of St. Albans relates it , seducor undique mutilatus sum Rex et abbreviatus ) was at in leagues and confederacies with forreign Princes , maintaining Armies in the Palatinate and Germany , aiding the Kings of Bohemia , Denmark and Sweden , engaging in a warre against Spain , and sending a great Fleet and Army to invade him ; great expences in sending a Navy and Army to the Isle of Rhe , and two others to aid the Rochellers , to furnish part of which ( for it amounted to a great deal more ) he sold at once at too easie rates to the City of London above twelve thousand pounds Land per annum rent of Assize , the payment of fifty thousand pounds per annum Pensions aud Annuities out of the Exchequer , ( as it was industriously computed by that factious party of Common woe contrivers ) to diverse of the Scottish Nation , many of whom did afterwards joyn with his enemies to ruine him ; the great and necessary yearly Pensions and Annuities paid to the King and Queen of Bohemia and their children ; charges of going with a great Army to the Borders of Scotland against the Covenanting Scots , and maintaining another in England , with the payment of 120000l . principall money borrowed by his Father of divers Citizens of London with interest at 8. per cent . Which with the many great cares , troubles , wants and necessities which compassed him in on every side , whilst his great virtues for want of necessary supplies of money and treasure were not able to support or bear him up against the storms of an hideous Rebellion , escape the snares and pursuit of a rebellious party , or scour and cleanse that Augaean Stable which had ruined and weakned his Revenues , made him a glorious Martyr for the Laws and Liberties of England , and those that were the causers of it , the great Examples of a Divine Justice overtaking them . And enforced him to leave his troubles to descend upon his Son our most gratious Soveraign Charls the Second ; with a small and despoyled Revenue , which by its fluidness , and the gnawing and deflux of time was as to his Crown Lands brought almost to an Exinanition , and his casuall and other receipts , bearing no more proportion to his expences and disbursements then a Dwarfe or Pigmey doth to a Giant or Poliphemus , could doe no less then bring the remainder , of that little which was left into a Tabes and almost incurable consumption , when there is so great a difference betwixt the rates of provisions and livelyhood , and all manner of things bought or used in the beginning of the Reign of Queen Elizabeth , and what is now paid for them , when he is at greater expences then any of his Progenitors , and a less receiver , receives at the old rate , and buyes at the new , his demeasn Lands ( besides his Pastures at Cresl●w in Buckinghamshire , which were hertofore imployed for the keeping of some Oxen for his household provisions , and his parks , and some adjacent Grounds to his Houses of residence ) and all his Land and certain Revenues are not above reprizes one hundred thousand pounds per annum , and two parts of three of that consisting in Fee Farm Rents , which admit of no improvement , when his Customes which should now amount to as much , or more then what they were in his late Majesties Reign , by the addition of an Excise amounting to one hundred and forty thousand pounds per an . now yeilds not near so much as it did formerly ; the Excise of Ale and Beer , ill collected , o● so chargeable in the gathering of it , as it yeilds little more then the half of what the Parliament estimated and intended it to be ▪ great yearly Revenues & Inheritances in Lands given to men of high deservings , both of him and the Kingdom , all the Confiscations of the late Traitors of a great yearly value , with the benefit of the Post-Office , Wine Lycences , and many discoveries of personall Estates due to the King given to his Brother the Duke of York to make him a Princely Revenue . When his ordinary expences doe so much exceed his ordinary receipts , and his extraordinaries are six or seven to one of his ordinaries , is sixteen hundred thousand pounds in debt , spends more then as much again in his houshold expences , as formerly now that his Pourveyance is taken away , looseth two hundred and fifty thousand pounds per annum by the loss of his Tenures and Pourveyance , is at eighty thousand pounds per annum charge for the maintenance of the Garrison of Dunkirk , above five hundred thousand pounds per annum for the Navy and Land forces , hath to procure a publick quiet , paid many hundred thousand pounds of the Arrears of the Navy and Army employed against himself , and left in Arrears by his Enemies must be ten times a giver , if he should grant every ones Petition , to one that he shall be a gainer or receiver , discontents himself to content others , and forgetting that old rule and practice of the world , sibi proximus is enforced to provide for others and not for himself , and in the midst of his own necessities is to be the rewarder of virtue , and still , as well as he can , the raging waves of the multitude , is the Asylum or refuge of all that are distressed , and bears or lessens their burdens out of his own Revenues . And when Neighbour Princes are not usually without ambitions , and taking all opportunities to enlarge their power and Dominions by the weaknesse of others , or to weaken and oppress any of their Neighbours , and make advantages of their troubles and necessities , doe seldome want pretences of titles or revenging Injuries done to them or their people by Kings or their people , and can lay aside their sworn Leagues and Confederacies , as soon as their Interest or Designs shall invite them thereunto , when the French King hath by computation an ordinary yearly Revenue of above twenty millions of Crowns which makes above five millions sterling per annum , besides his extraordinaries , which by Taxes and Tallages in the late warres , being now by a habit and custome grown something easie and familiar to them , may be raised to vast yearly sums of money , and more then treble the ordinary , when the King of Spain aboundeth in his Revenues in his Dominions in Christendom , besides his extraordinary Aids & Assesments , and vast treasures and supplies from the West Indies , which is a ready or rich pawn or credit for borrowing of monies upon all extraordinary emergencies , occasions , or necessities of State affairs . The City of Venice with her Territories hath above a million sterling per annum in her yearly Income , besides extraordinaries , and a treasure of money enough to pay six Kings ransomes , with Jewels and Plate unvaluable . And the Dutch have one million and two hundred thousand pounds sterling per annum yearly , & ordinary Revenue out of Amsterdam , besides what they have yearly out of all other Cities , Towns and Places , by their huge Excises and Assessments upon all the seven United Provinces . And the King of England , who was wont to be Arbiter totius Europae , hold and keep the Ballance of Christendom even ; and if he do not , it cannot be either safe or well for his own Kingdomes and People , and their Trade and Commerce , must pine and wither away , languish and groan under so great expences and necessities , whilest he is to preserve himself and people in peace , plenty and safety , and hath so little to doe it withall , when at home all men do seem to love and serve him , very many doe ask and get what they can from him , and too many deceive him . And as that prudent and great Statesman , Cecil Earl of Salisbury Lord Treasurer of England , observed to the Parliament in the Reign of King James , it is a certain rule , that all Princes are poor and unsafe who are not rich and so potent as to defend themselves upon any sodain offence and invasion , or help their Allies and Neighbours . Hath a small Revenue to govern an unruly People , one part of them ready to runne mad with mistaken opinions in Religion , and too many of the residue overgrown with vice and luxury ; a burden of burdens laid upon him , the burdens of his people , and the burdens of his Ancestors by their bounties , expence and necessities , and are by so much greater or heavier then theirs , as his Revenues are consideratis considerandis a great deal lesser . CHAP. I. The Remedies . WHich a small or ordinary repair will not help , but requires new and more sollid and lasting foundations , endeavoured seriously , and attempted by King James about the seventh year of his Reign by the advice of his Parliament and Privy Council , but not then or any time since brought to perfection . And may in a legall and well pleasing way to the people without the unwelcome raising of the Tenths of the Abbie and religions Lands to the present yearly value , which may be of dangerous consequence , and the Tenths and First-fruits of the Bishops and Clergy of England , who have been over much pared already , or a Resumption of the Crown Lands which unless it be of such wherein the King or his Father have been grossely deceived : and the first money paid for the purchase upon an account of the mesne profits , and interest satisfied , will hugely disturb the Interest and House-gods of too many of the Nobility , Gentry and rich men of the Kingdome , and without any new or forreign devices or Talliages , to raise monies , and Fricasser , or tear in pieces the already too much impaired estates of a Tax-bearing tired people , which that Monarch of virtues and blessed Martyr King Charles the first did so abhorre , as he caused Mr. Selden & Mr. Oliver St. John to be imprisoned in the Tower of London , & a bill to be exhibted in Star-chamber against them and the Earl of Clare , and others , for having only in their custody , and divulging a Manuscript , or writing of certain Italian projects proposed to him by Sir Robert Dudley a Titulado Duke in Tuscanie , and with out the gawling , grating , and most commonly unsuccesfull way of Projects , which if set up will be thrown down again by the after Complaints and discontents of the people , or hunting and vexing them with informations or calling their Lands and Estates in question to the ruine of them and their Families upon defective Titles , or by Monopolies or a trebling abuses by pretending to reform them ; or Essayes of new wayes of profit framed or found out by such as designe more to themselves then for the good either of King or People , and either know not , or cannot , or will not , foresee the many evills and sad consequences which may as effects from causes , fatally and unavoidably follow such or the like attempts , which the necessities of Kings , or want of competent revenues , may either put them or their servants and followers upon . Be , as is humbly conceived , prevented by severall Acts of Parliament to be made upon the propositions , following which will not only encrease the Kings Revenues , but encourage and make the People very willing and well contented therewith , when as what they shall for the present loose thereby , shall at the same time by enacting of some good Laws for them be abundantly repenced . By a generall inclosure of all wast Lands & Commons belonging to the Kings , Queens and Princes revenues in England and Wales , allotting equall and reasonable proportions for satisfaction of Commoners , and by disafforrestation of some Forrests and Chases remote from London , or the Kings ordinary Residences , the imbanking and taking in of all Lands , infra fluxum & refluxum Maris high and low watermarks derelicted and forsaken by the Sea , or brought thither by Alluvion , and added to the firme Land , and together with the Lands and Revenues now belonging to the Crown of England never to be aliend , rent-charged , or leased more then for 21 years or three lives , which besides the addition of revenues and profit to the King , will very much adde to the livelyhood and industry of many of the people who will be maintained thereby , better the Lands , and increase subsidies when there shall be occasion . And causing the like to be done by a generall inclosure of all that now lies wast , and in common , in particular , and private mens Revenues in England , and Wales , amounting to some millions of Acres , will produce the like benefits to the owners and Commoners , who in a gratefull acknowledgement thereof may out of their severall allotments , as freewill-offerings to their King , pay yearly three pence per Acre to him and his Heirs and Successors . That Banks or Mount Piete's be erected in several places of England and Wales , as at London , York , Durham , Golchester , Norwich Ludlow , & Denbigh , where mony may be lent , and Pawns or Securities taken , not exceeding the Interest of twelve per cent . for a year , or proportionably for greater or lesser times , and that Commissioners in the manner of a Corporation or otherwise , may in every of those places be from time to time appointed by his Majesty his Heires and Successors , to order and supervise the management thereof , for which his Majesty his Heires and Successors , may out of the increase and profit of the said Interest , receive and take forty shillings per cent , no one particular person being permitted to imploy or put into the said Bank at interest above the sum of five hundred pounds ; and that no private or particular person , putting their monies into the said Bank , shall have and receive above the sum of the current or usual Interest in the Kingdom , or any other gift or reward whatsoever , whereby the intollerable oppression of publick and private Brokers those Baptizati Judaei and Pawn-takers , which like Wolves gnaw and devour the poor as sheep , when as driven to them by their necessities , they are inforced to come to them for succour , and give after the rate of fifty or sixty per cent , which the hate of Jews to Christians never arrived to , and a Christian and Protestant Kingdome ought not to countenance . That by sumptuary Lawes concerning Apparrel to be worn by all degrees and orders of people , the excess thereof may be regulated and abated , with great penalties to the infringers thereof , which Athens , Sparta and Rome being heathen Common-wealths , and England heretofore by sundry good Laws and Statutes , unhappily repealed in anno 21 Jac. Spain by Pragmatico's ; and France by a late Reiglement have found to be an universall good : and the Common-wealth of Venice held it to be necessary , Nè civium patrimonia nimia intemperantia abliguriantur ; to keep their Citizens from wasting and spending their Estates , being Laws now more then ever wanting in England , when as that which wil quickly undo private or particular Families , which by their universality do make a Kingdome , is so frequent and every where almost to be found in a daily practise and pursuit of pride , and that cheating one another to maintain it , is the most of the peoples cares and consciences , every house almost as to the excess of their vanities , and expences beyond their Estates , hath a Mark Anthony and Cleopatra in it ; and too many men and women , though not so good or well able to bear it as King William Rufus , doe think their clothes not costly enough ; many of the Nobility and Gentry have wasted and spent themselves almost quite out of themselves , and left themselves little more then their Titles and Pedigrees . The Citizens doe all they can to our-doe them infolly ; the Farmers , Yeomanry and Countrymen all they can to overtake them , and the Servants to come as near as they can to their Masters , Ladies or Mistresses : And they that first spend themselves to nothing , or very near it , are like to quit the race to those that come after ; and they which come last to the brink of ruining their fortunes , which will be probably the common and lower ranks of the people , are likely to learn by those that ruined themselves before them , to stay where they left , & be Masters of the others Estates . And that such as shall wear any habits or kinds of Apparrel forbidden ; be rated in all publick Assessments according to the estate and quality of such persons as are allowed to wear the like , that whosoever shall not be of the degree and quality to keep a Coach , or live in the Country not farre distant from the Parish Church and keepeth one , shall forfeit and pay 5. l. for every year in which he shall so keep it ; that the Justices of Peace in every Country be the Collectors of all the penalties concerning Apparel , Habits and keeping of Coaches , and to have a ●ourth part of the forfeitures upon the receipt , conviction or recovery thereof : that the Masters and Mistresses of Servants trangressing that Act , shall out of the wages due to such Servants pay and answer every of the penalties forfeited by the Servants , not exceeding their said wages , and stop and detain the same , and for their care therein have and receive to their own use one third part in four to be divided of the said penalties ; and that the residue of all the said penalties ordained and forfeited by the said Act , shall be collected and answered to the use of the King and his Heirs and Successors . Whereby that grand improvement of all Sins and Wickedness , which hath now overspread the Kingdome , that consumption of Estates , and destruction of good Manners ; And that high unparralleld and inordinate excess of Apparel and pride , which being the canker of all honesty and virtue , ruined Rome the Conqueror and Mistress of all the World , and , as Histories have told us , never failed to undo many other Kingdoms permitting or allowing it , which our Ancestors and former inhabitants of England would have abhorred and blushed at , may be restrained , and those sinfull necessities and plenty of all manner of knaveries , dishonesties , Cheatings , and villanies , to maintayne it , depressed and extinguished , which the book of God , danger of Sinne , Hell , and Damnation , and all that can be said and done by the Bishopps , Ministers , Preachers , and men of holy Church , without the assistance of such sumptuary Lawes , can never , as experience hath sufficiently told us , be able to beat downe , extirpate , or lessen . Which the pretended loss of the Kings Customes by Silkes , and other vanities imported , should not deterre him and his great Councel from attempting , when the prevention of the great wast of gold and silver in making lace and habiliments for such as ought not to wear them , the vent of our Cloth and other English Manufactures in stead of them , suppressing of an universall pride and Sinne , which the land groaning under , is not able to bear , the causing of a greater duty and obedience to superiors , which is now too much wanting , and the pacifying of Gods wrath and Judgments which are ready to fall upon the Nation , for it will abundantly recompence . That seeing the Excise of Beer , Ale , Perry and Sider greatly discontents and lies heavy upon the People and the management and way of gathering it , adds to their affliction , and makes them repine at the Nobility and Gentry upon a supposition , that to ease themselves of that which was surmised to be a burden by Tenures in Capite and by Knight service , with the wardships and incidents thereof , they have contrived and raised the burden of more then one hundred thousand pounds per annum Excise to be laid upon them , whereas the losses and damages of the Nobility and Gentry of England , ( besides what they may sometimes save in their own wardships , and by reason of Lands holden of the King in Capite and by Knight Service ) in the profit and honor of Tenures holden of them by Knight service , and of Wardships and other Incidents , and their just and legal superiorities and commands over their Tenants , which will now be wanting : will if rightly estimated , amount to as much yearly dammage and inconveniencies as that one hundred thousand pounds per annum , or more , will come to by that Excise , in which their expences may tell them they bear a share likewise with the common people , some of the Knights and Gentry loosing as much by the taking away of Tenures in Capite and by Knight service , as two hundred pounds per annum communibus annis , and some of the Nobility four or five hundred pounds per annum , and the least of what every of the Nobility and Gentry doe yearly loose thereby , will be more then any particular Brewer or Aleseller can be damnified , when as the Beer and Ale , and next buyer or expender , are sure enough to pay for that and many times more . That for the remedying of the great Deceipts , and Sophistications used by Brewers of Ale and Beer , as their false gaugings and measures , not half or not enough boyling it , to spare fewel and fire , putting in Broom , Coriander-seed , Wormwood , and many other newly devised and noxious ingredients instead of Hops , or to make it taste the stronger , which may much endanger the lives and health of the people . And the abuses of Merchants , Wine-Coopers and Vintners in conjuring their Wines as they call it , mingling it with Stum , Molosse or scum of Sugar , Perry , Sider , Lime , Milk , Whites of Eggs , Elder-berries , putting in raw flesh , and using so many Adulterations and mixtures , as the Taverns and places of retail doe too commonly , vent intoxicating and unwholsome drink by the name of wine , whereby the Wine-coopers , whose Trade was originally and properly only to make and amend vessels for wines , are now by a knowledge and taste of wines , pertaking of the Merchants evil secrets and doings , and bringing some ease and conveniences to them by uttering and taking off their hands great quantities of wines upon long dayes and many moneths of payment given them , become as it were the Merchants Masters , and the only Merchants and Sellers of wine to the Vintners and Retailers ( which was formerly forbidden them ) after they have adulterated , unwholsomed , and almost poysoned them , to the distemper and breeding of sickness in the bodies of men , who for a little wine to warm and chear their hearts or stomachs , or entertain one another with mutuall refreshments , are by such ungodly tricks and devices to purchase to the Merchants , Wine-Coopers and Vintners filthy and wicked gain and lucre , many times enticed into the confines of death and their own destruction . And the many deceipts and abuses of Bakers , whose weights of bread and honest gains of their Trade is by the Statutes of Assisa , Panis & Cervisiae , in Anno 51 of King Henry the third , to be yearly regulated by the Kings Baker of his Houshold , and the bread of his Court , according to the several yearly rates and prices of corn , and their transgressions contrary thereunto by many other Lawes to be severely punished , and the offendors put upon the Pillory . Which this last Century or Age by a Non-execution of Lawes have not been so happy to see . But the Bakers are now so disused to these antient good Laws and Regulations , and so used to a custome and cunning of blinding the Magistrates , or such Officers as they entrust therewith or by evading , or diminishing their punishments , as they can by a custome or necessity of sinning , which their deluded consciences do perswade them to be lawfull and warrantable enough , make their bread 5 or 6 ounces too light , or short of the legal proportions nor assize , when corn is very dear , and a great deal to light when it is cheaper : And to add to their wickedness as if otherwise it would not be enough , are suspected to mingle chalk and lime amongst their meal , which makes the white bread , and do by combination with the Vintners , Inn-keepers and Chandlers ( who are the Belly-Brokers to the poor ) make their white bread so little as to afford them 16. or 18. to the dozen : and if the Mayor and Sheriffs of London , or the Magistrates of other Cities or great Towns doe sometimes goe about to trie and weigh their bread , and find any Basket or small parcel of bread to be faulty ( which by the Serjeants and under Officers too often giving notice over night or before hand what day or way the scrutiny goes makes their care and diligence to be most commonly ineffectuall , or to little purpose , or may be easily prevented by some bread honestly made when all the rest doe want waight laid in their passage ) and seised and sent to prisons , the next dayes or weeks bread shall be sure to be made the lighter , to recompence the loss of the former . And lesser Corporations being most commonly governed by retailing Tradesmen , and such as have a fellow feeling of one anothers mysteries , or that which they suppose to be their Callings , but are usually attended with fraud and cheatings , doe take no care at all to obstruct , discover , or punish one anothers knaveries ; by which the poor and their wives and children , whose daily hard labours can scarcely bring them to other diet then brown bread , and skummed cheese , and a cup of good beer when they can get it , are daily and very much oppressed , and their poverties made to encrease the riches of those who are so farre from relieving their miseries & hardships , as they are a great part of the cause and increase of it ; by which great and not to be endured villanies and knaveries , not seldome , but daily and very often practised in a Kingdom , professing Christ and Christianity , by Vintners , Brewers , and Bakers , in Wine , Beer and Bread , the main supports of life and nourishment , ( which might have been suppressed if the Stewards of Courts Leet , Sheriffs in their Turnes , and the grand Jury men of every County twice a year impannelled and solemnly charged by the Judges to look better to these & other generall abuses , not by a strange custom neglected & slept over their had oathes and duties ) those grand principles and fundamentall necessaries for food and sustenance are corrupted , abused , and unwholsomed , diseases and evils , and oftentimes death arising thereby secretly instilled and conveyed , and as it were forced into the bodies of the people , which may well call and crie for a Reformation . As well as the great abuse of Leather , which under colour of transporting Calve skins , and obtaining licence to send thither a certain number of hides or skins of Leather , doe ten times exceed the number ; and by multitudes of Coaches more then formerly , false Cocquets and connivance of Searchers and Officers in the Ports , which should look better to it , there is ( notwithstanding great quantities of Russia and other Leather , & Hides imported from forreign parts ) so great a scarcity and dearth of Leather , as that which the Shoemakers , not long agoe , were wont to pay but fifteen shillings , for they must now pay double as much , and that which they buy is ( by the knavery of the Tanner , who to save the charge of Bark , doth not permit it to lie in the Tannepit half the time appointed by the Law , and of the Currier and the carelesness and worse of the Lord Mayor of London's Officer who keeps the knife , as they call it , at Leaden Hall , and should seise all bad Leather ) neither well tanned , good , or cheap ; by which villanies , deceipts , careless looking to the execution of good Lawes , evils of transportation , and some of the Nobilities and Gentries profuse rates and prices given to their Shoemakers the shoes which they wear , are come to the price of five shillings and six pence , and six shillings a pair ; and sober and more carefull men in the laying out of their money must now doe what they can , pay four shillings six pence or five shillings for a pair of Neats Leather shoes , for which within this twenty years was paid but two shillings eight pence ; and when they have come up to those strange prices , have their inner soles many times made with chill and soaking Seal skins or Horse hides ▪ and all the upper Leather and under of their Shoes so ill tanned , as it being scarcely separated or to be known from a raw hide , it lets in water like brown paper or bayes , and with a showre of rain , or a little wet shrivels and runs into wrinckles and an unhansomeness , and scarcely keeps out a little rain or dirt which breeds Rheums , Colds and Diseases in the people who being Islanders , and living in a Country of so much rain and wet , which by some other Nations living in drier Countries , called the Matella Planetarum , Piss-pot of the Planets , cannot walk or live so healthfully as they doe in warmer Countries , with wooden Shoes or Sandalls , which may be remedied as to the peoples better usage in their Bread , Beer , Wine and Shoes , the grand necessaries of life . 1. By a better execution of the Laws already enacted , 2. By not altogether trusting Tradesmen with the care thereof in Corporations , who being either of the same Trades , or others furnished with as evil Artifices , are but bad Overseers or Suppressors of deceits in Trade , by which they all now more then ever enrich themselves . 3. If the Justices of Peace in every County by as Oath particularly to be framed for that purpose , which in a time of heeding no Oathes , or an age of equivocation or putting false constructions or interpretations upon them , may be more then formerly needfull , were enjoyned better to look to Lawes already made , or to be enacted for that end , and allowed upon the discovery or prosecution a fourth part of the forfeitures and penalties , which will help to put them in mind of their duty ; and to be like the Athenian Nomophylaces , more vigilant in the finding out , prosecution and conviction of any such transgressors . 4. That there be yearly appointed by the King , or the Lord Chancellor or the Lord Treasurer in his behalf , Assayers or Surveyors of the Bread , Beer , Wine and Leather made , or to be made or vented in every County and City , which as concerning Ale and Beer will be but the same with the Ale-conners and Tasters , which our antient Lawes and Customes thought necessary , and to have for his pains , discovery , prosecution , and conviction of offenders contrary to the Laws made or to be provided , one part in four of the penalties , and to attend therein also , and observe the directions of the Justices of Peace therein . 5. That the Wines according to the Statutes be , as formerly , rated at a reasonable price set as well for the Merchants as the Vintners or Retailers . 6. That no Wine-Cooper be upon a great penalty suffered to buy or sell wines , which can never be for the good of the people , when the Devil or the Conjurer having mingled and sophisticated what he bought pure from the Merchant , shall have power to make it as bad as he will , and put it to sale when he hath done . 7. That every Merchant and Vintner doe as the Victuallers and Cooks are by Statutes appointed for the keeping of Lent , yearly enter into Recognizances to the King not to corrupt or alter their wines , nor willingly or wittingly permit them to be adulterated or altered by the Wine-Coopers , but to sell them according to the lawfull measures , and observe and keep the rates and prices yearly to be set . 8. That every Brewer and Baker doe yearly enter into Recognizances to make wholsome Bread and Beer and keep the Assize . 9. That every Tanner and Currier doe the like as touching the well tanning and dressing of their Leather : And that the Officer which shall keep the knife at Leaden Hall in London do the like well and truly to execute the duty of his place . 10. That the Vintners who by a late invention and ill use of glass bottles doe evade the rates of wines limited by a late Act of Parliament , and recompence the abatement of price by the falseness of their measures , may be ordered to use as formerly ; Pint , Quart , Pottle and Gallon , Pots marked and allowed according to Law. 11. That for the first offence every of the said Tradesmen shall forfeit one hundred pounds , for the second two hundred pounds , and for the third be disfranchised and never more permitted to use that Trade . 12. And that a conviction of any such offences may be pleaded in barre unto them in any Action to be brought , commenced and prosecuted . To be delivered from which great and many deceipts and frauds , and every dayes often committed oppression , by a tyranny of the rich over the poor and needy , and to keep the Wolves from their morning and evening preys , and rejoycing in the spoil of the widdows and fatherless , the hungry and necessitous , which by a cheating and blinding of their consciences , they will whether the Laws of God and man will or no , suppose to be lawfull , because it is their Trade , and the misteries of it , or because their Fathers or their Masters did it before them ; every one else doth it , and every man must live and make use of their time , labour , calling or opportunities . The people of this Kingdom being so universally endamaged by the evils happening by them , and concerned , and like to be benefitted by the remedies , may ( as those of Spain , Florence , and other forreign Countries , who in bearing some burdens and Taxes laid upon them are many times rather gainers then losers by the benefit of a Bands , or rule of rating Butchers , and many other Commodities to be bought or sold , so as children cannot be cozened . Be very willing that their representatives in Parliament shall consent . That upon every Tun of wine , French , Spanish and Rhenish to be vented in England there be by the first buyer forty shillings per Tunne paid to his Majesty his Heirs and Successors , and accounted for half yearly in the Court of Exchequer . That instead of an Excise upon Ale , Beer , Perry and Sider , every one that shall in a publick Alehouse sell Ale , Beer , Perry or Sider , shall yearly pay to the King , his Heirs and Successors forty shillings per annum ; and every publick Brewer twenty pounds per annum , and a further rate proportionable to the quantities of their Brewings . And that to restore this antient Monarchy , and heretofore famous and flourishing Kingdome to its former honour , safety and defence , and an ease from the charge of mercenary Armies and Guards , and to prevent the great and many dangers and inconveniencies which may happen thereby , as also to fatherless Children by Guardianships and breaches of trust , his Majesty and his Heirs and Successors , may have and enjoy his and their antient rights of Tenures in Capite and by Knight Service , and all mesne Lords & their Heirs their Tenures by Knight Service , with all incidents thereunto belonging , allowing unto every one holding of the King by those Tenures the liberty of being freed from the marriage of his Heir , to be compounded for by yearly paying unto the King into the Exchequer , or into the Court of Wards , next after his age of one and twenty years and livery sued forth , the sum of twenty pounds per annum rent for every Knights Fee which he shall hold , or proportionably according to the partes thereof . 1. That in the granting of Wardships to the Mother or next friends , according to the Instructions of King James , with those reasonable cares and considerations of debts and younger children used by the Court of Wards and Liveries , the marriages of the Wards and Rents of their Lands during all the time of their minorities computed together , be never above one years improved value , which will be but the half of that which is now accompted to be a reasonable Fine , and is frequently paid by many Copihold Tenants whose Fines are certain . 2. That the Archbishop of Canterbury and Bishop of Durham , who by antient exemptions and priviledge are to have the wardships of Tenants , holding of them by Knight service in their minorities , though they hold other Lands in Capite and by Knight service of the King may be ordained to doe the like favours . 3. That all that hold in Capite and by Knight service be according to their antient liberties and rights granted by the Charter of King Henry the first , freed ( as in reason they ought ) from all Assessments of their demeasn Lands touching warre . 4. That Primer Seisins be taken away of such kind of Tenures , and no more paid . 5. That the Lands holden in Socage , or of any other mesne Lords in case of minority of any in ward to the King , by reason of Tenure in Capite , or pour cause de gard , being taken into consideration only as to the Fine , for the marriage may not be put under any Rent or Lease to be made by the Court of Wards , but freed , as they were frequently and antiently by Writs sent to the Escheators . 6. That the King in recompence thereof may have and receive of every Duke or Earl dying seized of any Lands or Hereditaments in Capite and by Knight service two hundred pounds , of every Marquess , Viscount and Baron two hundred marks , and of every one that holdeth by a Knights Fee twenty pounds for a Relief , or proportionably according to the quantity of the Fee which he holdeth . 7. That incroachments and wast grounds holden in Capite and by Knight Service , may be no cause of wardship , or paying any other duties incident to that Tenure , if it shall upon the first proof and notice be relinquished . 8. That only Escuage and Service of warre ( except in the aforesaid cases of the Archbishop of Canterbury and Bishop of Durham ) and all other incidents ( except Wardships ) due by their Tenants which hold of them by Knight service , be restored to mesne Lords , and that the Reliefs of five pounds for a whole Knights Fee , or proportionably according to the quantity of Lands of that kind of Fee holden , shall be after the death of every such Tenant twenty pounds . 9. That to lessen the charges of Escheators and Juries for every single Office or Inquisition to be found or taken , after the death of every tenant in Capite and by Knight Service , the time of petitioning within a moneth after the death of the Ancestor , may be enlarged to three moneths , and the Shire , Town , City , or principall place of every County be appointed with certain dayes or times for the finding of Offices , to the end that one and the same Meeting , and one and the same Jury , with one and the same charge , or by a contribution of all parties concerned , may give a dispatch thereunto . 10. That in case of neglecting to petition within three moneths after the death of the Tenant in Capite and by Knight Service , or otherwise concealing any Wardships , or not suing out of Livery , if upon information brought , issue joyned , and witnesses examined , or any time before Hearing or Tryall of the Cause , the party offending or concerned shall pay the Prosecutor his double costs , and satisfie the King the mesne rates , he shall be admitted to compound . 11. That the unnecessary Bonds formerly taken in the Court of Wards at two shillings six pence , or three shillings charge upon suing out of every Diem clausit extremum , or Writ to find an Office , obliging the Prosecutor thereunto , may be no more taken , when as the time limited for petitioning to compound for Wardships , and the danger of not doing of it will be engagement sufficient . 12. That Grants Leases and Decrees of the Court of Wards may not ( to the great charge of the Wards or others concerned therein ) be unnecessarily , as they have been , inrolled at length or otherwise , with the Auditors of that Court , when as the same was recorded before by other Officers of that Court to which the Auditors may have a free access , and at any time take extracts out of them . 13. That a severe Act of Parliament be made against such as shall misuse or wast any Wards Estate , Lands , Woods and Timber committed or granted to them , or any personal Estate which belongeth unto them or shall not give the Wards fit education , or shall disparage them in their Marriages , or marry them without any competent Portion , or shall not within a moneth after the death of such Ward , or coming to his or her age of one and twenty years make a true accompt and payment unto the said Ward or his or her Heirs or Executors , of all that shall be by them due and payable to him or them by reason of the said Wardship , upon pain to pay to the use of the said Ward , his or her Heirs , Executors or Administrators , besides the said moneys due and payable to the use of the said Ward double costs and damages expended or sustained therein . That all Lands hereafter escheated and forfeited to his Majesty ( in cases where there shall be no restoration to the next in discent or remainder ) be inseparable , and as a Sacrum patrimonium annexed to the Crown , never to be aliened , leased , or charged with any Rent-charge or Annuity further then for life or one and twenty years . That all Corporations of Trade , may besides Fines and Amerciaments to be imposed and taken to their own use , have also power to impose Fines and Amerciaments to the use of his Majesty and his Heirs and Successors , and have no power to release or discharge any Penalties , and Issues forfeited to the King : And that the Town Clerks of Cities and Towns Corporate , and Clerks of every Corporation or Company of Trade shall be bound by Oath and Recognizance to the King to certifie and estreat into the Exchequer all Fines , Issues and Amerciaments forfeited and lost , at two usuall Terms in every year , that is to say , Easter and Michaelmas . That the By-lawes of every Corporation and Company of Trade , and every City and Town Corporate which ought to be perused and approved by the Lord Chancellor of England and Lord , Chief Justices of either Benches , or Justices of Assize , or any three of them , and are not to be contrary to the Lawes , may be according to the Statute of 19 Hen. 7. cap. 7. perused and allowed by them . That upon every bloodshed or breach of the peace , as by the Civil Law in forreign parts , and heretofore was anciently used in England by the Common Law thereof , a reasonable mulct or penalty be imposed to be gathered by the Magistrates , as the Drossaerts do in many places in Holland , and be answered to the King , though the parties do agree or release and discharge one another . That all Misericordia's which are now the only Vestigia's , left of that antient Custome and Prerogative in Cases of Nonsuits , and Pleas of Non est factums not verified , may be put into certain reasonable penal sums , duly collected and answered to the King , his Heirs and Successors , which besides an annual and casual profit to his Majesty , will quiet and lessen contentions , and bring a great ease to the people . That in cases of Manslaughter there be before any pardon granted a reasonable satisfaction made according as it was heretofore practised in our Lawes of England , both before and since the Conquest , made to the wives and children of the Deceased , or if none to the next of kindred , unless the parties concerned shall otherwise agree their recompence or satisfaction , and an Estimatio capitis , or value of the party offending also paid to the King. That upon convictions of Adulteries & Fornication , as was antiently used , there be paid to the King a penalty proportionable to the offence ; and that in all Tryals for Manslaughter , Murder or other crimes , that hard and unreasonable custom now and heretofore used in England , that witnesses may not be brought , heard , or examined against the King be abolished , and that all good and lawfull testimonies which may tend to the discovery of the fact , may be , as in other Cases and Tryals , heard and received . That there be in every Circuit , as antiently , a Clerk , besides the Clerk of the Assize , appointed to enter in a Roll the Fines imposed by the Justices , and to make Estreats thereof duly into the Exchequer . That in all Actions of Trespass , or any other Action , to be brought in the Court of the Kings Bench at Westminster , or by Quo minus in the Office of Pleas in the Court of the Kings Exchequer at Westminster , or in the Court of the Marshalsea , or Court of the Virge of the Kings Palace at Westminster , whereupon any declaration shall be in debt , there be upon the first Process or Writ such Fines paid to the King , and in such manner as have been antiently and are now paid to the King upon actions of debt retornable in the Court of Common Pleas at Westminster : And that upon every such first Writ the Plaintiffs Attorney doe in order thereunto indorse the just sum in debt , which he intendeth to declare upon . That every Merchant or Trader that shippeth any goods to be exported , or unlades any imported , shall under his hand attested , or if need be , upon his oath deliver unto his Majesties Farmers or Customers a true note or Cocquet of all such goods exported and imported , and the true contents and value thereof . And that whosoever shall wittingly or knowingly deceive his Majesty , his Heirs or Successors therein , shall for the first offence forfeit five times the value , and for the second ten times the value , and for the third to be disfranchised , and never more permitted to trade : And that every conviction of any such offence shall if pleaded be a bar to them in any Action to be brought , commenced and prosecuted by them . That once in every three years Commissions be issued to carefull and worthy men in every County and City uninterressed , to enquire of all charitable uses , and the imployments and abuses thereof , and if need be to put a better order therein for the future : and that the Arrears be also collected and paid , the one moity to his Majesty , and the other to be imployed to the charitable uses . That Commissions be likewise issued now ( more then formerly necessary by the dissolution of Monasteries and Religious Houses , and the great disuse of Hospitalities and Almes deeds ) to enquire and certifie the number of Poor requiring almes in every Parish in every County and City , that all vagabond and wandring Beggars be returned to the several Parishes where they were born , and where it cannot may be reduced to some Parishes in every County or City less troubled then others with poor , and more able to maintain them , that the Church-wardens or Governours of every Parish ( as is usually done in Holland , where by their excellent orders and care of their Poor , very few are to be seen either wandring or miserable ) may upon poverty happening to any Family , or the death of a Father or Mother of children , goe or send to their houses as the Commissioners de aflictis at Amsterdam usually do , lift up the broken hearted , and enquire what are their necessities , or what there is to maintain them , and accordingly make provision for them , by relieving the aged , sick , or impotent , providing work for such as are able , and putting out of children at fitting ages to be Apprentices , or to service , or some other imployments , wherein we may well hope for those good effects which the like courses in France ▪ by the erecting of the Hospitals de dieu , or other Hospitals in or about Paris have lately assured , that the encrease and decrease of the poor in every Parish , and the Collections and Assessments for them , and Legacies and charitable uses given to the poor be yearly certified to the Clerk of the Peace of every City & County at the Quarter Sessions to be holden after Michaelmas , to be by him entred into fair Books with Calenders and Tables fitted thereunto , & publickly read before the Justices at the next Quarter Sessions after , to the end that the Justices there assembled may duly consider thereof , and make such further orders and Provisions , as shall be fitting and requisite : And that when the English Captives at Algier shall be released , and no more likely to be in that condition , the one pound per cent . granted by Act of Parliament for that purpose , or the like allowance and proportion for seven years to be allowed out of the Custome-house may be imployed to relieve and make a stock for the Poor of England : And in regard that such as sue at Law in forma pauperis , notwithstanding all the cares which have been hitherto taken by the Courts of Justice in assigning them Counsel and Attornies , and ordering that no Fees should be taken , they doe for want of money and those cares and diligences which are only purchased and procured by mony , many times , but tire themselves to no purpose , and after many years expence of time and labour in trudging to and fro , with their foul and tatered Bundles and Papers , wither away , & die in the hopes of that which for want of a due assistance and vigorous prosecution they could never bring to pass . That an Utter-Barrister or Councellor at Law , be once in every three years appointed by the Lord Chancellor or Lord Keeper of the great Seal of England for the time being , and to continue for that time , and no longer , in the high Courts of Chancery and the Courts of Kings Bench , Exchequer and Dutchy of Lancaster , and a Sergeant at Law in the Court of Common-pleas to be for the like time nominated and appointed by the Lord chief Justice of the Court of Common-pleas for the time being , to be of councell & assistant for all rights and duties of men and women suing in forma pauperis , and as Counsel to assist and help the poor of the respective places in the prosecution and recovery of all Legacies and charitable uses given to them or penalties given or ordained by any Statute to be had or levied for their use , or any Parish collections and assessements withheld from them , for which they shall take no Fees but in a reasonable manner upon the recovery thereof , or end of the said Suits : And for their better encouragement may in all the Courts of Justice of this kingdom , according to their said several nominations and appointments , as well Superior as Inferior , have a prae audience in those & other causes next to the Councel learned of the Kings and Queens of England , and the Prince or Heir apparent . That in every County and City there be a publick Work-house to imploy the Poor in the manufacture of Woollen or Linnen cloth , making fishing Nets , or other Manufacture ; and that for their better encouragement they may as they doe in Holland , after a competent number of hours in every day imployed in the work of the Publick , be allowed two hours in a day to work for their own advantage , notwithstanding that their lodgings , diet , and fitting apparrel be defrayed out of the Publick ; and that the Governours thereof may for their encouragement have the benefit and liberty of Exportation and Importation of any the said commodities without any Custome to be paid for the same , upon the Certificate of the next Justice of Peace of such County or City , upon the oath of every such Governour , that the said quantities to be exported were made or wrought at the said publick Workhouse , and upon the oath of such Governour , that the commodities imported are to be imployed , and used only in the said publick Workhouse . And that the kindred of Poor living in any part of England and Wales not taking almes , or overburdned with poverty , may be sought out and enforced to a reasonable contribution according to their abilities towards the maintenance , or providing for such Poor and decayed as within the eighth degree are of their own blood and lynage ; and where it may be , put them into such a way of living as may exempt them from the fate of common servants , or people taking almes , or from being placed in common Workhouses , that by such means and provisions to be made for the Poor , which our Acts of Parliament , and the careless and many times purloyning Collectors and Overseers of the Poor in severall Parishes , have not yet performed . And that all Nobility , Gentlemen and others , excepting such whose constant and necessary attendance upon the persons of the King , Queen or Prince shall not permit the same , having an Estate of Lands of Inheritance of the yearly value of one hundred pounds per annum , or more , above reprises and their houses of residence in any Parish of England or Wales not keeping their Christmas in the said house or Parish , shall at every of the said Feasts pay unto the Poor of the said parish the sum of forty shillings , or proportionably according to that rate of his or their Lands lying or being in the said Parish , besides their other payments to the Poor collected and assessed in the said Parish . That so the multitude of Beggars in England may no more be a Byword amongst other Nations , that there may be no complaining in our streets , nor such dismall and sad spectacles , as the leprous , blind , lame and aged people and young children crying out for bread , and ready to starve for want of food or clothing , nor so many counterfeits or tricks to make an ill use of charities to uphold their lazy and ugly condition of life . That the Clerks of the Peace and Assizes , and every Justice of Peace shall take their oathes not to release or discharge , or respite any Fines , Issues , Recognizances and Amerciaments forfeited & due to the King , but carefully and duly estreat and certifie them every half year into the Exchequer in the Terms of Easter and St. Michael , which the example of Hengham a Judge in the Reign of King Edward the first , who for reducing an Amerciament or Fine of thirteen shillings four pence , to six shillings eight pence , in favour and pitty of a poor man , was grievously fined , and ordered to provide at his own charge the great Clock at Westminster , may perswade them not to violate . That the Ballance , and In and Out of forraign Trade may be observed and reduced into Books , to be yearly brought into the Exchequer , but not with Blanks , fair Seals , Covers and Labels , as they have used to be to little purpose . That the more to encourage Merchants to an honest accompt and payment of their Customes to the King , and to deal better with him , it may be enacted that where any Ships of any Merchants , and their goods and lading shall be taken in times of hostility with any other Prince , so as it be not by the carelesness and neglect of the Merchants in carrying prohibited goods , or the Captain or owner of the Ships in not making so good a defence , or not arming or providing themselves so well as they ought , the losses of such Merchants and shipowners duely estimated and proved before the Judges of the Admiralty shall be refunded out of the next Prizes which shall be taken from that Nation , Prince or Enemy that took it , the accustomed allowances to the Lord high Admiral and others first deducted . That the wages of Servants now trebled more then what it was twenty years agone , and of Labourers and Workmen very much increased by reason of the intollerable and unbecomming pride of clothes now in fashion amongst them by licence , and imitation of times of pride , disobedience , disorder and rebellion , and the folly of some of their Masters and Mistresses enjoyning them to wear clothes too high for them , may be limited and ordered to be as they were before these last twenty years , that every Master or Mistress that giveth more shall forfeit double the value to the King ; and that no Servant who hath formerly served in any other place be received or taken into service without a certificate or testimony of their good behaviour from their Maister or Mistress where they last served , if they shall not appear to be unreasonable , or for malice , or any sinister ends to deny the same . That the Tenths of all the Fishing in the British or English Seas by Barks or Busses , now beginning to be instituted , and taken into consideration , which in part was intended to be had by King Edward the sixth upon the coasts of Wales , Ireland and Baltimore , by building a Fort or Castle upon the streight to command ( as Captain John Smith relates in his discourse of the benefits of Fishing in our English Seas ) a tribute for Fishing , and if industry fail not , is like ( if we but imitate the Hollanders , who have hitherto enjoyed that which was none of their own , and enriched themselves by our carelesnes ) to grow up to a great , and not to be estimated National profit be paid and accompted for to the King and his Heirs and Successors , who may well deserve it , when as besides his Soveraignty of the Sea , and the guard and protection of them by his Navie and Shipping , he hath of late in the midst of his own wants and necessities for the better encouragement of his people to seek their own good , and that which our British Seas will plentifully afford them , given all his Customs inward and outward for any the returns to be made by the sale of Fish in the Baltick Seas , Denmark and France for seven years for the first entrance into the Trade of Fishing . That the rivers in England and Wales not yet navigable , and fit to be made navigable , may by a publick purchase of the Mills or Wears standing upon them , and pulling down the Wears & Kiddels hindring it , attempted in the Reigns of King Henry the third and Edward the third , by several Statutes made for the taking of them away , be made navigable , and a reasonable Toll or Custome upon every Vessell and Fraight , paid to the King , his Heirs and Successors . That for the better support of our Nobility , and the honours which they enjoy , and that as starres in our firmament , they may be able to attend the Sun their Soveraign , and not suffer such Eclypses in their Estates and Revenues , as too many have lately done , that the Lions which should guard the Thrones of our Kings , may not pine away or languish , and the stately columns and pillars thereof moulder into ruins and decay , and have small , or unbecoming Estates , to maintain them in the splendor of their Ancestors , and the Royal Revenue not to be troubled or lessened by suits or requests to supplie them , they may according to the intent and custome of the Fewdall Laws , and the locality which ought to be in Earldoms and Baronies , not be without some honorary possessions , which was so usual and frequent in England , as through the three first Centuries after the Conquest the Lands belonging to Earldomes and Baronies were accompted to be parcels and members thereof , and the word Honor so comprehensive as it conteined and comprised all the Lands belonging thereunto , as well as the Earldomes , Baronies and Title which did in sundry of of our former Kings reigns grants pass and comprehend the Land as well as the Titles . And that according to that laudable and ever to be imitated example of Thomas late Earl of Arundel and Surrey , in obtaining an Act of Parliament in the third year of the Reign of King Charles the Martyr for the annexing of divers Baronies and Lands to the Castle and Earldome of Arundel , inseparable and unalienable in contemplation of the poverty and small Estates of the then Lord Stafford , and some other of the antient English Nobility wetherbeaten and wasted by the injuries of time or the luxuries , and carelesness of their Ancestors . The Dukes , Marquesses , Earls , Viscounts , Barons , and Baronets of England , leaving some other Lands to their own disposing , for the preferring of younger children , payment of debts , and supply of necessities , which accidents may cast upon them , may be ordered to settle & annex by like Acts of Parliament the Capita Baroniarum , and chief Castles , Manors and Lands belonging to their Earldomes , Baronies or Estates competent and sufficient to keep up and sustain the honour and dignity thereof from the gripes or defilements of poverty and Adversities not to be aliened or separated from their Earldomes , Baronies or Dignities as long as it shall please God to continue them . That the antient use of the Exchequer be restored , and the Kings revenues carefully collected and answered , and that the Justices in Eyre of the Kings Forrests and Chases , on this side and beyond Trent , Clerkes of the Market , and Commissioners , and Clerks of the Commissioners of Sewers do duely certifie into the Exchequer all Fines , Issues , Amerciaments imposed and forfeited . That upon all manufactures made beyond the Seas , and all things to be imported tending to excess and luxury , as Tobacco , Silks , &c. there be an Imposition more then ordinary , which the wisdom of Neighbor Nations have ever thought expedient , and was in the Reign of King James the prudent advice in Parliament of the Lord Treasurer Salisbury . That in the deplorable Cases of wreck at Sea , the Masters or Owners of such Ships , not being Pirates or Robbers ( whether there be any living thing remaining or not in the Ship ) all and every part of the lading , Tackle , and Ship which shall be saved from the fury of the Sea , or found on shore , notwithstanding any detestable custome to the contrary , may according to the Ancient Equitable Laws of Oleron be saved and preserved for the right Owners coming within a year and a day to claim the same , and tendring such just charges and recompence , as by two of the next Justices of Peace not interessed , shall be found to be reasonable , for those that were Instrumental in the preservation thereof , that so the inhumane and unchristian customes of too many who live upon the Sea Coasts , being in a Shipwrack as pittiless and cruel as the Winds and Seas , taking away that which they left , and rejoycing in the disasters and miseries of those that are afflicted , may be abolished . That Champerty and maintenance being now crept through the care and severity of all our former good Laws and Statutes made to prevent it , into such a general practice and profit , as in the confidence of dark contrivances , and the impossibility or difficulty of discovery of them . Some of our Gentlemen of the Gyges ring or invisible Estates , in a way which they have found out to live , aswell without a Revenue , or other lawful means and professions as with them , can like Nimrods , or mighty Hunters , by shares gained in the driving of Causes , support an idle Gallantry by the spoil and oppression of others ; some women more wily then good can be Agitators or Retrivers of causes , not concerning them , for a part of the hoped for Booty ; and many Citizens and Tradesmen do buy pretended Titles and Interests , and ingage and furnish money for no small parts to be had upon the success of Suites in Law ; and too many Attornyes , Sollicitors , and others , can make it the best of their employments to deal in gross and by whole sale , and will not as the Law enjoyns them , make Bills or Tickets to their Clyents of their just and allowed Fees and disbursments . Some good Laws and powerful restrictions may be made to prevent or punish those grand abuses , and that if either the Plaintiff or Defendant in any Action shall require it , an Oath or Oaths may be given at the Tryal or Hearing of such Suites or Causes , to any who may discover such Champerties or Maintenance ; and if any shall be found offending therein , either by disbursing of money , to have any share or part of the thing inquestion , on , or by any pre-contract , or other ingagement , the Verdict may not be taken , nor Judgement entered ; or if it shall be discovered and proved after the Verdict taken and Judgement entred , before the end of the Term , wherein such Judgement shall be entred ; the said Judgement be by the Judges of that Court arrested or made void , and whether it be discovered and proved before Judgement entred , or after the parties offending , as well those that committed the Champerty and Maintenance , as all their Abettors may every one of them forfeit and pay to the King and his Heirs and Successors , the sum of one hundred pounds , and be imprisoned without Bail or Maineprise , untill they shall have paid the same , and also forfeit and pay to the party greived , his double Costs and Damage , together with the moyety , or half of the matter in question . That there be no pardon or reversal of any Outlary , in Civil aswell as Criminal Causes , or Actions , without five Marks first paid to the King in discharge of his Contempt , and a Charter of Pardon , as was anciently used , first sued out under the Great Seal of England . That all Sheriffs , under-Sheriffs , and their Deputies , do at the entrance or admission into their Offices , take an Oath not to imbrace any Juror or Juries , or for any Fee or Reward , or otherwise to nominate any , at the request either of the Plaintiffs or Defendants , or of any on their behalf ; and that they shall not make out , or deliver , or willingly or wittingly permit to be made in their names , any Blanck Warrant or Precept to Arrest any person without a Writ under the Seal of the Court , wherein such Action is laid or to be tryed , first had and delivered unto them ; and that no Sheriff or under-Sheriff , do crave allowance or respit for any debts of the Kings , but upon just cause , That every Juror , if the Plaintiff or Defendant , or their Attorneys shall before they besworn require it , do also take an Oath that he hath not received any Instructions or Evidence before hand from the Plantiff or Defendant , or their Attornyes , or any on their behalf . That all English Merchants trading into Foreign parts , may be ordained to bring into England , at or in their return , a certain and reasonable quantity of Bullion or coin of Gold or Silver , to be yearly certified and Registred in the Exchequer , and that such as shall be brought in , may not as it is now , be bought and Registred in the name and for the use of the East Indian Company ; and that the East Indian Company to prevent any disguise , which may be made use of betwixt them and the Merchants , may also be ordered yearly to Register and Certifie into the Exchequer , all such Gold and Silver Bullion or coin thereof as shall be imported by the said East Indian Company . That all Foreign Merchants , Trading into England , or any the Dominions thereof , be ordained to export at their returns English Manufactures and Commodities , to the value of what they imported , and not to make their returns in money , or by Bills of Exchange , as the Jews in great numbers trading hither , are known now to do . And that all Merchants Alien , if they be not such as have houses and habitations here , or if they have , do at their first beginning to Trade , enter into Recognizances of great penalties in Chancery , not to Transport , or cause to be Transported out of England , as was in part provided for by the Statute of 2 H. 6. chap. 6. Or returned by Bills of Exchange any more then the sum of five pounds for their necessary charges , upon pain of forseiting treble the value thereof . That the many more then formerly used deceipts , in the Shearing , Tentering , hot Pressing , and false Dying of our English Clothes , which do much or more endamage our Trade of Cloathing , then the Transportation of Fullers Earth , Sheeps Pelts with the Wool upon them , or the Clothes in the Whites , may be by some good Laws , restrained and suppressed ; and that the Aulnage aswell of Cloth as Stuffs , may according to sundry Acts of Parliament and other provisions be better looked unto and put in execution . That the great and many Deceipts , Abuses , and Adulterations now used in most or too many Trades and Manufactures , surpassing all the Cheats and Tricks of Hocus Pocus , or which the Pillories , & the Court of Star Chamber heretofore punished , ingrossings of Commodities , or carrying them beyond the Seas , on purpose to make a scarcity , and bring them in again at double or greater Rates , unlawful confederacies to make the Manufactures so slight or evil wrought , as they may the sooner be worn out ; or by a small price paid to the Workmen , get the greater Rate in the Retail , Bonds or Securities enforced from Workmen not to make or sell at that rate to any other ; Combinations to inhaunce Prices , and so many more ungodly Artifices imployed , as Tricks and Trades , are now grown to be Termes convertible , and the Divels Registers have not precedents enough for them , whereby not onely numberless & great oppressions are daily exercised upon the people , to the impoverishing of many of them , by those that like Pikes in the Fish Ponds , do live only better then others , by devouring and undoing the smaller Frye , and industriously imploy themselves therein , and at the same time cry out of injustice and oppression where it was not , and busied themselves about Religion and Gospel Purity , when they never intended nor could not afford to practice it , whereby all our English Trade and Manufactures are disparaged and brought into a slight esteem , and made to be unsaleable , or at very low rates in the parts beyond the Seas , and to give place to the Commodities and Manufactures of other Nations more honestly made , and if not speedily remedied , will render all his Majesties cares of reviving and promoting the English Trade and Merchandise of no avail , as long as that Canker , or a principal cause of the decay and ruine of it shall be permitted , may by some good Laws be restrained and suppressed . That the many good propositions heretofore made by Mr. Henry Robinson and some others , concerning the Regulation or bettering of the ways of Trade and Merchandise , may now after a Committee of Trade in the times of Usurpation and Confusion , sleeping too much over it , and doing nothing , whilst Trade it self came to be almost ruined , be taken into a more serious consideration , and some good Laws enacted in pursuance of them . That the Manufacture of Linnen Cloth , the importation whereof from Flanders and other Foreign parts , expends the Nation , little less then 100000 l , per annum , by reason that too many of our Wives in England have exchanged their good Housewisfery for Gallantry , and Spinning for spending , may be more incouraged in England by Injoyning six Acres in every hundred Acres of errable Land in England and Wales , to be yearly sowed with Hemp & Flex , and that there be an Aulnage of Linnen Cloth , as well as of Stuffs and Woollen Cloth. That our Laws be not ( as too many of them use to be ) Still Born , or expiring by that time they can be read or recorded , or Starved at Nurse ; but that some good Laws may be made to prevent or cure their Swouning or Convulsion fits , and bring them up to the good ends or purposes , for which they were ordained , and put them in execution . That our Paths being restored , we may rejoyce in our Laws and Constitutions , and abhor those wandring after Dark Lanthorns , or the ignis fatuus of newlights , which have lead us into many great miseries and confusions . That the Excise of Ale , Beer , Perry , and Syder , and the charges affliction , and troubles , which it brings upon the people , which before our times of misery , would have brought death and ruine any private contriver ; and was at the first created by Oliver and his Impes to maintain a cursed Rebellion , and set up a destroying and detestable Anarchy , may be abolished , and taken away , and the Nation restored to the freedom and quiet which they formerly enjoyed under this our ancicent and excellently composed Monarchy . That his Majesties Ancient and just Rights of Royal Pourveyances upon a due Regulation of any evils or oppressions which may be proved to have been committed in the manner of taking of them , may be restored to his Majesty , his Heirs and Successors , and that very great Consumption of his Estate , occasioned by an enhaunce , and trebling of the Rates and prices of Provision for his Houshould , which hath laid heavy burdens upon his too small and overmuch impoverished Revenues , multiplyed his wants and necessities , disturbed and disparaged the order and honor of his house , and produced very many great Inconveniences worthy to be remedied by the Parliament , and the care which they usnally take for the support of his Imperial Crown and Dignity , may be cured . And when a long and generall observation and experience can tell every man , who is not a stranger to his own affairs , or of other men , how hard a thing it is for one that is behind hand to overcome his Povertie and get before hand ; how impossible it will be for a private man to live out of Debt , when his yearly and necessary expences and disbursements shall far surmount his Receipts and Revenues ; how necessary a Treasury , Banke , or overplus of money which is Robur belli & fundamentum ac firmamentum pacis , is for a King in times of War , and its many chargeable occasions , and the power and reputation of it in times of Peace to preserve it ; and that all Kingdoms and people never were or could think themselves safe without it . That in order to publick good , and to consolidate the hoped for happiness of King and People , which the pretended Parliaments of our late Times of Usurpation , busying themselves in laying Burdens and Taxes upon the People , for the maintenance of a War , and an Arbitrary power , and Tyranny , and the continuance of their miseries , could never find the way or leisure to establish . A Royal and Princely yearly Revenue may be settled upon his Majesty , his Heirs and Successors ; and to the end to make the Plaister or the Tent proportionable to the wound , and to the cure intended , and not make the repaires of his Revenues to be insufficient or more chargeable and burdensome , by doing it by parcels or at several times , whereby it may ruine , before it can be repaired , or suddainly after ; and for the better satisfaction of some of the Purchasers , who were the cause of their own and his Majesties troubles and miseries , and of the Kings Loyal Party who suffered with him in it ? The highest monethly Assessement or Tax which in our late times of confusion , was One hundred and twenty thousand pounds per mensem , may by Assessement or Subsidies , or some other way proportionable unto it for the next two years , if the Parliament shall think fit , be assented unto , and yearly collected and paid into such hands as they shall appoint , and such part thereof not exceeding the sum of two hundred thousand pounds , be destributed by his Majesty , to the suffering and Loyal English who took Armes for him or his Royal Father , and never deserted their Loyalty ; or to their Wives and Children surviving them , as his Majesty under his sign Manual shall direct , and some other part of the said moneys , not exceeding the sum of one hundred thousand pounds arising out of the said Assessements be imployed for satisfaction , without allowance for Interest ( which should not be for wickedness or sinfull contracts ) of such Wives and Children of Purchasers , or the Purchasers of Purchasers , which have yet received no satisfaction according to his Majesties Declarations , by the Bishops , Deanes , and Chapters , or Prebends , or out of his Majesty or his Royal Mother the Queens Revenues , or which have not been Purchasers by false Debenturs ; and the other remaining undisposed moneys as aforesaid , of the said two years Taxe , to be and remain to his Majesty , his Heirs and Successors , as a sacred Patrimony unalienable to be annexed , inseparably to the Crown of England , not to be Leased or Rent charged , further then for one or two Lives , or one and twenty years . That after the end of five years next ensuing , there be another monthly Tax or Subsidy of 120000 l. more for two whole years then next ensuing , to be raised as aforesaid , and disposed of by such as the Parliament shall appoint for his Majesties use , of which , if his Majesty shall please , there may also be issued by Warrant under his Majesties sign Manual , such moneys as his Majesty shall think fitting , not exceeding the sum of two hundred thousand pounds , to be imployed for the further relief of such of the Loyal suffering party in England for his Majesty , or his late Royal Father , as his Majesty shall appoint , and that the residue of the monys to be collected and raised by the said monethly Tax or Assessement for two whole years be , as soon as conveniently it may , laid out and disposed for the purchasing of an honorable Revenue in Land for the King & his Successors unalienable as aforesaid , and to no other use or purpose , which they that could pay as much , and a great deal more to uphold a Slavery , may be better contented to pay , to establish a redemption and freedom . And that after the end of three years next after the said two years , there be a like monethly Tax gathered and collected for two whole years next ensuing , to be disposed of by such as the Parliament shall appoint , for the buying of an honorable and Princely Revenue in Lands of inheritance for the King and his Heirs and Successors , never to be aliend from the Crown of England , other then as aforesaid . And although it may seem to be a great sum of mony in the Total , to be raised out of the people , yet it being the more probable and easie way , and a great deal more necessary then what hath been done for worser ends and occasions , and being to be born by so many Cities , Towns , Counties , and people as are to contribute thereunto in several yeers , and with several respirations , will the eby not onely free them from many of the like publike Taxes and Assessements hereafter , and save them in their purses and estates , as much or more then that will amount unto , by some good Laws and provisions to be made for the freeing of them from many of the gripings and oppressions of one another , but entail our happiness and a greater then formerly freedom , quiet and safety upon themselves and their posterity . For there was , is , and ever will be , a necessity of power , strength , and riches to be in a King that intends either to protect or make happy himself and his people , as well as to have their love and affection ; and though David when he was in his private condition , could before he was King of Israel rescue a Lamb of his flock , slay a Lyon and a Bear , and with a sling and a peeble stone kill the dreadful Goliah ; and that Nathan the Prophet ( no flatterer but a man of God ) had after he was a King , said unto him , The Lord is with thee , and brought him a message from God , that His house , and Kingdom , and throne should be established for ever , yet neither he , nor his subjects the men of Judah and Israel , could believe him or themselves to be in any condition of safety without his mighty men of war , Militia , Captaines of thousands , and Captains over hundreds ; nor did son Solomon after God had given him a large and understanding heart , and a portion of wisdom beyond that which ever was granted to mankind , with a promise likewise of riches and honor , suppose it to be any policy , to neglect his Tributes and Presents , the improvement and well ordering of his Revenues , and putting an honorable order in his houshold , to build Cities of Store , and Cities for his Chariots , and Cities for his Horsemen , and a Navy of Ships in Ezion Geber , and send them to Ophir to fetch Gold. Nor can it be certainly for the good and safety of the people to do by their earthly King , who untied the chains and fetters of their folly , restored them to their Laws and Liberties , and , as a balm of Gilead , cured and healed the wounds of those that never could do it themselves . Nor accord well with their gratitude , or the many protestations and promises which they made of sacrificing their lives and fortunes , and all that they had in order to his happiness . Or with the repentance and satisfaction ( which makes repentance efficacious ) of those that were the causes of his twelve years misery and affliction , greater , longer , and sharper then any of his own hundred and eight Royal Progenitors ever endured , enough to have turned his youth into the gray hairs and infirmities of an old and decrepit age . To doe by him as they doe by their heavenly King , take , get , and receive all they can from him , but return as little as they may for it , or by the earth their common feeder and nourisher in their lifetimes , and the receiver and entertainer of them at their deaths , by making furrows on her back , and enforcing it to serve all their designs and business ; and for all her fruits and kindness , doe not so well by her as the Heathen , who could sacrifice to Tellus and Ceres , but think they do enough , if in the moneths of April and May they shall be pleased to admire her beauty , and beat Harvest well contented to fill their Barns with her bounty . And will be as likely to be for their good , as for children to have their parents so poor and impotent , as not to be able to protect them , or for those that are to go a Sea Voyage , to have the ships ill or not at all victualled , or to adventure in a War or Garrison , when the Commander in chief , or the General , upon whose wisdom , valour , strength , and conduct the safety of all dependeth , shall be every day to seek for victuals to feed them or himself , Ammunition or Weapons to defend , and mony to pay them . Unless they could be assured by no doubting Oracle , that it would be for the good , honor , peace and plenty of the Kingdom to have the head , faim , languish , & want its necessary support & Food , and that the members in the body natural although never so warmely clad , or made much of , can thrive whilst the Head is sick and infirme . Or unless they would be as wise as the Citizens of Constantinople , who rather then they would impart any of their Riches to their Emperor for the most necessary defence of their City , Estates , and Religion , against the Turk when their City was besieged by him , would reserve it for a prey to their enemies , and a perpetual slavery for themselves and their posterities , or as our late men of Reformation , and murmerers at their own happiness , did in their complaints , and taking away Ship-money , and exchanging it for more miseries then ever any of their Ancestors endured , when afterwards they were enforced to call their slavery a happiness , and to pay and pray , and give God thanks for it . When as the great charge of Government in times of peace , and the quietest imaginable , and the necessity of the peoples Aids and Taxes to support it may the better be believed , when Augustus Caesar , notwithstanding the enjoyment and full possession of the Empire , or greatest part of the world , with the riches and spoils thereof laid up in the publike Treasuries and their Capitol , enough ( besides what Julius Caesar had in the civil Wars consumed ) to make it the greatest that ever was together at one time above ground ; and his great frugality and care in managing his Revenue , by keeping a book or memorials , as Tacitus saith , wherein Opes publica continebantur quantum Civium sociorumque in armis quot classes Regna Provinciae Tributa vectigalia & necessitates ac largitiones , and had as Bodin saith , received Immanem pecuniarum summam ex Testamentis , great Estates of Inheritance from those very many that made him their Heir , could not subsist without Tributes and Taxes , but though the bloody and expenceful Bellona was laid to sleep , and there was nothing likely to disturb that happy and grateful calm of peace with which the world was then blessed found a necessity to Tax all the world , and even Joseph with Mary the mother of the Redeemer of it , must go up to Bethlehem to be taxed and pay Poll-mony , and for all that with all his care and providence in governing that Empire , having spent two paternal Patrimonies ceterasque hereditates in Rempublicam , and much of his own Estate upon the Commonwealth , left but a small and inconsiderable Revenue to his heir . And when as the King by his inestimable charges , great and daily expences for the protection and good of his people , and necessary maintenance of his Royal Dignity , is in a worse condition then any of his Nobility or Gentry , who may when their necessities enforce them strike sail if they please , and measure their expences by their Estates . Because he cannot defend himself without defending his people , must do like a Prince , and live like a Prince , and it cannot be for the good , safety , and honor of them that he should either live or do otherwise . But should rather believe as King James the fifth , in Anno 1540. his Majesties great Grandfather did , when in a preamble to an Act of Parliament in Scotland for the annexation of Lands inseparable to the Crown , he did declare , that it Was understood and weill advisedly considered be the Kingis grace , and the Estates of his Realm beand assembled in Parlement , that the patrimony of his Crown and Revenues thereof beand angmented is the great weill and profit baith to the Kingis Grace and his Leiges ; and that King James the sixth , his Majesties Grandfather , and his Parliament of Scotland in Anno 1600. did not erre in the preamble of an Act , Of Annexation of forefaulted Lands and others to the Crown , wherein they did declare , That it is clearly understand by the Kings Majesty and Estates of the Realm , that the augmentation of the patrimony and Revenues of the Crown , not onely serves for the forth setting and maintenance of his Highness Honor and Royall Estate , but alsorelieves greatly his Subjects of divers charges and heavy burdings . And when after his coming to enjoy the Crown of England , he did in his Declaration in the year 1619. Declaring what things he would be moved to grant to his servants and suitors by way of bounty , and what he would not signifie his desire not to cast himself and his posterity into these wants or straits which might drive them to lay burdens on the people . Nor should the people of this nobler and better natured Nation , who have in the times of Monarchy been blest with a greater freedom then France , Spain , Holland , Venice , or any Christian or Heathen people , or Kingdom were ever owners of , be unwilling to imploy as much of their care and well wishes in setling the Kings Revenue , now so much weakened by age and kindness , and ruined for want of repairs , and being repaired , will be but to help to protect and defend themselves as they usually and commonly do in the repairing and building a new their owne houses , amending or making new their Clothes when they perceive them to decay , or refreshing or bringing to heart again their Lands which by doing them good have needed it . When as those who contrived and assented unto Olivers Instrument of Government , as it was called , who was one of the greatest of Villians and Tyrants in the Christian world , and not only murdered his King , but did all he could to destroy the Bodies , Estates , and Souls of his good people , did more resemble Antichrist then either Pope or Turke , highly deserve a burying place under the Gallows , & all that Ignomany could devise to lay upon him , and was of neither Royal or Noble Birth or breeding , and could be well contented to allow him Ten thousand Horse & Dragoons , & twenty thousand Foot , and the Navy to be maintained by a constant yearly Revenue to be raised for that purpose , with the remainder of the Kings , Queens , and Princes Revenues , not disposed of ( except Forests and Chases , and the Mannors thereunto belonging ) all the Lands of Delinquents in Ireland , in the Counties of Dublin , Kildare , Clare and Katerlaugh , the forfeited Lands in Scotland ( which were great and considerable ) the two parts of Recusants Lands in England , not compounded for , and all Debts , Fines , Penalties , Issues , and Casual Profits belonging to the Keepers of the Liberties of England , so miscalled , with two hundred thousand pounds per annum yearly Revenue , for the Administration of Justice and charge of Government , to be and remain to that Minotaure or Protector , so called , and his successors , and the Framers of that which was called the Petition and Advice , could afterwards in the year 1656. by a fancied Authority of Parliament , not onely confirm unto him that Revenue in Land setled upon him , with the Casual profits belonging to the Crown of England , but intreat him to accept of ten hundred thousand pounds per annum , yearly Revenue , to be raised upon the people without a Land Tax for the maintenance of the Army and Navy , with such other supplies , as should be needful to be raised from time to time by consent of Parliament , and three hundred thousand pounds per annum in like manner to be raised for his support of the Government . Need not repine or think that , or a greater Revenue to be too much for the highest born Prince in Christendom , and the Heir of a Succession of Kings for more then one thousand years last past ; who could suffer their Regal Power and Authority so to be bound with the Cords of love to their people and the rules of right reason , as the Sun in all his Travails hath never yet beheld a people enjoying better or so good Laws , and Liberties , and less Taxed or burdened with their Princes occasions . And when as there is not any City or Town Corporate in England , but have received and enjoyed their Charters and Liberties from the King or his Progenitors , not any of the Nobility or Gentry , but have had their honors , priviledges and dignities , and all or some of their Lands and Estates from them ; nor any kinred or family in England , which either by him or some of his famous Progenitors , or the many Josephs and Mordecai's in every age advanced by them , have not mediately or immediately been preferred and advanced , and had all that they have or enjoy by their bounty and munificence , or had much kindness or Royal favors shewed unto them , and like the lesser Trees or Shrubs in the Forest , have comfortably grown up and been protected and shadowed by Druinas Royal Oak , for which in the care of their own good and safty which are involved in his , they are as their forefathers were , more then ordinarily obliged by those eternal Bonds of gratitude , which time or adversity should never be able to break or obliterate , to contribute all they can to his wellfare , and this our once most famous Monarchy . That so our Hercules may not want his Club to defend Himself and his people , that the cry of Debts and people wanting their mony , being the worst of Anguishes to a virtuous and generous mind , may no longer afflict him ; that the looking upon a small Revenue may not dishearten him to take the accompts of it , and that a greater may , now our Janus Temple is shut , put him in mind to do as Augustus Caesar did when all the world was at quiet , keep an Exact account of his Revenues and Expences . That he who hath builded up our wasts , and raised up the former desolations , may be at rest from his sorrows , and all the people in his Dominions break forth into singing praises to the Most High , which hath made him an Instrument to do wonderful things , and like the Dove sent out of Noahs Ark , to bring us the Olive Branch , which the Deep and the rage of many waters had covered . FINIS . Notes, typically marginal, from the original text Notes for div A54694-e390 §. 1. §. 2. §. 3. §. 4. §. 5. §. 6. §. 7. §. 8. §. 9. §. 10. §. 11. §. 12. §. 13. §. 14. § , 15. §. 16. §. 17. §. 18. §. 19. §. 20. §. 21. §. 22. §. 23. §. 25. §. 26. § , 27. § , 28. §. 1. §. 2. §. 3. §. 4. Brewers . Merchants , Wine-Coopers and Vintners . Bakers , §. 5. §. 6. §. 7. §. 8. §. 9. §. 10. § , 11. §. 12. §. 13. ▪ §. 14. ▪ § , 15. §. 16. §. 17. §. 18. §. 19. §. 20. §. 21. §. 22. §. 23. §. 24. §. 25. §. 26. §. 27. §. 28. §. 29. § , 30. § , 31. §. 32. §. 33. §. 34. §. 35. §. 36. §. 37. §. 38. 
A29540	----	A discourse on the late funds of the Million-act, and Bank of England shewing that they are injurious to the nobility and gentry, and ruinous to the trade of the nation : together with proposals for the supplying Their Majesties with money on easy terms, exempting the nobility, gentry &c. from taxes, enlarging their yearly estates, and enriching all the subjects in the kingdom ... / by J.B. Briscoe, John, fl. 1695. 1694 Approx. 162 KB of XML-encoded text transcribed from 31 1-bit group-IV TIFF page images. Text Creation Partnership, Ann Arbor, MI ; Oxford (UK) : 2007-01 (EEBO-TCP Phase 1). A29540 Wing B4745 ESTC R25299 08844867 ocm 08844867 41953 This keyboarded and encoded edition of the work described above is co-owned by the institutions providing financial support to the Early English Books Online Text Creation Partnership. This Phase I text is available for reuse, according to the terms of Creative Commons 0 1.0 Universal . 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Understanding these processes should make clear that, while the overall quality of TCP data is very good, some errors will remain and some readable characters will be marked as illegible. Users should bear in mind that in all likelihood such instances will never have been looked at by a TCP editor. The texts were encoded and linked to page images in accordance with level 4 of the TEI in Libraries guidelines. Copies of the texts have been issued variously as SGML (TCP schema; ASCII text with mnemonic sdata character entities); displayable XML (TCP schema; characters represented either as UTF-8 Unicode or text strings within braces); or lossless XML (TEI P5, characters represented either as UTF-8 Unicode or TEI g elements). Keying and markup guidelines are available at the Text Creation Partnership web site . eng Bank of England. Finance -- Great Britain -- History. Banks and banking -- Great Britain. 2006-05 TCP Assigned for keying and markup 2006-05 Aptara Keyed and coded from ProQuest page images 2006-07 Emma (Leeson) Huber Sampled and proofread 2006-07 Emma (Leeson) Huber Text and markup reviewed and edited 2006-09 pfs Batch review (QC) and XML conversion A DISCOURSE ON THE Late FUNDS of the Million-Act , Lottery-Act , and Bank of England . SHEWING , That they are Injurious to the Nobility and Gentry , and Ruinous to the Trade of the Nation . Together with PROPOSALS for the Supplying their Majesties with Money on easy Terms , Exempting the Nobility , Gentry , &c. from Taxes , Enlarging their Yearly Estates , and Enriching all the Subjects in the Kingdom . Humbly offered and submitted to the Consideration of the Lords Spiritual and Temporal , and Commons in Parliament assembled , By J. B. London , Printed in the Year MDCXCIV . TO THE KING & QUEENS Most Excellent Majesties . May it please your Majesties ; THE present Enjoyment of our Religion and Liberty being wholly owing , under Heaven , to your Majesties ; and the Preservation of them having engaged your Majesties in an expensive War with the most powerful Enemy to the Religion and Prosperity of this Nation ; It is become the Duty of every particular Person ( as well as of the whole Body of the People ) to contribute his Endeavour for securing and perpetuating those inestimable Blessings . This Consideration engaged me upon those Thoughts which I have digested in the following Treatise , and now m●st humbly present to your Majesties : Wherein I principally aim'd to furnish your Majesties with the Hearts and Purses of your Subjects , by proposing such a Method for the Supply of your Majesties , that it shall be their very Interest to support your Majesties and the Government , whether in Peace or War. It is the peculiar Felicity of our Constitution that makes this Design practicable only in England , ( for no People under an Absolute or Arbitrary Government is capable of it ; ) and if my Zeal does not blind my Judgment , I think I have laid a Foundation for this Nation 's Greatness and Riches , which none of our Neighbours are capable of disturbing , or arriving to themselves . That your Majesties may long enjoy the Fruits of it , and the Nation long enjoy the Happiness of your Government , is the hearty Prayer of Your Majesties most obedient , and most faithful Subject and Servant , J. BRISCOE . THE PREFACE . WE generally suspect that Person to be in a declining Condition who pays extravagant Interest for Money to support his Credit , or whose Bills or Notes under his Hand are refused to be discounted by monied Men , unless for more than an ordinary Premium or Consideration ; and it cannot but trouble every true English Man ( who hath any Esteem for his Country ) to see the Nation ( not inferiour in Riches to any in Europe ) treated like a Bankrupt , the Nation 's Bills ( if I may so call Exchequer Tallies , Debenters and Sea-mens Tickets ) sign'd by their Majesties Commissioners , being less esteem'd than a Note under the Hand of an ordinary Tradesman , to the no small Diminution of the Honour of the Nation , and the great Discouragement of our English Sea-men , who hazard their Lives in Defence of their Country : and their Majesties are obliged to pay Extortion for almost every thing they buy ; and none for that Reason will trust the Publick but upon the Prospect of most extravagant Profit and Advantage . And if we would enter into the Account of it , do not these Losses fall upon the Nation ? If their Majesties must pay three Millions for what might be bought with ready Money for two Millions , must not the Nation pay one Million in three extraordinary , out of their Estates , more than is necessary , for want of taking other and better Measures ? The War it self must needs be very expensive ; and ought we not then to exercise all the good Husbandry we can to make the Taxes as easy as may be to the Subject ? Was there ever so great a Complaint of the Scarcity of Money as now there is ? It would be endless to show the many Hardships and Pressures which many of the Subjects labour under , all which is charg'd to the Account of the Government , as if their Majesties were the Occasion of them , when the real Causes proceed from our selves , as will appear in the ensuing Treatise . A most unworthy and disingenuous Requital to their Majesties , who have been the Instruments ( under God ) to restore our expiring Liberties , when we had scarce any thing left of our antient Rights . I must confess I do not delight to think of these things , but heartily wish all were buried in Oblivion , could it be , and we not forget who were our Restorers . It is therefore my Duty to do their Majesties that Right , as to let the Subjects know where a great part of the Money goes which they pay for the Vse of their Majesties , and that their Majesties have the least part of it to carry on the War : And therefore if any of the Subjects be grieved , it is fit they should be acquainted , that their Pressures ( if any are upon them ) proceed not so much from the Taxes as from other Causes , which ( if not removed ) will in a few Years ruin the Kingdom . I have , it 's true , declared my Opinion against the Manner of raising Money upon the late Funds , I mean of the Million-Act , Lottery-Act , and Bank of England ; and I believe ( when my Arguments are well weighed ) it will appear not to be without Reason . I doubt few have entred into the Account of it ; but whoever lives but a few Years , will find them ( if some other Methods are not taken to prevent it ) like a Canker , which will eat up the Gentlemens Estates in Land , and beggar the Trading Part of the Nation , and bring all the Subjects in England to be the monied Mens Vassals . Some probably may think I am for destroying the Settlements made on those Funds wherein the Parliament have been pleased to invest the several Contributors with a Property : whereas I am not for destroying them , but for preventing their destroying others ; and am content that they continue till Time wears them out , so that a Stop be put to the raising more Money after the like manner , so pernicious to the whole Nation : and therefore I hope none need to be offended if I lay before the Great Council of the Kingdom the many Evils that of Necessity do and will attend the great Encouragements given those who advanced Money on the said Funds , which are already too visible : nor that it will be look'd upon as a Presumption in me , if I humbly propose to their great Judgments other Methods of raising Money for the future ; so far from being grievous , that they will be for the Ease , Satisfaction , and Advantage of the Subject . It is likely that some may wonder that the Parliament should pass the said Acts , seeing they ever had a very great Regard to keep up the Value of their Lands , and for the sake of which they were pleased to prohibit the importing of Irish Cattel , which ( some are of Opinion ) was no small Advantage to the trading Part of the Nation ; whereas ( if it be well examin'd ) it will appear that the Encouragement given to Persons to advance Money on the said Funds , will be more ruinous to Gentlemens Estates , than would have been the bringing in Irish Cattel for a thousand Years ; and will certainly ( if not remedied ) bring Lands to less than fourteen Years Purchase ; Land-Security ( formerly reputed the best Fund or Security in the Nation ) being now disregarded , and Gentlemen of Estates , how great soever are their Necessities , cannot without very great Difficulty raise Money on Land-Security ; while some Mens Bills , on a less substantial Fund , pass currant in Payment as so much Money . What may be said to solve this Riddle is , That there was a Necessity for Money to carry on the War , and no better way was then thought of for raising it , and the Parliament chose rather to supply their Majesties by giving Encouragement to all those who would advance Money on the said Funds , though thereby they impaired the Value of their own Estates , than to subject their Lives , Liberties , Religion , and all that is dearest to them , to the Will of the French Monarch : however I am not without Hopes , if the Methods I have laid down shall be approved of , and put in Practice , that it will set us all again upon a right Basis ; their Majesties will be enabled to carry on the War with a yet greater Vigour than ever , being so plentifully supplied with Money ; the Subjects will be easy under their Taxes ; Trade will encrease and flourish ; the Value of Lands will be inhanced , and ( what may seem at first a Paradox ) the more Money any Persons shall advance to their Majesties , the more they will have ; and the longer the War shall continue , the richer will be the Subject . I am not unsensible that by my writing on this Subject I shall create my self many Enemies , such who propose to raise their Estates by making Merchandize of the Government , and who care not if they hazard the Kingdom , or ruin their Fellow-Subjects , so they can enrich themselves . I doubt not in the least but there are very many who have advanced Money on the late Funds , who are Persons of publick Spirits ; and if their Majesties can be supplied with Money a better way , and the Subject eased , they will be as forward as any to encourage it . And this Method I have proposed will not only supply their Majesties , and ease the Subject , but it will enable all the Nobility , Gentry , and others in the Kingdom , who have any Encumbrances upon their Estates , ( and who are even ground to pieces between their Creditors and the Taxes ) to clear their Estates , to raise Portions for their Children , and to lend their Majesties Money at easy Interest : And as it lies in the Parliament's Power to help all the Freeholders in the Kingdom who are under any pinching Straits or Exigencies , so Providence seems to concur in their Deliverance , in making it the very Interest of the whole Nation to relieve them . ALL Kingdoms and States being more or less opulent and potent , as Trade and Industry is promoted and encouraged by them ; and no Nation being better situated for Trade than this Kingdom of England , it is certain that nothing can hinder our being the most flourishing People in the Universe , if our own Endeavours are not wanting to promote it . Trade therefore being the only Medium whereby Riches can be conveyed to us , we ought to exert the utmost of our Abilities to encourage it , and to take care that nothing be done which may prove injurious , much less destructive to it . Now there having been greater Sums of Money required to carry on the War against France , than could be raised on Lands , Houses , Personal Estates , Poll-Money , &c. the Parliament have been necessitated ( for the enabling their Majesties to prosecute the same ) to raise Money by such new Methods as they thought would be least burdensom to Trade , and most easy to the Subject , such as are the Funds of the Million-Act , Lottery-Act , and Bank of England ; but though the Duties upon which such Funds are settled may not be very prejudicial to Trade , yet it is to be feared that the great Encouragement given to those who advanced Money on these Funds will be very detrimental to Trade , and injurious to the greatest Part of the Nation . And because it may be reasonably supposed that those who have tasted the Sweetness of high Interest , and other the like Advantages , will endeavour the next Sessions of Parliament to promote the raising more Money by the same Methods ; I think my self obliged in Duty to their Majesties , and for the preserving many Gentlemen and poor industrious Traders and their Families from Ruin , occasion'd by the Scarcity of Money and high Interest , to represent the many Evils that will unavoidably ensue the great Encouragements given such who advanced Money on the late Funds , and then humbly to propose Ways by which the Parliament ( if they shall think fit ) may not only plentifully supply their Majesties with Money , but how they may enrich the Subjects , by the very Taxes which shall be raised upon them . But before I enter upon it , it may not be improper to make some few Remarks upon the aforesaid Acts. The Million-Act settles a Fund for ninety nine Years , to pay an hundred Thousand Pound per annum , for the first seven Years , and seventy Thousand Pound per annum for the Residue of the ninety nine Years , free of all Taxes , to the Contributors of a Million of Money , or their Nominees , with Benefit of Survivorship , until there shall be but seven Nominees living , after which there shall be no more Benefit of Survivorship ; but upon the Death of any of the said Nominees , such Nominees seventh Part shall revert to their Majesties , their Heirs or Successors : but in case the whole Million of Money were not advanced before the first Day of May , 1693. upon Survivorship , then any Person after the said first Day of May , until the twenty ninth Day of September following , should have fourteen Pound per Cent. per annum , free of all Taxes for every hundred Pound paid in by him or her during the Life of such Nominee . The Lottery-Act settles a Fund to pay an hundred and forty Thousand Pound per annum , free of all Taxes to the Contributors of one Million of Money for sixteen Years , to be divided among them according to their several Lots or Adventures . The Act for the Bank of England settles a Fund to pay an hundred Thousand Pounds per annum for ever , free of all Taxes , to the Subscribers of twelve hundred Thousand Pound , with this Reservation , that if the twelve hundred Thousand Pound shall be repaid them at any time after the first Day of August , Anno Dom. 1705. the yearly Payments of one hundred Thousand Pounds per annum , from thence forward shall cease and determine . Now that it may appear upon what Disadvantages to the Nation their Majesties are supplied with Money on these Funds , I have hereunto subjoined exact Tables , calculated ( for the more Exactness ) to the 20 th part of a Farthing , showing in what term of Years the several Contributors or Adventurers will be repaid their whole Principal , and Interest , with Interest upon Interest , after the rate of five Pound per Cent. per annum , on which Terms any Man might have had Money upon good Security , before this unhappy way of raising Money on these Funds took place ; and also how much the Nation must pay over and above after they shall have fully paid and satisfied the advanced Money , and Interest , and Interest upon Interest . And herein I have no Regard to what any particular Person may receive , by reason of Survivorship , or as fortunate or unfortunate , but only what the Nation ( bona fide ) must pay , among all those who advanced their Money on the said Funds : And as I have computed the advanced Money at five Pound per cent . per annum Interest , with Interest upon Interest ; so I have cast up the Money payable yearly out of these Funds , at five Pound per cent . per annum Interest , with Interest upon Interest , but with this Advantage to the Contributors , that although their Majesties pay the Money , arising by some of these Funds weekly , I have cast it up as if it was paid to the Contributors at every Year's End only , as will more plainly appear upon Examination of the following Tables . A TABLE of the Million-Act . Paid their Majesties by the Contributors . Years . Annual Fund paid to the Contributors . l. s. d. q. 20 1000000         50000           l. s. d. q. 20 l. s. d. q. 20 1050000         52500         1 l. s. d. q. 20 100000         5000         100000         l. s. d. q. 20 1102500         55125         2 l. s. d. q. 20 205000         10250         100000         l. s. d. q. 20 1157625         57881 05 00 0 00 3 l. s. d. q. 20 315250         15762 10 00 0 00 100000         l. s. d. q. 20 1215506 05 00 0 00 60775 06 03 0 00 4 l. s. d. q. 20 43●012 10 00 0 00 2●530 1● 06 0 00 100000         l. s. d. q. 20 1276●81 11 03 0 00 63814 01 06 3 00 5 l. s. d. q. 20 55●56● 02 06 0 00 ●●628 03 01 2 00 100000         l. s. d. q. 20 13400●● 12 09 ● ●● 67004 ●● 07 2 ●5 6 l. s. d. q. 20 680191 05 ●● 2 00 34009 11 ●● ● ●● 100000         l. s. d. q. 20 1407100 08 05 1 15 703●5 00 05 0 05 7 l. s. d. q. 20 814200 16 10 3 10 40710 00 10 0 11 70000         l. s. d. q. 20 1477455 08 10 2 00 73872 15 05 1 00 8 l. s. d. q. 20 924910 17 09 0 01 46145 10 10 2 12 70000         l. s. d. q. 20 1551328 04 03 3 06 77566 08 02 2 07 9 l. s. d. q. 20 1041156 08 07 2 13 52037 16 05 0 14 70000         l. s. d. q. 20 162889● 12 06 1 13 814●4 14 07 2 01 10 l. s. d. q. 20 1163214 05 00 3 07 ●8160 14 03 0 03 70000         l. s. d. q. 20 17●●●39 07 01 ● 14 8●●●6 19 04 1 03 11 l. s. d. q. 20 1291374 19 03 3 1● 64568 14 11 2 07 70000         l. s. d. q. 20 1795856 06 06 0 17 89792 16 03 3 12 12 l. s. d. q. 20 14●59●3 14 03 1 17 71297 03 08 2 0● 70000         l. s. d. q. 20 188●64● 02 10 0 0● 9●●●● 09 01 2 16 13 l. s. d. q. 20 1567240 18 00 0 0● 7●362 00 10 3 04 70000         l. s. d. q. 20 1979931 11 11 3 05 98996 11 07 0 15 14 l. s. d. q. 20 1715602 18 10 3 06 85780 02 11 1 07 70000         l. s. d. q. 20 2078928 03 07 0 00 103946 08 02 0 12 15 l. s. d. q. 20 1871383 01 10 0 13 93569 03 01 0 08 70000         l. s. d. q. 20 2182874 11 09 0 12 109143 14 07 0 04 16 l. s. d. q. 20 2034952 04 11 1 01 101747 12 02 3 17 70000         l. s. d. q. 20 2192018 06 04 0 10 114600 18 03 3 04 17 l. s. d. q. 20 2206699 17 02 0 18 110334 19 10 1 04 70000         l. s. d. q. 20 2406619 04 08 0 00 120330 19 02 3 04 18 l. s. d. q. 20 2387034 17 00 2 02 119351 14 10 0 18 70000         l. s. d. q. 20 2526950 03 10 3 04 126347 10 02 1 07 19 l. s. d. q. 20 2576386 11 10 3 00 128819 06 07 0 11 70000         l. s. d. q. 20 2653297 14 01 0 1 132664 27 08 1 10 20 l. s. d. q. 20 2775205 18 05 3 11 138760 05 11 0 07 70000         l. s. d. q. 20 2785962 11 09 2 07 139298 02 07 0 06 21 l. s. d. q. 20 2983966 04 04 3 18 149198 06 02 2 11 70000         l. s. d. q. 20 2925260 14 04 2 13 146263 00 08 2 10 22 l. s. d. q. 20 3203164 10 07 2 09 160158 04 06 1 10 70000         l. s. d. q. 20 3071523 15 01 1 03 153576 03 09 0 05 23 l. s. d. q. 20 3433322 15 01 3 19 171666 02 09 0 07 70000         l. s. d. q. 20 3225099 18 10 1 08 161254 19 11 1 05 24 l. s. d. q. 20 3674988 17 11 0 06 183749 08 10 3 00 70000         l. s. d. q. 20 3386354 18 09 2 13 169317 14 11 1 02 25 l. s. d. q. 20 3928738 06 09 3 06 196436 18 04 0 07 70000         l. s. d. q. 20 3555672 13 08 3 15 177783 12 08 0 19 26 l. s. d. q. 20 4195175 05 01 3 13 209758 15 03 0 07 70000         l. s. d. q. 20 3733456 06 05 0 14 186672 16 03 3 08 27 l. s. d. q. 20 4474934 00 05 0 00 203736 14 00 1 00 70000         l. s. d. q. 20 3920129 02 09 0 02 196006 09 01 2 12 28 l. s. d. q. 20 4768680 14 05 1 00 238434 00 08 2 13 70000         l. s. d. q. 20 4116135 11 10 2 14 205806 15 07 0 10 29 l. s. d. q. 20 5077114 15 01 3 1 253855 14 09 0 0● 70000         l. s. d. q. 20 4321942 07 05 3 04 216097 02 04 1 19 30 l. s. d. q. 20 5400970 09 11 0 00 270048 10 05 3 1● 70000         l. s. d. q. 20 4538039 09 10 1 03 226901 19 05 3 13 31 l. s. d. q. 20 5741019 00 04 3 16 287050 19 00 0 19 70000         l. s. d. q. 20 4764941 09 04 0 16 238247 01 05 2 08 32 l. s. d. q. 20 6098069 19 05 0 15 304903 09 11 2 12 70000         l. s. d. q. 20 5003188 10 09 3 04 250159 08 06 1 19 33 l. s. d. q. 20 6472973 09 04 3 07 323648 13 05 2 11 70000         l. s. d. q. 20 5253347 19 04 1 03 262667 07 11 2 09 34 l. s. d. q. 20 6866622 02 10 1 18 343331 02 01 2 17 70000         l. s. d. q. 20 5516015 07 03 3 12 275800 15 04 1 11 35 l. s. d. q. 20 7●79953 05 00 0 15 263997 13 03 0 00 70000         l. s. d. q. 20 5791816 02 08 1 03 289590 16 01 2 09 36 l. s. d. q. 20 7713950 18 03 0 15 385697 10 10 3 16 70000         l. s. d. q. 20 6081406 18 09 3 12 304070 06 11 1 03 37 l. s. d. q. 20 8169648 09 02 0 11 408482 08 05 2 00 70000         l. s. d. q. 20 6385477 05 09 0 15 319273 17 03 1 16 38 l. s. d. q. 20 864●130 17 07 2 11 432406 10 10 2 06 70000         l. s. d. q. 20 6704751 03 00 2 11 335237 11 01 3 06 39 l. s. d. q. 20 9150517 08 06 0 17 457526 17 05 0 08 70000         l. s. d. q. 20 7039988 14 02 1 17 351999 08 08 2 01 40 l. s. d. q. 20 9678064 05 11 1 05 483903 04 03 2 05 70000         l. s. d. q. 20 7391988 02 10 3 18 369599 08 01 2 19 41 l. s. d. q. 20 10231967 10 02 3 10 511598 07 06 0 11 70000         l. s. d. q. 20 7761587 11 00 2 17 388079 07 06 2 10 42 l. s. d. q. 20 10813565 17 09 0 01 540678 05 10 2 12 70000         l. s. d. q. 20 8149666 18 07 1 07 407483 06 11 0 13 43 l. s. d. q. 20 11424244 03 07 2 13 571212 04 02 0 14 70000         l. s. d. q. 20 8557150 05 06 02 00 427857 10 03 1 06 44 l. s. d. q. 20 12065456 07 09 3 07 603272 16 04 2 15 70000         l. s. d. q. 20 8985007 15 09 3 06 449250 07 09 1 19 45 l. s. d. q. 20 12738729 04 02 3 02 636936 09 02 2 02 70000         l. s. d. q. 20 9434258 03 07 1 05 471712 18 02 0 13 46 l. s. d. q. 20 13445665 13 05 0 00 672283 05 05 0 0● 70000         l. s. d. q. 20 9905971 01 09 1 18 495298 11 01 0 05 47 l. s. d. q. 20 14187938 19 01 0 0● 709197 08 11 1 1● 70000         l. s. d. q. 20 10401269 12 10 2 03 520063 09 07 2 18 48 l. s. d. q. 20 14967346 08 02 2 04 748367 06 04 3 0● 70000         l. s. d. q. 20 10921333 02 06 1 01 546066 13 01 2 01 49 l. s. d. q. 20 1578●●●● 14 05 1 10 789285 13 08 2 1● 70000         l. s. d. q. 20 11467399 15 07 3 02 573369 19 09 1 11 50 l. s. d. q. 20 16644999 08 02 0 03 832249 19 04 3 12 70000         l. s. d. q. 20 12040769 15 05 0 13 602038 09 09 1 00 51 l. s. d. q. 20 17547249 07 06 3 15 877362 09 04 2 03 70000         l. s. d. q. 20 12642808 05 02 1 13 632140 08 03 0 09 52 l. s. d. q. 20 18494611 16 11 1 18 924730 11 10 0 13 70000         l. s. d. q. 20 13274948 13 05 2 02 663747 08 08 0 06 53 l. s. d. q. 20 19489342 08 09 2 11 974467 02 05 1 02 70000         l. s. d. q. 20 13938696 02 01 2 08 696934 16 01 1 02 54 l. s. d. q. 20 20533809 11 02 3 13 1026690 09 06 2 19 70000         l. s. d. q. 20 14635630 18 02 3 10 731781 10 10 3 15 55 l. s. d. q. 20 21630500 00 09 2 12 1081525 00 00 1 18 70000         l. s. d. q. 20 15367412 09 01 3 05 768370 12 05 1 19 56 l. s. d. q. 20 22782025 00 10 0 10 1139101 05 00 2 00 70000         l. s. d. q. 20 16135783 01 07 1 04 806789 03 00 3 17 57 l. s. d. q. 20 23991126 05 10 2 10 1199556 06 03 2 02 70000         l. s. d. q. 20 16942572 04 08 1 01 847128 12 02 3 05 58 l. s. d. q. 20 25260682 12 02 0 12 1263034 02 07 1 04 70000         l. s. d. q. 20 17789700 16 11 0 06 889485 00 10 0 12 59 l. s. d. q. 20 26593716 14 09 1 16 1329685 16 08 3 09 70000         l. s. d. q. 20 18679185 17 09 0 18 60 l. s. d. q. 20 27993402 11 06 1 05 The Table of the Lottery-Act . Paid their Majesties by the Contributors . Year . Annual Fund paid to the Contributors . l. s. d. q. 20 1000000         50000           l. s. d. q. 20 l. s. d. q. 20 1050000         52500         1 l. s. d. q. 20 140000         7000         140000         l. s. d. q. 20 1102500         55125         2 l. s. d. q. 20 287000         14350         140000         l. s. d. q. 20 1157625         57881 05       3 l. s. d. q. 20 441350         22067 10       140000         l. s. d. q. 20 1215506 05       60775 06 03     4 l. s. d. q. 20 603417 10       30170 17 06     140000         l. s. d. q. 20 1276281 11 03     63814 01 06 3   5 l. s. d. q. 20 773588 07 06     38679 08 04 2   140000         l. s. d. q. 20 1340095 12 09 3 00 67004 15 07 2 15 6 l. s. d. q. 20 952267 15 10 2   47613 07 09 2 02 140000         l. s. d. q. 20 1407100 08 05 1 15 70355 00 05 0 05 7 l. s. d. q. 20 1139881 03 08 0 02 56994 01 02 0 16 140000         l. s. d. q. 20 1477455 08 10 2 00 73872 15 05 1 06 8 l. s. d. q. 20 1336875 04 10 0 18 66843 15 02 3 12 140000         l. s. d. q. 20 1551328 04 03 3 06 77566 08 02 2 07 9 l. s. d. q. 20 1543719 00 01 0 10 77185 19 00 0 04 140000         l. s. d. q. 20 1628894 12 06 1 13 81444 14 07 2 01 10 l. s. d. q. 20 1760904 19 01 0 14 88045 04 11 1 16 140000         l. s. d. q. 20 1710339 07 01 3 14 85516 19 04 1 03 11 l. s. d. q. 20 1988950 04 00 2 10 99447 10 02 1 14 140000         l. s. d. q. 20 1795856 06 06 0 17 89792 16 03 3 12 12 l. s. d. q. 20 2228397 14 03 0 04 111419 17 08 2 04 140000         l. s. d. q. 20 1885649 02 10 0 09 94282 09 01 2 16 13 l. s. d. q. 20 2479817 11 11 2 08 123990 17 07 0 14 140000         l. s. d. q. 20 1979931 11 11 3 0● 98996 11 07 0 15 14 l. s. d. q. 20 2743808 09 06 3 02 137190 08 05 2 19 140000         l. s. d. q. 20 2078928 03 07 0 00 103946 08 02 0 12 15 l. s. d. q. 20 3020998 18 00 2 01 151049 18 10 3 04 140000         l. s. d. q. 20 2182874 11 09 0 12 16 l. s. d. q. 20 3312048 16 11 1 05 The Table of the Bank of England . Paid their Majesties by the Contributors . Years . Annual Fund paid to the Contributors . l. s. d. q. 20 1200000         60000           l. s. d. q. 20 l. s. d. q. 20 1260000         63000         1 l. s. d. q. 20 100000         5000         100000         l. s. d. q. 20 1323000         66150         2 l. s. d. q. 20 205000         10250         100000         l. s. d. q. 20 1389150         69457 10         3 l. s. d. q. 20 315250         15762 10       100000         l. s. d. q. 20 1458607 10       72930 07 06     4 l. s. d. q. 20 431012 10       21550 12 06     100000         l. s. d. q. 20 1531537 17 06     76576 17 10 2   5 l. s. d. q. 20 552563 02 06     27628 03 01 2   100000         l. s. d. q. 20 1608114 15 04 2   80405 14 09 0 18 6 l. s. d. q. 20 680191 05 07 2   34009 11 03 1 10 100000         l. s. d. q. 20 1688520 10 01 2 18 84426 00 06 0 06 7 l. s. d. q. 20 814200 16 10 3 10 40710   10 0 11 100000         l. s. d. q. 20 1772946 10 07 3 04 88647 06 06 1 11 8 l. s. d. q. 20 954910 17 09 0 01 47745 10 10 2 12 100000         l. s. d. q. 20 1861593 17 02 0 15 93079 13 10 1 04 9 l. s. d. q. 20 1102656 08 07 2 13 55132 16 05 0 14 100000         l. s. d. q. 20 1954673 11 00 1 19 97733 13 06 2 09 10 l. s. d. q. 20 1257789 05 00 3 07 62889 09 03 0 03 100000         l. s. d. q. 20 2052407 04 07 0 08 102620 07 02 3 00 11 l. s. d. q. 20 1420678 14 03 3 10 71033 18 08 2 07 100000         l. s. d. q. 20 2155027 11 09 3 08 107751 07 07 0 07 12 l. s. d. q. 20 1591712 13 00 1 17 79585 12 07 3 05 100000         l. s. d. q. 20 2262778 19 04 3 15 113138 18 11 2 11 13 l. s. d. q. 20 1771298 05 08 1 02 88564 18 03 1 13 100000         l. s. d. q. 20 2375917 18 04 2 06 118795 17 11 0 02 14 l. s. d. q. 20 1959863 03 11 2 15 97993 03 02 1 10 100000         l. s. d. q. 20 2494713 16 03 2 08 124735 13 09 3 02 15 l. s. d. q. 20 2157856 07 02 0 05 107892 16 04 1 04 100000         l. s. d. q. 20 2619449 10 01 1 10 130972 09 06 0 05 16 l. s. d. q. 20 2365749 03 06 1 09 118287 09 02 0 09 100000         l. s. d. q. 20 2750421 19 07 1 15 137521 01 11 3 01 17 l. s. d. q. 20 2584036 12 08 1 18 129201 16 07 2 09 100000         l. s. d. q. 20 2887943 01 07 0 16 144397 03 00 3 16 18 l. s. d. q. 20 2813238 09 04 0 07 140661 18 05 2 08 100000         l. s. d. q. 20 3032340 04 08 0 12 151617 00 02 3 04 19 l. s. d. q. 20 3053900 07 09 2 15 152695 00 04 2 14 100000         l. s. d. q. 20 3183957 04 10 3 16 159197 17 02 3 15 20 l. s. d. q. 20 3306595 08 02 1 09 165329 15 04 3 13 100000         l. s. d. q. 20 3343155 02 01 3 11 167157 15 01 1 03 21 l. s. d. q. 20 3571925 03 07 1 02 178596 05 02 0 13 100000         l. s. d. q. 20 3510312 17 03 0 14 175515 12 10 1 08 22 l. s. d. q. 20 3850521 08 09 1 15 192526 01 05 1 01 100000         l. s. d. q. 20 3685828 10 01 2 02 184291 08 06 0 06 23 l. s. d. q. 20 4143047 10 02 2 16 207152 07 06 0 10 100000         l. s. d. q. 20 3870119 18 07 2 08 193505 19 11 0 14 24 l. s. d. q. 20 4450199 17 08 3 06 222509 19 10 2 11 100000         l. s. d. q. 20 4063625 18 06 3 02 203181 05 11 0 11 25 l. s. d. q. 20 4772709 17 07 1 17 238635 09 10 2 05 100000         l. s. d. q. 20 4266807 04 05 3 13 213340 07 02 2 15 26 l. s. d. q. 20 5111345 07 06 0 02 255567 05 04 2 00 100000         l. s. d. q. 20 4480147 11 08 2 08 224007 07 07 0 02 27 l. s. d. q. 20 5466912 12 10 2 02 273345 12 07 2 18 100000         l. s. d. q. 20 4704154 19 03 2 10 235207 14 11 2 06 28 l. s. d. q. 20 5840258 05 06 1 00 292012 18 03 1 05 100000         l. s. d. q. 20 4939362 14 03 0 16 246968 02 08 2 04 29 l. s. d. q. 20 6232271 03 09 2 05 311613 11 02 1 2 100000         l. s. d. q. 20 5186330 16 11 3 00 259316 10 10 0 15 30 l. s. d. q. 20 6643884 14 11 3 07 332194 04 08 3 19 100000         l. s. d. q. 20 5445647 07 09 3 15 272282 07 04 2 15 31 l. s. d. q. 20 7076078 19 08 3 06 353803 18 11 3 07 100000         l. s. d. q. 20 5717929 15 02 2 10 285896 09 09 0 10 32 l. s. d. q. 20 7529882 18 08 2 13 376494 02 11 0 18 100000         l. s. d. q. 20 6003826 04 11 3 00 300191 06 02 3 19 33 l. s. d. q. 20 8006377 01 07 3 11 400318 17 00 3 19 100000         l. s. d. q. 20 6304017 11 02 2 19 315200 17 06 2 18 34 l. s. d. q. 20 8506695 18 08 3 10 425334 15 11 0 19 100000         l. s. d. q. 20 6619218 08 09 1 17 330960 18 05 1 01 35 l. s. d. q. 20 9032030 14 08 0 09 451601 10 08 3 04 100000         l. s. d. q. 20 6950179 07 02 2 18 347508 19 04 1 06 36 l. s. d. q. 20 9583632 05 04 3 13 479181 12 03 0 19 100000         l. s. d. q. 20 7297688 06 07 0 04 364884 08 03 3 16 37 l. s. d. q. 20 10162813 17 08 0 12 508140 13 10 2 08 100000         l. s. d. q. 20 7662572 14 11 0 00 383128 12 08 3 16 38 l. s. d. q. 20 10770954 11 06 3 00 538547 14 06 3 15 100000         l. s. d. q. 20 8045701 07 07 3 16 402285 01 04 2 07 39 l. s. d. q. 20 11409502 06 01 2 15 570475 02 03 2 14 100000         l. s. d. q. 20 8447986 09 00 2 03 422399 06 05 1 14 40 l. s. d. q. 20 12079977 08 05 1 09 603998 17 05 0 05 100000         l. s. d. q. 20 8870385 15 05 3 17 443519 05 09 1 03 41 l. s. d. q. 20 12783976 05 10 1 14 639198 16 03 2 01 100000         l. s. d. q. 20 9313905 01 03 1 00 465695 05 00 3 01 42 l. s. d. q. 20 13523175 02 01 3 15 676158 15 01 1 03 100000         l. s. d. q. 20 9779600 06 04 0 01 488980 00 03 3 04 43 l. s. d. q. 20 14299333 17 03 0 18 714966 13 10 1 08 100000         l. s. d. q. 20 10268580 06 07 3 05 513429 00 03 3 19 44 l. s. d. q. 20 15114300 11 01 2 06 755715 00 06 2 14 100000         l. s. d. q. 20 10782009 06 11 3 04 539100 09 04 0 15 45 l. s. d. q. 20 15970015 11 08 1 00 798500 15 07 0 01 100000         l. s. d. q. 20 11321109 16 03 3 19 566055 09 09 3 03 46 l. s. d. q. 20 16868516 07 03 1 01 843425 16 04 1 09 100000         l. s. d. q. 20 11887165 06 01 3 02 594358 05 03 2 15 47 l. s. d. q. 20 17811942 03 07 2 10 890597 02 02 0 14 100000         l. s. d. q. 20 12481523 11 05 1 17 624076 03 06 3 09 48 l. s. d. q. 20 18802539 05 09 3 04 940126 19 03 1 19 100000         l. s. d. q. 20 13105599 15 00 1 06 655279 19 09 0 01 49 l. s. d. q. 20 19842666 05 01 1 03 992133 06 03 0 05 100000         l. s. d. q. 20 13760879 14 09 1 07 688043 19 08 3 09 50 l. s. d. q. 20 20934799 11 04 1 08 1046739 19 06 3 05 100000         l. s. d. q. 20 14448923 14 06 0 16 722446 03 08 2 16 51 l. s. d. q. 20 22081539 10 11 0 13 1104076 19 06 2 04 100000         l. s. d. q. 20 15171369 18 02 03 12 758568 09 10 03 15 52 l. s. d. q. 20 23285616 10 05 2 17 1164280 16 06 1 02 100000         l. s. d. q. 20 15929938 08 01 3 07 796496 18 04 3 11 53 l. s. d. q. 20 24549897 06 11 3 19 1227494 17 04 0 15 100000         l. s. d. q. 20 16726435 06 06 2 18 836321 15 03 3 14 54 l. s. d. q. 20 25877392 04 04 0 14 1293869 12 02 2 08 100000         l. s. d. q. 20 17562757 01 10 2 12 878137 17 01 0 10 55 l. s. d. q. 20 27271261 16 06 3 0● 1363563 01 09 3 15 100000         l. s. d. q. 20 18440894 18 11 3 02 922044 14 11 1 11 56 l. s. d. q. 20 28734824 18 04 2 17 1436741 04 11 0 02 100000         l. s. d. q. 20 19362939 13 11 0 13 968146 19 08 1 08 57 l. s. d. q. 20 30271566 03 03 2 19 1513578 06 01 3 18 100000         l. s. d. q. 20 20331086 13 07 2 01 1016554 06 08 0 14 58 l. s. d. q. 20 31885144 09 05 2 17 1594257 04 05 2 14 100000         l. s. d. q. 20 21347641 00 03 2 15 1067382 01 00 0 14 59 l. s. d. q. 20 33579401 13 11 1 11 1678970 01 08 1 09 100000         l. s. d. q. 20 22415023 01 03 3 09 60 l. s. d. q. 20 35358371 15 07 3 00 To apply the said Tables to my present Purpose . Had the Million-Act been fill'd up with Annuities , and admitting that upon each Nominee's Life , one with another , there had been 500 l. advanced , there would have been in the whole 2000 Nominees , among whom ( supposing there were several Children and young People ) it is very probable that 7 of the 2000 Nominees would be living sixty Years after the Commencement of the Act ; and so long as seven shall be living , the whole yearly Fund of seventy thousand Pounds per annum must be paid to the Survivors . Now the whole Million advanced , and Interest , with Interest upon Interest , being over-paid ( as appears in the Table ) in 19 Years , the Nation must pay 70000 l. per annum to the Survivors , for 41 Years after the Principal and Interest , and Interest upon Interest shall be paid , which comes to 9314216 l. 13 s. 9 d. The Annuity on the Lottery-Act is not so disadvantageous to the Nation , because it is of a shorter Continuance ; yet the whole Million advanced being paid in about nine Years time , with Interest , and Interest upon Interest , the 140000 l. per annum must notwithstanding be continued to be paid for seven Years longer , after the Contributors shall be repaid the whole advanced Million , with Interest , and Interest upon Interest , as aforesaid , which amounts to 1129174 l. 5 s. 2 d. so much being given for an Encouragement to advance one Million of Money for 16 Years . The Bank of England ( if not redeemed by Parliament at the 11 Years end ) will be the most detrimental of all the three , as hereafter will more plainly appear : For supposing the Contributors to the Bank should pay the whole 1200000 Pounds they have subscribed in to the Bank , they will be repaid the whole 1200000 l. and Interest , with Interest upon Interest , in less than nineteen Years , and then the Nation must notwithstanding pay them 100000 l. per annum for ever , although the full Principal and Interest , with Interest upon Interest , is paid : However , we will suppose it were to terminate at 60 Years End , ( for so far I have traced it ) the Contributors will receive almost 14 Millions more than their Principal and Interest , with Interest upon Interest ; a most prodigious Sum for advancing 1200000 Pounds , besides those many Advantages in discounting Merchants Bills , Exchequer-Tallies , &c. Having thus shewn the Advantages the Contributors will receive for advancing their Money on these Funds , I now come to shew the many Evils that unavoidably attend the raising Money by those Methods . And here I might take notice how the monied Men are enrich'd by the Ruines of the poor and industrious Traders , how Gentlemen ( whose Estates are in Land ) are pressed with Taxes , while the monied Men are in a manner Tax-free ; the Landed-man paying more Taxes to their Majesties out of an Estate of 100 l. per annum , than the monied Men do for 10000 l. in Money , ( what they advance on those Funds being excused from Taxes by Act of Parliament ) notwithstanding they receive more Profit by 1000 Pounds in Money than a Gentleman can receive out of an Estate in Land worth 3000 Pounds , as I doubt not but to make appear . I might also have shown how landed Gentlemen and the poor industrious Tradesmen raise Money not only to carry on the War , but to enrich those who advance Money on these Funds , they having no small Part of the Money raised , as appears by the foregoing Tables . I might also take notice of the extraordinary Advantages given to monied Men ; such as putting a Person into a Capacity for 500 l. or less , to receive from 100 l. per annum , to 10000 l. per annum Annuity , as in the Million-Act ; and for 10 Pounds , to have from 10 Pounds per annum , to 1000 Pounds per annum , as in the Lottery-Act : But I shall wave these , because if this had been all the Grievance , the Evil had been the less , in regard the Nation would have been never the poorer , but only one Subject enrich'd by the Spoils of another ; but I will prove , that this new Method of raising Money endangers the Nation it self , and that in divers Respects . First ; It will most certainly ruine our Trade , without which the Nation cannot long subsist , much less be able to maintain a War. Secondly ; It will be a Means to carry out our Wealth , and thereby will impoverish the Kingdom . Thirdly ; It will ruine many Gentlemen of Estates , and bring Land to 12 or 14 Years Purchase . That these Funds will ruine our Trade , I prove by these Arguments . Whatsoever draws the Money out of Trade , or impairs the Credit of Traders , must necessarily be very injurious , if not destructive to Trade , because no Trade can be managed without Money or Credit : but these Funds do draw the Money out of Trade , and impair the Credit of Traders , and consequently are very injurious , if not destructive to Trade . My first Proposition all Men must grant ; I shall therefore apply my self to prove the second Proposition , viz. That these Funds draw the Money out of Trade , and impair the Credit of Traders . To prove which I shall consider Traders as trading with their own Stocks , or borrowing Money at Interest , to drive their Trades . To begin therefore with such who trade with their own Stocks : Before these Encouragements were given to those who advanced Money on these late Funds , our Merchants , and considerable Traders , if they could get 12 or 14 per cent . per annum clear for every 100 Pounds they had in Stock , were well contented , thinking themselves sufficiently rewarded for their Pains and Industry , not knowing any other way , wherein to employ their Money to the like Advantage : but these late Funds have diverted that Humour , and turn'd their Genius from Trade , quite another way ; for whereas formerly a great Part of their Time was taken up in contriving how to improve their Money to the best Advantage in the way of their Trade , and to provide for their Families , by an honest Industry ; now almost their whole Discourse is of Lottery-Tickets , Annuities , Bank-Bills , &c. and in contriving how they may draw their Money out of Trade , to put it in upon some of these late Funds , upon the Prospect of the great Advantages they are capable of receiving thereby , beyond what they can expect to gain by their Trade , and that also free from Taxes . Now although their Majesties have been supplied with Money by these Means , yet the greatest Part of the Money so advanced being drawn out of Trade , must necessarily impair and lessen the Trade of the Nation , for want of sufficient Stock to carry it on : which will more plainly appear , if we cast our Eye upon the poor industrious Traders , who not having Stock enough of their own , wherewith to drive their Trades , having been forc'd to borrow Money at Interest , to supply that Defect ; their Creditors who formerly ( not being able otherwise to dispose of their Money ) courted them to take their Money at easy Interest , knowing them to be Honest and Careful in their Business ; now call in their Money , alledging they can make 10 , 15 , or 20 l. per Cent. per annum , by lending it to the Government , or by paying it in upon these Funds : which sudden Demands , the poor Tradesmen being unable to comply with , they are forc'd to pacify their Creditors , with Promises of larger Interest . But the poor Men , not being able to drive their Trades on such disadvantageous Terms , and to provide for their Families , are forc'd to leave off their Trades , and get in their Money to pay off their Creditors , and betake themselves to some other Employments for their Livelyhoods , or else they sink under their Burdens , being no longer able to bear the Pressures of them . I come now to show how Injurious these Funds are to our Foreign Trade , the Preservation whereof is of no small Import to the Nation ; for that being once Lost , is not easily Regained : and that these Funds are Injurious to our Foreign Trade , I prove by these Arguments . Those Merchants who can sell their Commodities cheapest at any Foreign Markets , may Engross to themselves the Trade of those Foreign Parts ; those who pay a less Interest for Money , as supposing 3 or 4 per Cent. per Annum , can sell their Commodities cheaper , than those who pay a greater Interest , viz. 8 or 10 per Cent. per Annum : but some of our Neighbours pay no more than 3 or 4 per Cent. per Annum for Interest , and our English Merchants must pay 8 or 10 per Cent. per Annum for Interest ; and consequently those our Neighbours may Engross to themselves the Trade of those Foreign Parts . The Truth of these Propositions are so obvious , that I need not bring any Proof to corroborate them , but I shall only illustrate them by one plain Instance , viz. I suppose none will deny , that Interest of Money in Holland , is not above 3 , or at highest 4 per Cent. per Annum , and any Dutch Merchants may have what Money they please on those Terms ; now how is it possible for our English Merchants , who must pay almost 3 times the Interest for Money , to sell their Commodities so cheap as the Dutch Merchants ? for suppose a Dutch Merchant takes up Money at Interest , and therewith trades to Turkey , or to any other Part , where our English Merchants trade , if the Dutch Merchant makes 20 or 25 per Cent. Profit of his Money , and hath his Returns in a Year or t●● he is well satisfied with his Gain , and continues on his Trade , having 12 or 14 or 16 per Cent. Profit , more than his Interest ; but if our English Merchant makes but 20 or 25 per Cent. Profit in the like time , the great Interest he must pay , will swallow up almost his whole Profit , leaving him little or nothing for his Adventure . Now this in process of Time , will dishearten our Merchants , discourage Navigation , ruin our Trade , and will leave it in the Hand of those who can trade with less Disadvantages than we can , and who having once got the Trade in their Hand , will not easily part with it . Object . If any Object , that there is not such scarcity of Money among Merchants , or Traders , as I have set forth ; neither do they give such high Interest for Money as 8 or 10 per Cent. per Annum . Answ . I Answer , the scarcity of Money , and the great Complaints of all sorts of Traders for want of Money , ( since it hath been drawn out of Trade , to advance on the late Funds ) is a Truth too well known , to be denied ; and that our Merchants , and other Traders , must pay 8 or 10 per Cent. per Annum Interest for Money ( if they want it ) is as demonstrable ; for admit a Trader must take up Money at Interest , can it be reasonably supposed , that any Man will lend his Money for 5 or 6 per Cent. per Annum , when he can make 8 or 10 per Cent. per Annum , by advancing it on these Funds ? or can it be thought , that Persons will continue their Money in Tradesmens hands at the usual Interest , when they can have almost double the Interest , by lending it to the Government ; especially when they come to be well satisfied , that what they advance on the said Funds , is safe and secure ? Object . But a great part of the Money was advanced by such who had plenty of Money , and did not employ it in Trade , and not by Tradesmen . Answ . That very many Traders paid in large Sums of Money from 1000 to 10000 l. apiece , cannot be denied by any , who have seen the Lists of the Names of the Contributors to the several Funds ; and the Money advanced by those who had no Trade , was notwithstanding taken out of Trade , as being drawn out of Tradesmens hands , to whom such Money was lent , as hath been already set forth . Object . But many of our Merchants trade with their own Stocks , and have no occasion to take up Money at Interest . Answ . This amounts to one and the same thing ; for if our Merchants can get as much by advancing their Money on these Funds , as they can by Trading abroad , can we think they will be so imprudent , to venture their Estates to Foreign Parts out of their Reach , and subject to so many Risques , as Dishonesty or Insolvency of Factors , hazard of the Sea , and danger of the Enemy ? At the best , it cannot be supposed they will employ so much of their Estates in Trade , as they would have done , had they not had this Opportunity of making such considerable Advantages of their Money at home , by paying it in on these Funds ; and no doubt when they have found the Sweet of it , they will draw the remainder of their Estates out of Trade , in expectation of the like opportunity , if the Parliament shall think fit to raise more Money by the like Methods . I come in the next place to show , that the great Encouragements given to Persons to advance Money on the late Funds , will be a means to carry out our Wealth , and thereby will impoverish the Kingdom . I need not form any Arguments to prove this Assertion : those who know what high Interest is , must acknowledg it is generally destructive to those who pay it , but is a certain Profit to such who receive it ; and there being leave given to all Foreigners to advance Money on the said Funds , and very considerable Sums ( as I have been inform'd ) being remitted from Foreign Parts , and paid in by Foreigners for that purpose , it cannot be expected but the Interest of such Money , must be sent out of the Nation every Year , as it grows due , which in 16 Years , will be above 330 l. for every 100 l. advanced by them on the Lottery Act , and above 3000 l. for every 100 in 60 Years time , for all they pay into the Bank of England ; besides their Parts or Shares in the great Advantages , that will be made by discounting Bills , Exchequer-Tallies , &c. And if that Maxim holds true , as it must and does in this present case , That the Wealth of a Nation is greater or lesser in Proportion , according as its Imports and Exports do more or less exceed each other ; I am sure , the great Sums that must be sent over yearly for the Interest of Money advanced by Foreigners from abroad , must in time beggar the Nation ; since we receive nothing again in return for what is so sent out : and if it be an Evil ( as it really is ) to enrich a few of our own Subjects , by the ruin of the far greater Part , I am sure , à fortiori , it is a much greater Mischief for us to enrich Foreigners by the Spoils of our English Subjects : and therefore whatsoever value any Person may put upon the bringing great Sums of Money into the Nation from abroad ; it is plain it is not for the Nation 's Interest to encourage it . I come now to show , that the great Encouragements given to those who advanced Money on the late Funds , fall no less heavy on Gentlemen whose Estates are in Land , the value of which always bears some proportion with the Interest of Money , these being pincht both ways : for as the Taxes ( necessarily laid on Lands ) make Land less esteemed , and consequently less valuable than formerly ; so this Encouragment given to the Contributors to the late Funds ( which is in effect a creating a new sort of Purchases much more advantageous than Land ) will certainly bring Land to 12 or 14 Years purchase , if not less . For Men will hardly be prevailed with to keep , much less to purchase Estates in Land , by which they cannot have 4 l. per Cent. per Annum for their Money , when they can buy a perpetual Rent-charge on the Crown , ( as in the Bank of England ) which will bring them in above 8 l. per Cent. per Annum , clear of all Taxes , besides the other proposed Advantages . For admit any Person hath 50 l. per Annum Estate in Land , the Taxes of 4 s. in the Pound , Charges for finding Arms , Trophy-Money , &c. swallow up 11 or 12 l. per Annum , by which means the Owner hath not above 38 or 39 l. per Annum at most , clear to himself ; if therefore he sells his Land but at 12 Years purchase , it will yield him 600 l. with which he may purchase 50 l. per Annum in the Bank free of all Taxes , which is 11 or 12 l. per Annum more than he could receive out of his Estate during the War , and as much as his Estate will bring him in in time of Peace , besides his Interest in the aforementioned Advantages . And who will not choose to have the Bank-Bills rather than Land at 20 Years Purchase , if they go current , with 3 l. per cent . per annum Interest ? which is almost as much as his Lands will bring him in ; the Bank-Bills being so much more preferable than Land , as they are always as so much ready Money by a Man to answer any present Occasions ; while the Land , like a Drug , lies on his Hands , upon which he is not able to raise half the Value , unless he sells it out-right , which he cannot do without great Expence of Time and Money , in examining Titles , drawing Conveyances , levying Fines , &c. Far better had it been for the Gentlemen whose Estates are in Land , to have paid half their yearly Incomes in Taxes , since that would have pinch'd them only for the present , during the War ; and by retrenching their Expences , they might have preserv'd their Estates ; which , if notwithstanding they had been necessitated to sell , they might have had as many Years Purchase within a Year or two , as they could have had before the Taxes were laid upon them , the Purchasers knowing these Taxes will not last always . But now perpetual Rent-Charges ( if I may so call them ) being to be bought , so far more advantageous than Land , and the Bank-Bills being so profitable , and ( for the Reasons aforesaid ) more eligible than Land , it cannot be expected if the War were ended , that Land should sell for 18 , much less for 20 Years Purchase , when a Man at the same time may buy a perpetual Income from the Crown , free from Taxes , for 12 Years Purchase . Object . But it may be objected , that there are not any Estates in Land to be sold at such low Rates as 12 or 14 Years Purchase , as hath been suggested . Answ . I grant it , for tho there are many Estates to be sold , and never more than at this time , those who have lent Money upon Gentlemens Estates calling it in to advance upon some of these late Funds ; yet Persons are very loth to part with their Estates at an Undervalue , tho part with them they must , such whose Estates are in Mortgage : and if they cannot sell their Estates for what they would , they must sell them for what they can get , or else must expect to be ejected , or barr'd of the Equity of Redemption . Besides , these Funds being as yet but Novelties , every one is not ready to embarque in them ; but when People once find that when they go to the Exchequer , or to the Bank , they have their Annuities or Interest-Money paid them punctually every half Year , upon Demand , without any farther Trouble or Defalcation for Taxes , it will quickly cause them to disesteem Land , with which they meet with so much Trouble , and upon which are so may Taxes ; and therefore it is not rational to take our Measures from the present Value of Lands , but rather from the Value we may reasonably suppose Lands will come to be sold for , when Gentlemen whose Estates are mortgaged , are under a Force and absolute Necessity of selling their Estates , and when Persons are a little better acquainted with , and reconciled to these new sorts of Purchases . Object . I shall answer one Objection more , no less frivolous than common , viz. That the Money paid in on these Funds will circulate . Answ . I grant it does circulate ; for Money is made to pass from one to another in Payment , but does it circulate into the Tradesman's Stock again , out of which it was taken , so as to enable him to drive as great a Trade as formerly , before he lessen'd his Stock , by advancing his Money upon these Funds ? Is the poor Trader relieved thereby , who was forc'd to draw his Money out of his Trade to satisfy his Creditors ? Is the Gentleman whose Estate is mortgaged , any thing the better for this Circulation ? or is the Interest of Money lower'd thereby ? or does it not rather in time circulate into the Pockets it came out of ? as I have already shown it does . Much might be said of the Bank of England in particular , as they are a Body of Men incorporated by their Majesties , and confirm'd by Parliament . And I cannot but take notice of the prudent Foresight of our Legislators , who wisely provided against the Danger of creating so great a Body , without fit Bounds and Limitations , and did therefore prohibit the Bank , to buy , sell , or trade in any Goods or Merchandize , that so the Subject might not be oppress'd by their monopolizing with their commanding Stock ; but yet I find they are enabled to purchase and enjoy to them and their Successors , Lands , Rents , Tenements and Hereditaments , of what Nature or Quality soever ( Crown-Lands excepted ) without any such Limitation , as is usual in other Charters : and if by the Statute of Mortmain , 15 Rich. 2. all petty Corporations of Cities , Towns , or Boroughs , which have a perpetual Commonalty , were prohibited to purchase Lands , because they have perpetual Succession , I doubt not but the Parliament ( if they shall think fit to continue the Corporation of the Bank for a longer time than eleven Years ) will be pleased to put them under some Limitations , in respect of Purchases . For suppose this Bank have never no other Fund or Revenue settled upon them , upon their advancing more Money to their Majesties , ( which without doubt they have an eye to , and those who enter not into the Account of it , may think it will be no small Advantage to their Majesties and the Kingdom , to have such a Bank ready at any time to assist their Majesties with Money upon any extraordinary occasions ) the Bank ( with the 100000 l. per Annum already settled upon them , if it be continued to them and their Successors for 60 Years ) may divide 5 l. per Cent. per Annum , every Year among them , and may have above fourteen Millions ( being more than all the Money supposed to be in the Kingdom ) in their hands : So that ( in such case ) all Persons must in time come to them for Money if they want it , and must give them what Premium , or Consideration they shall think fit , for the Loan of it ; and being once Masters of the whole Cash of the Nation , what shall hinder them of being ( in time ) Masters of the Land too , since there will be indigent Persons to the End of the World , that will sell their Estates ? And if the Directors of the Bank manage their Business as they may , none else having Money , there can be no Buyers but themselves ; and consequently they may have Gentlemens Estates at their own rates , and will be Masters of the Estates as well as the Cash of the Nation : and what shall hinder them , but they may in time make the Nation it self pay what they please for the Loan of Money , if they shall stand in need of it ? And tho I doubt not , but many may make a Jest of this my Suggestion ; yet nothing is more plain than that it may be so , if they are continued a Corporation for 60 Years , ( the time I have supposed ) against which we have no other Security , but the Gentlemens good Nature , that they will not be so unkind to their Prince , nor so severe to their fellow-Subjects : for if it be granted , that there be not 12 Millions of Money in the Nation ( whereas some compute , that there are not 8 Millions in the Kingdom ) and the Governour and Directors of the Bank are not obliged to make Dividends but when they please , as I do not find by the Act they are , they may have all the Money in the Nation three times over in 60 Years . Obj. But some may say , that all this Business which I make such a Scarecrow of , is but 3 l. per Cent. per Annum extraordinary Interest , paid to such who advance Money to their Majesties ; and the Nation must be in a very sorry Condition , if the paying 3 l. per Cent. per Annum extraordinary Interest , will ruin it . Answ . Those who make a Butt of 3 l. per Cent. per Annum , know not what they say ; they may as well say , it is but 30000 l. per Annum extraordinary for a Million of Money , and that in 60 Years time comes to above 11 Millions , at 5 l. per Cent. per Annum Interest , with Interest upon Interest , upon one Million of Money only ; and what loss must it be then to the Nation , if we should take up many Millions at the same Terms ? And yet this is the least of the Nation 's Loss , for it occasions the loss of our Trade , the ruin of Families , and the destruction of Gentlemens Estates , as hath been already shown : so that nothing is more obvious , than that the raising Money on Funds , by the late Methods , will ruin Trade , discourage our Navigation , lessen their Majesties Customs , impoverish the Subjects , abate the value of Lands to 12 or 14 Years Purchase ; and if the War shoud continue a few Years longer , I cannot foresee which way the Parliament can raise Money , to enable their Majesties to prosecute the War , or how they will be able to settle Funds sufficient , whereon to raise Money for the supply of their Majesties , if they pursue the same Methods of raising it . Having thus shown , upon what disadvantageous Terms both to their Majesties and the Kingdom , their Majesties are supplied with Money on the said Funds ; I now come to show , how their Majesties may be plentifully supplied with Money , and the Subjects enrich'd by the Taxes raised on them . PROPOSALS . First , That it be enacted , that any Person who hath an Estate in Fee , of Free-hold , or Copy-hold Land , may settle such their Estate upon twenty Commissioners , viz. four Commissioners to be appointed by their Majesties , their Heirs or Successors ; six Commissioners by the House of Lords , and ten Commissioners by the House of Commons , in Trust for a Security , to make good all Bills , as shall be issued out upon the Credit of such their Estates , to be settled for such Purposes . Secondly , That there shall be a general Register kept in London , and a particular Register in the chief City or Town in each County , where shall be entred all the Estates intended to be settled . Thirdly , That none shall be permitted to settle his or her Estate , until he or she shall have entered in the General Register in London , and in the Particular Register in the County , where such Estate lies , his or her Christian Name , Sirname , Profession , Place of Abode , the Particulars of , and his or her Title to such Estate , which he or she desire to settle for the space of six Months ; in which time , if no Claim be laid to , nor Caveat enter'd against the settling of such Estate , the said Estate shall be settled , and Bills of Credit ( not exceeding the value of 20 Years Purchase ) shall be issued out upon the Security of such Estate , as the present yearly Value of such Estate shall appear to be upon Examination to be made by the Commissioners , and by the Oaths of two or more credible Witnesses . Fourthly , That the Commissioners shall appoint three or more understanding Men in each County , who shall make a strict Enquiry in the several Counties , after the Value , Titles , Prop●●●●●s , Occupiers , or Tenants of each and every Estate , entred in the County-Registers in order to be settled , and shall transmit their several Informations to the Commissioners . Fifthly , That the Commissioners shall appoint twenty able Counsel , to examine the Titles of all Estates which shall be settled , and no Estate shall be settled but upon the Approbation of three or more of the said Counsel , to be signified under their Hands . Sixthly , That no Estate shall be settled , against the Settlement whereof any Caveat shall be entred , or where the Counsel are not clear in their Opinion , that the Title is good , until such Title shall be cleared . Seventhly , If any Person shall make an undue Settlement of an Estate he hath no right to , the Party ( whose Estate it shall appear to be ) shall ( upon good Proof thereof ) be intituled to the Estate and all the Profits arising , or that shall or may arise by such Settlement , and shall have his Remedy at Law , against the Person who made such undue settlement of his Estate , for all the Bills of Credit or Profits he shall have received by virtue of such Settlement ; and may sue for , and recover treble Damages , with cost of Suit , to the Party aggrieved by such undue Settlement ; to be recovered by Action of Debt , Bill , Plaint or Information , in any of their Majesties Courts at Westminster , &c. prout in other Acts. Eighthly , That any Person may settle his mortgaged Estate , giving the Mortgagee three Months notice in Writing of such his intended Settlement ; but no Mortgager shall receive any Profit or Advantage thereby , without the consent of the Mortgagee , until such time that the Mortgagee shall be fully paid his Principal , Interest , and all reasonable Charges by the said Mortgagee expended or laid out upon such mortgaged Estate , or for or by reason of such Mortgage , before and until such time of notice given in Writing , by the Mortgager to the Mortgagee , of such intended Settlement . Ninthly , The said Bills of Credit shall be current in payment , by Indorsment toties quoties , from the Party delivering , or paying , to the Party receiving the same , as the lawful Coin of the Kingdom . Tenthly , That all those Persons , who shall settle their Estates may and shall choose 25 Directors once in every three Years , in the Month of September , by the Majority of Votes , to be brought or sent in writing , the Commissioners giving publick Notice in three several Gazetts , a Month at least before every such Election or Elections : any three or more of which Directors , together with any two or more of the Commissioners , may prepare Bills of Credit , to be issued out upon the Security of any Estate , or Estates . Eleventhly , That upon the Death or other Vacancy of any Commissioner to be appointed by their Majesties , their Heirs or Successors , their Majesties , their Heirs or Successors , may fill up such , and every such Vacancy . That upon the Death , or other Vacancy , of any one or more of the Commissioners to be appointed by the House of Lords , the surviving or remaining Commissioners , of the House of Lords , shall nominate and appoint one or more Persons , to supply such , and every such Vacancy , who shall have full Power , and Authority , to act as a Commissioner , or Commissioners , and shall be deemed , and taken to be such , to all Intents and Purposes ; and so shall continue to act ( by virtue of such Commission received from the said Commissioners ) until he , or they , or until some other Person , or Persons , shall be chosen and appointed by the House of Lords , and no longer . That upon the like Death , or Vacancy , of any one or more of the Commissioners to be appointed by the House of Commons , the surviving or remaining Commissioners of the House of Commons , shall nominate and appoint one or more Persons to supply such , and every such Vacancy , who shall have full Power and Authority to act as a Commissioner or Commissioners ; and shall be deem'd , esteem'd , and taken to be such , to all Intents and Purposes ; and so shall continue to act ( by virtue of such Commission , received from the said Commissioners ) until he or they , or until some other Person or Persons , shall be chosen and appointed by the House of Commons , and no longer : It being hereby intended , that there shall never be any Vacancy of the Commissioners ; but that there shall be constantly four Commissioners for their Majesties , six Commissioners for the House of Lords , and ten Commissioners for the House of Commons . Twelfthly , That their Majesties shall and may allow each and every of the Commissioners , 1000 l. per annum , and no more . Thirteenthly , That no Commissioner shall be displaced , but by Authority of Parliament . Fourteenthly , That there shall be fifteen Commissioners , and twenty Directors present , and consenting to the issuing out all Bills of Credit to be advanced to their Majesties , upon any Parliamentary Fund . Fifteenthly , That their Majesties may allow 1000 l. per Annum , and no more , to the Commissioners and Directors , for their Charge in issuing out , and renewing the Bills of Credit , for each Million value in Bills advanced to their Majesties , upon any Parliamentary Fund ; and for the Salaries of Book-keepers , Accomptants , Clerks , and inferiour Officers ; and all other Charges whatsoever , until the Bills of Credit issued out for such Money , shall be paid and cancell'd . Sixteenthly , That their Majesties , their Heirs and Successors , shall and may pay the Commissioners and Directors , out of any Fund settled by Parliament for that Purpose , 3 l. per cent . per annum , and no more , for Interest of all Bills of Credit , they shall advance to their Majesties . Seventeenthly , That the Commissioners and Directors shall pay the said 3 l. per cent . per annum , to the Persons , upon the Security of whose Estates such Bills were issued out , every Year at two equal Payments , without any Gratuity or Reward ; and if the Commissioners or Directors , shall refuse or neglect to pay the said 3 l. per cent . per annum , or any part of it , to the said Persons to whom it shall be due and payable , ( provided the Commissioners and Directors shall have received the same ) such Commissioners and Directors shall forfeit and pay to each and every Person aggrieved by such Non-payment , treble Damage , &c. Eighteenthly , That their Majesties , their Heirs and Successors , shall and may pay to the said Commissioners and Directors , for all the Bills of Credit hereafter to be issued out and advanced to their Majesties upon the Credit of any Fund settled , or to be settled by Parliament for the Payment of any Annuity , in lieu of , or in recompence for such Bills of Credit , by them issued out , and advanced to their Majesties upon the Credit of such Funds , the several Rates and Annuities , according to the several Terms , or Number of Years herein after particularly set down and express'd , viz. For an Annuity of 100 Years — 3 l. 10 s. — 66.8 Months 4 l. — s. — 50 Years — 4 l. 10 s. — 40 Years — 5 l. — s. — 33.4 Months 5 l. 10 s. — 25 Years — 6 l. 10 s. — 20 Years — 7 l. 10 s. — 16 Years — 8 l. 15 s. — 13. 4. Months 10 l. — s. — 10 Years — 12 l. 10 s. — per Cent. per Annum . and no more , for each and very 100 l. value , in Bills of Credit , issued out to their Majesties upon the Credit of any such Fund or Funds , by the said Commissioners and Directors as aforesaid . Nineteenthly , That the Commissioners and Directors shall pay , or cause to be paid to the Persons upon the Credit of whose Estates such Bills were issued out , 2 l. 10 s. per cent . per annum , for each 100 l. Pound value in Bills of Credit , advanced to their Majesties , in like manner as is appointed for the Payment of the 3 l. per cent . per annum Interest , and upon the like Penalties or Forfeitures for Non-payment ; and with the whole Residue of such Annuities , they are to discharge , and cancel every Year part of the Bills of Credit : by which means , all the Bills of Credit will be paid , and cancell'd in the determined Term of Years , for which the Payment of such Annuity or Annuities , were settled . Twentieth , That every Person who shall issue out , and advance Bills of Credit upon the Security of his or their Estate , for the Use of their Majesties , shall be exempted from Taxes to their Majesties , for such Part of their Estates settled for those Purposes , and advanced for their Majesties Service : and any three of the Commissioners shall give a Certificate of the same ; and each Certificate shall be entred down in a Book or Books , to be kept by the Commissioners and Directors for that Purpose . 21 st . That all Estates shall be settled , and Bills of Credit advanced upon the Security of them , in order as they were entred in the General Register , without preference or otherwise . 22 d. That any Person or Persons ( after their Estate or Estates shall be settled six Months ) may have what Bills of Credit they please for their own proper Use or Uses , not exceeding 20 Years purchase , of the present Yearly value of their Estates ; paying the Commissioners and Directors for each 100 l. value in Bills of Credit , to be kept for their own proper Use or Uses , 10 s. per Annum for the Charges which the said Commissioners and Directors must necessarily be at in issuing out , and renewing the Bills of Credit ; and towards the Payment of Salaries to Servants , and all other their Charges whatsoever . 23 d. That any Person or Persons ( after their Estate or Estates shall have been settled six Months ) may have what Bills of Credit they please on their own proper Accounts , not exceeding 20 Years purchase , of the present Yearly value of their Estates ; paying the Commissioners and Directors any of the following Annuities according to the several Terms of Years , next and immediately herein after set down : That is to say , For an Annuity of 50 Years — 2 l. 10 s. — 40 Years — 3 l. — s. — 33.4 Months 3 l. 10 s. — 25 Years — 4 l. 10 s. — 20 Years — 5 l. 10 s. — 16 Years — 6 l. 15 s. — 13.4 . Months 8 l. — s. — 10 Years — 10 l. 10 s. — per Cent. per Annum . and no more , for each , and every 100 l. value in Bills of Credit , issued out by the Commissioners and Directors , to him or them , for his or their own proper Use or Uses ; 10 s. per cent . per annum ( part of the said Annuities ) to be paid to the said Commissioners and Directors , for their Charges , to be equally divided among them ; and with the Remainder , or Residue of the said Annuities , the said Commissioners and Directors shall discharge , and cancel Bills of Credit , for part of the Principal , until all , and every part of the Principal , shall be paid , and the Bills of Credit issued out thereupon cancelled . 24 th . That any Person or Persons , who shall have or receive any of the said Bills of Credit , may renew them once in every Calendar-Month , without Fee or Reward . 25 th . That any Person or Persons , who shall renew any Bill or Bills of Credit , may have as many Bills of Credit as they please for any Bill of Credit of the like value ; but no Bill of Credit is to be made for a less value than 5 l. 26 th . That any Commissioner or Director , who shall , directly or indirectly , take any greater Premium , Consideration or Reward , for doing their Duties enjoined them by this Act , he or they shall be suspended from their Place or Places , until the next Session of Parliament . 27 th . That the Commissioners and Directors shall cause a compleat Ballance of their Books , to be drawn up every Year , in the Month of August , unto the first Day of the said Month , to be subject to the Inspection of a Committee or Committees of the Lords or Commons in Parliament . 28th . That every Commissioner or Director , who shall issue out Bills of Credit , upon the Security of any Estate , to a greater value than 20 Years purchase of such Estate , as the same shall be sworn to be worth by two or more credible Witnesses ; or shall issue out Bills of Credit , for the Security of which , no Estate shall be first settled ; or shall lend , or advance to their Majesties , any Bills of Credit , otherwise than upon a Parliamentary Fund , and by the Consent and Authority of Parliament , shall incur , and suffer the Pains and Penalties of High-Treason . 29 th . That it shall be High-Treason to counterfeit any of the said Bills , or to offer them in Payment , knowing the same to be counterfeited . Having thus finished my Proposals , I shall mention something of those many great Advantages which their Majesties and the whole Nation will reap by this proposed Method . First ; Their Majesties will be plentifully supplied with Money on much easier Terms , and far greater Sums might have been raised on the Million-Act , Lottery-Act , and Bank of England , by this proposed Method , than were raised by the said Funds by the late Methods ; and the like may be done on any future Fund : and the more Money any Fund raises , the fewer Funds will need to be settled , and consequently the Nation will be less burdened . Secondly ; It will certainly unite their Majesties and the People , and engage them insepara●ly in each other's Interest . Thirdly ; These proposed Bills of Credit being a new Species of Money , and to all Intents and Purposes as useful as Money , it will be ( as it were ) an introducing of so many more fresh monied Men into the Kingdom , with several Millions of Money more than was before , for the Supply of their Majesties ; and will answer all Occasions , as the bringing in so many Millions of Money into the Nation would or could have done . Fourthly ; Money naturally begetting Money , every Million value in these Bills of Credit will produce as much Profit as a Million of Money ; and if employed in Trade , and but 6 l. per cent . per annum got by it , each Million value in Bills of Credit issued out upon the Security of Gentlemens Estates , will bring in 60000 l. per annum Profit every Year to the Nation . Fifthly ; It will keep great Sums in the Nation , that otherwise will be sent out of the Nation for Interest ; and will enable us to lend , who are now forced to borrow of others . Sixthly ; It will animate our Merchants , and set them upon the same Level , in respect of Trade , with our Neighbours . Seventhly ; It will encourage all Artificers and Handicrafts , and bring new Manufactures into the Kingdom ; which cannot now be wrought here by reason of high Interest ; and set all our Poor at work , many Thousands of whom are now in a starving Condition for want of Employment : and it will turn the Genius of the Subjects into the right Channel again , by putting them upon the improving their Money in Trade . Eighthly ; It will ease all the Nobility and Gentry from Taxes , who shall advance Bills of Credit to their Majesties upon the Security of their Estates , and will add 50 or 60 l. per annum to every 100 l. per annum of their present Estates . Ninthly ; Gentlemen will have an Opportunity of improving their Estates by building , repairing , planting , draining or watering their Lands ; who are not now able to do it , by reason of Scarcity of Money , and high Interest : by which means many thousand People , who are now chargeable to the Parishes , will be employed in all the several Parts of this Kingdom . Tenthly ; It will enable all such whose Estates are mortgaged , or otherwise engaged , to clear their Estates from Incumbrances : and those may have Bills of Credit upon the Security of their own Estates for 10 s. per Cent. per annum , as in Proposal 22 , who now pay 5 , 6 or 7 l. per Cent. per annum ; or else by paying a small Annuity , as in Proposal 23. they may by Degrees , and upon easy Terms , pay off Principal as well as Interest . Eleventhly ; They may with Ease raise Portions for their Children , without parting with their Freeholds . Twelfthly ; It will put all People , who have Money , upon buying Land ; and will in all probability , raise the Value of Land to 40 or 50 Years Purchase . But because Examples are the best for Illustration , I have hereunto subjoined Tables with the Explanations of them drawn up pursuant to my Proposals , which will fully demonstrate , and plainly make appear , the most unspeakable Advantages this proposed Method will be to the whole Kingdom in general . A TABLE showing the Value in Bills of Credit any Person may take up upon an Estate of 100 l. per Annum ; the Annuity he must pay for any Term of Years he shall settle his Estate in discharge of Principal and Interest ; what is to be paid every Year to discharge the Principal ; and what is to be paid to the Commissioners and Directors . Estate settled . Bills of Credit . Term of Years . Interest or Annuity . per Annum . To pay the Principal . per Annum . To pay the Commissioners and Directors . 100 l. p. Annum . 2000 l. Perpetual . 10 l.   10 l. p. Annum . 50 Years , 50 40 l. 40 Years , 60 50 33.4 Months , 70 60 25 Years , 90 80 20 Years , 110 100 16 Years , 135 125 13.4 Months . 160 150 10 Years , 210 200 A Table shewing what Sum any Nobleman , Gentleman , or other Person may take up upon any Estate , from 5 l. per Annum , to an Estate of 5000 l. per Annum : What he must pay for Interest , or for an Annuity for any Term of Years , in discharge of Principal and Interest ; and what he must now pay for Interest , only after the Rate of 6 per Cent. per Annum . Estates to be settled . Bills of Credit . Perpetual . 50 Vears . 40 Yrs. 33 Years 4 Months . 25 Years . 20 Years . Interest at 6 per Cent. per Annum .   per Annum . per Annum . per Annum . per Annum . per Annum . per Annum . per Annum . 5 l. 100 l. 0 l. 10 s. 2 l. 10 s. 3 l. 3 l. 10 s. 4 l. 10 s. 5 l. 10 s. 6 l. 10 l. 200 l. 1 l. 5 l. 6 l. 7 l. 9 l. 11 l. 12 l. 20 l. 400 l. 2 l. 10 l. 12 l. 14 l. 18 l. 22 l. 24 l. 30 l. 600 l. 3 l. 15 l. 18 l. 21 l. 27 l. 33 l. 36 l. 40 l. 800 l. 4 l. 20 l. 24 l. 28 l. 36 l. 44 l. 48 l. 50 l. 1000 l. 5 l. 25 l. 30 l. 35 l. 45 l. 55 l. 60 l. 100 l. 2000 l. 10 l. 50 l. 60 l. 70 l. 90 l. 110 l. 120 l. 150 l. 3000 l. 15 l. 75 l. 90 l. 105 l. 135 l. 165 l. 180 l. 200 l. 4000 l. 20 l. 100 l. 120 l. 140 l. 180 l. 220 l. 240 l. 250 l. 5000 l. 25 l. 125 l. 150 l. 175 l. 225 l. 275 l. 300 l. 300 l. 6000 l. 30 l. 150 l. 180 l. 210 l. 270 l. 330 l. 360 l. 350 l. 7000 l. 35 l. 175 l. 210 l. 245 l. 315 l. 385 l. 420 l. 400 l. 8000 l. 40 l. 200 l. 240 l. 280 l. 3●0 l. 440 l. 480 l. 450 l. 9000 l. 45 l. 225 l. 270 l. 315 l. 405 l. 495 l. 540 l. 500 l. 10000 l. 50 l. 250 l. 300 l. 350 l. 450 l. 550 l. 600 l. 750 l. 15000 l. 75 l. 375 l. 450 l. 525 l. 675 l. 825 l. 900 l. 1000 l. 20000 l. 100 l. 500 l. 600 l. 700 l. 900 l. 1100 l. 1200 l. 1500 l. 30000 l. 150 l. 750 l. 900 l. 1050 l. 1350 l. 1650 l. 1800 l. 2000 l. 40000 l. 200 l. 1000 l. 1200 l. 1400 l. 1800 l. 2200 l. 2400 l. 2500 l. 50000 l. 250 l. 1250 l. 1500 l. 1750 l. 2250 l. 2750 l. 3000 l. 3000 l. 60000 l. 300 l. 1500 l. 1800 l. 2100 l. 2700 l. 3300 l. 3600 l. 3500 l. 70000 l. 350 l. 1750 l. 2100 l. 2450 l. 3150 l. 3850 l. 4200 l. 4000 l. 80000 l. 400 l. 2000 l. 2400 l. 2800 l. 3600 l. 4400 l. 4800 l. 4500 l. 90000 l. 450 l. 2250 l. 2700 l. 3150 l. 4050 l. 4950 l. 5400 l. 5000 l. 100000 l. 500 l. 2500 l. 3000 l. 3500 l. 4500 l. 5500 l. 6000 l. A Table showing how much Money may be raised by this proposed Method , upon 100000 l. per An. settled for paiment of Interest , or an Annuity for any Term of Years : What Interest or Annuities must be paid : The yearly Value of the Estates to be settled for the Security of Bills of Credit : What must be paid every Year to such who settle their Estates ; and What must be paid off every Year by the Commissioners and Directors in discharge of the Principal . Annual Fund . Term of Years . Interest or Annuity . Sums Advanced . Estates settled To pay those who settle their Estates . To pay off the Principal . per Annum .   per Annum .   per Annum . per Annum . per Annum . 100000 l. Perpetual . 3 l. 00 s. 3333333 l. 06 s. 08 d. 166666 l. 13 s. 04 d. 100000 l.   100002 l. 100 Years . 3 l. 10 s. 2857200 l. 142860 l. 71430 l. 28572 l. 100000 l. 66.8 Months . 4 l. 00 s. 2500●00 l. 125000 l. 62500 l. 37500 l. 100008 l. 50 Years . 4 l. 10 s. 2222400 l. 111120 l. 55560 l. 44448 l. 100000 l. 40 Years . 5 l. 00 s. 2000000 l. 100000 l. 50000 l. 50000 l. 100001 l. 33.4 Months . 5 l. 10 s. 1818200 l. 90910 l. 45455 l. 54546 l. 100002 l. 10 s. 25 Years . 6 l. 10 s. 1538500 l. 76930 l. 38462 l. 10 s. 61540 l. 100005 l. 20 Years . 7 l. 10 s. 1333400 l. 66670 l. 33335 l. 66670 l. 100003 l. 15 s. 16 Years . 8 l. 15 s. 1142900 l. 57145 l. 28572 l. 10 s. 7143● l. 5 s. 100000 l. 13.4 Months . 10 l. 00 s. 1000000 l. 50000 l. 25000 l. 75000 l. 100000 l. 10 Years . 12 l. 10 s. 800000 l. 40000 l. 20000 l. 80000 l. A Table showing how much per Annum is to be settled by Parliament for a Fund to be paid yearly for each Million Value in Bills of Credit to be advanced to their Majesties at Interest , or for the paiment of an Annuity for a Term of Years : What yearly Value in Land is to be settled for the Security of the Million Value in Bills of Credit : What is to be paid yearly to such whose Estates shall be settled for the Security of such Bills of Credit ; and what is to be paid every Year towards the Discharge of the Principal . Sum Advanced . Term. Interest or Annuity . Annual Fund . Estates settled . Paid those who settle their Estates . To pay off Principal .     per Cent. per Annum . per Annum . per Annum . per Annum . per Annum . A Million Perpetual . 03 l. 00 s. 30000 l. — 30000 l.   100 Years . 03 l. 10 s. 35000 l. 50000 25000 10000 l. 66.8 Months . 04 l. 00 s. 40000 l. 15000 l. 50 Years . 04 l. 10 s. 45000 l. 20000 l. 40 Years . 05 l. 00 s. 50000 l. 25000 l. 33.4 Months . 05 l. 10 s. 55000 l. 30000 l. 25 Years . 06 l. 10 s. 65000 l. 40000 l. 20 Years . 07 l. 10 s. 75000 l. 50000 l. 16 Years . 08 l. 15 s. 87500 l. 62500 l. 13.4 Months . 10 l. 00 s. 100000 l. 75000 l. 10 Years . 12 l. 10 s. 125000 l. 100000 l. The Use of the first and second Tables , applied to the Proposals . ADmit a Gentleman hath barely 100 l. per Annum Estate to live on , and hath a Wife and four Children to provide for : This Person , supposing no Taxes were upon his Estate , must be a great Husband to be able to keep his Charge , but cannot think of laying up any thing to place out his Children in the World : but according to this proposed Method , he may give his Children 500 l. a-piece , and have 90 l. per annum left for himself and his Wife to live upon ; the which he may also leave to such of his Children as he pleases after his and his Wife's Decease : For first having settled his Estate of 100 l. per annum , as in Proposals 1 , 3. he may have Bills of Credit for 2000 l. for his own proper Use , for 10 s. per cent . per annum , as in Proposal 22. which is but 10 l. per annum for the 2000 l. which being deducted out of his Estate of 100 l. per annum , there remains 90 l. per annum clear to himself . But suppose this Gentleman hath mortgaged his Estate for 1000 l. for which he pays 60 l. per annum Interest , he hath but 40 l. per annum left , which will hardly keep his Wife and Children from starving , especially if he pays 20 l. per annum Taxes out of that small Pittance ; having settled his Estate in Land , and taken up 2000 l. Bills of Credit upon it , he may pay off his 1000 l. Mortgage , and give his Children 250 l. a-piece , and have 50 l. per annum more than he now hath left him to live upon . But admit a Gentleman hath 1000 l. per annum ; upon which we will suppose he owes 10000 l. at 6 l. per cent . per annum Interest , ( not to mention Procuration and Continuation ) the bare Interest comes to 600 l. per annum , the Taxes of 4 s. in the Pound to their Majesties comes to 200 l. per annum more ; reckoning Repairs , Militia-rate , Trophy-Money , &c. he hath not 200 l. per annum left him to maintain himself and Family . If this Gentleman settles his Estate as in Proposals 1 , 2. he may have Bills of Credit for 20000 l. as in Proposal 22. with this he may pay off his 100000 l. Mortagage : for which 10000 l. he must pay 10 s. per cent . which is 50 l. per annum to the Commissioners and Directors ; he may lend the other 10000 l. to their Majesties , for which he shall have 3 l. per cent . per annum , as in Proposal 16. which comes to 300 l. per annum ; and be exempted from half the Taxes upon account of the 10000 l. lent their Majesties , as in Proposal 20. So that this Gentleman who has not now 200 l. per annum clear , will have almost 1150 l. per annum coming in ; as appears by the following Parallel . The Gentleman 's present Circumstances . His Circumstances by my Method . Interest of 10000 l. — 600 l. per annum . Taxes of 4 s. in the Pound — 200 l. per annum . Remaining for himself , not reckoning Militia-rate , &c. 200 l. per annum . 1000 l. per annum . His Estate — 1000 l. per annum . Interest of 10000 l. lent to their Majesties — 300 l. per annum . 1300 l. per annum . Paid the Commission , and Direct . for 10000 l. Bills — 50 l. per annum . Taxes — 100 l. per annum . 150 l. per annum . Remains to the Gentleman — 1150 l. per annum . And his 10000 l. Mortgage paid off . But if this Gentleman hath any Children , he may give them 10000 l. among them , and have 700 l. per annum left , viz. Paid the Commissioners and Director , 120000 l. Bills of Credit 100 l. per annum . Paid Taxes at 4 s. in the Pound — 200 l. per annum . Remains to the Gentleman — 700 l. per annum . 1000 l. per annum . So here is 10000 l. Mortgage paid , 10000 l. given among his Children , 200 l. per annum to their Majesties for Taxes , and 7●● l. per annum the Gentleman will have to live upon . But suppose the Gentleman who owes 10000 l. upon his Estate of 1000 l. per annum , hath a mind to pay it off gradually by a small Annuity for a Term of Years , he shall have 10000 l. Bills of Credit to pay off his 10000 l. ( for which he must now pay 600 l. per annum for Interest , and not a Farthing of the Principal paid ) upon the Payment of 250 l. per annum for 50 Years , and never pay the Principal ; or if the Gentleman desires to pay it in a less time , he may have 10000 l. Bills of Credit for 550 l. per annum Annuity for 20 Years , and his Estate then cleared ; which is less by 50 l. per annum than he must now pay for simple Interest only ; and at the 20 Years end he will still owe the whole 10000 l. Principal . Or does any Gentleman owe greater Sum upon his Estate , suppose 50000 l. he must pay 3000 l. for the bare Interest ; whereas by this Method , he shall pay no more than 250 l. per annum for 50000 l. which is 2750 l. per annum saved to him out of 3000 l. per annum . Instances of this Nature are numerous : I shall now show that it . is no less advantageous to the publick , than it is to private Persons . The Use of the third Table . IF the Parliament had raised Money by this Method upon the Fund of 10000 l. per annum settled on the Bank of England , they might have had 3333333 l. 6 s. 8 d. which is 2133333 l. 6 s. 8 d. more than was raised upon it ; and the Gentleman who settled their Estates for Security of the Bills of Credit , would have been excused from Taxes , and have had 60 l. per annum added to every 100 l. per annum present Estate they now have : So that whereas the Parliament upon a Fund of 200000 l. per annum , is not able to raise above 2400000 l. which is not the half of one Year's Taxes ; the Parliament may raise by my Method almost seven Millions upon a Fund of 200000 l. per annum , and oblige the Gentlemen of England into the Bargain by an Exemption from Taxes , and a considerable Augmentation of their yearly Estates : But if the Parliament had settled the said Fund of 100000 l. per annum only for a certain number of Years , when the same should have expired , and the Nation eased of the Fund ; if the Parliament ( instead of a Perpetuity ) had settled it but for 66 Years and 8 Months , they might have raised 2500000 l. which is more by 1300000 l. than they have for a Perpetuity ; and the Gentlemen of England would have had 62500 l. per annum , part of the said Fund , in Augmentation of their Estates . Or admit they had raised a Million of Money , as in the Lottery-Act , they might have had a Million for 100000 l. per annum for 13.4 Months ; whereas they gave 140000 l. for 16 Years . The Use of the fourth Table . ADmit the Parliament had raised 1200000 l. by my proposed Methods , they might have had it for 36000 l. per annum ; which is 64000 l. per annum less than is paid to the Bank of England : or they might have raised a Million upon the Payment of 87500 l. per annum Annuity for 16 Years , which is less by 52500 l. per annum than is paid on the Lottery-Act ; or else upon the 140000 l. per annum Fund paid on the Lottery-Act , might have been raised 1600000 l. the Gentlemen must have settled 80000 l. per annum in Land for the Security of the Bills of Credit ; for which they should have 40000 l. per annum paid them out of the Parliamentary Fund , and the remaining 100000 l. per annum should have paid off the 1600000 l. in 16 Years . So that by these Means the Nation is not only served on much easier Terms , but Gentlemen will be exempted from Taxes , and have a considerable Addition to their Yearly Estates . I now come to consider what Objections may be raised against these Proposals , and shall endeavour to answer them , and that as briefly as I can . Obj. You propose in Proposal 22. that any Man , who shall settle his Estate for the Security of Bills of Credit , may have what Bills of Credit he pleases to the present value of his Estate for his own proper Use : now admit a Man settles an Estate to which he hath no Right , and takes up all the Bills of Credit on his own proper Account , and buys Goods or Merchandize with the said Bills , and goes beyond Sea , what must the Person do who hath the lawful Right and Title to such Estate ? for the Estate being settled in due form , as in Proposal 3. the right Owner is left remediless , if the Person who made such undue Settlement be out of his reach . Answ . 1. No Man can settle an Estate , who may not as well now sell the same Estate : for in regard no Estate can be settled but where 3 able Counsel shall give it under their hands , that the Person who settles such Estate hath a good Title to it , as Proposal 5. so any Person who can show so fair a Title to an Estate as to deceive 3 Counsel , he may as well now sell the said Estate , and go beyond Sea with the Money : and tho the Person whose Estate it really is , will not be injured , yet the Purchaser will lose his Money ; and it is no less evil for the one to lose his Money , than it would be for the other to lose his Land. Answ . 2. If such undue Settlement should be made , and twenty Years Purchase of the Estate received in Bills of Credit , the remaining Part of the Estate will be more worth to him who hath the legal Right to the Estate than the whole will be worth if no Settlements be made : but for brevity sake I refer my Reader for a further Answer to Proposal 7. and to Queries 14 , 15 , 16 , 17 , 18 , 19 , 20. Obj. But you have proposed 3 l. per Cent. per Annum for Interest , and 2 l. 10 s. per Cent. per Annum for Annuities , to such who shall settle their Estates for the security of Bills of Credit , to be issued out and advanced to their Majesties upon any Parliamentary Fund , as in Proposals 16 , 17 , 18 , 19. now what Man in his Senses will settle and encumber an Estate of 2000 l. Value , for so inconsiderable an Advantage as 50 or 60 l. per Annum , for the payment of which he hath no other Security than a Revenue payable out of the Exchequer : and if the payment of that Annual Fund should be slopt , he will be in a sorry Condition , his Estate being notwithstanding obliged to make good the Bills of Credit issued out upon the Security of it . Answ . 1. None who have read what Advantages a Gentleman of a real Estate will reap by this Settlement , will call his Prudence in question , for settling his Estate in order to partake of those many Advantages , but will rather doubt of his Judgment , if he should not do it : pick out the most Profitable of the late Funds , and I will compare with it . For 2000 l. in Money , a Man may have 166 l. 13 s. 4 d. in the Bank , being 12 Years Purchase ; on this we will suppose he may take up 1500 l. or more , at an hour's warning , at 5 or 6 l. per Cent. per Annum , and pay it in again when he pleases ; besides he will have part of other Advantages of discounting Merchants Bills , Exchequer-Tallies , &c. Suppose now that I had 2000 l. by me : I would lay it out in Land , ( upon an assurance that this proposed Method would meet with Encouragement ) for which 2000 l. I may buy 100 l. per Annum , this Estate I would settle for 2000 l. Bills of Credit , which being lent their Majesties , will bring me in 60 l. per Annum , as in Proposals 16 , 17. so that I should have 160 l. per Annum , for my 2000 l. and if 20 l. saved be 20 l. got , he who hath now 100 l. per Annum , must pay 20 l. per Annum Taxes , which will be saved , if he advances his Bills of Credit to their Majesties , as in Proposal 20. And then as to other Advantages , mine will be far superiour to his , for I can have 2000 l. upon my 100 l. per Annum , after the Estate is settled , on as short a warning as he can have his 1500 l. and need pay no more than 10 s. per Cent. per Annum , as in Proposal 22. when he must pay ten times 10 s. per Cent. per Annum : or I can give 2000 l. among my Children , and have 90 l. per Annum left ; or if I have a mind to sell my Estate , I may in probability sell that for 5000 l. that cost me but 2000 l. vide Query 17. Answ . 2. As to the Security of the Parliamentary Fund , I cannot doubt that the Parliament will take less care of the Free-holders of England , than they have done of the monied Men. Answ . 3. As to the Annuities for which Gentlemen have but 2 l. 10 s. per cent . per annum , they are rather better than the 3 l. per cent . per annum . Interest , in regard that he who settles his Estate for 2000 l. Bills of Credit , to advance them to their Majesties communibus annis , stands engaged but for a 1000 l. only , in that the Annuity being paid every Year , the Sum for which their Estates stood engaged , becomes thereby lessen'd , and consequently the Security strengthened . Vide Proposals 18 , 19. Object . But you oppose the monied Men making Advantages of their Money , and propose greater Advantages to Gentlemen of real Estates . Answ . I confess I do , and that for several Reasons . First , Gentlemen of yearly Estates have born the burden of the Taxes , while the monied Men have paid little or nothing for the carring on the War , or support of the Government , but on the contrary many of them have enrich'd themselves by it . Secondly , None can possess or enjoy Lands but the Subjects of this Realm ; but monied Men are of all sorts , Foreigners as well as our own Subjects : and if an Advantage be to be made , it ought to be to our own Subjects rather than to Foreigners . Thirdly , It is less hazardous to trust the Riches of the Nation in the Hands of our own Subjects , who are settled here with their Families , than with those who being born in Foreign Parts may , and in all likelyhood ( when they have got our Money ) will carry it out of the Nation . Fourthly , The Landed Gentlemen will deserve this Encouragement , in that they will raise above double the Sum of Money upon any Fund by this proposed Method , more than was raised by the late Methods . Fifthly , This proposed Method encreases Trade , enriches the Subjects , and will raise the Price of Land : the late Method destroys Trade , impoverishes the Subject , and depretiates Land. Obj. But in a little time the Bank of England will be in great Repute , and they will issue out their Bank-Bills , which will go for Money ; and these Bills the Directors will lend Gentlemen upon the Security of their Estates for 61. per cent . per annum Interest , and also to Merchants at the same rate , upon a deposite of Wares or Merchandize in the Custody of the Bank for a Security . Answ . If Land be a Security , why may not Gentlemen be enabled by this proposed Method , to issue out Bills of Credit upon a Fund of Land settled out of their own Estates , as well as these Gentlemen Bank-Bills upon a Fund settled on the Excise ? Is not 100000 l. per Annum in Land a better and more valuable Fund than 100000 l. per Annum payable out of the Excise ? I am sure it was esteemed so formerly , and it is in the Power of the Parliament to make it so still if they please ; and yet the Gentlemen with 100000 l. per Annum in Land ( if they want Money ) must be glad to accept of the Bank-Bills for half the Value of their Estates , for which their whole Estates must be engaged , and must give them 6 l. per Cent. per Annum into the Bargain , when the Security such have who take these Bank-Bills , is not near so good a Security as these Gentlemens Estates are , who yet must be forced to mortgage them for those Bank-Bills : to which I can make no fitter a Comparison , than for a Man to pawn a Guinea for a Counter , or a Diamond for a Bristol - Stone ; and therefore I confess I can see no reason why Gentlemen should give 6 l. per Cent. per Annum for Bank-Bills , when they may have Bills of Credit upon their own Estates , which are better Securities , for 10 Shillings per Cent. per Annum . Object . But it is not consistent with the Wisdom or Justice of the Nation , to grant the Gentlemen of the Bank an Act for their Establishment , and to repeal it next Sessions ; for the Parliament may as well repeal the Act , as to enact that Lands shall pass for Money , which is in effect to set up another Bank , or rather so many several Banks as there are landed Men in the Nation , who then need not come to the Bank to borrow Money upon their Estates , but will be able to lend Money to others . Answ . It is not material what some Gentlemen of the Bank might propose to themselves , but what the Parliament granted them , which was better than 8 l. per Cent. per Annum for 11 Years , and longer , if it were not injurious to the Nation : and since it appears to be so already in so eminent a degree , it shows rather the great Justice of the Parliament in continuing them for 11 Years , and paying them 100000 l. per Annum , to the great Prejudice of their own Estates , when they may have the same Sum of 1200000 l. for 36000 l. per Annum , and their Estates considerably augmented thereby . Object . But you propose to force the Subject to take pieces of Paper for Money which have no intrinsick Value in them , which will never be allowed of by an English Parliament , who , tho they made the Bank-Bills assignable , yet they compelled no Person to take them . Answ . 1. I grant there ought to be no force on the Subject to take any thing in Payment which has not an intrinsick Value in it self , or which conveys not an intrinsick Value along with it , whereby the Receiver may be no loser : and therefore it was not without good reason that the Parliament did not oblige the Subject to take the Bank-Bills , because the Bank hath a Fund for the Security of 1200000 l. only ; and they may issue out Bills for as many Millions as they please , for which there is no Security but the Members of the Bank , which is but a Personal Security . Answ . 2. These proposed Bills of Credit convey an intrinsick Value with them , there being a Fund of Land proposed to be settled for their Security before they are issued out , to the full value of the Bills of Credit issued out thereupon , and also a Fund settled by Parliament for all Bills of Credit advanced to their Majesties upon the Payment of any Annuity ; which tho but a collateral Security for the Bills of Credit , yet it may reasonably be supposed it will be as good a Security as the Fund of the Excise . The Bills of Credit being therefore settled on the Security of private Mens Estates as well as a Parliamentary Fund , are of an intrinsick Value , as they will convey above double their Value along with them , viz. a Fund of Land and a Parliamentary Fund ; and therefore for so publick a Good , where all will be benefited and none can be losers , I know no reason can be assigned why the Subject should not be obliged to take them : besides , this is no new thing for Land to pass for Money ; for if a Man mortgages his Estate for 1000 l. if the Mortgagee owes 1000 l. to another , may he not pay him this 1000 l. by assigning over this Mortgage , and the Assignee to a third , and so toties quoties ad infinitum ? Is not this passing Land up and down for Money as much as by my proposed Method ? All the difference is , I have proposed for the conveniency of the Subject , to divide the 1000 l. into 100 or 200 parts , which by the usual way is past in Payment in one intire Sum ; and yet if the Title of the Estate be good , need any Man complain for taking a Skin of Parchment for 1000 l. which conveys an Estate of 1000 l. value along with it ? Answ . 3. Gold and Silver ( to which , when coined , we give the Name of Money ) was made the Medium of Trade and Commerce by reason of its portability , and carrying an intrinsick Value along with it ; the Government ( for that reason ) bearing the Charge of the Coinage , because the intrinsick Value should not be lessened by the Charge bestowed upon it , to turn it into Money , and by the Coinage-Act 18 Car. 2. an Imposition was laid upon Wine , Vinegar , &c. to bear the Charges of the Mint ; and whosoever brought any Gold or Silver into the Mint , was to have the same Weight out again coined without any Charge or Deduction ; and whatsoever was formerly sold , he who received his Money for what he sold , had the full value of the Sum he was to receive , in Gold or Silver ; the Money ( if melted down ) being worth the Value for which he received it : and Persons were so careful that the Money which they received was of an intrinsick Value , that they usually carried small Weights and Scales in their Pockets to weigh any piece of Money which they suspected was too light , and if they found any piece too light they refused it . I am sure , should we try our Money now , we might write Mene Tekel upon 99 Shillings in every 5 Pounds , many of the Half-Crowns we take not having 12 penny worth of Silver in them , and Shillings and Six-pences as light in proportion ; and therefore since our Money hath been so abused by clipping , it hath lost that essential Quality which did at first recommend it , viz. it s intrinsick Value , the Stamp serving now to show what it was , not what it is worth ; scarce 100 l. we receive being worth 50 l. intrinsick Value : and what Fund or Security is there to make good the other 50 l. clipt off ? and yet take it we must , or else we must go without our Money , which is a Coertion with a witness ; but yet People quietly receive it , because they know they can pass it away again for the same Value for which they know took it : and I make no question but 100 l. pecuniis numeratis of such Money as is generally now passable , will be allowed by our Judges and Juries too to be a good and lawful Tender , and a good Plea in Bar of any Action that shall be brought against a Person for the said Sum after such Tender made ; and if they should not , I know not how any Tender can be made in what we may call good and lawful Money of England , unless we pick 100 l. out of 3 or 4000 l. and yet , as if Money had acquired a greater Excellency by being clipp'd , the Consideration for the Loan of it is raised to almost double the Value which it was a few Years since , tho it was then much weightier , and consequently better than now it is : and therefore why it should be look'd upon as a Hardship to oblige the Subject to take Bills of Credit , which convey far more than the intrinsick Value of the Sum therein mentioned along with them , when at the same time they take in Payment Money which is not more than half the intrinsick Value , and Bank-Bills , for which there is no certain Fund , for my part I know not , but shall be obliged to any Person who can give a Reason for it . Object . But shall we not have too many of these Bills of Credit ? Answ . 1. These Bills being a new Species of Money , and to all Intents and Purposes answering the End of Money ; we may as well fear that we shall have too much Money in the Nation , which no wise Man will complain of . Answ . 2. I do not find that this was objected or consider'd in the Constitution of the Bank of England ; there is no Limitation to them , but they may coin Bank-Bills for as many Millions as they please , to an unlimited Sum ; and all the Security the Subjects have for the Bank Bills , issued out for above the Value of 1200000 l. is but only a Personal Security , many of whom are Foreigners : And if the Members for the Time being , and not the Subscribers , are bound , we know not who are our Bondsmen , by reason of the daily Transferrences : And why should we be afraid of having too many Bills of Credit , more than of having too many Bank Bills , when the Nation may be Losers by the Bank Bills ? But it is impossible for any Man to be a Loser by Bills of Credit , since no Bill of Credit may be issued out before a real Security out of some Gentleman 's private Estate or Freehold , shall be first settled for the Security of such Bill or Bills . So that if the Nation must have a great Number of Bills circulating , I doubt not but every one will concur with me , that the Bills of Credit are preferable to the Bank Bills , so far as a Real Security is to be valued before a Personal Security ; vide Proposal 3. Answ . 3. None can be injured by our having great Numbers of these Bills of Credit : but several hundred thousand Families will be relieved by these proposed Bills ; and almost as many Families will be ruin'd and undone , if some such Method be not taken to help them . How many Gentlemen are there who pay 50 , 60 , or 70 l. per Annum , for Interest Money out of 100 l. per Annum ; must notwithstanding pay 20 l. per Annum more for Taxes , out of the little they have left to buy their Children Bread ; while he who hath the Estate in his Clutches , and receives one half or two thirds of the Gentleman 's yearly Income for Interest , pays not a Penny towards the Charge of the War , or Support of the Government : And therefore unless it can be proved , that a greater Number of the Subjects will suffer , than will be relieved by these Bills of Credit ; I think if the great Plenty of the said Bills should be an Inconvenience , ( whereas it plainly appears to the contrary , that they will be for the Ease and Advantage , both of their Majesties and all the Subjects in general ) I think a greater Good ought to be preferr'd before a Lesser , and a lesser Evil chose before a Greater . Much more might be said , which , for brevity-sake , I omit , and shall only present those Gentlemen with the following Queries , who doubt of the Practicability or Reasonableness of my Proposals . QUERIES . Q. 1. WHether any Person who hath an Estate , in Fee of Free-hold , or Copy-hold Land , can make a good Security out of such his Estate , to any Person who shall lend him Money upon a Mortgage of such his Estate ? Vide Query 8 Q. 2. Whether the Person who shall pay the Morgagee the Money by him lent upon any Estate , and have thereupon an Assignment of such Mortgage from the Mortgagee , hath not as good a Security for his Money as the Mortgagee had before such Assignment ? Q. 3. Whether the Assignee of such Assignee , and every subsequent Assignee that shall have any mortgaged Estate assigned over to them , upon their paiment of Principal and Interest due from the Mortgager to the several Persons assigning , have not ( by virtue of such Assignments ) as good a Security as the Mortgagee or first Assignee had before they assigned over their Interest in , and Title unto the mortgaged Estate ? Q. 4. If 1000 l. be lent upon the Security of an Estate of 100 l. per Annum ; and if the Morgagee , or Assignee , shall owe twenty Persons 50 l. apiece , whether such Mortgagee , or Assignee , cannot assign over the said Estate to any one or more Person , or Persons , in trust for the said twenty Persons ? and whether every one of the said twenty Persons may not in such case , be as secure for their several 50 pounds as the Mortgagee , or Assignee , might or could be for the whole 1000 l. Q. 5. Whether a Person can make as good a Security out of his Estate , unto Commissioners to be appointed by the King , House of Lords , and House of Commons , in Trust for private Persons , as he can or may do to any one or more private Persons in Trust for others ? Vide Proposal 1. Q. 6. If the Parliament should Enact , that all Mortgages , and Assignments of Mortgages , shall be currant in paiment , ( by Indorsment , toties quoties ) as the lawful Coin of the Kingdom , whether every Person who shall receive such Mortgages , or Assignments in paiment , will not be as much intituled to such Estates , as any Mortgagee or Assignee now is ? Vide Proposal 9. Q. 7. Since I have proposed that all Persons may settle their Estates who have good Titles , and that none may be permitted to settle their Estates , who have no good Titles to such their Estates till their Titles are cleared : And since 20 , or more , of the Ablest Counsel in the Kingdom , are likewise proposed to be employed , to peruse and examine the Titles of all the Estates proposed to be settled upon the Commissioners ; besides 3 or more understanding Men in each Country to take care of the Registers , and to examine and make Enquiry after the Titles , Owners , Occupiers , and Particulars of all and every the Estates that shall be entred in the County Registers , in order to a Settlement : Whether Three , Four , or upon occasion all the said Counsel , by perusing the Writings , and examining the Titles of any Estate that shall be proposed to be settled ; together with what Information they shall receive from the porposed Agents , in the County where such Estate lies , may not be as well able to judg , whether the Title of any Estate , which is proposed to be settled be a good Title , as well as any one Counsel in England can judg whether the Title of any Estate is Good , that is made over for a Security from a private Person borrowing , to another private Person lending Money upon the Security of such Estate ? Vide Proposals 4 , 5 , 6. Q. 8. If a Gentleman's Estate can be a Security to any Man who shall lend Money upon such Estate , Whether it may not be made by Parliament , as good a Security of Bills of Credit to be issued out upon the Crdit or Security of such Estate ; and whether every Person who shall receive such Bills of Credit by Indorsment toties quoties , may not be as secure as the now Mortgagees or Assignees are or can be ? Vide Query 1. Proposal 9. Q. 9. If a Gentleman's Estate may be made a good Security for Bills of Credit that shall be issued out upon the Credit of his Estate , why should he pay 6 l. per Cent. per Annum Interest for Money taken up upon his Estate , when he may be supplied with Bills of Credit upon the Security of his Estate for 10 Shillings per Cent. per Annum , or for a small Annuity , as 4 l. 10 s. per Cent. per Annum , for 25 Years , or 5 l. 10 s. per Cent. per An. for 20 Years , and never pay the Principal ? Vide Proposals 22 , 23. Q. 10. If a Personal Security be thought sufficient by the Parliament for the Creditors of the Bank , who shall take the Bank-Bills for more than 1200000 l. each Member of the Bank being answerable for no more than their Proportions of such Debts according to their Interests , or Subscriptions ; whether Gentlemens Estates in Land settled for the Security of Bills of Credit , issued out upon the Credit of such Estates , be not a better Security for such Bills of Credit than the Subjects have for the Bank-Bills ? the one being a real , the other but a personal Security : among whom are many Foreigners and others , who upon any Failure will doubtless think it high time to shift for themselves . Q. 11. The Stock of the Bank being transferrable , and to be bought and sold , what Security hath the Nation that the Stock may not be bought by such , who , having chose what Directors they please , may carry away all the Gold and Silver they can get together out of the Kingdom , and leave the Members and Creditors of the Bank to help themselves as well as they can ? Q. 12. Whether it will not be more safe and reputable for the Kingdom to have the Riches of the Nation in the Hands of 20 Commissioners appointed by their Majesties , the House of Lords , and the House of Commons , and 25 Directors to be chosen once in every three Years by the Nobility and Gentry of the whole Kingdom , rather than in the Hands of a few private Persons , who may sell and transfer their Interest , and consequently the great Trust reposed in them , to Foreigners , or to Persons dissaffected , if not perfect Enemies to their Majesties and the Kingdom ? Vide Proposal 1 , 10 , 11 , 13 , 14 , 27 , 28. Q. 13. If Gentlemen advance the Bills of Credit , which are issued out upon the Credit of their Estates , to their Majesties upon a Parliamentary Fund , settled for the Payment of an Annuity every Year towards the discharging and cancelling such Bills of Credit , till the Whole shall be paid and cancell'd ; whether ( such Security being strengthned every Year by paying off part of the Bills of Credit , for which such Estates are engag'd ) it doth not render Gentlemens Estates in Land a far better Security , than the Fund settled on the Bank of England ; which will always have the full Value of 1200000 l. due and owing , upon the Security of it ? Vide Proposals 18 , 19. Q. 14. Supposing there were 10 or 12 Millions of Money in the Kingdom , whether the Subjects , sooner or later , must not lose 5 or 6 Millions by clip'd and counterfeit Money , if ever our Money be brought to its right Standard ? And whether the Council to be appointed pointed by the Commissioners to examine the Titles of Estates proposed to be settled , must not be extreamly negligent and blame-worthy , if all the Subjects in the Kingdom be injured to the Value of 500000 l. by undue Settlements ? Vide Query 19. Q. 15. If we were certain that several of the Subjects in the Nation would be injured to the Value of a Million by undue Settlements , whether that Consideration ought to be any Hindrance to the Settlement of Estates by my proposed Method , which I will prove will be above 100 Millions in value Advantage to the Estates of the Kingdom ? And whether the Nation had not better make good the Loss of such particular Persons , ( if any should be ) than to lose those great Advantages , that will arise by these proposed Settlements ? Vide Queries 17 , 18. Q. 16. If the Money advanced on the late Funds had been raised by my proposed Method , whether the Subjects would not have saved much more than can be lost by undue Settlements ? Vide the Tables and their Uses , in pag. 32 , to 40. Q. 17. If a Man can ( at any time ) take up the Value of 20 Years Purchase in Bills of Credit upon his Estate , and may therewith clear his Estate , and provide for his Children , and sink but one tenth Part of his Yearly Income for the Use and Benefit of the same : or if a Man can advance such Bills of Credit to their Majesties upon the Security of a Parliamentary Fund , and be exempted from Taxes , and have 50 or 60 l. per annum added to every 100 l. per annum Estate he hath , whether Estates in Land will not be worth 40 or 50 Years Purchase ? Vide Proposals 17 , 19 , 20 , 22 , 23. and the Tables in pag. 32 , to 37. Q. 18. If a Man can buy a perpetual Rent-Charge of the Crown , free from Taxes , for 12 Years Purchase , and can take up any Sum less than the Capital , or purchase Money , at an Hour's warning , for 5 or 6 l. per cent . per annum Interest , and pay it in again whensoever he pleases ; or if he can have 60 l. 16 s. 8 d. per annum Interest for 2000 l. value in Bank-Bills , and have in effect 2000 l. always lying by him ; whether any Man will give 20 Years Purchase for Land loaded every Year with Taxes , and upon which he cannot without great Charge , loss of Time and Difficulty , take up one half of the Purchase-Money paid by him for his Estate ? Q. 19. If any Person should settle an Estate to which he hath no Right , and shall take Bills of Credit to the Value of 20 Years Purchase upon the Credit of such Estate , whether the remaining Part or Fee of the Estate will not be worth much more to the Right-owner , than the whole Estate will be worth , if no such Settlement be made ? Vide Query 17. Proposal 7. Q. 20. Whether a Trustee , or Guardian , who is not now able to sell , will be able to settle the Estate of any Orphan , or other Person of whom he hath the Care or Guardianship , if an Act of Parliament should pass for these Settlements ? And whether such Trustee or Guardian will not be as accountable for his Trust in case this Act should pass , as he now is before the passing such Act ? Vide Prop. 7. Q. 21. Whether the Ruining our Trade , the Impoverishing the Nobility and Gentry , the Burdening the Subjects with Funds , the Bringing Land to 14 Years Purchase , the Flinging the Money and the Estates of the Kingdom into a few , or into unsafe Hands , the Carrying the Money out of the Kingdom to pay the Interest for Money advanced by Foreigners on the late Funds , will not be of far worse consequence , and more mischievous to their Majesties and the Kingdom , than can be all the undue Settlements which we can reasonably imagin , or suppose may possibly be made ? Q. 22. Whether the exempting the Nobility and Gentry from Taxes , and making their Estates much more valuable ; enlarging their Yearly Incomes , enabling them to clear their Estates , and to raise Portions for their Children ; the encreasing Trade , Navigation , and Building of Ships ; the setting to work Handicrasts , Artificers , and all the idle Hands in the Kingdom ; the bringing new Manufactures into the Nation , the burdening the Subjects with fewer Funds ; will not be an Ease to the Subjects , enrich the Nobility and Gentry , and make the Nation vastly rich by our great Trade to foreign Parts , and be a most unspeakable Obligation to the Nobility and Gentry , and all the Subjects in the Kingdom ? And whether it will not river them not only in Interest , but in Affection to their Majesties ? Vide the Tables and their Uses , pag. 32 , to 40. POSTSCRIPT . SOmetime after I had drawn up my Proposals in order to present them to the Parliament ; which is now about three Months ago ; and since I have been printing them , I have been several times caution'd not to publish or propose any thing to the Parliament that might be opposite to the Interest of the Bank of England ; for if I did I must not expect to succeed , because the Gentlemen of the Bank had a very great Interest in the Parliament , and would be too hard for me : And another told me that they would certainly cross-bite me ; to which I replied , that it was no hard matter to foil me , but that the Controversy ( if any were ) would not be between the Bank and me , but between the Nobility , Gentry and Free-holders of England , who were almost ruin'd with those Funds , and the Bank ; and therefore I was not sollicitous about it , having also such an Opinion of many Members of the Bank , that I did not doubt but they would have preferr'd the publick Good of the Kingdom before any little narrow Interest of their own ; insomuch , that the Person whom I first pitch'd upon to show my Scheme to for his Approbation , is one of the Members of the Bank , and none of the meanest of them , but he being at a considerable distance in the Country prevented me . And sometime since a Friend of mine , whose Name I shall not mention , proposed to bring the Deputy-Governour of the Bank and me together , telling me I was a thinking Man , and that it might be for my advantage to be acquainted with the Deputy-Governour : I thank'd my Friend , but altho I have a great Respect for the Deputy-Governour , as being a very deserving Person , yet ( for some Reasons ) did not close with his Offer : however , they have ( as they call it ) cross-bit me ; and I resolve to let the Parliament and the Gentlemen of the Kingdom know so , and that these Acts of Grace lately publish'd by the Directors of the Bank were not design'd in kindness to them , but to render ineffectual what I had to propose to the Parliament : for having in the Preface to my Discourse on the late Funds , mentioned how destructive these Funds are to Trade , and that Exchequer-Tallies , Debenters and Sea-mens Tickets sign'd by their Majesties Commissioners were less esteemed than a Note under the Hand of an ordinary Tradesman , to the great diminution of the Honour of the Nation ; these Gentlemen publish'd an Order in the Gazette dated the 3 d and 10 th of September last , That all Persons who have Tallies and Orders on Funds , &c. which are not remote , may have Money for them without any Allowance ; together with all past Interest to the day on which they were brought : and that Foreign Bills of Exchange will be discounted after the rate of 4 l. 10 s. per Cent. per Annum . This was but a small Bite ; but whereas in Pag. 18 , 19 , 20. and in several parts of my Treatise I set forth the sad Condition of the Gentlemen , as well as the trading part of the Nation , occasion'd by the late Funds , and that Gentlemen whose Estates are in Mortgage are called upon for the Money , and know not how to raise it , and are therefore ejected out of their Estates , and barr'd of the Equity of Redemption ; and in my Manuscript had introduced the Gentlemen , laying these their Grievances before the Parliament , which I omitted printing for fear of being too tedious : The Directors of the Bank being conscious of the Truth of what I had writ , and supposing it might put the Parliament out of Humour with them , to cross-bite me ( for I shall not forget that Expression ) publish'd the following Order in the Gazette of the first Instant . The Court of the Directors of the Bank of England give notice , That after the first day of January next ( when they have paid into the Exchequer the Remainder of the 1200000 l. subscribed ) they will lend Money on Mortgages and real Securities at 5 l. per Cent. per Annum . And I doubt not but they will publish the same in Monday's Gazette again , being the day before the Parliament meets ; for there is nothing like to timing of Business , especially when they know so dangerous a thing as my Treatise and Proposals is to come before the Parliament . And I hope they will bite me again , and offer the Parliament when they meet , to furnish their Majesties with their Bank-Bills for 5 l. per Cent. too . But that which is one of their Master-pieces , is one of their Bylaws concluded yesterday , Novem. the 2d . at a General Court. Which because every one may not understand the meaning of , I shall unfold it . The Gentlemen of the Bank knowing my Proposals to be so just and reasonable , and for the great Advantage not only of their Majesties but of all the Subjects in the Kingdom , they feared that the Parliament would be ready to receive my Proposals , which they supposed would endanger the Bank ; this it seems put them upon considering how to bassle my Design . They could not object against my proposed Fund , for that would have brought an old House upon their Heads , to maintain that a Fund payable out of the Excise , is more valuable than a Fund settled upon the security of Gentlemens Freehold Estates ; nor could they therefore maintain that any Man might be injured by taking these proposed Bills of Credit , secured by such a Fund : it was also no less evident that it is better for the Nation to have their Majesties supplied with Money , at 3 l. per cent . per annum , who do now pay the Bank above 8 l. per cent . per annum , and that there would be occasion for fewer Funds , and that it must needs be a great Ease and Satisfaction to the Nobility and Gentry to be excused from Taxes , and to have a considerable Addition to their yearly Estates : nor can they deny but many a poor Soul would be relieved by this proposed Method , whose Estates are intangled , and who between the Taxes and Interest-Money , are reduced to such straits that they even want Bread for their Families : nor is it less obvious that there are many who are pinch'd in their Fortunes , and cannot spare their Children any thing while they live , but are forc'd to turn them adrift into the World without a penny to help themseves , that by my proposed Method , would be enabled to provide for their Children plentifully with a very small dimunition of their yearly Estates : and they must be forc'd to acknowledg , that it will be a great encouragement for Merchants and Traders to have Money to trade with at 3 l. per cent . per annum ; and that the Trade of the Kingdom would be very much enlarged thereby . Well , what Arguments will they use with the Parliament against my Proposals ? why , say they , we will acquaint the Parliament that these Proposals are not practicable , for the Nation will be so pester'd with these Bills of Credit , that we shall have more of them than we know what to do with : but this say they he hath unluckily answered , ( which I shall give in the words of my Manuscript , having varied some thing from it in my printed Book ) viz. The Bank of England is not limited to any Sum , but may issue out Bank-Bills for 50 Millions , ( if they please ) for which the Nation hath only a personal Security , of whom several are Foreigners , and consequently the Subjects may be losers ; whereas no Bills of Credit can be issued out until a sufficient Security out of Gentlemens real Estates be first settled . Yes say they , but there we have cross-bit him again by our Order or By-law , at the last General Court , held at Grocers-Hall , the 2 d of this Instant November , viz. That the Governour , Deputy Governour , and Directors , shall not borrow under the Common Seal any Sum exceeding in the whole 1200000 l. upon the Penalty of 1000 l. &c. And now I hope I have unriddled and shown the meaning of that Order or By-law , which doubtless made many thinking Men at a stand to know the meaning of it : so that our mighty Bank , that is to help their Majesties with I know not what great Sums , and to furnish all the Gentlemen in England with Money , upon the Security of their Estates , at 5 l. per cent . per annum , and to set up a Lumber to lend Merchants and Tradesmen , Money upon their Goods , and to perform I know not what other extraordinary Feats , and supply the defect of many Millions of Money , for to serve a turn and to cross-bite me , are contented to dwindle for the present into a little diminutive Bank of 1200000 l. Well Gentlemen , but cannot those who made those Orders when their turn is served , and that they have thereby baffled my Proposals , break those Orders again , for great and weighty Reasons ? but I hope the Parliament will not suffer themselves and the Nation to be cross-bit , tho the Gentlemen may use their pleasure with me . What I have proposed , is for the good of the whole Kingdom : it lies in the Parliaments Power , if they please ( and I cannot but hope they will ) to make this the most flourishing Kingdom , and the Subjects the most happy People in the Universe ; to whose great Wisdom , I have humbly submitted my Proposals , and withal this as an undoubted Maxim , That nothing can be more Fatal to any Government , than to discountenance and cross-bite those who make it their Study to promote the Good and Welfare of it . But I am well satisfied , I shall meet with no such evil Treatment from their Majesties or the Parliament . FINIS . The CONTENTS . NO Nation better situated for Trade than England , page 5. Trade the Medium to convey Riches to a Nation , ibid. The Parliament necessitated to raise Money on the late Funds , ibid. The Encouragement given to those who raised Money on the late Funds detrimental to Trade , and injurious to the Nation , ibid. Remarks on the Million-Act , Lottery-Act , and Bank of England , p. 6. Table of the Million-Act , p. 7 , to 9. Table of the Lottery-Act , p. 9. Table of the Bank of England , p. 10 , 11. Application of the Tables , p. 12. The many Evils that attend the raising Money on the late Funds , p. 13. It is ruinous to Trade , p. 14 , to 16. Objections answered , p. 16 , 17. The late Funds a Means to carry the Money out of the Kingdom , p. 17. They abate the Value of Lands , p. 18. Bank-Bills preferred before Land , p. 19. Objections answered , p. 19 , 20. The Bank of England may get all the Money of the Kingdom into their Hands , p. 21. May purchase Gentlemens Estates at their own Rates , ibid. Objections answered , p. 22. The Proposals , from p. 23 , to 30. Advantages their Majesties and the Subjects will reap by these Proposals , p. 30 , 31. Four Tables of Interest and Annuities , p. 32 , to 34. Use of the Tables , p. 36 , to 38. Objections answered , p. 38 , to 46. Several Queries , p. 46 , to 51. Postscript , p. 52. Errata . Pag. 24. lin . 2 , 3. for Proportions read Proprietors . p. 30. l. 24. f. inseparately read 〈…〉 the Title of the 2d Table , l. 2. take away the Semicolon after Million .