An ANSWER to a late Pamphlet, entitled, Reasons offered against the intended Project, commonly called, The National Land-Bank, etc.  
SUch is the Vanity of some who appear in Print, that how ridiculous soever their Positions are, if none think sit to give them an Answer, they fancy no Person is able to hold the Cudgels against them: of which Number is the Author of the  Pamphlet, who having printed and dispersed the same about two Months ago, and great Numbers of them lately, and no Reply having been made thereunto, he and his Adherents give out, that the said Pamphlet is unanswerable: Not knowing therefore what Impressions the same may make of such who may read it over superficially, but will not spare time to examine into his Arguments, I shall (with what Brevity I can) d●… the Fallacy, and discover the Weakness of them.  
And 〈◊〉, Our U●…r (for such an one I am credibly informed he is, and therefore I hope he will not be o●…d for calling him by that Name, especially since he thinks fit to conceal his own ●…tells 〈◊〉, ●hat if Money were reduced to 3 l. per Cent. per Annum, and Lands raised thereby in the Sale to 30 Years Purchase, yet it would be but an Imaginary, not Real Improvement to Lands; for th●…f upon such supposed Reduction of Interest-Money, Lands of the value of 100 l. per Annum were sold for 3000 l. in Money, which before could be sold but for 2000 l. yet such Lands would not be really improved thereby, or the Seller be one whit the richer.  
In Answer to which, I take our Usurer's meaning by the words Improvement to Lands, to be, a putting the Freeholder in a better Condition than he was before, by such Reduction of Interest, and raising the Value of his Land to 30 Years Purchase. Now to show the Weakness of his said Argument, I will suppose, that a Man hath 100 l. per Annum, and wanting 1500 l. upon his Estate, he applies himself to our Usurer to help him to the Money, who, in the first place, tells him, that 100 l. per Annum is too scanty a Security for 1500 l. But however, if he will pay 6 l. per Cent. per Annum Interest, being 90 l. per Annum 1500 l. But however, if he will pay 6 l. per Cent. per Annum Interest, being 90 l. per Annum for the 1500 l. and give him a handsome Gratuity for the procuring of it, and a small Acknowledgement of 10 or 15 l. every half Year when he pays the Interest-Money, he will do what he can to get it for him; and this Offer (how unreasonable soever it be) our Freeholder must comply with if he be necessitated for Money. But I come and propose a way to the Freeholder how he may have 1500 l. on the same Security for 3 l. per Cent. being no more than 45 l. per Annum, and that without any farther Charge; and if he will sell his Estate after such Reduction of Interest, he shall have 40 Years Purchase for it (for Land will be worth 40 Years Purchase if Interest be reduced to 3 l. per Cent. per Annum). I fancy our Usurer will not he able with all his Rhetoric to persuade the Freeholder that this is but an imaginary, and not a real Improvement of his Ellate, and that he is never a whit the richer.  
Ay, but, saith our Usurer, after such Reduction of Interest-Money, 3000 l. in Money would be of no better Value than 2000 l. was before; but on the contrary, every 20 Shillings of Yearly Rend will be proportionably of so much less Value as the Interest of Money shall be reduced. And here I shall take this opportunity to acquaint my Reader, that our Usurer throughout his whole Pamphlet values Money only as it yields high Interest, and not as it is a Medium of Trade, or as Gold and Silver are convertible to other Uses: For, reckons our Usurer, if I can have but 90 l. per Annum Interest for 3000 l. after Interest-Money is reduced to 3 l. per Cent. and I can now have 120 l. per Annum for the Loan of 2000 l. then 2000 l. now is more worth by one third, than 3000 l. will be after such Reduction of Interest. This indeed is well enough argued for a Usurer who proposes to get this 120 l. per Annum for the Loan of his 2000 l. from some honest Freeholder, payable half yearly, under no less Penalty than to be ejected, or else out of the Sweat of some poor Tradesman's Brows, who must slave Night and Day to pick up this Interest-Money, and provide for his Family.  
But to be more fair and candid than our Usurer is, I will prove, that in an honest way of Trade (for I do not look upon Extortion to be such) every 100 l. in Money (after Interest shall be reduced to 3 l. per Cent.) will be of equal Value with 100 l. while Interest is at 6 l. per Cent. per Annum: And though I could give forty Instances, I shall trouble my Reader but with one, viz. A and B have each of them 100 l. per Annum, A sells his 100 l. per Annum before the Reduction of Interest for 2000 l. and employs the same in Trade to the East-Indies; B one, two or three Years after (Interest being reduced to 3 l. per Cent. per Annum, and Lands consequently raised to 40 Years Purchase) sells his 100 l. per Annum for 4000 l. and employs it in like manner in the East-India Trade: I appeal to any indifferent Person who hath the better Estate A or B, whether B hath not more than an Imaginary Improvement of his Estate by such Advance of Land, and whether he may not in reason expect a Return of double the Value that A has?  
But says our Usurer, This Project of reducing the Interest of Money to 3 l. per Cent. per Annum, doth manifestly invade the Properties of all such who are possessed of Personal Estates, by sinking the very Inheritance of their Money, to which every one hath as, much right by the Law as to his Lands. By the Inheritance of Money here is meant the Usurer's high Interest of 6 l. per Cent. per Annum, which by long Custom pleads Prescription, and is now, it seems, become an Inheritance. But, pray, how is any Man's Right invaded by the Reduction of Interest? Has not every Man as much Right to his Money when Interest is low as when it is high? Has he not the same liberty to buy and sell, or do any thing with his Money as he had before such Reduction of Interest? or, is Money noway improveable but by letting out to Interest? if it were not, Usury itself would be soon at an end; for no Tradesman would borrow Money at Interest, but in hopes of making a greater Advantage thereof than what he must pay.  
Ay but, says our Usurer, The Daughters and younger Children of most Families in England, if the Interest of Money should be so reduced, will be totally ruined, as not being able to subsist upon their Portions. When the Usurers by their high Interest have utterly ruined so many Families in England, and have turned so many thousand Daughters and younger Children out of Doors, it must be something extraordinary that causes such unrelenting Wretches to plead on the behalf of Daughters and younger Children: but their high Interest (here called Inheritance of Money) being, as they apprehend, in danger, our Usurers call in to their Aid young Women and Children; and I would desire if it could be done, that the Daughters and younger Children of such who have been ruined and undone by merciless Usurers might also appear, and I am of Opinion there would be a far greater Number of such poor Creatures, than of those who can be prejudiced by the Reduction of Interest. But to the Argument, The Daughters and younger Children he mentions must be at Age, or are Minors; if they are under Age, how few of them have any Interest at all allowed them for their Money? For the Executor, or such who have the Guardianship of them, knowing if they lend out the Orphan's Money, they must make it good to the Orphan in case it be lost; few will lend out such Money upon their own Risque, but they will take the Interest-Money to themselves: so that 'tis plain such Orphans during their Minority are not at all affected with the Reduction of Interest. As to those who are at Age, they will have the same Money they had to use in any lawful Calling; though they will not have so much coming in to maintain them in Idleness, and to live upon the Labours of others: but withal I must put our Usurer in mind, that there are many Widows and Children whose All is in Land charged deeply with Debts, who will be preserved from Ruin if Interest be reduced.  
But proceeds our Usurer, Lands must be very much deeper charged, even almost double what they formerly were, for the Portions of Daughters and younger Children, or else a sufficient Provision and Maintenance cannot be made for them, which will inevitably ruin all the small Estates in England. By our Usurer's Provision and Maintenance is to be understood high Interest, and I find he can think of no other Maintenance for them: Well, admit a Man has a mind to make such Provision and Maintenance for his Child as our Usurer means: And suppose a Man should charge 100 l. per Annum with 1000 l. for his Daughter's Portion, Landand being at 20 Years, and Interest at 6 l. per Cont. May not this Man as well charge the same Land with 2000 l. if Land be worth 40 Years Purchase? And if Interest be at 3 l. per Cent. is there not as much coming in by way of Interest, as if he left his Daughter but 1000 l. and Interest at 6 l. per Cent.? and will not the 2000 l. be esteemed a more noble Portion than the 1000 l. though it brings in but the same Interest? and will not the Remainder of the 100 l. per Annum, so charged be as much worth as the 100 l. per Annum now is without a Penny charged upon it? This is such stuff, that none but a Usurer who is infatuated with 6 l. per Cent. per Annum, would publish to the World.  
But says our Usurer, The industrious People of the Nation, either in Professions or Trades, if this Project of reducing the Interest of Money to 3 l. per Cent. per Annum should take effect, will suffer much thereby. Now I would willingly know what sort of People these are whom he calls the industrious People of the Nation, that will suffer by this Project: he cannot mean the poor industrious Trader, who is forced to take up Money to drive his Trade, and pays 6 l. per Cent. per Annum Interest, for he will have an Advantage by the Reduction of Interest; it must then be the rich industrious Traders, who having overgrown Estates turn Usurers: so that it's plain our Usurer's Charity extends no farther than to those of his own Profession.  
But proceeds our Usurer, The Stocks and Effects of all Traders are to be valued by Money; so far we agree. But says he, If every Sum of Money be of much loss value, by reducing Interest of Money to 3 l. per Cent. per Annum, than it was before, it is a certain Consequence, that the Stocks and Effects of all Traders will be in Proportion of so much less intrinsic Value as the Interest of Money shall be reduced. That is, Goods which are worth 100 l. when Interest is at 6 l. will be worth but 50 l. when Interest shall be reduced to 3 l. per Cent. and consequently worth nothing if no Interest for Money be given. Now this is such Trumpery that 〈◊〉 Man in his Senses would assert. As for Example; A Tradesman hath 2000 l. 〈…〉 Goods, suppose Indigo, Sugar, Tobacco, or any other Commodity, now Interest 〈…〉 l. per Cent. but before he shall have disposed thereof, we will suppose Interest should ●…nced to 3 l. per Cent. our Usurer may as soon persuade the Tradesman that the Moon is made of Green Cheese, as that his Commodities of 2000 l. Value are not worth 1000 l. or 〈…〉 re was a Law made to prohibit the taking of any Interest at all, that his Goods were worth nothing, because he cannot if he sells off his Stock turn Usurer. There are many in the World who question the Lawfulness of all Usury; but our Usurer laying aside all Considerations how Money may be improved in the way of Trade, or by any other laudable Undertaking, he forms all his Arguments in favour of high Interest, which is so destructive to Trade, a Bar to Industry, and the very Bane and utter Ruin of Families, nay of Kingdoms, high Interest being a certain Concomitant of Poverty, and brings Ruin and Desolation with it wheresoever it comes.  
But says our Usurer, It will be hardly possible for People in Professions and Trades to raise a competent Estate wherewithal to provide for themselves and Families, than which nothing can be a greater Discouragement to the honestly industrious Part of the Nation. Here our Usurer I doubt hath drawn the honestly industrious into a narrow compass: I have proved already that it is not the poor but the rich industrious part of the Nation that he means.  
But adds our Author, The chief Ingredient into the Composition of this Project is, viz. That some Men who now own a great deal of Money upon their Lands will be in some measure eased at present, by reducing of Interest-Money to 3 l. per Cent. per Annum. It is well he will grant it eases some body; but says he, It is no ways consistent with the public Good, nor yet with common Justice, that some indebted Persons should be eased by such means as are manifestly injurious to the rightful Properties of all others who have Estates either in Land, Money or Trading Stocks, and which highly tend to the Discouragement of all Industry.  
Here our Usurer's true Charity gins to appear, and he who was just now pleading on the behalf of the Daughters and younger Children, is now bringing his Arguments to justify the Ruin of their Fathers; for the Gentleman's Estate is in Clutches, and he is very unwilling to part with it. The Gentleman is endeavouring to put himself into a Capacity to pay our Usurer his Money, and the Usurer cries out, it is not consistent with the Public Good, nor common Justice, that the Gentleman should ease himself by such means. By what means, I pray? why, says our Usurer, by such means as are injurious to the rightful Properties of all others. Pray, what does the Gentleman that can be said to be injurious to another Man's Property? Why, the Usurer tells us in a different Character, That there are a Number of Persons forming themselves in a Body without lawful Authority for the same, and pretend at their own pleasure to govern and model the Rights and Properties of others their Fellow-Subjects. Pray, wherein, Mr. Usurer, do they go about to model and govern other men's Properties? Can any thing in the World be more just and honest, than for Gentlemen to meet together to consider which way the Freeholders of England (whom it is well known have upon all occasions contributed largely towards the carrying on the War, and Support of the Government, while the Usurer hath paid little or nothing for Taxes) may be able to pay their Debts and clear off their Encumbrances, by raising a Credit out of their Freehold Estates? and may not they as reasonably expect a Credit should be given them upon such their Estates, as others have upon far less Securities, and thereby rescue themselves and Families from impending Ruin? Is any Man's Property invaded by a Gentleman's getting Money upon his Estate for 3 l. per Cent. to pay the Usurer his Money, to whom he now gives 6 l. per Cent. and who probably is not contented therewith, but is for ejecting the Gentleman, or for fore-closing him in Chancery? And therefore, with Submission, Mr. Usurer, I see not those Inconveniences you would suggest, That things will thereby be diverted and turned out of their ancient Course and Channel, and that a multitude of ill Consequences will attend this Project, as you are pleased to term it.  
And now, Mr. Usurer, whether you are pleased with it or no, I value not, you who accuse me for having not dealt candidly with the Nation, by imposing an evil Design for the public Good under a good Name. I must tell you you talk like an Usurer, and arraign me for endeavouring to ruin Daughters, younger Children, Traders, etc. by lowering of Interest, etc. when your plain Design is to keep the Freeholders' Neck still under the Yoke, and by the continuance of high Interest to crush thousands of poor Families, who are under sore Pressures, and whom you well know have no probable way left them to escape your Usurious Talons, but by means of the National Land-Bank.  
I have been credibly informed, that there are a Club of Usurers and others who meet three or four times every Week towards the Temple, to draw up weighty Arguments and Reasons to be offered to the Parliament against the said Bank, and that they intent to get. Petitions to the approaching Parliament against the National Land-Bank. And in the Close of the Pamphlet, our Usurer invites all who are Wellwishers to the Public, and who value their own rightful Properties, together with the Good of Posterity, to use their utmost Endeavours in a lawful way, that the aforesaid Project, styled the National Land-Bank, may be quashed and suppressed, as being of the same nature with Monopolies.  
When our Usurer hath been pleading for the greatest Monopoly in the World, viz. a Monopoly of Credit; for he will not bear that the Landed Man should raise any Credit upon his Estate, but what he pays 6 l. per Cent. per Annum for, he tells us the same is of the nature of Monopolies: Surely our Usurer forgets himself, for I am well satisfied he cannot think it is of the nature of a Monopoly, for all the Freeholders of England to have a Credit upon their Estates for an easy Consideration. But I think I have said enough to open People's Eyes; and since our Usurer does call upon all the Wellwishers to Usury to stand up for their rightful Properties of 6 l. per Cent. per Annum Interest, and to oppose to the utmost the National Land-Bank; I hope the Freeholders of England, seeing they have such fair notice given them that they are to be attacked, will not be supine and negligent, but that they will apply themselves to their Representatives in Parliament, and Humbly request them to take the Case of the Freeholders in Consideration this Session, they having upon all occasions contributed out of their Estates for the Support of the Government, while the Usurer hath in a manner been totally exempted from Taxes.   

POSTSCRIPT.  
I Desire our Usurer, or those Gentlemen of the Club near the Temple, when they offer any farther Reasons against the National Land-Bank, to answer these following Queries.  
Whether there be Money in specie in England sufficient to drive our Trade?  
If there be not Money in specie sufficient for our Trade, whether we must not make use of Credit to supply that Defect, or must leave Trading?  
If a Credit be given, whether it ought not to be given upon a secure Fund?  
Whether there can be a better Fund than Land-Security?  
If no Credit were allowed to be given, but all Persons were obliged to pay ready Money down, whether Interest of Money would not be above 6, 8 or 10 l. per Cent.?  
If Credit supplying the Defect of Money abates the Interest of Money, why may not the Freeholders of England have a Credit upon their Lands, as well as others upon their bare Notes, without paying 6 l. per Cent. per Annum for the same?  
If twenty Millions value in Bullion were imported and coined into Money, whether such plenty of Species would not bring Interest-Money under 6 l. per Cent. per Annum, and be as great an Invasion upon the Usurer's Property of high Interest, as the Gentleman's endeavouring to raise a Credit upon his own Estate? And,  
If Circumstances of Affairs would admit of it, whether we must be prohibited bringing in any great quantity of Gold and Silver to be coined, for fear of injuring our Usurer's Property, by creating plenty of Money, and consequently abating high Interest?  
If our Merchants and Traders give 6 l. per Cent. and our Neighbours but 3 l. per Cent. per Annum Interest, whether upon the same foot of Trade, they cannot get by their Trade more than we can by 3 l. per Cent. and consequently out-trade us, and we lose our Trade?  
If a Foreigner can take up Money at 3 l. per Cent. and send the same hither, and let it out to Interest at 6 l. per Cent. whether such Foreigner does not draw every Year 3 l. per Cent. per Annum out of England, which for a Million value is 30000 l. per Annum loss to the Kingdom?  
Whether it be a greater Evil to reduce Interest from 6 to 3 l. per Cent. naturally and without Compulsion, than to low it from 10 to 8, and from 8 to 6, as hath been done by Authority of Parliament?  
Whether those Parliaments who wisely reduced the Interest of Money, did in so doing invade any Man's Property?  
Whether England did not grow much richer, and extremely enlarge their Trade after Interest of Money was reduced from 10 to 8, and yet more when it was brought from 8 to 6 l. per Cent. per Annum Interest?  
Whether the Tradesman who pays but 3 l. per Cent. or he who pays 6 l. per Cent. Interest, be the most likely to live and provide for his Family?  
John Briscoe.  
FINIS.