REASONS humbly offered for the Establishment of the National LAND-BANK.  
AS it is matter of Admiration to some, so doubtless it is no small Diversion to others, to see several of the very same Gentlemen, who for some Years past have so strenuously opposed the Establishment of the East-India and African Companies, alleging they are Monopolies, and Infringements on the Rights of the Subject, labouring to support the greatest of Monopolies, viz. A Monopoly of the Money and Credit of the Kingdom. For notwithstanding what hath been urged in a late Pamphlet to the contrary, (entitled, Mr. J. A. his Argument no Argument) it is most certain, if no other Bank be set up by Authority, the Bank of England will soon be Masters of both; the whole Series of their Management having a Tendency that way, as may appear by many Instances too fresh in Memory to be denied.  
And first, to get all the Money into their Hands, they issued out their Bills with 2 d. per cent. per diem Interest, which in probability they would have done for an unlimited Sum, but finding their Credit grow to a great height, and that their Cashiers Notes, which obliged neither the Fund nor themselves, had obtained a mighty Currency, they confined their Interest-Notes to the Number of twelve thousand.  
They also published their Orders to discount Bills at 2 d. per cent. per diem Interest to all such who kept their Cash in the Bank; so that all Persons must keep their Cash with them who expected any Accommodation from them.  
To engross the Credit of the Kingdom to themselves, they refused to take all Bills or Notes but what paid a Tribute to them by way of Discount, or unless they were the Notes of such Persons who kept their Cash in their Bank; and where they have boar any Man a particular Grudge, they have rejected his Bills or Securities with such Innuendoes, as hath been sufficient to stagger a good Man, and to render his Credit suspected.  
Having briefly observed how disingenuously they have dealt with the Merchant, it may not be amiss to inquire what Treatment Gentlemen have met with.  
To secure their Establishment, and to keep off the impending Storm which threatened them last Sessions of Parliament, they published the following Order in several Gazettes, viz.  
The Court of 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.  
What will not these Men do who will prostitute their Faith to the whole World to gain their Ends? for it was evident, 
* See the Postscript to the Discourse on the late Funds.  and they were then told so in Print that they never intended it. For notwithstanding such frequent Publications they served the Landed Men all alike without Distinction, trifling even with such Gentlemen who were instrumental in giving a Being to the Bank itself, and tiring them out with tedious Delays and Attendances, ordering them sometimes to wait upon the Counsel of the Bank, whose private Instructions (if one may judge by their Actions) was not so much to examine the Writings in order to accommodate them with Money, as to find out the least I law in their Titles, that they might get rid of them as genteely as they could; and if no reasonable Exception could be made, they have referred them from time to time to their Committee of Mortgages, who as they did not sit often, so they took care not to dispatch overmuch Business at their Meetings. Others again, whom they less valued, were with a short Answer sent packing out of Town with their Writings, to get Money where they could find it.  
And because the Author of the  Pamphlet would impose upon the World in saying, that the Bank of England have applied all their Money and Credit to the Supply of His Majesty, and the Encouragement of Trade; and that that Bank would have lent Money to the Landed Men if they had had it to lend: It is certain that nothing is more true than the contrary; for 'tis well known that Bank did not advance their All to his Majesty, etc. that they took in no more than 720000 l. of their Subscription-Money, and that there remained 480000 l. in the Subscribers Hands, who paid no Interest for the same, which (had they had a mind to do) the Directors might have called in at a day's warning, and have supplied the Landed Men therewith as in Honour they were obliged to do.  
These things being duly weighed and considered, I hope every one will see the necessity of establishing another Bank, and that upon another foot than that of the Bank of England, for the following Reasons.  
First, It is certain, as has been observed, that the Directors of the Bank of England have endeavoured to monopolise the Money and Credit of the Kingdom: and of what dangerous Consequence it may be, should they effect it, is most visible to any who will but consider the Constitution of the Bank.  
For the Bank consisting only of a Fund of Money which is transferrable, and the Votes for the Choice of the Directors attending the Stock, 'tis plain that those who have the Major Part of the Stock, have the Major Part of the Votes, and may make what Directors they please; who by virtue of such Election will have the Government, and consequently the Power of the Cash and Credit of the Bank in their Hands. Now if Money will buy the Stock; if the Stock commands the Votes; if the majority of Votes choose Directors, and if those Directors have the sole Dispose of the Money and Credit of the Bank, and the Stock being to be bought and sold every Day upon the Exchange by the Common Brokers, the most professed enemies of the Government, even the French King's Emissaries, if they will give the current Market-Price, may for less than 600000 l. be Masters of the Stock, and consequently of the Money and Credit of the Bank.  
Secondly; Before the calling in our Clipped and Counterfeit-Money, the then Money 〈…〉 land was computed not to exceed Five Millions in Tale, (an inconsiderable Sum to 〈…〉 so great a Trade) which would never have served, had not such Deficiency of 〈…〉 supplied by Credit; but now our Money is likely to be reduced to a yet less Comp●● 〈…〉 her Credit will be wanting to supply such Want of Species: now whensoever Credit 〈…〉 it aught to be upon a sure Fund, or else those who give such Credit may be Lo●● 〈…〉 there being no Fund in England so secure as the Land of England, or rather England 〈…〉  
It is humbly proposed, That a Bank may be established upon a Fund of Land, as 〈…〉 most safe and certain Fund, together with a Fund of Money to answer all Bills on demand that shall be issued out on the Security of such Land; which Bank may not only be serviceable to his Majesty, but will relieve the Landed Men, who are left destitute by the Bank of England.  
To prevent the Establishment of the Land-Bank, I am informed the Bank of England purpose to take the following Methods.  
First; As one of their Members advised them to make a bold Offer, to furnish the Government with Two Millions at 5 l. per Cent. per Annum.  
This, with submission, I take to be a strong Reason why another Bank ought to be established; for as the fear of the Establishment of another Bank has been some check to their Arbitrary Inclinations, and hath brought them to any Bounds of Reason, so nothing 〈◊〉 keep them within such Bounds but the Establishment of another Bank, which may stand in competition with them; besides it seems unreasonable, That one Society of Men should engross to themselves the Money and Credit of the Kingdom.  
If that fails, I am told they intent to join their Forces with another sort of Gentlemen, who are for making a Bank of the Exchequer, where Bills are to be given out for 4 Millions Value, payable at Demand, with Interest after the Rate of 3 d. per Cent. per diem, being 4 l. 11 s. 3 d. per Cent. per Ann. which if obtained, they hope to get the greatest Part of those Bills into their Hands, and keep them in Salva Custodia; by virtue of which Bills they will be entitled to a proportionable Part of the Incomes of the Fund to be settled for payment of the Interest of those Bills, and will issue out their own Bank-Notes without Interest in lieu of them; which Bills lying by them will notwithstanding, be always as so much Ready-Money to answer all Demands.  
How fatal and destructive such a Bank will be to the Landed-Men, is easily demonstrable; for if a Man can have Bills for 2000 l. which he may keep by him, and have 91 l. 5 s. per Annum coming in clear: and if the said Bills as the Projectors themselves in a printed Paper, entitled, The Mint and Exchequer united, confess, will pass current in Payment as well as Money, and be preferred even before Money; What Man in his Senses will not sell 100 l. per Annum Land, which is clogged with Taxes every Year, and invest his Money in these Bills? or who will lend or continue his Money on Land-Security?  
Much might be said in answer to that Paper, but I have not Leisure nor Room to insist upon it: The first Paragraph shows the Tendency of the whole, telling us, That it is reasonable that the Exchequer rather than private Persons should have the Benefit of the Credit which is needful for carrying on Trade and Commerce. The Projectors would have done well to have given their Reasons for it; and to show why the Subject, who must from time to time supply the Exchequer with Money out of their Estates, should not when they have parted with their Money for supply of the Government, have an Advantage by Credit; or in plain English, why it is not as reasonable that a Landed-Man, who pays one fifth Part of his Annual Income every Year for Taxes to the Government, should have a Credit upon his Estate when he has parted with his Money, as for the Exchequer to have his Money and the Credit too. I am sure those who teach such Doctrine, whatever are their Pretences, are no Friends to His Majesty's nor the Nation's Interest: For certain it is, the Interest of His Majesty and His Subjects are inseparable; and the more the Subjects are encouraged, the better able they will be to assist His Majesty, and to pay their Taxes.  
I am sorry to see that the Landed-Men are in such a dead Sleep, and that when all are looking out sharp how to get Estates, they concern not themselves how to preserve their own. A Mariner who sees a Wrack will endeavour to avoid the Sand; but the Landed-Men seem secure and unconcerned, notwithstanding the Wracks and Ruins of so many hundreds of them every Year: However, though they are unmindful of themselves, I hope their Representatives will take care of them, and establish a Land-Bank this Sessions in their favour.   

POSTSCRIPT.  
WHereas in Order to weaken the Landed Man's Interest in Parliament, and to obstruct the Establishment of a Land-Bank, it is reported, That by a late Agreement between the Directors of the National Land-Bank, and the trusties of the Land-Bank at Exeter-Exchange, the Landed Man was excluded by the said Agreement from any Interest in the said Bank. It is thought sit to signify, That the said Agreement, the Original whereof signed by the Directors and trusties of the said Banks, being ready to be produced, is in the following Words,  
We do hereby severally declare our Consent and Opinion to Unite and join together In procuring an Act of Parliament for establishing a Bank upon a Fund of Land and Money in such manner as the Parliament shall think fit. Dated the 3d of February. 1695.  
So that the proposed Establishment is submitted to the Wisdom of the Legislative Power.  
JOHN BRISCOE.