〈…〉 may make Gentlemen so sensible of the Benefit of Trade, as to Employ their Heads and Time to consult the best Laws and Methods to encourage it. This Method not only Secures the Persons Engaging their Estates in this Design, from being loser's, but makes them great gainers. It secures the Nation, as well as every particular Person, from any prejudice by the Tickets, because the Money lent as aforesaid, must be paid off, and Discharged by the Rent of the Land Mortgaged, which cannot be denied, but to be equal to the best Mortgages now in England. This Method will make us Masters of the best of Trades, and much more National than was ever yet pretended to: For this Company will be obliged to Build all their Ships and Busses, and to make all their Nets, and other Implements of Fishery in England, tho' they will at first, until by Custom and Use we grow expert in those Arts and Trades, cost us above 30 l. per Cent. more than we now have them Imported to us from Abroad. The making all the Necessaries for Fishing in England, will maintain many thousands of People now Chargeable to the Parishes: And by increasing Manufactures, that maintain and employ them (if convenient Laws could be obtained for Encouragement of Foreigners, to come and Inhabit here) we should have a great Increase of People, which will cause a great increase of Trade, which is the only way to raise the Value of Land, and to secure the same by Sea and Land against any Enemy. This Method, or Bank Credit, is no new thing to other Nations: being Established in the best Trading places in the World, tho' under worse Circumstances, as Holland, Hamburgh, Venice, and other places in Italy. Their Banks have no certain Fund, and are by most People Believed not worth one third of what they own, and yet their Credit is more Valuable than Gold or Silver Money, for 100 l. Bank Credit is frequently transferred for 2, 3, or 4. per Cent. advance, and never so low as for a 100 l. in money, Which is well known to Traders in Holland. Since than their Banks, with an uncertain Fund, appears by their long continuance, to be so Beneficial and Valuable to Trading Nations, why should not this? having a certain Fund, sufficient in the perfixt time to Pay off the whole Debt, which yearly Lessens, and the Fund accordingly Increaseth in Value: And carrying with it all the same benefits and conveniencies to our Nation: as they reap by theirs: besides the mighty National Advantage of this desired Fishing Trade. The sum of all is no more but to obtain a Charter to Incorporate such Gentlemen as are willing to engage their Estates to recover the Fishing-Trade, Esteemed so great and a Jewel to the Nation, and now possessed by Foreigners. And, tho' the Bills of Exchange of this Company have equal privilege with other Persons, to run upon their bare Reputation, yet none of their Bills are proposed to pass, without a greater value of Land be Tacked to them by the Parliament, according to a Method prepared, And lastly, That their Bills so settled, being more useful and valuable than Money of the best Gold or Silver, may, for the same reasons as Gold and Silver money is imposed, be made Current in all Public and Private Payments: which is no more than what time and Custom would introduce of Course, as is Demonstrable by such Bankers having the greatest Credit, as are but reputed to have the best Fund. And because nothing under Heaven can be so perfect, as not to admit of Objections, it is humbly hoped that it will be considered, whether the great Advantages certainly following this Undertaking, do not far out-ballance all the supposed Objections, which can possibly be brought against it, and may be easily cleared, when the Objections shall be Methodically made. It may not be amiss to add something here in defence of joint Stocks, because several Papers have of late been dispersed, which condemn them in General: It is confessed, joint Stocks which engross any Trade, ought not to be granted without good Consideration: But such joint Stocks, as neither Interrupts nor Prohibits any other to Trade the same way, is no more to be discouraged, than a Rich Merchant, because there are Poorer: besides There are these two Advantages in a joint Stock, first, many things can be put in Practice, which smaller Stocks cannot reach to. Secondly, Things of great hazard will be Attempted, when none can be ruined by their Failures. 〈…〉