London's Improvement AND THE Bvilder's Security ASSERTED, BY THE Apparent Advantages that will Attend their Easy Charge, in Raising such a Joint-Stock, as may Assure a Re-building of those HOUSES, which shall hereafter be Destroyed BY THE Casualties of Fire.  
As it was Presented on New-Years-Day last, 1679. to the Right Honourable, Sir ROBERT CLAYTON, Kt. the Present Lord-Mayor.  Multorum manibus grande Levatur Onus. 
LONDON, Printed for the Author, by Thomas Milbourn, in Jewen-Street, 1680.   

To the Right Honourable, Sir Robert Clayton, Kt. Lord-Mayor of the CITY of LONDON; And to the Right Worshipful, The Aldermen, and the Worshipful, the Common-Council of the said City.  
My Lord, and Gentlemen,  
IF this Paper shall presume with too much Confidence, to Crowd in itself amidst the weightyest of Your Affairs; and the Discourse therein be found too Weak, to make good those Public Advantages promised in the Title: Be pleased, in Favour of the Good Intention of the Designer, to Receive it as a Well-meant New-Year's-Gift, Offered to the Common Good of the City.  
The Design it brings with it, Is chief for the Improvement of the City-Buildings; by proposing a Way for the Raising such a Joint-Stock, as may Assure the Re-building of their Casualties happening by Fire.  
The Undertaking seems so Great and Hazardous, that a Million of Pounds Sterling, may be expected with it, to make it Practicable, to the Satisfaction of the several Interessed.  
This pretends not to be Accompanied with such a Bank; and yet in Prospect, it may equally Answer the Expectation of those that may be Concerned; and the Purchase thereof may be at a much Easier Rate, than can Rationally be Contracted for, with any Bank in the World.  
It cannot better be Compared, than to that in Practice amongst the Gentlemen of His Majesty's Lifeguard; who, at this Day, by a Mutual Agreement, Contribute towards the Buying of Horses for their Fellow-Soldiers, which either Dye, or become unserviceable; whereby the Rider is again speedily Mounted at the Common Charge; to which, perhaps, his Peculiar Stock could not easily Arrive.  
It is now designed, that the Houses which shall he Burnt down, may proportionably with as much Ease to the Proprietors, be Rebuilt amongst themselves, as those Horses are Bought at the small Charge of the Riders.  
Should Your Lordship, with the Right Worshipful the Aldermen and Common-Council, upon the Perusal, approve the Design to be for a Public Good; I shall not doubt of Your Zeal, in Promoting it that it may be made to appear the same in Practice, as it is Presented in the Proposals: Only, let me beg, That if it falls short of the End that it promises, That You would be pleased to Pardon the Presumption of Him, who out of a Tender Affection to his Country, and the Place of his Nativity, with all humble Submission, Dedicates this Offering to the Greater Wisdom of Your Lordship: And with all Reverence and Respect, Subscribes himself,  
My Lord, Your Lordship's most Humble Servant, A. N.   

London's Improvement, AND THE Bvilder's Security, etc.  
THE several Fruitless Attempts that have been made, in projecting a Design for Assuring the Building of Houses Burnt down, may be some Discouragement to offer more on that Subject: But This being well Approved of by many, to carry nothing with It but the Common and Public Good, after some Years lying by, is, at their Importunity, now exposed to a more General Censure. And that the Design may appear to be Rationally Practicable, and Beneficial for the Public Good, it will be necessary, First, To consider the Original of Assurances amongst Merchants: Upon Enquiry whereof, it will be found, that the Losses and Impoverishment, which have attended many by great Adventures in one Bottom, was undoubtedly the Cause that first Introduced those Assurances. And by that Means, there was a Mutual Agreement on a Praemio, or Consideration, That a Loss might be made Good, and divided amongst Many; which otherways might have fallen to a Particular Person, or some few Persons, to his, or their great Detriment, and Ruin.  
This Laudable Custom of Assurances, hath by Experience been found so necessary for the Support of Traders, that it hath been continued for many Ages; and is in Practice in most Parts of the World, at this Day. The Demolishment by Fire of the City-Buildings, may be of like Detriment, and Impoverishment to those Proprietors.  
This Fate being so Epidemical to them, that none knows how soon his Estate in those Buildings may be buried in its own Ashes; Reason and Experience, which hath introduced and continued the Custom of Assurances amongst Merchants, will direct the like Security to be admitted of, for Re-building and Repairing the Casualties of Houses by Fire, to those Proprietors and Inhabitants; both being Adventurers at a Hazard, though in a different kind and Element. And though the late New-Brick-Buildings in the City of London, are Reasonably well Defended by their Thick Party-Walls; yet, by sad Experience we find, each particular Man's Interest in those Enclosures, is, by the Effects of a small Spark misplaced, still liable to be carried away with a Flame: And when such an Accident of Fire shall happen to lay Levelly the Subsistance and Income of the Inhabitant or Proprietor (who is not in a Capacity to Rebuild those Casual●●● those Candle-Rents to such are little better than for ever Extinguished. Former Ages have felt the Strokes of this Formidable Enemy: We of late Years have seen a great part of our City laid in Ashes, by its Furious Rage. And who, though the last Burnt down, can be so secured, as not to be the next Demolished by Fire? This is our general Hazard and Grievance. And yet, At what a Cheap Rate might the Builders and Proprietors give themselves Ease in a great Measure, by counterballancing these Inconveniences? If we take an Account of the Houses in the City of London, they will be found so Considerable in Number and Value, that an Advance of Five Pounds per Cent. (though but of one Third Part of the Proprietors of the late New Brick-Buildings) in Proportion to the Value of those Houses, would raise a sufficient Joint-Stock, to assure a Rebuilding of every Casualty of Fire, which may happen amongst them. A Prospect of some things Considerable, which will accompany the Design, (to the Benefit of the Proprietors, and the general Good of the City) are hereunto added, and left to the Consideration of such as may be concerned in it.  
First, That which will make the Design practicable at an easy Rate and Charge, must be, the mutual Agreement of a considerable Part of the Inhabitants and Proprietors, to become Adventurers in raising the Joint-Stock, for discharge of the Undertaking: Many Hands Contributing, lightens the Loss, and gives Ease in the Charge of the Re-building and Repairing. Upon a Moderate Calculation of the City New-Brick-Buildings, and their late Years Casualties by Fire; if but one Third Part of those Inhabitants and Proprietors should make their Subscriptions of Five per Cent. according to the Value of their Houses, or Charge of Rebuilding, a Joint-Stock of Fifty Thousand Pounds might be raised amongst themselves, for carrying on this Design. We will believe, there are not less than Twelve Thousand Houses of the late New Brick-Buildings, in the City of London: These, one with the other, may be Esteemed in their Value, or Charge of Re-building, at Two Hundred and Fifty Pounds per House; which, at Five Pounds per Cent. will be Twelve Pounds, Ten Shillings on each House. So that, Four Thousand Houses (the Third Part of those Buildings, at Twelve Pounds Ten Shillings per House) will amount to Fifty Thousand Pounds. But should Subscriptions be made only of Two Pounds per Cent. for the whole Number of those Twelve Thousand Houses, in proportion to their said Value, a Joint-Stock of Threescore Thousand Pounds might be raised amongst themselves, for discharge of the Undertaking. And in probability, such a Stock, with the Improvement, might for ever perpetuate the Re-building of all the Casualties by Fire, happening to those Adventurers. And as it may be employed, in few Years they may receive Dividents out of the Improvement. So that, a perpetuated Assurance for a Re-building, etc. to be made by a Joint-Stock, raised in proportion to the Value of the Houses, will be found to be more Advantageous, and purchased at a much easier Charge, or Praemio, to the Adventurers, than should such an Assurance be undertaken, but for One Years time, by a private Hand.  
Secondly, This Joint-Stock thus to be raised for discharge of this Undertaking, will cause a Mutual Participation of Rejoicing one with another, in their Preservation; and will be a Comfortable Relief, and a Secured Reparation, in case of Future Demolishments. And undoubtedly, this Security, as it will be an easy Purchase, so it will be more Safe and Satisfactory, and more Acceptable to them, than should any other Assurance be attempted to be set on Foot, by a private Hand, and tending to a private Profit.  
Thirdly, This Assurance will be Purchased at an Easy Rate, for the Security and Relief of the Widow, Orphan, Aged past their Labour, and such others, not in a Capacity of Re-building; whose whole Maintenance may depend on a Hazardous Income, by a small Rent of Houses.  
Nor can this easy Charge of Re-building, etc. be otherways than welcome, to those in a better Condition than the Former. These, as they have a greater Concern in Buildings, have a greater Value hazardous to Demolishment; and are not more exempted from this Fate, than the others: Nor can any such Interessed assure himself, that he shall not be the First that may have Cause to wish for this Public Reparation.  
Fourthly, That as the Adventurers do in one proportion Contribute towards raising this Joint-Stock, and each Building is equally liable to Fire; none knowing which shall be the First, or Last, that may be Burnt down; or how often the Casualty of Fire may be repeated to one and the same Fabric: So, whilst any of the said intended Joint-Stock shall remain unexhausted, the Re-building and Repairing must be as often repeated out of the same. And these multiplied Reparations, and perpetuated Advantages, upon one Consideration or Praemio, cannot be paralleled on any other Method of Assurances, than this by a Joint-Stock.  
Fifthly, By this Assurance of Re-building, etc. the Brick-Buildings in this City, would in a great Measure be acquitted of their Name of Candle-Rents. Those Houses would be esteemed a good Settlement on Marriage, for the Provision of Wives and Children: And likewise, may be offered as a good Security for the Supply of the Occasions of the Interessed.  
Sixthly, The Inhabitant, or Tenant, by this Assurance made to him, will undoubtedly enjoy his Habitation, (either the Former, or Latter Rebuilt.) For the Term of Years he may be concerned in it, he will in a great Measure be secured from his Covenants of Reparations: And in a short time, after every such Accident of Fire, he will be restored again to his House, and Trade; without which, possibly, he might never return to Either.  
If the Landlord will not join with the Tenant to perpetuate the Assurance, he may be admitted only for his Term of Years; when Abatement will be made him proportionable for the time, to his Satisfaction, etc.  
Nor can such Inhabitant, or Tenant, who shall neglect to make his own Security, reasonably propose, that any other Assurance, which may be made with this intended Joint-Stock, shall give him Ease in his Covenants with his Landlord for such Reparation, or Re-building, in case of Casualty by Fire.  
Seventhly, When the Inhabitant, or Tenant, will not be at the Charge of this Assurance for his own Security, it will be the Landlord's Interest to do it for himself: His Estate will be advanced in the Value from Twelve Years Purchase, to Sixteen Years Purchase, upon the Sales thereof; and will Amount to Four times the Value of the Money, which he Disburseth towards raising the Joint-Stock. So that, the great Security and Improvement to his Estate, is purchased at an inconsiderable Hazard, either of Money or Casualty. If towards the raising of this Joint-Stock, he puts in Five Pounds per Cent. on the Charge of Re-building, How small is that to the Value of his Estate, secured; especially, when in few Years, he may be receiving Part thereof again by Dividents, out of the Improvement of the Stock? Or, What can the Hazard be of any Valuable Devastation amongst those Buildings, when we know, they are Guarded with so many Thousand Ranks of Party-Brick-Walls? And consequently, What (probably) can be his Proportion of the Loss on any Casualty; when it is apparent, If this Joint-Stock be raised, should a House to the Value of One Thousand Pounds, be Burnt down, Five Shillings per each House, on Four Thousand Houses, will make good that Loss: And so proportionably, a greater or lesser Casualty might be Repaired amongst those Adventurers?  
The Covenants with the best of Tenants for Re-building, is not of that Security, Continuance, or Improvement to the Estate, as may be promised by an Assurance of this Joint-Stock.  
Eighthly, This Design set on foot by this Joint-Stock, might be of General Good and Benefit to the whole City, and Inhabitants, by having in readiness a further Supply of Persons of Skill, for managing of Engines, Buckets, etc. And may some otherways be Improved for the Public Good, no less for the Relief of the Poor, than for the Conveniency of others, the Inhabitants of the City.  
Ninethly, The Casualties which may happen by Fire amongst the Timber-Houses, are in a greater Proportion, more Violent, and Hazardous; and will not, on equal Terms, be admitted into a Joint-Adventure for Assurances, with those of the Brick-Buildings; though the Method prepared to carry on the Design for the Re-building of Brick-Houses, with small Alteration, may be made Practicable, as well for the Benefit of the Interessed in Timber-Houses, as of all other Cities and Places in the World, Numerous and Eminent for Buildings.  
Tenthly, The Management of the said intended Joint-Stock, and the Employment, with the Improvement thereof, will be solely at the Directions, and for the Use and Benefit of such the Proprietors, and Inhabitants, who shall be Adventurers in raising the said Stock; they undoubtedly will be most diligent to consult their own Interest, and Security; as we find it in the Adventurers of the East-India-Company, Guinney-Company, and other Corporations.  
The great Care of the Adventurers, will be in their Choice of Persons of Honesty, and Ability, who may faithfully discharge their Trust, in managing their Stock; whereby it may be best secured, and employed, for Discharge of that Undertaking it is raised for.  
The Design may be set on Foot, by his Majesty's Gracious Letters Patents, for Erecting a Corporation: And undoubtedly, in the Managing, must discover those Advantages, which at this distance cannot be fore-seen. The Method to make the Design Practicable, will be produced, when the Proprietors and and Inhabitants of the Houses, shall be prepared for raising the Stock; or that it may be any ways Useful for a Public Good.  
If it should be asked, Where this Joint-Stock shall be Lodged? or, How it shall be Employed and Improved? It is Answered, It will be at the Disposal of the Corporation; which probably by them may be fixed in the Chamber of London, (an Undoubted Security) or may be otherways disposed of, at their Discretion.  
FINIS.