PROPOSALS FOR National Banks; Whereby the Profits on Usury, though reduced to Three per Cent. per Annum, will supply his Majesty more plentifully than ever to carry on the War, exempt the Nation from Land Taxes, great Customs and Excises, exceedingly promote Trade and Navigation, and give England many other very large Advantages.  
The Second Impression with Corrections and Additions.  
LONDON, Printed for the Author, and Sold by Peter Parker at the Leg and Star over against the Royal Exchange in Cornhill, and John Waltho at the Cloisters in the Temple, and John Gouge at the Castle in Westminster-Hall, Anno Domini MDCXCVI.   

PROPOSALS FOR National Banks; Whereby the Profits on Usury, tho' reduced to Three per Cent. per Annum. will supply his Majesty more plentifully than ever to carry on the War, exempt the Nation from Land Taxes, great Customs and Excises, exceedingly promote Trade and Navigation, and give England many other very large Advantages.  
THREE Manuscripts have been lately presented to some Members of the Honourable House of Commons, which having met with no dislike save of being too prolix, 'tis prayed that Objection may atone for the present Brevity; And this being penned in too much haste, 'tis hoped the honesty of the Design will excuse that also.  
The Subject was of Banks, such as entirely tend to the common good of the King and the People of England; and which are of a Nature widely different from those other Banks that aim Chief at the further enriching a small number of sharpwitted Pursemen, at the cost of the Kingdom, which will be yet more impoverished by their engrossing the vast profits on the Usury of the Nation into their own Coffers.  
'Tis therefore humbly proposed, that one General truly National Bank, be established in London, whose Governor and Directors to be (from year to year) nominated by Parliament; And at the same time that Banks be erected in every Ward therein, and in every other City, and Market Town in England and Wales, and those to receive Rules from the Head-Bank in London, and thither to return Accounts every Week, all which are every whit as practicable as the Offices of the Custom's, Excise, or any other, and may be settled and put into Action sooner than were, or can be, those Banks now on Foot; because no time need be spent in taking Subscriptions (Funds enough to the full being already provided) not other Terms be made for Money brought in, or to put Bills in circulation; for that the great Conveniencies and Ease in Commerce which those will give all over the Nation, will cause them to run (every where) swift of themselves, without the charge of one Peny per Cent. to quicken their Rotation. Nor will other Banks longer give it, than as Sugar-Plums at first to sweeten Men's Entrance, for 'twill be so far from needful, as that Bank-Bills in Holland are (at this very Day) in higher esteem than their best Money in Bags by 4 or 5 per Cent. And in Venice by 20 per Cent. as is remarked by Mr. Blackwel in the 17th. Page of his Book on the subject of new coining our Money; Printed in Anno 1695.  
A plain Scheam for the regular and safe Proceed of which manifold true National Banks in England without any confusion, and to render false or stolen Bills useless to Forgers or Robbers is providing to be presented, whensoever a proper season shall admit for its Acceptance.  
Moreover (which is worthy to be very seriously observed) these Banks may be erected without difficulty, by the common agreement of the Inhabitants themselves in any City's Towns, Hundreds, Villages, or Neighbourhoods in the Counties, and by holding Correspondencies with the Goldsmiths or Banks in London, plentiful Mediums of Trade will (at the same instant) start up like Blessing unexpected, and render the Commerce of every such place, as brisk and more secure and easy, than ever it has been, without three Pence in Money besides for pocket occasions; and the neat Profits of these Banks at but 3 per Cent. Interest per Annum. will defray a great part, if not the whole, of the Taxes Excises and other charges of those parts where the same shall be put in use.  
The Advantages of establishing Banks in the Methods here mentioned will be mighty and numerous, many of which are (perhaps) as yet undiscerned; But it will be sufficient to name these few following, which seem to be the most obvious, Viz.  

I. These Banks will furnish the King with several Millions of Money, per Annum. without burdened the People, and will redeem all the Funds that can be redeemed, and discharge both the Interest and Annuities of those that are not redeemable, and will satisfy all Bills that shall be drawn by the Treasury, and return back the Interest again into the Service of the Nation, if these free natured Banks may but have the first offers of those Bills.  
II. These will and all debates about the bad Money, and set the People at ease.  
III. These will repair the losses by Guineas, and bring liberal profit to the Nation thereby.  
iv These will advance the Estates of the Orphans.  
V These will be safe Repositories for private men's Cash.  
VI These will return the multitudes of sums great and small, to and from place to place, throughout the Kingdom, without charges of carriage or dangers of Robbery.  
VII. These will quickly call back that great (or rather greatest) part of the Money in the Land, that is now employed in Usury, and convert it into Trade.  
VIII. These Banks will defray (in great part, if not all, or more than all,) the expenses of the War, and other the Charges of the Kingdom.  
IX. These will take off the necessity of great Land Taxes, Customs or Excises, and make all Commodities cheap.  
X. These will raise Lands and Houses to more than double the present Values.  
XI. These will unite the Interests of the landed and moneyed Gentry, and capacitate the former, and excite the latter to contribute towards the speedy retrievement of the East-India Trade, and to carry on that, and all other Trades, to so great degrees, as to render England (by those means and by its happy situation and excellent harbours) the chief Storehouse and Bank of Europe, or rather, of the Universe.  
XII. These will exceedingly augment our Navigation.  
XIII. These will give handsome Entertainments of business to many Gentleman's Sons all over the Land.  
XIV. These will employ and cause to be employed all the Poor that are able for any service,  
XV. These Banks will procure the best prices for Cloth and other the Productions and Manufactures, Native and Foreign.   
1st. As to the first Advantage, that will accrue, if Regular Methods are concerted, these Banks will have (in all likelihood) more than a sufficiency of Money, freely, and speedily brought in, to pay unto His Majesty's use, all the sums that the Parliament hath given, with cash in Specie, to those that shall desire it; which none will do in great sums, unless it be (through envy) to be lodged in their Coffers, or else to melt down, or transport 'em, because Bills even from any Banks are (every day) experienced, to be much more Eligible in Payments than Gold or Silver in kind; Nay though it be of the new Coin, yet 'tis not so acceptable to the Receivers, as Bank Bills; which Holland with Venice, and all parts where Banks are, do effectually prove; Much more will these please in the Country (where are troubles of Carriage, and dangers of Robbers) as soon as ever these Bills shall there come in use; and 'tis further believed, that (in a very short time) these Banks will be able to redeem all the Funds that can be redeemed, and rescue the Kingdom from payments of all Interest whatsoever, as will be by and by made more plain.  
Which Regular Methods, to stock the Kingdoms true sort of right National Banks with plenty of Cash in Specie, are humbly proposed to be, as followeth. Viz.  
1st. That all his Majesty's present Revenues, and Taxes be paid into the Banks, next adjacent, to the places where the same shall be collected.  
2dly. That all the remaining bad Money be brought into the Banks nearest to the dwellings of the Owners, on, or before certain days (for that purpose) to be assigned, and Bills issued for the same; and likewise, that the new Coin be there returned in, ready to be delivered at the call of those it belongs to, who (in the mean time) having Bank Bills, the Commerce will be plentifully furnished with a full and sufficient Medium of Trade, and there will be no occasion at all of the ill Coin's longer currency which would be avoided, least evil Men convert all they can of that new Money into such (as 'tis said) is now and ('tis justly feared) will be buisily prosecuted as long as they have prospect to utter it.  
3dly. If the Guineas are brought into the Banks, on short notice before more can be imported, and Bills given for the same at 22 s. (which never need go higher than to prevent their Exportation) and as much more as each Bringer in shall swear they have (without Fraud Covin or Combination) taken those at to 30.28.26. s. etc. These will store the Banks with Cash so very plentifully, and suddenly, as to render the said Banks able (besides furnishing His Majesty's occasions at demand) to lend (immediately) so much Money on Mortgages and deposited goods, as that the profits at 3 per Cent. per Annum. paid quarterly for the Bills in Rotation, by the help of that Fund, will (in a short time) reimburse the losses made good by the Guineas, and become a standing income thence forward to the Nation; which will be liberally recompensed without injury to any particular Man, and the greivances of our Industrious, and Honest Tenants Tradesmen, and all Losers by Guineas be redressed, to the general Satisfaction and Joy of the People.  
4thly. If the Orphan's Money be brought into such of these Banks, as the trusties shall choose for that purpose, and Interest to be paid for it, or else, the same to be improved in stocks of Trade, as the Parliament shall direct; this will advance the Estates of the Orphans, and also augment the Bank's Cash, and thereby enable them the better to supply His Majesty, and the sooner to issue the more Bills in Circulations.  
5thly. These Banks will be much safer Repositories for private men's Cash, than the hands of fickle Goldsmiths or Scriveners in the City, or of hazardous friends, either in Town or in the Country, if the Kingdom be security for the Banks, as will be a great deal of reason it should, when all the Interest on the wheelings of the said Bills, shall be applied to the service thereof, and then this will be another expedient for largely increasing the Cash in all the Banks, and enabling them to circulate the bigger multitude of Bills. And here must be remembered, that if any disasters by Fire or otherways shall happen to any of the Banks, the same to be made good by all the Banks in the Land; And likewise wherever any Money may chance to be wanting, that Defect to be supplied by the next Banks most convenient.  
6ly. The great number of Men whose occasions will daily oblige 'em, to return Money from place to place, will undoubtedly choose to pay their Money into that Bank next at hand, and take out Bank Bills of Exchange, for the same which they may carry, or send to those Banks, (howsoever remote,) where their Correspondent● inhabit, or themselves or their Agents shall travel, all over the Realm; rather than to be at the troubles, and expenses of carriage, and to run the risks of Robbers; whereby much Cash will flow into all the Banks in the Land, and the conveniency of Bills to be had from those Banks where the same must be paid, will direct the Receivers rather to exchange those for other Bills, than to desire Cash in Specie, especially in cases of great sums, as is daily experienced at the Banks in London.  
None will imagine, that these six ways in conjunction, can fail to stock the Banks with a sufficiency of Money, to be constantly lodged in them ready (at all times) for His Majesty's Services, and to pay off such Bills in Specie, as shall so be desired; Yet for further security, If, First, the Head-bank in London, have power to borrow Money upon some Parliamentary Fund, as that of Salt or any other, to be settled for the more visible security of the Lender's, to take place one year hence or at other fit time; 'Twill put all beyond question, which Money will soon be repaid will the Interest, nay and without ever requiring one Penny from that Fund; Howbeit the same may be provided as a Reserve, for the more sure satisfaction to the said Lender's; For it cannot well be doubted, but that less than twelve months' experience of the profits of 3 per Cent. on the Bills, in Rotation from all the Banks in the Kingdom, will remove all scruples for ever. And in the Second place if Bank-Bills are made current by Law, but only until the end of the next Sessions of Parliament, all objections will be answered, and no man prejudiced one Groat.  
Yet of these two Collateral Reserves, 'tis not (at all) probable, there will be any occasion, though too much care cannot be taken in a matter so great; for 'tis not likely that of the Cash which comes into the Banks, so much as one Tenth part will be called for out again in specie; as is proved by those Banks already in use, much less will it be so desired out in kind, where Men dwell at distances from their Markets and places of Commerce.  
Six of the first mentioned Positions, being supposed to be sufficiently proved, the Seventh is most plain, viz. That if Usury on Mortgages, and deposited Goods (not meaning on Personal Securities) other than from these Banks be suppressed, and be there reduced to 3 per Cent. per Annum. the Usurers will forthwith turn their Money into Trade, or other wholesome uses, and give Employments to the poor, and so take off a great part of that charge by them; which Interests are now at 5 or 6 per Cent. and are made up 8 or 10 per Cent. to the Borrowers, by their long journeys, with the Scrivener's Fees, and Perquisites, whereby many worthy Families have been brought to lack Bread; and though the Interest should be less at the Banks in London, yet the tedious journies thither, and charges there, and in clearing up of Titles far from Home, would make those at so great distance not much helpful or easy to Gentlemen, or others afar off, either in England or Wales. But rather the quite contrary in divers regards; because the Banks in London will draw up the Money from the Country, and leave there no Medium for Commerce, and which will tend so very much to the prejudice of the Nation, as that all the Families therein must (of necessity) become their Tributaries, even from the Palaces to the Cottages and Almshouses, not the Sick nor the Impotent, no nor Infants excepted; seeing all must use Salt and Earthenware, etc. And all this to serve the turns of a few avaricious Persons who have already great part of the Cash of the Realm in their Hands, which together with the vast Profits on their Paper-Money will enable them to encroach yet further than is proper to be expressed; which huge and mighty Profits do of right belong to none other than the public, and who ought not to be thereof deprived by the sinister Contrivances and crafty Devices of covetous selfseeking Men, and the generality of the Kingdom be thereby made poor and miserable to Perpetuity.  
For the Annuities the perpetual Interests and Charges in Collections are computed, will (this very year) rise to above a Million of Money, which is one Tenth part of the Rents, and is at least one half part of the Land Tax, how much more soever those may augment from Year to Year; All which these Banks (if now were established) would pay off in one Years time, so far as the Laws will admit to be discharged, and would (at the same time) disburden the Nation of all the Remainder; But if things still go on at the rate that they have done, Every Day will swell the Kingdoms Debts bigger, and harder to be paid, and the state of the Nation will grow worse, and worse, and from Year to Year further off from Prospect of Retrievement, and towards a perpetual Enthralment under Debt to the Pursemen, Natives, and Foreigners; as have been for abundance of Years past, and are at this very Day the unfortunate (if not for ever insuperable) Circumstances of those languishing Kingdoms and Countries of Spain; whose Shackles of Usury that Immenseness of Treasure, though flowing in every Year from their Fountains in America, hath not been able to get loose; so unimaginably strong and powerfully guarded are the Fetters of high Usury wherever those are got fastened on the public; Nor is it often that private Persons once deeply entangled therein, have found any better.  
Those Debts of the Spaniards are said were contracted by reason of their embroilments in Wars, for more than an hundred Years past, and 'tis not yet heard of, that any part of that principal is hitherto paid, or that they are able to pay it, neither is it by the. Creditors desired; because the Usuries they receive are profits much larger, safer, and easier, than they can make by any other improvements of their Money; and who being in those times (a great part) Assens (chief Genoveses) are since then become Naturalised Spaniards, and linked in with the Money-monger Natives, (too many whereof were then concerned in their Government) and twisted together with them into the managing Posts of those Realms, so as to sway the Councils of those harassed Kingdoms and Dominions; to pursue and protect all possible Advantages to their Usury, whatsoever becomes of their Trade and Navigation, which all know is fled from them, and their People live idle, poor, and miserable, and are a Prey to every Assailant, and like to be so as long as their Nation endures; of which abundant more might be said, but this will suffice, because 'tis agreed on all hands that the Sloathfulness, Poverty, and Misery of those so extremely much decayed Kingdoms of that once most flourishing and powerful Monarch, and Terror to Christendom, is owing to the vast Sums of Money continually sucked from that Crown for Usury by their Dons Grandees & c to the so great vexation and Calamity of that Indigent Common People under intolerable Gabels, (i. e. Excises) as produced that tragical and most deplorable History of Naples, under the Fisherman Thomaso Aniello in Anno 1647. Written by a Gentleman who was an Eye-witness thereof, and may be a seasonable warning piece, it being not certain whether the Common-People of England would contentedly bear things of this nature so long.  
This Tragical Subject of Spain, brings to mind the Felix quem faciunt aliena pericula cautum of Horace, for though England seem now in the very same Road of running the like sad and woeful Fate, if the Foresight and Subtlety of our selfended Banks shall prevail with any of our Honourable Parliament Members, who (perhaps fee not the mighty self-ends these Gentlemen reach at) to be drawn into their Societies hoping by the help of them and their Friends to carry on and uphold their Usury Projects, taking these politic Pursemen of Spain for their Precedent; yet if also on the contrary part, the great Wisdom of our King, and of our every way disinterested good Parliament Patriots, Men fearing God, and hating Covetousness, (such as 'tis hoped are the most part of that Honourable House) shall but vouchsafe to establish this communicative sort of true friendly Banks, these would immediately dissipate all those black Clouds that at present impend, of our Kingdom's future Calamities by now plunging into the like Debts as miserable Spain hath done; and would be mightily advantageous to all the Families and People of England; the rich and the Tradesmen would be eased in their Taxes of all sorts, and having Banks in the next Market Towns would enjoy the same benefits thereby, as those who dwell in and about Lodon, and both rich and poor will have all Commodities cheap. Oh! That the different Natures of these comforting cherishing and so mightily profitable to the public last mentioned Banks of the one side, and those cankerlike coroding ones (to our Nation) now on Foot of the other hand; were but sedately considered, and their quite opposite effects but rightly distinguished, all Arguments would straight be at end, and our Land be delivered from its present Distresses, and be happy and glorious to the end of the World.  
For proof of the Eighth Position, the Interest at 3 per Cent. per Annum (according to modest Computation) will bring after all charges paid neat into the Banks upon the huge multitude of Bills that will be always in Rotation upon Mortgages, deposited Goods, and such substantial personal Securities as the Banks shall approve 〈◊〉, much more than six Millions of Money per Annum; but whatsoever that shall amount to (more or less) the same will defray (in great part, if not all or more than all) the expense of the Wars, and other the charges of the Kingdom; yet as to personal Securities, the inferior Banks may be limited, not to lend above one Thousand Pounds to any one Person, without the approbation of the Head Bank in London.  
For the Ninth Position, when as all, or great part of The Nations Expenses shall be discharged by the Interest coming into these Banks; Land Taxes, Customs, and Excises will need to be but very low, if not quite be laid down, and when Peace shall come, and thereby the Kingdom shall not lack those large Supplies of Money which the said 3 per Cent. will be found to bring in, that Interest may then likewise fall so much lower, as to raise no more than the necessary Charge of the Nation shall require.  
For the Tenth. The values of Lands are accounted to rise or fall according to the rates of Interest, which being now by Law at 6 per Cent. Land commonly goes at 20 Years purchase, and when Interests shall fall to 3 per Cent. land will by consequence rise to 40 years purchas; but about Taunton in Somerset shire and those parts where Registers are kept, Lands are said to go now at 30 Years purchase; And (when the one half part of the present Interest shall sink) may possibly rise to 60 Years purchase, which tho is a rate too hgih to be expected yet when Landed Gentlemen shall have Money at cheap' Interest near Home, to pay off the Debts of their Ancestors, the portions of younger Brothers and Sisters, and sometimes their own Debts contracted in younger years; they'll need not, nor will they, part with one foot of their Patrimonies, no not for one Hundred Years purchase; which are now swallowed up by the Usurers, for oftentimes no more than16 or 18 Years Value.  
In the Eleventh Place, when the Landed Gentry, and others shall have Money at cheap Interest, near every Man's Home, wher● Titles are best known, and the Usurers slothful Trade be out of practice; These various, nay contrary Parties, will become united to the promoting of the common Good, so as that the first will be enabled, and (for their profit sake) both will be forward, to assist in the retrievement of the East-India, and the carrying on that, and all other Trades to much higher degrees than ever; and when small, or no Customs, or Excises shall be paid, save for such Vessels, or Goods as Reasons of State shall require, Strangers Ships will be encouraged to make us frequent Visits, and by such freedom from charges, together with the happiness of our Situation, and the commodiousness of our Harbours, England will naturally become the chief Storehouse, and Bank of Europe, or rather of the Universe, and will be able to make a yet greater Figure in the World beyond present imagination; hold, and govern the Balance of Christendom more effectually, and prevent all ambitious Designs of an Universal Monarchy; and then will all necessaries be cheap to the Gentry, Tradesmen, and poor, so as all the people of the Land will live much better and easier.  
12. As Trade increases so will the Navigation to degrees beyond what can be at present foreseen, which is so manifestly proved by what goes before, that more need not be said on this Subject.  
13. Whereas at present many gentlemen's Sons do but help to fill the Tables of Parents, Elder Brothers and other Relations, and are oftentimes burdensome Guests, uneasy in themselves, and (though against their wills) useless to their Country, and not seldom by their circumstances exposed to desperate Courses; If these Banks were established gentile Employments might be had, not only at the said Banks, but in a multitude of profitable Enterprises which their Landed Friends and others, by Money to be had at low Interest, and at hand would be enabled, and Moneyed Men, (for the sake of their own Advantages) would be induced to help them to good Posts in; And so would the grievous Misfortunes of many ingenious young Gentlemen be remedied, and their Parents and Country made happy by them, who now either linger away their Lives, in tedious Misery to themselves, and charge to their Friends, or (forced on bad Practices) make igmominious Exits, to the perpetual Reproach of their Families.  
14. When the Usurers shall be put upon other Studies, to make profits of their Money, their Projections will be every where innumerable, and the Artificers, Labourers, and Poor, must be likewise called in to put all Undertake in execution; which together with the Banks, will have occasion for so many of both Sexes, as that Employments will want them, rather than they will lack Employments; which now is the sad case of Thousands in Cities and Country, to the very great charge of all Parishes in the Kingdom, and yet numbers are said to be starved, besides those that perish by Famine in Prisons: The disabled in their Hands may go on Errands, the lame in their other Limbs, may turn the Wheels of the Makers of Ropes, Cordage, Lines, twine Thread, etc. And also of Throwsters, and so may the younger, that go not to School, etc. So as none other than the Superannuated, Impotent, and Infants will wane Provision.  
For the 15. Advantage, these Banks will procure the best Sales and prices for Cloth, and for all Productions and Manufactures Native and Foreign, because they'll sell all Goods at best seasons, and with least charge, to the Clothiers and others, who by depositing Wares in any one Bank, until themselves, or their Friends can make their best Markets, will have plenty of Money, (for small Interests) to be paid them near Home, or afar off, where each Tradesman shall choose to answer his occasions, without being obliged to trifle away their Goods at low rates to get ready Money, and to carry the same far and nigh, to obtain things useful for their respective Occupations; as now is the case with most of the Tradesmen in England, to their extraordinary Charge, Hazard and Detriment.  
But if any other selfdesigning Banks (under what Names Titles or disguised Pretences soever) shall be tolerated to enjoy to themselves the mighty profit by Usury on the Nation's Money; those will be as prejudicial to the King and the Kingdom, as if the Goldsmiths and Scriveners still had it, the case being alike to the Public, whether the same be devoured by the one or the other: Nay the latter have the best Title to those profits, because 'tis the livelihood they are bred up in, which to suffer Bodies Politic to carry away from them whose Subsistance depends thereon, would seem Oppression; and to permit 'em to monopolise those to themselves, with exclusion of our Mother the Nation that supports us, would be very great Unkindness, Undutifulness, and Ingratitude to her; Nay, why she should contentedly give any others the place, to bereave herself of these prodigious Profits, which are rightfully her due; whilst she is in so very great want, and borrows on so very hard Terms of Usury, is altogether unaccountable to Reason, or Justice to herself.  
In fine, if the Parliament doubt of his Majesty's being punctually supplied by this true sort of National Banks, (alone by themselves) yet if our Rulers shall but grant their establishment, without lessening at all, or omitting the least part of the other Supplies already provided, the King by their help, may be the sooner assisted with Money to be paid in Flanders, or otherwhere assoon, and as much as his Majesty himself, and the Parliament please, without exporting our own Cash, at this exream Scarcity. And if these Banks may have leave to pay off the Kingdom's Debts, as fast as they shall be able, the first years experience will undoubtedly raise their Reputation by acquitting the King and the Nation from payments of those high Interests, that grate hard upon and consume very much of their Treasure, nay even of all Interests whatsoever, for those Funds that are redeemable; and yet carry on the War with utmost Vigour, though the charge should hereafter exceed what the fame has hitherto been; The Sense whereof, may so much discourage our Foes as to oblige them to submit, and endeavour to purchase a speedy Peace on such Terms, as our King and his Friends, shall be pleased to admit them.  
The greatness of the Taxes, the difficulties to obtain Money, the dearness of Commodities, Domestic and Foreign, by reason of high Customs and Excises, lie hard upon the Nobility, Gentry, and all others, impoverish the Tradesmen, hinder the Navigation, fill prisons, starve the poor, and fupply Tyburn; All which Grievances, this most excellent healing true sort of National Banks would (in one years' time) redress to admiration, and put England into a glorious condition of prosperity for ever.  
But shall the landed Gentry, and other true Lovers of their King and Country, permit the vast profits of the Kingdom, on the Circulations of Paper payments (which by the way are unjustly ridiculed) to devolve into the Chests of Bodies Politic, and other Usurers; all those will have great reason to unite together to strengthen their Party, and the exorbitant profits will invite all Gashiers Receivers and other Dealers in Money, as also the rich Moneyed Gentlemen, who may persuade some of the very Members of Parliament themselves to engage in their Fellowship, and will tempt them to exert their most vigorous Efforts, to influence all future Parliaments, (though under specious pretexts) to favour their interest, how ill soever the same may comport with that of the good People of England in general, who (if this right honest sort of National Banks be disliked or delayed) will languish under the Losses of near Six Millions of Money per Annum, or rather of much more, (as the same is computed to be) besides infinite other very considerable Disadvantages, than those afore pointed at.  
For 'tis more than probable, that our Neighbour Nations, particularly our Brothers of Ireland and Scotland, living under the same Constitution of Government, may see further and deeper into this matter, than we are at present willing to do; and may take occasion, from this unhappy and wilful Blindness in us, to erect the like Banks in those Kingdoms; Whatsoever other Nations farther off, and free from our Comptrol (whose Governments will admit) may likewise do.  
By means whereof, we shall sit still, and envy the Benefits accrueing to them, by improving their Trade and Navigation, which they will draw away our people to help them to carry on the better, and wherein they may, in no long time, arrive to that height and perfection, as to decay and supplant our whole Traffic, and eclipse the Reputation we have gained in the World, by the greatness and extent of our Commerce, to the weakening of our Naval Force, and endangering our Safety, which so much depends on our Walls of Wood, and the Superiority of our Shipping, to any other in the World.  
As for Ireland it cannot be imagined, that ingenious people will any longer truckle and groan under the Drudgery they now toil, of 10 per Cent. Interest, together with the difficulties of procuring Money in that Kingdom, where it is so very scarce, and hard to be obtained; besides what other Advantages they may strive to reach at.  
And for Scotland, 'tis not to be expected that they who are (at this very Conjuncture) so solicitous in attempting a Trade to East-India, (never before by them adventured at) should now neglect the getting before us; if possible, into methods so certain as these herein set forth, to advance that undertaking, and which will undoubtedly carry on that and whatsoever reasonable Enterprises, besides, they shall take further in hand, to the inviting away of our Bulworks the English Seamen, and likewise multitudes of our Tradesmen, Artificers, and others, the most ingenious and industrious of our People, with no small quantities of the Wealth and Treasure of England, by such tempting Encouragements as their Politics may give, and by the soft, gentle, honest, and inoffensive way's of Wisdom and Reason, allure our precious Traffic out of our Hands, which the Sword, and the Blood of England have so long laboured to preserve, against the Nations more Foreign, tearing it from us by force; whereby England will be impoverished; and we shall be justly upbraided of Supineness and Stupidity, when it may be too late for us easily, (if ever at all) to retrieve the unspeakable Loss of our dear Trade, through our obstinate Blindness and wilful ●●●●ssness, to embrace this opportunity, of which Providence hath vouchsafed, the great kindness to give us the first offer; For if any Nation or Nations, that are altogether free from our Checks, shall insist thereupon, whilst we linger, our resolute Deafness, may be for ever hereafter lamented, more than that of (now) beggarly Portugal, to their disobliged Countryman Christopher Columbus.  
It is said that Scotland hath already so far advanced, as to have made (or are about to make) the Ports of that Kingdom free, which if so, that will menace the irreparable Catastrophe of the prudent and sovereign conduct of K. Henry the VII. who refused the Match of his Daughter with France, and (to use his own words) did thereby eschew sending London to Paris, but rather married her to Scotland, that he might bring Edinburgh to London, which wise Fore sight of that King took effect, in King James the first of England; Now shall we neglect this Golden Opportunity of these National Banks, and Scotland lay hold on't before us? They will not (in likelihood) fail to supplant and take from us the greatest part of our Traffic, and also to become the Storehouse and Bank of Europe, etc. (which England hath now the first Refusal to be, if it pleaseth) and will soon thin our Rivers and Harbours of Shipping, and our Streets and Country of People; (especially of the numerous Tradesmen, and their Families) and in no long time draw London to Edinburgh, and wherein the Benefits to Ireland, will oblige the no little Assistance of that Kingdom.  
Divers other cogent and powerful Arguments might be treated of, which have not met with any material Oppositions, unless Self-Interest is allowed to be such with its adherent Prejudication, and therefore whatsoever Misfortunes, Miseries, or Calamities shall befall England, through the want of these glorious National Banks, it may seem but reasonable to impute the same, and value ourselves owing therefore to the selfseeking Usurers of the Nation, and their covetous and overreaching Party, who will thereby demonstrate themselves no less Enemies to the King and the Kingdom of England, than is the French King; nay and in some Respects more pernicious.  
But on the other Hand, 'tis yet in our power (though not like 'twill be so much longer) to anticipate all others, and to get the start of all the World, and the Trades-people and Seamen of England, are so notedly known for their Ingenuity and Industry, and our Kingdom so happily situated, and our Harbours so many and so very commodious, as that 'twill be in vain, for any People in the World to aim at the overtaking us in Trade, were we once gotten entered upon the right best methods thereof, which will leave no place at all for suspecting the Authors being biased to any sinister Self-Interest, (so much by him decried) unless the Prospect of his minute Participation in Communi Bono Regni Angliae be so accounted, whatsoever his Labours, and Costs have been, or shall be, having been hereto pushed on by the fervent Emotions of an Impulse, purely to serve his Generation, whose glory thereby is the sole end of his design.  
Upon the whole, he hopes that the Title is much more than nakedly proved, if we hasten to establish these admirable Banks, for that all the profits on Usury, and the Circulations of Bank-Bills, will be converted entirely to the service of the King and the Kingdom, and so preserve and restore the (already too much) impaired Credit of the Nation, which will (inevitably and most certainly) be more exceedingly shockt, after the 4th. of May, if not seasonably prevented by Wisdom before hand; And by which means the King will be supplied more plentifully than ever, for carrying on the War with greatest Vigour, the Nation exempted from paying so great Land Taxes, if any at all, and in a short time discharged from great part, if not all, the Customs, and Excises so burdensome to the People; the Fishery, and divers laudable Undertake be encouraged, and prosecuted to effect; all Persons furnished that shall have occasions with Money at 3 per Cent. Interest per Annum, near every Man's Home, and many large Advantages be discovered, other than those spoken of in this Paper.  
FINIS.