A PROPOSAL to Ease the Subject, and to Restore the Credit of the Nation; so that within Six Months, Bank-Bills and Tallies will be as Current as ever they were, and the Want of Money Supplied.  
Humbly Offered to the Consideration of the Honourable House of Commons, By W. V.  
IT's as needless to demonstrate, that nothing will Restore Paper-Credit, except a Bill promising Ten Pound is worth so much in the esteem of all Persons to whom there's a Tender thereof in Payment, as that Paper-Credit is absolutely necessary to support Trade, and relieve the Kingdom under its present Exigencies. However impossible the former be accounted, it's humbly conceived the following Proposal will effectually and easily do it.  

It is supposed Ten Millions are now Owing by Tallies.  
Leaving 50 per Cent. (which is the one Moiety of the whole) to remain at the same Interest, and as at present they are: Let the other 50 per Cent. be paid in Ten Years, in the Manner following: Viz.  
Yearly Rates of Interest, Numbers of Years, Principal, Yearly paid from the Principal, Interest Yearly paid,   l. l. l. s. d. At 10 per Cent. 1 50 5 5   Ditto 2 45 5 4 10  Ditto 3 40 5 4   Ditto 4 35 5 3 10  Ditto 5 30 5 3   At 5 per Cent. 6 25 5 1 5  Ditto 7 20 5 1   Ditto 8 15 5  15  Ditto 9 10 5  10  Ditto 10 5 5  5     50 l. 23 l. 15 s.   
For the first five Years 10 per Cent. of the Principal, with 10 per Cent. Interest per Ann. and for the last 5 Years 10 per Cent. of the Principal, with 5 per Cent. Interest; and for this there shall be delivered Parchment Bills of Credit for 10 l. in each Bill, or any other Sum carrying Interest in manner above specified. Let a Fund be settled by Parliament in such a manner as to prevent all jealousy of its Alienation to any other Use, and of a Value more than merely sufficient to pay off the Five Millions of Bills of Credit, with the designed Interest, in the said Term of Ten Years; the Yearly Surplus may be applied to make up any other Deficiencies, after this End is answered.  
It is necessary to mention what will contribute to the Reputation of these Bills, and then of the common Benefit of them.   

For the Reputation of the Bills.  
I. The Certainty and Unalienableness of the Fund appropriated to the Payment of the said Bills.  
II. There are many eminent Traders that have already engaged, under their Hands, to Accept the said Bills in all Payments; and numbers more than have promised to do the same, if desired.  
III. When Tallies are turned into Ten Pound Bills of Credit, as aforesaid, lest any Person should (after all these Public Advantages) scruple to Receive the said Bills, there are Persons of good Estates that will, within Six Months, publish and declare where there shall be a sufficient Sum of Money provided to give out in Exchange for all their Bills, and to the full Value (the Six months' Interest only excepted) provided they shall not be Taxed for the said Money.  
iv Bank Bills, and Million Lottery Tickets, or New Milled Money, may exactly be Counterfeited; but there is a Way also invented to make these Bills of Credit so, that it will be impossible for any Person to Counterfeit them.   

The Benefit of these Bills.  
I. Whereas now the Nation pays, for every 50 Pound, Principal and Interest, at 8 per Cent. in 10 Years 90 Pound. Hereby we pay off Principal and Interest, with— 73 l. 15 s. And so we save, in 10 Years, in every 50 Pound— 16 l. 05 s. Whereby we plainly see how great a Benefit this will be to the Subjects: For 325000 Pound will be saved in every Million in 10 Years, and we have the Advantage of Trading with the Whole; for these Bills will supply the want of Coin, and answer all the Uses of it; whereby the Discouragement our Traders and others are at present under, will be removed; and without which, the Ready Cash of the Nation is insufficient to support our Trade.  
II. This easeth the Nation, and there is no occasion to make an Act, That those Bills shall pass Current in Payment. For it is the Opinion of many Eminent Traders, That so soon as these Proposals are Read and Approved of by this Honourable House, before the Act is Past, the Discount upon Tallies and Bank Bills will fall; and when the Act is Past, and Tallies turned into Bills of Credit, although there should be no Money provided to exchange the said Bills, as aforesaid, they will be as Current, and more desirable than Ready Money, as may be made appear by many that have and are willing to set their Hands to the Proposal.  
III. All the remaining Tallies not included in these proposed Bills, will become reputable, seeing one Moiety is taken out, whereby the Yearly Payment of those remaining will be easier, the Prospect of such Payments more encouraging; yea, this certain Payment of one half, will insensibly gain an Esteem of all Public Securities.  
IU. Many will prefer these Bills to Ready Money, and buy them, because of the Interest growing daily thereupon; the Easiness of their Carriage, Safety in Possessing them, Prevention of the Trouble of Counting, and Loss by False Money. But the Advantages are so obvious, as well as great and many, that a Hint is sufficient to all Men of Thought.  
V The ruinous Trade of Buying and Selling of Bank Bills and Tallies will be at an end; Taxes easily paid; the Bank, and all them who by the Bad Money, or otherwise, have their Estates lodged in the Exchequer, be relieved, who are now disabled from paying their Debts, and managing their Trade, unless they sell their Tallies by a Discount of 30, 40, or 50 per Cent. which would be the utter ruin of the greatest Number; and without selling them, they serve to no use, either to the Public or themselves: For it is not 8 per Cent. Interest that will support Traders Families, or manage their Trade, as we daily see by the Failing of many who have Stocks in those Tallies.  
It may also be added, That there may be more than 10 per Cent. allowed for some of the first Years, and less in the following, either with little Addition or Diminution in the Payment of the Interest, as appears by these Two different Schemes: Yearly Rates of Interest, Numbers of Years, Principal, Yearly paid from the Principal, Interest Yearly paid,   l. l. l. s. d. At 10 per Cent. 1 50 5 5   Ditto 2 45 5 4 10  At 7 & ½ per C. 3 40 5 3   Ditto 4 35 5 2 12 6 Ditto 5 30 5 2 5  Ditto 6 25 5 1 17 6 Ditto 7 20 5 1 10  Ditto 8 15 5 1 2 6 Ditto 9 10 5  15  Ditto 10 5 5  7 6    50 l. 23 l.   Yearly Rates of Interest, Interest Yearly paid,  l. s. d. At 15 per Cent. 7 10  At 12 & ½ per C. 5 12 6 At 10 per C. 4   At 7 & ½ per C. 2 12 6 At 5 per C. 1 10  Ditto 1 5  Ditto 1   Ditto  15  Ditto  10  Ditto  5   25 l.    
And several other ways this may be adjusted, the Years and Rates of Principal and Interest, which may also be varied as shall be thought fit.  
And by either of these Ways, it's humbly conceived, the Credit of the Nation will certainly be restored very speedily, and all things well settled, to the Satisfaction and Safety of His Majesty, and all his Subjects; and Trade made to flourish as much as ever.  
'Tis apparent, that without this, or some such other Expedient, we shall lose most of the Trade of the Nation, to the utter ruin of the Subjects, and chief poor Workmen, that will be famished for want of Bread.  
There are several Ways beneficial to the Nation, to enable the Subjects to pay Taxes, and to raise as much Money as our Occasions shall require, to carry on the War with Vigour, until it is brought to an Honourable Peace, without burdening the Subjects, as also to pay off the Debts of the Nation to Satisfaction, all with less Charge than what has been done heretofore, and to make Money plenty: Which the Proposer is willing to declare to those that will endeavour to Ease those Grievances.