SOME REFLECTIONS ON THE BRIEF ACCOUNT OF THE INTENDED Bank of England, Whose Author's Name is supposed to be M R. jerry Squirt,  
WHEN first I cast my Eye on the Brief Account of the Intended Bank, I thought I had met with such a Rarity, as would fully have explained the whole Tonnage Act, the Nature of a Bank in General, and the full design of this intended Bank in Particular; but when I had perused it, I looked on it as a particular Reflection on Dr. Chamberlain and his Proposal, as if he had a design to offer both up a Sacrifice to Public Obloquy, and not a little exposing the Members of Parliament, whom in good manners he ought to have treated with greater Deference and Respect; and, take it all together, it's rather a Banter, than an Account of what he promised of the Bank. Therefore for Diversion sake I ventured to make some Remarks upon it. The Book having no Name to it (though approved by some of the Bank Proposers) and the same being a silly Book, seems to be written, rather, to gratify the importunity of some dull pated Fellow, that may have been concerned in the promoting of this Bank, and knew not well himself how to recommend it to the World, than to inform the Nation of the true Nature of it, as he ought to have done.  
And methinks he gins very aukwardly when he tells us, That the want of a Bank, among other inconveniences, hath occasioned much unnecessary Credit, to the loss of several Millions. What does he mean by that improper Expression of unnecessary Credit? I think it may rather be said, that the Establishing of this Diminutive Bank, hath among other inconveniences, occasioned much unnecessary Scribble from our insipid Author, who adds, That this together with the height of Interest or forbearance of Money hath produced, What? Why nothing at all but some nonsencical Bombast, for he infers nothing else therefrom. But he goes on in next place to tell us, That these, and such as these, were the causes that the Nature and Use of Banks have been the Discourse and Expectation of many years; but still our refined Politicians thought it would not be settled here without a Commonwealth, and this made it to be a matter of Derision, and was therefore laughed quite out of Countenance. But however the Notion of Bands and Public Funds (quoth our Author) were entertained by some Mercurial Heads, Dr. Chamberlain he means, for here our Author having said thus much by way of Introduction, cannot yet proceed on giving an account of the Intended Bank, till first he hath sufficiently ridiculed Dr. Chamberlain and his Proposals of a Bank, who though he doth not Name him, is so plain in his Description, as if he did point him out with his Fi●ger, or write his Name in a large Character, that the Man who rides a trotting Horse may easily read it; for no other Person offered any thing like him, or took so much pains publicly ●owards the promo●ing a Bank, this last Sessions especially▪ which by his several papers Printed at his own Charge and delivered to the Members, doth farthe● appear, at which time he patiently endured all the Scorn Derision, and Contempt of many Men, and among them, possibly were several of the Proposers of this Bank, though at the same time, he constantly endeavoured to possess them with a right Notion of a Bank, and such a one, as would have made the Nation far more flourishing and happy (had they embraced i●) than i's possible for this, or any thing else, that hath hitherto yet been offered. Before which time, I presume, that neither our Author, nor his Proposers even understood any such thing, nor does it appear yet by this inconsiderable one that they how do. However since they were pleased to slight the Doctor, our worshipful Author thinks fit to deride and expose him for it, though he had no occasion so to do, neither doth a make any thing for his purpose, unless he designs it shall serve as a soldier the better to set off h●s own for he is not without his narrow design, too) which, whether i● will or no, will be seen anon. 
p. 2.  And thus he gins in telling how the Notion of Banks was entertained by some Mercurial Heads to whom the danger of V●●l●●ce from the Prince being objected, aid therefore invent certain imaginary Banks, which they designed to settle far enough out of the Prince's reach, and every bodies else. The truth is, 'tis well enough expressed for a Buffoon, and if all were true as our Author writes, the Doctor would appear as shallow Brained as I take our Author to be, whose Head seems to have more of an Heavy, Dull, Lumpish Saturn, than an ingenious Mercury; and for that he hath not Brains enough to understand the Doctor's Ba●k, doth therefore deride it. For no Bank in the World is better contrived for the Advantage, Security, and Satisfaction of the King and his People, than the Doctor's, the subject, 〈…〉 delivered into their own hands, and the King a large supply to carry 〈…〉 France, as well as improve his Revenue, besides the establishing that most desirable Trade of the Fishery to this Nation; therefore how this Author can report the Doctor's to be but an imaginary Bank, and out of every one's reach; when the profits, and indeed the Bank itself, is all in their own Possession, makes me much amazed to see so great Impudence, for which he can pretend no excuse unless his profound ignorance; from thence he descends to particulars, which he slightly hints at only, by which he would represent, 
p. 3.  how the Errors and Mistakes of the Lombard Bank, and the notion of Money did occasion their miscarriage, by running counter to all Mankind, anticipating Ages, and imagining inestimable Value from innumerable years to come, as if 100 years were a far longer time than a perpetuity, which is allowed to this Tonnage Act, if not redeemable in a few years, and this did want an Act of Parliament at least to conjure every Man's imagination into the Latitude of theirs. And as I take it, your Bank could not be what you would have it without this Act of Parliament, notwithstanding it hath the full proposed Sum of 1200000 l. but I shall leave it to the Doctor to answer these particulars, as being more properly his province; only the last Sentence I cannot refrain taking notice of, for that I perceive it was placed there for a clincher; by observing the prodigious extravagancy of the Doctor's Genius to be as vastly above and beyond, as others are below and beside the practice of extraordinary things. Here our Author's Genius hath showed his Talon to purpose, and hath strained in an extraordinary manner for this flight of Fancy, and seems to hug himself for his extravagant Thought, though this whole Paragraph is crammed with nothing but Romantique Stuff, which without doubt cost him much labour of Brain in Composing; and I can hardly believe, but that in imitation of Mr. Bayes, upon extraordinary occasions, he does certainly take Physic the better to clear his Pericranium from those muddy Vapours, and noisome Exhalations, that commonly at other times do use to disturb his little Genius. And though I know not by what proper Name or Tide the Author is distinguished, yet however I will not call him by the Name of Mr. Bayes, that being already given to several Fops in common, but not long since reading a Comedy made on the Owls of Athens, I find a Youngster one Jerry Squirt, which in all points so resembles our Author, that thus appears in Masquerade, that one would swear 'tis the very same Person, for it was the business of grinning Jerry to Carp and Quibble, Pun and play the Fool with every thing that came before him. And our Author being an extraordinary Fopling, its fit he should have a Name peculiar to his Nature, and therefore for the future, as well out of respect, as for brevity's sake, I shall call him by the aforesaid Name of Jerry Squirt. And now Jerry, let me tell you, that I think you should not have treated the Doctor with so much disrespect, since he was so fair and ingenuous, as to Print much of his Bank at his own charge, and so freely distribute them to many others besides the Members; by which it appears, there was no other design in it, than what was Noble and Honest, full of well wishes, and mighty advantages both to King and People. But alas! What can Ingenuity and good Nature otherwise expect from Fulsome ignorance, than such like rude and barbarous Treatment, as the Swine that takes no other notice of Pearl than to trample them under their feet. But to our Author, who between the new-acquired Maxims of the Politicians on the one hand, and others incomprehensible Notions, it became very Scandalous to Countenance, or espouse any thing of a proposal relating to a Bank, then certainly the Proposers and Contrivers of a Bank must be very scandalous indeed, and on that Score be had in great contempt, so than it was no wonder the Doctor could have no better Success, since the Parliament Members (as Jerry would insinuate) were afraid to let him into their House, to hear what ●e could say to his Bank, lest it seems, they should become scandalous thereby. Well, now, Jerry, having no sooner done with the Modern Politicians, who made the Name of a Bank ridiculous, and Men of incomprehensible Notions, who made it scandalous, but he presently meets with another sort full as bad, 
p. 4.  and those were, the Wits on both sides, who taking the advantage of the Nations being low in Credit, found no better nor honester way to supply the necessities of the Government, than to raise the interest of Money to triple the value or higher, and make Merchandise of the Government, which is in effect making the Government to pay great Extortion. But, Jerry, methinks it would not have been amiss, if you had well considered, who those Wits are on whom you have made this Saucy Reflection, that most of them do sit in the Parliament House and 'tis they only, that have made these Acts; for no body else, you know, have the power to triple the Interest of Money, and they have thought fit, even in this very Act you so much extol, to allow 8 l. per cent. which is 4 s. above the common Interest to all such as will bring in their Money. If now you are so bold and unmannerly with the whole Parliament, the Doctor cannot in reason expect any civiler usage from you. Now for remedy of this no better nor honester way than enhancing the price of Interest, which was but lately done, even in the two last Sessions of Parliament, Jerry says, it was proposed some years ago, that a public transferrable Fund of Interest should be established by Parliament, 
p. 5.  which would in course have lowered the Interest of Money: This now is as well said, as if Justice Clodpate himself had spoken it, to make the transferable Fund that was proposed some years ago for the lowering of Interest, to be a remedy for the trebling of Interest, that was never thought on till the other day. This looks exactly like our shallow brained Author's Nonsense, to put the Cart before the Horse, and make the effect preceded the cause: This is one of Jerry's master pieces, such a sort of st●ff as Jerry can do no better, the Lord knows. But be it how it will, the Notion of Currency presently marred all the Remedy, 
p. 5.  because there was something of Coercion in the bottom, which is of sufficient force to mar a good thing of this Nature, but never to mend a bad one. Why truly Jerry, t●is very thought of Coercion, is enough to spoil the currency of this Bank; for though Men are not forced to bring in their Money, yet when it is there, you say they cannot take it out again, and that's a Coercion, besides there are many unhappy Debtors, out of whose hands much of this Money is called, in order to be brought into this Bank, who for Nonpayment are constrained to go to Gaol, or lose their Estates to their merciless Creditors for little more than half the Value, and this is Coercion with a Vengeance. When ever you shall read the D●ctor's Proposal, you will then be sensible (if you have not quite lost all your senses, J●●ry) that your position of Coercion is utterly false, and that it is of sufficient force both to make a good thing of this Nature much better, and mend a bad one. For to have Brass Tickets pass, and do the Office of Money, when there is not half Mo●ey enough for the People's use, is a good thing or this Nature, and to have them made good by Land Security for the buying them all up again, is not to mar, but to make it much better; and if you think that paper Tickets are bad in respect of Money, why then to make use of brass Tickets, is to mend a bad one, for that they will last much longer, and not be so soon wo●e out, they are contrived in smaller Sums, and may be compared as Tallies to prevent Cheat. But all this while the Name of a Bank or Corporation was avoided, for the reason he told us before, that it was both Ridiculous and Scandalous, though the Nature of ●oth was intended, the Proposers thinking it prudent, that a design of this Nature, should have as easy and insensible a beginning as possible, ay, they were afraid their designs should miscarry, and so they managed it like an Ass eating of Thistles; to prevent, or at least gradually to soften, and remove the prejudices, and bad impressions conceived in the minds of Men against things of this kind before they are understood; they were so very fearful of a Discovery of their designs, that they could hardly tell well how to go about it, lest when it came to be laid open, the People in general would never endure it. But that sort of People, who ought and in whose power it was to encourage the Undertaking, could no ways understand it; I believe so too Jerry, it was not likely they should, after the manner as your proposers offered it, by piece meal, that is to say, a word or two now, and a little hi●t of it anon; for the beginning of it, was not like the Doctor's, to be fully made known all at once, lest it should be abhorred; but to be slided in as easy and insensible as possible it could be, or else they were a sort of Blockheads, that could not understand it in whatever manner the Proposers offered it. And what a pity it was, that this Jerry being a Man of such discerning Faculties and acute Parts, and also of a public Spirit, was not consulted within so Noble and Universal a Work as this. I warrant he would have scorned to have put them on particular undertake, that should have produced any narrow or sinister designs, but would have brought the Name of a Bank into credit with his management, and have explained the nature of i● as well, as he hath in this learned piece, which no body is the wiser for. But Jerry, what persons do you represent the House of Commons to be all t●i● while, to make use of such narrow and sinister Designs? I cannot tell how far, they may privilege you, to deal with them so over familiarly; but another Man might well f●ar his Ears of the House of Correction for so much Sauciness; f●r no body else, bu● the Members had the management of such an affair. And one thing more Jerry let me whisper in your Ear as a Friend, you ought in all Conscience and Honesty, to have discovered all these sinister proceed, and the Names of the Proposers that put them in Practice, so much to the prejudice both of King and People, because, at the same time, it hindered them from making use of Dr. Chamberlyn's Proposal, which would easily have remedied all these inconveniences, and you to keep a● this so secret for so long time and then to discover so ●mpuo●n●ly, after what manner this intended Bank was hammered out and recommend it too, as a N●b●e and Universal Work, when it is not sufficient by tenth part to serve the Nation, is a crime unpardonable: But now let us proceed, As the Proposer found discouragement from one sort of Men, who could by no means reconcile this Proposal to their own apprehensions; so others, viz. Landed M●n, seemed ●o understand it too much, and would have M●●●y proposed at four or four and an half per cent. lest the Land should be discouraged. This must needs put the Money Proposers in a fearful Sweat; a●d therefore it wa● presently found convenient to put all ●o an hazard, and expose so much of the nature of the thing, and its constitution, as was needful to have it espoused in Parliament, and 〈…〉 take its chance.  
But, quoth Jerry, though the gilded Name of a Bank, 
p. 7.  and ●he popular one of a Corporation, became more formidable to the senses of a sort of People, who wanted the Money; why how now, Jerry, how come you to give the Epithet gilded, to the Name of a Bank? For gilded things are made so only to set off that which hath little or no intrinsic value in it. This is much like your unnecessary Credit; yet what by the instigation of a few covetous Men, and some who are no great Friends to the Government, divers otherwise well-meaning people (that is to say, Fools that have not yet been named) became possessed with monstrous and frightful Ideas, and conceptions of the matter which begot whole swarms of Objections, which neither the Proposers, nor the Author will hardly ever answer; these he relates in a very Comical manner: How one pretended Patriot comes and says, this design will make the King absolute, 
p. 8.  nor is there any way to prevent it; another comes Cock a Hoop and tells ye a Story of his Grandsire, Uncle, or some of the Race who have traveled abroad and never met with any Stocks or Banks, but in a Common wealth, and some that see farther into a Millstone, than others will make it plain, that it will enhance the price of Land, and utterly ruin Trade; and lastly, that the Learned say, that the Money will run into Trade and none left to purchase Lands, and so leaves the Objectors to confer Notes; whereas had Jerry done candidly, he would not have raised Objections without answering them; however, Jerry tells us, it may be to better purpose for him to give some Brief Account of the Nature of this intended Bank, for our better Noification; ay marry, Sir, this is what I have looked for all this while, and thought it very long before I came to it, there being full one half of the Book, even to page 9 spent in telling how it came to pass we had not hitherto a Bank, and the great difficulty in getting of it at last, and now we have a Bank such a one as it is, without turning the Government into a Commonwealth, but whether it will facilitate the Circulation of Money, so as to promote Trade, by which the effects of the Nation may answer the use, and do the Office of Money without such great losses as aforesaid, is a great Question, which I hope our Author Jerry, will make ●ut plain to our Satisfaction: For though the Tonnage Act doth tell us of a Bank that might be if 1200000 l. be brought in, yet it says nothing of the Nature of it in particular, or what methods the Commissioners will use in the management of it. And therefore, I hope our judicious Author Jerry, who is so well skilled in things of this Nature, and understands neither too much, nor too little of it, but hath the true, right, and just Notion of Banks, exact to a Cow's thumb, will discover the Soul and Guts of it, together with the good effects and consequences that may be expected therefrom. But in the first place, he says, it's necessary to premise whatever our Notionists may imagine to the contrary. First, That all Money, or Credit, 
p. 10.  not having an Intrinsic Value, to answer the Contents, or Denomination thereof, is false and counterfeit, and the loss must fall one where or other; ay, Jerry, that will most certainly be found true hereafter in our scandalous clipped Money; and if the Directors of this Bank should give out Bills of Credit, or allow Credit in their Books of Account for many more Millions, than there is a Fund settled to make good, as they may, there being no body to call them to an Account the loss must fall one where or other. 
p. 10.  I cannot so easily consent to your second Premises Jerry, it being false in the consequence, for though the Species of Gold and Silver be generally approved of, yet it does not follow, that every thing else is only counted valuable as compared with these; for before the Act for Payments to be made in Money, men did exchange their Goods in Specie, without comparing it with Money, and an honest Man's Word is taken for a great value, though at the same time, he be not worth a Farthing in the World; which shows your third premise is as bad as the former. That therefore all Credit not founded on the Universal Species of Gold and Silver is impracticable; for the reason I told you before, that Goods were exchanged in Specie, and the honesty of a good Man is as well and are commonly trusted, which shows it's as practicable, and will last as long as the honest Man lives; but you have recollected yourself at last, and I believe have considered of the Doctor's Proposals, when you afterwards tell us, that at least till some other Species of Credit be found out, and chosen over and above or in lieu thereof. Indeed, Jerry, you are beholding to the Doctor for this, and if you were but half so honest and just, as you pretend to be, you would ingenuously own yourself a Plagiary, for the Doctor's Bank is founded on good Land Security, which gives every brass Ticket its Credit, and will make their value last full 100 Years, and this may be in lieu of your Gold and Silver; neither can it be so easily seized and carried away. But however, I am glad to see you hint, as if it were possible another Species of Credit may be found out; and since the Doctor hath contrived it to far better purpose, Why was it not embraced? Alas, for the reason you told us before, the foresaid company of Proposers had represented it as Scandalous. But now we have read the Premises, let's see what follows, Quoth Jerry, Thus having said what a Bank ought to be, it remains, etc. Why Jerry, I perceive you have a Memory as short as your Brains are Shallow, and have forgot what you were going to speak to, which was to discover the Nature of he Intended Bank, but not a word, that you was about to define a Bank in general, or tell us what it ought to be; but only that you would first premise, something necessary towards the better understanding the Nature of the Intended Bank, for a man can no more tell, what a Bank is, or aught to be by these premises, than by the rumbling of a Wheel-barrow, whether Jerry Squirt be in his Senses or no. Well, let's go on, It remains to show what this is designed, and wherein it will consist: So so, now at last we are come to it. This Back will consist in a Revenue or Income of Eight per cent. per annum for and upon the Money subscribed; and that profits and improvements can be made from the Business or Credit of the Bank, will be also divided among the Proprietors. O Jerry, this will tempt Men to draw their effects from Trade, because as you say in the 4th. page, They will find the best and securest gain in making Merchandise of the Government and Nation; for this is two per cent. more than the common Interest. I fear this Bank already will not prove so good as I hoped, for I thought a Bank must have had a vast heap of Money, that upon security might have supplied all men's occasions, and so because of the plenty, it would in course have lowered the interest of Money, for the ease of the poor Subjects, and not heightened it, for who then will lend their Money on Land Security at 5 l. or 6 l. per cent. when they can have 8 l. per cent. besides other improvements? And what then wi●● become of the Mortgagers? Indeed and indeed Jerry, let me tell thee, that thi● is a very pretty contrivance to beggar and starve a vast multitude of Debtors, and the Poor, only to enrich a crafty company of Proprietors, which are those few Men, that have Money, that make the people a prey to consuming Usury, and keep them under oppressions they too frequently lie under, as you say afterwards in page 15th. And thus this Company or Corporation will exceed all ●the●s of that kind, known in the Commercial World; What for Extortion, Jerry? Faith I believe so too, for he repeats it again, has here will be 8l. per cent. per annum upon the Capital, 
p. 11.  and as good and great probability of other profits as ever any Company had, all this you have told us already, but Tautology we must allow to Jerry, who I belive is a Welshman, and they have a privilege of telling their Story over and over again. Then as to the Security, etc. still you conceal the Nature of the Bank, but we must take it as our Friend Jerry can express it, 
p. 11.  The security is clear and visible and every way equal, if not exceeding the best in Christendom; I would be glad to see that made out. This Bank will always have 1200000 l. what, will they always keep so much Money by them? Or 100000 l. per annum over and above the effects to answer whatsoever Credit they may have. Suppose now Jerry they give out Credit for 10 or 20 Millions either in Books or Bybills, will the Interest of 1200000 l. at 8 l. per cent. together with 100000 l. per annum thats over and above, answer fully for the said Credit? Then for aught I can find, it will not be altogether a Money Bank, but a Bank of great Credit with a very little Money; this may serve some men's occasions in and about London, but what shall the rest of the Nation do? Suppose likewise, that a great part of this Money should belong to Foreigners, and they should constantly draw out their Interest every year for their present support, wha● then may or will the Nation get by that, when so much Money is constantly Exported? Well, a little after you mention a scurvy thing, that had been better left out, for that it discovers the soft part of your Noddle, viz. That there will be no Dividend till after some Month's notice, that such as apprehend the Security will be weakened thereby, may withdraw their effects. Why Jerry! is it possible, that a Man should apprehend any weakness in the Security, when in the foregoing page, you say, it's the best in Europe, and a little before, That the Security of this Bank is clear and visible, and exceeds the best in Christendom; and immediately after you subjoin, Thus a Society of private Men will be obliged by their Estates to strengthen and corroborate the public Security of this Bank; but how all this does appear to be so substantially corroborated by private Estates, we have only your bare word for it, Jerry; for I cannot find it expressed in the Act▪ nor any account of the men's Names or of their Estates in Print that are tied and engaged to corroborate the said Security, excepting the King's Revenue. This is like your canting way Jerry, but if private men's Estates should be obliged, it must be for the sake of the profits arising from the Business and Credit of the Bank, which whether it will be the taking Pawns like a Lombard, o● giving out Bills and Tickets of Credit like the Doctors, 'tis only time and practice must inform us, yet still we shall have need of this Act to conjure every Man's imagination into a good opinion of the said Bills, unless there was such plain and visible security for every Bill or Ticket, to the satisfaction of all Men, as is made appear in the Doctor's Bank, so as there is not room left for an objection against it. Now if Jerry had discovered the Nature of this Bank plainly, as at first he promised, and let us have known, if any body else should have been the better for it, besides the Proprietors, or that Men might be supplied at any time with what Money they wanted on good Security; or how otherwise it may, and will be serviceable to the Poor, and public in General, as well as the Rich: I should have believed he had understood all he pretends to, and have thought him an honest fellow; but it is not the first time you have broke your word, Jerry. But since you have granted, that some Men through fear of the worst, may withdraw their Effects, why may not I ask as well, what if the major part or all at once, should draw out their Money, as formerly, out of the Bankers Hands at the shutting up of the Exchequer? Or what if the Managers run away beyond Sea with more Money than they are worth, there being many Foreigners in the Bank, where then will be the Fund to secure all and corroborate this Bank? And though I doubt not but all is secure under our present King and Queen, yet another King may venture to shut up the Exchequer again, who then shall they sue? All, or some of the Company? And what if they are all protected, as the Bankers formerly were? Tho you will not trouble yourself to answer Objections, yet moneyed Men who are many of them very timorous, will first be answered e'er they'll bring in their Money, or be apt to withdraw out their Effects, when swarms of Objections shall arise, that cannot be answered; lest also this Intended Bank should be out of all their reach at last, as you said of the Doctors. In the 12th. page you have bethought yourself Jerry, and think it necessary to answer one common Objection, of the danger of the Change of Government, though you will not trouble yourself about swarms of them, and in this you are much mistaken, as in most other things, when you affirm this foundation is grounded on a Revenue that cannot fail, but with the Nation: Partly for some reasons I have showed just be o●e, and especially in cases of Conquest, which is and will be the greatest alteration of Government. The Fund of private gentlemen's Estates will be far more secure, than the Fund of this Bank, (though confirmed by Act of Parliament) whose Interest comes out of the Exchequer, w●●ch will be under the Conquerors immediate management and disposal; but the Conqueror's never trouble themselves to alter private contracts made on gentlemen's Estates, for ●hey take another method, which is to lay heavy Taxes on them, because the● will easier r●ise more Money out of them in that manner, then if they seized all their Estates in their own Possession; and therefore private Estates are more secure and certain, for all this while the Nation may not, neither will it fail, but the People will go on with their Trade and Business still as before. In the next place, Jerry being about to show how this design may redound to the improvements of the Trade of E●gland, must first make a remark on our Politicians, who are so curious as to split every thing to an Hair, who being possessed with a sort of factious Reason, which runs extremely on Divisions and Separations, so that when anything proves to too heavy for their Heads, that they cannot apprehend it, they presently divide i●, and reduce it to such confusion as no body else can understand it. Ay Jerry, you are in the right on't; for these Politicians and Mercurial Heads do think themselves the wisest Men in the World, and no body understands any sense but they, because they have the knack of Prating, and starting new Notions, and swarms of Objections; their Talon being not so much to remove inconveniences, as to find them out: But they are all of them mistaken, and so let them go for a company of conceited Momes as they are. 'Tis well for us that we have got such an eminent Man of Parts, true Sense, and right Reason, as Jerry Squirt, who is so dextrous in the finding out the most secret Intrigues, and subtle contrivances of all the the factious Cabals, or else he could never have given us such a notable account of the Politicians new acquired Maxims, and the Mercurial Heads incomprehensible Notions, together with all the managements of the Proposers crafty designs; and though they have endeavoured to reduce all things to an unintelligible confusion, yet our judicious Friend Jerry is so Prudent, and good Natured, as he will consider how this Bank may be beneficial to both the Interest of Land and Trade, for the general good of all. How happy would it be for this Nation, if all our Politicians and Mercurial Men had but such Heads as our Friend Jerry has upon his Shoulders! then we should be wisely governed I warrant ye. But now that I may not make too large a digression, for which I hope the Reader will pardon me, since I have the Example of a great Author before me, I will return again to see the Benefit of this Bank; where Jerry, in the next place, hath by a lucky chance found out, that its a sign Money is plenty when Interest is low. 
p 13.  Sure he cannot call 8 l. per cent. low Interest? Oh no! but if the Bank can with 2 or 300000 l. circulate 1200000 l. it will be as good as a Million brought into the Nation, besides the effects increasing, will advanctage Trade by the secure way of Reciepts and Payments, 
p. 14.  its safety from Fire, and Thiefs, and other disasters, which Gold and Silver are subject unto, (but not Books of Accounts, Bank Bills, or the like) all things considered, when put in practice, will naturally and gradually lower the interest of Money, that is to say hereafter, in a great many years to come. Pray, Sir, what is a million extraordinary when the Nation wants Twenty Millions? Besides, unthinking Jerry does not consider how many Persons are necessitated and arrested, out of whose hands, much of this Money is called to put into this Bank for the sake of the great interest, and that none of them can be supplied on the best Security, when the moneyed Men, can have 8 l. per cent. Which way then is it likely, that interest can be lowered? Since the act itself hath advanced the price of it. The effects of this management, does not add so much Money new coined to what we have already, but it will harrass one part of the People to enrich another, and considering the King has much of this Money abroad, and none returned, or new coined, Where then is it to be had? Will it be in Bank Bills? Why then the Doctor's brass Tickets are better. I hope you will not now say, that these are the groundless jealousies of Men, when every days experience makes it good, and there is so general a complaint for want of Money. 
p. 15.  As to the Good effects that Banks have had in Holland and Genova, it hath been the practice of many Years to bring to perfection there, and so it will require here, but how shall the people be supplied in the mean time? For it cannot be expected, that the effects of the Nation will command the use of ready Money, when there is none to be had, neither will there be any yet along while, almost as innumerable Years to come, whatever Jerry does imagine, but we shall still be a prey to consuming Usury, and lie under the oppressions of those but few (as you say) that have Money, unless like the Doctor's Proposal there had been Twenty Millions of Credit more, added to the present Money, than it would really have proved a most beneficial Bank. And though you say, it cannot reasonably be supposed to make an alteration in the Government (I hope so too) but it's more likely with this kind of Fund, than that of gentlemen's Estates; because this way, it's the Subject pays the great interest of of this Bark in a continual settled Tax, which like the Chimney Money, will always be uneasy to them, as long as it lasts. As to the unusual Oppositions, you fancy, this Bank hath met withal; 
p. 16.  I never heard, that it had any at all, but it seemed rather to be huddled up of a sudden, and passed privately, as it were in an hurry in the House, before any one had time or liberty to make Objections to it, lest the Doctor's Proposal should get the start of it, because the Doctor had fairly answered all the swarms of Objections, that either Parliament Men, or any else, could bring against it, and no proposal ever had more; besides it had passed the approbation of two several Committees, especially the last, which was Printed in the Votes: After that, it was again moved in the House that the Doctor might be heard, which was impossible it seems to bring to pass, for the reason you told us in the 5th. page, because this small intended Bank was secretly carrying on at the same time in opposition thereunto, the Proposers thinking it prudent a design of this Nature should have as easy and insensible a beginning as possible, to prevent, or at least soften, and remove the prejudices and bad impressions, viz. the swarms of Objections in page 7th. (which their Proposers could not answer so well as the Doctor did his) and this did therefore put the Proposers on heightening Interest and particular undertake, producing narrow and sinister designs no way becoming so noble a work all which the Doctor would have abominated, his proposal no ways requiring the assistance of such unbecoming Practices. As to your thought of the Funds for Lives and Lottery, they had been much better applied to the same's uses with this Bank; though I doubt, all would have been too little to answer the ends both of King and People What great Civilities you have shown to Jacobites, Usurers, Brokers, and the Haman's that they should so much oppose it, 
p. 17.  I cannot tell, but I am sure you have not showed any at all to the Doctor, who never opposed yours, but only proposed his own: However, you might have added a fourth sort, who though they may not be endued with so large a capacity as our Jerry Squirt, yet give as good a reason for their dislike as any you have for your approbation of it, which is, that they think it too small a sum to set up a Bank, and serves only to make us ridiculous to the rest of the World, for vexing so many needy Debtors to make up such a sum, as a Million of Money for a Bank in a Nation, that hath lately been so much drained, and do want at least twenty Millions, which the Doctor's Proposal would have supplied, or else the Committee would never have made such a report of it. But after all, you say, the effects of this Undertaking will be best understood in the practice thereof; I am sure it cannot in the Theory you have given us, and for the practice it will be to the Nation, much after the same manner, as to a Man that wants 2000 l to pay his Debts, and you lend him but 100 l. At last Jerry is drawing to a Conclusion (make us thankful, for I am almost tired with him) reproaches are the common fa●e of good and generous Undertake, true Jerry, but this cannot deserve so good terms being so little, as the whole sum is but a 5th. part of what the King will want every year to War with France, and if the War should continue (which God forbidden) two or three Years longer, what must become of us or the Bank then, Jerry? It is the smallness makes it despicable, and it's liable to all the Objections that were made against the Doctor's Proposal, which you before told us cannot or will never be answered. But as you said before, The nature of Men being fond of their own Opinions, out of a presumptuous Principle, think none knows more than themselves; little dreaming there is such a Man in the World, of such prodigious intellects, as Jerry Squirt the great Author of the Brief Account of the little intended Bank of England, who is able to instruct them both by Reason and Rule. Lord what pity it was, that you did never discover yourself before to the World? That so the Politicians and Mercurial Heads, the pretended Patriots, the Wits on both sides that understood it too much, and the Blockheads that could not understand it at all, together with all the Objectors, ay and the Doctor too, might all have come to Jerry Squirt, to have been better informed in the true Nature and right Notion of Banks. Most certainly the Doctor had never miscarried, it he had gained Jerry for his Council; but I doubt it was the cunning of the Proposers, to conceal Jerry and his Advice, till they had obtained an Act of Parliament, and then there was no Man in the World could be so fit to explain the Act, and give an account of the Nature of the intended Bank, as Jerry, who so well understands them, and was privy to all their secret proceed, even to their narrow and sinister designs, that were no way becoming so noble and universal a Work; all which, like a good Honest Man, that hates such Sordid, and vile Actions of the Proposers, he hath fully discovered; who notwithstanding the apprehensions and difficulties, that were in their way, have not been discouraged from doing their utmost to bring the designed work to perfection. Well, Jerry, I allow you to be a Man of Parts, only you have one fault; and that is, you tell nothing but all you know, which was beside your Text, for you promised only a Brief Account of the intended Bank, but instead of that, you have given us a long Account in the first half of your Book of the want of a Bank, the miscarriage of one that was good, and the sinister designs, that were used in procuring the future intended Bank, that's worth nothing: Can not you have been contented to have told us the Brief Account, without discovering by way of introduction all the sinister designs, that were unbecoming your Proposers to bring it to pass? Who would trust Jerry Squirt with a Secret for the future? Tho you ridicule the Doctor and his Bank, yet you cannot accuse him of any sinister designs or practices. However, in so doing you have done the Doctor this kindness by it, as to put the People into a farther enquiry, whether it be practicable and profitable as the Committee reported, or out of both King and Peoples reach as you say it is. One thing I had almost forgot to tell you, that it is a great pity but the World should know the Names of these Worshipful Proposers, that all due praise and respect may be given to their profound Noddles, that have taken so much pains, and used such narrow and sinister designs to remove difficulties, which no Man had opportunity to lay in their way, to the hindering of this rare Offspring of their Brains from being brought to perfection; and now since they have been so lucky at last, pray let us ring the Bells, and make Bonfires for Joy, that all Difficulties are surmounted, all the Hobgoblins and frightful Monsters are vanquished, all the horrid Spectres are conjured out of the possessed, and the designed work, even the intended Bank of England is brought to perfection. 
p. 18.  But now for a finishing ●●●●k at last! The work of perfection seems to be reserved for such a time as this, the better to enable the Government and People of England to Revive, Recover, and Transmit to posterity the Virtue, Lustre and wont Glory of their renowned Ancestors. Hum! there is Salt in this, Jerry, and admirably well seasoned indeed! Who's that now, that accuses Jerry Squirt of Reflecting on the Parliament, none but a company of vile Tongued People, that will always be casting Dirt at their Betters. I would have you to know, that Jerry is as Accomplished, Well-bred Gentleman, and as rare an Orator too, as any of all your Wits, Politicians, Mercurial Heads, pretended Patriots, ay or your Rabble of otherwise well-meaning People too. The truth is, Friend Jerry, this is such a flourishing high Touch, as far exceeds all that ever went before, and the Parliament is so high obliged to you, that for aught I see, by all means they can do no less the next Sessions, than go into a grand Committee of the whole House, and Vote Nemine Contradicente, that Mr. Jerry Squirt shall have the thanks of this House. O, brave Jerry! in good Faith 'tis you will be Cock-a-hoop now, Pray Sir, who shall have the Honour to hold your Horse? Well, Jerry, I see thou art a notable gifted Man, and one would not think there was half so much in thee as there is. But for Discourse sake, let's turn the Tables a little, and see what would you have said Now Jerry, if your designing crafty Proposers, had offered such an excellent proposal as the Doctors with twenty Millions of good Credit, and that fairly without any narrow and sinister designs with an answer to all Objections? And the Doctor should at the same time have endeavoured to promote such a Pigmy or piece of a Bank as they have got, and have used all the narrow and sinister designs as your Proposers have done, without answering any Objections? How then might or would you have magnified and extolled your most noble Proposers up to the Heavens, till you had been wrapped up in an Ecstasy for Joy, since you can commend them so much on so little occasion? And on the contrary, how would you have Ridiculed, Vilified, and Exposed the Doctor for his narrow project, carried on too with such sinister designs? I believe you would have so shamed and disgraced him, that he must never have dared to appear again, any more than a Dog that is outlawed. Now, therefore Jerry, let me tell you by the by, that unless you could have projected something extraordinary, that would far have exceeded the Doctor's offers, it is not fair dealing to condemn a Proposal, that is so very good and great, and trump up another narrow one in the place of it, that hath been carried on with such sinister designs, and comes so much short of doing good, as it hath occasioned much trouble to many Subjects. Well, but for all this, Jerry, must have one word at parting, and so Farewell, viz, That this Bank will lay a Foundation of Trade, Security, and greatness within this Kingdom, for the present and succeeding Ages; Ay, Jerry, but I fear it will be such an innumerable many Years to come, that you and I shall hardly ever live to see effected by this Molehill of a Bank. The truth is, you do deserve a reward for recommending to the Nation such a Bank, that is thus brought to perfection, I say, Jerry Squirt, you do deserve a Reward, but it should be that of a Dog-whip, which is most fit for such a Yelper.  
FINIS.   

Sold by Randal Tailor near Stationer Hall, 1694