Some THOUGHTS humbly offered to the Consideration of the Members of the Honourable House of Commons, concerning the CREDIT of the Nation.  
A Midst the Thoughts of several Persons, and some of this kind, I venture to advance Mine, with Submission, in this Conjuncture, that, if possible, the Necessity of the Nation may be Answered by the Success of this Sessions; whereby they may leave the Nation easier than when they met; which, I would believe, is the desire of most of the Members, if the way were clear, through the Experience they have had in their several Stations during the last Interval. The Parliament has been so happy to have the Necessities of the King and Nation hinted to them at their first Meeting, which doth no less show the Knowledge and Understanding the King had, than his Care of both.  
The Necessities of the King's Supplies you have agreed to answer, and extraordinarily too; viz. the Raising them within the Year: And since the King was pleased to join that of the Nations with his own, 'tis hoped it may be answered as fully; viz. the CREDIT.  
That the Trade of England did always require it, no Man of Thought but knows, even in Time of Peace; nor can any Man suppose, that in Time of War (when large Taxes must be paid, the disappointments of long Voyages and losses by Sea) the Trade of England can be complete and answered by the running Cash. No, 'tis too great a disproportion between the Trade and Cash, to be carried on without the help of Credit.  
Not to suppose the lessening of the Cash, by the Recoining of the Money; yet the Extinction (as one may say) of Credit happening thereupon, for want of due Payments, is enough to lessen the Trade and Commerce beyond compute, which, must by sensible Degrees, be felt by all; from the King to the meanest Trader or Subject.  
This being really the Case and Credit the only thing to avoid the Ruin of the Trade of the Nation, 'tis humbly Proposed, That you may not part without answering this Necessity, so timely recommended to you by the King and so much needed by the People. This Credit ought to be Sure, but Established.  
To be Sure, because none should be deceived: To be Established, because common Credit is failed; and though a real value be at bottom, the incredulity of all is such, that it will make no satisfaction in Payment.  
For what Man, though worth 10000 l. in Land, etc. can Purchase Goods at the same Rate he could two Years ago on his own Note, or Mortgage for any Sum as at that Time; nay hardly now at any Rate; though equally able then, and now: This happens for want of a common Credit more than want of Cash, for the Cash we now have is able to circulate a Credit as before, especially with the help of the Plate, etc. to be Coined, but the Credit is wanting, and hardly any sum can supply the want, therefore need of Credit.  
And seeing none but you have Power to Establish it, so none so able to secure it; neither can the Imposition be thought hard, where 〈◊〉 Security is good.  
You have readily Voted (for the Honour of Parliaments) and m●●● some progress, to make good all Parliamentary Funds; I conceive, 〈◊〉 likelier Security can be offered, than Your own, as a Parliament, to establish Credit on.  
No doubt, but what is done and intended in thus resolving to m●●● good all these Funds, is to raise their Credit, and make them useful; 〈◊〉 that alone will never answer the End, nor cure the general Loss of Credit; because the most Necessitous will be least helped, and the less n●●●ful make the Advantage as Particulars; but a general Credit will ra●●● sink, then augment by this means: For if the Parliament decline ●●king the present Funds a Credit, in whose Power it is to secure it, it 〈◊〉 happen, that the People will think them Precarious, and then can n●● Advance but Decline and share in common Credit; which is very h●●● that a Parliamentary Credit should fall below Private men's, when 〈◊〉 resolve to secure it, and have Power to value it. 'Tis therefore hoped 〈◊〉 this Exigency, you will effect it, who cannot doubt of its Security without denying your own, nor be ignorant of the Necessity, if consider y●●● own.  
That it is practicable without grievance, if acted without fraud, I 〈◊〉 fully persuaded, and without any new Charge to the Nation, accord to the Following Thoughts; which as they are rough without Comp●●tion, and not fully digested, may serve for a hint to be improved by more ingenious and sedulous in these Affairs, particularly R. Murray who 〈◊〉 painfully Thought and lately offered his Thoughts on something like 〈◊〉 and no doubt, but several are ready to offer something when you sha●● resolved to establish a Credit on your own Security.  

The Proposal or Practice in General, leaving the Particulars till 'tis res●●● to be done. Since it would be tedious to insert, and trouble to adjust, 〈◊〉 perhaps in the end be thought not fit for Practice.  
THat an Office be established by Parliament (which may be 〈◊〉 theirs) Commissioners appointed by them, of their own Mem●●●● or others as they shall think fit. This Office to be under the Cogniz●●●● of the Commissioners for public Accounts, who should Report it 〈◊〉 Sessions. The Commissioners to be chosen anew every Sessions those for the public Accounts are.  
These Commissioners, and all under Officers, may be rewarded by following Method, without fresh Charge to the People.  
That all Tallies struck upon appropriated Funds, may (if the Propraetor please) be brought into the Office and receive Bills of Credit for 〈◊〉 Principle, in Sums suiting their Occasion; provided none less than part or all of the Interest being allowed for the Charge of the Office. if only part to the Office, than the other part to be continued on the ●●●ning Bills, these Bills and Interest (if any) to be made a legal tend all Payments, and to be paid off Annually, as the Tallies should have 〈◊〉 in Course, or a part of every one, if it be thought fit; this in so many 〈◊〉 as the Tallies now would be paid off in, will reduce all these Bills a●● and the Nation have the Advantage of the Money all the while; which have considerable Effects upon all: For by this the several Proprietor such Tallies will be capable to pay their Debts, by receiving their own. The Bank receives its Debts, and pays their own; which will enable a great many more not only to do the like, but to Advance in Trade. This will enable the Bank, and others, to make fresh advances to the Crown, with this Assurance, That they shall not only be truly paid in specie, in a little time; but neither they, nor the Nation will want the use of the Money in the mean time. Thus all the advances to the Crown will never lessen Trade, because it don't the Means: Which Means is Money and Credit; but if there be no Credit, and the King's occasions calls for the Money, both the Hands of Trade are fettered, if not cut off.  
Obj. Whether it be reasonable for the Persons that possess the Tallies 〈◊〉 lose their whole, or part of, Interest due.  
Answ. No Compulsion being laid for their bringing in their Tallies, ●akes every one Judge of his Interest in this matter. But since they know ●ot how to convert them now to any use, without 20, 30, 40, and some ●0 per Cent Loss, none will think it hard, or very few, to have redress 〈◊〉 much to their advantage.  
Obj. That if these Bills are made Current in all Payments, all the ●●ings Taxes and Revenues will be paid in such.  
Answ. If the King had no Occasion for Money abroad, it would serve his Occasions as well; but as he hath, it is much likelier he should be ●●rved with Money for that use, when these Bills, the mean time, will ●●pply his, and the People's wants at home. But further, when Bank ●●d Goldsmith's Notes were Current (to the Value of more than these ●ills of Credit) and taken in Payment by all, had the King no Money 〈◊〉 Specie; or has he more now, when there is no Credit (as it were) current? The Exchequer can tell best. Nor is it possible the whole can be paid in such Bills, since great part of the Taxes are paid in small ●●ms, and must be so. Neither is there any difference made by Men 〈◊〉 business, whether they pay, or receive Money or Credit, provided ●oth be Current and answer the end of Payment.  
Some Moneyed Men may think it Injurious to them, because it thwarts their Interest, but since the effect of their Money is to serve none but themselves, at the Loss of the Needy, nothing morc fit to be done, ●●an to make their Money useless, upon this Occasion; for the less Credit there is, the more the Money is Valued; the more Credit, the ●●ss the Value of Money daily Experience shows: And by this, instead of begging Moneyed Men to discount Tallies and Bills at too great Rate for the poor Tradesmen to Live, the Moneyed Men will once gain Court the Landed Men, to take it at 4, 5, and 6. per Cent. when the necessity of Trade is answered.  
Tho' this Credit, in few Years will be at an end, and every Year lessened, yet it can't be doubted but common Credit will grow Proportionably, and at the end of one, the other will answer it: The Nation, in the mean time, being supported under two of the greatest Difficulties it ever Laboured under, at the same time, viz. An expensive War, and Recoyning of the Money.  
That this Proposal would advance Credit, I would Propose this for an Example, viz.  
If the Parliament were now making Progress in such a Bill, and like to effect it, no Body will doubt but Tallies and Bank Notes would fall 10 or more per Cent before the Bill should pass; and when passed, 1. per Cent would command more than 10 now; which if true, 'tis beyond dispute that Money and Credit would be nearly Reconciled, which is the thing wanting.