A LETTER from a Gentleman in the country, to a Member of Parliament, about AN EXCHEQUER-BANK.  
SIR,  
I Received from you a printed Paper entitled, The only way to have the Rents of England well paid, and also help Trade, and supply the Government. Upon reading the Title I was well-pleased; but my Courage was quickly cooled, and my Joy much abated, when I found in the Body of the Paper nothing proposed but Ruin to us Country-Gentlemen, and to put us in a worse Condition than we are in already. When I saw the words good Credit in the first Paragraph in a distinguishing Character, I expected to have found something recommending a Credit to be raised upon our Land; but I perceive the Author of that Paper never designed it, but has dealt with the Freeholders as we do with Children, thinking to please us with Trifles, or with what is worse; and to ruin the landed Man under a Pretence of showing him the only way to have the Rents of England well paid; for instead of pursuing the Design of the Title, and telling us how to raise a Credit upon our Estates, he tells us only a long Story how to make Exchequer-Tallies pass in payment, with 4 or 5 l. per Cent. per Annum running Interest.  
Sir, You cannot imagine how great Consternation we are in in these Parts: One is for selling his Freehold Estate, and turning his whole Purchase-Money into these Tallies, which he well observes will bring him in more than his Land by 20 l. a Year in every 2000 l. Value: Others dread being called upon for the Money they owe upon their Estates, concluding,( as they well may) that the Mortgagees will not continue their Money any longer with them upon their Estates, which they cannot command when they want it, if they can have the same Interest for their Money while it lies by them in their Chests: Others again, who must take up Money upon the Security of their Estates, do now despair of being supplied, for the aforesaid Reasons. In short, we are generally concerned that tho nothing is yet done for the landed Man, besides taxing him with 4 s. in the Pound; yet there are a sort of Men who are for promoting Projects in Parliament to ruin them.  
I cannot but observe how industriously this pretended Champion would shame us off, telling us, That had we a general Register in England, whereby Titles might be perfectly secured, and the transferring thereof made easy and short; a Method might be proposed to make even Land serve all the Uses of Money. 05 I am glad he acknowledges that Land may be suited to such Uses; and as I remember such a Method was laid down last Sessions of Parliament in a Treatise on the late Funds. But( says he) that is rather to be wished for than expected. He would have done well to have given us Reasons for it, for I think it may be both wished for and expected by the Freeholders, since it can injure no Body, if it be fixed as it may be, but be a Benefit to thousands. But( says he) I see nothing at present can supply the Use of Money for Rents, Debts and Taxes, but Tallies payable on demand. And why may not Bills issued out on Land-Security, payable on demand, supply the use of Money as well as Tallies? 'tis true, he proposes 600000 l. in Money to circulate 2500000 l. Value in Bills; and if you will encourage a Land-Bank, I am credibly informed that three times 600000 l. in Money will not be wanting to circulate the Land-Bills; nor will there be a Scarcity of good Titles and fair Estates to be a Fund for such Land-Bank: Which Bank will not only be able to supply his Majesty, and answer all our Occasions, but 05 will serve for more than all those Uses proposed by our Tally-Merchant. And therefore as this Gentleman proposes to you to make an Experiment for the 2500000 l. and deliver Tallies for that Value, I humbly offer it as my Opinion, That you would rather let the Experiment you shall make, be in favour of the landed Men, whom you well know have all along born the greatest Part of the Taxes, and not by such new Ways as will inevitably ruin them and their Families.  
I find the Gentleman hath hit upon one Objection himself, viz. That it may give too large a Power to the Exchequer: but he solves this Objection very lamely, viz. Those( says he) that have the Management hereof, being limited to a certain Sum, they can no more give out tallies payable on demand exceeding the Sum limited by Parliament, than of those payable in Course; for all these Tallies may be numbered, and the Account kept as exactly as now. I see no reason to doubt his Majesty's Justice and Honour, or that he having ventured his Life in the defence of our Liberties, will ever attempt to invade them; but are we certain who may come after him? Pray, Sir, consider, What would not some of our former Kings have done had they had such a Credit lodged in the Exchequer, when they wanted not Will, but Money and Credit only to enslave us, and to render Parliaments useless? What Punishment or Penalties can you inflict on those who having the Management of such a Trust shall exceed or abuse it? Would you inflict upon them a corporal Punishment? a dispensing Power renders that insignificant. Would you amerce them for it? To whom must the Forfeiture be paid? if to the King, no Prince will ever suffer such a Penalty to be levied upon a Subject for obeying his Command, but will most certainly remit the same. Are the moneys rising by such Forfeitures to be disposed of by Parliament? such a Prince will take care that no Parliaments shall meet to take cognisance of, much less to dispose thereof: nor, if once the Exchequer have such a Credit lodged in it, will he ever want them; and therefore when you place such a Credit in the Exchequer, it is my Opinion, That you may at the same time discharge the Subjects from the further trouble of sending their Representatives to Parliament.  
Sir, It is dangerous trying Experiments on things that may unhinge the Frame of the government, if not dissolve the Government itself, and then to put yourselves upon finding out Expedients to prevent the Destruction of it: If my House were in danger of Falling, I would endeavour to prop it up, but no wise Man will cut asunder the principal Beams, Girders and Rafters of his Ho●●e, in hopes of securing the same by cramping it with Iron: and I doubt not but you will take heed of such State-Empericks, who provided they can get a Penny themselves, value not tho( by their so doing) they hazard the Nation.  
I am, SIR, your faithful Servant, B. J.