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A25436 Angliae tutamen, or, The safety of England being an account of the banks, lotteries, mines, diving, draining, lifting, and other engines, and many pernicious projects now on foot tending to the destruction of trade and commerce, and the impoverishing this realm : with reflections thereon of great import to all sorts of people / by a person of honour. Person of honour. 1695 (1695) Wing A3182; ESTC R25244 18,676 36

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or Banks or Projects of any kind whatsoever and so consequently what I have already deliver'd or shall is void of all sinister Design private or particular Aim Revenge or Resentment and there are many Pretenders to Publick Good but no such sincere Pursuers of it as my self The Money-Bank follows next and made a great Noise at first and fill'd apace with Subscriptions but now the last mention'd and this like two Whores being both of a Trade cannot agree but are continually pelting one another with Reflections and Wipes both in Writing and Print in Letters and Advertisements and pretend to Predict the Condition and Fate of each other which I believe they may very well do without consulting the Stars or the Pretenders to the Knowledge of their Influence indeed they themselves may best do it knowing the false and slippery Foundations they are built upon and the undue Measures they take to support them notwithstanding the substantial and solid Security of terra Firma This Bank is indeed more Self-interested and Narrow-soul'd than the former which is more diffusive in their Profits to every individual Subscriber who shall snack whereas the Money here is to be shar'd by the Lenders and Managers only This Bank differs some small matter from t'other but in its Tendency to the Destruction of Trade in general is of the same Malifick Nature The next that presents is of Paper of Notes or Bills of Credit to pass to and fro from one to another in lieu of Coin 't is said to be impracticable though the zealous Projector thinks it not so nay some say unintelligible though he denies that also and threatens if it won't go down here in England it shall travel to Denmark or France in the last of which Places he is sure it will be receiv'd and cherish'd the Necessity of their Affairs will reduce it speedily into Practice and the great Soul of that Prince will soon find a Reward for the Projector suitable to the Greatness and Utility of this wonderful Proposal which will enable him to Conquer all his Neighbours his Paper holding out longer than their Money But good Nature common Prudence and love of the Country where he lives keeps the Projector from unbosoming this Secret to Foreign Powers of which this Kingdom is not as he says worthy because they will not listen to their true Interest so heartily and chearfully offer'd in this time of their Exigency involv'd in an expensive Foreign War which when it will end no Man now alive knows or can make any tolerable Conjecture I have no Spleen against this Undertaking in particular having been courted to be a Member with offers of advantagious Terms which I scorn'd and rejected but I think this would have a fatal Tendency and confound rather than benefit us The chief Design of the Master of this inestimable Jewel being as I am fully satisfied to have the Top-Conduct of the Affair and besides a mighty Salary to have a round Summ for his Service There is Self-Interest and Advantage at the bottom of all these Designs The Money-Banks will all fall in upon Monopolies though I think this may not for Paper will never pass so currently as Coin without a National I mean a Parliamentary Security which I believe will hardly ever be obtain'd The Orphans Bank I think is the next in succession and in that we will keep the right Line The Pretences were fair and plausible for the Establishment of this Fund Compassion and Tenderness to the Poor and the Distressed indeed thus far it has done Good it has quicken'd that old Debt which though it receiv'd new Birth from an Act of Parliament yet it wanted Warmth Heat and Vigour which it has gain'd by this means and the Credit of that Debt is much advanc'd by this Method which is a real Good and commands Applause But yet even at the bottom of this Charitable and Pious Project Self-Interest and Private Profit lies securely entrench'd and that will be found at the foot of all their Accompts let them say what they please to the contrary We shall make the nimbler Transition over this because it has not the shadow but substance of real Good and merits our Praise rather than our Censure if they keep within due Bounds without running upon Monopolies to which they 'll be mightily tempted whenever they find themselves Masters of much Cash and they being many of 'em Merchants will know how to lay it out to the best Advantage for themselves The Fate of this as well as the preceeding Banks we shall attend with Patience They are but newly born just come into the World do not shew themselves in their proper Colours or act by their own free Will but rather under the Tutorage and Protection of others A little time will shew us the good or the Evil that waits upon them But now for the Embryo-Banks which are begot but not brought forth for these Repositories are as fertile as the Womb and by mingling Matters procreate and send forth their like what shall we say to them that are not yet shap'd or lick'd into form They are much of the same Nature with the rest and will differ when they come into the World nomine tantum I have been amongst these latter Projectors and find their Plots all tend the same way they are like the Authors of the present Age they write but what was written before only give the Book a pleasant new Title which goes a great way in the Sale of it the greatest part of the World being Soft and Silly and taken with Sound and Emptiness the modern Men I mean the t'other Sett of Projectors all hug themselves with the glorious Prospect of great Profit arising from their own dear Notions as they call them though they are borrow'd being but Grafts or Cyans young Sprouts from an old Tree the great Salaries and the Lumps of ready Money hugely please them the living in Committees at the Publick Expence is no inconsiderable Matter because it saves them so much in the Pocket These will be pernicious and destructive if ever they come abroad and therefore should be crush'd while an Egg only If like those Noble Universal not National only Banks of Venice Amsterdam Genoa Paris Hamburg they tended to the Promotion of Trade and Security of Coin they would merit an Establishment Such a one as the Bank of England the best of them all our All has obtain'd but these are Mushroons very insipid without abundance of good Pickle they come out of Season and will hardly be worth the Preserving The London-Bank as one is to be call'd which is now preparing for the Press that it may appear in Publick as well as the rest is of the same Leaven propos'd to be manag'd by the Principal Magistrates and Chief Citizens to give Reputation and Encouragement to the Project But in this the Projectors will infallibly miscarry because the Chamber-Conduct was so bad and the City yet remains