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A93525
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Some reflections on the brief account of the intended bank of England whose author's name is supposed to be Mr. Jerry Squirt.
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1694
(1694)
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Wing S4586A; ESTC R184450
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16,896
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12
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SOME REFLECTIONS ON THE BRIEF ACCOUNT OF THE INTENDED Bank of England Whose Author 's Name is supposed to be M R. Ierry 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 Tunnage 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. Chamberlyn and his Proposal as if he had a design to offer both up a Sacrifice to Publick 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 gratifie 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 begins very aukwardly when he tells us That the want of a Bank among other inconveniences hath occasion'd 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 Scrible 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 Vse of Banks have been the Discourse and Expectation of many years but still our refined Politicians thought it would not be setled here without a Common-wealth 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 Publick Funds quoth our Author were entertained by some Mercurial Heads Dr. Chamberlayn 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 tho he doth not Name him is so plain in his Description as if he did point him out with his Fiâ—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 publickly â—owards the promoâ—ing a Bank this last Sessions especially which by his several papers Printed at his own Charge and delivered to the Members doth fartheâ— appear at which time he patientlâ— endured all the Scorn Derision and Contempt of many Men and among them possibly were several of the Proposers of this Bank tho 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 iâ— than i's possible for this or any thing else that hath hitherto yet been offer'd 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 sovl the better to set off hâ—s own for he is not without his narrow design too which whether iâ— will or no will be seen anon p. 2. And thus he begins in telling how the Notion of Banks was entertained by some Mercurial Heads to whom the danger of Vâ—â—lâ—â—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 't is well enough exprest for a Buffoon and if all were true as our Author writes the Doctor would appear as shallow Brain'd 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 Baâ—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 ones reach when the profits and indeed the Bank it self 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 Tunnage Act if not redeemable in a few years and this did want an Act of Parliament at least to conjure every Mans 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 Summ 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 shewed his Talent to purpose and hath strained in an extraordinary manner for this flight of Fancy and seems to hug himself for his extravagant Thought tho this whole Paragraph is cram'd with nothing but Romantique Stuff which without doubt cost him much labour of Brain in Composing and I can hardly believe
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 Could 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 proffitable 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 hindring of this rare Off-spring 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 â—â—â—â—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 wonted Glory of their renowed 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 Tongu'd 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 ought 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 't is 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 extoll'd your most noble Proposers up to the Heavens till you had been wrapped up in an Extasie 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 out-law'd 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 carryed on with such sinister designs and comes so much short of doing good as it hath occasion'd 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 inumerable many Years to come that you and I shall hardly ever live to see effected by this Mole-hill 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 Taylor near Stationer Hall 1694