Selected quad for the lemma: cause_n

Word A	Word B	Word C	Word D	Occurrence	Frequency Band	MI	MI Band	Prominent
cause_n	believe_v	good_a	great_a	1,387	5	2.5396	3	false

Text snippets containing the quad

ID	Title	Author	Corrected Date of Publication (TCP Date of Publication)	STC	Words	Pages
A70374	A discourse concerning banks	Janssen, Theodore, Sir, 1658?-1748.	1697 (1697)	Wing J485A; ESTC R8919	5,076	8

A Discourse concerning BANKS AT this present time when so much is thought to depend upon the well-modelling of a Bank in England a short Account of Banks settled in other Parts 't is hoped will not be unacceptable to the Publick I am the more induced to give this Account by the reading of a Paper lately come abroad debating the Reasons for and against Ingrafting full of Notions so directly opposite to what I ever heard or understood of Banks that there is good Ground to believe the Author having had a Share in the Management of the B. of E. and his Opinions having prevailed hath been in a great measure the Cause of all the false Steps that have brought so excellent a Constitution under this present Disrepute The great Mistake of this Gentleman which leads him into all his other Errors is That a Bank ought to get and therefore to admit of new Sharers in that imaginary Profit is a manifest Self-denial The best way to confute his Opinion will be to shew the Practice of other Banks and thereby make it appear that they have been very useful to the Publick and wonderfully beneficial to themselves without ever aiming at any other Advantage than that of circulating the Whole upon part of the Capital There are in several Parts of Europe about 30 Banks they vary more or less in some part of their Constitution or Management but they are chiefly or three sorts Some are only for Safety and Conveniency others are for the Benefit of the Income only and others both for Safety and Conveniency and likewise for Benefit and Advantage Of the first kind are the Banks of Amsterdam Rotterdam Hamburgh and Stockholm These Banks have no Income no Adventurers or Sharers in their Profits They are only great Chests for the Conveniency of transferring from one Account to another and where Merchants deposite their Money if they think it safer there than in their own Houses In Places of great Traffick such as Amsterdam and Hamburgh all foreign Bills of Exchange and other great Paiments are by Law to be paid in Bank unless both Parties agree it otherwise but if one of the Parties insists the Paiment must be made in Bank else it would be very difficult for great Traders to deal for such vast Sums as they do in both those Places These Banks are under the Care and Conduct of the Magistracy of the Places where they are erected and as they never trade or meddle with any Business there is very little Trouble in their Management two or three of the Magistrates having an Eye upon the Servants and Books of Transfer direct the whole Matter The Banks of Amsterdam and Hamburgh lend some small Sums upon Pawns but the Sum they have liberty to lend is limited and the Profit thereof accrues to the Benefit of the Town which defrayeth the Charge of the Bank and is answerable for all the Money lodg'd therein So that these Banks are safe and secure and serve only to avoid the Trouble of Telling which Conveniency is found of so great Importance for carrying on a great Trade that no considerable Trading-Town can well be without it The Banks of the second kind that are for the Benefit of the Income only are the Banks of Rome the Banks of Bolonia and Milan and the Bank of Paris the Rents constituted on the Town-house of Paris being of the same nature as the Rents of the Banks of Rome and some others in Italy These Banks are made up of a certain number of Men who in time of War or other Exigencies of the State advanced Sums of Money upon Funds granted in perpetuum but redeemable Those concern'd therein content themselves with the Interest else they sell their Stock or part thereof when they have occasion for the Principal But these Banks keep no Cash or ever have any Stock of Money They are under the Management of some few Overseers all equal in Dignity that take care to divide the Revenue to the Proprietors only the Bank of Paris hath the King for a Governour who sometimes disposes of the Incomes at his pleasure or stops part thereof for his own Use These Banks are properly Funds of perpetual Interest transferable and redeemable and sute best with Places of little Traffick where the gathering into one Place a great Mass of Treasure might endanger the Loss of it The third kind of Banks that are both for the Conveniency of the Publick and for the Advantage of the Undertakers are the several Banks of Naples one of the Banks of Bolonia and the Bank of St. George at Genoa These Banks did not only advance Sums of Money upon Funds of perpetual Interest at the time of their Establishment but by their being a safe Depository of Money obtaining a Credit they have been able to lend great Sums upon good Securities Some of these Banks have been prosperous to that degree as to enjoy their Revenue upon their having in Stock only one fourth one third or one half of the Capital And if I am rightly inform'd one of them is so happy that the Proprietors have the Benefit of the full Income without having a Penny of their own in Stock so great and so solid a Credit hath acquired to this Bank the prudent and regular Conduct of its Directors But none of all these Banks ever attempted to trade much less concern'd themselves in Exchanges which of all Trades is the most ticklish and dangerous They arrived at that vast Credit by keeping within Bounds by lending upon undoubted Securities for a short time and at a very low Interest The Bank that hath the Benefit of its full Income without any Capital of their own never exceeded the Rate of 4 per cent their constant Practice is to take but 3 per cent and sometimes upon a Security to their liking and entire Satisfaction they have lent at 1 per cent per annum By such Methods they are not only look'd upon as wise and judicious Managers that do not venture too far upon Uncertainties but by lending at these low Rates they gain the Love of the People and no body grudges them their Cash when they see it us'd more for the Advantage of the Publick than for the private Lucre of the Undertakers The Bank of England is of this mixt kind It is squared both for Conveniency and Safety and also for Benefit and Advantage No Bank in the World ever was so happily constituted no Bank hath so great a Revenue settled upon so good a Fund and so little paid for it Had not its Managers aim'd at greater Gains than their Income there had been no occasion to have call'd in more than the Subscription-Money which was 25 per cent Their first Deputy Governour Mr. M. G. often us'd to say that he would never have call'd in for more had he not design'd some further great Undertaking I cannot tell whether those that have had the governing part since have acted by the same