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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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of which I shall treat in their proper Place Alas the great Dividends the Bank has already made and is preparing to make and the hopeful and prosperous Condition to use their own Words their Affairs are in speak plainly and tell all the World in honest English that one Part of the Nation preys upon t'other the mighty Gains that have arisen to them since their Establishment being no less than Twenty per Cent. must be a Loss somewhere for 't is all within our selves and though Banks may very well be compar'd to ravenous Birds yet in this they exceed them the Vultures themselves not preying upon each other We are all of one Nation and if we could extract Profits from Foreigners 't would do well but from one another enriches not the Publick one jot for Native Wealth though fairly sprinkled among the Individuals and great in the whole can never render a Kingdom or State so Considerable at home and formidable abroad as Domestick Riches augmented and improv'd by Foreign Commerce though 't is not Importation but Exportation inriches a Nation 't is not what is consumed among our selves nor are Extravagants of such Advantage to a Commonwealth as some weak People think and affirm I say 't is not what we eat drink or wear or use otherways at home either of our own or Foreign Produce that is beneficial to us but the sending abroad vast Quantities of home-made Cloths Stuffs Serges Worsteds Camblets Silks Brocades Linens of various sorts Stockins of Silk Worsted Yarn and Cotton Gloves of the same Caps Hats Shooes Boots Saddles Bridles and in a word all sort of English Manufactures and bringing in the Produce of other Countries in part or Bullion or Coin or good Debts remaining 't is this that turns to the best Accompt therefore the West is much better for us than the East-India Trade one wonderfully inriches t'other mightily impoverishes us The first by Employing thousands of Poor and making Multitudes of Rich much Wealthier the t'other by draining us of what we want most viz. Gold and Silver which they send thither to a vast value which in time must make the East-Indies the richest Spot in the World very little or none of our Manufactures go thither And what have we in return for our Bullion and Coin but what we want not but may very well be without 'T is only what gratifies the Pride Folly and Luxury of the Age which is always fondest of what is dearest and is fetch'd farthest valuing things according to the Price and Vogue not Use and Service Besides those Voiages murder our Sea-men our chiefest Strength hardly one in five returning alive or at least not found nor can all the Benefits which we are told arise by that Commerce atone for the Damage we visibly sustain by it 't is apparently the Interest of the Indian Princes to encourage and court us to Trade with them because we fetch their numberless Manufactures painted Toies and brittle Earth and pay our vital Blood for 'em our Lives our Gold and Silver But one word more to the Bank of England before I make an end of that Head Since their Establishment there has been a sensible Decay and Declension of our Inland Trade known to the greatest Part of the Nation and may be attested by an Army of Witnesses many of them to their Sorrow in the Temple Alsatia and the Mint And thus much may be said without consulting any Oracle if we get happily out of this War they will not be long liv'd I mean hardly ever renew their Leases never more be confirm'd by Parliament but the State-Debt paid in and they dissolv'd They hoard up all the good and pay out the bad Money they cause the Rise and Fall of Moneys at their Pleasure which occasions Difficulty and Incertainty in Trade And this is so well known that 't is past all Contest or Contradiction And now for the National Land-Bank which stands so high in Fame and makes so great a Noise in the World is so Charming and Attractive that Estates to a very great value have been subscrib'd in the several Counties of England and Wales in a very short space in much less time than was expected besides vast Summs of Money a Committee and Trustees being chosen a Deed agreed on and settled a Company form'd Directors appointed Officers elected and all Things dispos'd to put this wonderful Project in Execution to raise Lands to thirty Years Purchase by reducing Money to three per Cent. the Profits to be divided amongst the Subscribers These Offers are plausible and specious varnish'd and gilded over baited with mighty Hopes of prodigious Gains to all that shall be concern'd to some no doubt there will be viz. to the Projectors Managers and Officers but it is such a Hotch-Potch and Medley such a Body made up of such strange Members subtil politick and designing Men that all pretend the Good of the Re-publick only when that of the Re-private is chiefly intended The first is proclaim'd to tickle and draw in the Easie and the Credulous but the last design'd from the very beginning for never did Projector yet aim at any thing so much as his own particular Profit and Interest though they always pretend the contrary The fair Face and Outside this Bank carries wins abundance to the Belief of its Design to be Good but a little time will shew the naked Truth the Juggle and Imposture will appear and the Bank fall to the ruine of many who will be involv'd and confounded in the Intricacy and Difficulty thereof the secret and under-hand Intrigues carried on to cajole and wheedle some to Subscribe to encourage others large Promises made of greater than common Profits to such some Men of Quality others of Business all of Eminency prevail'd upon to Countenance the Project to give Life and Reputation to it These Contrivances I say to mention no more give sufficient Cause of Jealousie and Suspicion if there were nothing else at the bottom but the Snake lies close and in its due time will stir hiss bite and sting the greatest Part concern'd The Injuries this as well as other Banks will inevitably bring upon the Home-Trade of this Kingdom and Foreign Commerce too are so plain and so obvious that 't would be but time lost to say any thing more upon that Head All this and more poor England will find too true and I fear too late Each petty Negotiator feels it already in his Business and in his Credit and is sensible 't will encrease upon him more and more each Day he lives and the more Banks are establish'd the more Damage will Commerce receive in every Branch of it What I have said and shall offer further in the following Pages proceeds from no other Sentiments than what arise from the Love of my Native Country whose Prosperity I wish more Passionately than my own and for whose Sake and Interest I now draw my Pen being wholly unconcern'd in Trade