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A48159 A letter to a friend, concerning a late pamphlet, entituled, AngliƦ tutamen, or, The safety of England being an account of the banks, lotteries, mines, divings, drawings, liftings, 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 thereupon, of great import to all sorts of people. 1696 (1696) Wing L1638A; ESTC R10118 7,575 15

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A LETTER TO A FRIEND Concerning a late PAMPHLET Entituled Angliae Tutamen or The Safety of England being an Account of the Banks Lotteries Mines Divings Drawings Liftings 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 thereupon of great Import to all sorts of People LONDON Printed in the Year MDCXCVI A LETTER to a FRIEND c. SIR IN Obedience to your Commands I shall give you my thoughts of the Pamphlet which you lately put into my hands It bears upon the Front of the Title Page two great and very significant Latin Words viz. Angliae Tutamen which look like a Fiocco or Ornament to the long train of pernicious Projects or Reflections which follow Had the Author thought fit to have added a Decus to his Tutamen which for ought I can find he might as well have done the Piece might have pass'd currant among us without any further examination but since we have a liberty of inspection we shall consider it with as great Impartiality as he tells us he himself writ it In the prosecution of his laudable design the Author runs through several Improvements which he is pleas'd to call Pernicious Projects to the Destruction of Trade and Commerce and the Impoverishing this Realm with Reflections thereupon of great import to all sorts of People And hath given us a long beadroll of particular Projects no less than Sixty five in Number with Et cetera's to many of them Had not the Gentleman forgot the Project of Sawing-Mills it would not only have made the score even but have also produc'd the fatal and ominous Number of Sixty six and have given for ought I know as great an indication of their ruin and downfal as his own prognostication upon them especially since we are informed formed by the Learned that those two Figures do in a great measure help to make up the number of the Beast and foretells the fall of Antichrist Now the Author seems to have Dived so deeply into all these pernicious Projects that no mystery in them can lye unfathom'd by him and since these his Discoveries are like to be of so National a good and use to us methinks for his own skill in it he might have spared his Reflections upon the Art or Project of Diving But however if that and the rest be so destructive of Trade and Commerce as he tells us they are then certainly they are all very naughty things Having met then in the very Frontespiece such terrible words as Pernicious Destruction and Impoverishment I was almost afraid to venture any farther but hoping his Reflections would save us all at last I took courage and proceeded In his Preamble he gives us a scheme or rather an aim how to advance Honesty which is a very good design for he tells us It is now in the declension and Cozening and Cheating in the ascendant with Negotiators minding them that Honesty is the best Policy the want of which renders these unlucky Negotiators both Knaves and Fools a hard sentence indeed But I cannot find by any methods proposed in any part of his Treatise how he will regulate these or help us and then as to the Cheatée it may seem much the same thing to be Cheated in a Bank or Project or in a Shop or Warehouse and this mischievous Dilemma will probably reduce his whole design into Theory and Speculation without the help of one practical receipt to save us His first attack is upon the Bank of England but he immediately tells us That being as he says strongly fortified and entrench'd he does not think fit to plant his whole Artillery against it however he must have a sting at it he views it looks hard upon it prognosticates its downfal and letting flie a random-shot or two charged with Monopolies he marches off He tells us indeed that the Bank being Masters of so much Money they may or do or will Buy up our Commodities which he calls Monopolizing and that is Invading our Properties had he said Transferring our Properties as the Sellers generally do to the Bayers he had told us a certain truth but no manner of secret no nor offence neither that I know of supposing this were true of the Bank at least such as must impoverish the Nation and destroy us except they dealt in Eatables only and then indeed they might Starve us too which would be a very sad thing But surely it is not such a devouring Cormorant Bank as not to suffer honest folks to Eat and Drink within two or three hundred Miles of them Where then lies the great Destruction and Impoverishment of the Realm in Buying up Commodities since it seems they are such as will be sold again and will be dispers'd and circulate through as many hands as want them and are willing and able to Buy them Do not all Companies and Societies and even private Merchants too practice the same thing according to their Abilities and Judgments where they think a good Ba●gain may be had And do they not all run the same risk of Gain or Profit according to many circumstances and accidents in Trade which may and often do happen Is it not reasonable there should be a latitude as well as a reward for Ingenuity and Industry Is not Industry the vegetative or growing life and soul of Trade Or would this Author propose that all Traders should be Animals equally alike Now for my own part though I am no Diver into mysteries yet I am of Opinion that among other things nothing does more advance and promote an Inland Trade than a quick vend of our Manufactures from the Manufacterors and nothing does this more effectually than a Bank that is willing and able to take them off and with our Author's permission I am very well assured that there are some Counties as well as great Towns and Cities which depend chiefly upon Manufacture and which for some years have been in a deplorable condition their poor Weavers Starving and Merchants Breaking many of these I say have had a greater Trade and brisker vend for their Commodities since the Establishment of this Bank of England than for many years before whether the Bank be the cause of this great good I neither know nor is it my business at present to enquire I am only to give my thoughts concerning this Pamphlet as far as it gives me occasion but of this I think my self pretty sure that an increase and growth in Trade seems very opposite to the ruin and destruction of Trade And after all the jealousies and fears and cries against the Bank for Monopolizing which I have hitherto supposed and discoursed upon it as if it had been true yet our Author must needs have known that the same Powers which created the Bank and made the Members of it a Body Incorporated under the name of the Bank of England did also set