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ID	Title	Author	Corrected Date of Publication (TCP Date of Publication)	STC	Words	Pages
A53041	Londons improvement and the builder's security asserted, by the apparent advantages that will attend their easie charge, in raising such a joint-stock, as may assure a re-building of those houses, which shall hereafter be destroyed by the casualties of fire as it was presented on New-Years-Day last, 1679, to the Right Honourable, Sir Robert Clayton, Kt., the present Lord-Mayor.	A. N.; Newbold, A.	1680 (1680)	Wing N846; ESTC R3601	5,238	9

Londons Improvement AND THE Builder's Security ASSERTED BY THE Apparent Advantages that will Attend their Easie Charge in Raising such a Joint-Stock as may Assure a Re-building of those HOUSES which shall hereafter be Destroyed BY THE Casualties of Fire As it was Presented on New-Years-Day last 1679. to the Right Honourable Sir ROBERT CLAYTON Kt. the Present Lord-Mayor Multorum manibus grande Levatur Onus LONDON Printed for the Author by Thomas Milbourn in Jewen-Street 1680. To the Right Honourable Sir Robert Clayton Kt. Lord-Mayor of the CITY of LONDON And to the Right Worshipful The Aldermen and the Worshipful the Common-Council of the said City My Lord and Gentlemen IF this Paper shall presume with too much Confidence to Crowd in it Self amidst the weightyest of Your Affairs and the Discourse therein be found too Weak to make good those Publick Advantages promised in the Title Be pleased in Favour of the Good Intention of the Designer to Receive it as a Well-meant New-Year's-Gift Offered to the Common Good of the City The Design it brings with it Is chiefly for the Improvement of the City-Buildings by proposing a Way for the Raising such a Joint-Stock as may Assure the Re-building of their Casualties happening by Fire The Undertaking seems so Great and Hazardous that a Million of Pounds Sterling may be expected with it to make it Practicable to the Satisfaction of the several Interessed This pretends not to be Accompanyed with such a Bank and yet in Prospect it may equally Answer the Expectation of those that may be Concerned and the Purchase thereof may be at a much Easier Rate than can Rationally be Contracted for with any Bank in the World It cannot better be Compared than to that in Practice amongst the Gentlemen of His Majesty's Life-Guard who at this Day by a Mutual Agreement Contribute towards the Buying of Horses for their Fellow-Soldiers which either Dye or become Vnserviceable whereby the Rider is again speedily Mounted at the Common Charge to which perhaps his Peculiar Stock could not easily Arrive It is now designed that the Houses which shall he Burnt down may proportionably with as much Ease to the Proprietors be Rebuilt amongst themselves as those Horses are Bought at the small Charge of the Riders Should Your Lordship with the Right Worshipful the Aldermen and Common-Council upon the Perusal approve the Design to be for a Publick Good I shall not doubt of Your Zeal in Promoting it that it may be made to appear the same in Practice as it is Presented in the Proposals Only let me beg That if it falls short of the End that it promises That You would be pleased to Pardon the Presumption of Him who out of a Tender Affection to his Country and the Place of his Nativity with all humble Submission Dedicates this Offering to the Greater Wisdom of Your Lordship And with all Reverence and Respect Subscribes himself My Lord Your Lordships most Humble Servant A. N. Londons Improvement AND THE Builders Security c. THE several Fruitless Attempts that have been made in projecting a Design for Assuring the Building of Houses Burnt down may be some Discouragement to offer more on that Subject But This being well Approved of by many to carry nothing with It but the Common and Publick Good after some Years lying by is at their Importunity now exposed to a more General Censure And that the Design may appear to be Rationally Practicable and Beneficial for the Publick Good it will be necessary First To consider the Original of Assurances amongst Merchants Upon Enquiry whereof it will be found that the Losses and Impoverishment which have attended many by great Adventures in one Bottom was undoubtedly the Cause that first Introduced those Assurances And by that Means there was a Mutual Agreement on a Praemio or Consideration That a Loss might be made Good and divided amongst Many which otherwayes might have fallen to a Particular Person or some few Persons to his or their great Detriment and Ruin This Laudable Custom of Assurances hath by Experience been found so necessary for the Support of Traders that it hath been continued for many Ages and is in Practice in most Parts of the World at this Day The Demolishment by Fire of the City-Buildings may be of like Detriment and Impoverishment to those Proprietors This Fate being so Epidemical to them that none knows how soon his Estate in those Buildings may be buryed in its own Ashes Reason and Experience which hath introduced and continued the Custom of Assurances amongst Merchants will direct the like Security to be admitted of for Re-building and Repairing the Casualties of Houses by Fire to those Proprietors and Inhabitants both being Adventurers at a Hazard though in a different kind and Element And though the late New-Brick-Buildings in the City of London are Reasonably well Defended by their Thick Party-Walls yet by sad Experience we find each particular Man's Interest in those Inclosures is by the Effects of a small Spark misplaced still lyable to be carryed away with a Flame And when such an Accident of Fire shall happen to lay Level the Subsistance and In-come of the Inhabitant or Proprietor who is not in a Capacity to Re-build those Casual●●● those Candle-Rents to such are little better than for ever Extinguished Former Ages have felt the Strokes of this Formidable Enemy We of late Years have seen a great part of our City laid in Ashes by its Furious Rage And who though the last Burnt down can be so secured as not to be the next Demolished by Fire This is our general Hazard and Grievance And yet At what a Cheap Rate might the Builders and Proprietors give themselves Ease in a great Measure by counterballancing these Inconveniences If we take an Account of the Houses in the City of London they will be found so Considerable in Number and Value that an Advance of Five Pounds per Cent. though but of one Third Part of the Proprietors of the late New Brick-Buildings in Proportion to the Value of those Houses would raise a sufficient Joint-Stock to assure a Rebuilding of every Casualty of Fire which may happen amongst them A Prospect of some things Considerable which will accompany the Design to the Benefit of the Proprietors and the general Good of the City are hereunto added and left to the Consideration of such as may be concerned in it First That which will make the Design practicable at an easie Rate and Charge must be the mutual Agreement of a considerable Part of the Inhabitants and Proprietors to become Adventurers in raising the Joint-Stock for discharge of the Undertaking Many Hands Contributing lightens the Loss and gives Ease in the Charge of the Re-building and Repairing Upon a Moderate Calculation of the City New-Brick-Buildings and their late Years Casualties by Fire if but one Third Part of those Inhabitants and Proprietors should make their Subscriptions of Five per Cent. according to the Value of

their Houses or Charge of Rebuilding a Joint-Stock of Fifty Thousand Pounds might be raised amongst themselves for carrying on this Design We will believe there are not less than Twelve Thousand Houses of the late New Brick-Buildings in the City of London These one with the other may be Esteemed in their Value or Charge of Re-building at Two Hundred and Fifty Pounds per House which at Five Pounds per Cent. will be Twelve Pounds Ten Shillings on each House So that Four Thousand Houses the Third Part of those Buildings at Twelve Pounds Ten Shillings per House will amount to Fifty Thousand Pounds But should Subscriptions be made only of Two Pounds per Cent. for the whole Number of those Twelve Thousand Houses in proportion to their said Value a Joint-Stock of Threescore Thousand Pounds might be raised amongst themselves for discharge of the Undertaking And in probability such a Stock with the Improvement might for ever perpetuate the Re-building of all the Casualties by Fire happening to those Adventurers And as it may be employed in few Years they may receive Dividents out of the Improvement So that a perpetuated Assurance for a Re-building c. to be made by a Joint-Stock raised in proportion to the Value of the Houses will be found to be more Advantagious and purchased at a much easier Charge or Praemio to the Adventurers than should such an Assurance be undertaken but for One Years time by a private Hand Secondly This Joint-Stock thus to be raised for discharge of this Undertaking will cause a Mutual Participation of Rejoycing one with another in their Preservation and will be a Comfortable Relief and a Secured Reparation in case of Future Demolishments And undoubtedly this Security as it will be an easie Purchase so it will be more Safe and Satisfactory and more Acceptable to them than should any other Assurance be attempted to be set on Foot by a private Hand and tending to a private Profit Thirdly This Assurance will be Purchased at an Easie Rate for the Security and Relief of the Widow Orphan Aged past their Labour and such others not in a Capacity of Re-building whose whole Maintenance may depend on a Hazardous In-come by a small Rent of Houses Nor can this easy Charge of Re-building c. be otherwayes than welcome to those in a better Condition than the Former These as they have a greater Concern in Buildings have a greater Value hazardous to Demolishment and are not more exempted from this Fate than the others Nor can any such Interessed assure himself that he shall not be the First that may have Cause to wish for this Publick Reparation Fourthly That as the Adventurers do in one proportion Contribute towards raising this Joint-Stock and each Building is equally lyable to Fire none knowing which shall be the First or Last that may be Burnt down or how often the Casualty of Fire may be repeated to one and the same Fabrick So whil'st any of the said intended Joint-Stock shall remain unexhausted the Re-building and Repairing must be as often repeated out of the same And these multiplyed Reparations and perpetuated Advantages upon one Consideration or Praemio cannot be parallel'd on any other Method of Assurances than this by a Joint-Stock Fifthly By this Assurance of Re-building c. the Brick-Buildings in this City would in a great Measure be acquitted of their Name of Candle-Rents Those Houses would be esteemed a good Settlement on Marriage for the Provision of Wives and Children And likewise may be offered as a good Security for the Supply of the Occasions of the Interessed Sixthly The Inhabitant or Tenant by this Assurance made to him will undoubtedly enjoy his Habitation either the Former or Latter Re-built For the Term of Years he may be concerned in it he will in a great Measure be secured from his Covenants of Reparations And in a short time after every such Accident of Fire he will be restored again to his House and Trade without which possibly he might never return to Either If the Landlord will not join with the Tenant to perpetuate the Assurance he may be admitted only for his Term of Years when Abatement will be made him proportionable for the time to his Satisfaction c. Nor can such Inhabitant or Tenant who shall neglect to make his own Security reasonably propose that any other Assurance which may be made with this intended Joint-Stock shall give him Ease in his Covenants with his Landlord for such Reparation or Re-building in case of Casualty by Fire Seventhly When the Inhabitant or Tenant will not be at the Charge of this Assurance for his own Security it will be the Landlord's Interest to do it for himself His Estate will be advanced in the Value from Twelve Years Purchase to Sixteen Years Purchase upon the Sales thereof and will Amount to Four times the Value of the Money which he Disburseth towards raising the Joint-Stock So that the great Security and Improvement to his Estate is purchased at an inconsiderable Hazard either of Money or Casualty If towards the raising of this Joint-Stock he puts in Five Pounds per Cent. on the Charge of Re-building How small is that to the Value of his Estate secured especially when in few Years he may be receiving Part thereof again by Dividents out of the Improvement of the Stock Or What can the Hazard be of any Valuable Devastation amongst those Buildings when we know they are Guarded with so many Thousand Ranks of Party-Brick-Walls And consequently What probably can be his Proportion of the Loss on any Casualty when it is apparent If this Joint-Stock be raised should a House to the Value of One Thousand Pounds be Burnt down Five Shillings per each House on Four Thousand Houses will make good that Loss And so proportionably a greater or lesser Casualty might be Repaired amongst those Adventurers The Covenants with the best of Tenants for Re-building is not of that Security Continuance or Improvement to the Estate as may be promised by an Assurance of this Joint-Stock Eighthly This Design set on foot by this Joint-Stock might be of General Good and Benefit to the whole City and Inhabitants by having in readyness a further Supply of Persons of Skill for managing of Engines Buckets c. And may some otherwayes be Improved for the Publick Good no less for the Relief of the Poor than for the Conveniency of others the Inhabitants of the City Ninethly The Casualties which may happen by Fire amongst the Timber-Houses are in a greater Proportion more Violent and Hazardous and will not on equal Terms be admitted into a Joint-Adventure for Assurances with those of the Brick-Buildings though the Method prepared to carry on the Design for the Re-building of Brick-Houses with small Alteration may be made Practicable as well for the Benefit of the Interessed in Timber-Houses as of all other Cities and Places in the World Numerous and Eminent for Buildings Tenthly The Management of the said intended Joint-Stock and the Imployment with the Improvement thereof will be solely at the Directions and for the Use and Benefit of such the Proprietors and Inhabitants who shall be Adventurers in raising the said Stock they undoubtedly will be most diligent to consult their own Interest and Security as we find it in the Adventurers of the East-India-Company Guinney-Company and other Corporations The great Care of the Adventurers will be in their Choise of Persons of Honesty and Ability who may faithfully discharge their Trust in managing their Stock whereby it may be best secured and imployed for Discharge of that Undertaking it is raised for The Design may be set on Foot by his Majesty's Gracious Letters Patents for Erecting a Corporation And undoubtedly in the Managing must discover those Advantages which at this distance cannot be fore-seen The Method to make the Design Practicable will be produced when the Proprietors and and Inhabitants of the Houses shall be prepared for raising the Stock or that it may be any wayes Useful for a Publick Good If it should be asked Where this Joint-Stock shall be Lodged or How it shall be Imployed and Improved It is Answered It will be at the Disposal of the Corporation which probably by them may be fixed in the Chamber of London an Undoubted Security or may be otherwayes disposed of at their Discretion FINIS