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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

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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