Selected quad for the lemma: city_n

Word A Word B Word C Word D Occurrence Frequency Band MI MI Band Prominent
city_n citizen_n london_n mayor_n 9,097 5 11.2140 5 false
View all documents for the selected quad

Text snippets containing the quad

ID Title Author Corrected Date of Publication (TCP Date of Publication) STC Words Pages
A51629 Corporation-credit, or, A bank of credit made currant, by common consent in London More useful and safe than money. Murray, Robert, 1635-1725? 1682 (1682) Wing M3116; ESTC R218165 3,094 7

There is 1 snippet containing the selected quad. | View lemmatised text

Corporation-Credit OR A BANK of CREDIT made Currant by Common Consent in LONDON More Vseful and Safe than Money London Printed by John Gain for the Office Anno M.DC.LXXXII Corporation-Credit OR A Bank of Credit made Currant c. VVHereas the Right Honourable the Lord Mayor Aldermen and Commons in Common Council Assembled did refer the Consideration and Examination of the State of the Chamber of London unto a select Committee of Aldermen and Commons giving them power to receive all such Propositions as should be made by any Persons for the Improvement of the Revenue of the Chamber And whereas in pursuance thereof the said Committee did take into their Consideration certain Proposals which were made for the Erecting of a Bank of Credit which might be made Currant by Common Consent in London and serve in many Cases to supply the want of present Money for the better Maintenance and Increase of Trade and be a good meanes also to secure Traders from those hazards which common Experience tells us do ordinarily befall unwary people when they give Credit to Insolvent Persons as well as it may serve to improve the Revenue of the Chamber if the same were reduced into Practice All which being well weighed seriously considered and duly examined by the said Committee on the Behalf of the City they did agree That the said Proposals should be reduced into Practice and Execution by the Proposers so as the Books of Accompts Books of Register the Iournals and other Books relating to the said Bank of Credit be duly and orderly kept and Ballanced that they may be made subject at all times to the Care and Inspection of the Common Council or of any two or more of such Persons as shall be from time to time by them appointed thereunto And that all Clarks Accomptants Deputies Agents Officers and Servants that shall be employed for the reducing of the said Proposals into Practice give good Security for the faithful Discharge of their Respective Places And further That no Reward or Summe of Money be given or taken but that the Person giving or taking any Summe of Money for any Office in that Bank of Credit shall be for ever disabled to manage or put in Practice any of the said Proposals All which being mutually agreed unto by and between the said Committee and the Proposers It pleased the Right Honorable the Lord Mayor and Court of Aldermen after several Debates concerning the Premises among themselves to conclude and agree that the said Proposals be put into Practice by such Trustees as should be thereunto Commissionated and appointed ●oithin the City of London and Liberties thereof for the Benefit of the Chamber and the furtherance of Trade there In Testimony whereof they have cau●ed the Common Seal of the Lord Mayor Commonalty and Citizens of London to be affixed unto a certain Writing containing the said Pro●osals and other Articles Bearing Date at Guild-Hall the 29th day of August in the 34th Year of the Reign of our Soveraign Lord Charles the Second by the Grace of God of England Scotland France and Ireland King Defender of the Faith And in the Year of Christ 1682. NOw for the reducing the said Propositions into Practice divers Noblemen and other Persons of Honour and Interest many Considerable and Wealthy Citizens and Inhabitants of London as well Merchants as others although they stand not in need of Money or Credit from the Bank yet they knowing well that no mans Credit ought to be larger than his Estate And that it will be as necessary to have a Common Measure or Standard in the Bank of Credit for the Tryal of Credit as it is to have Weights and Measures of Standard Assize kept in every Ware-house or Shop for the measuring and weighing of Goods and the Preservation of Commutative Justice between Man and Man And having further considered also that the Summe of Money they or any man else have Subscribed or do intend to Subscribe as his and their Proportion of Credit in the Bank is and will be within his and their own Power and at his and their own Pleasure at all times hereafter to increase or diminish alter and transfer as he or they shall think fit according to Emergency of Trade as much as it is in the Power and Pleasure of any Man to increase or diminish the number of Weights and Measures in his own Ware-house or Shop And they having further considered that although by this meanes any man may know the Currency of another mans Credit yet no man can discover thereby the Ballance of another mans Estate Therefore they have been pleased in the first place to Subscribe several Summs of Money which they will cause to be brought in as a Fund or Foundation of Honour either in English Tin or Lead Copper Steel or Iron Raw Silk Wool or Cotton or in Brass or Iron Wyre Linnen-Cloth or Callicoes or in some other Goods of sufficient value to raise the Summe of Money by them Subscribed and to cause the same to be brought into the Ware-house belonging to the Bank of Credit on or before the first day of January next ensuing or within one Week next after notice shall be given them of the day when the Bank of Credit shall be open and to continue the same there or some other Goods in their Place of the same or of a greater value for the full Term of one whole Year paying for the use of the said Credit Ware-house Room Salvage and Book-keeping of or upon the said Goods or Wares after the Rate of 6 l. per Cent. per Annum for the first Year Secondly All such Persons as have more Goods than their own Ware-house can contain and all such as desire to have their Goods secured against the danger of Fire and hazard of Thieves may deposit them in the Ware-house of this Bank where they shall have Ware-house-Room if they be not too Bulky and be secured against those Hazards paying only 2 l. per Cent. for Ware-house-Room and Salvage according to the value of the said Goods as they were appraysed when they were taken in But in case any Person comprised under this Article shall desire to make use of Bank-Credit for the said Goods or any part thereof then there shall be paid four per Cent. further for the use of the Bank-Credit by them employed Thirdly All Credible Persons who have more Goods Wares or Merchandizes by them than they have present use or Market for may upon the Fund of them be supplyed from the Bank with Bills of Currant Credit which may be as useful and more safe than Money to serve their Occasions and Emergencies of Trade Fourthly All Persons that have received any Bank-Credit may transfer the same or any part thereof to whom they please And all Persons to whom such Bank-Credit shall be tendred may be well assured at the Bank of the Currancy of that Credit which hath a good Foundation there where it shall from time to time be accepted and taken in discharge of any Debt as well as in the Release of Goods Fifthly If any Subscriber or other Person that hath received more Bank-Credit than he hath occasion for at the present he may be directed at the Bank how to dispose thereof with profit by transferring the same unto others upon valuable Consideration and to have Money for the same if it be required This being the true Constitution of the Bank of Credit it will be the Interest of every man of Credit in his Trade to have his Name and some Interest therein But such as either have no Credit or deserve none because they can deposit no Fund may speak against it and shun the Bank because it is a Touchstone as the Workers in false and counterfeit Metal will shun the Assay and Tryal And although some others who have taken unconscionable Rates for the Loan and Procuration of Money may be angry because they must be content with less Gaines yet will this Bank of Credit be found to be a great benefit unto Trade and recommend it self to the Judgment Approbation and usage of every unbiassed man Advertisement ALL Persons that are desirous to Subscribe may come either to Garro-way's Jonathan's Kemp's or the Amsterdam Coffee-Houses near the Exchange to the Rainbow or to Richard's Coffee-house near Temple-Bar Peter's Coffee-house in Covent-Garden and Man's Coffee-house at Charing-Cross at all which Places Books shall lye ready and Persons attend from Ten to Twelve in the Morning and from Five to Seven in the Evening every Week-day for that Purpose and to answer Objections if there be any made by such as do not understand or are not so well satisfied about the Usefulness and Advantages of the Bank of Credit unto all as the same is set forth in a Printed Paper called Englands Interest On the great Benefit to Trade by Banks or Offices of Credit in London