Selected quad for the lemma: city_n

Word A	Word B	Word C	Word D	Occurrence	Frequency Band	MI	MI Band	Prominent
city_n	day_n	great_a	town_n	4,664	4	6.2812	4	false

Text snippets containing the quad

ID	Title	Author	Corrected Date of Publication (TCP Date of Publication)	STC	Words	Pages
A42905	A short account of the Bank of England	Godfrey, Michael, d. 1695.	1695 (1695)	Wing G925; ESTC R220317	13,535	9

Houses to Mortgage must be allowed to be in no very good condition and must continue to pay as exorbitant Allowances for Money to supply their Necessities as they used to do before the Bank was established What has been observed of Discounting Foreign Bills of Exchange at 3 per cent per annum In-land Bills and Notes for Debts at 4 ½ per cent per an Lending Money on Pawns at 5 per cent per an Exchanging Tallys and lowering Interest of Money it s supposed is sufficient to answer this Objection 'T is alledged by some that the Bank will ingross all manner of Trades But this is an Objection like many others which are made against it by those who do not understand its Constitution for if any Person Trades on Account of the Bank in any other thing than taking Pawns or in Bills of Exchange or Bullion or consents that any other should Trade such Person so Trading or Consenting to such Trade incurs by the Act of Parliament a Forfeiture of Treble the Value of all that is Traded for The Goldsmiths have been guilty of Engrossing most Commodities themselves and they have also been great Merchants and Traders And whereas they pretend that the Bank hath bought up all the Silver upon Enquiry it appears that there hath not been 12000 l. worth bought by the Bank and the greatest part of that was Pieces of Eight and the rest Bars and Piny Silver which came from Spain though some particular Refiners and Goldsmiths have since that Ship'd off more than double that Value in Bars of English Melting and have likewise sold much greater parcels to others which have been Exported And it may be a matter well worth Enquiry where those Mines are which have produc'd that Silver And though it be made such a Crime for the Bank to be concerned in the Publick Remittances it is no more than was done by a Goldsmith before the Bank undertook it nor is it look'd on as a Fault in the Goldsmiths to deal by Exchange seeing some of them do now draw or remit Mony almost every Post And since the Nation has suffered so much by the Goldsmiths Monopolizing Goods and Trading with other Mens Stocks it may seem highly Reasonable That as the Bank is restrain'd from Trade for fear of those mischiefs which the Goldsmiths have practised so the Goldsmiths in like manner should be limited to the Selling Plate and Jewels which was their antient and proper Trade As to the Pretence of the Bank setting a Price upon Guineas and having engrossed the greatest part of all that are in the Nation 't is answer'd The Bank has always received and paid Guineas at a Peny or two Pence a piece at least under the Price which the Goldsmiths have put upon them and has been so far from Buying up any that they have only received such as have been brought them in Payment and have constantly paid them away every Week at the same Price they have received them So that if they make any benefit by the advance of the Price of Guineas 't is chiefly on those which were received at the taking the Subscriptions which cannot come to any such quantity as is pretended And 't is a matter wholly owing to some or all of these Causes 1. To the Goldsmiths who have raised the Price of them Or 2. To the badness of our Silver-Coin which is diminished every day Or 3. To those great quantities which have been exported into Foreign Parts There are others who make a mighty Complaint against the Bank because 2 d. per Day is allowed on Bank-Bills and the Money which was used to be lodged in their hands for nothing and made use of by themselves is now paid into the Bank by the Owners but they it s supposed will not find fault with receiving 2 d. per Day for that Money for which before they had nothing and so one may be set against t'other 'T is pretended the allowing 2 d. per Day hinders some from Purchasing or Lending Money on Mortgages and makes others who are Traders and owe Mony bad Paymasters But it may well be supposed there are none who intend to Purchase or Lend Money on Mortgages who will leave their Money in the Bank at 3 per cent per an when they can have a Purchase to their minds or a good Security at 5 per cent per an and there are few who would not leave their Money lying dead rather than lay it out on the Purchase of an Estate they do not like or lend it on a bad Security And as for its making men bad Paymasters they must consider their Credit or Interest but little who will delay paying their Debts for the getting the 2 d. per day per 100 l. which is allowed on Bank-Bills for in their future Dealings they would pay a much dearer Interest The Money which is lodged in the Bank is only the Mony which can be spar'd and was wont to be left with the Goldsmiths and it 's strange that 3 per cent per an which is allowed on Bank Bills should do all this Mischief and that the great Advantages which have been made by the Publick Funds should never be made an Objection But the plain truth of the matter is that the Goldsmiths are angry at the Banks allowing 2 d. a Day per Cent. because that by this means the Money is drawn out of their hands the faster and paid into the Bank for Bank-Bills And if the allowing 2 d. per Day on Bank Bills be lookt on to be such a Crime it s very probable the concerned in the Bank will be willing in time to remove the Objection seeing it will ease them of the Charge of 36000 l. per an which the Interest amounts to and which they have given the Nation out of their Fund for that Money for which the Owners used to have nothing Notwithstanding all these Objections which are made against the Bank there are some now who in opposition to it talk of nothing less than Setling a New One with 4 d a day per cent Interest which is double as much as is now paid by the Bank nay others are for Setting up a Bank in every City or in every market-Market-Town Which shews after all the Cavils against the Bank that a Bank is good for the Nation in general and that the greatest Objection against the Bank of England is that they who find fault with it are not concerned in it for many of those who Clamour against it do it only in hopes of coming in the Cheaper But the Honour and Iustice of the whole Nation on whose Credit and Authority the Subscribers are Establisht to be the Bank of England for 11 Years is too much concerned to admit a supposal that any such Designs should receive countenance or encouragement For what past in the Last Session of Parliament and their refusing to admit any other Lives to be added to the Annuities lest it should be