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england_n act_n lord_n parliament_n 4,338 5 6.4183 4 true
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A29534 An abstract of the Discourse on the late funds of the Million-act, Lottery-act, and Bank of England Together with proposals for the supplying their Majesties with money on easy terms, exempting the nobility and gentry, &c. from taxes, enlarging their yearly estates, and enriching all the subjects in the kingdom. Humbly offered and submitted to the consideration of the Lords spiritual and temporal, and Commons in Parliament assembled. By J. B.; Discourse on the late funds of the Million-act, Lottery-act, and Bank of England. Abridgments Briscoe, John, fl. 1695.; Briscoe, John, fl. 1695. Discourse on the late funds of the Million-act, Lottery-act, and Bank of England. 1694 (1694) Wing B4738; ESTC R212358 8,190 16

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to_o answer_v all_o such_o demand_n object_n but_o what_o must_v those_o gentleman_n do_v who_o be_v but_o tenant_n for_o life_n they_o can_v reap_v any_o advantage_n by_o this_o act._n answ_n yes_o they_o may_v for_o the_o parliament_n if_o they_o please_v may_v give_v they_o leave_v to_o settle_v such_o their_o estate_n for_o bill_n of_o credit_n to_o be_v issue_v out_o to_o their_o majesty_n upon_o the_o payment_n of_o a_o annuity_n for_o 20_o year_n and_o not_o long_o in_o which_o case_n the_o tenant_n for_o life_n may_v be_v excuse_v from_o the_o land-tax_n of_o 4_o s._n in_o the_o pound_n which_o will_v be_v advantage_n enough_o for_o he_o and_o the_o commissioner_n may_v keep_v in_o their_o hand_n the_o profit_v accrue_v by_o the_o loan_n of_o such_o bill_n of_o credit_n for_o the_o benefit_n of_o he_o who_o have_v the_o fee_n or_o remainder_n by_o which_o mean_v his_o estate_n will_v be_v increase_a every_o year_n more_o and_o more_o till_o he_o come_v into_o the_o possession_n of_o it_o for_o admit_v a_o be_v tenant_n for_o life_n of_o a_o estate_n of_o 1000_o l._n per_fw-la annum_fw-la the_o remainder_n to_o b_o suppose_v a_o settle_v the_o say_a estate_n and_o 20000_o l._n bill_n of_o credit_n be_v issue_v out_o thereupon_o and_o lend_v their_o majesty_n upon_o the_o payment_n of_o 7_o l._n 10_o s._n per_fw-la cent._n per_fw-la annum_fw-la out_o of_o any_o parliamentary_a fund_z for_o 20_o year_n a_o shall_v be_v exempt_v from_o tax_n which_o be_v 200_o l._n per_fw-la annum_fw-la save_v to_o he_o the_o commissioner_n who_o be_v to_o receive_v 1500_o l._n per_fw-la annum_fw-la annuity_n for_o 20_o year_n for_o the_o say_v 20000_o l._n bill_n of_o credit_n will_v pay_v off_o every_o year_n 1000_o l._n per_fw-la annum_fw-la in_o discharge_n of_o the_o principal_a and_o the_o other_o 500_o l._n per_fw-la annum_fw-la they_o may_v reserve_v in_o their_o hand_n for_o b_o so_o that_o if_o a_o live_v 20_o year_n b_o will_v have_v 10000_o l._n due_a to_o he_o from_o the_o commissioner_n which_o be_v half_a the_o value_n of_o his_o estate_n and_o his_o estate_n clear_a and_o though_o some_o may_v think_v it_o unreasonable_a that_o a_o tenant_n for_o life_n shall_v settle_v the_o estate_n of_o he_o who_o have_v the_o fee_n yet_o for_o the_o advantage_n and_o benefit_n of_o such_o person_n who_o have_v the_o remainder_n the_o parliament_n may_v as_o well_o give_v leave_v to_o settle_v such_o estate_n as_o they_o do_v empower_v trustee_n and_o guardian_n to_o advance_v the_o money_n of_o such_o who_o estate_n they_o have_v in_o trust_n upon_o the_o late_a fund_n for_o benefit_n of_o such_o minor_n etc._n etc._n and_o if_o the_o parliament_n think_v fit_a gentleman_n who_o have_v estate_n in_o land_n may_v easy_o and_o that_o in_o a_o few_o year_n raise_v a_o bank_n without_o any_o money_n other_o than_o by_o their_o accrue_a profit_n out_o of_o the_o say_a annuity_n which_o bank_n will_v have_v both_o plenty_n of_o money_n and_o the_o freehold_a estate_n of_o the_o kingdom_n for_o a_o fund_z which_o will_v be_v the_o great_a most_o famous_a and_o most_o glorious_a bank_n that_o be_v or_o ever_o be_v in_o the_o whole_a world_n nor_o will_v any_o nation_n in_o the_o universe_n be_v ever_o able_a to_o cope_v with_o we_o or_o be_v capable_a to_o erect_v the_o like_a i_o think_v it_o not_o amiss_o also_o to_o acquaint_v the_o parliament_n with_o a_o method_n i_o show_v to_o a_o honourable_a member_n of_o the_o honourable_a house_n of_o commons_o about_o six_o month_n ago_o which_o i_o lay_v aside_o as_o not_o be_v near_o so_o desirable_a as_o this_o my_o propose_a method_n which_o because_o some_o person_n seem_v then_o to_o have_v a_o opinion_n of_o i_o shall_v also_o acquaint_v this_o honourable_a house_n with_o the_o same_o viz._n i_o propose_v that_o a_o gentleman_n of_o 150_o l._n per_fw-la annum_fw-la estate_n in_o land_n suppose_v to_o be_v worth_a 3000_o l._n may_v settle_v his_o estate_n and_o that_o 3000_o l._n value_n in_o bill_n of_o credit_n shall_v be_v issue_v out_o thereupon_o that_o their_o majesty_n shall_v have_v 1000_o l._n value_n of_o the_o say_a bill_n and_o that_o the_o person_n who_o settle_v his_o estate_n shall_v have_v 2000_o l._n bill_n and_o for_o the_o discharge_n the_o 3000_o l._n bill_n of_o credit_n he_o shall_v be_v oblige_v to_o pay_v 100_o l._n per_fw-la annum_fw-la for_o 30_o year_n this_o indeed_o will_v have_v clear_v all_o mortgage_a estate_n the_o bill_n of_o credit_n issue_v out_o will_v not_o have_v exceed_v the_o fund_z settle_v for_o security_n of_o they_o and_o a_o gentleman_n will_v have_v sell_v a_o rent-charge_n of_o 100_o l._n per_fw-la annum_fw-la for_o 30_o year_n for_o as_o much_o as_o he_o can_v sell_v the_o fee_n of_o 100_o l._n per_fw-la annum_fw-la several_a other_o advantage_n i_o propose_v by_o the_o say_a method_n but_o all_o thing_n consider_v i_o find_v it_o so_o far_o short_a of_o what_o advantage_n their_o majesty_n and_o the_o nation_n may_v reap_v by_o the_o present_a propose_a method_n that_o i_o total_o decline_v it_o i_o fear_v be_v too_o tedious_a and_o to_o transgress_v the_o limit_n of_o a_o abstract_n but_o such_o of_o the_o member_n of_o the_o lord_n or_o commons_o who_o will_v honour_v my_o treatise_n with_o their_o perusal_n wherein_o what_o i_o have_v herein_o bare_o hint_v at_o be_v more_o full_o handle_v shall_v be_v present_v with_o the_o same_o by_o their_o honour_n most_o humble_a and_o most_o obedient_a servant_n john_n briscoe_n