Selected quad for the lemma: england_n
Text snippets containing the quad
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A29546
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The freehold estates of England, or, England itself the best fund or security
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Briscoe, John, fl. 1695.
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1695
(1695)
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Wing B4751; ESTC R38642
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2,801
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1
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The Freehold Estates of England or England it self the best Fund or Security AFTER so many Assurances given by some Persons to furnish the Freeholders of England with Money upon the Securities of their Estates one would have thought no Landed-Man in the Kingdom could have remained under any Difficulty to raise Money for supplying his Occasions or to clear off his Incumbrances and that Leases of Ejectment and Sub-poena's in Chancery to foreclose Equities of Redemption would have been out of Date but notwithstanding all that hath been promised we find the Freeholders under as bad if not worse Circumstances than ever The Bank of England who have caused many Advertisements to be inserted in the Gazettes of furnishing the Freeholders with Money at 5 l. per Cent. per Annum not meeting with one Title in an hundred that will please them have turn'd the Current of their Business another way and are setting up Banks in Foreign Countries leaving the poor Freeholders to shift for themselves The Orphans Bank have set out an Order to lend Money upon a Deposite of Gold or Silver and to discount Bills of Exchange at 3 l. per Cent. per Annum but mention not one word of lending Money on Land-Security In fine tho all make use of that pleasing and popular Argument of easing the Freeholders and raising the Value of Land yet not one step hath been taken therein nor must we expect ever will so long as the Management is in private Hands and not by Persons appointed either by the Publick or by the Freeholders themselves but all that hath been said or promised if one may have leave to judg by Mens Actions seems only a Pretence without the least Reality or Purpose to perform the same Now when the Revenue of the Excise the Annual Income settled on the Orphans the Lottery-Tickets the Annuities for Lives and indeed almost any thing that has but the face of a Security altho depending on Contingencies are made use of for Funds whereupon to issue out Bills and have some of them actual Credit for three times more than the real Value It cannot but seem strange to any considering Man that the Freehold Estates of England or rather England it self which all must acknowledg to be the very Basis of those Funds should be disregarded and the issuing out Bills on Land-Security for a far less Sum than the Value should be ridiculed and made a Jest of yet some People have had so little Sense as to pass their Censures on my Proposals to the Parliament for issuing out Bills of Credit on Land-Security and the Bill which was brought in by Mr. Brockman this last Sessions by Order of the Honourable the House of Commons entituled An Act for the Improvement of the Freehold Estates of England and the Encouragement of Trade and which was referr'd to a Committee who made a considerable Progress therein was by some Persons opposed for no other Reason as I could ever hear of but because it would have been prejudicial to their particular Interests I did therefore once design to have printed a Breviate of the said Bill that all Persons might have seen whether the same was reasonable or practicable but upon further Consideration I forbore it finding too many led more by Humour than Reason and that they will not believe any thing possible to be done until they see it effected I shall therefore being encouraged so to do by several Persons of great Worth reduce the same into Practice and to lay the Foundation of a National Bank and probably the greatest Bank in the World so far as it is capable of being done without the Assistance of an Act of Parliament still submitting the same to such Regulations Alterations or Amendments as the great Council of the Kingdom shall in their Wisdom at any time hereafter think needful to make Some perhaps who are desirous to keep the Freeholders Necks still under the Servile Yoke of 6 l. per Cent. per Annum Interest besides other Charges which with the Taxes hath eaten up several of their Estates may make trivial Objections against these my Proposals and demand where will the Money be found to answer the Bills of Credit But I do not think my self obliged to acquaint every impertinent Querist with the Methods I have to propose for raising a Fund of Money It is sufficient I have hitherto born the whole Charge of prosecuting this Business which when accomplished will be so greatly for the Freeholders Advantage and will more than double the Value of their Estates All that I desire of the Freeholders is that they will enable me to do it by subscribing and settling their Estates in Trust upon credible and substantial Persons of their own naming and to choose some from among themselves to put in Practice those Methods I have to lay before them so far forth as they shall appear agreeable to Reason and no farther PROPOSALS for Subscriptions for a National Land-Bank THat Books shall be laid open on Tuesday the 11th of this instant June at the Chambers of Thomas Gooding Serjeant at Law in Field-Court in Grayes-Inn At Philip Neave Esq his Chambers the second Stair-Case of the Paper-Buildings in the Inner Temple At Lawrence Braddon Esq his Chambers Number 4. the second Stair-Case in the new Square at Lincolns-Inn At the House of Robert West Esq the Corner of Buckingham-Court near Scotland-Yard At Mr. John Smith's in Exchange-Alley And at Mr. Humfry Hackshaw's in Lothbury near the Royal Exchange in London Where any Persons by themselves or others may subscribe Lands Tenements or Hereditaments whether Freehold Copy-hold or Lease-hold to what yearly Value they please to be settled upon such Trustees as shall be chosen by the Subscribers for Funds to issue out Bills of Credit upon the Security of such Estates That an Account shall be publish'd in Print every Month of the yearly Value of the Estates subscribed That so soon as 100000 l. per Annum shall be subscribed a List of the Subscribers shall be printed alphabetically with the several yearly Values by them and each of them subscribed and timely Notice given to the several Subscribers to meet together in some publick place within the Cities of London or Westminster to choose by the Majority of Votes such and so many credible Persons as they or the Major Part of them shall think fit to be Trustees of all Estates to be settled on such Trustees in Trust for the aforesaid Purposes That the Subscribers shall at the same time choose by the Majority of Votes such and so many to be Directors or Managers and also one or more Treasurer or Treasurers of the said intended Land-Bank to be continued in their respective Offices for so long time as the Subscribers or Major Part of them shall think fit and no longer That each Subscriber shall have one Vote in the Election of Trustees Managers and Treasurers for each 50 l. per Annum by him or her subscribed That any Person or Persons who shall settle his or their Estate or Estates upon the said Trustees shall at any time after such Settlement of such Estate or Estates have in Money or Bills of Credit to the Value of three fourth parts of his or their Estate or Estates so settled he or they paying to the said Directors or Managers Two Pence per Cent. per Diem being 3 l. 0 s. 10 d. per Cent. per Annum for Interest and all other Charges whatsoever and no more and may also repay to the said Directors or Managers all or any part of the same at any time or times whensoever and as it shall best sute with his or their Conveniency to repay the same but no Man's Estate is to stand or be engaged for any other or greater Sum than what he himself shall actually receive and be indebted for The Proposer doubts not but he shall be able to reduce the Interest which the Freeholder is to pay to less than 3 l. per Cent. per Annum as will appear by the Conditions in the Subscription Books to which all Persons for farther Satisfaction are referr'd JOHN BRISCOE