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B03462 Good advice to the creditors of the bankers in general, and particularly to those concerned with Sir Robert Vyner, who have not yet subscribed to his proposals. / By some of his creditors that have already subscribed them. 1681 (1681) Wing G1033; ESTC R177512 7,045 16

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although he hath not since the stop of the Exchequer received One Hundred and Ten Thousand Pounds so as its evident he hath paid Ninety Thousand Pounds more then he received for Interest for a great part of which he paid Extraordinary Interest that his Creditors might be supplyed and it 's in vain to say we did not know Sir Robert lent it to the King for we knew it as well as he and he told it to all that asked him And what other way could he or any Man living raise such vast Sums of Interest as he hath done it being computed by those that know it that Sr. Robert hath paid divers Hundred Thousand pounds for ●nterest of Money and we know that those that pretended lately to great credit and able to pay Interest by Merchandizing only are fallen to a very low ebb and like to pay little or nothing at last 6. We also reflected on the low esteem we had of this Debt for which most of us would have taken all the principal by Assignments on the Excise if we could have had the Interest paid us and it s well known that the whole Debt Principal and Interest was by divers persons sold for Forty per Cent. if not under within these Three Months past and this propose of paying Twenty per Cent. and all Interest will amount to very near that Summe in Money besides the Eighty per Cent. per Assignments so that the account of this Debt is this that from that unlucky stop of the Exchequer every one will have for his Interest Money Sixty per Cent and of his principal Twenty which is Eighty in good money and Eighty more by Assignments on a good real security which is One Hundred and Sixty Pounds in all for every Hundred pound now remaining due which cannot be called a bad Debt and are sure it s that we never expected this also convinced us and many of you too that confess its a fair offer and shews an honest intent yet do not do your part to fix it whilst you may have it 7. The proposal made us is a Real thing it s no Chimera nor Fiction but such an Estate that hath present Purchasers enough and might be turned into good Money by the next Term if you will do your part in subscribing speedily for this vacation is the most fit time for the Trustees to agree and contract for the Sale of the Lands and Houses prepare the Writings and have nothing left to do at the Term but to Seal the Deeds recieve the Money and Pay it to the Creditors and all before the end of that Term for although the propose mentions a Year from the subscription there will not need half that time to do it in and we have no cause to fear Sr. Roberts Real Intention having actually setled it already in the Trustees and his desire of doing it doth the more appear in parting with his Beloved Swakeleys together with the rest of his Lands and Houses and for the Trustees they are known to all men of business to be not only of the most worthy and able Citizens but such also as are as fit to be trusted and are as often trusted with as great concerns as any in London so without any exception men that want no such imployments but of kindness to Sr. Robert and his Creditors are willing to undergoe so great a trouble if they find the Creditors consent in it else not so that we concieve nothing can possibly hinder the doing it and quickly too if your needless and unreasonable delays do not do it standing shall I shall I and inquiring if the rest have done it yet and others ask if you have done it and so time passes and men dye as daily experience shews whilst you delay as though you had all a mind to be last in subscribing though first in recieving when your resolving and doing it is absolutely necessary to your advantage Wee also considered some Objections we met withall one was that 8. Some of you are intrusted for the Orphans of your dead Friends so are some of us and yet do not doubt to Justifie our actings therein both to God and Man having done it as cordially and carefully for them as if it were our own concern and our all and much better then if in such a case we should loose or hazard all like some over cautious Executors we have known in a like case that have lost the Orphans estate rather than do a prudent and necessary thing to save a part of it and most of those Orphans at least the poorest of them are usually left to th● 〈…〉 Rich and Charitable Relations with the Parents hopes of great kindness 〈◊〉 them and thereby the Orphans dependance is such that will oblige them at full age easily to confirm what their carefull Trustees have acted for their good and surely if an Orphan when of full age should be so ungratefull as some fear the High Court of Chancery will indempnify him for doing any prudent act for the good of the Orphan And to clear that matter beyond all doubt the Right Honorable the Earl of Nottingham Lord High Chancellor of England hath made a decree in this very case since the last Term and hath thereby inabled a Trustee for Orphans to subscribe these proposals made by Sir Robert Vyner so that now we hope that block is totally removed and that we shall never hear that scruple made any more 9. We did also seriously consider another Objection we met with that Sir Robert did not intend to pay the growing Interest he recieves from the Excise to the Subscribers but let it run on till the Lands were sold and pay all that way in which he hath satisfied us fully having promist to pay it as usually and as fast as it comes in and also that he doth not desire to have up the Creditors old Bonds before they take Assignments for the Eighty pound and new Bonds for the Twenty and all Interest which is not to be done till the Trustees act therein and if they do not act your Subscriptions hurt you not but are void by the proposal it self 10. We have also considered the common and no doubt ignorant Objection that his Majesties grant may be taken away and made void at his pleasure we are satisfied to the contrary by all that hath been said by the most Learned of the Law and not only by what they have said but more by what they have done themselves who with the first took Assignments thereon and for very great summs which no doubt did also incourage that great number of about Fifteen Hundred Noble-men and Gentlemen Citizens and persons of all ranks high and low to take Assignments on the Excise which hath made it much stronger and surer then when it remained in so few hands as the first lenders were and if those which yet stand out will joyn their Interest to it also though their particular Debt