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lord_n earl_n son_n william_n 39,975 5 8.2172 4 true
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ID Title Author Corrected Date of Publication (TCP Date of Publication) STC Words Pages
A31619 The Constitution of the Office of Land-Credit, declared in a deed by Hugh Chamberlen, Senior ... and others ... ; inrolled in chancery, Anno Dom. 1696. Chamberlen, Hugh. 1696 (1696) Wing C1871; ESTC R8410 26,929 18

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the_o constitution_n of_o the_o ffice_n of_o land-credit_n declare_v in_o a_o deed_n by_o hugh_n chamberlain_n senior_n m._n d._n and_o other_o joint_a undertaker_n and_o manager_n thereof_o enrol_v in_o chancery_n anno_fw-la dom._n 1696._o party_n 1._o to_o all_o to_o who_o these_o present_n shall_v come_v hugh_z chamberlain_n senior_n of_o essex-street_n in_o the_o parish_n of_o st._n clement-dane_n in_o the_o county_n of_o midlesex_n doctor_n in_o physic_n and_o as_o honorary_a manager_n of_o the_o undertake_n herein_o and_o hereby_o mention_v and_o intend_v viz._n the_o right_n honourable_a charles_n earl_n of_o monmouth_n arthur_n earl_n of_o torrington_n henry_n earl_n of_o romney_n charles_n earl_n of_o arran_n of_o the_o kingdom_n of_o ireland_n and_o baron_n of_o weston_n in_o england_n robert_n lord_n viscount_n lisle_n son_n and_o heir_n apparent_a to_o the_o right_n honourable_a philip_n earl_n of_o leicester_n thomas_n lord_n wentworth_n baron_n of_o raby_n almeric_n lord_n de_fw-fr courcy_n baron_n of_o kinsale_n of_o the_o kingdom_n of_o ireland_n hildebrand_n lord_n allington_n baron_n of_o killard_n of_o the_o kingdom_n of_o ireland_n the_o honourable_a peregrin_n bertie_n esquire_n vice_n chamberlain_n to_o his_o majesty_n and_o william_n bridgeman_n esquire_n secretary_n to_o the_o right_n honourable_a the_o lord_n commissioner_n of_o the_o admiralty_n and_o likewise_o as_o undertaker_n and_o fix_a and_o constant_a manager_n of_o the_o say_v herein_o and_o hereby_o mention_v and_o intend_v undertake_v viz._n the_o honourable_a charles_n egerton_n of_o lincoln_n inn_n in_o the_o say_a county_n of_o middlesex_n thomas_n aston_n of_o aston_n in_o the_o county_n palatin_n of_o chester_n john_n weston_n of_o ockham_n in_o the_o county_n of_o surry_n peter_n smith_n of_o the_o parish_n of_o st._n ann_n in_o the_o liberty_n of_o westminster_n in_o the_o say_a county_n of_o middlesex_n oliver_n salusbury_n of_o the_o middle_a temple_n london_n richard_n robinson_n of_o the_o parish_n of_o st._n giles_n in_o the_o field_n in_o the_o say_a county_n of_o middlesex_n esquire_n andrew_n prime_a senior_n of_o london_n merchant_z samuel_n white_a of_o lincoln_n inn_n aforesaid_a gent._n william_n prewett_n of_o the_o parish_n of_o st._n martin_n in_o the_o field_n in_o the_o say_a county_n of_o middlesex_n charles_n nicolas_n eyre_n of_o the_o parish_n of_o st._n james_n in_o the_o liberty_n of_o westminster_n aforesaid_a and_o peter_n chamberlain_n of_o essex-street_n aforesaid_a in_o the_o aforesaid_a parish_n and_o county_n esquire_n send_v greeting_n 2._o preamble_n whereas_o the_o use_n of_o credit_n in_o trade_n and_o deal_v have_v by_o insensible_a degree_n much_o obtain_v especial_o for_o a_o age_n last_o pass_v or_o there_o about_o throughout_o europe_n trade_n and_o most_o of_o the_o civilise_v and_o trading_n part_n of_o the_o world_n to_o the_o very_a great_a benefit_n ease_n and_o convenience_n of_o no_o small_a part_n of_o mankind_n money_n 3._o and_o whereas_o note_n or_o bill_n of_o credit_n have_v by_o experience_n be_v find_v of_o very_o great_a use_n and_o be_v well_o secure_v by_o a_o good_a fund_z be_v proper_o accept_v and_o take_v as_o ready_a money_n and_o be_v preferable_a to_o the_o usual_a money_n in_o many_o and_o equal_a to_o it_o in_o all_o respect_n may_v therefore_o just_o be_v account_v a_o superior_a species_n of_o money_n 4._o motive_n and_o whereas_o the_o say_v hugh_n chamberlain_n for_o above_o thirty_o year_n last_o pass_v have_v take_v into_o serious_a consideration_n the_o nature_n of_o bank_n and_o of_o credit_n in_o general_a and_o the_o necessary_a convenient_a and_o various_a use_n and_o kind_n thereof_o in_o divers_a kingdom_n and_o state_n as_o also_o here_o in_o england_n and_o observe_v the_o great_a utility_n of_o sound_n and_o good_a credit_n and_o the_o deplorable_a and_o many_o mischief_n frequent_o result_v from_o uncertain_a mistake_v personal_a and_o precarious_a credit_n to_o the_o utter_a ruin_n of_o multitude_n and_o sometime_o to_o the_o endanger_n the_o public_a safety_n 5._o and_o further_o consider_v that_o land_n and_o hand_n be_v the_o material_a and_o efficient_a cause_n of_o all_o true_a genuine_a and_o natural_a riches_n riches_n and_o that_o money_n as_o such_o though_o very_o good_a and_o useful_a in_o its_o first_o intendment_n however_o since_o subject_v to_o abuse_n be_v but_o imaginary_a or_o at_o most_o but_o political_a wealth_n wealth_n and_o therefore_o inferior_a to_o natural_a riches_n and_o consequent_o as_o such_o aught_o to_o attend_v the_o service_n of_o land_n and_o trade_n and_o not_o prey_n upon_o both_o the_o lord_n of_o the_o soil_n and_o the_o industrious_a merchant_n by_o that_o corrode_a and_o destructive_a canker_n usury_n 6._o and_o the_o say_v hugh_n chamberlain_n also_o further_o reflect_v that_o credit_n right_o found_v upon_o land_n must_v evident_o be_v more_o secure_a than_o any_o other_o sort_n of_o credit_n secure_a and_o that_o since_o gold_n and_o silver_n be_v not_o of_o the_o product_n of_o this_o kingdom_n product_n they_o may_v by_o foreign_a order_n by_o edict_n of_o prince_n or_o state_n by_o a_o wrong_a balance_n of_o trade_n or_o by_o other_o artifices_fw-la or_o incident_n thereof_o or_o by_o some_o other_o uncommon_a accident_n become_v scarce_o and_o rare_a in_o this_o kingdom_n which_o can_v not_o happen_v but_o to_o the_o very_a great_a damage_n of_o the_o public_a as_o be_v the_o common_a measure_n medium_fw-la pledge_v and_o account_v of_o trade_n pain_n 7._o the_o say_v hugh_n chamberlain_n upon_o these_o and_o other_o such_o reflection_n and_o with_o a_o earnest_a desire_n to_o serve_v his_o native_a country_n in_o so_o great_a and_o general_a a_o good_a apply_v himself_o with_o the_o utmost_a intenseness_n of_o mind_n to_o contrive_v a_o general_a credit_n to_o be_v so_o found_v upon_o land_n as_o to_o give_v it_o the_o great_a safety_n and_o convenience_n that_o in_o its_o own_o nature_n it_o be_v capable_a of_o and_o to_o make_v a_o credit_n that_o shall_v not_o only_o be_v a_o succedaneum_n to_o money_n but_o in_o divers_a respect_n more_o noble_a and_o useful_a and_o indeed_o a_o superior_a species_n endue_v with_o all_o the_o use_v and_o excellence_n of_o metaline_n money_n and_o in_o several_a regard_v exceed_v the_o same_o and_o particular_o herein_o that_o in_o its_o own_o nature_n it_o shall_v be_v local_a without_o the_o restraint_n of_o law_n etc._n 8._o and_o whereas_o the_o say_v hugh_n chamberlain_n at_o divers_a time_n communicate_v these_o his_o conception_n and_o design_n to_o divers_a person_n and_o in_o particular_a to_o the_o lord_n and_o gentleman_n herein_o before_o mention_v in_o order_n to_o mature_a and_o ripen_v such_o his_o thought_n and_o make_v they_o more_o effectual_a for_o the_o common_a avail_v endeavour_n 9_o and_o whereas_o the_o say_v hugh_n chamberlain_n have_v make_v several_a attempt_n and_o essay_n to_o bring_v his_o say_a thought_n and_o intention_n into_o practice_n for_o the_o common_a good_a but_o by_o reason_n of_o the_o great_a and_o many_o difficulty_n that_o general_o accompany_v all_o great_a and_o good_a design_n have_v not_o hitherto_o be_v able_a to_o effect_v the_o same_o but_o yet_o the_o long_a many_o repeat_v and_o unwearied_a attempt_n and_o endeavour_n of_o the_o say_v hugh_n chamberlain_n and_o those_o at_o sundry_a time_n conjoin_v wirh_fw-mi he_o therein_o have_v so_o far_o awaken_v this_o nation_n at_o first_o and_o long_o by_o he_o experience_v to_o be_v whole_o averse_a to_o thought_n of_o this_o sort_n that_o within_o the_o reign_n of_o his_o present_a majesty_n several_a bank_n have_v be_v set_v up_o and_o attempt_v though_o all_o of_o they_o on_o a_o far_o less_o basis_n both_o as_o to_o extent_n and_o benefit_n than_o what_o have_v be_v divers_a time_n offer_v and_o endeavour_v by_o the_o say_v hugh_n chamberlain_n and_o indeed_o all_o the_o say_a bank_n as_o can_v well_o be_v make_v out_o manifest_o owe_v themselves_o to_o the_o model_n frequent_o propose_v and_o attempt_v both_o in_o print_n and_o manuscript_n and_o public_o and_o private_o and_o free_o impart_v by_o he_o to_o all_o that_o think_v fit_a to_o inform_v themselves_o 10._o but_o for_o as_o much_o as_o man_n natural_o embrace_v the_o great_a good_a rather_o than_o the_o less_o as_o soon_o as_o they_o distinguish_v they_o aright_o and_o since_o the_o land_n credit_n propose_v and_o intend_v by_o the_o say_v hugh_n chamberlain_n and_o his_o present_a friend_n associate_n and_o joint_a undertaker_n therein_o can_v be_v demonstrable_o make_v out_o to_o be_v far_o superior_a to_o any_o other_o sort_n of_o credit_n in_o be_v or_o attempt_v in_o the_o world_n and_o since_o divers_a nobleman_n gentleman_n merchant_n and_o other_o have_v be_v so_o far_o sensible_a of_o the_o great_a and_o general_a good_a of_o the_o hereby_o intend_a credit_n of_o its_o great_a extent_n and_o advantage_n to_o trade_n of_o its_o manifest_a tendency_n
etc._n and_o last_o that_o the_o say_v now_o undertaker_n and_o manager_n or_o the_o undertaker_n and_o manager_n at_o any_o time_n hereafter_o for_o the_o time_n be_v may_v at_o any_o time_n hereafter_o by_o advice_n of_o council_n learned_a in_o the_o law_n make_v seal_v and_o execute_v any_o further_a or_o other_o deed_n or_o instrument_n for_o the_o better_a explanation_n or_o execution_n of_o all_o or_o any_o of_o the_o clause_n article_n trust_n and_o power_n in_o and_o by_o this_o present_a constitution_n and_o settlement_n mention_v or_o intend_v in_o witness_v whereof_o the_o say_a undertaker_n and_o manager_n herein_o before_o first_o abovenamed_a have_v hereunto_o set_v their_o hand_n and_o seal_n date_v at_o london_n the_o fifteen_o day_n of_o july_n in_o the_o eight_o year_n of_o the_o reign_n of_o our_o sovereign_a lord_n william_n the_o three_o by_o the_o grace_n of_o god_n king_n of_o england_n scotland_n france_n and_o ireland_n defender_n of_o the_o faith_n etc._n etc._n annoque_fw-la dom._n 1696._o finis_fw-la london_n print_v and_o be_v to_o be_v sell_v by_o t._n sowle_n in_o white-hart-court_n in_o gracious-street_n 1696._o the_o party_n preamble_n benefit_n of_o credit_n to_o trade_n bill_n of_o credit_n superior_n to_o money_n the_o author_n of_o this_o contrivance_n and_o his_o motive_n material_a and_o efficient_a cause_n of_o riches_n money_n be_v but_o polilitical_a not_o real_a wealth_n land_n credit_n more_o secure_a inconvenience_n of_o gold_n and_o silver_n for_o be_v the_o common_a measure_n of_o trade_n where_o they_o be_v not_o the_o native_a product_n end_n and_o motive_n of_o the_o doctor_n pain_n the_o doctor_n communicate_v his_o thought_n etc._n etc._n the_o late_a encouragement_n of_o bank_n by_o this_o nation_n be_v the_o effect_n of_o the_o doctor_n be_v endeavour_n tendency_n and_o benefit_n of_o this_o undertake_n divers_a have_v subscribe_v to_o it_o now_o for_o the_o better_a effect_v this_o matter_n it_o be_v declare_v that_o there_o be_v want_n of_o good_a credit_n good_a credit_n be_v money_n under_o another_o name_n what_o money_n be_v those_o possess_v of_o estate_n in_o fee_n simple_n etc._n etc._n can_v by_o law_n settle_v they_o to_o what_o use_v they_o please_v except_o in_o certain_a case_n property_n sacred_a by_o law_n land_n the_o best_a security_n the_o mother_n of_o all_o wealth_n land_a man_n how_o considerable_a end_n of_o this_o undertake_n what_o it_o offer_v to_o raise_v 100_o year_n credit_n of_o which_o seventy_o to_o the_o proprietor_n viz._n 40._o to_o himself_o manner_n of_o pay_v the_o forty_o year_n value_n and_o the_o remain_v thirty_o year_n value_n to_o the_o joint_a stock_n of_o trade_n profit_n of_o it_o to_o be_v proportionable_o divide_v capital_a to_o remain_v not_o transferable_a but_o with_o the_o estate_n use_v and_o benefit_n of_o the_o joint_a stock_n money_n at_o first_o necessary_a to_o circulate_v the_o credit_n the_o undertaker_n to_o find_v 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may_v be_v safe_o current_a the_o while_n and_o as_o useful_a as_o those_o payable_a at_o a_o short_a term._n the_o security_n of_o these_o bill_n grow_v strong_a yearly_o a_o part_n may_v be_v improve_v to_o a_o great_a value_n than_o the_o whole_a be_v before_o or_o can_v be_v without_o such_o improvement_n and_o a_o term_n thus_o apply_v be_v better_a than_o the_o perpetuity_n not_o so_o apply_v mortgage_n a_o very_a ancient_a sort_n of_o credit_n but_o troublesome_a and_o not_o well_o suit_v to_o general_a occasion_n dead_a pledge_n and_o but_o a_o imperfect_a credit_n interest_n necessary_a upon_o mortgage_n and_o why_o but_o not_o upon_o these_o bill_n and_o why_o this_o undertake_n not_o calculate_v for_o narrow_a or_o sinister_a ends._n the_o noble_a and_o advantageous_a contrivance_n of_o this_o office_n care_v against_o bad_a title_n proprietor_n to_o be_v always_o in_o possession_n of_o their_o land_n thus_o settle_v unless_o two_o year_n in_o arrear_n for_o then_o the_o office_n may_v enter_z and_o hold_v till_o satisfaction_n but_o to_o do_v no_o damage_n nor_o vnder-lett_a but_o rather_o improve_v the_o estate_n and_o restore_v it_o at_o any_o time_n upon_o demand_n and_o payment_n account_v for_o mesne_n profit_v upon_o improvement_n of_o any_o estate_n the_o proprietor_n may_v raise_v more_o credit_n or_o may_v free_v such_o overplus_n from_o the_o engagement_n to_o the_o office_n the_o office_n be_v safe_a thing_n to_o be_v interpret_v in_o favour_n of_o proprietor_n who_o before_o or_o after_o entry_n may_v make_v lease_n not_o hurt_v the_o title_n or_o lessen_v the_o rent_n bill_n so_o contrive_v that_o none_o need_v be_v deceive_v with_o false_a no_o bill_n can_v be_v issue_v without_o a_o due_a fund_z all_o bill_n must_v be_v cancel_v as_o their_o fund_z ceases_z provision_n for_o support_v of_o the_o office_n nature_n of_o the_o management_n of_o the_o joint-stock_n all_o its_o book_n and_o proceed_n may_v be_v inquire_v into_o when_o fair_o desire_v the_o undertake_n consist_v of_o three_o principal_a part_n first_o the_o lord_n visitor_n what_o be_v submit_v to_o their_o care_n quorum_fw-la of_o the_o visitor_n visitor_n power_n and_o manner_n of_o redress_v what_o be_v amiss_o intent_n of_o their_o superintendance_n visitor_n cease_v to_o be_v so_o if_o six_o month_n absent_a his_o place_n how_o supply_v choice_n of_o their_o auditor_n choice_n of_o their_o comptroler_n and_o governor_n of_o trade_n all_o which_o for_o life_n unless_o etc._n etc._n each_o visitor_n one_o vote_n their_o comptroler_n in_o case_n the_o visitor_n neglect_v to_o choose_v they_o comptroler_n employment_n governor_n of_o trade_n choose_v in_o proportion_n by_o the_o visitor_n and_o a_o auditor_n in_o case_n the_o visitor_n neglect_v such_o choice_n chamber_n of_o comptroul_n business_n of_o the_o say_a chamber_n second_o the_o land-proprietors_a they_o choose_v their_o governor_n of_o trade_n a_o auditor_n and_o comptroler_n comptroler_n duty_n land-proprietors_a may_v exchange_v their_o security_n and_o may_v upon_o joint-agreement_n within_o the_o first_o five_o year_n withdraw_v their_o security_n any_o single_a subscriber_n may_v upon_o request_n withdraw_v at_o any_o time_n after_o three_o the_o undertaker_n and_o manager_n choose_v council_n at_o law_n trustee_n for_o estate_n a_o three_o of_o the_o governor_n of_o trade_n a_o auditor_n and_o comptroler_n undertaker_n be_v in_o particular_a to_o make_v due_a provision_n for_o the_o expense_n of_o the_o office_n to_o prevent_v and_o detect_v counterfeit_n bill_n and_o for_o the_o just_a administration_n of_o the_o whole_a this_o branch_n to_o consist_v of_o at_o least_o 11_o and_o at_o most_o 21_o beside_o the_o 10_o herein_o name_v honorary_a manager_n which_o be_v only_a temperary_n how_o many_o transact_v new_a member_n choose_v undertaker_n make_v rule_n and_o order_n and_o choose_v all_o officer_n not_o herein_o limit_v to_o be_v otherwise_o choose_v and_o do_v provide_v and_o defray_v and_o have_v a_o general_a care_n and_o inspection_n the_o credit_n extend_v to_o lease_n and_o house_n and_o on_o what_o term_n as_o to_o lease_n as_o to_o house_n to_o be_v insure_v against_o fire_n provision_n against_o negligence_n or_o damage_n by_o any_o relate_n to_o this_o constitution_n freedom_n reserve_v to_o dr._n chamberlain_n the_o undertaker_n or_o manager_n and_o comptroler_n to_o be_v present_a at_o the_o debate_n of_o any_o of_o the_o several_a chamber_n governor_n of_o trade_n the_o constant_a representative_n of_o the_o proprietor_n yet_o that_o the_o body_n of_o the_o proprietor_n may_v upon_o occasion_n assemble_v or_o be_v assemble_v in_o person_n or_o by_o proxy_n what_o the_o proprietor_n be_v assemble_v may_v do_v their_o memorial_n remit_v to_o the_o judgement_n of_o the_o three_o chamber_n of_o comptrol_n of_o trade_n and_o of_o management_n first_o meet_v of_o the_o land_n subscriber_n their_o second_o meet_v till_o when_o represent_v by_o the_o chamber_n of_o trade_n what_o they_o do_v at_o their_o second_o meet_v how_o the_o branch_n of_o land_n subscriber_n to_o be_v summon_v number_n of_o vote_n in_o the_o chamber_n of_o trade_n their_o quorum_fw-la vote_n in_o the_o chamber_n of_o comptrol_n their_o quorum_fw-la one_o comptroler_n of_o each_o branch_n to_o attest_v every_o bill_n and_o that_o the_o bill_n be_v due_o cancel_v care_v of_o the_o treasury_n treasurer_n duty_n comptroler_n and_o governor_n of_o trade_n belong_v to_o the_o visitor_n or_o subscriber_n be_v to_o fill_v up_o the_o vacancy_n of_o any_o office_n of_o their_o respective_a branch_n place_v of_o pay_v the_o rend_a charge_n and_o the_o time_n when_o the_o first_o payment_n be_v to_o commence_v joint-stock_n be_v to_o defray_v its_o proper_a charge_n and_o expense_n out_o of_o the_o four_o part_n of_o the_o neat_a profit_n salary_n of_o the_o governor_n of_o trade_n contingent_a perquisites_n to_o the_o governor_n of_o trade_n and_o to_o their_o subordinate_a officer_n and_o other_o for_o eminent_a service_n of_o which_o the_o governor_n of_o trade_n be_v to_o judge_v yet_o a_o appeal_n lie_v and_o when_o chamber_n of_o trade_n choose_v their_o own_o officer_n power_n of_o the_o chamber_n of_o trade_n subject_a to_o a_o enquiry_n by_o the_o several_a branch_n and_o chamber_n of_o comptroul_n and_o of_o undertaker_n and_o the_o reason_n why_o against_o exclusive_a ingrossing_n to_o the_o public_a prejudice_n profit_v limit_v in_o case_n of_o engross_a to_o 10_o per_fw-la cent._n in_o some_o case_n and_o to_o 20_o in_o other_o care_v for_o moneyed_a person_n widow_n and_o orphan_n the_o reason_n for_o their_o admission_n the_o time_n for_o the_o joint-stock_n to_o account_n office_n to_o be_v hold_v in_o or_o about_o london_n etc._n etc._n business_n of_o every_o chamber_n to_o be_v therein_o hang_v up_o in_o table_n all_o officer_n for_o life_n except_o etc._n etc._n the_o salary_n to_o go_v out_o of_o the_o profit_n only_o subsistance_n to_o some_o for_o a_o year_n from_o midsummer_n 1696._o how_o payment_n of_o salary_n afterward_o confirmation_n of_o order_n already_o make_v provision_n against_o election_n of_o vnqualified_a person_n for_o auditor_n comptroler_n or_o governor_n of_o trade_n reserve_v for_o far_a deed_n for_o better_a explanation_n etc._n etc._n