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A51784 Usury at six per cent. examined, and found unjustly charged by Sir Tho. Culpepper and J.C. with many crimes and oppressions, whereof 'tis altogether innocent wherein is shewed the necessity of retrenching our luxury, and vain consumption of forraign commodities, imported by English money : also the reducing the wages of servants, labourers, by Thomas Manley, Gent. Manley, Thomas, 1628-1690. 1669 (1669) Wing M450; ESTC R20981 53,803 88

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per Cent. of it better than he that borrows can first make 6. l. to pay Interest and then get something over and besides for a lively●ood and so end all disputes about Interest Answ 1. This were very true admitting all men were of ●quall brains and education to traffick in one sort or other ●hich is not reasonable to imagine 2. If every man i●ployed his own stock it would be im●ossible for poor ingenious beginners to borrow to enter up●n trade and how many of those people by help of borrow●●g become in time excellent members in the Common-●ealth is daily seen 3. 'T is much better for the publick that experienced Tra●ers hire money and imploy it than sit still whilest commerce merce is manag'd by the unskilfull which caus'd his Majesty to complain in the preamble of his Proclamation some two years ago concerning the Canary Merchants alleadging th●●● unexperienced men had spoil'd that trade 4. In all Trades there is a great mystery which is not fully apprehended by two in three educated therein how th●● shall we suppose this secret should be found out by then who are forc'd upon trade not by their proper genius but by subduing Usury Lastly There is that vast difference in skill and conduct amongst men that one will easier make 14. per Cent. in traffick than another raise 6. His eighth Proposition examined and answered It onely can saies he rebuild London profitably as to the Builder speedily as to the Publick I Hope 't is an incling and not Prophetick saying invented at first by such who wish the work may not prosper that the rebuilding of London will undo more then the burning thereof has for if serene times succeed I doubt not but the Builders or at least their posterity will be so fully recompenced as well by profit as conveniency security and beauty that by a happy Omen I hope I may invert the jyngle by asserting that in conclusion there may be more gainers by rebuilding of London then there were losers by burning of it The present Interest of money admitting much were borrowed can be no just scar-crow to the Builders since all Builders I have yet converst with being of that number my self may have eight nine or ten per Cent. and very good Rents for their grounds besides As for those who are to build in the worst and by-places they are to build the meanest Houses and so what they fall short in Rent will be sav'd in Building besides 't is not to be doubted but materials and workmen may be much cheaper when the capital parts of the City are rebuilt to the great incouragement of Builders in by-places which are likely to be last built And should I grant that all the new Buildings were carried on by borrowed money I could not deny but Interest at four per Cent. were best for the Builder in case he could speedily borrow at that rate without severe brok●ge or shifts of Interest but he that imploys his own money matters not much whether it be at six or four in regard he knows the work must be done and he shall find benefit and content thereby Yet will not subduing Interest hasten the work but most assuredly hinder as some have confest to me for what ever Builder wants money as I protest I am one shall lose a Summer before he knows where to borrow it without some underhand dealing he shall find it to his cost a contradiction that many Lenders and low Interest live together in a declining Common-wealth So that upon the whole matter it is certain and speedy borrowing without unconscionable brokage which will infallibly attend reduction of Interest that must rebuild London profitably to the Builder and speedily as to the Publick And now for the credit of six per Cent. I will appeal to all the world if the rebuilding of London goes not on much faster then could be reasonably imagin'd by him that shall consider the many discouragements the Builders have laboured under as fears of enemies abroad doubt at home wars and rumours of wars fears and jealousies true or false at present operate a like scarcity of materials dearness of Workmen peevishness of Neighbours grounds and concerns intermixing differences between Land-lords and Tenants and the like many whereof being overcome by the prudence of his Majesty and infinite pains and wisdom of the reverend Judges the work now goes so happily on that by the blessing of the Lord I doubt not to see that City within three or four years the joy of her Friends the envie of her enemies and the beauty of Christendom The ninth Proposition examined and answered It will inviolably establish saies he the Crown of England 1. By advancement of all his Majesties Revenues 2. By the welfare of all his Majesties Subject 3. By making Land which is in safe hands the over ballancing Scale of Wealth and Power AS wise Generals in the day of Battle keep their best Souldiers as a Reserve against the time of greatest need so my Discourser after he has said what wit or skill or passion can suggest insinuates at last that lubduing Interest will establish the Crown upon his Majesties Royal House by raising his Revenues to such a degree that it may be no ways doubted but that his Incomes may far exceed his expences whereby burthens by Taxes on Lands or Persons may cease and with them our discontents exspire A happy age Welcome low Interest more powerful than Militia or standing Armies Hail thou onely inricher of King and People Expeller of Sedition and establisher of Sacred Majesty And now after all this Pageantry what pity it is I must conclude that having examined and found how little likelyhood there is that subduing Interest will increase the fruit and revenue of the Kingdom we have small reason to hope it will augment the Revenue of the King And therefore if we cannot raise his Majesties Incomes above his Exits let us all humbly beg of God and the King that his exits may not exceed his Incomes and that 's the same thing since every man is rich or poor by what he expends and not by what he receives Having provided for the Crown he turns himself to the three great Faculties as he calls them Divines Lawyers and Physitians to convince them how great advantage will accrew to their professions by reducing Usury but because I know they are too wise to be led by an ignis fatuus I shall leave the whole matter to their examination and shall without enlarging on that very odd undue and dividing expressions of Land being in safe hands as if all the world but Landed men were dangerous Creatures onely observe his angry conclusion in case Usury be not taught to dance after his pipe Gaolers and Catchpoles walk Horses and some weight taken out of their scale that their Interest no longer preponderate our servitude saith he must be forsooth almost accomplish'd the meaning whereof I cannot conceive unless besides