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Word A Word B Word C Word D Occurrence Frequency Band MI MI Band Prominent
money_n month_n pay_v payment_n 1,570 5 10.1620 5 false
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ID Title Author Corrected Date of Publication (TCP Date of Publication) STC Words Pages
A26182 A safe and easy method for supplying the want of coin and raising as many millions as the occasions of the publick may require. Humbly offered to the consideration of the present Parliament. With some remarks upon the Bank of England, Dr. Chamberlain's Bank, the Land-Bank, so called, and the National Land-Bank. Atwood, William, d. 1705? 1695 (1695) Wing A4181; ESTC R215808 13,150 8

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a_o safe_a and_o easy_a method_n for_o supply_v the_o want_n of_o coin_n and_o raise_v as_o many_o million_o as_o the_o occasion_n of_o the_o public_a may_v require_v humble_o offer_v to_o the_o consideration_n of_o the_o present_a parliament_n with_o some_o remark_n upon_o the_o bank_n of_o england_n dr._n chamberlain_n bank_n the_o land-bank_n so_o call_v and_o the_o national_a land-bank_n ego_fw-la certè_fw-la reip_v non_fw-la deero_fw-la &_o quicquid_fw-la acciderit_fw-la a_o quo_fw-la mea_fw-la culpa_fw-la absit_fw-la animo_fw-la forti_fw-la feram_fw-la cic._n cornificio_fw-la it_o can_v be_v deny_v that_o the_o want_n of_o good_a coin_n give_v rise_v to_o the_o several_a bank_n now_o on_o foot_n by_o which_o many_o private_a person_n have_v enrich_v themselves_o and_o more_o probable_o expect_v it_o not_o without_o benefit_n to_o the_o public_a it_o be_v evident_a that_o every_o sum_n pay_v by_o bill_n of_o credit_n be_v in_o effect_n for_o the_o time_n the_o bill_n do_v pass_v so_o much_o money_n add_v to_o the_o coin_n of_o the_o kingdom_n but_o it_o be_v to_o be_v presume_v that_o the_o parliament_n will_v give_v a_o check_n to_o that_o endless_a increase_n of_o bill_n of_o credit_n which_o upon_o the_o failure_n of_o any_o of_o the_o bank_n to_o answer_v in_o specie_fw-la when_o general_o call_v for_o may_v prove_v a_o great_a mischief_n than_o that_o which_o they_o will_v remedy_v if_o therefore_o a_o way_n can_v be_v find_v to_o supply_v the_o want_n of_o coin_n by_o credit_n and_o that_o credit_v to_o have_v so_o true_a a_o foundation_n that_o it_o shall_v certain_o be_v make_v good_a in_o specie_fw-la and_o that_o within_o few_o year_n which_o have_v not_o be_v pretend_v to_o by_o any_o proposer_n of_o bank_n this_o may_v at_o the_o least_o deserve_v to_o be_v consider_v in_o parliament_n where_o what_o be_v crude_o propose_v may_v be_v mature_o digest_v and_o improve_v by_o the_o collective_a wisdom_n of_o the_o nation_n wherefore_o it_o be_v propose_v 1._o that_o a_o fund_z of_o 500000_o l._n per_fw-la a_o more_fw-it or_o less_o according_a to_o the_o sum_n to_o be_v raise_v be_v settle_v for_o eight_o year_n or_o if_o for_o a_o long_a time_n a_o less_o fund_z and_o this_o may_v be_v of_o such_o a_o nature_n as_o may_v give_v general_a satisfaction_n but_o to_o name_v a_o fund_z which_o may_v be_v reject_v may_v prejudice_v a_o method_n applicable_a to_o any_o good_a fund_z 2._o let_v the_o money_n arise_v by_o the_o fund_z be_v pay_v into_o a_o office_n to_o be_v erect_v at_o london_n or_o within_o the_o suburb_n to_o be_v call_v the_o crown-bank_n or_o publick-bank_n for_o which_o office_n let_v there_o be_v as_o many_o commissioner_n or_o director_n as_o the_o parliament_n shall_v think_v fit_a they_o to_o be_v entrust_v to_o appoint_v collector_n and_o other_o officer_n and_o to_o ascertain_v their_o salary_n and_o the_o like_a 3._o at_o that_o bank_n let_v there_o be_v draw_v on_o vellum_n or_o parchment_n or_o 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commissioner_n of_o the_o treasury_n for_o the_o time_n be_v who_o be_v to_o transmit_v the_o account_n to_o parliament_n obj._n 1_o if_o it_o be_v say_v that_o these_o bill_n be_v to_o come_v in_o within_o the_o year_n for_o which_o they_o be_v appoint_v will_v not_o pass_v abroad_o in_o foreign_a trade_n answ_n 1_o if_o that_o be_v so_o possible_o it_o may_v be_v a_o argument_n to_o recommend_v they_o as_o riches_n keep_v at_o home_n the_o chief_a topick_n against_o regulate_v our_o coin_n be_v the_o fear_n of_o enrich_v our_o neighbour_n with_o it_o answ_n 2_o however_o this_o objection_n will_v lie_v only_o against_o the_o bill_n which_o be_v to_o come_v back_o within_o the_o first_o year_n whereas_o there_o be_v enough_o of_o other_o which_o may_v lie_v out_o some_o year_n long_o enough_o for_o trafick_v abroad_o with_o they_o and_o make_v return_v upon_o which_o the_o money_n will_v be_v receive_v in_o specie_fw-la answ_n 3_o these_o bill_n if_o they_o be_v whole_o keep_v 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if_o to_o the_o stock_n in_o trade_n that_o be_v first_o to_o answer_v the_o interest_n of_o 3000_o l._n to_o every_o subscriber_n of_o 150_o l._n per_fw-la ann._n and_o let_v the_o lender_n catch_v the_o rest_n where_o he_o can_v it_o be_v needless_a here_o to_o object_v the_o want_n of_o sufficient_a certainty_n that_o the_o bill_n of_o credit_n shall_v come_v in_o upon_o any_o other_o account_n than_o their_o lie_a dead_a or_o that_o the_o governor_n of_o this_o bank_n shall_v not_o mismanage_v in_o several_a particular_n which_o may_v require_v parliamentary_a provision_n call_v the_o lincolns-inn_n exeter-exchange_n asgill_n bank_n or_o whatever_o name_n you_o will_v give_v it_o rather_o than_o that_o which_o it_o assume_v of_o land-bank_n have_v a_o subscription_n of_o 500000_o l._n with_o which_o 4_o expeditious_a gentleman_n who_o be_v director_n and_o sland_a council_n pretend_v to_o pass_v so_o many_o real_a security_n as_o shall_v make_v to_o the_o bank_n 30_o l._n per_fw-la 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per_fw-la annum_fw-la which_o must_v be_v charge_v with_o bad_a bill_n as_o well_o as_o with_o the_o good_a one_o lie_v out_o and_o possible_o with_o a_o charge_n yet_o more_o heavy_a from_o the_o defect_n of_o their_o settlement_n beside_o the_o subscriber_n will_v certain_o expect_v to_o be_v first_o serve_v with_o at_o least_o 2_o per_fw-la cent_n before_o they_o will_v suffer_v any_o part_n of_o the_o profit_n of_o the_o bank_n to_o be_v lay_v out_o for_o this_o purpose_n 4._o no_o security_n be_v equal_a to_o the_o actual_a clear_v a_o estate_n when_o the_o money_n due_a upon_o it_o be_v pay_v and_o it_o will_v be_v impossible_a for_o many_o to_o raise_v the_o money_n by_o the_o sale_n of_o any_o part_n of_o the_o estate_n or_o otherwise_o unless_o the_o estate_n can_v be_v assign_v over_o absolute_o clear_a at_o the_o time_n of_o payment_n obj._n 4_o their_o bill_n not_o be_v intend_v to_o charge_v all_o the_o estate_n convey_v to_o their_o trustee_n but_o only_o particular_a 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subscriber_n and_o to_o this_o day_n but_o 60_o l._n per_fw-la cent._n be_v pay_v in_o and_o yet_o that_o 60_o l._n sell_v for_o 100_o l._n notwithstanding_o large_a dividend_n and_o the_o loss_n perhaps_o of_o 200000_o l._n by_o the_o foreign_a exchange_n beside_o such_o bill_n as_o they_o have_v public_o make_v know_v to_o have_v be_v counterfeit_v and_o all_o wherein_o they_o have_v conceal_v their_o loss_n this_o have_v be_v do_v by_o the_o help_n of_o bill_n of_o credit_n though_o there_o can_v be_v no_o certainty_n but_o money_n may_v be_v call_v for_o fast_a than_o it_o come_v in_o nor_o be_v it_o certain_a as_o it_o will_v be_v in_o the_o crown-bank_n that_o the_o credit_n shall_v not_o extend_v not_o only_o beyond_o the_o fund_z as_o it_o have_v already_o but_o far_a than_o they_o can_v answer_v in_o payment_n though_o foreign_a merchant_n may_v take_v their_o bill_n because_o of_o their_o commerce_n here_o it_o be_v visible_a that_o it_o have_v not_o yet_o obtain_v credit_n with_o the_o bank_n at_o amsterdam_n for_o if_o it_o have_v it_o can_v not_o have_v lose_v so_o much_o by_o the_o exchange_n nor_o be_v it_o to_o be_v suppose_v that_o it_o ever_o will_v gain_v full_a credit_n there_o because_o of_o the_o extent_n of_o its_o credit_n at_o home_n beyond_o the_o real_a fund_z bank_n doctor_n chamberlain_n proposal_n as_o far_o as_o i_o can_v look_v into_o the_o mystery_n be_v this_o if_o a_o man_n make_v over_o 150_o l._n per_fw-la annum_fw-la for_o 150_o year_n to_o secure_v the_o payment_n of_o 100_o l._n yearly_a into_o his_o office_n in_o money_n or_o his_o bank_n bill_n for_o 100_o year_n and_o also_o pay_v 1000_o l._n in_o money_n at_o 4_o payment_n 400_o l._n at_o settle_v the_o estate_n 300_o l._n at_o the_o end_n of_o the_o first_o year_n 200_o l._n at_o the_o end_n of_o the_o second_o 100_o l._n at_o the_o end_n of_o the_o three_o he_o shall_v have_v bill_n for_o 6000_o l._n include_v his_o own_o 1000_o l._n of_o which_o 1000_o l._n when_o he_o seal_v 1100_o l._n at_o the_o end_n of_o the_o first_o year_n 1200_o l._n at_o the_o end_n of_o the_o second_o 1300_o l._n at_o the_o end_n of_o the_o three_o 1400_o l._n at_o the_o end_n of_o the_o forth_o beside_o 2000_o l._n in_o bill_n which_o with_o his_o 400_o l._n advance_v shall_v immediate_o be_v pay_v to_o the_o treasurer_n of_o the_o joint_a stock_n in_o trade_n to_o which_o 600_o l._n must_v be_v add_v as_o it_o come_v in_o and_o the_o party_n must_v pay_v 5_o ●_o per_fw-la cent_n yearly_o for_o the_o whole_a 8000_o l._n for_o the_o charge_n of_o the_o office_n and_o if_o man_n will_v lend_v money_n he_o propose_v for_o 1000_o l._n to_o pay_v 1400_o l._n in_o 4_o year_n where_o its_o observable_a 1._o whereas_o the_o office_n pretend_v to_o but_o 5_o ●_o per_fw-la cent_n it_o be_v a_o full_a five_o of_o the_o whole_a value_n for_o it_o be_v 2000_o l._n bill_n to_o the_o party_n 8000_o ●_o except_o his_o own_o 1000_o l._n and_o it_o be_v better_a than_o a_o three_o of_o what_o he_o receive_v to_o dispose_v of_o shall_v we_o admit_v that_o his_o bill_n will_v circulate_v 2._o he_o be_v so_o far_o from_o suppose_v that_o these_o bill_n will_v ever_o be_v pay_v in_o specie_fw-la that_o he_o make_v no_o manner_n of_o provision_n for_o it_o but_o allow_v the_o annuity_n which_o be_v the_o fund_z for_o the_o bill_n to_o be_v pay_v in_o bill_n and_o so_o the_o bill_n be_v to_o carry_v themselves_o from_o the_o bank_n and_o to_o the_o bank_n without_o any_o circulation_n or_o profit_n 3._o the_o circulation_n if_o any_o must_v be_v perform_v at_o the_o very_a beginning_n by_o one_o upon_o seven_o and_o a_o half_a 400_o l._n be_v all_o that_o be_v to_o be_v pay_v till_o the_o end_n of_o the_o first_o year_n to_o circulate_v the_o 1000_o l._n in_o bill_n receive_v by_o the_o party_n and_o the_o 2000_o l._n in_o bill_n put_v to_o the_o stock_n of_o trade_n unless_o what_o be_v accidental_a upon_o the_o come_n in_o of_o money_n lend_v which_o in_o truth_n clog_v the_o bank_n with_o 50_o ●_o per_fw-la annum_fw-la loss_n for_o every_o 1000_o l._n and_o that_o money_n will_v be_v no_o more_o than_o be_v requisite_a to_o clear_a encumbrance_n upon_o estate_n subscribe_v and_o if_o any_o part_n of_o the_o 400_o l._n first_o bring_v in_o be_v employ_v in_o trade_n that_o before_o profitable_a return_n leave_v the_o less_o to_o circulate_v the_o bill_n and_o if_o half_o be_v employ_v in_o trade_n 1_o l._n must_v circulate_v 15_o l._n 4._o if_o the_o annuity_n be_v to_o be_v pay_v in_o money_n which_o will_v be_v very_o hard_a upon_o they_o who_o have_v the_o bill_n dead_a by_o they_o yet_o the_o distance_n of_o 100_o year_n make_v it_o very_o questionable_a what_o 150_o l._n per_fw-la annum_fw-la shall_v hold_v out_o 100_o l._n per_fw-la annum_fw-la in_o all_o event_n 5._o if_o this_o be_v practicable_a it_o will_v be_v far_o from_o answer_v the_o great_a end_n which_o the_o doctor_n do_v or_o aught_o to_o propound_v of_o lessen_v the_o burden_n upon_o land_n for_o either_o man_n with_o encumber_a estate_n must_v not_o come_v in_o or_o if_o they_o do_v they_o will_v great_o abate_v the_o possibility_n of_o circulate_v the_o bill_n suppose_v a_o man_n of_o 150_o l._n per_fw-la annum_fw-la owe_v 1000_o l._n and_o take_v up_o the_o 1000_o l._n which_o he_o must_v advance_v or_o suppose_v only_o the_o first_o 400_o l._n be_v in_o money_n but_o for_o the_o rest_n he_o may_v bring_v the_o bill_n he_o receive_v from_o the_o bank_n in_o the_o first_o case_n he_o have_v occasion_n for_o five_o time_n as_o much_o money_n as_o a_o man_n of_o a_o clear_a estate_n bring_v to_o the_o bank_n if_o only_o the_o 400_o l._n be_v to_o be_v pay_v in_o money_n than_o indeed_o he_o will_v have_v occasion_n for_o less_o than_o 4_o time_n as_o much_o as_o the_o other_o bring_v but_o by_o the_o same_o rule_n there_o may_v never_o be_v more_o than_o the_o first_o 400_o l_o for_o every_o 150_o l._n per_fw-la annum_fw-la subscribe_v to_o circulate_v all_o the_o bill_n but_o if_o the_o man_n owe_v 1500_o l._n he_o be_v exclude_v from_o all_o benefit_n of_o this_o bank_n 6._o the_o lender_n will_v expect_v better_a security_n than_o can_v be_v find_v here_o shall_v he_o resort_v to_o his_o own_o money_n that_o be_v lend_v out_o to_o subscriber_n of_o land_n shall_v he_o go_v to_o their_o land_n that_o be_v make_v over_o to_o answer_v the_o annuity_n to_o the_o bank_n in_o its_o bill_n or_o money_n if_o in_o bill_n they_o be_v never_o likely_a to_o yield_v money_n if_o in_o money_n that_o must_v be_v lay_v out_o to_o purchase_v bill_n and_o they_o be_v to_o be_v cancel_v
the_o bill_n upon_o that_o estate_n shall_v not_o pass_v these_o bill_n not_o be_v personal_a charge_n quere_z 1_o whether_o the_o party_n that_o receive_v they_o be_v in_o as_o good_a a_o condition_n as_o he_o that_o receive_v a_o note_n from_o a_o banker_n man_n quere_z 2_o whether_o this_o perversion_n of_o the_o nature_n of_o bill_n of_o exchange_n which_o hitherto_o have_v be_v personal_a and_o now_o be_v turn_v upon_o land_n which_o can_v neither_o answer_v nor_o receive_v letter_n of_o advice_n nor_o be_v out_o of_o countenance_n when_o bill_n be_v protest_v be_v not_o a_o invention_n as_o new_a to_o the_o lawyer_n as_o to_o the_o merchant_n obj._n 7_o suppose_v the_o bank_n lend_v 10000_o l._n to_o a_o man_n who_o after_o settle_v his_o estate_n to_o the_o use_n of_o the_o bank_n according_a to_o this_o new_a contrivance_n mortgage_n to_o a_o other_o who_o know_v nothing_o of_o the_o first_o mortgage_n for_o 10000_o l._n bona_fw-la fide_fw-la pay_v quere_z whether_o the_o second_o mortgagee_n shall_v not_o in_o equity_n compel_v the_o first_o trustee_n to_o assign_v the_o legal_a estate_n to_o he_o and_o exclude_v the_o new_a trustee_n from_o a_o equity_n which_o have_v be_v no_o otherwise_o vest_v in_o they_o than_o as_o above_o and_o what_o regard_n in_o this_o case_n will_v the_o court_n of_o chancery_n have_v to_o the_o intend_a charge_n upon_o the_o estate_n by_o that_o blind_a and_o inauthoritative_a reference_n to_o a_o book_n of_o entry_n or_o suppose_v the_o trustee_n to_o who_o the_o state_n be_v convey_v and_o be_v likely_a to_o be_v disoblige_v by_o be_v vote_v out_o of_o the_o trust_n of_o the_o equity_n which_o be_v design_v to_o govern_v the_o legal_a interest_n shall_v join_v with_o the_o mortgagor_n in_o assurance_n to_o other_o who_o will_v be_v in_o the_o best_a condition_n those_o other_o person_n or_o the_o bank_n bank_n in_o such_o difficulty_n be_v these_o gentleman_n involve_v by_o run_v in_o the_o dark_a byond_a their_o guide_n mr._n briscoe_n who_o sometime_o before_o they_o set_v up_o have_v make_v a_o very_a rational_a proposal_n for_o turn_v all_o the_o land_n of_o the_o kingdom_n which_o shall_v be_v convey_v to_o trustee_n for_o the_o use_n of_o the_o bank_n into_o a_o live_a stock_n and_o ease_v other_o of_o their_o excessive_a load_v by_o bring_v a_o million_o of_o money_n to_o circulate_v 4_o million_o of_o bill_n charge_v upon_o land_n and_o money_n the_o whole_a fund_z making_z good_a every_o bill_n yet_o no_o man_n land_n be_v to_o continue_v in_o long_a than_o he_o please_v but_o he_o may_v withdraw_v it_o at_o any_o time_n pay_v the_o money_n which_o he_o have_v take_v up_o there_o and_o his_o proportion_n of_o loss_n if_o any_o have_v then_o happen_v and_o whether_o he_o have_v occasion_n for_o money_n or_o no_o he_o be_v to_o take_v up_o one_o year_n revenue_n of_o his_o land_n that_o the_o bank_n may_v be_v the_o first_o mortgagee_n if_o after_o settle_v his_o estate_n he_o shall_v borrow_v 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be_v ascertain_v they_o can_v fail_v of_o be_v a_o fund_z of_o credit_n for_o 3_o 4_o this_o of_o the_o value_n and_o therefore_o he_o who_o subscribe_v 100_o l._n per_fw-la ann._n be_v to_o have_v credit_n for_o 1500_o l._n and_o his_o share_n in_o the_o bank_n according_o and_o yet_o shall_v receive_v the_o yearly_a income_n pay_v his_o proportion_n of_o loss_n and_o such_o money_n or_o bill_n as_o he_o take_v up_o and_o as_o the_o interest_n which_o himself_o pay_v be_v part_n of_o the_o profit_n in_o which_o he_o share_v it_o be_v high_o probable_o that_o he_o can_v pay_v 2_o l._n per_fw-la cent._n after_o the_o first_o year_n and_o after_o that_o will_v receive_v more_o per_fw-mi cent_z than_o he_o have_v pay_v on_o the_o other_o side_n he_o that_o subscribe_v 1500_o l._n shall_v have_v equal_a advantage_n with_o the_o subscriber_n of_o 100_o l_o per_fw-la an._n and_o 3_o l._n per_fw-la cent._n for_o the_o whole_a from_o his_o first_o payment_n nor_o can_v his_o money_n be_v call_v in_o fast_a than_o at_o 10_o quarterly_a payment_n but_o if_o he_o choose_v to_o pay_v fast_o he_o may_v have_v interest_n at_o 3_o l._n per_fw-la cent._n for_o all_o above_o the_o payment_n then_o due_a yet_o some_o of_o the_o present_a director_n lodge_v many_o thousand_o there_o without_o interest_n and_o if_o we_o may_v conjecture_v by_o the_o increase_n of_o credit_n in_o the_o bank_n of_o england_n which_o have_v a_o much_o less_o and_o less_o certain_a fund_z it_o be_v not_o to_o be_v think_v that_o more_o than_o half_a the_o subscription-money_n need_v be_v call_v in_o and_o then_o they_o will_v have_v 6_o l._n per_fw-la cent._n certain_a beside_o their_o share_n in_o the_o profit_n though_o these_o payment_n may_v seem_v too_o slow_a to_o set_v the_o bank_n in_o credit_n especial_o after_o the_o coin_n be_v regulate_v and_o man_n will_v be_v less_o fond_a of_o bill_n than_o they_o have_v be_v yet_o such_o a_o fund_z can_z never_o fail_v of_o command_a money_n where_o it_o be_v needful_a nor_o will_v man_n unnecessary_o call_v for_o money_n while_o they_o can_v have_v so_o good_a bill_n especial_o if_o this_o bank_n be_v establish_v by_o ast_n of_o parliament_n in_o consequence_n of_o which_o it_o will_v soon_o become_v a_o registry_n for_o most_o of_o the_o land_n in_o the_o kingdom_n and_o if_o it_o be_v make_v so_o for_o such_o as_o will_v voluntary_o enter_v their_o land_n and_o encumbrance_n or_o the_o claim_n which_o they_o have_v and_o be_v 100000_o l._n per_fw-la an_n settle_v for_o 40_o year_n for_o 1600000_o l._n to_o the_o public_a whereas_o the_o bank_n of_o england_n have_v in_o effect_n a_o perpetuity_n for_o 1200000_o l._n it_o will_v make_v this_o bank_n no_o mean_a rival_n to_o that_o of_o amsterdam_n beside_o the_o raise_n land_n to_o 40_o year_n purchase_v general_o and_o that_o in_o bank_n to_o much_o more_o nor_o can_v it_o be_v think_v that_o the_o landed-man_n who_o must_v needs_o have_v the_o prevail_a interest_n in_o parliament_n can_v long_o neglect_v those_o advantage_n which_o will_v set_v they_o upon_o a_o equal_a bottom_n with_o the_o trader_n and_o usurer_n the_o most_o weighty_a objection_n which_o i_o have_v meet_v with_o against_o this_o bank_n be_v these_o two_o obj._n 1_o that_o the_o subscriber_n of_o money_n be_v not_o secure_a because_o the_o landed-man_n may_v withdraw_v his_o estate_n answ_n 1_o but_o it_o be_v to_o be_v consider_v that_o this_o hazard_n be_v the_o same_o to_o every_o landed-man_n that_o continue_v in_o and_o beside_o all_o bear_v their_o pro_fw-la portion_n while_o they_o stay_v in_o and_o pay_v at_o their_o go_v out_o and_o therefore_o be_v upon_o equal_a hazard_n answ_n 2_o if_o i_o mistake_v not_o the_o monied-man_n may_v have_v credit_n for_o 3_o 4th_n of_o the_o value_n of_o his_o whole_a subscription_n and_o extend_v that_o credit_n in_o bank_n bill_n and_o if_o this_o use_n of_o his_o stock_n will_v not_o for_o that_o time_n be_v like_o a_o withdrawing_a so_o much_o yet_o if_o he_o shall_v never_o be_v able_a to_o bring_v this_o back_n to_o the_o bank_n this_o may_v be_v worse_o than_o a_o landman_n withdraw_a his_n land_n answ_n 3_o the_o subscriber_n of_o land_n either_o come_v with_o clear_a estate_n or_o owe_v money_n upon_o they_o in_o the_o first_o case_n the_o money_a man_n have_v great_a reason_n to_o be_v thankful_a that_o they_o give_v the_o bank_n credit_n for_o 2000_o l._n actual_o convey_v and_o in_o effect_n bring_v in_o to_o every_o 1500_o l._n subscribe_v in_o money_n when_o but_o a_o 10_o part_n be_v pay_v in_o and_o possible_o there_o may_v never_o be_v 4_o 10th_n more_o and_o if_o any_o land_a man_n shall_v withdraw_v the_o benefit_n that_o be_v expect_v and_o will_v be_v
certain_a when_o ever_o estate_n to_o the_o value_n of_o 2_o or_o 3_o million_o be_v settle_v will_v bring_v in_o enough_o of_o clear_a estate_n when_o they_o see_v the_o certainty_n of_o receive_v their_o revenue_n and_o yet_o have_v large_a interest_n as_o if_o they_o have_v advance_v 1500_o l._n for_o every_o 100_o l._n per_fw-la ann._n if_o the_o estate_n be_v encumber_v it_o must_v be_v under_o 3_o 4th_n of_o the_o value_n or_o they_o can_v be_v admit_v into_o the_o bank_n but_o if_o all_o the_o subscriber_n of_o land_n take_v up_o the_o 3_o 4th_n the_o money_a man_n profit_n will_v be_v the_o great_a and_o such_o man_n the_o bank_n be_v sure_a of_o till_o they_o can_v pay_v their_o money_n and_o in_o the_o mean_a while_o it_o have_v their_o estate_n as_o a_o fund_z of_o credit_n not_o only_o for_o that_o money_n but_o for_o the_o remain_a four_o which_o the_o land-bank_n so_o call_v can_v pretend_v to_o any_o far_a than_o as_o a_o security_n for_o the_o money_n borrow_v upon_o the_o respective_a estate_n obj._n 2_o the_o other_o objection_n be_v what_o lie_v as_o well_o against_o the_o bank_n of_o england_n and_o the_o land-bank_n so_o call_v which_o be_v the_o possibillity_n of_o bad_a title_n and_o counterfeit_a bill_n answ_n 1_o but_o the_o loss_n upon_o either_o or_o both_o must_v be_v first_o out_o of_o the_o profit_n and_o if_o loss_n except_v but_o 3_o l._n per_fw-la cent._n be_v clear_v that_o will_v be_v 150000_o l._n which_o no_o man_n can_v imagine_v shall_v be_v loss_v in_o any_o year_n and_o there_o be_v no_o doubt_n but_o the_o reasonable_a expectation_n of_o a_o much_o great_a gain_n will_v induce_v number_n of_o prudent_a man_n to_o venture_v with_o clear_a estate_n however_o the_o bank_n can_v stand_v without_o they_o and_o no_o man_n who_o owe_v 1500_o l._n or_o 1000_o l._n upon_o 100_o l._n per_fw-la an._n can_v possible_o be_v discourage_v from_o such_o a_o method_n of_o lessen_v his_o burden_n nor_o be_v it_o to_o be_v think_v but_o many_o will_v come_v in_o if_o it_o be_v for_o no_o other_o end_n but_o to_o set_v a_o example_n for_o such_o a_o national_a good_a as_o have_v be_v want_v for_o many_o age_n land-bank_n indeed_o objection_n have_v be_v publish_v by_o some_o body_n concern_v in_o the_o land_n bank_n so_o call_v which_o have_v so_o little_a in_o they_o and_o so_o much_o mistake_v plain_a fact_n that_o they_o hardly_o deserve_v notice_n as_o obj._n 1_o that_o mr._n briscoe_n propose_v 3_o million_o fund_z one_o in_o money_n two_o in_o land_n when_o the_o proposal_n be_v for_o 5_o million_o and_o but_o one_o in_o money_n so_o that_o whereas_o the_o profit_n to_o the_o moneyed_a man_n be_v suppose_v to_o be_v one_o 3d._n beside_o his_o 3_o l._n per_fw-la cent_n it_o be_v but_o one_o 5_o l._n of_o the_o whole_a obj._n 2_o he_o will_v have_v all_o the_o profit_n to_o the_o subscriber_n to_o arise_v by_o take_v run_v cash_n at_o 2_o l._n per_fw-la cent_n and_o let_v it_o out_o at_o 3_o l._n upon_o which_o he_o raise_v a_o vain_a calculation_n how_o many_o million_o at_o 1_o l._n per_fw-la cent_n clear_a profit_n must_v circulate_v to_o make_v 6_o l._n per_fw-la cent_n to_o the_o subscriber_n not_o consider_v that_o this_o will_v be_v a_o objection_n against_o their_o bank_n for_o if_o neither_o can_v extend_v its_o credit_n beyond_o the_o money_n in_o bank_n or_o advance_v in_o specie_fw-la it_o be_v to_o no_o purpose_n to_o pretend_v to_o a_o bank_n of_o credit_n but_o suppose_v the_o million_o subscribe_v in_o money_n shall_v circulate_v but_o the_o single_a value_n of_o the_o original_a fund_z which_o be_v all_o as_o money_n to_o help_v circulation_n this_o will_v turn_v to_o much_o better_a account_n than_o with_o reason_n can_v be_v expect_v in_o their_o bank_n as_o will_v appear_v by_o the_o next_o objection_n obj._n 3_o he_o say_v the_o inequality_n of_o interest_n between_o the_o land_n and_o money_n subscriber_n can_v admit_v of_o no_o reconciliation_n for_o 3_o l._n per_fw-la cent_n gain_n raise_v the_o money_v man_n interest_n but_o to_o six_o and_o yet_o make_v the_o land_a man_n borrow_v money_n for_o nothing_o whereas_o if_o this_o be_v do_v with_o half_a the_o subscription_n money_n pay_v in_o the_o moneyed_a man_n have_v at_o the_o rate_n of_o 12_o l._n per_fw-la cent_n and_o then_o he_o need_v not_o envy_v the_o land_a man_n the_o advantage_n which_o be_v not_o gain_v by_o the_o money_n only_o but_o advance_v by_o the_o credit_n of_o the_o land_n which_o as_o be_v before_o observe_v be_v 2000_o l._n actual_o convey_v to_o 1500_o l._n subscribe_v and_o but_o half_o that_o pay_v and_o perhaps_o much_o less_o when_o yet_o if_o i_o mistake_v not_o the_o money_v man_n shall_v have_v credit_n to_o supply_v his_o occasion_n for_o three_o forth_n of_o his_o subscription_n obj._n 4_o it_o be_v urge_v that_o the_o land_n subscriber_n be_v the_o majority_n the_o money_n must_v be_v dispose_v of_o at_o the_o will_n of_o the_o ●orrowers_n answ_n but_o wherein_o they_o can_v prejudice_v the_o money_v man_n i_o can_v understand_v can_v they_o ca●l_v in_o the_o money_n too_o fast_o this_o can_v be_v fast_o than_o at_o 10_o quarterly_a payment_n whereas_o the_o land_a man_n convey_v his_o estate_n at_o first_o and_o the_o more_o money_n be_v call_v in_o the_o more_o be_v suppose_v to_o be_v let_v out_o at_o interest_n which_o each_o share_n in_o according_a to_o his_o proportion_n can_v it_o be_v think_v the_o land_a man_n will_v the_o rather_o incline_v to_o put_v the_o money_n out_o upon_o bad_a security_n that_o become_v a_o charge_n upon_o their_o own_o land_n and_o whatever_o advantage_n they_o make_v to_o the_o bank_n redound_v to_o the_o other_o benefit_n and_o they_o who_o have_v the_o large_a stake_n there_o will_v be_v more_o concern_v for_o improve_n the_o stock_n than_o they_o who_o may_v venture_v a_o little_a there_o the_o better_a to_o raise_v the_o much_o great_a interest_n which_o they_o have_v elsewhere_o and_o yet_o no_o land_v man_n how_o much_o soever_o he_o have_v subscribe_v can_v have_v 〈◊〉_d than_o 5_o vote_n obj._n 5_o there_o be_v a_o other_o objection_n not_o to_o have_v be_v expect_v from_o one_o of_o that_o other_o bank_n which_o be_v the_o inconvenience_n and_o hazard_n that_o mr._n briscoe_n subscriber_n may_v meet_v with_o by_o a_o unpresidented_a settlement_n of_o their_o estate_n answ_n but_o as_o i_o can_v find_v any_o precedent_n for_o their_o fanciful_a settlement_n neither_o can_v i_o apprehend_v any_o difficulty_n in_o settle_v a_o estate_n upon_o trustee_n to_o be_v subject_a to_o its_o proportion_n of_o loss_n and_o gain_n nor_o can_v the_o fear_n of_o loss_n reasonable_o deter_v where_o the_o gain_n be_v so_o probable_a and_o invite_a i_o must_v needs_o say_v it_o have_v not_o appear_v to_o i_o that_o ever_o any_o body_n before_o mr._n briscoe_n propose_v a_o practicable_a scheme_n for_o this_o and_o yet_o sir_n william_n petty_n seem_v in_o the_o year_n 1682_o to_o have_v have_v something_o of_o the_o like_a kind_n in_o view_n when_o to_o the_o question_n money_n what_o remedy_n be_v there_o if_o we_o have_v too_o little_a money_n he_o say_v we_o must_v erect_v a_o bank_n which_o well_o compute_v do_v almost_o double_a the_o effect_n of_o our_o coin_a money_n and_o we_o have_v in_o england_n material_n for_o a_o bank_n which_o shall_v furnish_v stock_n enough_o to_o drive_v the_o trade_n of_o the_o whole_a commercial_a world_n the_o hint_n of_o so_o great_a a_o man_n be_v not_o to_o be_v despise_v at_o least_o show_v that_o bank_n of_o credit_n be_v france_n not_o to_o be_v look_v on_o as_o vain_a project_n in_o this_o belief_n i_o be_o far_a confirm_v by_o peruse_v a_o treatise_n now_o in_o my_o hand_n wherein_o a_o person_n of_o great_a judgement_n and_o experience_n not_o only_o hold_v that_o it_o be_v necessary_a at_o this_o time_n for_o the_o parliament_n to_o appoint_v bill_n of_o credit_n but_o that_o they_o may_v be_v effectual_a with_o only_a 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interest_n and_o consequent_o there_o will_v be_v no_o need_n of_o the_o crown_n pay_v interest_n when_o it_o at_o the_o very_a first_o pay_v bill_n which_o be_v current_n not_o only_o because_o they_o shall_v in_o their_o time_n be_v pay_v in_o money_n but_o in_o the_o mean_a while_n be_v as_o true_a a_o medium_fw-la of_o trade_n and_o profit_n this_o therefore_o in_o few_o year_n time_n will_v save_v the_o nation_n some_o million_o as_o well_o as_o yield_v million_o for_o the_o present_a occasion_n 3._o whereas_o it_o will_v be_v some_o year_n before_o the_o benefit_n of_o the_o best_a of_o the_o other_o bank_n can_v be_v diffuse_v over_o the_o whole_a nation_n this_o may_v be_v in_o few_o week_n as_o soon_o as_o the_o bill_n can_v be_v finish_v and_o deliver_v out_o 4._o if_o there_o be_v any_o apprehension_n that_o other_o bank_n may_v be_v too_o powerful_a or_o may_v be_v a_o mean_n of_o engross_a commodity_n and_o enhanse_a their_o prize_n this_o have_v its_o certain_a limit_n and_o reach_v no_o far_o than_o the_o necessity_n of_o the_o public_a require_v 5._o forwardness_n to_o close_a with_o invitation_n to_o honest_a profit_n may_v lead_v the_o director_n of_o other_o bank_n to_o pass_v bad_a title_n or_o what_o be_v fair_o adventure_v may_v miscarry_v but_o the_o crown-bank_n propose_v be_v in_o its_o nature_n as_o firm_a and_o stable_a as_o the_o foundation_n of_o this_o monarchy_n which_o can_v never_o be_v move_v but_o by_o such_o a_o calamity_n as_o shall_v leave_v we_o no_o visible_a mean_n of_o continue_v a_o protestant_n nation_n or_o free_a people_n finis_fw-la finis_fw-la this_o to_o secure_v the_o come_n in_o of_o the_o bill_n yet_o they_o that_o be_v to_o come_v in_o last_o will_v be_v of_o like_a benefit_n with_o the_o first_o 〈◊〉_d the_o last_o pass_v for_o money_n and_o may_v be_v dispose_v of_o or_o put_v out_o at_o interest_n from_o the_o beginning_n of_o the_o bank_n of_o england_n of_o doctor_n chamberlain_n bank_n of_o the_o land-bank_n so_o call_v vid._n the_o print_a settlement_n vid._n the_o print_a settlement_n of_o the_o national_a land_n bank_n vid._n the_o letter_n from_o a_o citizen_n concern_v the_o land-bank_n sir_n will._n pe●●●'s_n quantulum_fw-la cu●que_fw-la concern_v money_n vid._n mr._n john_n blackwell_n essay_n towards_o carry_v on_o the_o war_n against_o france_n