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ID Title Author Corrected Date of Publication (TCP Date of Publication) STC Words Pages
A31636 A supplement to the proposal for a general fishery explaining the nature and benefit of the fund proposed for the same. Chamberlen, Hugh. 1694 (1694) Wing C1893; ESTC R38736 1,564 2

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〈…〉 may make Gentlemen so sensible of the Benefit of Trade as to Imploy their Heads and Time to consult the best Laws and Methods to encourage it This Method not only Secures the Persons Engaging their Estates in this Design from being loosers but makes them great gainers It secures the Nation as well as every particular Person from any prejudice by the Tickets because the Money lent as aforesaid must be paid off and Discharged by the Rent of the Land Mortgaged which cannot be denyed but to be equal to the best Mortgages now in England This Method will make us Masters of the best of Trades and much more National than was ever yet pretended to For this Company will be obliged to Build all their Ships and Busses and to make all their Nets and other Implements of Fishery in England tho' they will at first untill by Custome and Use we grow expert in those Arts and Trades cost us above 30 l. per Cent. more than we now have them Imported to us from Abroad The making all the Necessaries for Fishing in England will maintain many thousands of People now Chargeable to the Parishes And by increasing Manufactures that maintain and imploy them if convenient Laws could be obtained for Encouragement of Forraigners to come and Inhabit here we should have a great Increase of People which will cause a great increase of Trade which is the only way to raise the Value of Land and to secure the same by Sea and Land against any Enemy This Method or Bank Credit is no new thing to other Nations being Establish'd in the best Trading places in the World tho' under worse Circumstances as Holland Hamburgh Venice and other places in Italy Their Banks have no certain Fund and are by most People Believed not worth one third of what they owe and yet their Credit is more Valuable than Gold or Silver Money for 100 l. Bank Credit is frequently transferred for 2 3 or 4. per Cent. advance and never so low as for a 100 l. in money Which is well known to Traders in Holland Since then their Banks with an uncertain Fund appears by their long continuance to be so Beneficial and Valuable to Trading Nations why should not this having a certain Fund sufficient in the perfixt time to Pay off the whole Debt which yearly Lessens and the Fund accordingly Increaseth in Value And carrying with it all the same benefits and conveniencies to our Nation as they reap by theirs besides the mighty National Advantage of this desired Fishing Trade The sum of all is no more but to obtain a Charter to Incorporate such Gentlemen as are willing to engage their Estates to recover the Fishing-Trade Esteemed so great and desireable a Jewel to the Nation and now possest by Forraigners And tho' the Bills of Exchange of this Company have equal priviledge with other Persons to run upon their bare Reputation yet none of their Bills are proposed to pass without a greater value of Land be Tackt to them by the Parliament according to a Method prepared And lastly That their Bills so settled being more useful and valuable than Money of the best Gold or Silver may for the same reasons as Gold and Silver money is imposed be made Current in all Publick and Private Payments which is no more than what time and Custome would introduce of Course as is Demonstrable by such Bankers having the greatest Credit as are but reputed to have the best Fund And because nothing under Heaven can be so perfect as not to admit of Objections it is humbly hoped that it will be considered whether the great Advantages certainly following this Undertaking do not far out-ballance all the supposed Objections which can possibly be brought against it and may be easily cleared when the Objections shall be Methodically made It may not be amiss to add something here in defence of joynt Stocks because several Papers have of late been dispersed which condemn them in General It is confest joynt Stocks which ingross any Trade ought not to be granted without good Consideration But such joynt Stocks as neither Interrupts nor Prohibits any other to Trade the same way is no more to be discouraged than a Rich Merchant because there are Poorer besides There are these two Advantages in a joynt Stock first many things can be put in Practice which smaller Stocks cannot reach to Secondly Things of great hazard will be Attempted when none can be ruined by their Failures 〈…〉