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world_n great_a know_v see_v 11,130 5 3.2009 3 true
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ID Title Author Corrected Date of Publication (TCP Date of Publication) STC Words Pages
A45080 An Humble proposal, whereby His Majesty may raise and extend his credit to the annual value of his revenue without interest or damage to the kingdom 1674 (1674) Wing H3596; ESTC R10611 4,905 14

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a_o humble_a proposal_n whereby_o his_o majesty_n may_v raise_v and_o extend_v his_o credit_n to_o the_o annual_a value_n of_o his_o revenue_n without_o interest_n or_o damage_n to_o the_o kingdom_n in_o the_o savoy_n print_v by_o thomas_n newcomb_n 1675_o 4_o a_o humble_a proposal_n whereby_o his_o majesty_n may_v raise_v and_o extend_v his_o credit_n to_o the_o annual_a value_n of_o his_o revenue_n without_o interest_n or_o damage_n to_o the_o kingdom_n that_o all_o money_n may_v be_v indifferent_o respect_v as_o a_o metal_n and_o as_o a_o coin_n as_o a_o metal_n it_o be_v serviceable_a to_o many_o other_o good_a purpose_n and_o be_v rate_v according_o it_o will_v not_o rise_v in_o price_n much_o above_o other_o metal_n as_o a_o coin_n it_o be_v no_o more_o than_o a_o counter_n yet_o as_o the_o matter_n now_o go_v that_o be_v it_o which_o now_o raise_v it_o in_o value_n infinite_o above_o all_o other_o metal_n in_o the_o world_n and_o we_o annual_o part_v with_o great_a quantity_n of_o our_o best_a staple_n commodity_n to_o the_o value_n of_o many_o hundred_o thousand_o pound_n worth_a to_o purchase_v so_o much_o of_o the_o aforesaid_a metal_n as_o will_v supply_v our_o want_n of_o money_n which_o as_o be_v say_v be_v nothing_o else_o but_o certain_a authorize_v coin_n or_o medal_n that_o like_a token_n of_o account_n be_v sure_a upon_o every_o commutation_n of_o commodity_n to_o yield_v their_o impress_v value_n serve_v only_o to_o supply_v the_o interval_n of_o time_n between_o the_o sell_n of_o one_o commodity_n and_o the_o buy_n of_o another_o which_o credit_n ground_v on_o good_a security_n can_v as_o well_o perform_v by_o transfer_v the_o same_o from_o one_o to_o another_o as_o the_o ownership_n of_o money_n in_o foreign_a bank_n for_o that_o be_v by_o many_o accept_v and_o often_o prefer_v before_o money_n be_v that_o only_a not_o use_n that_o will_v both_o attract_v and_o command_v it_o to_o any_o place_n or_o person_n whatsoever_o nor_o be_v money_n so_o to_o be_v think_v the_o life_n of_o trade_n as_o though_o it_o can_v not_o subsist_v without_o it_o see_v it_o be_v well_o know_v there_o have_v be_v very_o great_a trade_n by_o way_n of_o commutation_n or_o barter_n when_o there_o be_v but_o little_a money_n stir_v in_o the_o world_n the_o dutch_a italian_n etc._n etc._n have_v such_o remedy_n against_o this_o want_n that_o it_o can_v neither_o decay_v nor_o hinder_v their_o trade_n because_o they_o common_o transport_v bill_n of_o debt_n and_o have_v both_o public_a and_o private_a bank_n wherein_o they_o assign_v their_o respective_a credit_n daily_o for_o very_o great_a sum_n and_o that_o with_o great_a ease_n and_o satisfaction_n by_o write_n only_o whilst_o in_o the_o interim_n that_o mass_n of_o treasure_n give_v foundation_n to_o the_o aforesaid_a credit_n be_v employ_v in_o foreign_a trade_n and_o merchandise_n etc._n etc._n and_o by_o those_o mean_n they_o have_v little_a other_o use_n of_o money_n more_o than_o for_o their_o ordinary_a expense_n the_o benefit_n or_o grand_a effect_n of_o the_o aforesaid_a bank_n whether_o public_a or_o private_a be_v sufficient_o know_v though_o not_o so_o well_o understand_v at_o first_o and_o be_v introduce_v into_o the_o low-countries_n by_o a_o public_a edict_n or_o placaet_n of_o the_o state_n require_v all_o payment_n exceed_v such_o a_o sum_n to_o be_v make_v at_o one_o place_n which_o be_v fair_o register_v and_o put_v to_o each_o man_n account_n the_o bank_n in_o nature_n of_o a_o record_n become_v of_o course_n a_o witness_n to_o all_o receipt_n and_o payment_n make_v there_o avoid_v thereby_o many_o litigious_a dispute_n in_o law_n which_o usual_o happen_v in_o other_o country_n to_o the_o great_a obstruction_n of_o commerce_n and_o although_o every_o man_n may_v indifferent_o carry_v off_o his_o money_n in_o specie_fw-la to_o his_o own_o house_n or_o have_v it_o place_v on_o his_o account_n yet_o forasmuch_o as_o by_o law_n all_o be_v oblige_v to_o pay_v it_o there_o whensoever_o they_o have_v occasion_n to_o issue_v it_o out_o again_o they_o choose_v rather_o to_o pass_v over_o their_o respective_a credit_n by_o way_n of_o assignation_n which_o come_v in_o a_o continual_a suit_n to_o a_o hundred_o by_o mean_n whereof_o a_o hundred_o pound_n be_v sufficient_a to_o answer_v the_o credit_n of_o a_o hundred_o time_n as_o much_o in_o bank_n that_o this_o bank_n credit_n be_v as_o well_o current_a with_o the_o state_n as_o with_o and_o among_o the_o merchant_n otherwise_o it_o will_v have_v happen_v to_o they_o as_o with_o private_a cashier_v in_o this_o city_n where_o the_o slight_v their_o bill_n of_o credit_n have_v ever_o prove_v fatal_a to_o they_o and_o therefore_o if_o ever_o his_o majesty_n design_n any_o thing_n of_o this_o nature_n he_o must_v be_v sure_a that_o the_o same_o credit_n he_o will_v have_v current_o receive_v by_o other_o throughout_o his_o own_o dominion_n be_v make_v so_o in_o all_o public_a receipt_n and_o payment_n which_o alone_o will_v make_v it_o current_n to_o all_o else_o it_o be_v not_o to_o be_v expect_v his_o majesty_n credit_n shall_v pass_v or_o be_v ever_o accept_v by_o any_o man_n that_o all_o those_o place_n where_o bank_n be_v erect_v and_o bill_n of_o debt_n transport_v in_o trade_n money_n be_v allow_v to_o be_v bring_v in_o and_o carry_v out_o at_o pleasure_n without_o any_o loss_n or_o prejudice_n to_o trade_n and_o in_o truth_n it_o be_v reckon_v in_o those_o place_n no_o more_o than_o a_o commodity_n rise_v and_o fall_v in_o value_n as_o the_o same_o increase_v or_o diminish_v in_o quantity_n as_o all_o other_o commodity_n do_v and_o whereas_o it_o may_v be_v think_v the_o kingdom_n both_o in_o respect_n of_o the_o government_n and_o some_o other_o accident_n frequent_o object_v be_v under_o those_o circumstance_n as_o may_v render_v it_o whole_o incompatible_a with_o any_o thing_n of_o this_o nature_n than_o which_o nothing_o can_v be_v offer_v more_o to_o the_o disgrace_n of_o monarchy_n so_o much_o admit_v and_o celebrate_v by_o the_o great_a part_n of_o mankind_n as_o the_o best_a of_o government_n it_o remain_v to_o propose_v how_o notwithstanding_o to_o reduce_v it_o to_o practice_v in_o this_o as_o well_o as_o in_o other_o country_n 1._o that_o certain_a public_a place_n call_v bank_n or_o grand_a cash_n assignable_a by_o his_o majesty_n in_o the_o most_o convenient_a part_n of_o the_o kingdom_n be_v erect_v where_o all_o receipt_n and_o payment_n to_o and_o from_o the_o crown_n especial_o exceed_v such_o a_o sum_n may_v be_v respective_o make_v 2._o that_o all_o person_n receive_v money_n in_o bank_n or_o other_o aforesaid_a grand_fw-fr cash_n have_v liberty_n indifferent_o to_o assign_v over_o he_o or_o their_o credit_n where_o the_o same_o shall_v be_v place_v to_o each_o man_n account_n by_o way_n of_o debt_n and_o credit_n according_a to_o what_o be_v receive_v and_o pay_v or_o carry_v the_o same_o away_o in_o specie_fw-la provide_v security_n be_v first_o give_v to_o make_v his_o or_o their_o respective_a payment_n there_o for_o the_o value_n receive_v when_o ever_o they_o have_v occasion_n to_o deliver_v it_o out_o again_o 3._o that_o the_o aforesaid_a credit_n be_v make_v current_n in_o all_o public_a receipt_n and_o payment_n of_o the_o crown_n his_o majesty_n shall_v never_o be_v without_o the_o annual_a value_n of_o his_o revenue_n in_o cash_n without_o take_v up_o the_o same_o as_o heretofore_o on_o interest_n but_o to_o employ_v and_o improve_v to_o the_o best_a advantage_n of_o the_o crown_n and_o kingdom_n or_o thus_o 4._o that_o in_o all_o case_n of_o necessity_n and_o in_o defect_n of_o money_n tally_n be_v strike_v in_o the_o exchequer_n not_o exceed_v the_o annual_a value_n of_o his_o majesty_n revenue_n 5._o that_o there_o be_v a_o certain_a public_a place_n where_o all_o person_n receive_v the_o say_a tally_n may_v reposit_v the_o same_o under_o the_o custody_n and_o care_n of_o some_o general_a cashier_n or_o banker_n appoint_v by_o authority_n who_o shall_v upon_o receipt_n thereof_o under_o the_o seal_n of_o his_o majesty_n exchequer_n or_o some_o other_o peculiar_a stamp_n like_o those_o in_o the_o power_n impress_v on_o money_n cause_n the_o same_o at_o the_o election_n of_o the_o proprietor_n to_o be_v coin_v into_o small_a bill_n of_o credit_n as_o low_a as_o 5_o l._n or_o under_o and_o deliver_v out_o according_o on_o demand_n 6._o that_o to_o the_o end_n the_o same_o may_v become_v current_n throughout_o the_o whole_a kingdom_n in_o trade_n it_o be_v humble_o propose_v that_o it_o may_v be_v ordain_v by_o his_o majesty_n prerogative_n royal_a or_o in_o parliament_n that_o the_o say_a bill_n of_o credit_n thus_o ground_v and_o support_v as_o aforesaid_a shall_v be_v allow_v and_o accept_v in_o all_o public_a receipt_n and_o payment_n make_v to_o the_o king_n