THE Fifth is, the carrying on the Fishery, which deserves all the Encouragement the Legislature can give it; and I think the readiest way to do it, is, by incorporating such Societies, as are witting to set upon it with joint Stocks, but not exclusive to any others, which will promote Industry, and shut out Stock-jobbing, the Bane of so many good Undertakings. THE sixth, and indeed the Foundation of all the rest, is, the establishing a substantial Credit, large enough to answer all the Occasions of the Nation, both public and private, which is the Wheel whereon all the rest must turn, and whereby, not only the Trade of the Kingdom, but also the Occasions of the Government may be supplied, and the public Debts gradually sunk, by a good Management; and This, I humbly Conceive, cannot be settled any other way, but on a parliamentary Foundation, any Thing less will be too narrow. IN the Year 1696, I made some Essay towards such a Credit, which I then presented to both Houses of Parliament, and have now incerted it in the Appendix, pag. 174. But the Bank of England having about that time furnished his Majesty with a considerable Sum of Money, then very much wanted, for the present payment of the Army, which the Ministry could not otherwise have raised, tho’ they approved of the Projection, were unwilling to disoblige at that Juncture, by setting up any thing like theirs, and so that Matter slept then, as it had ever done, if I had not observed that the famous Mr. Laws had drawn a Scheme from it, for the Service of France, as near as the Constitution of that Kingdom will admit; not that I think it can be lasting, the Foundation being laid on Sand; Yet it hath served the present Occasion, to pay off the Debts of that Nation, by an incredible Stock-job, which must in all probability, end in Confusion and Discontent. NOTHING can support a National Credit, but a steady Government, where the arbitrary Will of a Prince cannot withdraw, or lessen the Security at his Pleasure; and had such a one been then establish’d here, in all probability, we bad been several Millions less in Debt, and not felt that heavy load of Taxes, which hath opprest our Lands, and injur’d our Trade; nor do I think those Debts can be discharged by any other way, private Men now carrying off those Profits, which should sink them by degrees. THE Advantages of a National Bank, and the good Effects it will have, in this Free Government, towards the Lessening our national Incumbrances, will plainly appear, when it is considered, that one hundred Pounds borrowed, will circulate two, besides it self, and thereby reduce the Interest, to one third Part of what is paid to the Lender; but if it circulates three, then to a Quarter, and it may be, to much less, according as a Bank hath Credit, and is found Useful.