A Discourse on Trade, and Other Matters Relative to itCary, John
History
A Discourse on Trade, and Other Matters Relative to it
Cary, John
Great Britain -- Commerce -- Early works to 1800; Great Britain -- Commercial policy -- Early works to 1800
That this Bank shall take in what running Cash shall be offered, and
shall give their Notes for it; and shall also allow Interest after the
Rate of ### _per Cent. per Annum_, after the first ### Days, till those
Notes be paid, and shall also pay it again to the Proprietors, or any
Part thereof, when demanded.
That if any Man put in his Money for a Time certain, not less than ###
Months, he shall receive Interest from the Time of paying it in, to the
Time he is Repaid.
That this Bank shall let out any Sum again on reasonable Security, either
Real, Personal, or Goods, receiving Interest after the Rate of ### _per
Cent. per Annum_, till the Borrower shall think fit to pay it in, which
he shall do, by such Parts as will best suit his Occasions, and be
discharged from the Interest of what he so pays, and only pay after the
Rate aforesaid, for so much as doth remain in his Hands.
That Lombards be erected to attend this Bank, for the Benefit of Traders,
under Regulations, which may Encourage Trade.
That for the Benefit of Returns, the Notes given in any one Chamber of
this Bank, shall be demandable in any other, together with the Interest
due till Payment, the Receiver allowing for such Returns after the Rate
of ### for each Hundred Pounds, in the Chamber where he receives his
Money.
That to prevent Counterfeits, all Notes given out at any Chamber, shall
be made payable to ### or Order, and assigned from one to another, each
Assignee to be Warrantee for the Note, both to the Bank, and also to
every later Assignee.
That these Notes shall be taken by the King in all Payments, which will
make them current among the Subjects.
That this Bank do supply the King with all Loans at _per Cent._ Interest
_per Ann._ from the Time of borrowing, to the Time the Money is paid in
again, and that it hath the Taxes, or Funds settled by Act of Parliament,
for its Security.
That all Debts contracted to this Bank, shall be of the same Nature with
Debts contracted to the King, and be first paid out of the Estates of the
Debtors; and that Extents shall lye accordingly.
That an Account be kept of Profit and Loss in each Chamber, together with
the Charges of the Officers, &c. And that it be return’d up every three
Months, as also Accompt Current, to the Grand Chamber in _London_, where
the whole shall be Examined by the Commissioners, and they be liable to
the inspection of the Parliament.
That Registers for Lands be erected in all Countries, &c. where desired,
by Act of Parliament.
That Bills be past on the Bank by such as are appointed to buy for the
Public Use of the Nation, payable at the Time of their Agreement; by
which means every one will endeavour to furnish the Government cheapest,
when their Payments shall be punctual; the King will save a great deal of
Money, paid now for Procuration, Excessive Interest, &c. and the Fleet
and Army will be well paid.
Public-domain text, read in full here on John Shaqi.
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