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
6ly, The Frauds put on the County, by Counterfeit Notes will be
prevented; for though the Method of Indentures and stained Paper now used
by the Bank of _England_, may be a Security to it self, yet it is not so
to any one else, seeing Art is able to counterfeit every Thing, at least
so like, as not to be easily discover’d: Now, what Satisfaction will it
be to those who have received their Notes instead of Money, to be told by
the Managers that they are counterfeit, when they know not where, nor
from whom to get Reparation; whereas, being Assigned from Man to Man,
they are taken on the Credit of the Assignor, who runs no other risque
thereby, save his Warrant that they are truly what he pays them for.
7ly, This Bank will be free from Stock-Jobbing, the Bane of all good
Designs, which will find no room here, because it cannot be divided into
private and particular Interests.
The Consequential Advantages will be these,
1st, By this means the Taxes for carrying on the War the ensuing Year,
together with the Twenty-five hundred and Sixty-four Thousand Pounds,
which fell short on the Salt Fund, may be raised, by Methods, wherein the
King’s Revenue, and the Peoples Profits, shall go hand in hand, without
Anticipations.
2ly, The Funds now settled on our Manufactures, which discourage our
Trade, and ruin our Poor, may be sunk and taken off; such as those on the
_Glass-makers_, _Tobaccopipe-makers_, _Distillers_, and others, many
whereof have yielded little to the Government, above the charge of
Collecting, and the best of them have done great Mischief to our Trade;
now seeing these are only so many several Modus’s of raising Money,
those Methods must doubtless do best, which least injure our Trade.
3ly, The Debt due to the Transport-Ships may be paid off, and those
People, to whose early Loyalty and Reduction of _Ireland_ is very much
owing, be contented.
4ly, The Mints may be kept Imployed, and the Kingdom thereby filled with
Coin.
5ly, Our Wool may be kept at home, which I humbly conceive can never be
done, till a good Credit be settled, any thing less will not be large
enough to cover the Sore intended to be cured.
6ly, The Plantation Trade may be better secured, especially that of
Tobacco, and Methods may be proposed to render it more profitable, both
to the King, and also to the Subject.
7ly, The Bank of _England_’s Notes may be brought to Par, and Tallies
of all sorts in a short time be paid off at their full Value, which I
humbly conceive will be difficult to be done, any other way, the settling
a Credit on either, or grafting them both together, seem improbable
Methods to answer those ends.
I humbly hope to make Proposals in this present Sessions for putting
these into practise, if a good Credit be timely settled.
Besides these, many other Advantages will accrue to the Nation, many of
which I have set forth in my before recited Essay on Coin and Credit.
Pag. 27, 28, 29.
Public-domain text, read in full here on John Shaqi.
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