III. The third Thing is to make some Comparison between the Credit here proposed, and the present Bank of _England_; which I humbly conceive is so shaken in its Reputation, as hath rendred it uncapable to be made the Foundation of a national Credit; and whilst we labour to recover it, we may run the hazard of destroying our Trade, disturbing the Government, and keeping our selves under a lingring War, whilst we encourage the _French_ King, to try his utmost Efforts, hoping, that our Difficulties at home, will force us to accept of a dishonourable Peace. ’Tis certain, nothing can be the Support of a National Credit, which is not better, or at least so good as Money; and this is not to be found in the Bank of _England_, whose Notes whilst they are One _per Cent._ worse than Specie, will always keep their Coffers empty, because no Man will put into it a hundred Pounds in Money, when he can purchase a Note of the same Value for Ninety-nine; and the Consequence will be this, that the Lender, or rather the Jobber, will never rest till he is repaid, that so he may be making advantage by a new Purchase; and if this will be the Effect of a Credit worse only by One _per Cent._ than Money, what will it be when ’tis sunk to sixteen; Whereas, on the other side, when a Credit is better than Money, the Coffers will ever be full, because all Men will endeavour to put in their Money, and be impatient till ’tis done; and thus it will be, when the Lender thinks himself secure, and makes more Profit by having his Money in the Bank then in his Chest, who will therefore receive out no more at a Time, then his Necessities shall require, and for the same Reason, those to whom he pays it, will endeavour to return it thither again so soon as they can.