A Stiptick for a Bleeding Nation: Or, a safe and speedy way to restore publick credit, and pay the national debtsUnknown
History
A Stiptick for a Bleeding Nation: Or, a safe and speedy way to restore publick credit, and pay the national debts
Unknown
Coinage -- Great Britain -- Early works to 1800; Debts, Public -- Great Britain -- Early works to 1800; South Sea Company
Can all the Corporations in _London_, put together, be so well depended
upon, as the _Exchequer_; which is supported by the _Government_, who
are able and willing to make good all their own Contracts, but are not
answerable for the Losses of any Corporation; all being oblig'd to sit
down and be content with their own?
Can any Corporation desire more, than that the _Government_ compel their
own Members, and their Estates, to make good to answer for their
_Mismanagement_?
Separate then the _Standers-by_ from the _Gamesters_, and let the
Unconcern'd declare their Opinion, Whether, in all Corporations, the
_Directors_ have not an unknown Advantage over all the other Members? Is
it so in the _Exchequer_?
Tell me then, why a Hundred Pound in a Corporation, is more valuable
than a Hundred in the _Exchequer_? Is it not because you can part with
your Property with much more Ease by way of _Transfer_ in _London_?
Which is not practis'd at the _Exchequer_: Besides, the _Transferring_
is near at Hand.
The _Directors_ of any Corporation, if not truly _honest_, may impose at
all Times upon the rest of the _Proprietors_, by making a Dividend above
the intrinsick Value of the Nett Produce of _Profit_; and the
_Legislature_ would do well to provide against such Practices for the
future.
If due Encouragement was given for the Importation of _Iron_, _Hemp_,
_Pitch_ and _Tar_, from our own _Plantations_, the Export of a great
deal of our _Bullion_ would be sav'd, our _Colonies_ encourag'd, and we
should be then able to supply the _Dutch_, _French_, _Spaniard_,
_Italian_ and _Portugueze_ with Iron, and bring in Two Hundred Thousand
Pounds _per Ann._ Balance of Trade.
If the _South-Sea_ Company would trade to our own Islands, _viz._ the
_Bahama_, and to _Carolina_; that Trade alone would bring them in Five
Hundred Thousand Pounds _per Ann._ and with a small Expence, if well
manag'd.
A
PROPOSAL
To Restore _Publick Credit_, and Pay
the _Nation's_ DEBTS.
I. _That the =South-Sea= Company be put in =Statu quo=; and if the
Estates of the late =Directors=, their Aiders and Abettors
will not do it, the =Government= to make up what is wanting._
II. _That the =Subscriptions= at =Three Hundred=, =Four Hundred=,
=Eight Hundred=, and a =Thousand=, be all paid into the
=Exchequer= at =Two Hundred=, and there to have a Credit for
=One Hundred=; for which the =Government= is to pay Ten =per
Cent.= until the =One Hundred= shall be paid off: And that those
who have not paid full =Two Hundred=, do make up that Sum within
the Time limited by the late =Directors=._
Public-domain text, read in full here on John Shaqi.
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