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
Neither the _Bank_, nor the _East-India_ Company, seem fond of the
Project of this _Ingraftment_; and nothing can be argued, but that
Something must be done, at least to amuse People with _vain Hopes_:
Whereas, the true Interest of our _Country_ would have been, to have
laid the _Wound_ open to every one's View; to have shewn the World,
what _Dividend_ could be made out of the _Interest_, and what they might
expect. Then _Foreigners_ would have sat still; for they could no where
else make Five _per Cent._ of _One Hundred Pounds_; and their Money have
remain'd here.
But if we come to make _Dividends_ of Twelve _per Cent._ and by that
means advance the Stock to _Three Hundred_; then those Strangers that
had _Four Millions_ Capital, and receiv'd _Two Hundred Thousand Pounds_
per Ann. will have _Four Hundred and Eighty Thousand Pounds_ per Annum,
and have a _Demand_ of _Twelve Millions_ on you; which will entirely
finish what the late _South-Sea_ Directors so gloriously began.
Is this a Time to endeavour at new _Projects_, when the Nation is at so
low an Ebb; and when the World is ready, on the least Opportunity given,
to put to the _Finishing Stroke_?
It is a certain Topick, That every _Relief_ in the Case of the
_South-Sea_ Company, will be thought an _Injustice_ to some, who cannot
be reliev'd but at the _Expence_ of others. That Way therefore must be
taken, that is most Safe and Equal.
* * * * *
By what has been said, you will easily judge, how little the _poor
Sufferers_ are like to expect from this _New Project_; and that if the
_Success_ attend it that some People hope, it must be the Ruin of the
_Nation_.
You likewise see the _Danger_ there is in _Advancing_ of Stocks above
their Original Capital; and how necessary it is to restrain Corporations
from _Dividing_ more than what their _Original Stock_ will fairly
produce; and that such _Practices_ are destructive to the Commonwealth
of this _Nation_.
Ought not then the _Legislature_ to enter upon speedy _Measures_, and
such as may prevent any _Evil Consequence_ that may happen?
* * * * *
Our Main Business, therefore, is, how to find out _Methods_ to extend
our _Trade_; for _Projects_, and _United Companies_, are only contriv'd
to _enrich_ a few.
We have within our selves, and in _America_, an inexhaustible Fund to
_supply_ our selves, and perhaps _Europe_, with what we are now beholden
to _Foreigners_ for, and that at the Expence of our _Silver_ and _Gold_;
and yet either our _Negligence_, or _private Views_, make us sit still.
But otherwise,
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