An Essay on the State of England: In Relation to Its Trade, Its Poor, and Its Taxes, for Carrying on the Present War Against France — John Shaqi
An Essay on the State of England: In Relation to Its Trade, Its Poor, and Its Taxes, for Carrying on the Present War Against FranceCary, John
History
An Essay on the State of England: In Relation to Its Trade, Its Poor, and Its Taxes, for Carrying on the Present War Against France
Cary, John
Great Britain -- Commercial policy; Poor -- England
7. By falling the Interest of Money; this would very much quicken Trade,
and indeed is the true Measure of it, the Merchant would be better able
to cope with Competitors abroad in the Manufactures when his Interest did
not eat so deep as now it doth, and the Maker would be enabled to sell
them cheaper at Home; if Interest were fallen 'twould make all Trades
flourish, for whilst we stand not on the same Terms with our Neighbours
herein we must expect to be undersold every where by them; the _Dutch_
pay but Three _per Cent_, and are thereby enabled to Trade so much lower
than we can; the truth is 'tis a shame Money should yield more by being
put to Interest than 'twould do if laid out either in Land or Trade; the
first doth not clear Four _per Cent_, the latter will not bring the
Borrower Five for all his Pains and Industry when the Userer is paid,
whilst the other runs little Risque, and is a Drone in the
_Common-Wealth_; as for Orphans and Widdows, (which is the main Objection
against it) let their Expences be lessened suitable to its Fall, and for
all other People, let them employ their Money in Trade if they think
'twill yield more; And here I judge it not amiss to mention Banks and
Lumbards, which I take to be so many Shops to let out Money, for which
they receive such Security, and for such time, as stands most for the
conveniency of Trade, and therefore the more the better, because every
one will endeavour to underdo another.
[Sidenote: By rectifying the Currant Coin.]
8. By rectifying the Currant Coin of this Kingdom, which is now so
debased that Men rather truck than sell for Money, not knowing whither
the next Man they deal with will take what they just before received for
their Goods; this makes Payments precarious, and _Trade_ uneasie, mony
rising and falling on Men's Hands daily, so that now nothing is more
uncertain than that which should be the Rule of certainty in the value of
all other things.
Public-domain text, read in full here on John Shaqi.
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