An Essay Towards Regulating the Trade, and Employing the Poor of This Kingdom: Whereunto is Added, an Essay Towards Paying Off the Publick DebtsCary, John
History
An Essay Towards Regulating the Trade, and Employing the Poor of This Kingdom: Whereunto is Added, an Essay Towards Paying Off the Publick Debts
Cary, John
Great Britain -- Commercial policy; Great Britain -- Economic conditions -- 18th century; Poor -- Great Britain
I now come to discourse of _Ireland_, and of the Trade we
interchangeably drive with that Kingdom, with whom it is necessary to
maintain a good Correspondence, which must be done on such Terms, as
may be profitable to us both; and I think nothing is more likely to
answer this End, than the encouraging the Linnen Manufacture there,
which it is highly our Interest to promote, and theirs to set upon,
being for the most part of another Nature, than what is made either
in the _North_ or _South-Britain_; for, besides the Employment it
will give to their Poor, large Tracts of Land will be taken up for
raising Hemp and Flax, both which thrive well in many Parts of that
Kingdom; on the other hand, the low Labour of _Ireland_ being
employed on that Manufacture, will no way prejudice ours, but make
them better able to trade with us, for such things wherewith they are
supplied hence, it being undoubtedly the Interest of this Kingdom,
that all those Nations we trade with should grow Rich, by any Methods
that do not make us Poor; and more especially _Ireland_, whose
Profits are generally spent here.
But then how shall this Manufacture be carried on? truly the first
Step must be, by furnishing Money on reasonable Interest, and
receiving it again by such Payments as the Borrowers can make, and
buying up the Linnens when made, and then the Landed Men will
encourage it, on their own Estates, and thereby enable their Tenants
to pay their Rents better; Which last Effect it hath already had in
the North of _Ireland_, where by spinning the Yarn in the Winter
Nights, and getting their Cloth ready, and fit for Sale, early in the
Year, they provide for their _May_ Rents, without being constrained
to sell their Cattle whilst they are lean, and their _November_
Payments do not become due, till they are fat, and their Harvest is
over.
Now these Loans must be made, either by a Joint-Stock raised for that
Purpose, or by the Bank of _England_, which will be attended with
good Security; for by reason of the Register settled there by Act of
Parliament, I take the Securities of _Ireland_, to be rather better
than those in _England_: And this way of Lending Money must likewise
be very acceptable to all those whose Estates are under different
Incumbrances, which may by this means be reduced into One, and paid
off, as they can spare the Money by degrees.
Public-domain text, read in full here on John Shaqi.
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