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
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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
That this Bank shall take in what running Cash shall be offered, and
shall give their Notes for it; and shall also allow Interest after
the Rate of ### _per Cent. per Annum_, after the first ### days, till
those Notes be paid, and shall also pay it again to the Proprietors,
or any part thereof, when demanded.
That if any Man puts in his Money for a time certain, not less then
### Months, he shall receive Interest from the time of paying it in,
to the time he is repaid.
That this Bank shall let out any Sum again on reasonable Security,
either Real, Personal, or Goods, receiving Interest after the Rate of
### _per Cent. per Annum_, till the Borrower shall think fit to pay
it in, which he shall do, by such Parts as will best suit his
Occasions, and be discharged from the Interest of what he so pays,
and only pay after the Rate aforesaid, for so much as doth remain in
his hands.
That Lombards be Erected to attend this Bank, for the Benefit of
Traders, under Regulations, which may encourage Trade.
That for the Benefit of Returns, the Notes given in any one Chamber
of this Bank, shall be demandable in any other, together with the
Interest due till payment, the Receiver allowing for such Returns
after the Rate of ### for each Hundred pounds, in the Chamber where
he receives his Money.
That to prevent Counterfeits, all Notes given out at any Chamber,
shall be made payable to ### or Order, and Assigned from one to
another, each Assigner to be Warrantee for the Note, both to the
Bank, and also to every later Assignee.
That these Notes shall be taken by the King in all Payments, which
will make them currant among the Subjects.
That this Bank do supply the King with all Loans at ### _per Cent._
Interest _per Ann._ from the time of borrowing to the time the Money
is paid in again, and that it hath the Taxes, or Funds settled by Act
of Parliament, for its Security.
That all Debts Contracted to this Bank, shall be of the same Nature
with Debts Contracted to the King, and be first paid out of the
Estates of the Debtors; and that Extents shall lye accordingly.
That an Account be kept of Profit and Loss in each Chamber, together
with the Charges of the Officers, &c. And that it be return’d up
every Three Months, as also Account Current, to the Grand Chamber in
_London_, where the whole shall be Examined by the Commissioners, and
they be liable to the inspection of the Parliament.
That Registers for Lands be erected in all Counties, &c. where
desired, by Act of Parliament.
That Bills be past on the Bank by such as are appointed to buy for
the Publick Use of the Nation, payable at the time of their
Agreement; by which means every one will endeavour to Furnish the
Government Cheapest, when their payments shall be punctual; the King
will save a great deal of Moneys, paid now for Procuration, Excessive
Interest, &c. and the Fleet and Army will be well paid.
Public-domain text, read in full here on John Shaqi.
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