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
That the Commissioners do once every Year at least, make up the
Accounts depending between the Publick and the Bank, allowing ###
_per Cent._ Interest as before; and make application to the
Parliament for its Reimbursement.
That Bills and Bonds be made Assignable by Law, and the Property be
thereby transfer’d to the Assigne.
That Trustees may put the Money belonging to _Orphans_ into this
Bank, which shall be a discharge to them for so much of their Trust,
the Interest to be duly issued out for the maintenance of the said
_Orphans_; and that all Plate and Bullion belonging to the said
_Orphans_ be by the Trustees Coined up at the next Mint, and the
Money put into the Bank for the use of the said _Orphans_.
That the Money in this Bank be freed from Taxes.
Concerning which Credit I shall briefly speak to these Four Things.
I. First, _Its Security_.
II. Secondly, _Some of those Advantages the Nation will reap by it_.
III. Thirdly, _I shall make some Comparison between this Credit, and
the present Bank of_ England.
IV. Fourthly, _I shall set forth the necessity of setling the Nations
Credit in this present Sessions_.
I. As to the _First_, It hath the Legislative Power of the Kingdom of
_England_ for its Foundation, a Security strong enough, and nothing
else can be so, to build this Great Superstructure upon, the well
Modeling whereof, will keep it from being subject to the Designs of
Private Persons; This will last so long as the Peoples Liberties
last, for no Change can weaken it, so long as the People of _England_
have a hand in making their own Laws, whose Common Interest will be
so Riveted and Made up with the Security of this Bank, that they will
in a short time become one thing, so that nothing less than a
Conquest will be able to shake it; This we cannot fear from any
Nation besides the _French_, nor from them neither, till _Holland_ is
first subdued; therefore, as those States must first truckle, so far
will our Bank be more secure than theirs; _France_ cannot Erect a
Bank on any sort of Security, because, the Will of that Prince being
his Law, alters according to his present Occasions; Nor can _Spain_
do it; where, not only the Government, but also the Profits thereof,
are divided amongst its Ministers; As for _Sweden_, _Denmark_ and
_Portugal_, the Princes of _Italy_ and _Germany_, few believe their
Circumstances to be such, as to Render them capable of Erecting a
Bank, which may draw the Eyes of _Europe_ to look towards it;
_England_ only can do it, for as an easie Government is its own
Security, so that Security encourages Trade, and these two,
accompanied with the Profits offered to a Running Cash, will make all
_Europe_ desire to settle their Moneys here.
Public-domain text, read in full here on John Shaqi.
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