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
Seeing then, that nothing but the same Power which first Constituted
this Bank can destroy it, (a Power with whom we Intrust our Lives,
Liberties, and Estates) I cannot see the least Room left for
distrust; for what Advantage can any future Parliament expect by a
design of seizing this Bank, when the Treasure thereof may be drawn
out, whilst they are framing the Law; and the Consequence will be,
the Ruining their own Estates, for which they can promise nothing to
themselves, save the being possest of Empty Papers.
What farther Hazard the Nation can run, must proceed from the Neglect
of the Managers, or the Fraud of under Officers, which, Care in the
First, and Security for the Last, will prevent.
II. The next Thing is to shew the Advantages which _England_ will
reap by Setling the Credit here proposed; whereof some do Immediately
attend it, others are Consequential.
Those which Immediately attend it, are,
1st, The Rate of Interest will hereby be brought lower, to the
Advance of our Lands, and Encouragement of our Trade, by Methods
altogether as Profitable to the Usurer, who will be willing to let
his Money Cheaper, when it shall never lye dead without his Consent,
his Security be unquestionable, and freed from the Charges of
litigious Suits, which so frequently accompany doubtfull Mortgages.
2dly, Both Gentlemen and Traders will hereby be supplied with Money
to serve their Occasions, on such reasonable Security as they are
able to give, when that Security shall be strengthned, by having the
Preheminence above all other Obligations; They may also have liberty
to pay it in by such Proportions, as they can best spare it, when it
shall be equally the Interest of the Bank to receive it so, which
will never want new opportunities to let it out again.
3dly, This Credit will give us an Esteem in Foreign Parts, Draw their
Moneys hither, and consequently their Trade, and thereby their
People, all which will be an Advantage to _England_.
4ly, It will supply the Government with Money to carry on the War on
Moderate Interest, and make its Credit good; whereby the Publick
Revenues will Reach farther to serve its Occasions, and the Ministers
of State be freed from many anxious Thoughts, which now make them
Uneasie.
5ly, It will make Returns from place to place in _England_ both Cheap
and Certain, which will help our Inland Trade, and prevent Robberies,
now too much encouraged by travelling with Money; It will also be
profitable to our Foreign Trade, by bringing Exchanges low in our
favour.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account