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
6ly, The Frauds put on the Country by Counterfeit Notes will be
prevented; for though the method of Indentures and Stained Paper now
used by the Bank of _England_, may be a Security to it self, yet it
is not so to any one else, seeing Art is able to Counterfeit every
thing, at least so like, as not to be easily discover’d: Now, what
Satisfaction will it be to those who have received their Notes
instead of Money, to be told by the Managers that they are
Counterfeit, when they know not where, nor from whom to get
Reparation; whereas being Assigned from Man to Man, they are taken on
the Credit of the Assignor, who runs no other risque thereby, save
his Warrant that they are truly what he pays them for.
7ly, This Bank will be free from Stock-Jobbing, the Bane of all good
Designs, which will find no room here, because it cannot be divided
into private and particular Interests.
The Consequential Advantages will be these,
1st, By this means the Taxes for carrying on the War the ensuing
Year, together with the Twenty five hundred and Sixty four Thousand
Pounds, which fell short on the Salt Fund, may be raised, by Methods,
wherein the Kings Revenue, and the Peoples Profits, shall go hand in
hand, without Anticipations.
2ly, The Funds now setled on our Manufactures, which discourage our
Trade, and Ruin our Poor, may be sunk and taken off; such as those on
the _Glass-makers_, _Tobaccopip-makers_, _Distillers_, and others,
many whereof have yielded little to the Government, above the Charge
of Collecting, and the best of them have done great mischief to our
Trade; Now seeing these are only so many several Modus’s of raising
Money, those methods must doubtless do Best, which least Injure our
Trade.
3ly, The Debt due to the Transport-Ships may be paid off, and those
People, to whose Early Loyalty the Reduction of _Ireland_ is very
much owing, be Contented.
4ly, The Mints may be kept Imployed, and the Kingdom thereby filled
with Coin.
5ly, Our Wooll may be kept at home, which I humbly conceive can never
be done, till a good Credit be settled, any thing less will not be
large enough to cover the Sore Intended to be Cured.
6ly, The Plantation Trade may be better secured, especially that of
Tobacco, and Methods may be proposed to Render it more Profitable,
both to the King, and also to the Subject.
7ly, The Bank of _England_’s Notes may be brought to Par, and
Tallies of all sorts in a short time be paid off at their full Value,
which I humbly conceive will be difficult to be done, any other way,
the settling a Credit on either, or grafting them both together, seem
improbable Methods to answer those ends.
I humbly hope to make Proposals in this present Sessions for putting
these into Practise, if a good Credit be timely setled.
Besides these, many other Advantages will accrue to the Nation, many
of which I have set forth in my before Recited Essay on Coin and
Credit. Pag. 27, 28, 29.
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