The merchant—too much at his mercy, because he cannot provide the money—is forced to consent to the sale; and the goods, being reduced to seventy pipes sound—wine and four unsound (the rest being sunk for filling up), were sold for £13 per pipe the sound, and £3 the unsound, which amounted to £922 together. £ s. d. The cooper’s bill came to 30 0 0 The cellarage a year and a half to 18 0 0 Interests on the bond to 63 0 0 The goldsmith’s men for attendance 8 0 0 Allowance for advance of the money and 74 0 0 forbearance 193 0 0 Principal money borrowed 700 0 0 893 0 0 Due to the merchant 29 0 0 922 0 0 By the moderatest computation that can be, these wines cost the merchant as follows:— _First Cost with Charges on Board_. £ s. d. In Lisbon 15 mille reis per pipe is 1,500 475 0 0 mille reis; exchange, at 6s. 4d. per mille rei Freight to London, then at £3 per ton 150 0 0 Assurance on £500 at 2 per cent. 10 0 0 Petty charges 5 0 0 640 0 0 So that it is manifest by the extortion of this banker, the poor man lost the whole capital with freight and charges, and made but £29 produce of a hundred pipes of wine. One other office of this bank, and which would take up a considerable branch of the stock, is for lending money upon pledges, which should have annexed to it a warehouse and factory, where all sorts of goods might publicly be sold by the consent of the owners, to the great advantage of the owner, the bank receiving £4 per cent. interest., and 2 per cent. commission for sale of the goods. A third office should be appointed for discounting bills, tallies, and notes, by which all tallies of the Exchequer, and any part of the revenue, should at stated allowances be ready money to any person, to the great advantage of the Government, and ease of all such as are any ways concerned in public undertakings. A fourth office for lending money upon land securities at 4 per cent. interest, by which the cruelty and injustice of mortgagees would be wholly restrained, and a register of mortgages might be very well kept, to prevent frauds. A fifth office for exchanges and foreign correspondences. A sixth for inland exchanges, where a very large field of business lies before them.