What _prodigious Advantage_ would it be to the _Nation_, to have a _Supply_ from our own _Colonies_ with those _Naval Stores_, which we have now from _Denmark_, _Sueden_ and _Muscovy_; and to save the Expence of so much _Money_ as those Trades cost us, and no longer to be at the Mercy of any _Foreign Prince_? And could we gain a Balance of _Trade_, we may hope to retrieve our selves from all the _Difficulties_ we seem to labour under. But at present, we have not the Balance with any one Nation, except _Portugal_.
Now if this be the Case, it cannot be thought that an _Over-Balance_ there, can answer the _Balance_ that all _Europe_ has against us.
But Luxury in the Use of _Foreign Importations_ being discourag"d, we may reasonably expect to have a _Flourishing Trade_, which will bring Mines of _Gold_ and _Silver_ into our Coffers; all other Arts and Schemes having no _Foundation_, and nothing but _Destruction_.
That _Foreigners_ take the Advantage of us, by the _Rising_ and _Falling_ of our _Stocks_; nor can the _Evil_ be remedied, but by fixing them down at a _certain Price_ that they shall be bought or sold; _viz._ _Bank_-Stock at _One Hundred and Twenty Five_ per Cent. And for that Sum, the said Corporation may divide _Common Interest_, but never more.
That the Surplus of _Profit_ be, to make good the Value of _One Hundred and Twenty Five Pounds_, at the Time the said _Bank_ shall be paid off by the _Government_.
_India_ Stock at _One Hundred and Twenty Five_ per Cent. And that Corporation never to _divide_ more than _Common Interest_ for that Sum: The Remainder of _Profits_ accruing by that Trade be, for the better _Maintenance_ of their _Factories_, and the Extending of their _Trade_ in _India_.
_South-Sea_ Stock at _One Hundred and Twenty Five_ per Cent. (if the said Corporation be put in _Statu quo_) that the said Corporation may never _divide_ more than _Common Interest_: The Remainder to carry on a Trade to such Parts and Places, as shall be thought most advisable, and to establish _Colonies_ for the Good of the Kingdom in general. Or otherwise, _Trade_ and _Industry_ will be discourag"d, and _Luxury_ and _Idleness_ be our Ruin.
The _Hollanders_ are more Political in _Trade_ than we; and they being so near us, and we having with each other so great a _Trade_, and they so largely in our _Stocks_, that unless we have an _Agio_ settled, as they have, (that is, that there be a _Difference_ between the Current Cash and the _Bank_-Money) we shall never preserve our Coin. Nor will Trade ever _flourish_, or Credit _revive_, unless a Liberty be given to all _Bodies Corporate_ and _Collective_ to Transfer as usual.
As the Eyes of all are upon the Parliament of _Great Britain_, greedily expecting a speedy _Settlement_ of _South-Sea_ Stock; how easy is it, and how securely may the _House of Commons_ pa.s.s a Vote, That the _Losses_ of the _South-Sea_ Company shall be made good? For at present the _Stock_ is precarious.
And the same may be said, in some Measure, both of the _East-India_ Company, and the _Bank_: Which strengthens the _Reasons_ against the _Government"s_ trusting any more to _Corporation Credit_.
That _Trade_ cannot easily extend it self in this Kingdom, unless all Corporations are ty"d down from _Dividing_ (I say) more than _Common Interest_. Persons will never go on to encourage _Trade_, so long as a Profit can be made by the frequent _Rise_ and _Fall_ of Stocks, the Bane of all _Industry_.
That unless, I say, a Liberty be given to all _Bodies Corporate_ or _Collective_, to raise Money to carry on and extend the _Trade_ of this Kingdom, can it be thought that _Trade_ will ever increase? And without Liberty be given to all _Bodies Corporate_ and _Collective_, to have a _Book_, wherein every Person may _transfer_ their Properties, such _Bodies_ will be never able to raise Money to carry on a _Trade_, or extend it.
Before I conclude, I shall enlarge a little concerning the _Poor_ of our Country; who will never be brought to Labour, so long as they are maintain"d by the _Parish_, and suffer"d to beg about the Country, or in the Streets.
If _proper Places_ were provided, on _Navigable Rivers_, where Land is reasonable; with good Management, and by the Improvement of those _Lands_, the Expence of our _Poor_ would not be so great by the one Tenth Part of what it is, and what we now pay towards their _Relief_.
And by such a prudent Management, what an _inestimable Benefit_ would it be to this Nation; not only by easing the Subject from that _heavy Burthen_ or _Tax_ to the _Poor_, but by the many other _Advantages_ that thereby the _Publick_ will receive, besides the many Hands that may be employ"d to Profit, more than what is necessary to be appointed for their own and _their Maintenance_?
Such an _Advantage_ would it be to the _Nation_, as would be better to us than the Mines of _Peru_ and _Mexico_ to the _Spanish_ Monarchy. It would introduce _Industry_, reduce _Idleness_ and _Luxury_; encourage and promote the _Trade_ of the Kingdom, increase our _Exports_, and lessen our _Imports_; by providing of Hands useful in making all Sorts of Utensils, for _Army_ and _Navy_, _Soldiers_ and _Sailors_, that, when their Country have no Service for them, they may return to their _Livelihood_ they were bred to, and by their _honest Industry_ find a _Maintenance_.
_FINIS._