AND here I must Refer to the Appendix, for the better Illustrating the Benefit thereof, and the Manner of its Institution, as then Intended, which must now admit of several Alterations.
IF such a Bank were Setled, the Charge of Managing it would be very little, and the Kingdom might grow Richer some Millions every Year, and the Government have an Addition to its Security, by drawing the Cash of other Nations hither, whose Interest would thereby become Interwoven with Ours; and Our Manufactures would be Encouraged, by a Flux of Money, which is the Life of Trade; and This, with the Easiness of our Government, would bring the Monied Men of Europe to Settle here, which would be an Addition to our Wealth; The Trader might hence be Supplied, with such Sums of Money, as he shall want, and for so long time only, as he shall have Occasion to use it; whereby the Fishery, and other Good Undertakings, may be Encouraged, and our Wooll be certainly kept at Home; and the Gentlemen of England may be hence Furnished with Money at the Common Interest, and be Permitted to make their Payments, by such Parts, as they can best spare it; the Want of which is now such a Clog upon their Estates, that it destroys many Good Families; who, when they are once gotten into the Usurers Books, can find no way to get out, till they have Paid the whole Debt at once, so that their Estates are devoured, by Procuration and Continuation.
NOR is it hereby Intended to put a Force upon any Man; ’twill be the Interest of the Lender to put his Money into this Bank, where he hath so certain a Security, and of the Bank to take it in; and on the other Side, it will be the Interest of the Bank to Furnish Money on the Terms here Mentioned, and of the Borrower to Receive it; and this Single thing, will in time bring so great a Profit to the Publick, as will very much Sink the Debts of the Nation, whilst a Common Advantage is Interwoven with it.
NEITHER will this break in on the Priviledges Granted to the Bank of England, by Act of Parliament; for though they are allowed to Lend Money to the Government, on the Terms therein Mentioned, yet the Government hath not bound up it self, from Borrowing of any Others, and making their Payments in such a Manner, as shall be thought most Advantagious to the Nation.