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diff --git a/.gitattributes b/.gitattributes new file mode 100644 index 0000000..6833f05 --- /dev/null +++ b/.gitattributes @@ -0,0 +1,3 @@ +* text=auto +*.txt text +*.md text diff --git a/33946-h.zip b/33946-h.zip Binary files differnew file mode 100644 index 0000000..9be6f2b --- /dev/null +++ b/33946-h.zip diff --git a/33946-h/33946-h.htm b/33946-h/33946-h.htm new file mode 100644 index 0000000..b192ec6 --- /dev/null +++ b/33946-h/33946-h.htm @@ -0,0 +1,1487 @@ +<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN" + "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd"> +<!-- $Id: header.txt 236 2009-12-07 18:57:00Z vlsimpson $ --> + +<html xmlns="http://www.w3.org/1999/xhtml" xml:lang="en" lang="en"> + <head> + <meta http-equiv="Content-Type" content="text/html;charset=iso-8859-1" /> + <meta http-equiv="Content-Style-Type" content="text/css" /> + <title> + The Project Gutenberg eBook of A Stiptick For A Bleeding Nation, by Unknown Author. + </title> + <style type="text/css"> + +body { + margin-left: 10%; + margin-right: 10%; +} + + h1,h2,h3,h4,h5,h6 { + text-align: center; /* all headings centered */ + clear: both; +} + +p { + margin-top: .75em; + text-align: justify; + margin-bottom: .75em; + text-indent: 1em; +} + +hr { + width: 33%; + margin-top: 2em; + margin-bottom: 2em; + margin-left: auto; + margin-right: auto; + clear: both; +} + +.hr2 +{ + width: 90%; + max-width: 32em; + color: white; + background-color: white; + border: none; + border-bottom: 6px double black; + margin: 2em auto; +} + +table { + margin-left: auto; + margin-right: auto; +} + +.pagenum { /* uncomment the next line for invisible page numbers */ + /* visibility: hidden; */ + position: absolute; + left: 92%; + font-size: smaller; + text-align: right; +} /* page numbers */ + +.blockquote { + margin-left: 5%; + margin-right: 10%; +} + +.center {text-align: center; + text-indent: 0em;} + +.smcap {font-variant: small-caps;} + +.figcenter { + margin: auto; + text-align: center; +} + +img.cap { float:left; + margin: 0 0.25em 0 0; + position:relative; } +p.cap_1 { text-indent: 0em; } +div.drop p { margin-bottom:0; } + +div.tnote { + border-style: dotted; + margin-left: 10%; + margin-right: 10%; + padding: 1em; + font-style: normal; + text-align: justify; + background-color: #f6f2f2; +} + +td.cash {text-align: right; + padding-left: 2em; } + + </style> + </head> +<body> + + +<pre> + +The Project Gutenberg EBook of A Stiptick for a Bleeding Nation, by Unknown + +This eBook is for the use of anyone anywhere at no cost and with +almost no restrictions whatsoever. You may copy it, give it away or +re-use it under the terms of the Project Gutenberg License included +with this eBook or online at www.gutenberg.org + + +Title: A Stiptick for a Bleeding Nation + A safe and speedy way to restore publick credit, and pay + the national debts + +Author: Unknown + +Release Date: October 4, 2010 [EBook #33946] + +Language: English + +Character set encoding: ISO-8859-1 + +*** START OF THIS PROJECT GUTENBERG EBOOK A STIPTICK FOR A BLEEDING NATION *** + + + + +Produced by Ernest Schaal and the Online Distributed +Proofreading Team at http://www.pgdp.net (This file was +produced from images generously made available by The +Internet Archive/Canadian Libraries) + + + + + + +</pre> + + +<p class="center">A</p> + +<h1>STIPTICK</h1> + +<p class="center">FOR A</p> + +<h1><i>Bleeding Nation</i>.</h1> + +<p class="center">OR,</p> + +<h2>A Safe and Speedy <span class="smcap">Way</span><br /> +to Restore <i>Publick Credit</i>, and<br /> +Pay the <i>National</i> <span class="smcap">Debts</span>.</h2> + +<hr /> + +<div class="figcenter" style="width: 130px;"> +<img src="images/i001.jpg" width="130" height="100" alt="" title="" /> +</div> + +<hr /> + +<h3><i>LONDON</i>:</h3> + +<h3>Printed for <span class="smcap">J. Roberts</span>, near the<br /> +<i>Oxford-Arms</i> in <i>Warwick-Lane</i>. 1721. +</h3> + +<hr class="hr2"/> + +<p><span class="pagenum">[Pg 1]</span></p> + +<div class="figcenter" style="width: 175px;"> +<img src="images/i003a.jpg" width="175" height="69" alt="" title="" /> +</div> + +<p class="center">A</p> + +<h2>STIPTICK</h2> + +<p class="center">FOR A</p> + +<h2><i>Bleeding Nation</i>.</h2> + +<p class="center">OR,</p> + +<h3>A Safe and Speedy <span class="smcap">Way</span> to Restore<br /> +<i>Publick Credit</i>, and Pay the <i>National</i><br /> +<span class="smcap">Debts</span>.</h3> + +<div class="drop"> +<img src="images/i003b.jpg" alt="D" width="75" height="75" class="cap" /> +<p class="cap_1">O but a little consider, and +you will soon find, <i>Pride</i> and +<i>Luxury</i>, <i>Corruption</i> and <i>Bribery</i>, +are the greatest Causes +of our present Calamities; +and if you do not discourage +the Two first, and punish the Two last Evils, +<span class="pagenum">[Pg 2]</span> +we shall speedily come to Destruction, +and God will blast all our Endeavours.</p> +</div> + +<p>The lively Instance of late, proves to us +the <i>Ruin</i> those Evils carry with them: And +is there not one good Man, that dares +to stem the Tide that is come in upon us, +and save us from being drown'd?</p> + +<p>Is there not one Man that has <i>Honesty</i>, <i>Interest</i> +or <i>Ability</i>, to put in Practice what is so +necessary to <i>preserve</i> their Country?</p> + +<p>Let us shake off then those plaguy Sores +that corrupt our <i>Vitals</i>; and if we intend +to be a Happy and Flourishing People, we +must promote <i>Piety</i>, which admits of no +Corruption; <i>Honesty</i>, that listens to no +Temptation; <i>Sincerity</i>, which never deceives +his Neighbour; <i>Sobriety</i> is the Way to Honour, +and <i>Industry</i> brings Riches, which Frugality +preserves: He therefore that desires +to be <i>truly Great</i>, must possess these Virtues, +and prefer <i>Publick</i> to <i>Private Interest</i>.</p> + +<p>What is the Reason that all Inferior Places +of Profit and Trust are <i>bought</i> and +<i>sold</i>, and true Merit wants its <i>Reward</i>? Is +it not because the <i>Devil</i>, when bought, +will be sold?</p> + +<p>Are not our Exports of <i>Bullion</i> so great, +that, as fast as it arrives, it goes away? +Which the Publick Entries every Week demonstrate. +And were it not for the daily +Supplies from <i>Portugal</i>, we should have +<span class="pagenum">[Pg 3]</span> +nothing but our own <i>Specie</i> to answer all +Demands.</p> + +<p>It is obvious, that One Single Corporation +has put us into this Confusion: And +will the <i>Government</i> again trust to <i>that</i>, or +any other? I should not desire a Friend of +mind to be the <i>Adviser</i>.</p> + +<p>Can all the Corporations in <i>London</i>, put +together, be so well depended upon, as the +<i>Exchequer</i>; which is supported by the <i>Government</i>, +who are able and willing to make +good all their own Contracts, but are not +answerable for the Losses of any Corporation; +all being oblig'd to sit down and be +content with their own?</p> + +<p>Can any Corporation desire more, than +that the <i>Government</i> compel their own Members, +and their Estates, to make good to answer +for their <i>Mismanagement</i>?</p> + +<p>Separate then the <i>Standers-by</i> from the +<i>Gamesters</i>, and let the Unconcern'd declare +their Opinion, Whether, in all Corporations, +the <i>Directors</i> have not an unknown +Advantage over all the other Members? +Is it so in the <i>Exchequer</i>?</p> + +<p>Tell me then, why a Hundred Pound +in a Corporation, is more valuable than +a Hundred in the <i>Exchequer</i>? Is it not because +you can part with your Property +with much more Ease by way of <i>Transfer</i> in +<i>London</i>? Which is not practis'd at the <i>Exchequer</i>: +<span class="pagenum">[Pg 4]</span> +Besides, the <i>Transferring</i> is near at +Hand.</p> + +<p>The <i>Directors</i> of any Corporation, if not +truly <i>honest</i>, may impose at all Times upon +the rest of the <i>Proprietors</i>, by making a +Dividend above the intrinsick Value of the +Nett Produce of <i>Profit</i>; and the <i>Legislature</i> +would do well to provide against such +Practices for the future.</p> + +<p>If due Encouragement was given for the +Importation of <i>Iron</i>, <i>Hemp</i>, <i>Pitch</i> and <i>Tar</i>, +from our own <i>Plantations</i>, the Export of +a great deal of our <i>Bullion</i> would be sav'd, +our <i>Colonies</i> encourag'd, and we should be +then able to supply the <i>Dutch</i>, <i>French</i>, +<i>Spaniard</i>, <i>Italian</i> and <i>Portugueze</i> with Iron, +and bring in Two Hundred Thousand +Pounds <i>per Ann.</i> Balance of Trade.</p> + +<p>If the <i>South-Sea</i> Company would trade +to our own Islands, <i>viz.</i> the <i>Bahama</i>, and to +<i>Carolina</i>; that Trade alone would bring +them in Five Hundred Thousand Pounds <i>per +Ann.</i> and with a small Expence, if well +manag'd.</p> + +<hr class="hr2"/> + +<p><span class="pagenum">[Pg 5]</span></p> + +<p class="center">A</p> + +<h2>PROPOSAL</h2> + +<h3>To Restore <i>Publick Credit</i>, and Pay<br /> +the <i>Nation</i>'s <span class="smcap">Debts</span>.</h3> + + +<blockquote><p>I. <i>That the</i> South-Sea <i>Company be put in +</i> Statu quo; <i>and if the Estates of the +late</i> Directors, <i>their Aiders and Abettors +will not do it, the</i> Government <i>to +make up what is wanting.</i></p> + +<p>II. <i>That the</i> Subscriptions <i>at</i> Three Hundred, +Four Hundred, Eight Hundred, +<i>and a</i> Thousand, <i>be all paid into the</i> +Exchequer <i>at</i> Two Hundred<i>, and there +to have a Credit for</i> One Hundred<i>; +for which the</i> Government <i>is to pay Ten +</i> per Cent. <i>until the</i> One Hundred <i>shall be +paid off: And that those who have +not paid full</i> Two Hundred<i>, do make +up that Sum within the Time limited +by the late</i> Directors<i>.</i></p> + +<p>III. <i>That a Proper Place in</i> London <i>be +appointed to keep a</i> Book<i>, wherein each +Person may be made</i> Debtor <i>and</i> Creditor; +<span class="pagenum">[Pg 6]</span> +<i>and a Duplicate of such</i> Book<i> +to remain in the</i> Exchequer<i>. And that +there may be a</i> Book<i>, wherein every +Person may</i> transfer <i>their Property.</i></p> + +<p>IV. <i>The Debt of</i> Seven Millions, Five +Hundred Thousand Pounds<i>, being forgiven +the</i> South-Sea <i>Company, and they +put in</i> Statu quo <i>by the</i> Government<i>; +the</i> Nation <i>will stand</i> Debtor <i>and</i> Creditor<i> +as followeth:</i> Viz.</p></blockquote> + +<table summary="Debtor - Creditor"> +<tr><td colspan="2" class="center"><span class="smcap">Nation</span> Debtor.</td></tr> +<tr><td><i>To</i> South-Sea <i>Company</i>,</td><td class="cash">11,746,384</td></tr> +<tr><td><i>To Money-Subscribers</i>,</td><td class="cash"> 20,004,000</td></tr> +<tr><td><i>To Redeemable Debts</i>,</td><td class="cash">13,886,486</td></tr> +<tr><td><i>To Unredeemable Debts</i>,</td><td class="cash">12,070,343</td></tr> +<tr><td><i>To Interest</i>,</td><td class="cash"> __________</td></tr> +<tr><td></td><td></td></tr> +<tr><td colspan="2" class="center"><span class="smcap">Nation</span> Creditor.</td></tr> +<tr><td><i>By a Moiety of the Money-Subscribers</i>,</td><td class="cash">10,002,000</td></tr> +<tr><td><i>By</i> Ditto <i>Redeemable Debts</i>,</td><td class="cash">6,993,247</td></tr> +<tr><td><i>By</i> Ditto <i>Unredeemable Debts</i>,</td><td class="cash">6,035,178</td></tr> +<tr><td></td><td class="cash">__________</td></tr> +<tr><td></td><td class="cash">23,030,425</td></tr> +</table> +<p><span class="pagenum">[Pg 7]</span>The <i>Government</i> is only to pay Ten <i>per +Cent.</i> for the Sum of <i>Twenty Three Millions, +Thirty Thousand, Four Hundred Twenty +Five Pounds</i>. The <i>South-Sea</i> Company being +in <i>Statu quo</i>, are to receive an Interest +as the <i>Act</i> directed before the last <i>Settlement</i>.</p> + +<p>The other Moiety will enable the <i>Government</i> +to make good the <i>Deficiency</i> (if +any) to the <i>South-Sea</i> Company, to forgive +them the <i>Seven Millions, Five Hundred +Thousand Pounds</i>, pay the <i>Interest</i> due from +the <i>Government</i> and clear a great Part of +the <i>Principal Debt</i>.</p> + +<p>The <i>Scheme</i>, as before-mention'd, will restore +our <i>Credit</i>, and pay Part of our <i>Debt</i>; +but if we intend to pay the Remainder, we +must endeavour to be at a <i>Par</i> with our +Neighbours in Trade: And if they outdo +us in Policy therein, and we do not strive +to follow their <i>Methods</i>, we must expect in +the End to be the Losers, and never to have +a Balance.</p> + +<p>We ought to consult those Methods that +will increase our <i>Exports</i>, and lessen the <i>Importation</i> +of such Goods as takes away our +<i>Bullion</i>, and prevent our <i>Coin</i> from being +exported, in the best Manner we can.</p> + +<hr /> + +<p>Now, Sir, you having consider'd the +<i>Proposal</i>, and what has been previously +maintain'd give me Leave to ask you a +few Questions: <i>Viz.</i></p> + +<p><span class="pagenum">[Pg 8]</span>1. Whether the Corporation of the <i>South-Sea</i> +Company, if they could be sure that +the <i>Government</i> would forgive them the +Debt of <i>Seven Millions, Five Hundred +Thousand Pounds</i>, and put them in <i>Statu +quo</i>, (that is, in the Condition they were +in when Stock was at <i>One Hundred Twenty +Five</i>) would not they readily embrace the +<i>Offer</i>?</p> + +<p>2. Whether either the <i>South-Sea</i> Company, +the Bank of <i>England</i>, or the <i>East-India</i> +Company, desire the <i>Ingraftment</i> propos'd +by Parliament?</p> + +<p>3. Whether a more equal Distribution +of <i>Loss</i> can be made, to please all Parties, +especially the major Part; or who will be +the greatest <i>Loser</i> by the <i>Proposal</i> herein +mention'd?</p> + +<p>One great Calamity is the Loss of <i>Paper +Credit</i>, on which our <i>Trade</i> chiefly depended: +We find already a great Decay, which +will soon be more apparent. We have indeed +at present too little <i>Cash</i>, and too little +<i>Credit</i>, to support <i>Trade</i>; and if we +do not take other <i>Methods</i> than what has +been yet practis'd, it will be entirely lost.</p> + +<p>It is the Prudence of a <i>Government</i>, to +establish <i>Credit</i> on the most solid Foundation; +<span class="pagenum">[Pg 9]</span> +and what can be so solid as a <i>Parliamentary +Security</i>? Will the <i>Government</i> be +trusted with any future Loans, if their +Debts are settled upon a <i>precarious Bottom</i>? +And are <i>Corporation-Pillars</i> a good Foundation?</p> + +<p>The <i>Method</i> already propos'd, is seemingly +calculated for the Service of <i>Stock-Jobbing</i>, +and a Parcel of <i>I know not who</i>, +(<i>Sharpers</i>,) to reap the Benefit of it: +And if so, the <i>Nation</i> will be utterly ruin'd. +For God's Sake, then, let us not run +any more <i>Hazards</i>, but prudently take +such <i>Measures</i> as are most safe and advantageous.</p> + +<p>If the <i>Government</i> will forgive the <i>South-Sea</i> +Company the Debt of <i>Seven Millions, +Five Hundred Thousand Pounds</i>, and put +them in <i>Statu quo</i>; they ought to sit +down contented, and be easy and thankful.</p> + +<p>If the present <i>Scheme</i> gives the Subscribers +but <i>Twenty Five Pounds</i> Capital Stock +for a <i>Hundred</i>, and the <i>Government</i> will +give such Subscribers <i>Fifty Pounds</i> for a +<i>Hundred</i>, I hope they will have no Reason +to complain.</p> + +<p>For should the <i>Subscriptions</i> be ty'd down +to <i>Four Hundred</i>, Thousands of Families +will be ruin'd.</p> + +<p><span class="pagenum">[Pg 10]</span> +If we consider the Debt we owe to <i>Foreigners</i>, +and how they, on the <i>Advance +of Stocks</i>, drain us of our Money; we +shall find it very dangerous to suffer <i>Stocks</i> +to be sold above the intrinsick Value.</p> + +<p>If Common Interest be reduc'd to Four +<i>per Cent.</i> as was intended; what <i>Proprietor</i> +can say he shall be a Loser? Setting +aside the <i>Subscriptions</i> and <i>Stock</i>, bought +and sold at extravagant Prices; which is +impossible to redress, without making a far +greater Number of Sufferers.</p> + +<p>Will the <i>Proposal</i> of Tying down the +<i>Subscribers</i> at <i>Four Hundred</i>, give a +greater Interest than Ten <i>per Cent.</i> for +the Capital? And what will the Capital +be, when paid off? Will that be more than +<i>Twenty Five Pounds</i> for a <i>Hundred</i>? Does +not this <i>Proposal</i> give <i>Fifty Pounds</i> for <i>One +Hundred</i>, with a double Advantage to all; +and at the same Time pays a great Part of +our Debt, and settles our Credit on a solid +Foundation?</p> + +<p>A Nation cannot flourish without <i>Virtue</i>; +nor <i>Virtue</i> without <i>good Conscience</i>. +Sudden Ways of <i>growing rich</i>, must be +ruinous to the <i>Publick</i>: There are of late +those who have too suddenly got vast Estates, +and others as soon stripp'd of great Fortunes.</p> + +<p><span class="pagenum">[Pg 11]</span> +<i>Industry</i> is therefore the true natural Way +to Wealth, as <i>Idleness</i> is to Poverty. Riches +cannot be honestly got without <i>Industry</i>, +therefore it ought to be encourag'd, and +all <i>idle Persons</i> made to work; and such as +will not work, ought to be serv'd as they +are in <i>Holland</i>, that is, exercis'd with the +<i>Pump</i>.</p> + +<p>Has not the easy Way of getting Money +prevented the <i>South-Sea</i> Company from +Carrying on <i>their Trade</i>, and the <i>Fishery</i>, +that Noble and Profitable Branch; which +if they would heartily set their Shoulders +to, they might increase their Stock a Hundred +<i>per Cent.</i> and not set it above its intrinsick +Value? And our <i>Poor</i> being very +numerous, all of 'em may be provided for +that way.</p> + +<p>Our <i>Trade</i> has decay'd ever since we +have promoted <i>Stock-Jobbing</i>, that easy +Way of getting Money: Our <i>Manufactories</i> +have diminish'd; which have increas'd +our <i>Poor</i>, and lessen'd our <i>Imports</i> and <i>Exports</i>; +and the King, in Time, will lose +his <i>Customs</i>.</p> + +<p>I shall offer some few Heads, necessary +to promote <i>Trade</i>, and to put us in a +Way speedily to pay our <i>Debts</i>, and prevent +<i>Stock-Jobbing</i>, or else <i>Trade</i> can never +flourish.</p> + +<p><span class="pagenum">[Pg 12]</span> +We must <i>Recoin</i> our Money, and make +the <i>Agio</i> so large, as will prevent its +being exported; and thereby hinder the +<i>East-India</i> Company from purchasing <i>Bullion</i> +in <i>Holland</i>: For if they are suffer'd to +buy <i>Bullion</i> there, we had better by the +Half give them free Liberty to export our +Coin, unless the <i>Exchange</i> is Eight <i>per Cent.</i> +in our Favour, (which is now so much to +the contrary) we shall at all Times be +Losers. By which it appears, how great +Losers we are at present, by not making +our Coin of a Value, as it may be exported +without Damage to the Nation.</p> + +<p>Our <i>Government</i> may have <i>Bullion</i> in +Plenty, if they will be the Merchant for +that Commodity, and give but a small +Matter more for it than our Neighbours; +which we may very well afford to do, if +we settle a like <i>Agio</i>.</p> + +<hr /> + +<p>One great Help to <i>Trade</i> in the Nation, +would be to have <i>Sixpences</i> (nay, even +<i>Shillings</i>) coined with a much greater Allay +than our present Coin; as also <i>Groats</i>, +<i>Three-pences</i>, and <i>Twopenny Pieces</i>: The +Government would receive such a Benefit +thereby, as cannot be well here express'd. +And I dare answer to find a <i>Method</i>, with +fine Copper so intermix'd with Silver, that +<span class="pagenum">[Pg 13]</span> +it shall not be worth any Person's Time, +Trouble and Hazard, to counterfeit it.</p> + +<p>Our Silver being coined with so great an +<i>Allay</i> as will prevent its being exported, +will in a short Time cause a Currency of +<i>Cash</i>: The <i>Gentry</i> will not hoard it; whereby +<i>Traders</i> will be better paid, and our +<i>Manufactures</i> encourag'd, and carry'd on +to a greater Degree.</p> + +<p>I remember when there was a great deal +of <i>Clipt</i> and <i>Counterfeit Money</i>, and very +Plenty of both, that every one that had +either a Counterfeit Piece, or Money that +was cut very small, always studied what to +<i>buy</i> with it, that they might pass the one +away, or part with the other.</p> + +<p>The Difference to the <i>East-India</i> Company, +in buying <i>Bullion</i>, or <i>Pieces of Eight</i>, +in <i>Holland</i>, is Seven or Eight <i>per Cent.</i> +more than what it stands them in when +they can be supply'd with it at Home; and +if they were prohibited the <i>Exportation</i> of +<i>Bullion</i> from <i>Foreign Countries</i>, and suffer'd +to export our own <i>Coin</i>, or such Ingots as +shall have the <i>Tower-Mark</i>, our <i>Government</i> +would have the Advantage which the +<i>Dutch</i> now gain, and no Loss to the <i>East-India</i> +Company. For it will be then equally +the same to them, whether they export it +from hence, or from <i>Holland</i>, to <i>India</i>.</p> + +<p><span class="pagenum">[Pg 14]</span> +There is no other Way of preventing +our <i>Bullion</i> and <i>Silver</i> being carry'd out of +the Land, but by the Prohibition of the +one, by paying a Difference to the <i>Government</i>; +<i>viz.</i> such a Difference as comes +pretty near to what is lost by <i>Remittances</i>; +and suffering the other (<i>viz.</i> our <i>Crowns</i> +and <i>Half-Crown Pieces</i>, coin'd with a proportionable +Allay) to be exported. All +which would help to pay off the <i>Nation's +Debts</i>, and make us a Flourishing People.</p> + +<p>Our <i>Half-Crowns</i> and <i>Crowns</i> being recoined +to such a Standard, I say, would be +of equal Advantage to the <i>East-India</i> Company, +whether they exported <i>Bullion</i> or +<i>Pieces of Eight</i>, from hence or from <i>Holland</i>: +For by the Bank of <i>Holland</i>, or +rather <i>Amsterdam</i>, all <i>Exchanges</i> are chiefly +govern'd; and as the <i>Hollanders</i> are the +nearest concern'd with us in <i>Trade</i>, so by +them we are to regulate and proportion +the Difference between our <i>Bank-Money</i> +and our Current Cash.</p> + +<hr /> + +<p>The Bank of <i>England</i> is establish'd upon +the Standard of our present <i>Coin</i>: Let +it so remain, till the <i>Government</i> sees fit +to alter, or pay them off; and let <i>Bills of +Exchange</i> be paid <i>in Banco</i>, or, if they so +<span class="pagenum">[Pg 15]</span> +please, in Current Cash; the Difference or +<i>Agio</i> to be allow'd in like manner as they +do in <i>Holland</i>.</p> + +<p>There has been a considerable Profit +made, by <i>Melting down</i> and <i>Exporting</i> our +own Coin; and there will always be those +that will do it, tho' punish'd with Death, +as in <i>Portugal</i>. And where there is a +great Loss in Melting down, or Exporting +the <i>Current Coin</i>, tho' there is no <i>Penalty</i>, +the Money will be preserv'd; as in +<i>Holland</i>.</p> + +<p>Let the Merchant have a <i>Profit</i> in +carrying Gold and Silver to the <i>Mint</i> to +be coined, or there will little or none go +there: But if the Merchant finds a <i>Profit</i> +(tho' small) in the Coinage, there will +be great Quantities coined.</p> + +<p>That they who act with the greatest +<i>Prudence</i> and <i>Honour</i>, and have most Money, +will always have most Credit; this +needs no Proof.</p> + +<p>While our <i>Money</i>, which is the Blood +of the <i>Body Politick</i>, is suffer'd to run out, +and there is no Supply, all <i>Projects</i> for +restoring <i>Credit</i>, and keeping up the Spirits +of the <i>People</i>, will prove abortive. +<i>Trade</i>, and the Noblest Undertakings for +Employing the <i>Poor</i>, must be at a full +Stop, if Money be wanting to carry +them on.</p> + +<p><span class="pagenum">[Pg 16]</span> +'Tis certain, that until we have a greater +Plenty of Money, <i>Trade</i> and all other Business +must be assisted with <i>Paper Credit</i>; +and if it does not receive Voluntary Credit, +it will never be made by Force. And +if our Affairs are rightly managed, our +Estates are doubled, and secur'd; if not, +the best Estates will soon be worth nothing.</p> + +<p>That <i>Paper Credit</i> may have an immediate +Currency, it is necessary for the <i>Exchequer</i> +to issue out as many <i>Notes</i> as they +shall be able to circulate, with a <i>Tax</i> of a +<i>Guinea</i> on every <i>Transfer</i>; the one Half +to be paid by the <i>Buyer</i>, and the other by +the <i>Seller</i>.</p> + +<p>That those <i>Bills</i> be to discharge the +Debts due and owing by the <i>Government</i>: +And that the said <i>Bills</i> be circulated in +<i>London</i>.</p> + +<p>Some make a mighty Noise, that if our +<i>Coin</i> be raised, <i>Foreigners</i> will not take it. +I answer, For that Reason we ought to +raise it. If we are to pay <i>Foreigners</i> any +Thing upon the Balance of an Accompt, +we ought to pay them as near as we can in +their own Coin.</p> + +<p>That no Person (under severe <i>Penalty</i>) +presume to raise the <i>Price</i> of any Thing, +on Account of the Alteration of the <i>Coin</i>; +<span class="pagenum">[Pg 17]</span> +otherwise the <i>Name</i> is only alter'd, and +not the <i>Value</i> of our Coin: There being +as much Reason for the <i>Parliament</i> to put +a <i>Value</i> thereon, as for a <i>Goldsmith</i> to do it +on wrought Plate.</p> + +<p>But the first Care to be taken, is, How +the <i>Nation</i> may prevent any Advance in +<i>South-Sea</i> Stock above what it was before; +so that <i>Foreigners</i> concern'd may not receive +a <i>greater Principal</i> than a Hundred +Pound, and Five <i>per Cent.</i> as they did before +this unhappy <i>Ingraftment</i>: For the +Stock, by the said <i>Ingraftment</i>, will be of +such a Magnitude, that a Hundred <i>per +Cent.</i> Advance will, in all Probability, give +the Strangers such a Capital, as will amount +to more than the whole <i>Cash</i> of +the Kingdom.</p> + +<p>The <i>Foreigners</i> have taken an Alarm +since our late <i>unhappy Mismanagement</i>; +and are only waiting for some <i>New Project</i>, +to sell out, and strip us entirely: So +that if we will consider our own <i>Preservation</i>, +we must rather <i>depretiate</i> our Stocks, +than seek Means to <i>augment</i> them.</p> + +<p>It is a receiv'd Maxim, <i>Salus Populi Suprema +Lex esto</i>: This I take to be meant +of the <i>whole Body</i>, not of some Parts of +the <i>People</i>. And tho' <i>Thousands</i> may suffer, +yet it is a receiv'd Rule, That the +<span class="pagenum">[Pg 18]</span> +<i>Whole</i> is first to be consider'd, when it +comes in Competition with any <i>Parts</i>.</p> + +<p>Therefore, in our present Case, the <i>Whole</i> +is to be consider'd; and the <i>Preservation</i> +of that, is to weigh down against all the +Hardships that may happen to <i>Particulars</i>.</p> + +<p>Now, if this Maxim stands good, it is +the Obligation of every true Lover of his +<i>Country</i>, to have that in View; and not, +from a Regard to <i>Particulars</i>, run the Hazard +of sacrificing the <i>Whole</i>. Their <i>Misfortunes</i> +ought to have no Weight, nor any +<i>Contrivance</i> to ease them, prevail, in Balance +with our <i>Country</i>.</p> + +<p>Our late <i>Project</i>, if it could have been +held up, would have created such a <i>Luxury</i>, +that that very Thing alone would have +undone the <i>Nation</i>, and would have sunk +us; tho' not with such a <i>Rapidity</i>, as the +Way which we have now in some measure +escap'd.</p> + +<hr /> + +<p>The <i>Matter</i> standing in this Light, the +only View is the <i>Benefit</i> of our <i>Country</i>.</p> + +<p>The <i>Body Politick</i> is very weak, and requires +an honest and able <i>Physician</i>; and +where to find him, is the only Thing in +Question.</p> + +<p><span class="pagenum">[Pg 19]</span> +Let us consider, whether this design'd +<i>Ingraftment</i> of <i>Nine Millions</i> into the <i>Bank</i>, +and <i>Nine Millions</i> into the <i>East-India</i> Company, +will prove any real Benefit to the +<i>Nation</i> as a <i>Nation</i>? No surely, that cannot +be pretended; but only, that they making +greater Dividends, may be of Service +to <i>Individuals</i>; and yet that is much to be +doubted.</p> + +<p>For as to the <i>Bank</i>, the Capital was too +big before to render any great <i>Advance</i>: +And had it not been for a new Practice, +first begun by the <i>South-Sea</i> Company, of +Lending Money on their <i>Stock</i>; had it not +been, I say, for their imitating (tho' with +Caution) that <i>infamous Practice</i>, their Dividends +would have been reduc'd to <i>Seven +per Cent.</i> or under.</p> + +<p>And for the <i>East-India</i> Company, their +<i>Trade</i> is so far extended, especially at this +Juncture, when they are forc'd to <i>over-trade</i> +themselves, in order to ruin the <i>Ostenders</i>, +that it's look'd on already as a +<i>Grievance</i>: And yet by adding <i>Nine Millions</i>, +they must divide <i>Four Hundred and +Fifty Thousand Pounds</i> Profit more than +before. And notwithstanding their <i>Trade</i> +(as I said before) was then a <i>Grievance</i>; +to what an Extension must it be driven +now, to <i>divide</i> such a Profit; when hitherto +<span class="pagenum">[Pg 20]</span> +they never <i>divided</i> above <i>One Hundred +and Sixty Thousand Pounds</i> a Year +Profit?</p> + +<p>But will it not be a Second <i>Injustice</i> to +the <i>Annuitants</i>, after so great a <i>Diminution</i> +of their Estates, to have <i>Two Thirds</i> of it +<i>ingrafted</i> on a <i>precarious Bottom</i>? All +Stocks having been suffer'd to divide above +the Value of the <i>Nett Produce</i> of their Capital; +a sure Way to distress <i>Trade</i>: Especially +when Corporations are suffer'd to +issue out <i>Bonds</i>, without Trading with the +<i>Money</i>, but purely to advance their <i>Stock</i>.</p> + +<p>The <i>Two Ingraftments</i> are brought in, +in order to help the <i>Proprietors</i>, by Advantages +of <i>Dividends</i>, to a greater Income +than the Stock could make, if retain'd in +the <i>South-Sea</i>; and so to raise the Nominal +Price of Stock. Whether it will do +the former, is a Doubt; but if so, the +Stock had better been kept where it was; +and if the latter, it will be only a <i>New +Bubble</i>, to ruin us.</p> + +<p>Neither the <i>Bank</i>, nor the <i>East-India</i> +Company, seem fond of the Project of this +<i>Ingraftment</i>; and nothing can be argued, +but that Something must be done, at least +to amuse People with <i>vain Hopes</i>: Whereas, +the true Interest of our <i>Country</i> would +have been, to have laid the <i>Wound</i> open +to every one's View; to have shewn the +<span class="pagenum">[Pg 21]</span> +World, what <i>Dividend</i> could be made out +of the <i>Interest</i>, and what they might expect. +Then <i>Foreigners</i> would have sat +still; for they could no where else make +Five <i>per Cent.</i> of <i>One Hundred Pounds</i>; and +their Money have remain'd here.</p> + +<p>But if we come to make <i>Dividends</i> of +Twelve <i>per Cent.</i> and by that means advance +the Stock to <i>Three Hundred</i>; then +those Strangers that had <i>Four Millions</i> Capital, +and receiv'd <i>Two Hundred Thousand +Pounds</i> per Ann. will have <i>Four Hundred +and Eighty Thousand Pounds</i> per Annum, +and have a <i>Demand</i> of <i>Twelve Millions</i> on +you; which will entirely finish what the +late <i>South-Sea</i> Directors so gloriously +began.</p> + +<p>Is this a Time to endeavour at new <i>Projects</i>, +when the Nation is at so low an +Ebb; and when the World is ready, on the +least Opportunity given, to put to the <i>Finishing +Stroke</i>?</p> + +<p>It is a certain Topick, That every <i>Relief</i> +in the Case of the <i>South-Sea</i> Company, +will be thought an <i>Injustice</i> to some, who +cannot be reliev'd but at the <i>Expence</i> of +others. That Way therefore must be taken, +that is most Safe and Equal.</p> + +<hr /> + +<p>By what has been said, you will easily +judge, how little the <i>poor Sufferers</i> are +<span class="pagenum">[Pg 22]</span> +like to expect from this <i>New Project</i>; and +that if the <i>Success</i> attend it that some People +hope, it must be the Ruin of the +<i>Nation</i>.</p> + +<p>You likewise see the <i>Danger</i> there is +in <i>Advancing</i> of Stocks above their Original +Capital; and how necessary it is to +restrain Corporations from <i>Dividing</i> more +than what their <i>Original Stock</i> will fairly +produce; and that such <i>Practices</i> are destructive +to the Commonwealth of this +<i>Nation</i>.</p> + +<p>Ought not then the <i>Legislature</i> to enter +upon speedy <i>Measures</i>, and such as may +prevent any <i>Evil Consequence</i> that may +happen?</p> + +<hr /> + +<p>Our Main Business, therefore, is, how +to find out <i>Methods</i> to extend our <i>Trade</i>; +for <i>Projects</i>, and <i>United Companies</i>, are +only contriv'd to <i>enrich</i> a few.</p> + +<p>We have within our selves, and in <i>America</i>, +an inexhaustible Fund to <i>supply</i> our +selves, and perhaps <i>Europe</i>, with what we +are now beholden to <i>Foreigners</i> for, and +that at the Expence of our <i>Silver</i> and +<i>Gold</i>; and yet either our <i>Negligence</i>, or +<i>private Views</i>, make us sit still. But otherwise,</p> + +<p>What <i>prodigious Advantage</i> would it be +to the <i>Nation</i>, to have a <i>Supply</i> from our +<span class="pagenum">[Pg 23]</span> +own <i>Colonies</i> with those <i>Naval Stores</i>, +which we have now from <i>Denmark</i>, <i>Sueden</i> +and <i>Muscovy</i>; and to save the Expence +of so much <i>Money</i> as those Trades +cost us, and no longer to be at the Mercy +of any <i>Foreign Prince</i>? And could we gain +a Balance of <i>Trade</i>, we may hope to retrieve +our selves from all the <i>Difficulties</i> we +seem to labour under. But at present, we +have not the Balance with any one Nation, +except <i>Portugal</i>.</p> + +<p>Now if this be the Case, it cannot be +thought that an <i>Over-Balance</i> there, can +answer the <i>Balance</i> that all <i>Europe</i> has +against us.</p> + +<p>But Luxury in the Use of <i>Foreign Importations</i> +being discourag'd, we may reasonably +expect to have a <i>Flourishing Trade</i>, +which will bring Mines of <i>Gold</i> and <i>Silver</i> +into our Coffers; all other Arts and Schemes +having no <i>Foundation</i>, and nothing but <i>Destruction</i>.</p> + +<p>That <i>Foreigners</i> take the Advantage of +us, by the <i>Rising</i> and <i>Falling</i> of our <i>Stocks</i>; +nor can the <i>Evil</i> be remedied, but by fixing +them down at a <i>certain Price</i> that they +shall be bought or sold; <i>viz.</i> <i>Bank</i>-Stock +at <i>One Hundred and Twenty Five</i> per Cent. +And for that Sum, the said Corporation +may divide <i>Common Interest</i>, but never +more.</p> + +<p><span class="pagenum">[Pg 24]</span> +That the Surplus of <i>Profit</i> be, to make +good the Value of <i>One Hundred and Twenty +Five Pounds</i>, at the Time the said <i>Bank</i> +shall be paid off by the <i>Government</i>.</p> + +<p><i>India</i> Stock at <i>One Hundred and Twenty +Five</i> per Cent. And that Corporation never +to <i>divide</i> more than <i>Common Interest</i> +for that Sum: The Remainder of <i>Profits</i> +accruing by that Trade be, for the better +<i>Maintenance</i> of their <i>Factories</i>, and the Extending +of their <i>Trade</i> in <i>India</i>.</p> + +<p><i>South-Sea</i> Stock at <i>One Hundred and +Twenty Five</i> per Cent. (if the said Corporation +be put in <i>Statu quo</i>) that the +said Corporation may never <i>divide</i> more +than <i>Common Interest</i>: The Remainder to +carry on a Trade to such Parts and Places, +as shall be thought most advisable, and to +establish <i>Colonies</i> for the Good of the Kingdom +in general. Or otherwise, <i>Trade</i> and +<i>Industry</i> will be discourag'd, and <i>Luxury</i> +and <i>Idleness</i> be our Ruin.</p> + +<hr /> + +<p>The <i>Hollanders</i> are more Political in +<i>Trade</i> than we; and they being so near +us, and we having with each other so +great a <i>Trade</i>, and they so largely in our +<i>Stocks</i>, that unless we have an <i>Agio</i> settled, +as they have, (that is, that there be a <i>Difference</i> +between the Current Cash and the +<span class="pagenum">[Pg 25]</span> +<i>Bank</i>-Money) we shall never preserve our +Coin. Nor will Trade ever <i>flourish</i>, or Credit +<i>revive</i>, unless a Liberty be given to all +<i>Bodies Corporate</i> and <i>Collective</i> to Transfer +as usual.</p> + +<hr /> + +<p>As the Eyes of all are upon the Parliament +of <i>Great Britain</i>, greedily expecting +a speedy <i>Settlement</i> of <i>South-Sea</i> Stock; +how easy is it, and how securely may the +<i>House of Commons</i> pass a Vote, That the +<i>Losses</i> of the <i>South-Sea</i> Company shall be +made good? For at present the <i>Stock</i> is +precarious.</p> + +<p>And the same may be said, in some Measure, +both of the <i>East-India</i> Company, and +the <i>Bank</i>: Which strengthens the <i>Reasons</i> +against the <i>Government</i>'s trusting any more +to <i>Corporation Credit</i>.</p> + +<p>That <i>Trade</i> cannot easily extend it self +in this Kingdom, unless all Corporations +are ty'd down from <i>Dividing</i> (I say) more +than <i>Common Interest</i>. Persons will never +go on to encourage <i>Trade</i>, so long as a +Profit can be made by the frequent <i>Rise</i> +and <i>Fall</i> of Stocks, the Bane of all <i>Industry</i>.</p> + +<p>That unless, I say, a Liberty be given +to all <i>Bodies Corporate</i> or <i>Collective</i>, to raise +Money to carry on and extend the <i>Trade</i> +of this Kingdom, can it be thought that +<span class="pagenum">[Pg 26]</span> +<i>Trade</i> will ever increase? And without +Liberty be given to all <i>Bodies Corporate</i> +and <i>Collective</i>, to have a <i>Book</i>, wherein +every Person may <i>transfer</i> their Properties, +such <i>Bodies</i> will be never able to raise Money +to carry on a <i>Trade</i>, or extend it.</p> + +<hr /> + +<p>Before I conclude, I shall enlarge a little +concerning the <i>Poor</i> of our Country; who +will never be brought to Labour, so long +as they are maintain'd by the <i>Parish</i>, and +suffer'd to beg about the Country, or in +the Streets.</p> + +<p>If <i>proper Places</i> were provided, on <i>Navigable +Rivers</i>, where Land is reasonable; +with good Management, and by the Improvement +of those <i>Lands</i>, the Expence +of our <i>Poor</i> would not be so great by the +one Tenth Part of what it is, and what +we now pay towards their <i>Relief</i>. And +by such a prudent Management, what an +<i>inestimable Benefit</i> would it be to this +Nation; not only by easing the Subject +from that <i>heavy Burthen</i> or <i>Tax</i> to the +<i>Poor</i>, but by the many other <i>Advantages</i> +that thereby the <i>Publick</i> 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 <i>their +Maintenance</i>?</p> + +<p><span class="pagenum">[Pg 27]</span> +Such an <i>Advantage</i> would it be to the +<i>Nation</i>, as would be better to us than the +Mines of <i>Peru</i> and <i>Mexico</i> to the <i>Spanish</i> +Monarchy. It would introduce <i>Industry</i>, +reduce <i>Idleness</i> and <i>Luxury</i>; encourage and +promote the <i>Trade</i> of the Kingdom, increase +our <i>Exports</i>, and lessen our <i>Imports</i>; +by providing of Hands useful in making +all Sorts of Utensils, for <i>Army</i> and +<i>Navy</i>, <i>Soldiers</i> and <i>Sailors</i>, that, when their +Country have no Service for them, they +may return to their <i>Livelihood</i> they were +bred to, and by their <i>honest Industry</i> find a +<i>Maintenance</i>.</p> + +<h2><i>F I N I S.</i></h2> + +<div class="figcenter" style="width: 121px;"> +<img src="images/i029.jpg" width="121" height="95" alt="" +title="" /> +</div> + +<hr /> + +<div class="tnote"><h2>Transcriber's Notes:</h2> + +<p>Obsolete spellings of words (e.g., publick, intrinsick, nett, Portugueze, +allay, accompt, depretiate, etc.) have been retained; long s has been transcribed as modern round s.</p> + +<p>On page 7, "maintain d" was replaced with "maintain'd".</p> + +<p>On page 8, "Ingraffment" was replaced with "Ingraftment", to make it +consistent with other usage in the document.</p> + +<p>On page 12, "Twopeny" was replaced with "Twopenny".</p> + +<p>On page 26, "Bodies Corporat" was replaced with "Bodies Corporate".</p></div> + + + + + + + + +<pre> + + + + + +End of Project Gutenberg's A Stiptick for a Bleeding Nation, by Unknown + +*** END OF THIS PROJECT GUTENBERG EBOOK A STIPTICK FOR A BLEEDING NATION *** + +***** This file should be named 33946-h.htm or 33946-h.zip ***** +This and all associated files of various formats will be found in: + http://www.gutenberg.org/3/3/9/4/33946/ + +Produced by Ernest Schaal and the Online Distributed +Proofreading Team at http://www.pgdp.net (This file was +produced from images generously made available by The +Internet Archive/Canadian Libraries) + + +Updated editions will replace the previous one--the old editions +will be renamed. + +Creating the works from public domain print editions means that no +one owns a United States copyright in these works, so the Foundation +(and you!) can copy and distribute it in the United States without +permission and without paying copyright royalties. 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You may copy it, give it away or +re-use it under the terms of the Project Gutenberg License included +with this eBook or online at www.gutenberg.org + + +Title: A Stiptick for a Bleeding Nation + A safe and speedy way to restore publick credit, and pay + the national debts + +Author: Unknown + +Release Date: October 4, 2010 [EBook #33946] + +Language: English + +Character set encoding: ASCII + +*** START OF THIS PROJECT GUTENBERG EBOOK A STIPTICK FOR A BLEEDING NATION *** + + + + +Produced by Ernest Schaal and the Online Distributed +Proofreading Team at http://www.pgdp.net (This file was +produced from images generously made available by The +Internet Archive/Canadian Libraries) + + + + + + + + + + A + STIPTICK + FOR A + _Bleeding Nation_. + + OR, + + A Safe and Speedy WAY + to Restore _Publick Credit_, and + Pay the _National_ DEBTS. + + [Printer's Decoration] + + _LONDON_: + + Printed for J. ROBERTS, near the _Oxford-Arms_ + in _Warwick-Lane_. 1721. + + + + + [Printer's Decoration] + + A + STIPTICK + FOR A + _Bleeding Nation_. + + OR, + + A Safe and Speedy WAY to Restore _Publick Credit_, and Pay + the _National_ DEBTS. + +Do but a little consider, and you will soon find, _Pride_ and _Luxury_, +_Corruption_ and _Bribery_, are the greatest Causes of our present +Calamities; and if you do not discourage the Two first, and punish the +Two last Evils, we shall speedily come to Destruction, and God will +blast all our Endeavours. + +The lively Instance of late, proves to us the _Ruin_ those Evils carry +with them: And is there not one good Man, that dares to stem the Tide +that is come in upon us, and save us from being drown'd? + +Is there not one Man that has _Honesty_, _Interest_ or _Ability_, to put +in Practice what is so necessary to _preserve_ their Country? + +Let us shake off then those plaguy Sores that corrupt our _Vitals_; and +if we intend to be a Happy and Flourishing People, we must promote +_Piety_, which admits of no Corruption; _Honesty_, that listens to no +Temptation; _Sincerity_, which never deceives his Neighbour; _Sobriety_ +is the Way to Honour, and _Industry_ brings Riches, which Frugality +preserves: He therefore that desires to be _truly Great_, must possess +these Virtues, and prefer _Publick_ to _Private Interest_. + +What is the Reason that all Inferior Places of Profit and Trust are +_bought_ and _sold_, and true Merit wants its _Reward_? Is it not +because the _Devil_, when bought, will be sold? + +Are not our Exports of _Bullion_ so great, that, as fast as it arrives, +it goes away? Which the Publick Entries every Week demonstrate. And were +it not for the daily Supplies from _Portugal_, we should have nothing +but our own _Specie_ to answer all Demands. + +It is obvious, that One Single Corporation has put us into this +Confusion: And will the _Government_ again trust to _that_, or any +other? I should not desire a Friend of mind to be the _Adviser_. + +Can all the Corporations in _London_, put together, be so well depended +upon, as the _Exchequer_; which is supported by the _Government_, who +are able and willing to make good all their own Contracts, but are not +answerable for the Losses of any Corporation; all being oblig'd to sit +down and be content with their own? + +Can any Corporation desire more, than that the _Government_ compel their +own Members, and their Estates, to make good to answer for their +_Mismanagement_? + +Separate then the _Standers-by_ from the _Gamesters_, and let the +Unconcern'd declare their Opinion, Whether, in all Corporations, the +_Directors_ have not an unknown Advantage over all the other Members? Is +it so in the _Exchequer_? + +Tell me then, why a Hundred Pound in a Corporation, is more valuable +than a Hundred in the _Exchequer_? Is it not because you can part with +your Property with much more Ease by way of _Transfer_ in _London_? +Which is not practis'd at the _Exchequer_: Besides, the _Transferring_ +is near at Hand. + +The _Directors_ of any Corporation, if not truly _honest_, may impose at +all Times upon the rest of the _Proprietors_, by making a Dividend above +the intrinsick Value of the Nett Produce of _Profit_; and the +_Legislature_ would do well to provide against such Practices for the +future. + +If due Encouragement was given for the Importation of _Iron_, _Hemp_, +_Pitch_ and _Tar_, from our own _Plantations_, the Export of a great +deal of our _Bullion_ would be sav'd, our _Colonies_ encourag'd, and we +should be then able to supply the _Dutch_, _French_, _Spaniard_, +_Italian_ and _Portugueze_ with Iron, and bring in Two Hundred Thousand +Pounds _per Ann._ Balance of Trade. + +If the _South-Sea_ Company would trade to our own Islands, _viz._ the +_Bahama_, and to _Carolina_; that Trade alone would bring them in Five +Hundred Thousand Pounds _per Ann._ and with a small Expence, if well +manag'd. + + + + + A + PROPOSAL + + To Restore _Publick Credit_, and Pay + the _Nation's_ DEBTS. + + + I. _That the =South-Sea= Company be put in =Statu quo=; and if the + Estates of the late =Directors=, their Aiders and Abettors + will not do it, the =Government= to make up what is wanting._ + + II. _That the =Subscriptions= at =Three Hundred=, =Four Hundred=, + =Eight Hundred=, and a =Thousand=, be all paid into the + =Exchequer= at =Two Hundred=, and there to have a Credit for + =One Hundred=; for which the =Government= is to pay Ten =per + Cent.= until the =One Hundred= shall be paid off: And that those + who have not paid full =Two Hundred=, do make up that Sum within + the Time limited by the late =Directors=._ + + III. _That a Proper Place in =London= be appointed to keep a =Book=, + wherein each Person may be made =Debtor= and =Creditor=; and a + Duplicate of such =Book= to remain in the =Exchequer=. And that + there may be a =Book=, wherein every Person may =transfer= their + Property._ + + IV. _The Debt of =Seven Millions, Five Hundred Thousand Pounds=, + being forgiven the =South-Sea= Company, and they put in =Statu + quo= by the =Government=; the =Nation= will stand =Debtor= and + =Creditor= as followeth:_ Viz. + + NATION Debtor. + + _To =South-Sea= Company_, 11,746,384 + _To Money-Subscribers_, 20,004,000 + _To Redeemable Debts_, 13,886,486 + _To Unredeemable Debts_, 12,070,343 + _To Interest_, __________ + + NATION Creditor. + + _By a Moiety of the Money-Subscribers_, 10,002,000 + _By =Ditto= Redeemable Debts_, 6,993,247 + _By =Ditto= Unredeemable Debts_, 6,035,178 + ---------- + 23,030,425 + + +The _Government_ is only to pay Ten _per Cent._ for the Sum of _Twenty +Three Millions, Thirty Thousand, Four Hundred Twenty Five Pounds_. The +_South-Sea_ Company being in _Statu quo_, are to receive an Interest as +the _Act_ directed before the last _Settlement_. + +The other Moiety will enable the _Government_ to make good the +_Deficiency_ (if any) to the _South-Sea_ Company, to forgive them the +_Seven Millions, Five Hundred Thousand Pounds_, pay the _Interest_ due +from the _Government_ and clear a great Part of the _Principal Debt_. + +The _Scheme_, as before-mention'd, will restore our _Credit_, and pay +Part of our _Debt_; but if we intend to pay the Remainder, we must +endeavour to be at a _Par_ with our Neighbours in Trade: And if they +outdo us in Policy therein, and we do not strive to follow their +_Methods_, we must expect in the End to be the Losers, and never to have +a Balance. + +We ought to consult those Methods that will increase our _Exports_, and +lessen the _Importation_ of such Goods as takes away our _Bullion_, and +prevent our _Coin_ from being exported, in the best Manner we can. + + * * * * * + +Now, Sir, you having consider'd the _Proposal_, and what has been +previously maintain'd give me Leave to ask you a few Questions: _Viz._ + +1. Whether the Corporation of the _South-Sea_ Company, if they could be +sure that the _Government_ would forgive them the Debt of _Seven +Millions, Five Hundred Thousand Pounds_, and put them in _Statu quo_, +(that is, in the Condition they were in when Stock was at _One Hundred +Twenty Five_) would not they readily embrace the _Offer_? + +2. Whether either the _South-Sea_ Company, the Bank of _England_, or the +_East-India_ Company, desire the _Ingraftment_ propos'd by Parliament? + +3. Whether a more equal Distribution of _Loss_ can be made, to please +all Parties, especially the major Part; or who will be the greatest +_Loser_ by the _Proposal_ herein mention'd? + +One great Calamity is the Loss of _Paper Credit_, on which our _Trade_ +chiefly depended: We find already a great Decay, which will soon be more +apparent. We have indeed at present too little _Cash_, and too little +_Credit_, to support _Trade_; and if we do not take other _Methods_ than +what has been yet practis'd, it will be entirely lost. + +It is the Prudence of a _Government_, to establish _Credit_ on the most +solid Foundation; and what can be so solid as a _Parliamentary +Security_? Will the _Government_ be trusted with any future Loans, if +their Debts are settled upon a _precarious Bottom_? And are +_Corporation-Pillars_ a good Foundation? + +The _Method_ already propos'd, is seemingly calculated for the Service +of _Stock-Jobbing_, and a Parcel of _I know not who_, (_Sharpers_,) to +reap the Benefit of it: And if so, the _Nation_ will be utterly ruin'd. +For God's Sake, then, let us not run any more _Hazards_, but prudently +take such _Measures_ as are most safe and advantageous. + +If the _Government_ will forgive the _South-Sea_ Company the Debt of +_Seven Millions, Five Hundred Thousand Pounds_, and put them in _Statu +quo_; they ought to sit down contented, and be easy and thankful. + +If the present _Scheme_ gives the Subscribers but _Twenty Five Pounds_ +Capital Stock for a _Hundred_, and the _Government_ will give such +Subscribers _Fifty Pounds_ for a _Hundred_, I hope they will have no +Reason to complain. + +For should the _Subscriptions_ be ty'd down to _Four Hundred_, Thousands +of Families will be ruin'd. + +If we consider the Debt we owe to _Foreigners_, and how they, on the +_Advance of Stocks_, drain us of our Money; we shall find it very +dangerous to suffer _Stocks_ to be sold above the intrinsick Value. + +If Common Interest be reduc'd to Four _per Cent._ as was intended; what +_Proprietor_ can say he shall be a Loser? Setting aside the +_Subscriptions_ and _Stock_, bought and sold at extravagant Prices; +which is impossible to redress, without making a far greater Number of +Sufferers. + +Will the _Proposal_ of Tying down the _Subscribers_ at _Four Hundred_, +give a greater Interest than Ten _per Cent._ for the Capital? And what +will the Capital be, when paid off? Will that be more than _Twenty Five +Pounds_ for a _Hundred_? Does not this _Proposal_ give _Fifty Pounds_ +for _One Hundred_, with a double Advantage to all; and at the same Time +pays a great Part of our Debt, and settles our Credit on a solid +Foundation? + +A Nation cannot flourish without _Virtue_; nor _Virtue_ without _good +Conscience_. Sudden Ways of _growing rich_, must be ruinous to the +_Publick_: There are of late those who have too suddenly got vast +Estates, and others as soon stripp'd of great Fortunes. + +_Industry_ is therefore the true natural Way to Wealth, as _Idleness_ is +to Poverty. Riches cannot be honestly got without _Industry_, therefore +it ought to be encourag'd, and all _idle Persons_ made to work; and such +as will not work, ought to be serv'd as they are in _Holland_, that is, +exercis'd with the _Pump_. + +Has not the easy Way of getting Money prevented the _South-Sea_ Company +from Carrying on _their Trade_, and the _Fishery_, that Noble and +Profitable Branch; which if they would heartily set their Shoulders to, +they might increase their Stock a Hundred _per Cent._ and not set it +above its intrinsick Value? And our _Poor_ being very numerous, all of +'em may be provided for that way. + +Our _Trade_ has decay'd ever since we have promoted _Stock-Jobbing_, +that easy Way of getting Money: Our _Manufactories_ have diminish'd; +which have increas'd our _Poor_, and lessen'd our _Imports_ and +_Exports_; and the King, in Time, will lose his _Customs_. + +I shall offer some few Heads, necessary to promote _Trade_, and to put +us in a Way speedily to pay our _Debts_, and prevent _Stock-Jobbing_, or +else _Trade_ can never flourish. + + * * * * * + +We must _Recoin_ our Money, and make the _Agio_ so large, as will +prevent its being exported; and thereby hinder the _East-India_ Company +from purchasing _Bullion_ in _Holland_: For if they are suffer'd to buy +_Bullion_ there, we had better by the Half give them free Liberty to +export our Coin, unless the _Exchange_ is Eight _per Cent._ in our +Favour, (which is now so much to the contrary) we shall at all Times be +Losers. By which it appears, how great Losers we are at present, by not +making our Coin of a Value, as it may be exported without Damage to the +Nation. + +Our _Government_ may have _Bullion_ in Plenty, if they will be the +Merchant for that Commodity, and give but a small Matter more for it +than our Neighbours; which we may very well afford to do, if we settle a +like _Agio_. + + * * * * * + +One great Help to _Trade_ in the Nation, would be to have _Sixpences_ +(nay, even _Shillings_) coined with a much greater Allay than our +present Coin; as also _Groats_, _Three-pences_, and _Twopenny Pieces_: +The Government would receive such a Benefit thereby, as cannot be well +here express'd. And I dare answer to find a _Method_, with fine Copper +so intermix'd with Silver, that it shall not be worth any Person's +Time, Trouble and Hazard, to counterfeit it. + +Our Silver being coined with so great an _Allay_ as will prevent its +being exported, will in a short Time cause a Currency of _Cash_: The +_Gentry_ will not hoard it; whereby _Traders_ will be better paid, and +our _Manufactures_ encourag'd, and carry'd on to a greater Degree. + +I remember when there was a great deal of _Clipt_ and _Counterfeit +Money_, and very Plenty of both, that every one that had either a +Counterfeit Piece, or Money that was cut very small, always studied what +to _buy_ with it, that they might pass the one away, or part with the +other. + +The Difference to the _East-India_ Company, in buying _Bullion_, or +_Pieces of Eight_, in _Holland_, is Seven or Eight _per Cent._ more than +what it stands them in when they can be supply'd with it at Home; and if +they were prohibited the _Exportation_ of _Bullion_ from _Foreign +Countries_, and suffer'd to export our own _Coin_, or such Ingots as +shall have the _Tower-Mark_, our _Government_ would have the Advantage +which the _Dutch_ now gain, and no Loss to the _East-India_ Company. For +it will be then equally the same to them, whether they export it from +hence, or from _Holland_, to _India_. + +There is no other Way of preventing our _Bullion_ and _Silver_ being +carry'd out of the Land, but by the Prohibition of the one, by paying a +Difference to the _Government_; _viz._ such a Difference as comes pretty +near to what is lost by _Remittances_; and suffering the other (_viz._ +our _Crowns_ and _Half-Crown Pieces_, coin'd with a proportionable +Allay) to be exported. All which would help to pay off the _Nation's +Debts_, and make us a Flourishing People. + +Our _Half-Crowns_ and _Crowns_ being recoined to such a Standard, I say, +would be of equal Advantage to the _East-India_ Company, whether they +exported _Bullion_ or _Pieces of Eight_, from hence or from _Holland_: +For by the Bank of _Holland_, or rather _Amsterdam_, all _Exchanges_ are +chiefly govern'd; and as the _Hollanders_ are the nearest concern'd with +us in _Trade_, so by them we are to regulate and proportion the +Difference between our _Bank-Money_ and our Current Cash. + + * * * * * + +The Bank of _England_ is establish'd upon the Standard of our present +_Coin_: Let it so remain, till the _Government_ sees fit to alter, or +pay them off; and let _Bills of Exchange_ be paid _in Banco_, or, if +they so please, in Current Cash; the Difference or _Agio_ to be allow'd +in like manner as they do in _Holland_. + +There has been a considerable Profit made, by _Melting down_ and +_Exporting_ our own Coin; and there will always be those that will do +it, tho' punish'd with Death, as in _Portugal_. And where there is a +great Loss in Melting down, or Exporting the _Current Coin_, tho' there +is no _Penalty_, the Money will be preserv'd; as in _Holland_. + +Let the Merchant have a _Profit_ in carrying Gold and Silver to the +_Mint_ to be coined, or there will little or none go there: But if the +Merchant finds a _Profit_ (tho' small) in the Coinage, there will be +great Quantities coined. + +That they who act with the greatest _Prudence_ and _Honour_, and have +most Money, will always have most Credit; this needs no Proof. + +While our _Money_, which is the Blood of the _Body Politick_, is +suffer'd to run out, and there is no Supply, all _Projects_ for +restoring _Credit_, and keeping up the Spirits of the _People_, will +prove abortive. _Trade_, and the Noblest Undertakings for Employing the +_Poor_, must be at a full Stop, if Money be wanting to carry them on. + +'Tis certain, that until we have a greater Plenty of Money, _Trade_ and +all other Business must be assisted with _Paper Credit_; and if it does +not receive Voluntary Credit, it will never be made by Force. And if our +Affairs are rightly managed, our Estates are doubled, and secur'd; if +not, the best Estates will soon be worth nothing. + +That _Paper Credit_ may have an immediate Currency, it is necessary for +the _Exchequer_ to issue out as many _Notes_ as they shall be able to +circulate, with a _Tax_ of a _Guinea_ on every _Transfer_; the one Half +to be paid by the _Buyer_, and the other by the _Seller_. + +That those _Bills_ be to discharge the Debts due and owing by the +_Government_: And that the said _Bills_ be circulated in _London_. + +Some make a mighty Noise, that if our _Coin_ be raised, _Foreigners_ +will not take it. I answer, For that Reason we ought to raise it. If we +are to pay _Foreigners_ any Thing upon the Balance of an Accompt, we +ought to pay them as near as we can in their own Coin. + +That no Person (under severe _Penalty_) presume to raise the _Price_ of +any Thing, on Account of the Alteration of the _Coin_; otherwise the +_Name_ is only alter'd, and not the _Value_ of our Coin: There being as +much Reason for the _Parliament_ to put a _Value_ thereon, as for a +_Goldsmith_ to do it on wrought Plate. + +But the first Care to be taken, is, How the _Nation_ may prevent any +Advance in _South-Sea_ Stock above what it was before; so that +_Foreigners_ concern'd may not receive a _greater Principal_ than a +Hundred Pound, and Five _per Cent._ as they did before this unhappy +_Ingraftment_: For the Stock, by the said _Ingraftment_, will be of such +a Magnitude, that a Hundred _per Cent._ Advance will, in all +Probability, give the Strangers such a Capital, as will amount to more +than the whole _Cash_ of the Kingdom. + +The _Foreigners_ have taken an Alarm since our late _unhappy +Mismanagement_; and are only waiting for some _New Project_, to sell +out, and strip us entirely: So that if we will consider our own +_Preservation_, we must rather _depretiate_ our Stocks, than seek Means +to _augment_ them. + +It is a receiv'd Maxim, _Salus Populi Suprema Lex esto_: This I take to +be meant of the _whole Body_, not of some Parts of the _People_. And +tho' _Thousands_ may suffer, yet it is a receiv'd Rule, That the +_Whole_ is first to be consider'd, when it comes in Competition with any +_Parts_. + +Therefore, in our present Case, the _Whole_ is to be consider'd; and the +_Preservation_ of that, is to weigh down against all the Hardships that +may happen to _Particulars_. + +Now, if this Maxim stands good, it is the Obligation of every true Lover +of his _Country_, to have that in View; and not, from a Regard to +_Particulars_, run the Hazard of sacrificing the _Whole_. Their +_Misfortunes_ ought to have no Weight, nor any _Contrivance_ to ease +them, prevail, in Balance with our _Country_. + +Our late _Project_, if it could have been held up, would have created +such a _Luxury_, that that very Thing alone would have undone the +_Nation_, and would have sunk us; tho' not with such a _Rapidity_, as +the Way which we have now in some measure escap'd. + + * * * * * + +The _Matter_ standing in this Light, the only View is the _Benefit_ of +our _Country_. + +The _Body Politick_ is very weak, and requires an honest and able +_Physician_; and where to find him, is the only Thing in Question. + +Let us consider, whether this design'd _Ingraftment_ of _Nine Millions_ +into the _Bank_, and _Nine Millions_ into the _East-India_ Company, will +prove any real Benefit to the _Nation_ as a _Nation_? No surely, that +cannot be pretended; but only, that they making greater Dividends, may +be of Service to _Individuals_; and yet that is much to be doubted. + +For as to the _Bank_, the Capital was too big before to render any great +_Advance_: And had it not been for a new Practice, first begun by the +_South-Sea_ Company, of Lending Money on their _Stock_; had it not been, +I say, for their imitating (tho' with Caution) that _infamous Practice_, +their Dividends would have been reduc'd to _Seven per Cent._ or under. + +And for the _East-India_ Company, their _Trade_ is so far extended, +especially at this Juncture, when they are forc'd to _over-trade_ +themselves, in order to ruin the _Ostenders_, that it's look'd on +already as a _Grievance_: And yet by adding _Nine Millions_, they must +divide _Four Hundred and Fifty Thousand Pounds_ Profit more than before. +And notwithstanding their _Trade_ (as I said before) was then a +_Grievance_; to what an Extension must it be driven now, to _divide_ +such a Profit; when hitherto they never _divided_ above _One Hundred +and Sixty Thousand Pounds_ a Year Profit? + +But will it not be a Second _Injustice_ to the _Annuitants_, after so +great a _Diminution_ of their Estates, to have _Two Thirds_ of it +_ingrafted_ on a _precarious Bottom_? All Stocks having been suffer'd to +divide above the Value of the _Nett Produce_ of their Capital; a sure +Way to distress _Trade_: Especially when Corporations are suffer'd to +issue out _Bonds_, without Trading with the _Money_, but purely to +advance their _Stock_. + +The _Two Ingraftments_ are brought in, in order to help the +_Proprietors_, by Advantages of _Dividends_, to a greater Income than +the Stock could make, if retain'd in the _South-Sea_; and so to raise +the Nominal Price of Stock. Whether it will do the former, is a Doubt; +but if so, the Stock had better been kept where it was; and if the +latter, it will be only a _New Bubble_, to ruin us. + +Neither the _Bank_, nor the _East-India_ Company, seem fond of the +Project of this _Ingraftment_; and nothing can be argued, but that +Something must be done, at least to amuse People with _vain Hopes_: +Whereas, the true Interest of our _Country_ would have been, to have +laid the _Wound_ open to every one's View; to have shewn the World, +what _Dividend_ could be made out of the _Interest_, and what they might +expect. Then _Foreigners_ would have sat still; for they could no where +else make Five _per Cent._ of _One Hundred Pounds_; and their Money have +remain'd here. + +But if we come to make _Dividends_ of Twelve _per Cent._ and by that +means advance the Stock to _Three Hundred_; then those Strangers that +had _Four Millions_ Capital, and receiv'd _Two Hundred Thousand Pounds_ +per Ann. will have _Four Hundred and Eighty Thousand Pounds_ per Annum, +and have a _Demand_ of _Twelve Millions_ on you; which will entirely +finish what the late _South-Sea_ Directors so gloriously began. + +Is this a Time to endeavour at new _Projects_, when the Nation is at so +low an Ebb; and when the World is ready, on the least Opportunity given, +to put to the _Finishing Stroke_? + +It is a certain Topick, That every _Relief_ in the Case of the +_South-Sea_ Company, will be thought an _Injustice_ to some, who cannot +be reliev'd but at the _Expence_ of others. That Way therefore must be +taken, that is most Safe and Equal. + + * * * * * + +By what has been said, you will easily judge, how little the _poor +Sufferers_ are like to expect from this _New Project_; and that if the +_Success_ attend it that some People hope, it must be the Ruin of the +_Nation_. + +You likewise see the _Danger_ there is in _Advancing_ of Stocks above +their Original Capital; and how necessary it is to restrain Corporations +from _Dividing_ more than what their _Original Stock_ will fairly +produce; and that such _Practices_ are destructive to the Commonwealth +of this _Nation_. + +Ought not then the _Legislature_ to enter upon speedy _Measures_, and +such as may prevent any _Evil Consequence_ that may happen? + + * * * * * + +Our Main Business, therefore, is, how to find out _Methods_ to extend +our _Trade_; for _Projects_, and _United Companies_, are only contriv'd +to _enrich_ a few. + +We have within our selves, and in _America_, an inexhaustible Fund to +_supply_ our selves, and perhaps _Europe_, with what we are now beholden +to _Foreigners_ for, and that at the Expence of our _Silver_ and _Gold_; +and yet either our _Negligence_, or _private Views_, make us sit still. +But otherwise, + +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_ pass 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._ + + [Printer's Decoration] + + + + +Transcriber's Notes: + +Passages in italics are indicated by _underscores_. + +Non-italicized words within an italicized block of text are indicated +by =equal signs=. + +Small capitals have been replaced with Title cased text. + +Obsolete spellings of words (e.g., publick, intrinsick, nett, +Portugueze, allay, accompt, depretiate etc.) have been retained; +long s has been transcribed as modern round s. + +On page 7, "maintain d" was replaced with "maintain'd". + +On page 8, "Ingraffment" was replaced with "Ingraftment", to make it +consistent with other usage in the document. + +On page 12, "Twopeny" was replaced with "Twopenny". + +On page 26, "Bodies Corporat" was replaced with "Bodies Corporate". + + + + + +End of Project Gutenberg's A Stiptick for a Bleeding Nation, by Unknown + +*** END OF THIS PROJECT GUTENBERG EBOOK A STIPTICK FOR A BLEEDING NATION *** + +***** This file should be named 33946.txt or 33946.zip ***** +This and all associated files of various formats will be found in: + http://www.gutenberg.org/3/3/9/4/33946/ + +Produced by Ernest Schaal and the Online Distributed +Proofreading Team at http://www.pgdp.net (This file was +produced from images generously made available by The +Internet Archive/Canadian Libraries) + + +Updated editions will replace the previous one--the old editions +will be renamed. + +Creating the works from public domain print editions means that no +one owns a United States copyright in these works, so the Foundation +(and you!) can copy and distribute it in the United States without +permission and without paying copyright royalties. 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