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diff --git a/33946.txt b/33946.txt new file mode 100644 index 0000000..9d63e91 --- /dev/null +++ b/33946.txt @@ -0,0 +1,1064 @@ +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: 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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