The freehold estates of England, or, England itself the best fund or security

The Freehold Eſtates of England, or England it ſelf the beſt Fund or Security.

AFTER ſo many Aſſurances given by ſome Perſons, to furniſh the Freeholders of England with Money, upon the Securities of their Eſtates, one would have thought no Landed-Man in the Kingdom could have remained under any Difficulty to raiſe Money for ſupplying his Occaſions, or to clear off his Incumbrances, and that Leaſes of Ejectment, and Sub-poena's in Chancery to forecloſe Equities of Redemption, would have been out of Date; but notwithſtanding all that hath been promiſed, we find the Freeholders under as bad if not worſe Circumſtances than ever. The Bank of England, who have cauſed many Advertiſements to be inſerted in the Gazettes, of furniſhing the Freeholders with Money at 5 l. per Cent. per Annum, not meeting with one Title in an hundred that will pleaſe them, have turn'd the Current of their Buſineſs another way, and are ſetting up Banks in Foreign Countries, leaving the poor Freeholders to ſhift for themſelves.

The Orphans Bank have ſet out an Order to lend Money upon a Depoſite of Gold or Silver, and to diſcount Bills of Exchange at 3 l. per Cent. per Annum, but mention not one word of lending Money on Land-Security.

In fine, tho all make uſe of that pleaſing and popular Argument, of eaſing the Freeholders, and raiſing the Value of Land, yet not one ſtep hath been taken therein, nor muſt we expect ever will, ſo long as the Management is in private Hands, and not by Perſons appointed either by the Publick, or by the Freeholders themſelves; but all that hath been ſaid or promiſed (if one may have leave to judg by Mens Actions) ſeems only a Pretence, without the leaſt Reality or Purpoſe to perform the ſame. Now when the Revenue of the Exciſe, the Annual Income ſettled on the Orphans, the Lottery-Tickets, the Annuities for Lives, and indeed almoſt any thing that has but the face of a Security, altho depending on Contingencies, are made uſe of for Funds whereupon to iſſue out Bills, and have ſome of them actual Credit for three times more than the real Value; It cannot but ſeem ſtrange to any conſidering Man, that the Freehold Eſtates of England, or rather England it ſelf, which all muſt acknowledg to be the very Baſis of thoſe Funds, ſhould be diſregarded; and the iſſuing out Bills on Land-Security for a far leſs Sum than the Value, ſhould be ridiculed, and made a Jeſt of: yet ſome People have had ſo little Senſe as to paſs their Cenſures on my Propoſals to the Parliament, for iſſuing out Bills of Credit on Land-Security; and the Bill which was brought in by Mr. Brockman this laſt Seſſions by Order of the Honourable the Houſe of Commons, entituled, An Act for the Improvement of the Freehold Eſtates of England, and the Encouragement of Trade, and which was referr'd to a Committee, who made a conſiderable Progreſs therein, was by ſome Perſons oppoſed, for no other Reaſon as I could ever hear of, but becauſe it would have been prejudicial to their particular Intereſts. I did therefore once deſign to have printed a Breviate of the ſaid Bill, that all Perſons might have ſeen whether the ſame was reaſonable or practicable; but upon further Conſideration I forbore it, finding too many led more by Humour than Reaſon, and that they will not believe any thing poſſible to be done, until they ſee it effected. I ſhall therefore (being encouraged ſo to do by ſeveral Perſons of great Worth) reduce the ſame into Practice, and to lay the Foundation of a National Bank (and probably the greateſt Bank in the World) ſo far as it is capable of being done, without the Aſſiſtance of an Act of Parliament; ſtill ſubmitting the ſame to ſuch Regulations, Alterations, or Amendments as the great Council of the Kingdom ſhall in their Wiſdom at any time hereafter think needful to make.

Some perhaps who are deſirous to keep the Freeholders Necks ſtill under the Servile Yoke of 6 l. per Cent. per Annum Intereſt, beſides other Charges, which with the Taxes hath eaten up ſeveral of their Eſtates, may make trivial Objections againſt theſe my Propoſals, and demand where will the Money be found to anſwer the Bills of Credit? But I do not think my ſelf obliged to acquaint every impertinent Queriſt with the Methods I have to propoſe for raiſing a Fund of Money: It is ſufficient I have hitherto born the whole Charge of proſecuting this Buſineſs, which when accompliſhed will be ſo greatly for the Freeholders Advantage, and will more than double the Value of their Eſtates. All that I deſire of the Freeholders is that they will enable me to do it by ſubſcribing, and ſettling their Eſtates in Truſt upon credible and ſubſtantial Perſons of their own naming, and to chooſe ſome from among themſelves to put in Practice thoſe Methods I have to lay before them, ſo far forth as they ſhall appear agreeable to Reaſon and no farther.

PROPOSALS for Subſcriptions for a National Land-Bank.

THat Books ſhall be laid open on Tueſday the 11th of this inſtant June, at the Chambers of Thomas Gooding Serjeant at Law, in Field-Court in Grayes-Inn. At Philip Neave Eſq his Chambers, the ſecond Stair-Caſe of the Paper-Buildings in the Inner Temple. At Lawrence Braddon Eſq his Chambers, Number 4. the ſecond Stair-Caſe in the new Square at Lincolns-Inn. At the Houſe of Robert Weſt Eſq the Corner of Buckingham-Court near Scotland-Yard. At Mr. John Smith's in Exchange-Alley: And at Mr. Humfry Hackſhaw's in Lothbury near the Royal Exchange in London. Where any Perſons by themſelves or others, may ſubſcribe Lands, Tenements or Hereditaments, whether Freehold, Copy-hold, or Leaſe-hold, to what yearly Value they pleaſe, to be ſettled upon ſuch Truſtees as ſhall be choſen by the Subſcribers, for Funds to iſſue out Bills of Credit upon the Security of ſuch Eſtates.

That an Account ſhall be publiſh'd in Print every Month of the yearly Value of the Eſtates ſubſcribed.

That ſo ſoon as 100000 l. per Annum ſhall be ſubſcribed, a Liſt of the Subſcribers ſhall be printed alphabetically, with the ſeveral yearly Values by them and each of them ſubſcribed, and timely Notice given to the ſeveral Subſcribers, to meet together in ſome publick place within the Cities of London or Weſtminſter, to chooſe by the Majority of Votes, ſuch and ſo many credible Perſons, as they or the Major Part of them ſhall think fit to be Truſtees of all Eſtates to be ſettled on ſuch Truſtees in Truſt for the aforeſaid Purpoſes.

That the Subſcribers ſhall at the ſame time chooſe by the Majority of Votes, ſuch and ſo many to be Directors or Managers, and alſo one or more Treaſurer or Treaſurers of the ſaid intended Land-Bank, to be continued in their reſpective Offices for ſo long time as the Subſcribers or Major Part of them ſhall think fit, and no longer.

That each Subſcriber ſhall have one Vote in the Election of Truſtees, Managers and Treaſurers, for each 50 l. per Annum, by him or her ſubſcribed.

That any Perſon or Perſons who ſhall ſettle his or their Eſtate or Eſtates upon the ſaid Truſtees, ſhall at any time after ſuch Settlement of ſuch Eſtate or Eſtates, have in Money or Bills of Credit, to the Value of three fourth parts of his or their Eſtate or Eſtates ſo ſettled, he or they paying to the ſaid Directors or Managers Two Pence per Cent. per Diem, being 3 l. 0 s. 10 d. per Cent. per Annum, for Intereſt, and all other Charges whatſoever, and no more; and may alſo repay to the ſaid Directors or Managers all or any part of the ſame, at any time or times whenſoever, and as it ſhall beſt ſute with his or their Conveniency to repay the ſame; but no Man's Eſtate is to ſtand or be engaged for any other or greater Sum than what he himſelf ſhall actually receive and be indebted for.

The Propoſer doubts not but he ſhall be able to reduce the Intereſt which the Freeholder is to pay to leſs than 3 l. per Cent. per Annum, as will appear by the Conditions in the Subſcription Books, to which all Perſons for farther Satisfaction are referr'd.

JOHN BRISCOE.