TO Relieve poor Widows of the Clergy, is a truly Charitable Work. But to find out ſome Expedient, whereby the Poverty of ſuch Perſons may for the future be prevented, is a more deſirable Undertaking.

In order to which good Deſign, the Occaſions of ſuch Poverty muſt firſt be inquired; and how it comes to paſs, that the Relicts of ſome Churchmen are expoſed to ſo much Want. Which being diſtinctly known and conſidered, we ſhall then better be enabled to apply the Remedy.

And, Firſt, Several Church-Livings (being Impropriate) are of ſo ſmall a value, that the Incumbents are ſcarce able to Subſiſt, much leſs can they expect to make Proviſion for Poſterity.

This is indeed a very ſad Truth. And though there is a way to redreſs this Grievance, yet it is too big for our preſent Thoughts. And therefore,

Secondly, It muſt further be acknowledged, That ſome Churchmen who have competent Preferments, do not yet make over-plentiful Proviſion for their Wives and Children. And the cauſe ſeems to be this:

Theſe Gentlemen, though otherwiſe well Deſcended and of good Families; yet being younger Brothers, or the Sons of ſuch, they have ſeldom any Eſtates in Land; but according to the Cuſtom of our Country, either a Sum of Money, or ſome yearly Annuity for their Lives: The Effects of which being uſually expended in a Chargeable Education, when the neceſſity of their Affairs doth incline them to Marry, they cannot expect conſiderable Portions with their Wives, becauſe for want of real Eſtates, they are not in a Capacity to ſettle Joyntures upon them. Hence it too often comes to paſs, That a free and generous Way of living, a ſcanted Portion, and a fruitful Wife (who brings a Charge without a Competency to maintain it) do ſo entangle his Affairs, that our honeſt Churchman is not only diſturbed in his Thoughts, diverted from his Studies with perplexing Cares, but alſo is ſo clogged with the Neceſſities of a Family and other Expectations, that his Widow is many times left in a very mean, if not indigent Condition.

If therefore ſuch an Expedient can be found, whereby Clergymen may, upon eaſy Terms, ſettle competent Joyntures upon their Wives; if, for inſtance, they may be enabled to ſecure them Thirty per Cent. to be yearly paid during their Natural Lives; This would not only take off the Reproach of Steeple-houſe Joyntures, but would alſo encourage that Hoſpitality which is an Ornament to their Profeſſion. They may then be obliging to their Pariſhioners, Charitable to the Poor, and may live without Diſtraction. And though their Death ſhould be ſudden and unexpected, yet their Wives are competently provided for. The very Thoughts of which will compoſe their Spirits, raiſe their Parts, and make the whole Courſe of their Lives comfortable and eaſy to them.

And not only Churchmen, but alſo all other Orders of Men may receive the Benefit of this Propoſal.

There are ſeveral Phyſicians, Lawyers, Merchants, Traders, &c. who, during their own Lives, are either men of competent Eſtates, or have the Credit to be thought ſo: and conſequently their Wives are ſuitably maintained. But at their Deaths, their Wives (as well as thoſe of the Clergy) are ſometimes left in a mean, if not indigent Condition.

For as a Churchman's Preferments are only for his Life; ſo neither can a Phyſitian Practice, nor a Lawyer Plead in the other World. I have therefore ſometimes wonder'd, why the Clergy ſhould be upbraided with Steeple-houſe Joyntures: Since the Wives of other Profeſſions are in this reſpect as liable to be expoſed as the Clergy.

For as the Clergy (who are of a Generous Diſpoſition) do too often Live above their preſent preferments; ſo Phyſitians and Lawyers do ſometimes yearly expend to the utmoſt of their Practice. In ſuch Caſes (which too often happen) it muſt needs be acknowledg'd a great Advantage to ſuch Perſons, to have 30, or 60, or 90 l. per Ann. or more, Setled upon their Wives, by way of Joynture or Rent-charge, in caſe they ſurvive them.

Nor is this Propoſal leſs uſeful to Traders, than to Men of Profeſſions.

For though Trade is a Gainful, yet it is an hazardous and uncertain way of Living; Wherein the moſt Sober, Sagacious, and Induſtrious Perſon may without his own fault, be ſunk and ruined by the miſcarriage of others.

The Falſeneſs of a Partner, or Treachery of a Correſpondent, with many other Accidents, may blaſt him in a moment.

And though he may make ſome tolerable Shift to Trade on (as we phraſe it) and may keep his Shop open, even during his Life; yet ſince he lives only by his Credit, it hence unavoidably follows at his Death, that his Wife (who was ignorant of his Intrigues) inſtead of her Thirds (the only Joynture ſetled for a 1000, or 1500 l.) is ſadly entertained with the ſurprizing News, That all is ſeized.

Now had this Perſon immediately after his Marriage, when his Portion was Received, or at any other time when he flouriſhed in Money, had he, I ſay, then Paid in Three or but Two Hundred Pounds to the Mercers Company; what a ſeaſonable Support would the Effects of it have been, to his now poor diſconſolate diſtreſſed Widow?

And it muſt not be omitted, that this Propoſal, as now managed and improved, is highly uſeful to Country-Gentlemen, and other Landed Men; by enabling them to Settle Jointures without clogging their Lands. As will plainly appear in the following Inſtance.

A. B. poſſeſs'd of an Eſtate in Land of 300 l. per. Ann. propoſeth Marriage to C. D. whoſe Portion is 3000 l. For which Portion, according to the Cuſtom of England, ſhe expects a Jointure of 300 l. per. Ann. Which being the whole of A. B. his Eſtate (and which perhaps, is not only charged with the Payment of Debts, but alſo Portions for younger Children) cannot conveniently be All Settled as a Jointure, without the ruin of the Family in the next Generation, eſpecially ſhould C. D. marry to a Second Huſband.

A. B. is much perplext how to behave himſelf in this Caſe. On the one hand he is very uneaſy to part with ſo conſiderable a Fortune. On the other hand, he thinks himſelf obliged to conſult his Family; and muſt not be ſo imprudent, as out of Kindneſs to a Wife to ruin Poſterity.

Now with what eaſe are all Difficulties removed by this Propoſal? For by paying 1000 l. to the Mercers Company, his Wife is Jointured in 300 l. per. Ann. He hath 2000 l. to anſwer other Occaſions. And his Land is cleared, to be enjoyed by his Eldeſt Son, even during his Mother's Life.

And as Landed-Men, ſo likewiſe Men of Profeſſions are hereby encouraged, to get larger Portions than otherwiſe they could expect. As for inſtance.

A Clergyman, whoſe Preferment is 200 l. per. Ann. (or a Phyſitian or Lawyer, whoſe Yearly Practice is of equal value) doth deſign a Wife with 2000 l. Portion. But having no Eſtate in Land, as we ſuppoſe, to ſettle upon her for a Jointure, he is ſoon diſcouraged in his Pretences. But this Propoſal doth eaſily make the Match. For by paying 500 l. at Mercers-Hall, ſhe is Jointured in 150 l. per. Ann. and 1500 l. is left, as a Proviſion for Children, and other Occaſions.

From theſe Premiſſes it appears, That the Advantages of this Propoſal (even to All Orders and Profeſſions) are not to be doubted. But the chief Queſtion is, How theſe Jointures • an be ſecured? What Security ſhall be given to the Subſcribers, That their Widows ſhall not be Defrauded, but that the Jointures and Annuities here promiſed ſhall be punctually paid them?

This is that which for many years did exerciſe Dr. Aſſheton's Thoughts.

For though he was encouraged by ſeveral knowing Judicious Perſons (whom he had conſulted, and to whom he had communicated his Propoſal) that the Deſign was Practicable; yet where to fix it, or how to provide ſuch a Fund as might ſecure the Subſcribers, was a matter of ſome Difficulty, not only to himſelf, but alſo to the Undertaking.

As to Himſelf, He was fully convinced, not only of the Trouble and Charge in managing ſuch a Work, but alſo of the hazard to his Reputation if it ſhould miſcarry. For the generality of Men are very unjuſt in their Cenſures, and will allow nothing to be well Deſigned, that ſhall want Succeſs.

However, he did reſolve to go on; and if poſſible, to finiſh what he had ſo long Projected.

His Firſt Addreſs was to the Corporation of the Clergy. Who indeed received him with the greateſt Kindneſs and Reſpect; But withal Declared for Reaſons not now to be repeated, that they were not capable to accept his Propoſal.

His next Application was to the Royal Bank of England. Where he did not doubt of ſufficient Security for the Subſcribers. But for ſome Reaſons, which are obvious to Men of Buſineſs, this Royal Bank, at preſent, is not ſo Modell'd, as to manage this Propoſal.

Though thus far diſappointed, yet Dr. Aſſheton was not Diſcouraged. And being admoniſhed, that a City-Company was very capable to undertake his Propoſal: And that the Mercers was the Beſt, both for Management and Revenue, he immediately applied himſelf to that Company. And having firſt waited upon the late Maſter, T. P. Eſq (whoſe known Worth, and inclination to promote Charitable Deſigns, gave him great encouragement of Succeſs) he next attended the Wardens, and ſeveral others of the Members.

After ſome time, a General Court of the ſaid Company was held, on Friday the 11th of November 1698. Where Dr. Aſſheton's Propoſal was read to the ſaid Company. And the Doctor being then asked, What he had further to ſay; he Replyed to this Effect, viz

HE was very ſenſible, that Wiſe men, who are not apt to be impoſed on, do look upon Projects, with Caution, and at a diſtance. And therefore he was not ſo vain as to expect, that this Propoſal ſhould be unanimouſly received, after one ſingle Reading, at a General Court. For the Reaſons of ſuch an Undertaking are not always obvious, but require ſome Thought and Application of Mind. He therefore humbly moved, That a Committee might be appointed, to conſider and examine the Reaſons of the Propoſal, together with ſuch a Method, as ſhould be thought moſt Expedient for the management of it.

Whereupon a Committee was appointed to conſider of the ſame, and what Security the Company could give to the Subſcribers.

The which Committee (after ſeveral Meetings, and Diſcourſes with Dr. Aſſheton) made their Report to another General Court the 23d of December, 1698. Which Court having read the Report of the Committee, did ſuſpend their Reſolution of the ſame for that time. And another General Court was appointed to be held the 13th of January following, that ſo all the Members of the ſaid Company might have time to conſider of the ſaid Propoſal, and the Report of the Committee thereupon; that ſo they might the better be enabled to give their Reſolutions in the whole Affair. And at this Third General Court, the Company did accept of the ſaid Propoſal. And did Publiſh and Declare their Acceptance in Manner and Form following.

PUrſuant to this Propoſal, the Subſcription Books were laid open March 1. 1698. and Attendance was given by ſeveral Members of the Company (appointed as Managers) every Week, on Wedneſdays, Tueſdays, and Fridays, between the hours of 9 and 12 in the Forenoon, and 3 and 6 in the Afternoon. And though ſeveral Thouſand Pounds were Subſcribed, yet it being obſerved, that the Capital Stock of 100000 l. in all probability would not be compleated before the 24th of June (the time limited for Subſcriptions,)

Therefore, that ſo uſeful an Undertaking might not be laid aſide (having firſt Examined, what might be the Reaſons why Subſcriptions were not compleated, as at firſt was expected; and having conceived that the Chief Reaſon was, becauſe there was no Settlement as yet made) at a General Court, held for the ſaid Company, the 16th of June 1699. it was Reſolved as followeth.

1. That the ſaid Settlement propoſed in the former Paper, ſhall be forthwith ſettled by able Council in the Law, in Truſtees of undoubted Reputation and Ability, for the Benefit of the Subſcribers, that ſo there might never be a failure. And any of the Perſons that have Subſcribed, may, if they deſire it, have liberty to accompany the Members of the Company to go with them to the Council, to ſee the making of the ſaid Settlement.

2. As ſoon as the ſaid Settlement is made, Publication ſhall be made thereof; and thoſe Perſons that have Subſcribed, are to pay in their Moneys according to their Subſcription.

3. The Company will take Subſcriptions at any time hereafter till ſuch time as the Sum of 100000 l. be ſubſcribed; but will not exceed that Sum at any one time. And in caſe of the Death of any Perſons, whereby the Subſcriptions fall off, the Company will admit any other Perſon or Perſons to Subſcribe ſuch Sum or Sums as will make up the ſaid Sum of 100000 l. but never to exceed the ſame.

4. After the ſaid Settlement ſhall be made, every Subſcriber is to pay in the Money by him Subſcribed, at the time of his Subſcription.

5. The Company have thought fit alſo to enlarge the Sums to be Subſcribed, viz. That all Married Men of the Age of Thirty Years, or under, may Subſcribe any Sum not exceeding 1000 l. That all Married Men, not exceeding the Age of Forty Years, may Subſcribe any Sum not exceeding 500 l. And that all Married Men, not exceeding the Age of Sixty Years, may Subſcribe any Sum, not exceeding 300 l. And the Widows of all Perſons Subſcribing, according to theſe Limitations, ſhall receive the Benefit of 30 l. per Cent. per Ann. according to the former Propoſals.

6. The Company do alſo Declare, That any Perſon (under the Limitations before mentioned) may Subſcribe for the Uſe and Benefit of any Perſon or Perſons, as ſuch Subſcriber ſhall by his laſt 〈◊〉 and Teſtament direct, during the Natural Life of his Wife, in caſe ſhe ſurvives him; Declaring in his Subſcription, That it is ſo intended; and ſuch Perſon or Perſons ſhall receive the Benefit of ſuch Subſcription accordingly.

7. That the Obligations to be given by the Company, ſhall be made ſuitable to theſe Alterations, as well for thoſe that have already Subſcribed, as thoſe that ſhall Subſcribe hereafter. And the Bond to be given by the Subſcribers ſhall be only of the Penalty of half the Sum Subſcribed by any Perſon.

8. And whereas in the Company's Obligation, the Firſt Payment to be made to any Widow or other Perſon who ſhould be entituled to any Benefit by virtue of any Subſcription, was, by the ſaid Obligation in the former Propoſal, to be on the Firſt of the Feaſt-Days therein mentioned, that ſhould happen Six Months, or more, after the Deceaſe of the Perſon or Perſons ſo Subſcribing; The Company have thought fit and do hereby Declare, That ſuch Firſt Payment ſhall be made at ſuch of the ſaid Feaſt-Days which ſhall happen Four Months, or more, after the Deceaſe of the Perſon or Perſons ſo Subſcribing; and the Obligation to be made accordingly.

BEſides theſe Alterations and Improvements, ſeveral other Conceſſions have been ſince made, in favour of Subſcribers. As

1. Several Perſons, who live diſtant from London, being ſenſible of the Trouble and Charge of long Journeys, did deſire the Liberty to Subſcribe and Pay in their Money by Proxy. Which being Propoſed, and debated at a Committee the 14th of July 1699, the Reſolve of the ſaid Committee was thus.

The which Debate of the Committee being read at a General Court, the 18th of Auguſt 1699, and the Queſtion being put, Whether the Court would comply with the Propoſition of the ſaid Committee, touching taking Subſcriptions by Proxy; it was carried in the Affirmative. But the Court Ordered and deſired the ſaid Committee to uſe all poſſible Care and Caution touching the ſame.

Accordingly it is Ordered, That when any Perſon doth intend to Subſcribe by Proxy, he ſhall Firſt make the following Affidavit upon Oath, before ſome Juſtice of the Peace in the Neighbourhood, with a Certificate of the ſame, Subſcribed by the Miniſter and Churchwardens of the Pariſh where the ſaid intended Subſcriber doth Inhabit.

But if the Subſcriber is a Miniſter, then this Certificate is to be Subſcribed by the Miniſter and Churchwardens of the next Pariſh.

Theſe Teſtimonials being brought to the Wardens by a Credible Perſon, will be accepted; and the Perſon concerned will be admitted to Subſcribe, and Pay in his Money by Proxy.

2. It hath been often Objected, That the Fifth Article, as it relates to Seamen, ought to be explained. The words of the Article are theſe, viz.

5. That no Perſon that goes to Sea ſhall be admitted to Subſcribe, to have the Benefit of this Propoſal.

Now ſay the Objectors, This Article may be great diſadvantage to ſeveral Perſons, who are either actual Subſcribers, or intend to be ſo. For ſuppoſe ſuch a Perſon ſhall have ſome urgent extraordinary Occaſion to croſs the Seas, e. g. For the Recovery of a Debt; the making up an Account, &c. muſt ſuch a Perſon either loſe his Effects in theſe Inſtances, or elſe muſt his Wife be deprived the Benefit of this Propoſal?

To Satisfy ſuch Perſons the Company did take this Matter into Conſideration at a General Court, Auguſt 18. 1699. And did then thus Declare, viz.

THeſe Conceſſions being thus made, the Company then proceeded to give Directions for the drawing up of a Deed of Settlement, by the Advice of very Able and Learned Council. The which Deed of Settlement was Executed by the Company and Truſtees, at a General Court of the ſaid Company, held on Wedneſday the Fourth of October 1699.

The Deed of Settlement is enrolled in his Majeſties High Court of Chancery: And an Authentick Copy of it, tranſcribed into a Book and well Atteſted, will conſtantly lye upon the Table with the Books of Subſcription, to be peruſed on Wedneſdays and Fridays every Week, between the Hours of Nine and One in the Forenoon. At which time the Wardens and Members of the Company will Attend at Mercers-Hall, to take Subſcriptions, and receive the Money.

For this Reaſon I ſhall give no farther Account of the Contents of the ſaid Deed. As, What Eſtates are Settled, and the Value of them? Who are the Truſtees, to whom theſe Eſtates are made over and Conveyed, for the Security of the Subſcribers, and the effectual Payment of their Widows? &c.

I ſhall not pretend, I ſay, to give any Account of theſe Matters; Since it is more for my eaſe, and the Satisfaction of all Perſons concerned, to peruſe the Deed it ſelf.