NEcessity, we truly say, is the Mother of Invention, and if so, all thriving waies are more likely to be found in Petty States, than in great Monarchies; espe­cially where the Subjects hearts are poisoned with, that ground-work of Rebellion, an endea­vour to keep their King poor, that his necessities may compel him to sell his just Prerogatives for their inconsiderable money; his Birth-right for their Mess of Pottage.

If we look into the several good Husbandries of Free States, we find their designe, to get them­selves credit, one of the first and most thriving. To compass this credit they prudently observing that all coyn is (really) but such tokens of account between men, as are certain to yeild so much as they are received for; and that other like tokens of account, as Letters of Credit, Bills, Bonds, &c. are, for their greater conveniencies, accepted, nay, often preferred before money, though their secu­rity is far from being infallible: upon these obser­vations [Page 2] they most politically raise themselves a Bank of money, enough to give them credit, and no more (for no considerate man can believe that they have so much money, as they give out Bills for, what then do they get? but lose their charge of guarding their Banks, and keeping accounts) And with this (truly deceitfull) credit they drive on all profirable Trades and Designes, and so grow really rich.

By these then (though their Bill-credit be visi­bly capable of deceiving their Creditors, and no way able to give such satisfaction that a Land Bank may) we may learn, That

• 1. It is practicable; for all free States have it.
• 2. It is profitable; or else they would not all continue it.
• 3. It is compassable; for they have brought their people to it on slender and unknown se­curity.
• 4. It is not grievous to the Subject; for they never complain or grumble at it.
• 5. It lesseneth not, but encreaseth, coin; for what Monarch lends such sums, as little Genoa to the King of Spain? that great Master and Merchant of Gold and Silver.

Having then before us such Clear, Profitable, and Long practised Presidents, why may not we also erect the like office (and as much more satis­fying as land security is to an uncertain money [Page 3] Bank) and this office either, to bee the same, or like, our Statute office, (which yet never deceived) where all who have lands of clear title, may by engaging them there have 5 l. Bills of Credit made transferrable and currant to half the value of the Land; for such a Land Bank cannot fail, or de­ceive the receivor of such Bills: and the Debtor on these Bills, or the Office, may easily make good any of them, being in effect but changing the 5 l. Bills into shillings, the Bill being still cur­rant. And to encourage both borrower and lend­er, every Bill shall shew the person and land en­gaged, and shall be eminently free from counter­feiting, loss by theeves, or any other casualty, or accident.

The borrower shall pay but 4 or 5 l. per annum use for this Bill, or more properly Land-money, (for we doe not call our Statutes Mortgages, &c. paper or parchment money, but we reckon, (and truly) that thereby we have in our pockets, or boxes, so much land.)

And yet the Lender shall have 6 l. per cent. use for any money or Bills he will lodge here, which may be done, because there will be twenty bor­rowers for one lender.

The Orphan also hath here a sure place for his Portion, so that his Guardian cannot (as now u­sually) cheat him, by accounting unto him little or no use, pretending that his money lay dead [Page 4] for want of good security: And all others (whose only revenue is their money) are hereby free from ruine by broken Debtors, or deceitfull security: And as by this all landed men may easily have money to compleat all provident good improve­ments, and trade, so will any ingenious person, though he hath no land to mortgage, because there will be 20 Masters of money for one now. By this also (besides many innumerable improve­ments by it, and so encrease of all vendibles which bring us Bullion) we may goe through with the Herring, and other fishing Trades, sufficient (al­most alone) to enrich the Kingdome: for if we had but two millions Credit (only for a few years) we might bring our fishing to such a Revenue, that of it self would be sufficient to pay our first charge, and for ever employ our poor, breed up Mariners, make us rich, and much more power­full both by sea and land: And all this without altering, straining, or thwarting, any Law or Cu­stome now in force amongst us, or raising any new Tax from the Subjects; which really is the only cause of the Vulgars discontent, and the principall ingredient our Kings old (and never to be reconciled) enemies have ever used to poy­son the poor deceived people, and make them swell into Rebellion.