LIB. I. SECT. I.

THough heavenly things should beyond all proportion, be pre­ferred before earthly, yet where they are both consistent, neither of them ought to be at all neglected; for as the Earth since the Fall, requires much skill and diligence to be impro­ved, to the best advantage for outward subsistence, so until matters be ordered in such sort, as all men that are willing to take pains in an honest Calling, may be put into a capacity of enjoying a Lively-hood thereby; No man can be excused, who (knowing any means tending thereunto) doth neglect either to discover the same, or endeavour the effecting thereof.

Having therefore, in reference to the duty I ow to this Nation, determined to demonstrate those remarkable things (for less I cannot justly call them) which by many degrees, and at several times, were by Divine Providence dictated un­to me, as most pertinently conducing to the end before expressed: I find it expe­dient, to begin with A Discovery of the means in general, which tend either to Further or hinder a Peoples comfortable Subsistence, by their Industry.

[Page 2]In order to which, it is to be observed, that as in the Body Natural, no Mem­ber can subsist by it self, without both serving the whole Body, and receiving (as a reward of such publique service) a competent nourishment from it; So in the Body Politique, no Artificer or Trades-man can accommodate himself, with all things necessary to a comfortable subsistence, by his Industry in any one Cal­ling, without transmitting the over plus of the fruits of his endeavors therein, to other the Members of the said Body Politique, and from them receiving instead thereof, a proportionable reflex of the surplusage of their labours and commo­dities.

Hence it is evident, that though a Land be never so fruitful of it self, and ly never so fit for the Trade of Fishing and Traffick with other Nations, yet Com­modities therein cannot be improved and multiplyed, without the Industry of men in their several proper Callings; nor can any man afford this Industry fast­er, then he can find means for the Exchange of the fruits, of his own labours [...] possessions, insteed of such other necessaries as for his Trade or Family, he stands in present need of; and consequently in case of deadness in Trading, he is for­ced to slacken his endeavours, lest by taking in and preparing more Ware for sale, then he knows how quickly to dispose of, it ly upon his hands, till it be quite out of fashion, grow stale, or be otherwise spoyled, to his great prejudice.

For, if Trading be so obstructed, as men cannot put off (possibly) the tenth part of that Ware in the yeet, as for money or valuable consideration they could procure and prepare for sale: In this case as the Merchant cannot afford to bring in Comodities ten times faster, then the Retayler can take them off his hands; so neither can the Retayler take them off faster, then he can find sale for what he hath already; in so much, as if either the Whole-sale man or Retayler should have a stock of goods, as great as when Trade was ten times quicker, it must needs follow, that they would be ten times as long in selling it: whence (as I said) it would be spoyled, by lying upon their hands.

Whereas, if there were a way found, whereby men might put off their Com­modities for valuable consideration, even as fast as they could prepare them, it would occasion their returns to be so quick, and suddenly so great, and likewise so encourage all men, to employ the utmost of their Stock and Credit, in such a thriving way, as the store and plenty of all sorts of Ware, would soon amount to the greatest extent, that the Land and Sea by the Art and Industry of men, could possibly be made to afford; and each man (I say) being in present capacity to put off the same for valuable consideration, it would not onely prevent the da­mage of having so great a store of Commodity spoyled, by lying upon his hands; but by multiplying his riches through such quick Returns, enable him to bestow a comfortable maintenance upon Himself and Family, whereby the Commodity thus augmented, is (through the enlargement of mens expenses) distributed amongst them, towards their comfortable subfistence, as fast as it is thus encreased in quantity.

For, seing that the effect of all Trading, is but the parting with Commodi­ties for such Money, Credit, or valuable Consideration, as procures other Com­modities or Necessaries instead thereof; whereby each mans Ware being trans­mitted from himself, he in conclusion receives other Ware or Necessaries for it; it follows that the more Commodity they after this manner transfer each to other (seing upon one mans parting with it another receives it) the more they receive each from other.

And again, it being hereby handed from one to another, till it be at last trans­mitted [Page 3]unto persons for their private use, towards the comfortable maintenance of themselves and Families, it comes to pass, that if by this means they exchange each to other, every yeer as great a quantity of Commodity, as the Land and Sea by the utmost endeavours of men can be made to afford, they must needs re­ceive one yeer with another towards their subsistence, no less; so as the Earth affording but Commodity enough, both the fruits of their Industry, and as a reward thereof) their enjoyment of outward good, shall be proportionable to the open and stree passage that is made, for speedy putting off their Commodi­ties one to another.

These things being duly considered, it is manifest, that if there were (I say) any possible means, whereby men might put off their Commodities even as fast as they could prepare them, and that for valuable consideration viz. in such a way as whereby in lieu of the Commodity so parted with, to receive each from other, that which will procure such other Commodity of like or greater value, as for their Trade or Family they should stand in present need of.

Seing that in this case, (they being (I say) able to put off their Commodities as fast as they can procure them, for valuable consideration, and it being so much for their profit so to do, (they would not spare to improve the Earth to the ut­most that it could be made by Wit or Industry to yeild, it could not produce any other thing, then to occasion that all this plenty of Commodity, (multiplyed by the joynt endeavors of so great a number of men,) would be in such sort transfer­red from one to another, as by that means it would be distributed to every indu­strious man, as the reward of his labours, towards the encrease of his Stock, and comfortable Maintenance of his Family, even proportionable to his diligence in the Multiplication, Improvement, or Distribution of such Commodity, amongst the rest of Mankind.

Seeing therefore, that mens increased endeavours are in this case rewarded, by the increased quantity of Commodity, which hereby they are in capacity to share amongst them, it follows that (especially in a Land which is not onely plentiful of it self, but lyeth fit for the Trade of Fishing and Traffick with other Nations,) nothing so much hinders a peoples comfortable subsistence by their industry, as when matters are ordred, so as they cannot find a way to put off their Comodities, as fast as they could procure or prepare them for sale; and that the contrary, would tend as much to further their comfortable subsistence by such industry, which were the things here to be discovered: and though perhaps generally observed, yet (the causes, grounds, and nature of them not being so obvious) the cleering thereof, could not be omitted, in the sound handling of a subject of this kind.

LIB. I. SECT. II.

AS he alone is said to be wealthy, who hath not for the present only, but for some time to come, meanes of subsistence for himself, and perhaps for his posterity; so he that hath greatest possessions for the present, if for want of good Improvement, he spends out of the main Stock is not like to enjoy so much of his wealth, as he whose Estate though as yet but small, is in a fair way of thriving.

Seing therefore, little wealth would serve, if it were onely for present subsi­stence, and considering that continuance of wealth, consists cheifly in the im­provement thereof, it follows that except the said improvement, do but just maintain the charge of the Improver, (which seldome so remains long in an even ballance;) it doth either more then maintain that charge, whereby it is not only continued but increased, or less then maintain it, whereby it is not ful­ly preserved; so that it is with wealth much as it is with fire, which cannot lightly be upheld, but by the same means by which it is increased.

And even as (I say) with fire, the greater it is, (a sufficiency offewel being added to it) the more violently it doth increase it self, by the excessiveness of its heat; so it it is with riches, for the greater a mans estate is, (he not wanting means to improve it) the faster doth such estate multiply, by the super-abun­dancy of his profit.

And contrarily, when a mans estate is so small, as the improvement thereof will not serve to maintain his charge, it follows, that spending out of the main stock, such wasted stock is like to yeild the less improvement upon the second return; whereby he being forced still to spend, so much the more out of the principal, his estate must needs decay so much the faster, by how much the less it is.

Now, though this be a thing that haply hath come, within the compass of most mens observations and experience, yet I thought good to mention it, for that being applyed to the purpose hereafter expressed, it serves to demonstrate the fickle condition not of particular persons only, but of whole Nations.

For as the wealth of a Nation is greater or less, according to the value of the estates, (whether in goods, money, lands, or whatsoever else) of those men that live therein; so the end to which the riches of a Common-wealth serveth, be­ing not so much the present, as future preservation of earthly injoyments (which cannot be without the improvement thereof, by the profit of the yearly return of their stock;) it followes that except this return, do yeild exactly so much encrease, as doth but just maintain their charge, out of the profit of each re­turn, (which seldome happens to be of long continuance) it must either en­crease their wealth, (and consequently put them into a capacity by their en­creased [Page 5]stock, to encrease it yet more then formerly) or diminish their estates, by forcing them to spend out of the main stock, so as their profit upon their lessen­ed stock, being every year lesse, and consequently their expences out of this stock every year more, (and therefore also their profit yet less) such a people must without effectual meanes of prevention be used, be inevitably brought to utter beggary.

And whereas it may be supposed by him, who hath not duly weighed the mat­ter, that the decay of some persons in a Common-wealth, is so much the great­er advantage unto others, and the thriving of many a prejudice to the rest, yet if the particulars following be well considered, it cannot but be granted, that (contrary to this mistaken imagination) as on the one side the decay of rich men, and the multiplying of the poor, is by the impairing of trade so much the greater prejudice unto all that cannot live, but by their paines in some cal­ling; so on the other side, that the multiplying of the rich, and the diminishing of the poor (which is effected by a quick Trade) doth (by encreasing the annual expences, consequently the trade of a Nation) occasion no damage to any, but much advantage to all.

And the truth of this, will appear to such as shall consider, that when a people by the abundance of their trading, are become generally so exceeding rich, as those who now need no trade to maintain them, are perhaps ten times as many as the other; their yearly expences (in not only family maintenance, but feast­ings, Journyes for recreations, and all such like comforts and delights, therefore also their trading) is perhaps ten times greater, then of those, amongst whom the major part do live upon the charity of Trades-men, and few or none rich enough, without a trade to live.

For, (I say) according to a people expences, such is their trading, (seing it is impossible their should be more ware put off in the year, (exept what is sent to other Nations) then the people do one time with a nother, spend amongst themselves, Families and Freinds; whereby it comes to pass, that if a Nation be so extream poor, as they are not able to affoard themselves a competent liv­lyhood; in this case though the land wherein they live be never so fruitful; yet, the revolution of commodities through the hands of Trades-men, that is Trade, (and consequently industry) being hereby obstructed; it followes that both Trades-men are ruined, the people as much distressed as if they lived in a bar­ren soile; and (for want of the many imployments occasioned by Trade) the generally of them, enforced to spend all their own Stock, and perhaps more, which they have borrowed of others, for their present subsistance, whereby the poverty of such a people, being by such poverty so much the more encreased, and consequently (I say) their Trading and imployments, so much the more di­minished, they are, (without some effectual meanes be used to remedy the same) put out of all hopes of recovery.

Contrarily, though a people through the superabundancy of their riches, should spend upon the comforts of this life, never so many thousands in a day one with another, yet by this meanes, there is the more commodity sold, where­by Trade is the greater, consequently each man in much better capacity to gain abundance of imployments, with competency of lively hood thereupon, then if there were not in that Land, (by the universal poverty of the people) sufficient practice for one man in an hundred: so as by the riches of the gener­ality of men, not only the rich themselves, are put into a capacity to enjoy the fruites of the earth, but by the current of commodities to such rich persons [Page 6]through the hands of Trades-men, such Trades-men are inriched, and by a multiplycation of imployment, (by reason of the abundance of Trade) the poor maintain'd.

Now from all this, that which I said before is evident; viz. That the same meanes by which for the most part, the wealth of a Nation is preserved, is no other then that, by which it is increased, so as it is almost impossible that it should continue long at one stay, without growing either greater or less.

For, if a people be at once generally so poor, as their yearly expence in a competent maintenance of themselves Families and Freinds, is not great enough to make Trade such, as whereby Trades-men one with another, may get so much as will maintain them, such a people (nothing preventing) must needs grow every year poorer then formerly, till both Trade and Stock be reduced to nothing; and that so much the faster, by how much the more their riches, and consequently their trading is hereby decreased.

But, if the generallyty of a people be once so rich, as their yearly expence is such, as makes Trade to affoard something more then a meer subsistance to Trades-men; the Stock of such a Nation, that is their Riches, therefore their Trade doth yeerly increase; and each encrease making a greater addition to the Stock, and by consequence to the Improvement, it goeth on, nothing interru­pting, till, like fire that wants no fewel, it be able to drink in, even so much com­modity yeerly, as all the Merchants that live upon this Globe of the Earth, are able to procure, and willing to afford for money,

And this when once Trading comes to be somthing quicker then ordinary, much the faster, for that Tradesmen by reason of their great and quick Returns, growing suddenly very rich, leave off their practisce, and others from nothing falling into imployment, and from imployment to stock, and from stock in­to a way of quick trade, do soon arive unto the same condition; whereby the number of such who are so poor, as not being able to follow a trade, must live upon the charity of others to the burden of the Common-wealth; being dayly diminished, and the number of such as become so rich, as they need no trade to maintain them; being dayly increased; the charge of the Common-wealth in maintaining such poor, is not onely lessened; but Trade, by the encrease of such rich, so much the more multiplyed, the number of such rich, by such quick­ened trade, so much the faster encreased; and Trade thereby again so much the more multiplyed: and so ad infinitum.

So then, the causes or means tending to continue and encrease amongst a peo­ple, either Riches being already rich, is their present riches, with the conse­quences thereof; or Poverty being already poor, is their present poverty, with the consequences thereof; which were the things here to be discovered.

LIB. I. SECT. III.

THat Security for making good, Mens Estates, which is usually called Money, being given to Persons for their Commodities, upon no other accompt, then as an Evidence or Testimony, to signifie how far forth men (by their joynt Agreement to take it, being otherwise of no worth, for Commodities of real value) are Indebted for, and engaged, to recompence the fruits of their labours or possessions, in some other Commodities or Necessaries instead of those, that for such money they parted with; it comes to pass, that he who hoards up this publique Obligation, with­out demanding present satisfaction in one way or other, doth (as he well deser­veth) grow every day poorer then formerly, by living upon the principal Stock.

For this reason, it is, that there are very few, who though they be of no Trade, and though the times be somthing dangerous, can afford to keep their Estates, or any considerable part thereof by them in money, but either, they let it out for Interest, buy land with it, or some other waies employ it, so as the principal may yeild an advantage; and much more, must men that live by their Trades, the improvement of whose Stock is their maintenance (being generally not long able otherwise, to defray the charges of house-keeping) rid their hands of money for Ware, as fast as they receive it.

Now, from this confideration, it is evident, that in reference to a Common-Wealth, or any Society of men, the greater quantity there is amongst them, of money, credit, or that which is taken by them for Commodities, the more commodity they sell, that is, the greater is their Trade: For whatsoever is ta­ken amongst men for commodity, though it were ten times more then now it is, yet if it be one way or other layed out by each man, as fast as he receives it, it must needs come to pass, that (resting no where) it doth occasion a quickness in the revolution of Commodity from hand to hand, that is Trade, proportionable to the greatness of its quantity.

Hence it follows, that if the Stock of moneys, which drives a Peoples Trade, should every day encrease, yet (granting that matters were so ordered, as men would not hoard it up; and then (it must needs follow, that by every mans con­tinual putting off such money from himself, (endeavouring alwaies to keep his whole Estate, if possible, in Ware or Commodity) they (as by a Sluce) do by degrees draw in such a flood of goods amongst them, from Land and Sea, as their Wealth in other things, will far exceed their Stock in monies, if none of them do rest (as it is supposed they do not) until each of them hath so convert­ed his estate into goods, as the money he hath in his hands, is not considerable thereunto; for when once it is so, it must needs follow, that what they are worth in money (though never so much encreased) is not valuable to what they are worth in goods.

[Page 8]Hence it is, that in any Nation where money is not hoarded up, that if all the Houses, Ships, Goods, Lands, and whatsoever else is any part of any mans estate, were prized but at an ordinary rate, the total sum would no doubt, ex­ceed the value of all the moneys, that is in their whole Land an hundred fould; whence it necessarily followes, that though money be never so much encreased amongst them, yet by each mans endeavouring not to keep any considerable part of his estate by him in money, their estates in Ships, Houses, Goods, or the like, are multiplyed proportionably.

And this encreasing of goods in a Land, by the encreasing of money therein, comes to pass by this means, that one mans putting off of money from himself, for Ware, is not onely the furnishing himself with another mans commodity; but the putting that other man in present capacity, to refurnish himself from Land or Sea, with some new commodity, by parting with that money which will produce the like effect, for a third person, and so perpetually.

Hence, when the stock of a people in monies doth so fast increase, as Trades­men have (as I may say) much a do to keep the current of moneys, which then runs amongst them (it growing daily greater) at that low proportion, in reference to their goods, which by each of their constant endeavours (upon their reciev­ing moneys every day anew) is pursued; In this case then, they so strive (as it were) to put off the money one from another in such great proportion, as trad­ing becomes so quick, that Trades-men returning and consequently gaining, as much perhaps in a moneth as otherwise in a year (and this gain being converted into goods, by each mans putting off the money for it) they dayly encrease their wealth ingoods, if not immediatly proportionable to such an encrease of money; yet until this be effected (in regard they never rest striving, to put off the mo­ney one upon another (to the drawing in of new commodities and encreasing their trading, consequently their Wealth in goods, so as all the money they have amongst them, will not be considerable to the value thereof, their estates must needs (if not totally arive, yet) perpetually hasten towards the aforesaid porportion, and that (the world affoarding but commodity enough for money) so much the faster, as by reason of such swift encrease of monies, it wanteth time to comefully up thereunto.

But contrarily, in a time of Civil or Intestine wares, rich men as fast as they receive money upon any occasion, knowing not how to dispose of it, either by laying it out in Land, commodity, or otherwise; so as whereby to secure their estates from the danger of surprizal, do usually keep it up in their own pos­sessions, and by consequence, obstructing the revolution thereof, do thereby hinder Trade, by preventing the sale of so much commodity, as by the current of such money from themselves, through the hands of others, must needs have bin returned: and Trade being once obstructed by what means soever, doth make men find by sad experience, that if they keep as great astock of ware by them now, as when trade was quicker, it must needsly much longer upon their hand, till hapilily it be growen stale or out of Fashion.

Hence it comes to pass, that when through hoarding up of moneys or any other meanes, the quick current of trade is suddenly and considerably abstru­cted, though a people be at that time never so rich, and live in never so fruitful a Land; yet such as have their stocks in commodity, much more then proportia­ble to so decayed a trade, do upon their recieving monies keep it, or the most part of it by them, without maintaining their stock in goods, to the same pro­portion as formerly; by which meanes, the current of money, and consequent­ly [Page 9]of Trade; being yet so much the more obstructed, doth occasion (men keep­ing still the less ware by them) to convert so much the greater part of their estates into moneys, whereby, the revolution thereof, and by consequence Trade, is yet so much the more abated; therefore men induced to hoard up moneys so much the more; and so on, till the estates of all rich men, being in a maner wholly converted into moneys, and the generallity of the people drained of it, they must needs in the end (if this course go on amongst them) expect such a total obstruction in the current of moneys, as they may well wait in their shops, without receiving one with another, neer so much as may serve to preserve them alive, though they spend all they take, both Principal and Profit.

Hereby, the quantity of goods that is amongst Trades-men diminishing, not onely in the hands of the rich, by their dayly endeavours to convert their estates into moneys; but also in the hands of the poor, by their being perpetually forc­ed, to spend out of the main stock, for their meer subfistance; (if this course (I say) go on) men who were formerly worth (perhaps) one with another 20. times as much in commodity as money, shall scarce have any thing but money amongst them; and yet their money no whit encreased, so as they must needs be so much the poorer, by how much their estates in goods are diminished.

I conclude therefore, that as on the one side, mens endeavours to post off money one upon another for commodity, by a constant striving to keep their whole estates (if possible) in goods, (especially, if such money dayly encrease amongst them) do multiply their trading, & by consequence their riches, so as the world affoarding but commodity enough, & that frō other nations, though their own soile be never so barren, their estates in goods, will soon by many de­grees exceed the value of all the money, that is so revolving amongst them, though never so much encreased; and on the other side, mens hoarding up of monies, or endeavouring to convert their estates into money; doth by ob­structing trade, make men spend out of the main stock, more and more, till sud­dainly, though never so rich formerly, and living in never so fruitful a Land, they have scarce so much commodity left amongst them, as is equal in value to their stock of money, which being also for the most part hoarded up, by the richer sort, affordeth no advantage to the generallity of the people.

Thus, the causes or means to make a Poor people, though in a barren Land Rich, and a Rich people though in a fruitful Land Poor; do manifestly appear, which were the things here to be discovered.

LIB. I. SECT. IIII.

BEcause, the full force and vertue of that Expedient for inriching a poor people, which I shall hereafter propose; depends cheifly upon the Effect, which money being not hoarded up, but multipli­ed in a fruitful Land, doth produce amongst them; that it may the better appear in what proportion, an encrease of money not hoard­ed up, doth encrease trade, and multiply mens estates in any land, where Com­modity enough by the fruits of its own soile, and Traffick with other Nations, is to be had for money; let it be supposed, that there is a people amongst whom there is now, ten time as much money as formerly (or rather that money might be multiplyed amongst them to any quantity required) that matters were ordered so, as none of them care to hoard up this money, that their land being fruitful and fitly situate for the trade of Fishing, and Traffick with other Na­tions, there is commodity enough to be had for money, though trade were 100. times greater then now it is; and then I say the consequence will be, that both trading and riches will encrease amongst them, much more then propor­tionable to such encrease of money, and that without encreasing the price of commodity, as I shall prove in place convenient.

And first, for Trading (I say) though their money be but ten times more then formerly, their trading shall be neer 100. times more then formerly: for if this multiplyed stock of moneys, would in this case revolve, about in neer the tenth part of that time, as their former small stock would have done, (which I shall prove it would) it followes, that there is a double advantage in it: The first is, in that being ten times greater then the former; each revolution thereof (commodity not being dearer) causeth full ten times as great a sale of com­modity, that is full ten times as great a Trade, as each revolution of the former small stock would have done.

And therefore further, if this multiplyed stock revolve about, in neer the tenth part of the time as the former small stock would have done (that is neer ten times about for the others once) it followes, that men receive neer 100. times as much money, in the same space as formerly; consequently, that com­modity not being deerer, their trade is neer 100. times as quick as formerly if at least, there be not a greater number of Trades-men then formerly; which if there be, then (seeing it is supposed, that money may be multiplyed to any quantity required) let it be encreased accordingly, and the effect shall be still the same.

So that, what is here supposed being granted, and it being proved, that in this case commodity shall not rise in price, there remaines nothing to be cleer­ed, but that hereupon it would follow, that this multiplyed stock of moneys, shall revolve about in neer the tenth part of that time, as the other small stock would have done.

[Page 11]In order to the demonstration whereof, it is evident, that if the quantity of money amongst a people in any Nation, be once so great as being dispersed, that which they have one with another, is a sum very considerable to lay out in a way of Trade; in this case, every of them thinking to imploy his whole stock, laies out that confiderable sum, which he already hath without intermission; and their doing this without delay, is that whereby they receive each from o­ther, the same sums again with as little delay, and by that meanes do put them­selves into present capacity to do the same, the second and third time, and so perpetually.

For seeing, their thus puting off the money one upon another (though they perform it with never so much speed) cannot make the quantity of money that is amongst them the less, it must needs follow, that they have in their hands still one with another, ten times as much money as formerly, that is, a considerable sum, to lay out immediatly in a way of trade.

Whereas, when all the money amongst any number of men, is of so small a quantity as being dispersed, that which they have one with another, is not considerable to imploy as a stock in away of Trade, (and much less to purchase Land, put out to enterest, and the like) in this case, every man deferring to lay out that little which he hath, doth in a manner totally obstruct the current of that small stock, which is amongst them; whereby it is manifest, that this inconsiderable stock of moneys, shall not revolve about in the tenth part of that space of time; as (by each mans striving at once to put off his own share from himself) that other great stock doth.

Therefore, (I say) this multiplyed stock of moneys, shall revolve about in neer the tenth part of the time, as the other small stock would, and consequently trading be in this case neer 100. times as quick as otherwise; that is increased much more then proportionable to such increase of money, which was the first thing here to be proved.

The second thing to be demonstrated was; that they shall hereby suddainly multiply their riches, to be more then proportionable to such encrease of mo­ney, (I say) suddainly; for though (I confess) it is impossible, that by an en­crease of money mens estates should be increased proportionably, in the same in­stant without any intermission, yet money being encreased to be now ten times more then formerly, (seeing that hereby trade could not choose but be neer 100. times more then formerly, as is already proved) it must needs follow, that mens returning 100. times as much commodity in the same space as formerly, would so exceedingly hasten the increase of their stock, and consequently their estates in commodity, as their wealth in Goods would quickly reach to the utmost extent, that the world for money could affoard.

And having ten times as much money amongst them as formerly, though they had also already ten times as much Goods as formerly, yet that is no argument to prove that they would be content to keep, such considerable sums by them as through this meanes (every mans proportion one with another being multi­plyed by ten) would be dispersed amongst them: for though their stock be but yet ten times as much as formerly, yet they find sale for 100. times as much com­modity as formerly, whereby they would stand in need of a stock of commo­ditys proportionable, so as untill (at least) they had increased their stock proportionable to their Trade, they would never rest posting off the mo­ney each upon other, with the greatest speed possible; which as I have already proved is the very meanes, whereby a Common-wealth though ne­ver [Page 12]so barren of it self, is suddainly enriched with plenty of Commodities.

And seeing again, that though the money thus multiplyed should stand at that stay, without being further encreased, yet Trade once quickned (as is already proved) having a property by multiplying the number of the Rich, and thereby the expences of the people, to encrease it self like fire, to the utmost extent possible; it followes, that a stop in the encrease of money, would no more occasion a stop in the encrease of Trade, then forbearing to blow the fire after it is sufficiently kindled. would prevent its further encreasing, seeing it is evident, that (as it is with fire in this praticular) by how much the more it should be hereby en­creased, by so much the faster it would still go on to encrease.

Therefore, the second thing which was here to be proved, doth follow, viz. That in the case before premised, mens wealth in goods as well as commodity would soon be above ten times more then formerly, that is, more then pro­portionable to such encrease of money; and that so much the sooner, if money also should in the mean time be yet further multiplyed: for then, though Trade like (I say) as fire, when it hath gotten strength) is apt enough to encrease it self, yet will do it so much the faster, if it be (as it were) intended and forced (like the same fire with a stiffe and feirce wind) by the multiplying of money still to a greater quantity, (I mean) that though, by the perpetual encrease of mo­ney amongst men, their estates might possibly never come to be above ten tims more then the money, which they at present have amongst them; yet by the said encrease of money, their estates would so much the sooner be above ten times more then all the money, that lately they had amongst them.

By all which, the efficacie of this meanes, for making a Poor people (suddainly) Rich, doth more fully appeare, which was the thing here to be demonstrated.

Hence therefore, as it is no wonder why there is so much care taken by all States, to prevent the exporting of coyne, who have not any mine of gold or silver at their own command, so the truth of what is affirmed by one Mr. Ro­binson of late, in a book of his, called Brief Considerations, concerning the advance­ment of Trade and Navigation, is here evidently demonstrated, his words are these, I conceive (saith he) it will appear upon inquiry;

That, in whatsoever Country, the greatest Stock of money and Credit shall be raysed, there will the greatest Trade of the world, be established.

Which being in Effect, the same with what I have already affirmed, I shall pass from that point, as sufficiently cleered; and here insert, (as no less perti­nent to the scop of this Trea tise) what the same Author in that place further ad­deth; viz.

That, the greater Trade of one Country, hath a capacity of undermining and eating out the lesser Trade of other Countrys;

That the greatest Trade will be able, to make the greatest number of Shipping.

That what Nation soever can attain to, and continue the greatest Trade, and num­ber of Shipping, will get and keep the soveraygnty of the Seas; and consequently the greatest dominion of the world.

The truth of all which, will be proved in their proper places.

LIB. I. SECT. V.

FOr that happily, the meanes of which hath been hitherto discover­ed, to make a poor people rich, may be lyable in the apprehen­sion of those, who have not seriously considered thereof, to some material objection; which to remove, is so essential to the main scope of this Treatise, as the Enterprise it self hereafter proposed, cannot otherwise be vindicated; I thought fit, before I proceeded any further, to insert such considerations, as might tend either to the preventing, or answer­ing of those objections.

Which therefore to do, with as much brevity as possible, I shall in this Section (before I come to the full clearing of all other scruples in the next) prove that nothing can be alleaged against the aforesaid meanes, for inriching a poor people; but what argues as strongly against an increase of Trade amongst them, though it be at present never so dead.

If then, in opposition to what is thus undertaken to be proved, it should be objected, that an increase of money would occasion an increase in the price of Commodities, proportionable to such increase of money, (that is, if the money were twice as much, Commoditie would be twice as deare) consequently (go­ing never the further in Commodity by the increase thereof) would not occa­sion any increase in the sale of Commodity: therefore not any increase of Trade; and yet (by causing the price of Commodities to rise) incur an inconvenience, contrary to what is before affirmed.

I answer, that the Objection, (though for the better clearing of this point, I thought it not fit to be omitted) implies no lesse then a contradiction; seeing it is evident, (or at least by the sequel, shall be put out of all doubt:) That an in­crease of money cannot possibly occasion an increase in the price of Commodi­ty, otherwise then by increasing the sale thereof, and that (as hath been already alleaged) if such money being doubled, the price of Commodity be thereby also doubled, such increase of money doth not in this case increase the sale of Commodity: It followes, that it is no occasion of increasing the price of Commodity at all: Therefore, to say that an increase of money, doth by occasioning a greater sale of Commodity, occasion so great an increase in the price thereof, as not at all to occasion an increase in the sale thereof, is (I say) a plain contradiction: whereby it is manifest, that an increase of money, cannot occasion an increase in the price of Commodities, fully proportiona­ble to such increase of money.

Again, if it were so, yet this would incur no inconvenience, as in the Ob­jection is intimated; For seeing, though Commodities should be upon this occasion twice as dear, yet there is also twice as much money dispersed amongst men; whereby they are in as good a capacity to purchase as great a quantity [Page 14]of Commodity, as if, having but half that money, it should go twice as farre; so that the inconvenience, is no whit greater then the advantage.

But to admit, that an increase of money, must needes occasion a proportio­nable increase in the price of Commodities, as it is already made evident, that it would imply a Contradiction: so it is manifest, that there is a great absurdity in it: For either a people, having now ten times more money amongst them then formerly, though they have also ten or 100. times more Commoditie, yet in this case, Commodities must needes be now, ten times dearer then formerly; or else a people, though they have now ten times more money amongst them, then formerly, cannot possibly have more Commodity amongst them then for­merly; either of which to affirm, is (I say) absurd, and contrary to the truth of what, will fully appear in the Section following: Neither indeed, if this were truth, could the hoarding up of monies, which is equivalent to a decrease thereof in quantity, occasion a decrease of Commodity (as by what hath been said, appeares that it doth) and by consequence, an increase in the price thereof.

If it be replyed, that since the discovery of the Mynes in the West-Indies, (whereby the world hath been filled, more full of money then formerly, Com­modities are likewise growen, much dearer then formerly.

I confess, that if there be now ten times more money, in the World then for­merly; seeing it cannot be conceived, that the whole world is capable of afford­ing, ten times more Commodity then formerly, it must be granted, that an in­crease of money in the whole World, may occasion an increase in the price of Commodities, (though not fully proportionable, neither to such increase of money; for it doth not appear, that Commodities are so many times dearer, as money in the world, is now of late yeares multiplyed) yet seeing matters may be ordered so, as the whole world may be able to afford, ten times more plenty of Commodity to any one Land or Nation then now it doth, (& especially if the same Land might be improved so, as to yield much more Commodity out of its own Bowels, then for the present through the extream poverty of the People, and deadness of Trading, men can find sale for:) in this case if the money in that Land, were ten times more then it is, it might soone come to passe, that there would be ten times as much Commodity to be sold for money; whereby the price thereof, (as I shall have occasion hereafter to observe) would be kept from rising: And thus, this scruple (I suppose) is fully removed.

To proceede therefore, to the proofe of what is before asserted: I say first, that an encrease of money, cannot possibly occasion an encrease in the price of comodi­ties, (or any other Inconvenience) but by increasing the sale of Commodities For an increase of money can produce no evill, but what it doth by augmenting the quantity of that, which is either kept by or layed out: The quantity of that which is kept by, being Augmented, doth (indeed) imbolden men to spend the more freely, through which as people live the more Comfortabely; so the sale of Commodity (that is Trade) is so much the quicker; but besides, this (I say) the Increase of that which lyes by, occasions no Inconvenience, other then if it were so much Brass or Lether lying by, except what it doth by hindering the sale of so much Commodity, as by the currant thereof would be returned; yet this Inconvenience is not to be imputed to the Increase of money, but rather to the contrary, for that so long as it is kept by, it is all one, as if it were not increased.

[Page 15]Now, that on the other side, by increasing the quantity of what is layed out, it produces no evill, other then what it doth by increasing the sale of Com­modity (that is Trade) this is most evident and unquestionable, Therefore, this first thing to be proved, viz. That an encrease of money cannot possibly occa­sion, an encrease in the price of Commodities, (or any other Inconvenience) but by encreasing the sale of Commodity, is true.

Now then to proceed, from hence it followes, that if it were impossible for money to increase in any place, without increasing the price of Commodity, it would be as much impossible for Trade to increase in any place, but the price of Commodity, must needes also increase in that place; Seeing it is here proved, that an encrease of money, cannot possibly increase the price of commoditie, or incurre any other inconvenience, but by increasing the sale thereof (that is by increasing Trade) consequently, nothing can be alleaged a­gainst the aforesaid meanes, for inriching a poore people, but what argues as strongly against an encrease of Trade amongst them, though it be at present ne­ver so dead; which was the thing here to be evinced.

And for a further proof of this; though if I should say, that when trade is once decayed in any place, there is no means to quicken it, but by an encrease of mony not hoarded up, I should not only deny the truth it selfe, but the validity of that other meanes, which this Treatise, by the whole scope thereof, is designed to de­monstrate; yet when it shall be seasonable to discover what this other meanes is, I shall then manifestly prove, that without an encrease of money (not hoarded up) or the use of this or such like meanes, it cannot be expected; that when trade is once decayed in any place, it should possibly be quickned & revived: and see­ing an objection against the use of that meanes, without which this or that en­terprise at all can be effected, doth by consequence argue, as strongly against the enterprise it selfe; that which was here to be proved (needlesse any more to be repeated) doth follow.

LIB. I. SECT. VI:

HAving already proved, that nothing can be alleaged against the afore­said meanes, for inriching a poor people; but what argues as strong­ly against an increase of Trade amongst them, though it be at pre­sent never so dead: it is now to be considered, whether any thing can be materially objected, against an increase of Trade amongst any people, where (I say) it is at present dead; for if it appear, that there is not, then it is manifest, That the aforesaid meanes for inriching a poor people, is thereby fully cleared, from all Scruples and Objections.

[Page 16]Now, if (all things considered) there were lesse inconveniency to a Common-wealth, in the continuance of deadness of Trading amongst them, then in the re­moving thereof, (seeing of two evills, the least is alwayes to be chosen,) not onely my labour in order to this enterprize, is frustrated; but the meanes to con­tinue such deadness of Trading, (in case there were any danger of its being quickened) ought with all diligence in this respect to be pursued; which yet if to do, would in the judgement of all men, be both a ridiculous and pernicious practice, then it is manifest, that (seeing I say again of two inconveniencies, the least, if either is to be chosen) nothing can be materially objected, against an increase of Trade amongst any people, where it is already dead, which was the thing to be proved.

And although, happily upon this ground, it may be conceived by some, that there needeth not any more time nor labour to be spent, in the further proofe of this point; yet because upon the serious discussing thereof, many things very material will appear, which must have been somewhere suggested; it will be necessary for those, that would fully understand the scope of this Treatise, to take cognisance thereof, before they proceed any further.

As that (therefore) is a quick Trade, which by a reasonable profit in the pound, doth more then maintain the charge of the Tradesmen; so that is a dead Trade, which by the same profit will not serve to maintain that charge; whence it necessarily followes, that if Trade amongst any people be dead, such a people without an extraordinary profit in the pound, being forced to spend every re­turn, something out of the main stock, are, (as I have already more fully pro­ved) so far from being in a way of thriving, as till Trade be made quicker, they must (of necessity) grow every year poorer then formerly, even untill they be reduced, to the outmost extremity of want.

And if to remedy this, the Whole-sale-man, Retayler, and all others that are to have allowance, out of the price of any Commodity, do take an extraordinary profit in the pound; to the end, that such their profit, may something help to­wards the slowness of their returnes; they make all sorts of Commodities so dear (as according to what is proved in the Section following) it cost's them (near, if not altogether) as much extraordinary charge, to maintain their Fa­milies, as such increase of profit, which by this meanes they advance, doth a­mount to: Whereby, still they come (neare, if not altogether) as far short of being able, to maintain a Family Charge by a dead Trade, without spending out of the main stock, as if none of them had raised the price of their Commo­dities at all.

From all this it is evident, that there is no objection can hold, against an in­crease of Trade it self, if it be at present dead; but what argues as much, not a­gainst the inriching alone, but the meer preserving of a poor people, from fall­ing by degrees, into the extreamest want and beggery; whereby also for want of meanes to defend themselves, they are made lyable to be inslaved by other Nations.

Now, considering that amongst earthly evills, incident to any Nation, these two are the worst that can be imagined, (so as there being nothing fully to counterpose these inconveniencies,) it followes, that nothing can be materially objected, against an increase of Trade amongst any people, if it be at present dead, which was the thing here to be proved.

Yet further, seeing it is manifest, that nothing can with any colour be allea­ged, against an increase of Trade amongst any people, except this, that it may tend to increase the price of their Commodities.

[Page 17]To this I answer, that if it were so, that encrease of Trade, did necessarily occasion an encrease in the price of commodities, yet the Inconvenience [especially to those whose Trade is at present, in a declining condition] would not countervail the ad­vantage; Seeing, that for a people [whose Estates through the deadnesse of their tra­ding, doth daily decline] to have their riches increased, though the price of commo­dity, should also thereby increase, is a greater advantage then though commodity should be never so cheap, to have their estates in the mean time to wast and decay; the rather, for that an increase of Trade, doth occasion an encrease in the current of commodity, whereby a greater quantity thereof being [as is already proved] distri­buted amongst men, for their more comfortable subsistence; in this case, if plenty of commodity [which is the effect of a quick trade] were not consistent with cheapnesse in the price thereof [though the contrary be most manifest] yet to have a plentifull share of outward comforts, though deare, is an advantage above that of injoying a lesse proportion thereof, though never so cheap, as much every whit as the end is more excellent then that means, which without such end serveth to no purpose at all, there­fore nothing can be materially objected, against an encrease of Trade.

Lastly, and chiefly, it is to be observed, that in any place where both Intestine and Forreigne commodity enough, is to be had for money, an encrease of Trade doth not at all occasion an encrease in the price of such commodity: For though trade in any place do increase never so fast, yet tradesmen cannot make the price of commodity to rise, except [trading not being now so dead, as whereby to discourage men from bringing in much ware] they can order matters so, as it may not be brought in fast enough, to supply the present Market; for otherwise, if one Tradesman will not sell his commodity at a reasonable rate, another [glad of the opportunity] would sud­dainly furnish the Market; and [to make his returnes the quicker] sell it as cheap as he can afford, that is [as I shall prove in the next Section] nuch cheaper, then in case trading were dead, he could.

Hence, as there is a quicker Trade in London, then in any other City in England; So this (occasioning more commodity to be brought to London, then otherwise there would) doth prevent such excessive dearnesse thereof in that place, which otherwise could not choose but follow, upon such quicknesse of Trading.

And there is no doubt, but that if any Nation (through the abundant expences of the people, by means of their riches) do become unto the rest of the world, as London is to England, the Chief Seat of Trade, the reason for bringing in commodity to that place, more then to any other part of the world, is the same, for that of bringing in more commodity to London, then to any other place in England; Because, whensoe­ver in any Land, there is but sale for commodity, before there should want commo­dity in that place to supply the Market, as fast as need requires, all the Merchants in­habiting here on earth, would chearfully entertain the opportunity, to post it thither in great proportions, whereby (I say) the dearnesse of such commodity in that place, would be prevented, so as there remaining no other imaginable scruple, against an in­crease of Trade, I conclude, that the thing to be discovered in this place, doth suffi­ciently appear, viz. How the aforesaid means for inriching a poor peeple, is fully cleared, from all scruples and objections.

LIB. I. SECT. VII.

BY what hath been already said, (which yet in the conclusion to this Section, shall be more fully cleared) it doth appear, that where com­modity enough is to be had for money, men are forced to sell the same at as low a rate, (I mean as small a profit in the pound) as with refe­rence, to the quicknesse of their returns they can afford; so as the main Question is; Whether if Trade be extraordinary quick, (Commodities being sold as cheap as they can well be afforded) they will not thereby fall to a far lower rate, and yet tradesmen gain much more per annum then otherwise.

In order to the solution of which doubt, let it be considered, that if when by rea­son of extreme deadnesse of trading, the Whole-sale-man cannot live, in case he have not 2. s. 6. d. per l. profit, upon each return, he of whom the Whole-sale-man pro­cures his ware, nor yet the Retayler to whom he sells it, under 5. s. each; that is in all 12. s. 6. d. amongst them all three.

Yet if their Trade were ten times as quick, they might all gain twice as much in the year, upon the fist part of that profit, that is, upon 2. s. 6. d. in the pound amongst them, which coming short of 12. s. 6. d. by ten shillings, commodities might hereby be afforded at ten shillings in the pound, (that is, one half part) cheaper then other­wise.

But besides, if trading be (suppose) ten times as quick as formerly, and that here­upon commodities of all sorts, should be sold at half the rate as formerly; Tradesmen in this case, would not only gain twice as much per annum, but out of that doubled profit maintain their Families, at half that rate as formerly; And conse­quently, might still afford to sell their commodities at a far lesse profit, which lesse profit of all the severall sorts of tradesmen put together, (as before is observed) would make commodities, yet considerably cheaper, so as men might maintain their families still at lesse charge, consequently live by the lesse profit; and so untill that which cannot now be afforded under twenty shillings, might be sold at twelve pence.

And further, we have here onely reckoned the price of commodities as they might be afforded, by abating the profit only of three severall sorts of Tradesmen, there­upon, and that but in the half of the proportion, as is correspondent to the quicknesse of their trading, and we find it very considerable: But for Merchants, or such as traf­fick with other Nations, it is to be observed, that they buy their ware of those Tradesmen, who usually procure it of such handicrafts men, as make it fit for sale; who have their materialls possibly of the Farmers, or some other waies out of the cattell or fruits of the earth; so as each commodity goeth through two or three hands, before it come to the Merchant.

[Page 19]Again, the Merchant having exchanged it beyond Sea, for some forreign com­modity, usually sells the same to the Whole-sale-man, or at least to a Shop-keeper in some chief City, that many times sells it (or the most part of it) to the Countrey Mercer, or some other retailing tradesmen; and they in great part to the Pedler, before it be sold out to each one, for his private use.

Now, if we take out of the price of forreign commodities ⅘ parts of the profit of all those Tradesmen that prepare domestick commodities for the Merchant, and al­so ⅘ parts of the profit, that the Merchant doth gain by exchange of domestick for for­reigne commodities; and ⅘ parts of the profit of all those tradesmen that hand this forreigne commodity from one to another, untill it be sold to each man for his private use; assuredly the commodity it self might in this case, be afforded for little more then a fifth part of what otherwise it could; and yet (men having now one with another, ten times more trading then formerly) gain twice as much per annum as for­merly; and as hereby they get double to what they did formerly, so they might maintain their charge, at neer the fifth part of the rate as formerly; whereby the afore­said doubt is fully resolved.

And to illustrate this yet more clearly, Seeing the worth of all commodities must needs consist, either in the principall and originall value thereof, or in the profit of those that have to do therein, or in both; and considering that (as will appear to him; who shall duely weigh the same) there is no principall value in any commodity, be­sides the profit of every one that hath to do therein, (I mean the profit of the Whole-sale-man, Retailer, Artificer, Farmer, Landlord, and such like) it must needs follow, that if you make the profit of every one that hath to do therein, only the fifth part as formerly, you make the commodity it self to be worth, but the fifth part, as formerly.

Now as this is most evident, that if every one who is to have an allowance out of the price of any commodity, takes but a fifth part of the profit as formerly, the com­modity it self will thereby be afforded at a fifth part of the rate as formerly; And this also is clear, that if tradesmen sell ten times as much in the year as formerly, they gain twice as much per annum, by the fifth part of that profit upon each commodity, as if otherwise they had sold, for full five times as great a profit: So this also is manifest, that if men gain twice as much per annum, as when formerly commodity was five times dearer; they may now maintain their charge, upon the tenth part of that yearly profit, as well as before upon the whole profit.

So as though in this case, they should afford Commodity at the fifth part of the rate as formerly, yet the Landlord for his Rent, and all others that are to have any allowance, out of the price of any commodity, taking but a fifth part of the rate as formerly; their advantage by maintaining their Families so much the cheaper, would be the same as if they had full five times as great a profit.

Yet, if in this case, the Landlord should have the same rent as formerly, as his own advantage would be, that it would go in house-keeping five times as far as formerly; so the price of commodities in reference to the allowance of rent alone, would not be much the dearer thereby.

Although in truth, the Landlord, in this case will not easily prevail upon the Te­nant to value his land, at a higher rate, then the present worth of the commodities it yeilds, for that if commodities be now worth but the fifth part as formerly, it is clear that he who paies as much rent as formerly, will not in this case be able to make so much money of the fruits of such Land, as the rent thereof doth amount to.

These things considered, it follows, that (at least) if matters could be ordered so, as by quicking of Trade both the value of mens rents, and profit of mens trades, could be made to fall by degrees, every day more then other, those things which now can­not [Page 20]not be afforded under 20. s. might at last be sold at 12. d. and yet no person prejudi­ced thereby, for that each man (being hereby able to maintain his charge at the twen­tieth part of that rate as formerly) might now as well live upon the twentieth part of that profit as before upon the whole profit: And as the Landlord would receive no prejudice, by such fall in the value of his Rents, in regard, that the price of all other things do hereby fall proportionably, so the Tradesman would notwithstanding, be by this means a gainer more then formerly, in full as great a measure as trade should hereby be increased, above what it was formerly; From all which in answer to the a­foresaid doubt, it follows, that where Trade is extraordinary quick, commodities may be afforded at much lesse rate, and yet Tradesmen gain much more per annum then o­therwise.

Now, that in this case commodities shall be sold at as low a rate, as they can well be afforded, will appear from hence, That as when trade in any place is very dead, the Merchant is carefull not to bring in any commodity, which [as far as he can probably foresee] will not go off at such a rate, as may something answer the charge of house­keeping, the skill of a trade, and hazard of a stock, which [in case returns be very slow, seeing an ordinary profit will not countervail] if he doth not apprehend some hopes of a greater profit, he doth forbear to bring in any considerable quantity of such com­modity, till it be grown so scarce as (the price thereof risen) his profit may become at least a means of necessary incouragement.

Hereby it followes, that as Tradesmen cannot afford to live, at neer so little profit in the pound, when trade is dead as otherwise; so they make a shift by degrees, through their forbearing to bring in a competency thereof, to raise the price of each commodity in some measure correspondent; Though by making them pay so much the dearer, towards the maintinance of their Families; the inconvenience is [I say] al­most, [if not altogether] as bad as the advantage.

So contrarily, where trade is extraordinary quick, men are incouraged to bring in the utmost that the Market will take off, though the price thereof do fall thereby: For, that if through the quicknesse of their Returns, they can have but such a profit in the pound, as whereby to make (yearly) some considerable increase of their Stock (besides the defraying of their family charge) it comes all to one effect, whether their profit in the pound be greater or lesse.

So as hereby, every one striving (I say) to take the most money, such as will not sell at a reasonable rate, must keep their commodities upon their hands, whereby not on­ly commodities (I say) fall in price, but men save almost, if not altogether as much (in the maintenance of their charge) as they seem to lose by the abatement of their profit in the pound.

From all which, it may be concluded, that where commodity enough is to be had for money, quicknesse of trading doth occasion a considerable fall in the price there­of, which was the thing to be proved.

LIB. II. SECT. I.

OBserving that it is no unusual thing, for men to give a more upright and impartiall sentence in matters, which are in such sort propounded, under some figurative and parabo­licall sense, as they discerne not to what particular cases, such their sentence may be applyed to the unexpected convin­cing them, by their own agreement, unto things which o­therwise they would never have consented to.

That many things are of such a nature, as they cannot so easily be obviated and illustrated, to the understandings of those who have not bin exercised therein, as by some familiar similitude, taken from examples, with which through frequent experience, they are well acquainted.

And that according to the Rules dictated by those, who have made it their de­signe, to propose the most clear and compendious Method of Argumentation; the Major proposition of a Syllogisme, (viz. that such a consequence or inference doth naturally follow, from a thing onely supposed,) is before the supposition it self to be demonstrated; which order of proceeding hath the same ground in reason, when something instead of such supposition, will appear fully to make out the same effect and consequence.

In these and some other respects, I concluded, that to discover the nature of the intended enterprise, for increase of Wealth by improving of Trade, ac­cording to the Title (in the most plain brief, and effectual method that I could devise) there would be a necessity (before the proposal of the matter it self,) to represent (by way of parable or supposition) some case, that (being as near as possible, parallel to it, in reference both to the inconveniences and advantages following thereupon,) I might (thus in a mystery) prevent all material objecti­ons, before I came to the plain discovery of the thing it self.

These things premised, I shall give you the sum of all, in few words.

Admit a certain MYNE of GOLD discovered in this Land, were wholly resigned up to the dispose of such men, as should become ingaged by Bond to restore within six Moneths warning, both the use and possession of the said MYNE: together, with so much of the said GOLD, as should be coyned, or any wayes disposed of: And (I say) that this would incur more inconveniences, and yet not afford greater advanta­ges, (to those that should have the disposing thereof, or to any other persons) then what would follow, upon the enterprize hereafter proposed, as by what doth ensue will appear: In the mean time I proceed to represent something of [Page 22]the nature of this undertaking, by an explication of my meaning, in the words before rehearsed.

A certain Myne of Gold, That is metall of such real worth, as will yield (with little or no losse) the money, if it should be sold to the Goldsmith.

A Myne, That is not a Treasury which may soone be exhausted, but which may afford such a quantity of money, as whereby the same may upon occasion be multiplyed to any proportion needfull.

Again a Myne, For this being not money ready coyned, requires some charge of defending, digging, coyning, and such like; yet as the charge of this enter­prize, shall not be near so great, as that which is incident to the ordering of a Myne of Gold, so I shall shew how the said Company, may be wholly eased of this Charge, without prejudice to any.

In this Land, I confess (as I have already intimated,) the discovery of a Myne of Gold in this Land, could not chuse but be a great provocation to all Nations, to conspire together against this people, for the surprizing of it, and would in­able them in case they should, to maintain sufficient forces, whereby for ever to inslave us, as the Spaniard doth those, whom they call Nicrolians or Natives in America; But (as is said) this enterprise shall not incur the least appearance of any such inconvenience.

Were wholly resigned up to the dispose of such Tradesmen, That is, so as whereby they might not onely be able to multiply money enough amongst them, for the increasing of their Trade and riches; but likewise to lend of the same, upon the tearmes hereafter expressed, each to other, as much as neede requires, with­out paying any Interest: which will be the more seasonable, for that by the in­crease of Trade, (through such a multiplication of money amongst them) they will have so much the more need to increase their stock.

Of such Tradesmen as should become ingaged by Bond, That is, as Sureties each for other; so as if any one failes to restore the proportion by him borrowed, the rest must make it good; And therefore it must be supposed, that they al­wayes take sufficient security, each from other, for what is so lent unto any of them.

To which end, let it be admitted, that they (I meane the whole number or company of them, this Myne not being at the dispose of any one of them with­out the rest) do lend of the said money being coyned, unto any one person a­mongst them, no more then for borrowing of which he shall put in sufficient security, (by producing Sureties, Morgaging Lands, or (if the company please to accept thereof) pawning Commodity of valuable consideration,) to re­pay within five Moneths after the demanding thereof: And do likewise renew such security as often as neede shall require, for as long time as he intends to borrow of the said money: And also that he stand bound with the rest of the Company, for making good his proportion towards either the losse (in case a­ny amongst them faile to repay what is by him borrowed) or any charge inci­dent to this undertaking, if need require.

Yet to prevent such Fayler each person besides his security,) which the Com­pany (no doubt) will in this case take care shall be very sufficient) produce an Ensurer, (such as the Company shall accept of) who for some small matter, in the pound, (to be paid by him that borrowes the money) will insure the Com­pany against any prejudice, that can happen to them by the loane of the said money, upon such security: Whereby it may come to passe, that in case not onely any one who borrowes this money, but his Sureties (though judged very [Page 23]sufficient) should faile of being able to make good the debt; yet such Insurers bearing the losse, the Company may for this small charge in the pound, be freed from hazard.

Restore within six Moneths, That is, what they have so borrowed, but not any Interest, or any part of their profit, though never so much, and for never so long a time.

And though I speak here of Restoring, yet it is to be observed (in reference to the case, which I shall propose; that as there will be no advantage (I say) to an enemy to surprise this Treasure, so there will be no benefit, but rather pre­judice to the owners (if any were) to have it Restored: so as it is not at all pro­bable, that any such thing will ever be required.

Both the use and possession of the said Myne, together with so much of the said Gold as should be any wayes disposed of; That is, this Company must make good, not onely the money lent each to other, but all the Gold (whether coyned or other­wise,) that shall be imbezzelled, if they use not some effectual meanes to pre­vent the same.

To which end, let it be granted, (for how much soever seemingly impossible, it shal be fully made good,) that there were a way found, whereby not any dram of this gold, whether coyned or uncoyned, could possibly be disposed of, to any though imployed in or about digging, defending, &c. the Myne, coyning the money, or howsoever, otherwise, then by the consent and expresse order of the said Company, without being presently discovered.

And for defraying the Charges of this undertaking, let the said Company cause such a considerable quantity of Gold to be coyn'd, as wherewith to pur­chase so much Land, as the rent thereof may fully defray the said charges, which charge, in regard (I say) it will not be near so great, as that of digging, defending, &c. a Myne, and yet the Treasure as great as need can require, may the more easily be done.

And for securing them in their thus disposing of the said money, the Land so purchased being in the possession of the said Company, will be sufficient.

Thus, (seeing by what hath been already discovered, it is evident, that Trade and riches through an increase of money, may be multiplyed to the utmost de­gree possible; and that by meanes of such a Myne, money might be augmented to any quantity needfull thereunto) I have in a Parable, represented the nature of the intended enterprize, for increase of wealth, by improving of Trade, ac­cording to the Title, which was the thing in this place to be discovered.

Yet, least by what is here suggested, I might seem to bestow my paines in building Castles (as they say) in the Aire or upon the sand, where there is no foundation, and not to be indeed in good earnest, I shall before I come to the end of this second Book, make it appear, that what is here represented in every particular, (though seemingly never so impossible or impertinent) will prove no other then like to that Parable of Nathan, neerer Davids own case then he was aware of; and therefore desire, that every clause in this Section may be the more carefully observed.

LIB. II. SECT. II.

HAving in the aforesaid Parable, represented the true nature of the in­tended enterprise, and thereby given a brief touch, as well of the In­conveniences as Advantages following thereupon, it will be needful in the next place, that both of them be seriously considered; In handling of which, I shall begin, first with the Inconveniences or disadvantages, which, if we take in order, as they are expressed in the former Section, it will be found, that the first particular, (which doth but seem like an Inconvenience) is that of the charge incident to defending, digging, coyning, and such like; yet seeing that this charge, (yea, and for a need much more then this) may be wholly defray­ed by the rent of the Lands purchased with the money so coyned, it follows, that this supposed disadvantage amounts to just nothing.

The second seeming disadvantage doth consist, in that the said Myne of gold, is Situate in this Land; yet (in a word) it being of such a nature as it is no bene­fit to such as should surprise it, this is also no disadvantage.

The third (and indeed, only) Inconvenience is, that those who undertake the dispose of this Myne, must be engaged by Bond, as Sureties each for other, to make good what they borrow thereof, in manner aforesaid: Which implies first some hazzard, because if any of them fail, the rest when the surrendring of the said Mine is required, must make it good. Secondly some difficulty, for that each member must produce security to the company for repayment, both of what is by him borrowed, and his proportion also towards the charge and loss, incident to this undertaking, (if any be) which security to procure may not be very easy to all men: And therefore (it may be remembred, that) in the Title page some both difficulty and hazzard, is acknowledged to be incident to this un­dertaking; yet (I say) when all things shall be duly pondered, neither the one nor the other, will be found considerable.

First, not the hazzard: For though (I confess of all others, this comes near­est to the nature of a disadvantage; Yet I am confident, it will be granted, that it is not valuable, especially, if compared with those desirable consequen­ces, that will follow upon this Engagement.

For this hazzard, is no other then that which it is well known, the several Companies in London, do frequently undergo, by lending out their moneys to young beginners, meerely to do them a courtesie.

And if the Company, that shall undertake the dispose of this Mine, be careful that they accept of no security each from other, but what shall appear very suffi­cient, the hazzard will not be so great as that w^ch men usually incur, by letting out moneys to interest; for in this case, if both the Principal and Sureties fail, the Lender (that is usually one man alone) must bear all the loss; Whereas, when money is lent out by a whole Company, if one in two or three hundred fail, (the loss being borne by all the whole Company proportionably) each mans share will not be much considerable; For that, as it is accounted a far grea­ter [Page 25]hazard, for a Marchant to adventure his whole Estate as Sea, in one Bot [...]om, rather then in many: So there is the same reason for like difference of hazard betwixt the lending of money by any one person, over what the lending thereof would be by a whole Company.

Yet, as those that let out moneys to Interest, do not usually trust any, without taking such security as they (at least) Judge very sufficient; (whereby it comes to pass, that there is not one case in very many, wherein both Principal and Sureties fail, of being able to pay the Debt;) So, if they did not conceive their Security sufficient, and if out of the profit of their Interest they could afford to Insure against hazards, as those of this Engagement, (not taking any Security, but such as (if they please) not onely one Insurer, but a certain Company of them shall approve of;) may for less (I beleeve if they think it needful) then one in the hundred per annum. In this case, though perhaps one amongst two or three hundred, might possibly fail both in himself and Sureties; yet this Company of Insurers, must make good the debt.

Whereby, seeing that such Insurers would (as they do by Insuring of Mar­chants adventures upon the Sea,) get one time with another more then they loose, it follows, that what is thus paid to the Insurers, would of it self more then defray the losses, incident to this kind of hazard; which (I say) by the rent of the Land purchased in manner aforesaid, might be fully discharged, so as, this which is indeed the main and only Inconvenience, being duly weighed, amounts but to a very inconsiderable Charge, and that also defrayed without Charge.

Again, seeing that if men put their moneys out to Interest, the hazard is great­er then that which is incident to this undertaking.

That if they imploy it in a way of Trade, as the profit in good times, so the hazard at all times, is much greater, then that of putting out moneys to interest, as is found true by experience, and acknowledged by all.

That if they purchase Land, (considering as the profit of rent is so small, as it requires a great Stock to obtain so much, as will afford a maintenance, so) an Estate in Land, if an enemy prevaile, is more liable to surptizal or sequestra­tion, then in any moveables.

And lastly, that besides one of these three, there is no other way, whereby men can ordinarily dispose of their monies; It follows, that (except men could ge­nerally afford to keep their stock by them in money, without Improving it, and so by spending out of the Principal, run wilfully upon speedy and certain ruin, for fear of incurring hazards, and losses some other way,) there is no possible means whereby they can dispose of their Estates, to be totally free, whilst they live in this World from all danger of losses.

And considering that notwithstanding there is (as I have already proved) greater hazard in letting out moneys to Interest, then in this undertaking, though (I say) the hazard of that (amongst all other means hitherto used for improving mens Stocks, is one of the least) there are so many thousands, who not valuing the hazard, in reference to the advantage daily practice this course, in hopes but of a small profit of Interest, and by that small profit, do one time with another, gain more then they loose by such hazard, as is evident, by mens continuing this practice.

These things premised, it must needs be granted, that though this underta­king were liable to far more hazard then that which may be Insured, or the loss thereof sustained, for less then one in the hundred, yet in regard it will appear that the profit of this undertaking, will be far greater then that of the ordinary [Page 26]way of Trade;) and especially in respect that this charge of Insurance, may be defrayed without any burden to the Company, it follows that such hazard,) though it were more then it is, is in this case not worthy to be accounted a dis­advantage, to those (who take what course they will,) cannot avoid greater dan­ger; except (I say) by keeping their moneys in their own hands, they are re­solved, in hopes to escape some fears of loss, to incur unavoidable ruin, rather then ingage in a course, which (though liable to so little Inconvenience) will (as I shall prove) afford far greater profit, then any that otherwise the generali­ty of men, can expect to injoy.

If it be objected, that the danger of the times makes the hazard considerable; I answer, this argues as strongly against mens disposing of their stocks, in a way of Trade, or any other way of improving their estates; whereby (as I have alrea­dy observed,) through the prevailing of an enemy, they may the more easily be surprised: so as although this danger of an enemies prevailing, were far great­er then (through the goodness of God) it is at present: yet seeing men could not afford generally, to forbear all Trade and Commerce, those that account of these considerations as valuable, may choose whether they will meddle in this undertaking; For there is no question, but the generality of men, are suf­ficiently convinced that those, who forbearing to imploy their Stock spend out of the Principal, do run a far more apparent hazard of utter undoing, then they who in fear of an enemies prevailing (though no man knows when or how) would endeavour to avoid, as is evident by the practice of most men; in that they continue still in some measure, not only to Trade, but purchase Land; lend and borrow monies upon Interest, and such like, as it is said in another case, men will still do, until the consummation of all terrestrial things.

Thus much as to the hazard; Secondly, for the difficulty, this being no other, then of procuring good and sufficient security, for the due payment of what is bor­rowed, is no more then that, which is required by the several Companies of London, when they proffer (as is said) to lend moneys to any young beginners, or others of their own Company; And yet few men having such a proffer made them, (esteeming the use of the money no small advantage) but will make hard shift, to procure friends one where or other to be bound for them (though they have perhaps little estate of their own,) rather then they will lose the opportuni­of such a proffer; but to those who have great Estates, this is no difficulty at all.

And to clear all scruples, seeing that notwithstanding the present, not only danger of the times, but deadnes of trading, divers men still continue this pra­ctise of taking up monies upon Interest, to imploy in a way of Trade, other­wise, how could such as let it out find any to deal with them:

That by this means trading (as I shall prove) will be so multiplyed especially to the Undertakers) as they shall have much more reason to imploy the utmost of their Stock and credit, in a way of Trade, then now they have.

And lastly, that neither the hazard of lending, nor the difficulty of borrow­ing that money, which is thus lent without Interest, is any greater, then that of borrowing money upon Interest. There is no objection can possibly beat any colour against the one, which doth not argue far more strongly against the other.

And further, let it not here be forgotten, that though the procuring of suffi­cient security, for the borrowing of any considerable sums of money, may be [Page 27]too hard a task for the poorer sort of Tradesmen to perform; yet there will be nothing required of them, in order to the putting themselves into a capacity of multiplying their trading, and that with ready pay (as is in the Title Page men­tioned) which hath any, either hazard or difficulty in it.

The next and last thing (which seems like an inconvenience,) is, that this Company are bound to make good, not only the money lent, but the Gold, (whether coyned or otherwise) that shall be Imbezzelled; yet having taken it upon my credit, to discover a way, how this danger may be totally prevented; so as upon this, there will follow no inconvenience at all. I may conclude, that all things duly weighed, the disadvantages incident to this undertaking, are not considerable; which was the thing here to be demonstrated.

LIB. II. SECT. III:

HAving in the last Section fully and freely declared, the greatest In­conveniences incident to this undertaking, with all the circumstan­ces thereof, whereby (as I conceive) it may appear to all rational men, that the same are not valuable; though the profit of this enter­prise were but ordinary; how much less considerable will those Inconveni­ences be, when it shall be found, that one of the least Advantages proceeding from the intended enterprise, doth much more then countervaile all the said disadvan­tages; which is the thing that in this last place, I am to discover.

Now, as there is nothing can be named, which is essential to a thriving Trade, but one of these four, viz. Competent Stock, quick return, reasona­ble profit, and ready pay, or good security; (all which by means of this under­taking will be obtained in a plentiful measure;) So the first of these four (though not equal to any of the other,) will be found of value, much more then sufficient to Counter-poyse all the said Inconveniences.

For the said Myne of Gold, affording money enough whereby men may borrow without paying Interest, as great a sum, and for as long a time, as they shall put in sufficient security to make good, they may thereby increase their Stock, two manner of wayes.

[Page 28]First, By having so much of that money lent them at present, as they are able to put in sufficient security, in manner aforesaid to borrow; where­upon, seeing according to mens credit (which is esteemed equal to their E­states) such is their ability for procuring Sureties, it will be no difficult thing for men ordinarily to produce such security, as whereby at least to dou­ble their Stocks, and perhaps much more; which was my meaning in the Title Page.

The second way is, that if by trading with this doubled Stock, any one of this Company doth encrease his estate, he may upon like security have so much more lent him, as whereby to double such encrease.

The consequence of this, is very great, as may appear by this instance; Suppose a man be worth in Land one thousand pounds, and Morgaging that Land borrows one thousand pounds to follow a Trade, if from hence through such great trading, as must necessarily follow upon this course, he do at the end of one twelve-moneths, gain clear two hundred pounds, (which gain is much within the compass, of what in respect of the said quick­ness of trading, we might reckon upon) that two hundred pounds so gained, shall be his own; and so (supposing that the profit of his Land hath main­tained his family,) he is now worth in all one thousand two hundred pounds, (besides the one thousand pounds borrowed) therefore if now upon put­ting in further security, he be trusted with two hundred pounds more, his Stock for Trade shall be one thousand four hundred pounds, viz. One thou­sand two hundred pounds borrowed, and two hundred pounds gained, by which Stock of one thousand four hundred pounds, (his trading not fal­ling to decay.) he cannot gain less, then three hundred pounds, for the next year, whereby his estate is now worth three hundred pounds more, that is in all, one thousand seven hundred pounds; And therefore be may now upon putting in further security, be trusted with three hundred pounds more, And so his Stock for Trade, will now at the end of two yeares, be no less then two thousand pounds, that is just double to the Stock first lent him.

So that by this means his Stock at the end of every two years, shall be double to what it was two years before, that is, at the end of four years, it shall be four thousand pounds, at the end of six years, eight thousand pounds, at the end of eight years sixteen thousand pounds, at the end of Ten years, thirty two thousand pounds, at the end of twenty years (by the same pro­portion of increase,) above one Million, and at the end of forty years, a­bove one thousand millions, the one half whereof only being borrowed, the other half is his proper Estate.

And yet in this instance, we make no allowance (I say) at all for any extra­ordinary quickness of trading, but that which makes the sum so suddenly arise, to such a vast and unexpected hight, is meerly the perpetual doubling of the in­crease of his estate, by new money lent him without paying interest; which is not unlike unto that of doubling the number of Buttons on a mans Suite, or Nails on a horse Feet, where though you begin but with the worth of one Bar­ly Corn, yet proceeding to double the value of every doubled sum, according to the number of such Buttons or Nails, it quickly amounts to a greater value, then the worth of a Kingdom.

[Page 29]If it be here objected, that except men (by the quicknesse of their trading) can put off their commodities in some reasonable time, it will be to their prejudice to trade with so exceeding great a stock?

I answer in a word, that men being once rich enough, may (if they please) leave trading, and give place to others; yet if their trading shall be hereby multiplied, e­ven proportionable to such an increase of stock, few in this case will suddenly think their stock too great, which brings me to the second Property essentiall to a thriving Trade, viz. Quicknesse of returns.

In order whereunto, it may be observed, that it followes by what I have already declared, (in Lib. 1. Sect. 4.) that where commodity enough is to be had for money, an increase of money not hoarded up, doth occasion an increase of trade, and that much more then proportionable to such increase of money; so as hereby men being in capacity to lend moneys each to other, till for a need the money that is amongst them, be even equall to what their estates are otherwise worth, (that is, till there be about one hundred times more money amongst them then ordinary) their trading by the revolution thereof, (that is, the quicknesse of their returnes) must needs be multi­plied, much above one hundred times greater then otherwise, if (I say) commodity enough can be got for money; or rather indeed, it is manifest, that by this meanes such money not being hoarded up, they might multiply it by purchasing of land, and lending the same gratis upon security, so as to improve trading to the utmost extent possible.

Now by such quicknesse of returnes, mens yearly profit (which was the third thing essentiall to a thriving trade) must needs be increased in no small measure, although their gaines in the pound, and consequently the price of commodities in the mean time fall considerably, as is manifest by what is proved in Lib. 1. Sect. 7.

Againe, when by the current of this multiplied stock of moneyes, their takings in ready pay are such as makes their trade as great, as they can possibly manage, they may wholly refuse to deale any more upon credit, and so injoy also the last advan­tage requisite to a thriving trade, viz. ready pay, or good security.

Seeing therefore, all tradesmen would rather be without a great stock then quick­nesse of trading, reasonable profit, or good security: And that this interprize opens the door, not only to an increase of stock, but to so great a multiplication of trading and yearly profit, and that with ready pay, it is evident to all understanding men, that this advantage of being in capacity to borrow as much money at any time, as men are a­ble to put in security to make good without paying interest, is (though very great) a­mongst those other things least of all considerable.

Yet if it be observed, that the hazzard which men usually undergo, when three or four in a company take up commodities upon trust, (whereby each of them be­comes ingaged for the rest to pay the whole debt) or rather the aforesaid hazzard of selling ware upon the particular credit of some one man, is a thing so ordinary, as it doth manifest, that notwithstanding such hazzard, and the allowance of interest in the price of their commodities, the advantages thereof are generally greater then the inconveniencies, as I shall have further occasion to observe.

That the hazzard of this undertaking, (besides which there is no inconvenience worth the mentioning) may be insured, for that which is not considerable to interest.

That such hazzard is much lesse then that of putting out moneyes to interest, and therefore farre lesse then what is incident to the said ordinary way of trading on credit.

That this new way of trading, puts men into a capacity of buying commodity (as [Page 30]with ready money) without allowing interest in the price thereof, which trading on credit doth not.

All these things (I say) considered, it followes, that all the inconveniences inci­dent to this undertaking are so inconsiderable, to those which proceed from any other way of Improvement, as that the aforesaid one advantage of doubling the stock with the increase thereof, though put in the ballance against all the inconveniences incident to this attempt, will notwithstanding be found to outweigh them an hundred fold.

Therefore that which was here to be demonstrated doth appeare, viz. That one of the least advantages proceeding from the intended interprise, doth much more then counter­vaile all the said disadvantages.

LIB. II. SECT. IV.

TE foure things premised in the former Section, as essentiall to a thri­ving trade, being all concluded as effects of this attempt; and ha­ving found (by comparing one thing with another) that the least of these foure doth much more then countervaile all the inconveniences incident to this enterprize, we are now to consider what further means are requisite to make this undertaking prove most effectuall, for accomplish­ing all the aforesaid properties essentiall to a thriving Trade.

For, whereas in the last Section it was alledged, that men were in capacity by ha­ving the aforesaid Mine of gold at their dispose, to lend moneys each to other, un­till for a need, there be a hundred times more money dispersed amongst them then was formerly; whereby their trading through the revolution thereof, (it not being hoar­ded up) must needs be multiplied more then proportionable to such increase of mo­ney, according to what was proved, Lib. 1. Sect. 4.

Against this it may be objected,

First, that perhaps as fast as such money should increase by the loane of it to some, it would be hoarded up by its passing through the hands of others, especial­ly if [which I hope God will prevent] new grounds of feare, in reference to any fur­ther publike disturbances should arise; so as the current of this and all other money being obstructed, by the hoarding of it up, this interprize for the increase of trade, would be frustrated.

Secondly, that happily the number of those who will think fit to undertake the dispose of this Mine, may be so few at first, as they shall not be able upon sufficient security to borrow a sum equall to the hundredth part of the value of all the moneyes that is already in the Land, whereby the quantity of money dispersed amongst Tradesmen, will not be increased considerably, and consequently the increase of Trade by so small an increase of money, will be as little discernable.

Now I must acknowledge, that both these Objections do carry some force against what hath been as yet proposed.

[Page 31]To remove therefore the bad effects of that which is suggested in each of these two cases, let it be admitted, that the gold which this Mine doth afford being coin­ed, were first not at all acceptable to be hoarded up, though the times were never so dan­gerous; Secondly, through some prejudice or misapprehension of the generality of men, were current at present onely amongst a few.

And then (I say) being true gold, that is, (according to what is already intima­ted) mettall of such reall value as (though not current with all, nor acceptable to be hoarded up by any) would yeeld the money it is taken for, without any considerable losse, if sold to the Goldsmith; as in this case there could be no hazzard in taking it; so by the increase thereof, it would further trading much more then the increase of any money apt to be hoarded up would do, because (as I have already sufficiently cleared) it is the speedy passage of moneyes from one to another, [without resting any where] that quickens the revolution thereof, and by comsequence trading.

If therefore matters can be ordered so, as this money shall not be at all acceptable to be hoarded up, it will serve not onely to answer fully the former of these two Objections, but to discover what further means is requisite to make this undertaking prove effectuall, for the producing of all the Properties essentiall to a thriving trade.

Now, in reference to the second of the said Objections, if this Company [and all those that are willing of their owne accord to take this new kind of money, though not current by Law] should agree to put out some flag, signe, or the like, whereby they might be distinguished, and publikely knowne from others, it would follow, that those who in this case should be thus knowne for such as are agreed to take it, as their hazzard [though they could not procure any to take it for ware] would not be considerable, in regard if they sell it to the Goldsmith they may have ready money for it; so the advantage they shall reap by its being current onely amongst a few, over what would accrew unto them in case the same were universally acceptable, [like other money] would be much greater then can easily be demonstrated.

For, this money not being generally current, will by those who [upon considera­tion of the true value thereof] have accepted of the same for their ware or labour, be [for the most part] brought to such men as are knowne by the aforesaid flag or signe, whereby both their acquaintance and their takings in ready money, [that is, their trading] must needs be multiplied proportionable to the quantity, that is disper­sed amongst them of this new kind of money; which, though laid out upon others never so often, will still be retorted upon themselves, [like stones cast up in the aire by force, which will naturally returne towards their center; and consequently, the more shall be thus throwne up, the more will come downe again,] so the more they have of this kind of money amongst them, the more will their takings be mul­tiplied.

Whereas on the other side, if this new kind of money being once lent to this Com­pany, should [like other money] be dispersed throughout the whole Nation indiffe­rently, it would [as to them] be little otherwise then as water spilt upon the ground, which returnes no more to the place from whence it came.

Now therefore let it be supposed, that the quantity of this new kind of money, borrowed by the said Company, were equall to the worth of their own estates, and that to the end they might multiply the same to a greater proportion, if need should require, they had imployed as much of it in the purchase of Lands, as is equall to the value of the estates of all those that [by hanging out the said flag or signe] have made themselves noted for such as are agreed to take it; so as the sum of this money [float­ing [I say] amongst such persons chiefly, who have thus published themselves wil­ling to take it] being hereby made equall [or if need require, far more then equall] to [Page 32]the Estates of all such persons (though never so many) it must needs multiply their takings in ready money in such sort, as trading might by this means be as much in­creased to them, as it would to the whole Land, in case any money generally current could be extended to the utmost quantity needfull.

And hereby not only the last of the two aforesaid Objections is fully answered, but a further means [discovered] requisite to make this undertaking prove effectuall for the producing of a multiplied Trade, even to the utmost degree possible, (at least to those who are willing to use the means) and by consequence a capacity of gain­ing much more per annum, upon much lesse profit in the pound then ordinary, [as is proved, Lib 1. Sect. 7.] and all this with ready pay; so as the aforesaid way of doub­ling the stock, and the increase thereof, being already declared to be of so vast concern­ment, there seems to remain no further means undiscovered, that is requisite to make this undertaking prove effectuall, for the producing of all the four Properties essentiall to a thri­ving Trade, (already mentioned) which was the thing here to be demonstrated.

And this will appear the more evidently, if it be considered that as those who shall thus agree to take this new kind of money, may hereby increase the quantity thereof in such sort, as to multiply their trading to the utmost degree possible; so by means of such an extraordinary quick Trade, it followes (I say) from what hath been demon­strated [Lib. 1. Sect. 7.] that they shall be able both to buy their ware much cheaper, and sell for much lesse profit in the pound then others, yet gain much more per annum, and consequently undersell them, and that in no small proportion.

Which seeing (as may appear by the sequell) it will be for their advantage to sell as cheap as they can afford, it must needs come to passe, that all others who are not min­ded to sit still, must use some means whereby they may be able to sell as cheap as they; and they in the mean time having got the start of them, being every day able to sell cheaper then formerly, shall thereby inforce others to sell yet cheaper, and so on per­petually, whereby the price of commodity must of necessity fall from time to time, so as all sorts of ware must needs be every day cheaper then other.

Whereas contrarily, if trading were not increased remarkably to some persons pub­likely distinguished from others, no company of men would be in so fair a capacity of making an advantage by selling still cheaper then others; so as though by an increase of trade, the price of commodity might fall, (according to what is already in Lib. 1. Sect. 7. demonstrated,) yet not so speedily and effectually as by this meanes it must.

Therefore in this respect also, seeing a fall in the price of commodity, is an advan­tage not onely to the people in generall, but in many respects (as I could prove at large) unto trade it selfe, it is requisite that this new kind of money should be current at the first only amongst a few, whereby to inable them, through the quicknesse of their trading, to undersell others.

Neither can this their being able to undersell others, by the quicknesse of their tra­ding, be any just ground of exception against their practice, seeing any person that doth but put out the same flag with them, will (by being publikely noted for one that is agreed to take this new kind of money,) thereby multiply his takings therein, that is, his trading, and consequently put himself into the same capacity of underselling o­thers, which flag to hang out will not be any trouble or charge worth the naming; and therefore (seeing this new kind of money will yeeld the sum it is taken for, without a­ny considerable losse) he that will not take this course, if others [thereby underselling him] do ingrosse the trade to themselves, the fault is his own: Thus in brief, to pre­vent an Objection, and so I refer you to the Section following.

LIB. II. SECT. V.

HAving already discovered all the Inconveniences that are incident to this attempt, in case it should take effect, and found them to be little if at all considerable; especially, if weighed with the Advantages that follow thereupon; (in reference chiefly to those particulars mentioned in the last Section,) VVe are now to consider, what (in probability) is most like to hinder the speedy effect of this Enterprise, and how the same may be removed?

Now, if the Loane of Money upon sufficient security, were proffered gratis to all Tradesmen that would borrow it, though like other money it were so generally current, as being laid out by them, it would not return unto them again, to the mul­tiplying of their trading, as (according to what is proved in the last Section) this new kind of money will; yet there is no question, but that more then ten, or twenty men (a number sufficient to begin this attempt) would be glad to accept of the tearms.

But the onely thing remaining to be cleared is, whether this money, being as is already intimated, such as the generality of the people may possibly have a pre­judice against; will become so far forth Current, as is necessary for the carrying on of this undertaking.

Yet considering that those who borrow of it pay no Interest, it follows, that if they cannot make it to be taken for Commodity, all they are Ingaged unto, is but to re­turn it again at the time appointed; although indeed if it be remembred, that this money is such as will yield the Value without any considerable losse, though sold to the Gold-Smith; it cannot be doubted, but that all wise Tradesmen, will take it much rather then turne away a Chapman; though happily many at the first, may not be willing to hang out such a Flag or Sign, as is before mentioned.

The truth of this cannot be questioned, if we do but consider how common a thing it is, for men to deal each with other, upon the bare Word or Bill of such as they judge sufficient, and upon this Credit, to sell for three or six Moneths time; wherein besides the hazard for want of sufficient security, there is a loss both to the Buyer and to the Seller; seeing he that Buyes pays for his Commodity so much the more in price, as if he had paid Interest after the rate of eight pound per Cent. for the time the money is forborn, and he that sells hath for that time no profit of his Stock, more then if he had put his Money out to Usury; which one time with another, must needs be less then what men generally gain by their Trades.

[Page 34]And besides, this loss to both parties, men by dealing upon Trust, do so intri­cately involve their own Credits and Stocks with other mens, as few do certainly know what their own Debts and Estates are worth, much less what degree of safety or danger there is in trusting others; so as many thousands that begin with a good Stock, loose by this means not onely the profit but the Principal; as is hereafter more fully declared.

Yet, seeing all Tradesmen do frequently part with their Ware upon Credit, (I say) rather then turn away a Chapman; how much more willingly would they take that money for their Ware, which though not current by Law, will yield the value without any considerable loss, if sold to the Gold-Smith.

In case it be objected, that possibly every man will fear that he shall not meet with such as will take this money from him again, and consequently no man at all will take it.

I answer, that though any man should be subject to this Fear, yet he will judge it greater wisdom in him to take it, then to sell his ware upon credit; because that for a need he is able to sell this money to the Gold-smith, (if he cannot make it to be taken,) and yet in the mean time is never the less able to take up ware upon Credit, then if he had sold his own ware upon Credit.

From hence, it may be concluded upon safe and solid grounds; that for as much as every man (though he should not know where to put off this money, for Commodity) would find much more reason to take it, then to sell his ware up­on Credit, therefore very few (if any at all) would refuse it; (at least some one or other of most Trades would take it) and consequently, men would be yet the more willing to take it, because they know where to procure Commodities of all sorts for it.

So that it is now discovered, how this suppsed prejudice of the people, which seemes the main, and as far as doth appear the onely obstruction, that otherwise might hinder the speedy effect of this Enterprise, is or may be totally removed, viz. by making this new kind of money (though the people be never so much prejudiced against it,) to be of such reall value, as may yield the sum it is taken for, without any conside­rable loss, if sold to the Gold-smith, for that in this case, few (I say) will refuse it.

VVhich Expedient must needs take place the more effectually, the rather for that the fewer there be, who have made themselves publickly noted, for such as are agreed to take this new kind of mony, the greater will be their advantage, who shall put out the said Flag or Sign, in multiplying their trading thereby; And besides the putting out of the said Flag or Sign, they may (if they please) cause their Names, Trades, and Places of aboad, to be published in print, that such as please may know where to send unto them: both which for that they may be done without any considerable trouble, hazard, difficulty, charge, or Incon­venience to counter-poise the same, will be a great inducement unto all rational men, to strive who shall be the first in this attempt; so as this money being cur­rent with at least some of every Trade or Calling, there can be no occasion to dispose of it (I say) in any Commodity, but it will be thereby known where such Commodity may be had for it: Upon which ground, I might again conclude a more full discovery of that which was here to be demonstrated.

And to make this new kind of money the more current if need require; those of this Company may agree to affix unto all their Commodities, a Note expres­sing the price at which they are minded to sell the same; binding themselves neither to take less, nor ask more then that price, except paid in this new kind of mo­ney, [Page 35]and to abate two shillings on the pound of that price, for so much as they shall be paid in such new kind of money, and not otherwise.

Now in this case, if the rate thus affixed upon their Commodities, be but as cheap as others can afford, whereof they abate two shillings on the pound, if paid in this new kind of money; then it must needs follow, that (seeing none can afford to sell their Commodities so cheap as those of this Company, and they not so cheap by two shillings on the pound, as if paid in this new kind of money) those who have occasion to buy Commodity, and are willing to obtain it at the best hand, must of necessity first procure some of this new kind of money, wherewith to pay for the same; and may afford to give ready money, with above 12 d. in the pound advance, rather then be without it.

Thus, if there be but a place and hour of the day appointed, whereby such as would Exchange of the one sort of money for the other, may meet together; it is evident, that this will invite most of those who have any occasion to buy Com­modity, (whose number is never small) to attend at the said time and place ap­pointed, and there to proffer of the ordinary sort of money for this new kind of mo­ney, and that with some advance, if it cannot be otherwise obtained, as shall be more fully cleared hereafter. And consequently if this course be taken, it will be no more difficulty to procure of the one sort of money for the other, then it is to get half a crown exchanged for two shillings and a six-pence; in which respect it is manifest, that all wise men, will take the onesort of money as freely as the other.

Therefore I conclude, that it is sufficiently demonstrated, how the supposed prejudice of the people against this new kind of money; which is the main, (and as far as doth appear the only) obstruction, that otherwise might hinder the speedy effect of this enterprise, may be totally removed; which was the thing in this place to be disco­vered.

LIB. III. SECT I.

TO the end this Enterprise might appear to be of such impor­tance, as indeed it is; I have in the former part of this Trea­tise premised several things, necessary to be suggested, and seriously pondered by way of preparation to the discove­ry thereof. And therefore if any who perusing the same, should turn first to this place; supposing to find therein the sum of all that else-where is discussed, and so intend to save themselves a labour of reading the precedent or subse­quent parts thereof; I earnestly desire such persons to spare the pains of reading any part of this Discourse at all. For this Treatise being as it were a discovery of a new Art, cannot chuse but require (as all other arts, at the first learning of them do,) more pains to the clear understanding thereof, then that of once reading it over, and therefore much more then the viewing of some few parts or par­cels here and there disorderly: So as I am certain the first reading of it, can at the most but prepare men for a more clear understanding thereof, upon the se­cond and third perusal.

He therefore, who shall think it too great a taske to read this Treatise twice or thrice over, for gaining the knowledge of that Art whereby to live comfortably in the World; (for that I am certain it doth effectually discover) may (as I said) rest contented as he is.

In the mean time, if any doubt whether their labor in thus doing may be lost, I acknowledge it is impossible, that men should be freed from this doubt, except they would be perswaded to run that hazard, which at the worst can but prove so much lost labour.

Certain it is, that the paynes (besides other things) which the devising and pub­lishing of a work of this nature doth necessarily require, cannot chuse but be much beyond such labour of reading thereof, which being done, will (assuredly) render much more then a proportionable recompence.

And therefore (not to detain you longer) I proceed (In order to the unfolding of the aforesaid Parable,) to shew the only feasible means, whereby both to revive and multiply the decayed Trade and Riches of this Land.

Now considering, that if Tradesmen should be forced to defray the Charges of Family-Provision, Rent, and other things in the Commodities properly be­longing [Page 38]to their own Profession, (that is the Shoemaker in Shoes, the Habber­dasher in Hatts, and the like,) it must needs produce many great inconvenien­ces, (they being to pay the same to those perhaps that have no need of such Com­modities) it followes that such exchange of one Commodity for another, can­not be ordinarily and frequently done, without the mediation of some other thing, which being accepted instead of the goods parted with, ought to be a firm and real Security to the Receiver, for obtaining other goods of like or greater va­lue, upon the Credit of such Security.

And there is no doubt, but that the due consideration of this, (together with mens daily experience of the necessity thereof,) did occasion at first that excel­lent Expedient of a general and joynt Agreement (mentioned Lib. 1. Sect. 3.) to put a certain value or estimation upon mettalls, (out of which, money or coyne is formed,) and accordingly to accept thereof, which otherwise is of no worth, in­stead of such firm Security before specified.

So as it is to be observed, that there is not at all any true worth (I say) in the best money or mettall that this Earth can afford, further then as by being general­ly accepted for things of real value, it gives to him that so accepts thereof, security for obtaining some other. Commodity of like or greater value; seeing other­wise (I say) such mettall would be of no advantage to the owner.

Hereby, that which I noted before in the place last cited is manifest, namely; that money, is given to men for their Commodities, upon no other accompt then as an Evidence or Testimony (that is as it were a TOKEN or TICKET) to signi­fie how far forth, other men are indebted for, and ingaged to recompence the fruits of their Labors or possessions by Commedities of some other kind, instead of those that for such money they parted with.

And from hence it is evident, that if matters can possibly be ordered so, as any thing else besides money, (whatsoever it be,) may give as good security to the possessor, for obtaining Commodities thereupon at pleasure, as so much ready money would do (the same being both as difficult to counterfeit, and easie to transfer from one to another) it must needes) giving I say as good security, &c.) be in all respects as good as money.

Now it being clear, by what hath been demonstrated, Lib. 1. Sect. 3. & 4. That without a greater sale of Commodity, there cannot be a greater Trade. That with­out mens receiving a greater quantity, either of Money or Credit, (Commodity not falling in price) there cannot be a greater sale of Commodity amongst them. That without increasing the quantity or Current, either of Money or Credit, men cannot receive a greater quantity thereof in the same time.

And it being evident, That in any place where there is no Mynes of Silver or Gold, it is not easie to increase the quantity or Current, either of Money or Credit, upon all occasions to any proportion needful, and that besides Money there is nothing except Credit, upon which men can frequently & conveniently sell their Commodities: It must follow, that as the case now stands with us, the only feasible means, whereby both to receive and multiply the decayed Trade of this Land, is by in­creasing amongst Tradesmen some firm and known Credit or Security, equal to that of the Chamber of London, Banke of Amsterdam, or any Bills of Exchange, which being given in written or printed Evidences, may be fit to transfer from hand to Whereby the multiplication thereof throughout the Land, may produce the same effect in order to the Increase of Trade, as the increase of so much Money amongst them would do.

[Page 39]And this the rather for that (as is clear by what hath been already demonstar­ted Lib. 1. Sect. 4.) money, though it should never so much encrease amongst us at this time, yet either the fears of War (though they were groundles,) or the present deadness of Trading, would occasion it to be hoarded up even as fast (perhaps) as it should so increase to the great obstruction of its revolution, through the hands of Tradesmen; which will not at all hinder the quick current of such Bills, or evi­dences as are before mentioned; whereby Trade being once revived, it shall both incourage and necessitate as quick a revolution of money as of such Bills, and this not without a great Increase in the quantity of Bullogne brought from other parts, as shall hereafter be shewed.

Therefore seeing (as I noted before) an objection against the use of that means without which any enterprise cannot be effected, doth by consequence argue, as strongly against all endeavours for attempting that enterprise; it followes that nothing can be alleaged against the multiplying of such a firm and known credit amongst a people, whose trade is at present dead; but what must carry a suffi­cient weight against any endeavour, of reviving their decayed Trade; which as I have already proved no earthly Inconvenience is able to Counter-poise.

I say therefore, that if matters can by any means be ordered so, as these Bills or Evidences, may give as good and firm security to the possessors, for obtaining Commodities thereupon at pleasure, as so much ready money would do, (or for ob­taining ready money if need require as any Bills of Exchange) and be made as diffi­cult to Counterfeit and as easy to transfer from one to another, as money, (all which I shall hereafter demonstrate) they must needs be in all respects near, if not alto­gether as good as money; And consequently (in order to the unfolding of the aforesaid Parable) will prove the onely feasible means whereby to revive and multi­ply the decayed Trade and Riches of this Land; which was the thing here to be dis­covered,

LIB. III. SECT. II:

IN regard the greatest part of mens returns, in most places of the World, are either upon the Credit of particular persons, as here in England, or else, by means of some Brass or Copper money, made current by a Law, as in Spain, Holland and other places, both which are bad enough, though the former much more liable to hazard then the latter, as I could prove at large.

And considering, that notwithstanding the so many and great Inconvenien­ces, of Trading upon such private credit, so long experienced by men of all trades [Page 40]and Nations, it still continues so common a thing amongst them, to make use of their own words and credits, instead of money, for transferring goods to and from one another, (though not constrained by Law thereunto.) This constant practice of it, by the most wary, skilful and prudent men, is an undoubted ar­gument, that all the aforesaid Inconveniences put together, do not fully out­weigh the Commodity and necessity thereof.

For it is in this case, as with Merchants adventuring beyond Sea, who though sometimes divers of them lose their whole Estates, and perhaps much more, by surprizal or Shipwrack; yet if there were not one time with another, more got then lost by such adventures, we might confidently conclude, that none would inter meddle therewith at all, much less would any take so small a matter in the hundred, for insurance.

This way therefore of trading upon private credit, being the main hinge, upon which the much greater part of ware, is returned in most places of the world, is in such sort useful to us here in England, as if it should be left without intro­ducing some other way instead thereof, must needs occasion our already decay­ed Trade, to be yet much worse then it is.

Now, having in the fore-going Section, given some light to the discovery of that other way; it will not be amiss here, to shew the excellency thereof, by a comparison of it, with the aforesaid ordinary way of dealing upon private Credit.

In reference whereunto it cannot be denyed, but that this usual way of Tra­ding on private Credit, is through mens losses by desperat debts, a far greater pre­judice to the generality of men, then the payment of taxes, excise, and all other assessments; Seeing it appears by frequent experience, that not one Tradesman of any considerable dealing amongst an hundred, could ever with his best discretion prevent the danger of some considerable loss first or last, by this means occasi­oned.

Whereas, if it could be devised how all such Credit which men shall need to inter-meddle with, in a way of trade, might be made as sure and firm, as that (I say) of the Chamber of London, Bank of Amsterdam, or any Bills of Exchange (which how to effect, I doubt not to discover,) certainly men would not look up­on such hazzard, as at all considerable.

And though it be ordinary, for men to esteeme of money much before the Bills or Bonds of such whose Credit is not good; yet it is no unusual thing for them, to part even with ready money, in hopes of a small profit of Interest, upon those private Bonds of particular persons, to which the Sureties are esteemed sufficient, accompting themselves in this respect, not prejudiced but advantaged, by accept­ing of such Bonds instead of money, and consequently would much rather accept of them instead of Commodity in a way of Trade, if the Security thereof were known.

Yet, if it be considered, that such private Bonds cannot do the service of ready mo­ney, by being generally accepted for Commodity, though never so good a bargain be proffered; because the security for making them good is not publickly known (the rather for that the party who makes such proffer, knows not where to find one, to take them of him again for ready money, or such Commodity as he stands in present need of;) it follows, that in case the security for making them good, either [Page 41]in money or Commodity, shall appeare not onely firme and sufficient, but as publiquely and generally knowne as the said Chamber of London, &c. It must needs be much more acceptable to all wise men in lieu either of money or Commodity, then otherwise; there­fore much above the usuall way, of trading upon the Credit of private persons.

Again, The ordinary way of dealing upon Credit here in England, being to take mens worder promise for the debt; it come's to passe, that though a man hath sold never so much Commodity upon Credit, yet he cannot upon such word or promise goe and re-furnish himself with new commodity, without ingaging his own estate to pay the debt, (as in Flanders, upon the Bills each of other, to the great Improvement of their Trade they u­sually do.)

Which incovenience if it be not remedied here in England, it must needs come to passe, that though credit should be encreased never somuch amongst us, (and that up­on the most secure terms that are consistent with things on earth) yet men could not af­ford to sell more commodity upon such credit, then one year with another they receive ready money for; because in this case, look how much ware is parted with, and is not at one time or other paid for in money, is totally lost.

So as if it happen that any considerable quantity of money be hoarded up, our trade for want of the revolution of so much money in the yeare, as formerly must needs be obstructed proportionably; notwithstanding such multiplied credit: And oftentimes it happens, that the generality of men faile of being able to pay their debts, at the time appointed (and thereby lose their credit) by reason of some suddain obstruction in the revolution of moneys: So that trading on credit (if it be not otherwise ordered then now it is,) cannot but be destroyed, (and by that means trade also) if the current of money be not maintained amongst us; which current of money (I say) is prevented usu­ally either by deadnesse of trading, whereby men find no profit, or fear of war, whereby they find no safety in laying out their moneys, from neither of which we in this Nati­on, as things now stand, can expect to be suddainly freed, except by some such means as is here proposed; which by the blessing of God doth tend effectually to both.

To summe up all therefore in few words, Seeing for that we cannot increase money at pleasure to any quantity needfull; we have no feasible means whereby to quicken Trade, (as I said before) but by multiplying a firme and knowne credit amongst Tradesmen, fit to transmit from hand to hand.

That all the worth of money it selfe, consists in being as it were a token or Ticket for obtaining goods at pleasure, which otherwise would be of no advantage to the owner.

That though Bills and Bonds, if the security for payment of them be not good, are slighted in comparison of money; yet if such security be made unquestionable, they are so farre forth esteemed, as that men (I say) part even with money it selfe upon such security.

That there is nothing can be named wherein credit comes short of money, but in one of the three respects before insisted on; viz. That the security it gives, is either not so good, or not so well known, or not so easie to be transmitted to others, all which by the use of such Bills, as are before mentioned, will be prevented.

Hereupon at last, I reduced all my diversity of thoughts unto this firm conclusion, That if the mutuall agreement of men, could by any lawfull means be made effectuall, for laying a Foundation, [as I said before] of the best and most known security that things on earth are capable of; no whit inferiour to that of the Chamber of London, Banke of Amsterdam, or any Bills of Exchange; which given in such printed Evidences, might like money be transferred from one to another.

[Page 42]And that some way were found, whereby such to whom these Bills are proffered, may be inabled as easily to discover any counterfeit, as they can any clipped or counterfeited coyn in of money.

It would beyond all controversie, not onely tend effectually toinerease [even to the utmost degree possible] the Trade of those that should make use thereof, but much ex­ceed in all the aforesaid particulars, that kind of slender credit, upon which men (I say) do frequently transmit considerable proportions of their Estates one to another (to the utter undoing of many thousands that begin with a great stock) And in all the three aforesaid particulars, be neer, if not altogether equivalent to money it selfe, and indeed prove both to the Common-wealth in generall; and especially to the persons that deale therein, a far more effectuall means for improving of Trade, then so much ready mo­ney; [which I say men are apt to hoard up] And that therefore the means thereunto is not to be slighted, but incouraged.

All which things, in order to the discovery of the Excellancy of this means for im­provement of Trade, by a comparison thereof, with the ordinary way of trading upon private credit; were thought necessary to be here inserted, which was the thing here undertaken.

LIB. III. SECT. III.

HAving in the second book discussed what the severall advantages would be, in case a Mine of Gold discovered in this Land, were resigned up to the dis­pose of such as should become ingaged by Bond, to restore within six moneths warning, both the use and possession thereof; especially if matters were orde­red so as the said Gold, might not be generally current at the first, nor ever at all acceptable to be hoarded up.

We are now to consider, whether the free Loane of such Bills as are already menti­tioned, would not be altogether as great an advantage to the Borrowers, and to Trade in generall, as if the same were such Gold. In case that first security equall [I say] to that of the Chamber of London, &c. were given to make them good in money within six moneths after the demanding thereof; and, that secondly there were a way found whereby any Bill, ei­ther counterfeit or added to the number, for which there is security given, might be discove­red, as easily as clipped or counterfeit coyn in receiving of money.

Now, that such Bills as are already mentioned would not at the first, be so generally current, as our ordinary sort of money, nor yet at all acceptable to be horaded up by any, doth of it selfe sufficiently appeare; Whereby [as is demoustrated lib. 2. Sect. 4.] they must needs prove a far more effectual means for multiplying the Trade of all those that deal therein, then if it were otherwaies.

But the chief question is; whether they would become so far forth current, as the aforesaid Gold would have been: For it was demonstrated [Lib 2. Sect. 5.] That if Gold were dispersed amongst men, or any Mettall of such reall value as [though not current by Law, nor acceptable to be hoarded up by any] would yield the money it is [Page 43]taken for, without any considerable losse, if sold to the Goldsmith: In this case, (be­cause there could be no great hazard in taking it, whether it were current at all or no) therefore no wise man but would take it, much rather then continue the practise (which is so very common) of selling his ware upon trust, and consequently it would become sufficiently current for the carrying on of this Attempt, especially if this Company sel­ling their Ware cheaper by 2. s. on the pound then ordinary, when paid in this Gold, and not otherwaies; it should thereby come to passe, that Commodity could not be had at the best hand without it.

Now, to prove that these Bills would be altogether as current as such gold, let it be considered, that men (as is declared in the precedent Section) do not spare to part e­ven with gold it selfe, or any money whatsoever, upon Bills, Bonds, or such like; in case the security for making them good be sufficient; So, as if there be any means where­by to settle a security equall to what is already expressed, and to prevent the counterfei­ting and multiplying of such Bills as shall be given out upon such security, these Bills must needs (in respect of their security) prove equivalent to Mettal of as reall value, I say, as any which the Goldsmith will give ready money for.

And from hence it is evident, that if such security be given to make good these Bills in ready money, within six moneths after the demanding thereof; in this case, though no Interest should be allowed for that six moneths time, yet those that put their money out to Usury (represented by the Goldsmith) will upon such security advance ready mo­ney for these Bills, in case they be allowed a rebatement of Interest for six moneths, which though reckoned to ten per centum, amounts but to 12. d. in the pound.

Now, if men should refuse to take these Bills for commodity, at a higher rate then 19, s. in the pound, yet seeing those that put their moneys out to Interest will give as much and more for them at any time in ready money, they might (I say) in this case have ready money for them, without any losse at all; and this must needs make them prove to all those that deale therein, as good as any Mettal which sold to the Goldsmith would yeeld the money it is taken for, without any losse at all; Consequently, as far forth current as any such mettal before spoken of would be. viz. Abundantly sufficient for the carrying on of this Enterprise; especially (I say) if this Company (selling their commodities above 2. s. on the pound cheaper then ordinary, when paid in these Bills) it should thereby come to passe, that commodities could not be had at the best hand without them, the Consequence of which shall be declared hereafter.

Therefore I conclude, that the free loan of these Bills (the security being such as is formerly declared) would be altogether as great an advantage to the borrowers, as if the same were such gold as is already mentioned, concerning which secrrity I shall in the next Section demonstrate the sufficiency of it.

In the meane time, if it be questioned whether these Bills may not be counterfeited, or rather whether those who are intrusted therein, may not add to the number for which there is such security given; I say in this case, as before concerning the said gold: Let it be admitted, (for how much soever seemingly impossible it shall be fully made good) that there were a way found whereby not any person whatsoever, (though im­ployed or intrusted in or about the printing or making of them) could any waies adde to the number for which there is such security given, [much lesse counterfeit any, but even those who are to receive such Bill, might easily discover the same not to be within the said number; yea, [I say] more easily then they can clipped or counterfeit coyn in receiving therof; And if what I say in this particular besteemed impossible to be done; men may for­beare to intermeddle in this Undertaking, untill the truth thereof be demonstrated un­to them for their full satisfaction:

Object. But debts cannot be made over to others without Assignments as money may.

[Page 44] Answ. If these Bills be made payable not to this or that man by name, but onely in generall to the bearer thereof; (except security be profered to prove he hath no right therein) and withall, he that accepts of them be required to give a full discharge to him of whom he receives them, (depending for his satisfaction upon the said company) then [by the Law of this Land] he can recover nothing from the person of whom he recei­ved them, and yet [though he have no Assignment] may inforce the Company to make them good upon producing of the Bills, because they have so ingaged them­selves; so as there seems to be no necessity of Assignments.

And again, [though as matters might be ordered, such assignments may be made as little trouble some as receipts upon the payment of money] yet I doubt not but the Parliament [upon addresse by way of Petition] would make an Act, for the remo­ving of any obstruction that might hinder the successefull effect of this Undertaking, the practise thereof being so unquestionably lawful in respect of the Law of God, and pro­fitable to the Common-wealth.

Object. But such Bills cannot be divided into small parcells, to the value of shillings or sixpences, as occasion may require.

Answ. No more can gold, yet there is silver enough to serve for exchange up­on all occasions as are needfull; neither can this prove any greater an inconvenience then is incident to those Bills, which [as I noted before] they use in Flanders in a way of Trade.

Yet [when opportunity serves] I shall discover a way, how any one may take up ware of severall Tradesmen, to the value of two or three shillings, or lesse, upon one and the same Bill; and how this may be done with ease, and as much security, as if the same were paid for in money.

Object. But these Bills will not be current beyond Sea?

Answ. It is so much the better, for the exporting of money, or that which goeth for such, is so great a prejudice to trade, as all States do generally use their best endeavours to prevent the same, for as we see by experience the late exporting of gold, hath been no small prejudice to England: Yet they passing currently here, will procure such Commodity, as being exported beyond Sea, will be never the lesse worth for being bought with those Bills.

All which when discovered, it will follow; that the means last propounded for im­provement of Trade [being placed upon such security as aforesaid] wil come to one and the same effect with that which was mentioned in the aforesaid Parable: Which was the thing here to be demonstrated.

Now, as to those particulars left uncleared in this Section, or elsewhere, I wish I may see as great a forwardnesse amongst men to further this design, as I shal be wil­ling [upon observation thereof] to discover at large, what may give them full content, which oherwise to do at this time would cost much pains, and yet perhaps prove fruitlesse.

LIB. III. SECT. IV.

THat Bills or Bonds, if the security for making them good, were no whit inferiour to that of the Chamber of London, Bank of Amsterdam, or any which on earth can be given, would be much more acceptable in a way of Trade to all wise men, then the ordinary manner of dealing upon Trust, must needs be granted by such as have duly weighed the many considerations, already suggested to that effect.

I shall therefore in the first place, shew how by the agreement of a few Tradesmen of knowne and sufficient credit, a securitie for making good such Bils as they themselves shall borrow each of other, may be made equall to that which was formerly required of the said undertakers, for making good the gold of the said Mine, and then shall make it appeare, that such security will be as good and sufficient as any which on earth can be given, which if it prove so to be, it will fully demonstrate how the aforesaid meanes for in­crease of Trade, may be effectually accomplished by an agreement of some few Tradesmen of knowne and sufficient credit, which is the thing here to be disco­vered.

Admit therefore that severall Tradesmen of knowne and sufficient credit, do cause a certain number of Bills to be printed, and putting a value upon them, as suppose ten pound the piece, do lend the said Bills each to other, upon no lesse security then if the same were so much ready money, or gold out of the said Mine, and bind them­selves joyntly to make good the same according to the termes following, viz.

That they ingage themselves upon delivering in of the said Bills, to an Office appointed for that purpose, (by those that have accepted of them for ware, or by whomsoever) to give a a Bond for payment of them in money within six moneths.

That a Ticket expressing the totall sum of the Bills, so brought in to the said Office in a moneths space, [the totall sum of each moneth being put distinctly by it selfe] be by an Offi­cer appointed for that purpose, sent to the dwelling houses of the severall Members of the said Company.

That each of the said Members be bound to take notice thereof, and within four moneths after the date of the said Ticket, to pay in to the said Office, so much in money as his propor­tion for that moneth doth amount unto; in lieu of which, he is immediately to receive as much in Bills, as was so brought in to the said Office, to be made good in money.

And to the end, that as few of the said Bils may be brought in to the said Office as possi­ble, the said Company having affixed a note to their commodities, in manner as is already di­rected, expressing the price thereof, that they bind themselves upon a certain penaltie, not to take lesse then that price if paid in money, but to abate 2. s. in the pound thereof, if paid in Bills.

Now, not to detaine you here with other things lesse considerable, though meet to be agreed on by the said Company,

[Page 46]This Ingagement for making good these Bills, is in effect the same with that, which was formerly required of the said Undertakers, for making good the gold of the said Mine, as will appear by comparing them together, which was the first thing thing here to be discovered.

And in order to the proofe of the second particular, [viz. That this security is as good as any which on earth can be given.]

I say, that if a Company of Insurers [being proffered one per centum for Insu­rance of the Bills so lent] be permitted to have a Negative voice in the Loane of those bills; It must needs follow, that they as well as the said company, will do their utmost endeavour to take sufficient security, from each one that borrows of these Bills; because by insuring the same, their own estates lie at stake, to make good that which the Principall and Sureties cannot.

Now, seeing if the said Insurers do take care, that each particular member of this Company, do put in sufficient security to make good his own proportion, they need not In­curre a hazard greater then that which the said Companies belonging to the said se­verall Halls at London, do incurre by lending moneys to young beginners, meerly to do them a courtesie, who without doubt are wise enough to order matters so, as not to lose one per C. one time with another thereby; it follows, that the said Insurers and Undertakers, may if they be carefull, make the said one per cent. to be more then sufficient, to defray one time with another the losses incident to the Loane of these bills; which, if at any time it do not, then seeing the whole Company of Insurers are bound to make good the rest of the losse [which cannot be much] out of their own e­states, it must needs make them so much the more carefull, to take good security of each Member that borrows of the said Bills.

And considering, that both these Insurers and Undertakers, are all subject to the Law of the Land, to imagine that they would [as I may say] be so free and pro­digall of the loan of these Bills, as not to take competent security from each one that borrows of the same, [when I say they may as well preserve themselves from dan­ger therein, as the said severall Companies in lending moneys gratis] is to suppose that men are generally so void of understanding, as to neglect the doing of that which is both possible and practicable, when the safety of their whole estates depend there­upon.

On the other side, grant that the said Insurers and Undertakers, (being subject I say to the Law, for the recovery of these debts] be but so far forth carefull in taking suf­ficient security, as about one per C. may defray the charges of Insurance, and conse­quently more then defray one time with another, the losses incident to the loan of the said bills; then the said Company of Insurers securing the said Undertakers with their whole estates [if it prove otherwise] there can scarce in this case be any appea­rance of danger, incident to the said Undertakers; and how much lesse to those that accept of these Bills, according to the terms proposed, who cannot fail of obtaining those terms, except not onely the whole Company of Insurers, but also the whole Company of Undertakers, and not they alone, but all their sureties do at once become unable to perform the terms proposed; and how this should happen without some ge­nerall confusion, by surprisall of an enemy, or such like cannot be imagined, to the danger of which the security of the Chamber of London, Bank of Amsterdam, or mens trading on credit without these Bills, is no lesse liable.

For, if the generality of the members of this Company, have been caused each man for himself, to put in good and sufficient security for the Bills so borrowed [the contrary to which must not be granted] it is not the failing of some few, that can make the losse so considerable, as that the estates of all these able and sufficient men, toge­ther [Page 47]with their sureties, besides the estates of all the Insurers [which must be suppo­sed also to the generally very able] should not much more then countervail such losse; neither can it be imagined, that those few can both in themselves and sureties fail so, as not to be able to make good, the most part of what was so borrowed.

All which considered, I may confidently conclude, that this security, as matters may be ordered, wil not be any whit inferiour to that of the Chamber of London, Bank of Amsterdam, or any which on earth can possibly be given, which was the second thing to be proved.

And thus much may serve to discover, how the aforesaid means for increase of Trade, may be effectually accomplished, by an agreement amongst some few tradesmen, of known and sufficient credit.

LIB. III. SECT. V.

HAving layed down in the last Section, a way how sufficient security may be given, for making good of the aforesaid Bills, either in money at the end of the six moneths, or in commodity, at a cheaper rate by 2. s. on the pound, then for money can be procured, and all this to the end that the said Bills being established upon such firm security, might (going about currently for commodity in the place of money) not onely prevent the trouble of making them good in money, but tend to the abundant multiplication of the trade of all those that deal therein.

Let us now consider, what the damage in continuing the practise of this enterprise would be, in case being attempted, it should not take effect so, as to occasion that these Bills should become any waies currant.

In order to which, it is to be considered, that the members of this Company, having received such proportion of the said Bills, as they have put in security to make good, according to the terms proposed, if they cannot make them to be taken for Commo­dity; in this case, the prejudice onely is, that they have lost their labour in troubling themselves so far, as to attempt the setting of this enterprise on foot.

If having found out such as are willing to deal with them upon this Credit, the said members or any of them have received Commodity, and parted with their Bills, to those that bring them in to the said Office, to be made good in money, according or agreement: yet in regard the Company have taken six moneths time for the payment of them, and sufficient security from each particular person, to make good his owne share, it is no more then having thus [as it were] taken up Commodity upon trust in Company with others, they must procure money in due time for the payment of the debt.

[Page 48]If any of those that have received these Bills for their Commodity, shall bring them to any of this Company, and lay them out in Commodity again, so as they go about for any time in stead of money, then seeing this Company do not give Bond to make good these Bills in money, untill the delivering of them in to the said Office, and from that time take six moneths for payment of them, it follows that so long as any of them shal go about for Commodity [as in this case they are immediately made good to the Creditor, by being accepted for Commodity in the place of so much mo­ney, so] the debt otherwise due in money, is during the time of their going about forborn.

For that the said six moneths doth not commence, untill the exchanging of them at the said Office for bonds, which if this course take effect, will, as to the most of them never be required, as by the sequell doth appear.

If it happen, that some of this Company having got their Bills to be taken for ware, such Bills are immediately brought in to the said Office, to be made good in money, when others of the same Company having their Bills still in their hands, can­not procure Commodity upon them, and are yet notwithstanding to pay their pro­portion towards the making good of those that are so brought in; In this case, if they want ready money, it is but selling their Bills to those that put their moneys out to use, and upon rebatement of Interest they may have money in hand, either to buy commodity, or pay any debt as they have occasion: For it cannot be denied, but if this undertaking be ever like to come to any thing, the security must be such as those who put moneys out to interest may be willing to accept, which [I say] will be no hard matter to bring to passe.

If it be objected, that the members of this Company, having ingaged themselves to take these Bills for ware, will receive little or no money upon the sale of their com­modities, wherewith to discharge those that are sent in to the said Office.

I answer; the more Bills the said Company receive for their ware, the fewer they have to make good in money; and therefore it will be so much the easier for them, to provide money so to do, by the sale of those which they so receive for ware.

On the other side; if all these Bills be brought in to the said Office, before they be returned to any of the said Company for Commodity, then in order to the making of them good in money, there will be this advantage; that all the said Bills being lodged in the said Office for six moneths, those of this Ingagement cannot in this case be profered any thing but money for their commodity; and therefore may as wel make good these Bills at the end of six moneths (by the sale of their commodity for money) as if they had taken up so much ware upon their private credit, for the like time.

But, if they be not all delivered in to the said Office, before those of this Ingagement receive them for commodity, then the difficulty of making them good in money, will be so much the lesse: For (though in this case some of this Ingagement, may be caused sometimes to accept of these Bills for their ware, who else might have been profered money, Yet) these Bills being (I say, established upon such firm security, will yeeld those that have received them for ware present money, upon rebatement of in­terest, if they have necessary occasion for the same.

And if those to whom these Bills are sold for ready money, do immediately bring them in to the said Office, so as they are still all for the most part lodged there; yet (I say) againe, it is manifest, that if these Bills were wholly lodged in the said Office, the worst that can come, is but to make them all good in money, once in about halfe a year with interest, that is, about the end of each halse year, receiving the Bills, and procuring commodity thereupon, to have them all lodged in the said Office for the next six moneths succeeding, and so perpetually.

[Page 49]For, if never so few of them be for any small time stirring abroad, there is so much the longer time above six moneths given, for making good those few in money; and for the rest, it is (I say) no more then as if men had taken up ware upon trust, to be made good in money at the end of six moneths.

Therefore, though this enterprize being attempted, should not suddenly take effect, yet the damage in continuing the practice thereof, would not be considerable, which was the thing here to be demonstrated.

Now if it be objected, that in putting off these Bills at 19. s. 2. d. for commodity, and making them good at 2 [...]. s. in money, they do in effect pay interest, which is a great prejudice.

I answer, that those who take up ware upon trust, do allow interest in the price of their commodities, so as the damage in this respect is no greater then that of the ordi­nary way of dealing on trust.

But how to make this course take effect, notwithstanding what hath been here pre­mised, so as the said Bills may go about without being brought in to the said Office to be made good in money, not only for the preventing of this, and all other incon­veniences, but for accomplishing of all the desirable consequences depending there­on, I doubt not but the way thereunto is fully and satisfactorily discovered in the two Sections following, to which therefore I refer you.

LIB. III. SECT. VI.

THese Bils being placed upon such firm security as is already mentioned, and sufficient means used for preventing the multiplying or counter­feiting of them, there needs no more to make this Enterprise take ef­fect, but that matters be ordered in such sort, as none can buy com­modity so cheap by 2. s. on the pound with money, as with these Bills, the way whereunto is already discovered.

For, from hence it will follow, that the full worth of these Bills in ready money, is no lesse then 22. s. on the pound, because he that hath occasion to buy commodity, and doth first purchase of these Bils, paying but 21. s. for them, doth gain the other 12. d. by the bargain; Seeing, that if he had been to pay for his commodity in money, then in­stead of 21. s. which his Bill cost him, this Bill hath procured that commodity, which in money would have cost him 22. s. and that at as low a rate, as in money a­lone could have been procured, in any place whatsoever.

Now, let us observe but the consequence of this: Hence it must needs follow, that if any man hath a mind to part with his Bills for ready money, there being a place appointed where he may meet with those who (willing to procure their commodity at the lowest rate, which without these Bills cannot be obtained) do attend there to give ready money for them; it is not likely that he will part with them for lesse then 20. s. in the [Page 50]pound, when he knows that the buyer being convinced, it will save him two shil­lings in the pound, will be glad to give it, seeing a little saved is better then no­thing.

Again, seeing as I said before, few or none will refuse them for commodity, at the rate they will yeeld in ready money, it follows, that few will trouble themselves to profer them to sale for money, when (I say) men will not refuse to accept of them in­stead of so much ready money for debt or commodity; and the fewer number there is of those that profer them to sale, the more will they be sought after and esteemed; espe­cially considering, that all those who have not received of these Bills for their ware, if they intend to buy commodity at the best hand, must be forced to purchase them with money, although they find few, or none that care to sell them: So as to be pro­fered them for ware at the rate they wil yeeld in money, will be a courtesie.

Yet further, seeing by this meanes they will passe for at least 20. s. in ready money, (and that so as the number of those that would give that price, will be greater then of those that will take it) it is not to be supposed that in this case, any will trouble the Usurer with them at all, who cannot afford to give full 20. s. for them, because he must have allowance of Interest for the six moneths forbearance; and much lesse is it probable, that any will send them in to the said Office; where after they have stayed six moneths they are to have but 20. s. in money, viz. no more then they might have before they deliver them in.

And as by this means the members of this Company will have little or no occa­sion to procure money for the satisfying of any of these Bills, so if having any of them in their hands, they should have occasion for money, how easie would it be for them to get it, without either troubling the Usurer, or allowing any interest in the sale of them, by selling these Bills those that (willing to buy commodity at the best hand) are content to give ready money for them: So as (in a word) this being done, it is manifest, tthat these Bills would be no whit lesse, but rather more acceptable then money it self.

Thus you see what great probability there is, that this attempt being set on foot, will suddenly take effect, if the rules already prescribed, (although no other were propposed) be duely and carefully observed.

But for the more effectuall prosecution of this Enterprise, let it be supposed, that those of this Company [rating their commodities [by a note affixed thereon, in manner afore said] at ful as low a rate as others can afford] do agree, to sell their ware at that rate, though paid all in money, but to abate 2. s. on the pound, of that price, for so much as they shall be paid in bills, the same not exceeding the one half of the sum; That is to say, they expect for their commodity half money, and half Bills; at least, that they will not allow the said 2. s. abatement upon above the one half, though paid in Bills, yet that they will abate the said 2. s. on the pound, upon so much as they shall be paid in Bills, not exceeding the said half.

I say 2. s. on the pound, for that to abate 2. s. on the pound upon the one half, is no more then 12. d. on the pound upon the whole, which yet will make these Bills as well worth 22. s. on the pound, as otherwise; For he that having occasion to buy commodity, though he should pay full 22. s. on the pound for these Bills, to make up the one half of his sum, doth lose nothing by the bargain, seeing he is allowed 2. s. on the pound, upon that half in the price of his commodities; so if he paies but 21. s. he saveth 12. d. in the pound upon all the Bills so bought.

Therefore, by this means, although the said Company undersell others but 12. d. in the pound, these Bills will be sold in money at as high a price as otherwise, if they undersell them 22. s. and no doubt will go currently for commodity, at that price they will yeeld in money.

[Page 51]By this means also, they shall receive half the price of their commodities in mo­ney, whereby they shall not onely be the better inabled to discharge such bills as are to be made good in money, but have their takings double, to what they would other­wise be; seeing these Bills will not in this case passe through their hands, without bringing as much in money, and yet those of whom they procure their commodities, will be as well content to take all their pay in bills, (if need require) as otherwise, be­cause they are not engaged to make them good in money, as those of this Company are.

This being considered, it will follow, that those of this Company must needs have more money, then to pay what are so brought in immediately, even much faster then it would be demanded, which if they should perform accordingly, not being enga­ged thereunto, it would not only be another way, whereby ready money might be had on these Bills for the labour of fetching, but so maintain the credit of this Company, as none would trouble themselves to demand money on their Bils, but accept of them as freely, if not more willingly, then money.

All which, doth tend to shew what great probability there is, that this attempt being set on foot, will suddainly take effect, if the rules, already prescribed [with those other here laid downe] be duely and carefully observed; which was the thing here to be demonstrated.

LIB: III. SECT. VII.

FOrasmuch, as in all things that are first propounded, it is meet before the attempting of them, to propose the worst that can probably hap­pen in the prosecution thereof; Let it be admitted, that those of this Company at the first beginning of this Enterprise, being not able to afford Commodity at an under-rate, it should not be true, that Commodity could be got with half money, and half Bills, at a lesse rate then with money; as was taken for granted in the former Section.

Now, if from this ground, it should be objected, that they would not suddenly go about for commodity, but be generally sent in to the said Office to be made good in money.

For the answer of this [besides that it is already proved, that in case they should not so go about, yet the damage would be no greater then if men had taken up so much ware upon credit] Let us call to mind [as briefly as possible] what was noted before, viz.

That the Usurer upon rebatement of interest, will give ready meney for these Bills: That men rather then lose the sale of their commodities, are (generally) willing to trust the ano­ther: That therefore none would refuse these Bills for commoditie at the rate they will yeeld [Page 52]in ready money; That if few men will refuse them at that rate, most men would take them at that rate, much the rather because most men are willing so to do.

From all this, it may be concluded, that men knowing that they will be taken, at that rate, for commodity, (and rather then fail for money it self) few or none would trouble themselves to seek out the Usurer, for procuring money thereupon; and much lesse would tradesmen send them in to the said Office, where (having taken them at the same rate the Usurer will give in ready money) they must stay six moneths for no greater profit then the interest of their stock, which tradesmen cannot generally live upon.

Now, these bills by this means, going about without being carryed in to the said Office, shall not onely prevent the trouble of making them good in money, but so multiply the trade of those that deal therein, as they shall soon be inabled to undersell others, whereby they may be in capacity to sell commodity (being paid in these bills) much cheaper then for money can be any where procured.

And though (if the better to effect this) they should for a while sell the one half of their ware at the same rate it cost them, the consequence [by multiplying their trading] would soon recompence their losse an hundred fold; but I need not insist on this, seeing the speedy successe of this attempt doth not much depend there­upon.

If it be objected, that although it cannot be denied, but matters may be ordered in such sort, as those who put their moneys out to interest, may be willing to advance ready money on those bills, upon rebatement of Interest, for six moneths, which at 8. per cent. amounts not to 10. d. on the pound; yet if the Usurer will give but 19. s. 2. d. for these bills in ready money, then it is not like, that any will accept of them from those of this Company for commodity, at a higher rate; and seeing the said Company are to make them good at 20. s. within six moneths, it follows they doe in effect pay interest for them.

I answer first, that although the Usurer will not accept of these Bills but at 19. s. 2. d. yet it doth not follow, that others will not accept of them for commodity, from those of this ingagement at a higher rate.

1. Because at this rate, they will (no question) go about, without being sent in to the said Office, and consequently the revolution of them, with as much in ready mo­ney, must needs occasion such great trading to the Undertakers, as they may meet with persons enough, who for their constant custome, will be glad to furnish them with commodity at above 10. d. in the pound cheaper then ordinary; which is all one as to have the full interest due upon these Bills abated.

2. Men expect but 8. per cent. when they sell their ware upon private credit, but would (no doubt) be glad of half that allowance, if the security were as good as that of the Chamber of London.

3. Those that sell ware upon trust, cannot alwaies furnish themselves with new ware, upon their own credit, and therefore take an allowance of interest upon consi­deration of the forbearance of their stock: But these bills being such as few or none will refuse, do therein supply the place of ready money.

4. When men have sold their ware upon trust, their own estates lie at stake to pay for the new ware, they procure in stead thereof; whereas if they accept of these Bills for their ware, they may procure new ware thereupon, and have as full a discharge, as if they had paid for the same in ready money.

And if notwithstanding all this, these Bills should not passe without a full allow­ance of interest, yet assuredly in reference to all these great advantages, no man but would prefer them much before private credit, which doth abundantly demonstrate [Page 53]the great probability there is, that this Enterprise being once set on foot, would suddenly take a good effect; although none of the rules prescribed in the prece­dent Section should be observed; which was the thing here to be discovered.

2. For a further answer to the aforesaid Objection, (I say) that though this Company were not able to put off these Bills, at a higher rate then 19 s. 2 d. yet if they refuse to accept of them for Commodity, otherwise then at the same rate, then in case they should at this rate go about, without being brought into the said Office; it follows, that they are not put to make them good in money, at any rate whatsoever; and consequently in this case, have the use of them without pay­ing any interest at all. Now (as I have already proved) it is altogether unlikely, that any number of them should be sent in to the said Office, to be made good in money; neither (I say) do they pay the interest of any more, then what are so sent in.

3. It is supposed in the objection, that the interest of money is 8 per cent. where­as if these Bills become current in the place of money, and are proffered to be lent freely unto all that will borrow them, it must needs follow, that none will give any considerable interest for monies, nay, that by this means the interest of mo­nies shall suddenly fall to nothing.

Now to conclude, men parting (I say) with their ware upon private trust, at the same rate of interest as money, suppose first, they should accept of these Bills, but at the same rate, that no less then the one half of them, were one time with ano­ther brought in to the said Office; and that interest of money did by this means, fall but to half the rate as formerly, yet all these things put together, this Company would not pay above two per cent. for interest, which must needs make interest (and consequently such their charge of paying the same) fall yet so much the more, and so perpetually.

But if it were not possible, to avoid the payment of some small matter for In­terest (yet these Bills going once about for Commodity) both that, and all other charges incident to this Undertaking, yea and much more (if need should re­quire) may be defrayed by the Land purchased, upon the Credit of these Bills in the manner proposed, Lib. 2. Sect. 1.

Thus having demonstrated, that though this Company should not sell Commo­dity at an under rate, yet these Bills would suddenly go about without being sent in to the said Office, whereby not onely to prevent, either the trouble of ma­king them good in money, or the charge of allowing Interest upon them, but to multiply the Trading of those that deal therein, and consequently to the inabling of them to under-sell others; and putting them into a capacity of purchasing Land therewith, it doth thereupon sufficiently appear, What great probability there is that this enterprize, being once set on foot, would suddenly take a good effect, although none of the rules prescribed in the Section preceding should be observed, which was the thing here to be discovered.

LIB. IIII. SECT. I.

THe immediate causes and consequences of a quick Trade, being the or matter contained in the first Book of this Treatise; The speediest and most feasible means for accomplishing thereof, repre­sented by a Parable in the second book; the said Pa­rable interpreted, and applyed to the discovery of the means it self, in the third book; There now re­mains onely (as the scope of this fourth and last book,) an application of all, to a full demonstration of the truth of those many particulars asserted in the Title-page, as they lye in order.

In pursuance whereof, I shall declare in this first Section, How and in what sense this Treatise may be called The Key of Wealth, or wherein it doth discover a new way for improving of Trade, lawful, easie, safe, and effectual; according to the first words in the Title-page.

In the second, I shall lay open several considerations, Shewing how and where it is demonstrated, that a few Tradesmen agreeing together, may both double their Stocks, and the increase thereof, without

• 1 Paying any Interest.
• 2 Great difficulty or hazard.
• 3 Advance of Money.
• 4 Staying for Materials.
• 5 Prejudice to any trade or person.
• 6 Incurring any other Inconvenience.

According to the following words in the Title-page.

In the third I shall shew, how it appears, that the agreement of the said Tradesmen, may be ordered in such sort, as both they and all others, though never so poor who are in a Way of Trading, may

• 1 Multiply their returns.
• 2 Deal onely for ready pay.
• 3 Much under-sell others.
• 4 Put the whole Nation upon this practise.
• 5 Gain notwithstanding more then ordinary.
• 6 Desist when they please, without damage.

Which are the particulars in the Title-page immediatly succeeding the former.

And (in the fourth and last, I shall shew how it sollows, that all the afore­said Advantages may be effected) so as the same shall tend much to

• 1 Inrich the people of this Land.
• 2 Disperse the money hearded up.
• 3 Import Bullion from beyond Sea.
• 4 Raise Bancks of money in divers places.
• [Page 56]5 Settle a secure and known credit.
• 6 Make such credit current.
• 7 Extend such credit to any degree needful.
• 8 Quicken the revolution of money & credit.
• 9 Diminish the interest for money.
• 10 Make Commodity supply the place of money.
• 11 Ingross the Trade of Europe.
• 12 Fill the Land with Commodity.
• 13 Abate the price of Commodity.
• 14 Provide store against Famine.
• 15 Relieve and imploy the poor.
• 16 Augment Custom and Excise.
• 17 Promote the sale of Lands.
• 18 Remove the causes of imprisonment for debt.
• 19 Lesson the hazard of Trading on Credit.
• 20 Prevent high-way theeves.
• 21 Multiply ships for defence at Sea.
• 22 Multiply means for defence at Land.
• 23 Incorporate the whole strength of England.
• 24 Take away advantages of opposition.

Which are the 24 particulars mentioned in the said Title page.

Now, I desire it may be observed, that in what hath been here rehearsed, the words of the Title page are expressed Verbatim, and distinguished from the rest by an Italick print, which if read alone by it self, and compared with the said Title page, they will be found to agree so, as in making good what is affirmed in the said Title-page (as the sum of all) I shall need onely to take the words (thus distinguished) in order; And after an explication of my meaning therein, where need requires, shall either refer you to those places where the truth there­of, hath been already sufficiently cleared, or proceed to further proof as there shall be need; To which purpose, because the end of all writing is to be understood, it will be necessary to repeate sometimes in brief, the sum of what hath been already at large insisted on.

The first words therefore in the said Italick print, are

The Key of Wealth:

That is, an effectual means, by which the dore (or rather a wide-gate) is open­ed unto the store-house of Riches.

The store-house, is the whole world, which affords us riches, either by the Fruits of our own Soil, the trade of Fishing or Traffick with other Nations.

The Key, is the peoples being in capacity, to bestow upon themselves the Com­forts of this life; For to give you in brief, the effect of what I have already to this purpose observed; though the Store-house of the world be never so full of Com­modity, yet seeing the Tradesman cannot afford to take it in, faster then he can find sale for what he hath already, it follows, that if the people through their ex­tream poverty, are not able to take it off from the hands of the Tradesman, the dore in that respect is shut against Trade, and by consequence against Wealth; For without Trade, mens Wealth and Estates, are so far from being increased, as they are in a way of decreasing; and the rather, because by growing daily poor­er, their expences and consequently their Trading, is daily less then it was before, to the further increase of their poverty, and so perpetually; so that hereby the Store-house of Wealth is (as it were) locked up against such a people.

On the other side, let it be supposed that money (or that which goes for such) doth increase amongst them; it followes, that (they not hoarding it up but lay­ing it out in Commodity, as fast as they receive it,) the more their hands are filled with such money, by the increase thereof, so much the more doth the sale of Commodity, that is Trading, increase; and this increase of Trading doth increase Riches, and that so much the faster; because such Riches increases mens expences; therefore their Trading, therefore their Riches, and so perpetually; by which means then, you see the dore is opened to the Increase of Wealth: (all which is at large demonstrated in the 5. first Sections of the first Book) Therefore increase of money, or that which goes for such, not hoarded up, is the Key of Wealth, accor­ding to the Title.

[Page 57]Or,

The Key of wealth, or a new way for Improving of Trade: I make that which tends to the multiplying of trade, to be the Key of Wealth; for that as without Trade it is impossible but a people should grow every day poorer then for­merly; So trading being very quick, it is likewise impossible but they should grow daily richer, as appeares Lib. 1. Sect. 2.

A new way,

If against this it be objected, in the words of Salomon, that there is nothing new un­der the Sunne; I answer, his meaning is that there is no new matter, though there be new forms; no new Genus, though the species of each kinds may be new.

As to instance, mankind have been from the Creation, yet this or that man never was before, so Invention hath been from the Creation, yet this or that Invention as of Printing, &c. never was till of late years; all this is so evident, as it cannot be denyed.

Yet the way of Trading upon Bills, is (I confesse) used in Flanders, and other parts of the world, though (as I hope I may speak without boasting or offence) not in neere so convenient a manner, as that is which I have here proposed.

For Improving of Trade;

That is, Not onely to recover our decayed Trade to its ordinary measure, but to multiply it, to the utmost degree that can be needfull, or in just reason desireable; as appeares by the precedent part of this Section, and morefully (as is said) by the five first Sections of the first book.

Lawfull;

For, as there is nothing (which I know) proposed, that is any way derogatory to our duty towards God, so for our duty towards our Neighbours, I shall prove by and by, that this practise doth not tend (in the least measure) to prejudice any trade or person, therefore it is lawfull.

Easie;

There being no greater difficulty therein, then in that which is incident to the len­ding and borrowing of money upon security: viz. that he or they who borrow, must pro­cure good security, and he or they who lend, must be carefull to see that it is good; and that this is all the difficulty attending this enterprise: See Lib. 2. Sect. 2. and Lib. 3. Sect. 4.

Safe;

The hazard being not so great as that which men undergo, when they take up Com­modities in company with others, wherein each man is bound to make good the whole debt, in case his partners faile: when as usually they take no security each from o­ther, to make good his own share, much lesse from a whole Company of Insurers to run the hazard: Both which in this case they do, as appears Lib. 2. Sect. 2. and Lib. 3. Sect. 4. Therefore this course is safe.

Again, it is safe, because it is such as whereby men may totally free themselves from hazards, (and great suits) incident to desperate debts, (besides the losse of time by the forbearance of the money) which are the ordinary effects of the usuall way of dealing upon trust; and yet have as much trading with ready pay in these Bills, as can in reason be desired, Lib. 2. Sect. 3. Therefore this course is far safer then the ordinary way of trading.

Effectuall;

It being such, as I am confident mans reason cannot imagine any way without it (or something to the same purpose) whereby either to recover our lost Trade, and inrich the people, as is evident, Lib. 2. Sect 1. or any scruple that may be alledged to make it ap­pear that this way doth not tend most vigorously and effectually to produce the same, [Page 58]which he must needs acknowledge, who shall duely consider the said five first Sections of the first Book.

The Conclusion.

These things considered, it doth fully appear, how and in what sense this Treatise may be called, The key of Wealth, or wherein it doth discover, a new way for improving of trade, lawfull, easie, safe and effectuall, which was the thing here to be demon­strated.

LIB. IIII. SECT. II.

IN prosecution of this, let us take the words expressed in the said Italick print, in order.

Shewing how a few Tradesmen;

Tradesmen; because they must be such as have ware to sell for these Bills.

A few: Yea for a need one man alone, being of sufficient estate and credit, may both begin this attempt, and though none joyne with him, continue the same: For let that one man have but so much credit as to take up ware for six moneths, and assuredly the giving of a Bill to make good the debt, either in commodity immediately, or in mo­ney, within six moneths after the demanding thereof, can no whit weaken such his credit, or make it lesse acceptable; especially if he be caused to put in sufficient securi­ty, for making good the termes so proposed, and should procure the same to be insu­red also, by such as are sufficiently able to pay the debt, in case both he and his Sure­ties should fail so to do.

And if the credit of one man alone would in this case be acceptable, how much more that of a whole Company of sufficient men bound each for other; though they were but a­bout 10. or 20. in number, amongst whom though one or two should faile, yet to the whole Company it would not be much considerable: Of this see more, Lib. 3. Sect. 4. Therefore, I say, a few tradesmen would serve both to begin and continue this practise.

On the other side, though a few (for a need) would serve, yet in case the whole Na­tion should joyne therein, the number would not be too many, nor hinder the profit each of other, as I shall demonstrate, when I come to shew that they would notwithstan­ding gain more then ordinary.

[Page 59]Agreeing together;

Though their credit may be acceptable, as they are so many single persons, yet their agreeing together as a Company to be bound each for other, must needs make such their credit more firm and unquestionable.

1. Because (in a word as being formerly noted) if one amongst many faile, the rest must make it good.

2. Because it puts them upon a necessity of taking each from other, such security, and so insuring that security, as may (if possible) totally free the whole Company, from the least appearance of danger, and much more all others that shall deal with them up­on this credit, Lib. 3. Sect. 4.

May double their Stocks;

I do not say double their estates, but double their stocks without paying Interest; which clearly intimates a capacity onely of borrowing in money, viz. as much as their estates and credit can extend to give security for, Lib. 2. Sect. 1. and Lib. 3. Sect. 4.

And this, seeing it shews men the way how by renewing such security, to continue the borrowing thereof to themselves and posterity, even to the end of the world; is upon the matter equivalent to the doubling of their estates: For to what purpose ser­veth an estate better then as a stock to be improved?

The increase thereof;

That is, if by trading with this doubled stock, any one doth increase his estate, he may upon like security, have as much more lent him, as whereby to double such increase; the extent of which advantage, is incredible to those who shall not read the demonstration thereof, in Lib. 2. Sect. 3.

Without paying any Interest;

How the paying of Interest may be prevented (or at least defrayed by the rent of the Lands purchased with these Bills) is sufficiently demonstrated, in Lib. 3. Sect. 7.

Without great difficulty or hazard;

I have proved in the last Section, that the Undertaking is easie, therefore without difficulty; safe, therefore without hazard; and for a more full demonstration thereof, see Lib. 2. Sect. 2.

And yet these two things of difficulty and hazard, are as I said before, the totall summe (as it were) of those Inconveniences, that can with any colour of reason be al­ledged, to counterpoise the manifold advantages issuing to the Undertakers, (besides others) from this attempt.

Without advance of money;

Great attempts do usually put men upon vast expence of money, before there be any certainty whether their undertaking will prove or no, but here is no such advance re­quired, Lib. 2. Sect. 1.

No danger though the attempt should not take effect, Lib. 3. Sect. 5.

Nor any question but (being wisely managed) it will, Lib. 3. Sect. 6, 7.

It may at the first Undertaking, happily cost such as shall profit thereby, some small matter out of such their profit, towards the maintaining of an Office, which yet will not be requir'd of any, who shall upon their oaths testific, that they have not gotten more then seven times as much thereby.

Yet if this practise be continued, this charge (as I said before) will be much more then recompenced by the rent of the Lands, purchased upon the credit of these Bills; neither is this any advance of money, seeing it is onely required of those, that after proceeding therein, have profited thereby; so as being onely out of the cleare profit by this means occasioned, it cannot properly be called a charge, much lesse an advance [Page 60]of money; though the gains of this undertaking be thereby some small matter the lesse: Therefore this enterprise may be attempted and prosecuted without advance of money.

Without prejudice to any trade or person;

When that rare invention of Printing began first to be practised, how exceedingly was it opposed, and that with some shew of reason; being alledged that it tended to deprive a considerable number of the race of mankind, of their daily bread; who in­deed at that time had no other way to live, but by the use of their pen, in writing those books which since are used to be printed.

Whereas in reference to this enterprise, it is most apparent, that the unquestionable consequence of it is, not to lessen, but to multiply imployment upon men of all trades and callings, (except Usurers, Brokers and Lawyers) and that in such sort, as neither any trade, nor yet any particular person can be (in the least measure) prejudiced thereby.

I confesse it tends to the lessening (if not annihilating) of Interest, and to remove oc­casion for pawning of goods, or suits in Law: Neither need I dispute whether the practi­ses, much lesse the Professions of Vsurers, Brokers, and Lawyers, be lawfull or not; see­ing this is undeniable, that if there be any means whereby a people may be accommo­dated, with a sufficient quantity of money, (or that which goes for such) without pay­ing interest for it, and so as they shall not need to pawn their cloaths for food; and like­wise matters so ordered, as Law suits may be prevented; In this case, though both Vsu­rers, Brokers & Lawyers lose their customers, not any one of them can justly complain of prejudice.

For I must confesse, that if the practise of any thing may be truly called a prejudice to any one person, then though the consequence thereof were otherwise never so good, it were not lawfull to be done; seeing it would be the same (at the best) as to doe a small evill, that a great good might come of it: but for a people to use means to inrich themselves, and that in a way as may be most free from occasioning suits of Law, can by no means be denied to be lawfull, though both Vsurers, Brokers, and Lawyers lose all their customers thereby.

Now seeing it is beyond all controversie lawfull, therefore it can be no more a prejudice to any, then the doing of just things can properly be called prejudiciall, which would imply a contradiction: Consequently this practise doth not tend to the just prejudice of any trade or person, which was the thing to be proved.

Without incurring any other Inconvenience;

A Negative is hard to be proved, but this I say, that other Inconveniences then what are already mentioned, I cannot imagine any.

The Conclusion.

Thus have I shewed, how and where it is demonstrated, that a few Tradesmen agree­ing together, may both double their Stocks, and the increase thereof,

Without

• 1. Paying any Interest.
• 2. Great difficulty or hazard.
• 3. Advance of money.
• 4. Staying for Materialls.
• 5. Prejudice to any trade or person.
• 6. Incurring any other Inconvenience,

According to what was affirmed in the Title page, which were the things here to be demonstrated.

LIB. IV. SECT. III.

HEre (to follow the method already prescribed) the first words in the said Italicke print, are,

In such sort, as they

They, That is the said Ʋndertakers: For not onely those others that are hereafter mentioned, but even the Ʋndertakers themselves may by this meanes double their stock, with the increase thereof, multiply their returns, deal onely for ready pay, much undersell others; put the whole Nation upon this practice, Gaine notwithstanding more then ordinary, desist when they please without damage; All which is clear by the whole scope of the premisses.

And all others

That is, not onely the aforesaid Ʋndertakers but others, (though they being not in security to borrow of the said Bills, whereby to double their stock with the increase thereof yet) by hanging out the said Flagge shall be in capacity to multiply their Trading, deal onely for &c. to the end of all the aforesaid six parti­culars.

Though never so poor, who are in a way of trading,

That is, though they be in Debt more then their stock is worth, and have not a­ny Credit to borrow of the said Bills; yet if they be in a way of Trading so as [Page 62]they have but Commoditys to sell; they may by hanging out the said Flagge, mul­tiply their returnes &c.

May

That is, it is at their own choice, for it requires neither trouble, charge nor hazard considerable to hang out the same Flag with others, whereby they cannot be hindred from enjoying the effects thereof, as it tendeth to multiply their re­turnes with ready pay, whereby to undersell others, &c.

Multiply their returns,

I say the returnes, both of themselves and all those that hang out the said Flag; even to the utmost degree, that they are all possibly able to manage.

For if these Bills be currant but amongst a few, the takings (that is the trading) of those few will be so much the more Lib. 2. Sect. 4. if they be currant amongst many then the number of such Bills may be multiplyed proportionably; by pur­chasing Land with them, and lending them Gratis upon such security as is alrea­dy mentioned, yea untill they have increased the number of them, and by conse­quence their takings according to their desires Lib. 2. Sect. 1. & Lib. 3. Sect. 4.

For it followes, by what hath been already demonstrated Lib. 1. Sect. 4. that the more of these Bills be stirring, the more will the takings be, of those that hang out the said Flag; it is also manifest by what hath been declared Lib. 2. Sect. 3. that by this means, these Bills may be multiplyed to the utmost quantity that can be needfull, for increasing their trading to the greatest measure, that they are possi­bly able to manage.

And therefore, I may safely conclude, that it is in the power of those of this In­gagement, to multiply the trading both of themselves and of all those that hang out the said Flag, and that to the utmost degree that they are possibly able to manage; which was the thing to be proved.

May deale onely for ready pay,

That is they may if they please, have (I say) as much trading as they are able to manage, and yet deale onely for ready pay; I do not say ready money, but ready pay, either in Money or Bills.

This followes from what was last demonstrated, where it was made to appear, that if it was in their power, to order matters so, as to have as much trading as they could possibly manage; yet it is manifest that it was no otherwise then either in money or these Bills; that is, in ready pay; and consequently may (without prejudice) refuse to deale any otherwise then for such ready pay.

Much undersell others,

That is, they may affoard (if they please) to sell cheaper then others of the same trade can buy.

For their Quicknesse of trading will occasion their buying much Commodity at once, their buying much at once will inable them (as it doth whole-sale-men) to buy it cheaper by one or two shillings on the pound then other men can and their Quick returnes will inable them to live by much lesse Profit then others; so [Page 63]as buying their Commodities above 12 d. in the pound cheaper then others, they may through such quick returnes live better upon that 12 d. Profit, then those others can do though they gaine 5 s. on the pound upon all the Ware they sell; All which is more fully demonstrated Lib. 1. Sect. 7. Therefore they may (if they please) af­foard to sell Cheaper then others of the same Trade can buy; which was the thing to be proved.

If any man should accompt this a prejudice to himself, what hinders but he may take the same course; or else shew a reason why he cannot justly do so, which if he can, I shall then think it my duty to join with him, in an indeavour to prevent all others that should attempt the practice thereof; In the mean time if men complain of Prejudice, when the mendes (as they say) is in their own hands, (whereby (meerly) to hinder others from doing that, which tends to the preser­vation of themselves and the whole nation,) God and the whole World will wit­nes against them.

If any should say, that a fall in the price of Commodities (which upon this, must needs follow) is a Prejudice to a Nation; I answer, not except it occasion a fall in the price of their own Commodities in Forreigne parts, whereby to prevent the importing of Bullion, as doth appear more fully where that particular is handled, to which I referre.

May put the whole Nation upon this practice,

That is, they may by this meanes suddainly, both necessitate and incourage all Trades-men in the Land to follow this practice; viz. if not to borrow of these Bills, yet at least to hang out the said Flag, whereby to declare themselves wil­ling to accept of them.

First I say necessitate: For seeing few or none will buy Commodity but of those that are apparently known to affoard much the better penyworths; it must follow that all those who will not take this course, whereby they may be able to sell their Ware as cheape as others; will suddainly loose their Customers: so as all the trading being hereby as it were ingrossed, by those that have put out the said Flag, they will be yet so much the better (if it were possible) inabled to undersell others, and others so much the more necessitated for their meer preservation to hang out the same Flag, whereby they may be in capacity to enjoy some Trading with them.

Secondly, Incouraged: for so long as there is neither hazard, charge nor trou­ble in hanging out the said Flag or taking the said Bills; and yet the Advantage by multiplying mens trading to the utmost degree possible, is so exceeding great besides the removing of those many hazards and delaies for want of ready mo­ney, that are Incident to the ordinary way of dealing on Credit, these things must needs (to all rationall men,) be such strong incouragements, as arguments taken from necessity, will no doubt to them be superfluous.

Therefore those that practice this course, may thereby suddainly both necessitate and Incourage all Trades-men in the Land to do the like; which was the thing to be pro­ved.

May gain notwithstanding more then ordinary,

That is, though all the Trades-men in the Land should joine in this practice, yet they may notwithstanding (if they please) order matters so, as whereby to have one with another, as much trading as they are possibly able to manage, and conse­quently may gaine notwithstanding more then ordinary.

[Page 64]For though all the Trades-men in the Nation, should at once join in this Practice; yet by the free loane of those Bills and by purchasing Land with them (morgaging that land to make them good) those Bills might (I say) be multiply­ed so, as to be equal to what mens estates are otherwise worth, though never so much increased by such quick trading; which will amount to a sum at least ten times greater then all the money in the Land; and consequently make their tra­ding one with another one hundred times greater then now it is (as is demonstra­ed Lib 1. Sect. 4.) if men were possibly able to manage it; therefore what was to be proved doth follow.

May desist when they please without damage,

That is, not onely those who onely hang out the said Flag, may after some tryall of the consequence thereof, take it in again if they see cause, without dam­age either to themselves or any others; but even the Ʋndertakers themselves, (if they be willing so to do,) may by repayment of the totall summe of the Bills thus borrowed; viz. By delivering in, all the Bills they have in their own hands to the said Office; and a summe in money equal to the totall summe of the Bills dispersed in the hands of others, I say by this meanes they may desist when they please from this practice without damage to themselves or others.

For whereas according to what was noted before, most undertakings that seem to promise any considerable advantage, are of that nature as requiring a disbursement of great summes of money from those who attempt the same, do thereby necessitate such as would desist from further pursuing such attempt, to lose all the money so disbursed; yet this design requiring no such disbursement, but being carryed on by a borrowed Stock, may at any time be layed down, by repayment of the Stock so borrowed, seeing that to lay down the practice of this enterprise, is no more I say then to pay the debt due upon those Bills.

Considering therefore that for men to pay their Debts cannot be a damage to themselves, (and much lesse to others) it may truely be said, that those who attempt this Practice, may desist when they please without damage; which was the thing to be proved.

LIB. IV. SECT. IV.

HEre wants (I confesse) in the said Italicke print the word

And,

Yet [And] being no other then a Conjunction Copulative, signifie; only thus much; that this enterprise tendeth to make good not only what went before, but that also which followes according to what I am now about to de­monstrate.

So as the same,

The same; That is, the very same thing which affoards all the aforesaid advan­tages to the Ʋndertakers, and those that hang out the said Flag, tendeth also to produce to the Generality of the people (viz by Incouraging and necessitating them to the same practice) all the accommodations hereafter expressed, without any di­minution to those Advantages, though the whole Nation should join in this En­terprise, as hath been already demonstrated.

Shall tend

That is, as necessarily as naturall causes, to produce their proper effects; which appears by the sequell.

Much,

That is, Many of the aforesaid 24 particulars; unto the utmost extent that in reason may be wished or permitted; and the rest in very great measure; as will be clear by what followes.