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 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 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.

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.

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 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.

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.

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 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.

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 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.

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.

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.

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 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.

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 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 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.

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 wch 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 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 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 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.

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.

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, 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.

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,

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 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.

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 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 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.

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.

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.