THE Money that is Current within his Majesties Dominions, consisting onely of Foreign Bullion, we cannot absolutely at all times secure to our selves a sufficient quantity thereof to supply our Occasions; so that (it being the Common Measure wherewith all Trade is Driven) men are enforced to stand still in their Occupations, to their great Impoverishment: Now if a means can be found out to supply this defect, Trade will be enlivened, not­withstanding any accident that may hinder the Importation, or oc­casion the Exportation of Bullion, or any other way obstruct our Money in its due Circulation, which is the Cause of the many lamen­table Calamities and ruinous Effects that are found amongst us.

Money being no more than a deposite given for such Commodities as men part withal; if in lieu thereof, a Credit be raised upon a sub­stantial Fond, it will in all respects answer the use of Money. And such is the Credit which we propose to issue forth, which all men may easily obtain by depositing their DEAD STOCK, without the least disrepute or inconveniency to themselves, upon the reasonable terms of six per Cent. per Annum; to which purpose Magazines are prepared at Devonshire house, without Bishops-Gate, London, for the reception of any Goods for which credit shall be given for two thirds, or three fourths of their value, according to the quality thereof: and because it is intended to take deposites no longer than for six Months, all persons that shall accept of the said Credit, may at the expiration of seven Months, repair for payment to the place aforesaid, and at any time view the Fond upon which the Credit is raised; and in case it so happen that the Goods deposited be not redeemed by Money, Credit, or any other equivalent deposite, at or before the time contracted for, the same shall be sold to the best advantage of the interessed, and the over-plus made good on de­mand, and in the mean while the Credit being Current, will be as serviceable to all intents and purposes as Money it self; for seeing all Necessaries for Life and Trade are obtainable from one Occupa­tion or other (to compleat the body of Commerce in all parts), due Care is taken by engaging a sufficient Number of all Trades, who will receive the said Credit; entring their Names, Trades, and Habi­tations, from time to time as they offer themselves, who are no longer obliged than they shall find it secure and profitable; of which they may be assured, in as much as all persons may upon this Credit issue forth their own Commodities, and with the same immediately procure to themselves what their Occasions require.

And if any Person shall think fit to make use of the said Ma­gazine, for the lodging and disposing of any Goods, by way of Commission only, they shall be punctually served therein, and pro­bably [Page 3] will find better opportunity for selling their Goods and ser­ving their Occasions than hath hitherto been found.

Men are also freed from those great Damages that often attends such as are necessitated to Pawn Goods of considerable value for small Sums, until the same can be sold, and do intrust the Receivers with the sale thereof at reasonable Rates; which notwithstanding is often retarded on purpose to gain to themselves an Extravagant Ʋsury, which Extortion will here be prevented.

To the rendring this Credit Current, no more is required than what is already practised in Banks here and abroad, where Men de­posite Money, and obtain the Bank-Credit, which generally passeth in Receipts and Payments without the real issuing of Money, the Money remaining as a Pawn or Ground of Security in the Cash Chest, or else is imployed by the Banker to his own benefit, the Paper Credit being chiefly Current amongst Traders; and if the Banker miscarry in his Adventures (and the Money being upon Interest, must not lie dead with­out his inevitable ruine) the Fond that should secure the Credit is gone; and whereas he takes in Moneys we receive Wares and Mer­chandize, which are alwayes to be found in the Magazine, and not so liable to be Imbezel'd, Rob'd, or Seiz'd: Wherefore is in all re­spects a better Security than a Money-Bank.

This Enterprize is of so large an extent, that it seems a Compli­cation of divers things already practised in the World; tho no place afford us an exact M [...] of it, [...] a Bank and Lum­bard united; but so differenced from both, that in effect it is nei­ther; for the foundation of Credit in Bank is Money, this Goods and Merchandize: and in Lumbards Goods are received, and Money de­delivered out, here Credit; yet in some respects 'tis like both: for after the same manner, as in Lumbards, all Goods are received in Publique Repositories, and Conformably to foreign Banks Credit is issu­ed out.

It frequently happens that several Goods are onely proper to be sold at certain times and seasons, and the Owner wants Money or Credit to prosecute his Trade, who by the method proposed may be accommodated: as for Example,

A Clothier having a parcel of Clothes, which at present he can­not vend, must therefore attend the opportunity of a better Mar­ket: in the interim to carry on his Trade in the Country, he leaves them, as aforesaid, with order to dispose thereof at a price limited with the allowance of the customary Factorage, and thereupon forth­with receives the said Credit, which supplies him with all manner of Necessaries, as from the Salter, Oyl-man, Spanish Merchant, &c. who [Page 4] again furnish themselves, as their respective Occasions require, by vertue of the same Credit; the like may be done by the Norwich Man, those who deal in Tyn, and Lead, Myners, and all other Profes­sions; so that this will enforce a Trade, operating alike on both Parties, as well the Seller as the Buyer: and beget mutual, quick, and frequent returns; and though upon every particular Sale, the Gain may be small, the Profit at the years end will be found to be great, making thereby a small Stock, equally beneficial to a great one, with slow returns; and so consequently Money will be less wanting, by reason the Occasions for it are lessen'd; but if any Person shall be necessitated for Money, 'tis not to be doubted but Monied Men will be glad to issue forth their Cash upon this Credit left with them; be­cause all Men may have recourse to the place aforesaid, and there be satisfied with the real Security upon which every Note is ground­ed that is issued out; due care being also taken to prevent Frauds by Counterfeiting the same.

And for the better satisfaction of such as may any wayes be con­cerned with the said R. Murray at the Comutation Office, some Ci­tizens have engaged themselves with him to be responsible for what­soever Goods as shall be there deposited, and Credit issued out thereupon.