[...] has been the great Study of the Enemies of the Government, to Debase and Diminish our Coyn, [...]owing that there could be nothing more Ruinous to us, especially in the time of War; and tho' the Par­ [...]ment have taken care to make it good, yet will it require a considerable time to perfect it, so that there [...] be Coyn enough Current to pay Rents, Taxes, &c. which makes it much the more necessary to supply the [...] hereof at present with good Credit, Which if done, would mightily disappoint the great Hopes our [...] are at present big with; That after the 4th Day of May, we shall neither have Money nor any thing equiva­ [...] [...]ereto, which they buz into People with no small diligence, in hopes thereby to propagate their [...]s.

Credit, it must be owned that the most solid is that which has the Sanction of Parliament, yet do we [...] Tallies secured by parliament, and payable in course one after another, are not of equal Value to, nor so [...]le as the Notes of Goldsmiths, or Banks, payable at demand, tho' not so well secured: For with these last, an pay his Rents, Taxes, Debts, &c. Whereas with the Tallies payable in Course, he cannot.

Reason of which Difference is only this, That the Tallies are Payable but in Course one after another, as [...]ey comes in, so that he which has the Tally cannot receive his Money till it be come in on that par­ [...] Fund his Tally is struck on, tho' there be never so much in the Exchequer on other Funds, nay that very Fund, if it be not come up to his particular Sum; Whereas the Notes even of Goldsmiths is, without the Sanction of Parliament, being made Payable at Demand, Persons Value equal at least [...]y, and so far above Tallies, that it is common to allow Five, and sometimes Ten per Cent. or more, on Tallies that carry Eight per Cent. Interest in Exchange for such Notes without Interest: Not that withs or Banks keep Money by them to answer all their Bills together. But Persons having the Notion, are Payable at demand, instead of coming sooner for their Money, generally stay as long for it as they [...]at one Fourth part or less circulates the whole, which makes it appear plainly, That if the Parliament [...] beginning of the War, raised but Two Millions of Money in specie, to have been paid either into the [...]r, or into the Hands of Commissioners, to have been by them appointed for that purpose, and im­ [...] them from time to time, to have issued out Tallies Payable at demand (instead of in Course) with an In­ [...] [...] [...]our or Five per Cent. (instead of Seven and Eight now paid) for such Sums only as should be directed [...] [...]ment, and have either Setled or obliged themselves to have Setled Funds, or raised Money to pay [...]e at the End of the War, or sooner, if necessary, with the severest Penalties on those that had the [...]ent thereof, if they issued any Tallies for any further Sums than they were Authorized by Parlia­ [...]

[...] might have been enough given out on the said Security (if the Parliament had so directed) to have [...] the War, with only raising two Millions per Ann. more, which might have been so done, as to have Landed Men two, if not three Shillings in the Pound every year in the Taxes, and the Nation many [...] [...]t pays insensibly in the rise of all sorts of Victuals and Commodities, by reason of the want of Money [...] Specie or Credit equivalent to Mony to Circulate the Trade, and pay Rents and Taxes; for it [...] [...]e kept several Millions in the Gentlemens, Tenants, and Farmer's hands, and in Trade, that the Tal­ [...] [...] [...]yable in course, and the long Funds (the most inconvenient thing of all to the Nation) have [...]t, and still draw and keep out. And had we a General Register in England, whereby Titles might [...]y secured, and the transferring thereof made easie and short; a Method might be Proposed to make [...] serve all the Ʋses of Mony; But seeing that is to be rather wished for, than expected, I see [...] present that can supply the use of Mony, for paying Rents, Debts, and Taxes, but Tallies payable [...]

[...] have contemplated the ill Consequences that the Tallies payable in Course, and the long Funds and must inevitably have yet, I had not adventured to publish my thoughts, but that I think [...] [...]t state of Affairs makes it not only a Conveniency, but an absolute Necessity; for it puzzles the best [...] Heads I have Conversed with, to answer this only Question. How it will be even possible to [...] Debts, and Taxes, and carry on Trade, and pay Bills (especially foreign Bills of Exchange) after the [...] May next? For New Mony can't be very current by that time.

[...]' I think it is very late for this to take place, yet better late than never.

Parliament would but make an Experiment for the 2500000 l. they still want on the Fund of [...] and impower the Treasury to borrow 600000 l. and let that remain to Circulate, Tallies pay­ [...] [...]mand for the whole 2500000 l. with Interest at 4 or 5 per Cent. for one year only, it would [...] Nation a great Summ of Mony of the very Interest, and Supply the Trade of London, and thereby [...] plentiful in the Country, and be found so useful and necessary, that I don't doubt but they would [...] not only to continue it, but to raise more Mony the same way next, and other years, and save [...] [...]ax.

[...] [...]nly Objection that has any appearance of Reason is, that it may give too large a Power to the [...]

(how specious soever it may appear) has nothing of relaity in it; for those that have the Manage­ [...] [...]of, being limited to a certain Sum, they can no more give out Tallies payable on demand, exceeding [...] [...]mited by Parliament, than of those payable in course; for all these Tallies may be numbred, and the [...]pt as exactly as now.

[...] [...]s no real difference between this way, and the common way, but that at present the Tallies are [...] [...]nly in course as the Taxes come in; this makes them payable at demand, and Mony kept to Cir­ [...] [...], which will make them useful in payments of Rents, Taxes, &c. as above.