HAving laid open my Books on the 11th Day of June , to receive Subscriptions for a FUND for a NATIONAL LAND BANK , and Gentlemen coming in faster with their Estates than some Persons expected ; our Lincoln's-Inn Undertakers ( for so I call the first Promoters , and not such who have unwarily joined with them ) did thereupon publish a Silly Pamphlet under the Title of the Free-Holders Answer , hoping thereby to put a stop to my Subscriptions : and tho as some Gentlemen well observ'd , it deserv'd rather Contempt than an Answer , yet I thought it not amiss to lay hold of this Opportunity to give the Free-holders a truer Account of this wonderful Lincoln's-Inn Bank , than the Undertakers have done in a late Paper , intituled , An Account of the Land-Bank , and to shew them what mighty Feats , they , or such who have given notice to the Mortgagees for taking in their Money , in hopes of being supplyed by the said intended Bank , may expect from the said Undertakers . But withal I shall carefully avoid all Scurrilous Expressions ; only thus much I shall take leave to say , That those Undertakers ought above all other Men to forbear reflecting on others , and that as I was not ashamed to print my Name to my Proposals , which for very good Reason they forbear to do to theirs ; so none who have subscribed in my Books , have ever wish'd ( as several of the Subscribers to the Lincoln's-Inn Bank have done ) That the first Promoters had been Men of clearer Reputations .

But in answer to the Pamphlet ; they tell us , That the Free-holders of England do not stand on the same Foot of Credit with Merchants and Traders ; for a Trader worth but a Thousand Pounds may borrow more Money on his Note , than a Gentleman that has 1000 l. per Annum .

And what of all this ? Do our Undertakers pretend to better his Credit ? No , they tell him he shall have Money for 3 l. 10 s . per Cent . per Annum , if he will make over his Estate to them for a Security , and suffer them to Charge his Land with Bills for the like value ; so that the Gentleman is to create them a Fund , and come Cap in Hand to our Undertakers for a few of their Bank-Bills , which if any one takes , it is because they are secured by the Gentleman's Estate , who notwithstanding is not likely to be a Penny Gainer by the Bank : While our Undertakers propose ( as appears by their Printed Paper ) to get 30 or 40 l. per Cent . per Annum profit to themselves : So that in deed it is the Gentleman's Estate they trust , and not the Gentleman himself , or rather he trusts them with his Estate wherewith to raise themselves a Reputation ; Without which they well know no Body will credit them , nor their Bills .

In the next Place our Undertakers say , That I propose to my self a fourth part of the clear Profits according to my Proposals .

And what if I had proposed the whole ? or what Profit is the Freeholder to receive out of theirs ? Is not the Free-holder under better Circumstances with me if they have Money for 3 l. 0 s . 10 d . per Cent . per Annum , and three fourth parts of the Profits , than with our Undertakers , who propose to furnish them for 3 l. 10 s . per Cent . per Annum , without one Farthing advantage ? But whoever reads over my last printed Proposals will find , That the Profit of the NATIONAL LAND-BANK is to be divided among the Subscribers in proportion to their several Subscriptions .

But say our Undertakers , The Objection and Reason why the Freeholders do not subscribe , is , Because I tell them they shall have Money or Notes upon their Lands for 3 l. per Cent . per Annum , and yet refuse to tell them where the Money is to be had , &c.

Yes , Mr. Undertakers ; tho my Books have lain open but half the time as yours have , I have already Subscriptions for the value of five times more than you can pretend to : But I know there lies your Grievance ; and several have been nibbling at me to know my Methods of raising Money : But now I shall give the Freeholder one Reason more than I have yet done , why I do not discover my said Methods , viz. On Wednesday the 26th of June , a Subscriber to the Lincolns-Inn-Bank meeting me ; after the usual Complement , says he , Mr. Briscoe why will you not agree with us ? I knowing nothing of his being a Subscriber to the said Bank , told him I knew not of any Difference I had with him : He then told me he had subscribed to the Lincolns-Inn-Bank , and that he would fain have a Coalescence , which was his word : I answered him , that I had no reason to come under those who had built upon my Foundation : He replied , It is true , I acknowledg they have borrowed their Methods from you ; but when a Man hath once published what he knows in Print , it is no longer his , but any Man's that will make use of it . I told him , If I left my Door open all night I might indeed expect to be robb'd , but would not believe any honest Man would join in the Robbery ; and that I was troubled to see such honest Gentlemen , as I took him and some others to be , concerned with Persons , who by their own Confessions , went about to deprive me of the Fruit of my Labours : But , adds the Gentleman , you keep the main Secret of raising Money , behind the Curtain ; and Gentlemen are dissatisfied , because they cannot imagin where the Money will he had . I told him he had given me a very good Reason why I ought not to discover it , in saying , That when I had once divulged it , it was no longer mine but any others that would make use of it . But because our Undertakers make such a great Bluster about Money , I think fit to acquaint our Freeholder , That there is a great Difference between subscribing and paying 100000 l. the one without the other , being but like the Jingling of a Shilling between two empty Dishes ▪ And I have been told by some of the Subscribers to the said Intended Bank , that several had subscribed 1000 l. apiece , whom they were satisfied knew not where to raise so many Shillings . But however , those Gentlemen being so well acquainted with Dego's Answer , they cannot be at a loss what to say when their Subscription-Money shall come to be called for . And since I am upon this Subject , I will add one Passage more between another of their Society and me ; who pressed me very earnestly to join with them , bidding me make my own Demands : I told him I did not approve of their Constitution , for that they had built upon an unfirm Foundation ; and if I came in among them , I should advise to the cutting to pieces their Deed of Settlement , which they so much valued themselves upon , and had given Councel so much trouble to peruse ; telling him likewise , That I resolved to proceed upon my own bottom , and therefore if they had a mind to join they might come in with me : To which he repl●ed , That they could turn themselves into any Shape , and make what Alterations they thought fit ; and that I could do nothing but they had reserved to themselves a Liberty to do the same .

I could add much more of the like nature , but shall forbear . Now since these Gentlemen act upon such Principles , I leave it to any Man to judg whether or no I have reason to discover my Methods .

But without discovering any thing of my Intended Methods of raising Money , which I am not to be trickt out of by our Undertakers ; I will convince the Freeholder out of their printed Paper , intituled , An Account of the Land-Bank , that if they are not out in their reckoning I cannot want Money for to make good what I have proposed .

They tell us , That there is two or three Millions owing at Interest upon the Land : That how great soever the Sums are that are owing at Interest upon Land , it may be all lent by the Bank , and the Bills paid on demand , and circulated with one hundred thousand Pounds ; but yet , if by Experience it shall be found not sufficient , there is a Provision in the Settlement for the Subscribing one hundred thousand Pounds more , for which the first Subscribers are to have the Preferrence . Now suppose our Undertakers should lend Bills to the value but of two Millions , and that the whole two hundred thousand Pounds were raised to circulate the two Millions , and that none of the Subscribers ( for this once ) should make use of Dego's Answer , I hope it is plain that in such Case they must circulate 1000 l. Bills with 100 l. in Money ; now I do not find them to be such Conjurers but another may do as much as they : If therefore the National Land-Bank issue out no Bills , they will want to Money to circulate them , if they do they will have 3 l. 0 s . 10 d . per Cent . per Annum Interest for them , which is 30 l. 8 s . 4 d . per Annum for very 1000 l. value in Bills that they shall issue out , and for every 1000 l. Bills must be given about 1300 l. value real Security : And according to our Undertakers Notion 100 l. in Money will circulate 1000 l. Bills . Now I will refer it to any Rational Man , whether the National Bank upon 1300 l. Security cannot raise , and if out of 30 l. 8 s . 4 d . per Annum they cannot afford to pay Interest for 100 l. in Specie ; if no better way could be found out to raise Money . And therefore , with our Undertakers leave , I see no occasion to shut up my Books , which I know they earnestly long for , that they may have an Opportunity to make a Penny of the Free-holders .

Ay but say our Undertakers , Mr. Briscoe read over our Settlement , and could make no Objection against it , but desired to be a Subscriber for 1000 l. without paying any Money .

It is well known that I did object against it to some of their Company , and gave them the Reasons for such my Objections ; and I told the same Person that one of the Undertakers had offer'd me to subscribe 1000 l. and that I should not pay in any Money , but that I would not be concerned with them on such dishonourable Terms ; but I find that is but a common Kindness they afford to several others , whose Subscriptions , tho they may serve to swell up the Sum , will I doubt go but a little way in the circulating of their Bills .

I shall add something farther , by way of Parallel , between the National Land-Bank and the pretended Lincoln's-Inn Bank .

The National Land-Bank is properly so called , the Fund being Land , the Society Landed Men , who appoint Landed Men to be Trustees , Governours , Treasurers , &c. and displace them at pleasure .

The Lincolns-Inn Bank assume the Name of a Land-Bank improperly ; for Money is their Fund , the Society Monied Men , who appoint Trustees , Directors , &c. wherein the Landed Men have no Vote , not so much as for a Door-keeper .

The National Land-Bank furnishes the Landed Men with Money , for 3 l. 0 s . 10 d . per Cent . per Annum , among whom all the Profits of the Bank are to be divided .

The Lincolns-Inn Bank proposes to furnish the Landed Men for 3 l. 10 s . 0 d . per Cent . per Annum , but do not allow them one Penny advantage by the Bank .