A proposal for a subscription to raise one hundred thousand pounds, for circulating the credit of a land-bank. This text is an enriched version of the TCP digital transcription B28427 of text R224657 in the English Short Title Catalog. Textual changes and metadata enrichments aim at making the text more computationally tractable, easier to read, and suitable for network-based collaborative curation by amateur and professional end users from many walks of life. The text has been tokenized and linguistically annotated with MorphAdorner. The annotation includes standard spellings that support the display of a text in a standardized format that preserves archaic forms ('loveth', 'seekest'). Textual changes aim at restoring the text the author or stationer meant to publish. This text has not been fully proofread Approx. 5KB of XML-encoded text transcribed from 1 1-bit group-IV TIFF page image. EarlyPrint Project Evanston,IL, Notre Dame, IN, St. Louis, MO 2018 B28427 Wing P3689 Interim Tract Supplement Guide 816.m.10[9] ESTC R224657 ocm99885569

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 Early English books online text creation partnership. (EEBO-TCP ; phase 2, no. B28427) Transcribed from: (Early English Books Online ; image set 185333) Images scanned from microfilm: (Early English books; Tract supplement ; C1:2[9]) A proposal for a subscription to raise one hundred thousand pounds, for circulating the credit of a land-bank. 1 sheet ([1] p.). s.n., [London : 1695] Imprint from Wing. Caption title. Reproduction of original in the British Library.

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 eng Land banks -- England -- Early works to 1800. eebo A proposal for a subscription to raise one hundred thousand pounds, for circulating the credit of a land-bank. . n/a 1695 1 738 2 0 0 0 0 0 27.1 C The rate of 27.1 defects per 10,000 words puts this text in the C category of texts with between 10 and 35 defects per 10,000 words. 2014-06 Keyed and coded from ProQuest page images 2014-08 Sampled and proofread 2014-08 Text and markup reviewed and edited 2015-03 Batch review (QC) and XML conversion
A Proposal for a Subscription to Raise One Hundred Thousand Pounds , For Circulating the Credit of a Land-Bank .

THIS short Experience , since the Bank of England has bee● set up , has sufficiently discovered the great Advantage from it , to the Government and Trade , by Lowring the Interest on Tallies , Bills of Exchange , and Money on Goods , which seems the Business of the Bank .

And on the contrary , the Prejudice from it to the Owners of Lands and Houses , doth as plainly appear ; For the Current of Money being so greatly turned into the Bank , has made it Difficult to Supply real Securities with Money ; and hath thereby Raised the Interest upon them , and Sunk the Values of Lands .

This ill Effect caused a general Clamour of the Landed Men of England ; Which to Pacifie , An Order from the Directors of the Bank was published in the Gazett , That they would Lend Money on Land .

The Reasons that might Divert them , so as to do Little in it , might probably be These :

First , That the Directors being Merchants , and Traders , and not Acquainted with the Titles and Values of Land , might not be such proper Persons to deal in them .

Secondly , That the Money Lent on Mortgages seems Difficult , and slow in Returning . And Lastly , The Profit seems Small .

Upon the Consideration of the First , The Authors of the Settlement 〈◇〉 the Land Bank , found it absolutely necessary , that the Majority of the Governours should at the First Settlement be Lawyers , whose Study and Practice have made them more Acquainted with the Titles and Values of Land .

And therefore the Design of the Settlement is , That Ten Gentlemen of the Bar , that Subscribe , and pay down the Sum of Money in manner as hereafter is expressed , shall be Ten of the First Governours of the Bank .

As to the two latter Reasons , That the Money lent on Land will be difficult and slow in Returning , and of small Profit ; they must be answered by the methods in the Settlement and Experience thereupon to the contrary : By which it will appear , That Money lent on Land may be as easily and quickly Returned , as Money on Goods or Bills of Exchange . And as for the Profit of this Bank , if it be considered as Rent on Land , and that Twenty Shillings in Rent is equal to Twenty Pounds in Money ; this 100000 l. Stock may perhaps at the Years end make up the Account of Profit equal to a much greater Sum in other Stocks .

And besides the Profit , the Subscribers will hereby lessen the Interest of Money on Land , as much , if not more , than the Bank of England has done it on Bills of Exchange or Goods , and will raise the Value of all the Lands of England , and thereby preserve many Families of the Nobility and Gentry from Ruin .

The PROPOSALS are :

THAT no Person Subscribe less than 100 l. nor more than 5000. of which 20 l. Per Cent. is to be paid down as soon as 30000 l. is Subscribed , and the Residue as the Governours of the Bank shall call for it ; with a Rebate of Interest for the said 20 l. per Cent . till the whole 100000 l. be Subscribed .

That every Person that Subscribes , shall have One Vote in Choosing the Governours , and no Person more than Ten .

That the Governours are to be One and Twenty , and chosen Yearly ; and that every Person that Subscribes 1000 l. is capable of being Chosen one of the Governours .

There are other particulars in the Settlement , too large here to Insert ; and therefore for the satisfaction of those that shall Subscribe , the whole Settlement is Transcribed in the Subscription-Book for any Gentleman to Read , if he pleaseth , before he Subscribes .

The Subscription-Book lyes Open , at the Chamber over the Stamp-Office in Lincolns-Inn , and will continue there till the Subscriptions are Compleated .