J.
C's
OBSERVATIONS
Examined
.
THe
Consistency
of
Kingdoms
and
Commonwealths
in
their
Politick
Estate
,
compos'd
of
a
numberless
Number
of
rational
Individuals
,
variously
Opinion'd
;
yet
●…
ubjugated
by
the
callid
contrivances
of
ambitious
Animals
,
of
the
●…
ame
Species
with
themselves
,
su●…
erscrib'd
with
the
Artificial
Term
●…
AW
,
is
none
of
the
least
Won●…
ers
in
Nature
.
But
Practice
,
the
●…
reat
faciliatrix
of
all
humane
Af●…
irs
,
hath
made
this
Obedience
so
●…
miliar
,
that
unless
by
irregular
Motions
we
have
forgotten
to
aspire
,
Yet
is
not
the
desire
of
Dominion
in
us
so
totally
extinguisht
,
but
that
some
sparks
from
thence
sometimes
evaporate
.
And
as
none
of
the
precedent
ages
of
the
World
hath
passed
over
,
without
production
of
some
persons
busying
themselves
in
the
grand
concernments
of
the
Kingdom
,
so
this
latter
hath
redounded
with
many
:
some
in
matters
of
Religion
,
others
of
Government
;
some
in
Affairs
of
State
,
others
of
Trade
,
&c.
of
which
later
,
my
present
Author
is
become
a
zealous
well-willer
of
Reformation
.
And
although
upon
my
first
perlection
of
his
Book
,
I
could
subscribe
to
few
of
his
Opinions
;
yet
I
had
no
inclination
to
tell
him
so
,
especially
in
Print
;
for
I
am
well
admonished
,
Faciendi
libros
multos
nullum
esse
finem
.
But
being
conjur'd
thereunto
by
an
ingenious
and
judicious
Gentleman
,
and
having
some
spare
hours
,
which
yet
(
I
must
confess
)
might
have
been
more
profitably
imploy'd
,
I
was
prevail'd
withal
,
to
take
some
considerations
thereupon
,
and
afterwards
to
publish
them
.
And
so
I
pass
to
my
Author
.
Paragraph
I.
THe
prodigious
increase
of
the
Netherlanders
in
their
Domestique
and
Forreign
Trade
,
riches
,
and
multitude
of
Shipping
,
is
the
envy
of
the
present
,
and
may
be
the
wond●r
of
all
future
Generations
:
and
yet
the
means
whereby
they
have
thus
advanc'd
themselves
,
are
sufficiently
obvi
us
,
and
in
a
great
measure
imitable
by
most
●ther
Nations
,
but
more
easily
by
us
of
the
Kingdom
of
England
;
which
I
shall
endeavour
to
demonstrate
in
the
following
discourse
.
Examen
I.
't
is
very
natural
to
men
,
Invidere
opes
habentibus
,
to
emulate
their
richer
neighbours
;
and
so
may
it
be
with
Nations
.
But
how
the
increase
of
the
riches
of
the
Dutch
should
be
a
Wonder
,
and
yet
sufficiently
obvious
,
I
cannot
determine
.
Paragraph
II
.
Some
of
the
said
means
by
which
they
have
advanc'd
their
Trade
,
and
thereby
improved
their
Estates
,
are
these
following
.
Examen
II
.
Here
follows
the
Fleet
of
my
Authors
fifteen
Demonstrations
,
concerning
the
force
of
which
,
I
shall
little
enquire
,
more
then
of
the
last
,
whereupon
he
hath
erected
his
Flag
of
Defiance
.
But
alterno
pollice
ductus
,
I
cannot
steer
by
the
other
,
without
giving
some
Guns
of
salutation
.
Paragraph
III
.
First
,
They
have
in
their
greatest
Courcels
of
State
and
War
,
Trading-Merchants
,
that
have
lived
abroad
in
most
parts
of
the
World
;
who
have
not
only
the
theoretical
knowledge
,
but
the
practical
experience
of
Trade
;
by
whom
Laws
and
Orders
are
contriv'd
,
and
Peaces
with
forreign
Princes
projected
,
to
the
great
advantage
of
their
Trade
.
Examen
III
.
Trading
Merchants
,
&c.
The
greatest
Councels
of
the
Dutch
must
necessarily
contain
many
Merchants
,
when
few
others
are
amongst
them
capable
thereof
:
But
there
is
not
that
necessity
in
England
,
a
Countrey
abounding
with
many
Gentlemen
of
large
endowments
,
whereof
the
minor
part
are
Merchants
.
However
,
not
many
Laws
concerning
Trade
,
are
made
without
their
advice
.
Paragr
.
IV
.
Secondly
,
Their
Law
of
Gavel-kind
,
whereby
all
their
Children
possess
an
equal
share
of
their
Fathers
Estate
after
their
decease
,
and
so
are
n●t
left
to
wrastle
with
the
World
in
their
youth
with
inconsiderable
assistance
of
fortune
,
as
most
of
our
youngest
sons
of
Gentlemen
are
,
who
are
bound
Apprentices
to
Merchants
.
Exam
.
IV
.
Gavel-kind
,
&c.
The
Law
of
Gavel-kind
is
a
certain
Law
to
delete
the
grandeur
of
ancient
Families
,
and
at
last
to
extirpate
them
:
Which
foreseen
by
34
Gentlemen
at
one
time
of
the
County
of
Kent
,
where
this
Custom
most
prevail'd
;
they
(
to
prevent
those
evils
,
and
to
secure
their
posterity
from
crumbling
into
Yeomanry
,
wherewith
that
County
by
such
means
memorably
abounded
)
complained
thereof
in
Parliament
;
and
were
redrest
by
the
Statute
31
Hen
.
8.
cap
.
3
,
whereby
their
lands
were
decreed
to
discend
as
Inheritance●
at
the
Common
Law
.
And
therefore
,
although
this
Law
may
be
convenient
for
Holland
,
yet
't
is
altogether
inconvenient
for
England
,
even
among
Merchants
themselves
;
where
experience
assures
us
,
That
men
of
small
beginnings
become
industrious
,
and
acquire
bigger
Fortunes
then
those
of
great
.
Paragr
.
V.
Thirdly
,
their
exact
making
of
all
their
native
commodities
,
and
packing
of
their
Herrings
,
Godfish
,
and
all
other
Commodities
which
they
send
abroad
in
great
quantities
:
the
consequence
whereof
is
,
that
the
repute
of
their
said
Commodities
abroad
continues
always
good
,
and
the
buyers
will
accept
of
them
by
the
Marks
,
without
opening
;
whereas
the
Fish
which
our
English
make
in
New-found-land
and
New-England
,
and
Herrings
at
Yarmouth
,
often
prove
false
and
deceitfully
made
,
and
our
Pilchards
from
the
West-country
false
packed
,
seldom
containing
the
quantity
for
which
the
Hogsheads
are
marked
in
which
th●y
are
packed
.
And
in
England
the
attempts
which
our
fore-fathers
made
for
regulating
of
Manufactors
,
when
left
to
the
execution
of
some
particular
person
,
in
a
short
time
resolved
but
into
a
Tax
upon
the
Commodity
,
without
respect
to
the
goodness
thereof
;
as
most
notoriously
appears
in
the
business
of
Aulnage
,
which
doubtless
our
predecessors
intended
for
a
scrutiny
into
the
goodness
of
the
Commodity
;
and
to
that
purpose
a
Seal
was
invented
,
as
a
Signal
that
the
Commodity
was
made
according
to
the
Statutes
;
which
Seals
,
it
is
said
,
may
n●w
be
bought
by
thousands
,
and
put
upon
what
the
buyers
please
.
Exam
.
V.
Packing
of
their
Fish
,
&c.
This
indeed
is
obvious
,
That
if
the
English
Merchants
Fish
be
not
so
good
,
and
as
well
packt
as
are
the
Dutch
,
they
cannot
expect
for
them
so
good
a
Market
:
Namquaeque
valet
tanti
,
quanti
merx
venditur
omni
.
Aulnage
,
&c.
The
duty
of
Aulnage
,
by
importation
of
the
word
,
seems
rather
to
me
,
to
be
primarily
intended
for
Hallage
,
or
Warehouse-room
,
then
for
inspection
of
the
Commodity
.
But
concerning
that
,
we
will
have
no
difference
.
Paragr
.
VI
.
Fourthly
,
their
giving
great
encouragement
and
immunities
to
the
Inventors
of
new
Manufactures
,
and
the
Discoverers
of
any
new
Mysteries
in
Trade
,
and
to
those
that
shall
bring
the
Commodities
of
other
Nations
first
in
use
and
practice
amongst
them
,
for
which
the
Author
never
goes
without
his
due
reward
allow'd
him
at
the
publike
charge
.
Exam
.
VI
.
Due
reward
,
&c.
So
is
it
in
England
;
for
the
encouragement
of
Ingenuity
,
the
discoverer
shall
have
the
first
fourteen
years
profit
to
himself
,
by
the
Statute
21
Jac
.
cap
.
3.
Paragr
.
VII
.
Fifthly
,
their
contriving
and
building
of
great
Ships
to
sail
with
small
charge
,
not
above
one
third
of
what
we
are
at
,
for
Ships
of
the
same
burthen
in
England
;
and
compelling
their
said
Ships
,
being
of
small
force
,
to
sail
always
in
Fleets
,
to
which
in
all
times
of
danger
they
allow
Convoy
.
Exam
.
VII
.
Their
contriving
,
&c.
If
we
are
at
more
charge
in
the
making
and
sailing
of
our
Ships
,
it
is
retributed
in
their
being
better
,
and
sailing
faster
.
But
if
a
defect
of
skill
be
,
I
have
charity
to
thinks
't
is
more
our
misfortune
then
fault
.
To
sail
in
Fleets
,
&c.
This
is
a
care
(
I
conceive
)
left
to
all
Mariners
discretion
.
Paragr
.
VIII
.
Sixthly
,
their
parsimonious
and
thrifty
living
,
which
is
so
extraordinary
,
that
a
Merchant
of
100000
l.
estate
with
them
,
will
scarce
spend
so
much
per
an
.
as
one
of
1500
l.
in
London
.
Exam
.
VIII
.
Will
scarce
spend
,
&c.
Though
the
disproportion
of
estate
here
be
very
great
,
I
shall
not
now
question
it
.
But
in
expence
,
I
do
believe
the
Dutch
are
left
to
their
liberty
as
we
are
:
those
that
will
be
good
husbands
may
;
and
those
that
will
not
,
qui
coenas
&
plumas
Sardanapali
amant
,
have
no
Law
to
restrain
them
.
Paragr
.
IX
.
Seventhly
,
the
Education
of
their
Children
,
as
well
daughters
as
sons
;
all
which
,
be
they
never
of
so
great
quality
or
estate
,
they
always
take
care
to
bring
up
to
write
perfect
good
hands
,
and
to
have
the
full
knowledge
and
use
of
Arithmetick
and
Merchants
Accompts
;
the
well
understanding
and
practice
whereof
,
doth
strang●ly
infuse
into
most
that
are
the
owners
of
that
quality
of
either
sex
,
not
onely
an
ability
for
Commerce
of
all
kindes
,
but
a
strong
aptitude
,
love
and
delight
in
it
:
and
in
regard
the
women
are
therein
as
knowing
as
the
men
,
it
doth
encourage
their
husbands
to
hold
on
in
their
Trades
to
their
dying
days
,
knowing
the
capacity
of
their
wives
to
get
in
their
Estates
,
and
carry
on
their
Trades
after
their
deaths
:
whereas
if
a
Merchant
in
England
arrive
at
any
considerable
estate
,
he
commonly
withdraws
his
estate
from
Trade
before
he
comes
neer
the
confines
of
old-age
;
reckoning
,
that
if
God
should
call
him
out
of
the
world
while
the
main
of
his
estate
is
engaged
abroad
in
Trade
,
he
must
lose
one
third
of
it
,
through
the
unexperience
and
unaptness
of
his
wife
to
such
affairs
;
and
so
it
usually
falls
out
.
Besides
,
it
hath
been
observed
in
the
nature
of
Arithmetick
,
that
,
like
other
parts
of
the
Mathematicks
,
it
doth
not
onely
improve
the
rational
faculties
,
but
inclines
those
that
are
expert
in
it
to
thriftiness
and
good
husbandry
,
and
prevents
both
husbands
and
wives
in
some
measure
from
running
out
of
their
estates
,
when
they
have
it
always
ready
in
their
heads
what
their
expences
do
amount
unto
,
and
how
soon
by
that
course
their
ruine
might
overtake
them
.
Exam
.
IX
.
The
Education
,
&c.
The
trading
part
of
the
people
of
England
generally
,
as
well
as
the
Gentry
,
give
their
children
good
education
,
and
as
much
as
they
deem
needful
;
there
being
no
direct
necessity
of
making
them
all
Merchants
.
But
that
which
my
Author
discommends
them
in
,
renders
them
more
praise-worthy
:
for
if
most
men
should
here
spin
out
the
threds
of
their
whole
lives
in
their
Professions
,
it
would
rather
discommodate
,
then
advantage
the
Nation
,
by
excluding
Succession
.
Paragr
.
X.
Eighthly
,
the
lowness
of
their
Customs
,
and
the
height
of
their
Excise
,
which
is
certainly
the
most
equal
and
indifferent
Tax
in
the
world
,
and
least
prejudicial
to
any
people
,
as
might
be
made
appear
,
were
it
the
subject
of
this
discourse
.
Exam
.
X.
That
Tax
which
is
most
advantageous
to
the
King
,
and
least
burthensome
to
the
people
,
is
certainly
the
most
grateful
.
But
whether
Excise
be
so
,
it
lies
not
in
my
way
to
inquire
.
Paragr
.
XI
.
Ninthly
,
The
careful
providing
for
,
and
imployment
of
their
poor
,
which
it
is
easy
to
demonstrate
,
can
never
be
done
in
England
,
comparatively
to
what
it
is
with
them
,
while
it
is
left
to
the
care
of
every
Parish
to
look
after
their
own
only
.
Exam
.
XI
.
The
careful
providing
,
&c.
The
course
that
the
Dutch
take
to
imploy
and
provide
for
their
poor
,
is
not
feasible
in
England
,
nor
can
be
so
,
unless
you
will
suppose
England
to
be
,
what
in
truth
it
is
not
,
onely
a
Warehouse
for
trade
,
as
Holland
is
.
And
there
is
no
doubt
,
if
with
us
a
better
way
had
been
then
the
Laws
have
ordained
,
some
Parliament
or
other
had
ere
this
,
found
it
out
.
Paragr
.
XII
.
Tenthly
,
Their
use
of
Banks
,
which
are
of
so
immense
advantage
to
them
,
that
some
not
without
good
grounds
have
estimated
the
profit
of
them
to
the
Publique
,
to
amount
to
at
least
one
million
of
pounds
sterling
per
ann.
Exam
.
XII
.
Their
use
of
Banks
,
&c.
The
Bank
of
Amsterdam
,
to
omit
the
rest
which
are
less
considerable
,
hath
made
a
great
noise
in
the
World
;
the
value
thereof
being
calculated
at
many
millions
:
and
no
doubt
but
it
hath
been
of
great
advantage
to
many
persons
,
who
have
placed
money
there
,
and
received
the
same
with
interest
when
their
occasions
have
wanted
it
;
which
(
according
to
the
laudable
custome
of
some
of
our
Bankers
in
London
)
hath
been
punctually
payd
.
But
when
it
hath
been
considered
,
that
this
Bank
is
nothing
else
but
a
Treasury
or
Repository
for
Mony
,
and
that
the
interest
of
one
sum
is
paid
out
of
the
principal
of
another
;
and
that
the
value
thereof
can
be
no
otherwise
estimated
then
by
the
Debt
it
hath
contracted
;
It
has
been
concluded
that
this
Bank
is
in
truth
Bankrupt
,
and
at
last
fulminans
saevo
ore
minas
,
must
break
like
the
Thunder-claps
of
Jupiter
;
which
hath
caused
the
credit
thereof
to
be
declin'd
by
many
of
the
wiser
men
of
that
Nation
.
Therefore
what
advantage
Banks
will
be
to
us
of
this
Kingdom
,
I
understand
not
,
more
then
some
ease
to
Merchants
and
Publique
dealers
in
receiving
and
payment
of
their
Moneys
;
and
in
that
case
only
they
may
be
necessary
,
I
cannot
say
convenient
.
But
if
it
be
intended
that
these
Banks
shall
allow
interest
for
Money
deposited
in
them
,
it
is
impossible
they
should
continue
;
and
if
it
be
not
so
intended
,
I
cannot
see
that
immense
benefit
they
can
bring
to
the
Commonwealth
.
And
whereas
many
men
conceive
a
good
opinion
of
publick
Banks
,
having
been
well
dealt
withal
by
private
,
for
that
those
persons
who
have
taken
up
large
sums
of
Money
,
have
given
the
utmost
rate
of
Interest
,
and
yet
comply'd
with
the
Lender
in
all
their
obligations
in
point
of
time
;
which
though
it
be
true
of
some
,
yet
it
may
be
considered
,
that
those
Gentlemen
must
make
ten
per Cent
.
of
the
Money
they
so
borrow
,
aut
in
exitium
praecipitare
,
or
go
backwards
.
And
this
must
be
done
,
either
by
Trade
,
Chevisance
,
or
by
Loan
.
If
by
Trade
,
and
their
intendments
therein
prove
unsuccessful
,
as
often
they
do
with
persons
of
far
greater
intelligence
,
&c.
or
Loan
,
and
the
illegality
be
discovered
and
punished
,
as
it
may
justly
happen
,
notwithstanding
the
privity
or
species
of
its
management
;
In
either
of
these
cases
,
the
damage
in
great
probability
must
mediately
fall
upon
the
Lender
.
And
seldom
have
I
known
Projectors
,
Law-breakers
,
or
persons
procuring
unreasonable
Bargains
to
themselves
,
that
in
the
end
have
got
any
thing
thereby
but
loss
:
and
although
such
persons
may
not
presently
sink
under
these
indamagements
(
for
he
that
has
credit
for
40000
l.
cannot
fail
by
the
loss
of
twenty
)
yet
at
last
they
must
yeild
to
Fate
,
when
death
,
linea
quae
summas
&
sortes
eximitimos
,
takes
them
away
,
or
the
grand
Test
of
every
man's
calling
for
his
own
.
Paragr
.
XIII
.
Eleventhly
,
Their
Toleration
of
different
Opinions
in
matters
of
Religion
,
by
reason
whereof
many
industrious
people
of
other
Countries
that
dissent
from
the
established
Government
of
their
own
Churches
,
resort
to
them
with
their
Families
and
Estates
,
and
after
a
few
years
cohabitation
with
them
,
become
of
the
same
common
interest
.
Exam
.
XIII
.
Their
Toleration
,
&c.
That
Toleration
in
Religion
should
be
a
proximate
cause
of
Trade
,
and
so
of
Riches
,
I
am
yet
to
be
convinc'd
:
but
on
the
contrary
,
union
in
Religion
rather
begets
Correspondency
the
mother
of
Commerce
,
which
Toleration
destroys
.
For
a
peobound
in
a
general
Society
,
are
calm
and
temperate
;
but
when
liberty
is
given
them
,
they
fall
into
particular
Factions
,
which
(
by
the
opportunity
of
publique
allowance
)
bandy
together
,
whereby
feuds
and
discontents
arise
;
and
fomented
by
their
precipitate
Agents
,
like
the
pugnation
of
malignant
humours
in
the
Body
,
tend
to
the
destruction
of
the
whole
.
Paragr
.
XIV
.
Twelfthly
,
Their
Law-Merchant
,
by
which
all
Controversies
between
Merchants
and
Tradesmen
are
decided
in
three
or
four
days
time
;
and
that
not
at
the
fortieth
part
,
I
might
say
in
many
Cases
,
not
the
hundredth
part
of
the
charge
they
are
with
us
.
Exam
.
XIV
.
Decided
in
three
or
four
days
,
&c.
Sudden
Judgment
must
needs
be
dangerous
to
the
people
,
who
in
few
days
may
not
be
so
well
provided
to
manage
their
Causes
,
as
in
many
;
and
none
in
matters
of
meum
and
tuum
ought
to
be
surpriz'd
.
Therefore
the
Common
Laws
of
England
for
decision
of
Controversies
have
due
commendation
beyond
all
other
Laws
of
the
World
.
Fortieth
part
of
the
Charge
,
&c.
The
excess
of
Fees
(
if
any
be
)
as
it
had
commencement
by
Custome
,
so
may
it
be
retrench'd
by
those
who
apprehend
it
a
Grievance
.
Paragr
.
XV
.
Thirteenthly
,
The
Law
that
is
in
use
amongst
them
for
transferrence
of
Bills
for
Debt
from
one
man
to
another
,
this
is
of
extraordinary
advantage
to
them
in
their
Commerce
;
by
means
whereof
they
can
turn
their
St●cks
twice
or
thrice
in
Trade
for
once
that
we
can
do
in
England
,
for
that
having
sold
our
Forreign
goods
here
,
we
cannot
buy
again
to
advantage
,
till
we
are
possest
of
our
Money
,
which
it
may
be
shall
be
six
,
nin●
,
or
twelve
months
in
recovering
.
And
if
what
we
sell
be
considerable
,
it
is
a
good
mans
work
all
the
year
to
be
following
Vintners
and
Shop
keepers
for
Money
.
Whereas
were
the
Law
for
transferring
Bills
in
practise
with
us
,
we
could
presently
after
sale
of
our
goods
dispose
of
our
Bills
,
and
close
up
our
Accounts
:
to
d
which
,
the
advantage
,
ease
,
and
accommodations
it
would
be
to
Trade
is
so
great
,
that
none
but
Merchants
that
have
lived
where
that
Custome
is
in
use
,
can
value
its
due
proportion
.
Exam
.
XV
.
Transferrence
of
Bills
,
&c.
This
is
already
practised
in
England
by
many
,
especially
Merchants
:
but
if
it
should
have
the
Authority
of
a
general
Law
,
it
might
occasion
forgery
,
deceit
,
maintenance
,
&c.
against
which
many
wholsome
Laws
have
heretofore
been
provided
.
And
many
other
evils
there
are
that
may
thereupon
happen
,
which
cannot
easily
be
foreseen
.
For
the
turning
of
the
streams
of
Law
,
are
like
the
turning
of
great
Rivers
,
which
not
securely
done
,
threatens
destruction
to
the
undertakers
.
Paragr
.
XVI
.
Fourteenthly
,
Their
keeping
up
publike
Registers
of
all
Lands
and
Houses
sold
or
mort-gag'd
,
whereby
many
chargeable
Law-suits
are
prevented
,
and
the
securities
of
Land
and
Houses
rendred
indeed
,
such
as
we
c●mmonly
call
them
,
real
securities
.
Exam
.
XVI
.
Publique
Registers
amongst
us
(
I
fear
)
would
prove
more
fatal
in
their
consequences
,
then
commodious
in
their
use
;
wounding
Credit
,
the
ligament
of
Society
,
to
its
great
injury
,
if
not
destruction
.
For
what
Gentlemen
,
aswel
those
whose
intayl'd
Estates
shall
appear
upon
Record
,
as
those
whose
Estates
shall
there
disppear
,
will
be
trusted
?
And
Gentlemen
who
now
desire
privacie
in
their
transactions
,
will
by
this
way
make
them
publike
?
So
will
it
gratifie
neither
the
Lender
nor
the
Borrower
.
Besides
,
it
may
rather
beget
Suits
then
prevent
them
.
For
false
Conveyances
may
be
Registred
aswel
as
true
;
and
with
this
Authority
of
right
,
the
Cheat
having
a
better
face
,
may
pass
the
curranter
;
which
will
be
a
means
to
put
the
cunning
Veterators
of
the
Law
upon
the
sins
of
Forgery
and
P●rjury
,
&c.
Paragr
.
XVII
.
Lastly
,
The
lowness
of
Interest
of
Money
with
them
,
which
in
peaceable
times
exceeds
not
three
per Cent
.
per
ann.
and
is
now
during
the
War
with
England
not
above
four
per Cent
.
at
most
.
Some
more
particulars
might
be
added
,
and
those
aforesaid
farther
improved
,
were
it
my
purpose
to
discourse
at
large
of
Trade
.
But
seeing
most
of
the
former
particulars
are
observed
and
granted
by
a●l
men
that
make
it
any
part
of
their
business
to
inspect
the
true
nature
and
principles
of
Trade
,
but
the
la
t
is
not
so
much
as
taken
notice
of
by
the
mo●t
ingenious
,
to
be
any
cause
of
the
great
increase
of
the
Riches
and
Commerce
of
that
People
;
I
shall
therefore
in
this
Paper
confine
my
s●lf
to
write
principally
my
Observations
touching
that
,
viz.
The
profi●t
that
that
People
have
recieved
,
and
any
other
may
receive
,
by
reducing
the
Interest
of
Money
to
a
very
low
rate
.
This
in
my
poor
Opinion
,
is
the
causa
causans
of
all
the
other
causes
of
the
Riches
of
that
People
;
and
that
if
interest
of
Money
were
with
us
reduced
to
the
same
rate
it
is
with
them
,
it
would
in
a
short
time
render
us
as
rich
and
considerable
in
Trade
as
they
are
now
,
and
consequently
be
of
greater
damage
to
them
,
and
advantage
to
us
,
then
can
happen
by
the
issue
of
this
present
War
,
though
the
success
of
it
be
as
good
as
we
can
wish
;
except
it
end
in
their
total
ruine
and
extirpation
.
Exam
.
XVII
.
The
lowness
of
Interest
,
&c.
This
is
the
great
point
on
which
my
Author
expatiates
;
and
to
proceed
methodically
,
he
sums
up
the
matter
into
a
Doctrinal
Position
,
à
causa
proegumena
,
The
profit
that
people
have
received
,
and
may
receive
by
reducing
Interest
of
Money
to
a
very
low
rate
:
and
this
he
endeavours
to
illustrate
rationem
itinere
;
but
what
Reasons
they
are
,
and
how
opposite
for
his
purpose
,
shall
be
enquired
.
Paragr
.
XVIII
.
To
illustrate
this
,
let
us
impartially
search
our
Books
,
and
inquire
what
the
state
and
condition
of
this
Kingdome
was
,
as
to
Trade
and
Riches
,
before
any
Law
concerning
Interest
of
Money
was
made
.
The
first
whereof
that
I
can
finde
,
was
Ann.
1545.
and
we
shall
be
informed
,
that
the
Trade
of
England
then
was
inconsiderable
,
and
the
Merchants
very
mean
and
few
:
and
that
afterwards
,
viz.
Anno
1635.
within
ten
yea●s
after
Interest
was
brought
down
to
eight
per
cent
.
there
was
more
Merchants
to
be
found
upon
the
Exchange
worth
each
one
thousand
pounds
and
upwards
,
then
were
in
the
former
days
,
viz.
before
the
year
1600
,
to
be
found
worth
one
hundred
pounds
each
.
And
now
since
Interest
hath
been
for
about
twenty
years
at
six
per
cent
.
notwithstanding
our
long
Civil
Wars
,
and
the
great
complaints
of
deadness
of
Trade
,
there
are
more
men
to
be
found
upon
the
Exchange
now
worth
ten
thousand
pound
Estates
,
then
were
then
of
one
thousand
pounds
.
And
if
this
be
doubted
,
let
us
ask
the
aged
,
whether
five
hundred
pounds
Portion
with
a
Daughter
sixty
years
ago
,
were
n●t
esteemed
a
larger
proportion
then
two
thousand
pounds
is
now
:
And
whether
Gentlew●men
in
those
days
would
not
esteem
themselves
well
cloathed
in
a
Serge
Gown
,
which
a
Chamber-maid
now
will
be
ashamed
to
be
seen
in
:
whether
our
Citizens
and
middle
sort
of
Gentry
now
,
are
not
more
rich
in
Cloaths
,
Plate
,
Jewels
,
and
Houshold
Goods
,
&c.
then
the
best
sort
of
Knights
and
Gentry
were
in
those
days
.
And
whether
our
best
sort
of
Knights
and
Gentry
now
,
do
not
exceed
by
much
in
those
things
the
Nobility
of
England
sixty
years
past
:
many
of
whom
then
would
not
go
to
the
price
of
a
whole
Sattin
Doublet
;
the
Embroiderer
being
yet
living
,
who
hath
assured
me
he
hath
made
many
hundreds
of
them
for
the
Nobility
with
Canvas
backs
.
Exam
.
XVIII
.
The
state
and
condition
,
&c.
That
the
Trade
of
England
was
not
so
considerable
formerly
to
what
it
has
been
of
late
,
as
I
cannot
remember
,
so
I
shall
not
deny
.
And
that
Merchants
are
worth
more
in
pecuniis
numeratis
then
antiently
they
were
,
I
do
believe
,
though
not
in
my
Authors
proportion
.
And
that
five
hundred
pounds
sixty
years
ago
had
the
esteem
that
2000
l.
has
now
,
may
be
true
.
And
that
the
Gentry
,
&c.
live
more
magnificently
now
then
formerly
,
may
be
so
to
.
But
that
this
increase
of
Trade
,
and
access
of
Wealth
,
is
to
be
ascrib'd
to
the
reduction
of
the
rate
of
Interest-Money
,
seems
to
me
not
only
improbable
,
but
irrational
;
and
any
other
remote
matter
might
aswel
have
been
assign'd
as
this
.
For
the
true
cause
of
the
magnitude
of
Trade
,
and
consequently
of
substance
,
ought
genuinely
to
be
imputed
to
these
,
viz.
That
Merchants
have
now
a
more
general
acquaintance
and
converse
in
the
World
,
many
parts
thereof
being
of
late
time
discovered
and
implanted
;
much
more
industry
used
;
Mens
understandings
therein
more
enlightned
and
improved
,
rather
then
their
Estates
advantaged
by
reduction
of
two
per
cent
.
per
annum
in
interest
.
And
there
is
no
doubt
if
a
lowness
of
Loan
would
have
heretofore
propagated
Commerce
,
King
Hen
.
the
third
,
Edward
the
third
,
and
Richard
the
second
,
who
were
all
very
studious
in
matters
of
Trade
,
and
made
divers
Laws
for
incouragement
of
Merchants
,
would
not
have
omitted
that
.
And
because
many
mens
Estates
are
now
like
tumors
risen
to
greater
bulks
then
formerly
,
it
is
not
so
much
by
acquisition
of
Riches
,
(
setting
their
late
advantages
of
Trade
aside
)
as
the
plenty
of
Gold
and
silver
,
which
of
late
time
in
great
abundance
have
been
washed
from
the
surface
,
and
drawn
from
the
bowels
of
the
Earth
.
And
that
is
the
reason
why
2000
l.
now
,
is
no
greater
a
portion
then
500
l.
sixty
years
ago
;
and
that
500
l.
sixty
years
ago
,
made
as
rich
a
man
as
2000
l.
now
.
And
doubtless
,
had
we
as
little
Money
in
quantity
now
,
as
was
then
,
it
would
do
so
again
.
By
the
Statute
made
Anno
1
Ed.
2.
he
who
had
20
l.
per
ann.
in
Lands
,
&c.
might
be
distrained
to
take
the
honour
of
Knighthood
.
Afterwards
in
the
18
H.
6.
when
Money
,
not
Land
was
more
plenty
,
A
Knights
fee
was
40
l.
per
ann.
And
now
no
man
is
thought
fit
to
receive
that
Dignity
in
respect
of
his
Estate
,
if
it
be
not
of
the
value
of
500
l.
per
ann.
And
it
cannot
be
well
imagined
,
That
men
of
mean
Estates
were
anciently
by
Law
compellable
to
take
Knighthoods
;
but
that
20
l.
per
annum
then
was
a
fair
Revenue
,
and
held
some
reasonable
proportion
,
both
in
quantity
of
Land
and
value
,
to
500
per
ann.
now
.
And
to
me
appears
no
greater
cause
of
this
improvement
,
then
the
large
quantities
of
Money
produced
by
the
price
of
our
Commodities
abroad
,
and
the
numerous
Posterity
at
home
that
hath
succeeded
.
As
to
that
instance
so
far
from
the
matter
,
concerning
the
Sattin
Doublets
,
or
the
excess
of
the
Gentry
now
,
and
their
providence
heretofore
,
shews
rather
the
difference
of
their
Husbandry
,
then
Thrift
.
For
't
is
very
rare
that
Gentlemen
thrive
by
paying
Interest
for
Money
long
,
let
them
procure
it
at
as
low
a
rate
as
they
can
.
Paragr
.
XIX
.
Which
way
ever
we
take
our
measures
,
to
me
it
seems
evident
,
that
since
our
first
abatement
of
Interest
,
the
riches
and
splendor
●f
this
Kingdom
is
increased
to
above
four
,
I
might
say
,
above
six
times
so
much
as
it
was
.
Exam
.
XIX
.
The
Gentleman
is
very
modest
in
this
conclusion
,
and
does
not
say
,
as
no
reason
he
has
,
That
the
Nation
is
improved
by
,
but
since
the
first
abatement
of
Interest-money
.
And
I
am
of
opinion
,
so
it
would
have
happened
,
if
not
better
,
had
no
abatement
at
all
been
.
For
that
Money
being
the
best
Merchandise
in
the
World
,
and
therefore
set
in
opposition
to
Lands
,
Goods
,
and
all
other
things
whatsoever
,
puts
a
value
thereupon
,
according
to
the
plenty
or
scarcity
thereof
:
for
if
Money
be
plentiful
,
Lands
are
dear
;
but
if
scarce
,
then
are
they
cheap
;
these
rising
and
falling
with
the
ebbing
and
flowing
of
the
others
;
so
that
the
Riches
of
the
Nation
may
be
said
to
consist
chiefly
,
if
not
only
in
that
commodity
.
Now
if
the
Money
of
the
people
,
aswel
as
the
other
parts
of
their
Estates
,
had
not
been
bound
in
by
the
chains
of
Law
,
but
left
at
liberty
to
be
imployed
to
the
best
advantage
,
why
might
not
all
our
concerns
have
been
in
as
prosperous
a
condition
,
if
not
more
;
And
we
in
stead
of
swimming
against
the
stream
,
have
sailed
with
it
?
So
hereafter
,
if
in
reducing
our
Money
by
a
Law
,
a
scarcity
thereof
ensue
,
it
being
the
very
nature
of
Reduction
to
beget
it
;
then
does
it
follow
,
that
all
things
purchaseable
with
Money
,
but
those
of
absolute
necessity
,
must
be
submitted
to
at
the
buyers
price
.
Paragr
.
XX
.
We
have
now
almost
one
hundred
Coaches
for
one
we
had
formerly
;
we
with
ease
can
pay
a
greater
Tax
n●w
in
one
year
,
then
our
Fore-fathers
could
in
twenty
.
Exam
.
XX
.
If
the
Positions
be
true
,
the
reasons
thereof
may
be
these
,
viz.
First
,
because
by
a
generous
Education
we
are
arrived
to
a
more
honorable
port
of
living
.
And
secondly
,
because
our
Industry
has
increast
our
fortunes
;
though
perchance
it
would
be
better
for
some
that
keep
their
Coaches
,
to
lay
them
aside
.
Paragr
.
XXI
.
Our
Customes
are
very
much
improved
;
I
believe
above
the
proportion
aforesaid
of
six
to
one
,
which
is
not
so
much
in
advance
of
the
rates
of
Goods
,
as
by
increase
of
the
bulk
of
Trade
:
for
though
some
Forreign
Commodities
are
advanc'd
,
others
of
our
native
Commodities
and
Manufactures
are
considerably
abated
by
the
last
Book
of
Rates
.
I
can
my self
remember
since
there
were
not
in
London
used
so
many
Wharfs
or
Keys
for
the
landing
of
Merchants
goods
,
by
at
least
one
third
part
as
now
they
are
:
and
those
that
were
then
,
could
scarce
have
imployment
for
half
they
could
doe
;
and
now
,
notwithstanding
one
third
more
used
to
the
same
purpose
,
they
are
all
too
little
in
a
time
of
Peace
to
land
the
Goods
at
that
come
to
London
.
Exam
.
XXI
.
The
Argument
of
this
Paragraph
must
either
be
against
my
Author
,
or
nothing
to
the
purpose
.
For
if
he
understands
Reduction
of
Interest
to
be
the
cause
of
the
Increase
of
the
Bulk
of
Trade
,
he
must
certainly
be
mistaken
;
for
't
is
plenty
of
Money
that
magnifies
Trade
,
which
(
I
think
)
will
be
concluded
by
no
wise
man
so
to
be
,
when
the
rate
thereof
is
reduc'd
,
as
when
unreduc'd
.
If
he
understands
it
otherwise
,
't
is
not
within
my
conuzance
.
Paragr
.
XXII
.
If
we
look
into
the
Country
,
we
shall
finde
Lands
as
much
improved
since
the
abatement
of
Interest
,
as
Trade
,
&c.
in
Cities
;
that
now
yielding
twenty
years
purchase
,
which
then
could
not
have
sold
for
above
eight
or
ten
at
most
.
Exam
.
XXII
.
And
we
might
have
found
Lands
as
much
improved
as
they
are
,
if
not
more
,
had
Interest
not
been
abated
.
But
I
was
never
before
informed
,
that
when
Momey
was
reduc'd
from
ten
per
cent
.
to
eight
,
Lands
were
at
less
then
twenty
years
purchase
.
And
I
well
remember
when
it
was
reduc'd
to
six
,
and
yet
Lands
started
not
from
that
rate
.
So
for
us
to
reduce
our
Money
lower
,
upon
presumption
of
making
Lands
dear
,
is
as
much
as
to
put
out
one
of
our
eyes
,
in
hopes
that
we
may
see
the
better
with
the
other
.
Paragr
.
XXIII
.
Besides
,
The
Rent
of
Farmers
have
been
for
these
last
thirty
years
much
advanc'd
;
and
although
they
have
for
these
three
or
four
last
years
fallen
,
that
hath
no
respect
at
all
to
the
lowness
of
Interest
at
present
,
nor
to
the
other
mistaken
Reasons
which
are
commonly
assigned
for
it
;
but
principally
to
the
vast
improvement
of
Ireland
,
since
a
great
part
of
it
was
lately
possest
by
the
industrious
English
,
who
were
Souldiers
in
the
late
Army
;
and
the
late
great
Land-Taxes
.
Exam
.
XXIII
.
Rent
of
Farmers
advanc'd
,
&c.
Cattle
and
Corn
,
(
cum
terra
atque
injuria
coeli
in
nos
conjurantia
alimenta
negassent
)
bearing
a
good
rate
,
set
Lands
somewhat
higher
in
their
yearly
value
.
But
since
(
terra
divite
luxuriante
proventu
)
they
are
both
fallen
,
Lands
are
so
too
.
And
because
this
falling
makes
(
as
my
Author
thinks
)
against
him
,
lowness
of
Interest
nothing
concerns
it
.
Improvement
of
Ireland
,
&c.
But
why
Ireland
(
since
the
Act
against
importing
Cattle
thence
has
little
advanced
them
here
;
and
the
Land-Taxes
which
not
much
concern
Tenants
)
should
be
assigned
for
cause
,
I
understand
not
.
Paragr
.
XXIV
.
More
might
be
said
,
but
the
premises
considered
I
judge
will
sufficiently
demonstrate
how
greatly
this
Kingdome
of
England
hath
been
advanc'd
in
all
respects
for
these
last
fifty
years
:
and
that
the
abatement
of
Int●rest
hath
been
the
cause
thereof
,
to
me
seems
most
probable
,
because
as
it
appears
it
hath
been
in
England
,
so
I
find
it
is
at
this
day
in
all
Europe
,
and
other
parts
of
the
World
;
insomuch
that
to
kn●w
whether
any
Country
be
rich
or
poor
,
or
in
what
proportion
it
is
so
,
no
other
Question
needs
to
be
resolved
,
but
this
,
viz.
what
Interest
do
they
pay
for
Money
?
Neer
home
,
we
see
it
evidently
in
Scotland
and
Ireland
,
where
ten
and
twelve
per
cent
.
is
paid
for
Interest
,
the
people
are
poor
,
and
despicable
,
their
persons
ill
cloathed
,
their
houses
worse
provided
,
and
Money
intolerably
scarce
,
notwithstanding
they
have
great
plenty
of
all
provisions
;
nor
will
their
Land
yeild
above
eight
or
ten
years
purchase
at
most
.
In
France
where
Money
is
at
s●ven
per
cent
.
their
Lands
will
yeild
about
eighteen
yeers
purchase
;
And
the
Gentry
who
may
poss●ss
Lands
,
live
in
good
condition
,
though
the
Peasants
are
little
better
then
Slaves
,
because
they
can
possess
nothing
but
at
the
will
of
others
.
In
Italy
Money
will
not
yeild
above
three
per
cent
.
to
be
let
out
upon
real
security
;
there
the
people
are
rich
,
full
of
Trade
,
well
attired
,
and
their
Lands
will
sell
at
thirty
five
to
forty
years
purchase
;
and
that
it
is
so
,
or
better
with
them
in
Holland
,
is
too
manifest
.
In
Spain
their
usual
Interest
is
ten
and
twelve
per
cent
.
and
there
,
notwitstanding
they
have
the
only
Trade
in
the
World
for
Gold
and
Silver
,
Money
is
no
where
more
scarce
,
the
people
poor
,
despicable
,
and
void
of
Commerce
,
other
then
such
as
English
,
Dutch
,
Italians
,
Jews
,
and
other
Forreigners
bring
to
them
;
who
are
to
them
in
effect
,
but
as
Leeches
,
who
suck
their
Blood
and
vital
Spirits
from
them
.
I
might
urge
many
other
instances
of
this
nature
,
nor
only
out
of
Christendom
,
but
from
the
Turks
Dominions
,
East-India
,
and
America
:
but
every
man
by
his
experience
in
Forreign
Countreys
,
may
easily
inform
himself
whether
this
rule
do
vniversally
hold
true
or
not
.
For
my
own
part
,
to
satisfie
my
own
curiosity
,
I
have
for
s●me
years
,
as
occasion
offer'd
,
diligently
enquired
of
all
my
Acquaintance
that
had
knowledge
of
Forreign
Countreys
,
and
I
can
truly
say
,
that
I
never
found
it
to
fail
in
any
particular
instance
.
Exam
.
XXIV
.
If
it
be
admitted
,
which
I
shall
rather
agree
then
travel
to
disprove
,
That
interest
for
Money
in
Scotland
,
Ireland
,
and
Spain
,
is
at
ten
or
twelve
per
cent
.
in
France
at
seven
,
and
in
Italy
at
three
,
as
my
Author
affirms
;
and
that
these
Countreys
are
poor
and
rich
according
to
the
proportions
of
interest
payd
amongst
them
;
yet
he
is
grosly
mistaken
in
the
cause
;
for
it
is
not
because
Money
is
at
ten
or
twelve
per
cent
.
in
Scotland
that
the
Nation
is
poor
,
but
because
the
Nation
is
poor
,
therefore
is
it
there
at
that
rate
.
And
if
they
should
hereafter
fall
into
a
course
of
Trade
and
Industry
whereby
they
shall
accumulate
Wealth
,
plenty
of
Money
will
it self
reduce
the
interest
thereof
without
a
Law
.
But
in
the
interim
,
if
Scotland
were
convinc'd
that
a
Law
to
reduce
Interest
amongst
them
from
ten
or
twelve
to
three
per
cent
.
would
make
them
as
rich
as
Italy
,
I
believe
it
would
not
be
the
last
work
they
would
do
.
To
omit
France
,
(
although
doubtless
the
French
Nation
set
as
great
a
value
on
themselves
,
as
the
proudest
of
their
Neighbours
)
the
contrary
may
be
said
for
Italy
,
that
it
is
not
inricht
by
reason
of
the
lowness
of
Interest
there
;
but
because
it
is
a
rich
Country
,
therefore
is
interest
there
at
a
low
rate
.
So
it
is
not
a
National
Law
that
can
substantiate
the
people
by
falling
of
Interest
,
but
the
Law
of
prosperity
.
As
to
Holland
,
It
is
no
wonder
that
Lands
there
bear
a
good
value
,
if
we
consider
the
Wealth
of
the
people
,
and
parvity
of
their
Territories
;
but
to
attribute
this
to
the
depression
of
Loan
,
is
to
attribute
the
cause
to
the
effect
,
or
fire
to
smoak
.
Paragr
.
XXV
.
Now
if
upon
what
hath
been
said
,
it
be
granted
that
de
facto
this
Kingdom
be
richer
at
least
four-fold
(
I
might
say
,
eight-fold
)
then
it
was
before
any
Law
for
interest
was
made
,
and
that
all
Countreys
are
at
this
day
richer
or
poorer
in
an
exact
proportion
to
what
they
pay
,
and
have
usually
payd
for
the
interest
of
Money
;
it
remains
that
we
enquire
carefully
,
whether
the
abatement
of
Interest
be
in
truth
the
cause
of
the
riches
of
any
Country
,
or
only
the
concomitant
or
effect
of
the
riches
of
a
Country
;
in
which
seems
to
lie
the
intricacy
of
this
Question
.
To
satisfie
my self
wherein
,
I
have
taken
all
opportunities
to
discourse
this
point
with
the
most
ingenious
men
I
had
the
honour
to
be
known
to
,
and
have
searcht
for
,
and
read
all
the
Books
that
I
could
ever
hear
were
printed
against
the
abatement
of
interest
,
and
seriously
considered
all
the
Arguments
and
Objections
used
by
them
against
it
;
all
which
have
tended
to
confirm
me
in
this
Opinion
,
which
I
humbly
offer
to
the
consideration
of
wiser
heads
,
viz.
That
the
abatement
of
Interest
is
the
cause
of
the
Prosperity
and
Riches
of
any
Nation
,
and
that
the
bringing
down
of
Interest
in
this
Kingdom
from
six
to
four
,
or
three
per
cent
.
will
necessarily
in
less
then
twenty
years
time
double
the
Capital
stock
of
the
Nation
.
Exam
.
XXV
.
It
be
granted
,
&c.
Admitting
here
what
my
Author
expects
to
be
granted
,
That
this
Kingdom
is
eight-fold
richer
then
it
was
before
any
Law
for
Interest
was
made
:
yet
that
does
not
answer
the
Question
,
that
it
is
inricht
by
reason
or
cause
of
the
abatement
of
Interest
.
For
notwithstanding
any
thing
my
Author
hath
materially
said
to
the
contrary
,
this
Kingdome
might
have
been
as
prosperous
,
had
no
Law
at
all
concerning
Interest
been
made
.
And
as
to
that
,
That
all
Countreys
are
richer
or
poorer
,
according
to
the
rate
of
Interest
they
pay
for
Money
,
declares
more
the
real
prosperity
or
necessity
of
these
Countreys
,
then
the
Policy
:
for
a
poor
one
can
be
inricht
by
no
Laws
,
but
those
of
Industry
and
Providence
.
Whether
the
abatement
of
Interest
,
&c.
Here
the
Ship
of
my
Authors
Position
,
aura
secunda
carens
,
is
driven
upon
the
rock
of
his
Question
,
where
she
sticks
fast
;
and
because
he
himself
knows
not
how
to
get
her
off
,
he
offers
it
to
the
consideration
of
wiser
heads
;
but
the
waves
of
his
Objections
fall
in
,
and
totally
split
her
.
Paragr
.
XXVI
.
The
most
material
Objections
I
have
met
with
against
it
,
a●●
as
follows
:
Object
.
1.
To
abate
interest
w
l●
cause
the
Dutch
and
other
people
that
have
Money
put
out
at
interest
in
England
,
by
their
Friends
and
Factors
to
call
home
their
Estates
,
and
consequently
will
occasion
a
great
scarcity
and
want
of
Money
amongst
it
.
To
this
I
answer
,
That
if
Interest
be
broug●
,
●●t
to
four
per
cent
.
no
Dutchman
will
call
in
his
M●ney
that
is
out
upon
good
security
in
E●gland
,
●ecause
h●
cann●t
make
above
three
per
c●●●
,
of
it
u●o●
interest
at
ho●e
.
But
if
they
should
call
home
all
th●
Money
they
have
with
us
at
inter●●t
,
it
w●uld
be
better
for
us
,
then
if
they
did
it
not
;
for
the
B●rrower
is
always
a
slave
to
the
Lender
,
and
shall
be
sure
t●
be
always
kept
po●r
,
while
the
other
is
fat
and
full
:
he
that
useth
a
stock
that
is
none
of
his
●wn
,
being
forced
for
the
upholding
his
reputation
to
live
to
the
full
,
if
not
above
the
proportion
of
what
he
doth
so
use
,
while
the
Lender
poss●ssing
much
,
and
using
little
or
none
,
lives
on●y
at
the
charge
of
what
he
useth
,
and
not
of
what
he
hath
.
Besides
,
if
with
this
Law
for
abatement
of
Interest
,
a
Law
for
transferring
Bills
of
Debt
should
pass
,
we
should
not
miss
the
Dutch
Money
,
were
it
ten
times
as
much
as
it
is
amongst
us
;
for
that
such
a
Law
will
certainly
supply
the
defict
of
at
least
one
half
of
all
the
ready
Money
we
have
in
use
in
the
Nation
.
Exam
.
XXVI
.
To
abate
Interest
,
&c.
To
do
my
Author
right
,
This
is
a
material
Objection
,
and
I
am
convinc't
that
the
Dutch
have
considerable
quantities
of
Money
at
Interest
in
England
.
And
I
am
as
well
satisfied
,
that
if
Loan
should
be
abated
from
fix
to
four
per
cent
,
they
will
draw
away
all
their
Money
hence
,
notwithstanding
his
Reasons
to
the
contrary
;
for
they
will
rather
lend
their
Money
at
home
,
at
three
per
cent
.
upon
security
they
know
,
then
abroad
at
four
per
cent
upon
security
they
know
not
,
but
must
take
upon
credit
of
their
Factors
.
And
if
this
Law
amongst
us
should
pass
,
it
might
open
such
a
Vein
in
the
body
Politick
of
Trade
,
that
the
issue
flowing
thence
would
never
admit
stoppage
until
Expiration
.
For
't
is
not
only
the
Dutch
Money
will
be
drawn
away
,
but
(
as
we
may
reasonably
fear
)
the
English
Money
also
.
And
although
we
have
already
twice
stoopt
the
Cask
of
our
Treasure
without
production
of
Dregs
,
yet
let
us
beware
the
third
time
,
lest
it
become
less
grateful
unto
us
.
No
Dutchman
will
call
in
's
Money
,
&c.
Here
,
how
to
reconcile
my
Author
in
's
conclusion
(
viz.
)
that
the
Dutch
Money
(
as
is
admitted
by
his
reasoning
)
may
be
of
advantage
to
us
,
to
continue
it
in
England
;
and
yet
,
it
will
be
better
for
us
,
if
they
draw
it
away
;
that
is
,
we
are
in
a
good
condition
if
we
have
much
Money
,
but
in
a
better
,
if
we
have
little
;
I
am
wholly
at
a
loss
,
&c.
Law
for
Transferring
Bills
,
&c.
The
reasons
and
circumstances
why
and
how
this
Law
would
procure
a
return
of
the
Dutch
Money
once
drawn
away
,
my
Author
would
have
done
well
to
have
given
.
Paragr
.
XXVII
.
Object
.
2.
If
Interest
be
abated
,
Land
must
●…
ise
in
purchrse
,
and
consequently
Rents
;
and
if
Rents
,
then
the
Fruits
of
the
Land
,
and
so
all
things
will
be
dear
:
And
how
shall
the
Poor
live
?
&c.
Answer
,
To
this
I
say
,
If
it
follow
that
the
Fruits
of
our
Land
,
in
consequence
of
such
a
Law
f
r
Abatement
of
Interest
,
grow
generally
dear
,
it
is
an
evident
Demonstration
that
our
people
grow
richer
;
for
generally
,
wherever
Provisions
are
for
continuance
of
years
dear
in
any
Country
,
the
people
are
rich
;
and
where
they
are
most
cheap
throughout
the
World
,
for
the
most
part
the
pe●ple
are
very
poor
.
And
for
our
own
poor
in
Engl●n●
,
it
is
observed
,
that
they
live
better
in
the
dearest
Countries
for
Provisions
,
than
in
the
cheapest
;
and
better
in
a
dear
year
,
than
in
a
cheap
(
especially
in
relation
to
the
Publick
good
)
for
that
in
a
cheap
year
,
they
will
not
work
above
two
dayes
in
a
week
;
their
humour
being
such
,
that
they
will
not
provide
for
a
hard
time
;
but
just
work
so
much
and
no
more
,
as
may
maintain
them
in
that
mean
condition
to
which
they
have
been
accustomed
.
Exam
.
XXVII
.
This
Objection
is
but
a
Question
beg'd
:
For
where
Interest
is
abated
by
a
Law
,
it
does
not
therefore
follow
that
Lands
must
rise
,
and
so
Rents
.
For
't
is
within
memory
,
that
when
Money
was
at
8
per
cent
,
Rents
were
better
paid
then
now
they
are
,
and
Lands
at
a
better
rate
.
And
I
am
of
opinion
,
if
it
were
now
reduc't
to
four
,
that
Tenants
would
give
no
greater
Rent
for
their
Farms
(
if
so
much
)
then
now
they
do
,
nor
Purchases
value
.
Paragr
.
XXVIII
.
O●ject
.
3.
If
Interest
be
abated
,
Usurers
will
call
in
their
Money
,
so
what
shall
Gentlemen
do
,
whose
Estates
are
Mortgaged
?
&c.
Answ
.
In
answer
,
That
when
they
know
they
can
make
no
more
of
their
Money
by
taking
out
of
one
,
and
putting
it
in
another
hand
,
they
will
not
be
so
forward
as
they
threaten
,
to
alt●r
that
security
●…
hey
know
is
good
,
for
another
that
may
be
bad
:
Or
if
they
should
do
it
,
our
Laws
are
not
so
se●…
ere
,
but
that
Gentlemen
may
take
time
to
dispose
●…
f
part
of
their
Land
;
which
immediately
after
●…
uch
a
Law
will
yield
them
thirty
years
purchase
●…
t
least
;
and
much
better
it
is
for
them
so
to
do
,
●…
han
to
abide
longer
under
that
consuming
plague
●…
f
Usury
,
which
hath
insensibly
destroyed
very
many
of
the
best
Families
in
England
,
as
well
of
●…
ur
Nobility
as
Gentry
.
Exam
.
XXVIII
.
There
is
much
more
reason
in
this
Objection
,
then
in
the
Answer
:
For
,
if
Usurers
,
as
my
Author
terms
them
,
(
though
Borrowers
may
more
properly
be
called
so
,
then
Lenders
)
should
call
in
their
Debts
,
(
as
they
did
about
the
year
1651
,
when
Money
was
first
brought
from
eight
per
cent
.
to
six
,
and
kept
it
prisoner
more
then
12
moneths
before
they
would
allow
it
liberty
:
)
let
us
see
what
inconveniencies
would
follow
:
First
,
It
must
lessen
the
stock
of
the
Nation
;
and
by
a
regular
inference
,
when
our
stock
is
small
,
our
gains
cannot
be
great
.
Secondly
,
it
must
incommode
divers
particular
men
,
who
are
aswel
beholding
to
credit
,
as
their
own
Estates
to
manage
Trade
,
by
putting
them
upon
extream
supplies
.
Thirdly
,
It
must
dangerously
injure
,
if
not
ruine
those
young
men
who
totally
build
their
fortunes
upon
the
credit
of
their
Friends
;
and
of
this
sort
(
whom
by
example
,
incouragements
,
make
the
best
Commonwealths-men
)
are
not
a
few
.
Fourthly
,
It
will
put
Lenders
of
Money
,
after
the
practice
of
the
Dutch
,
upon
a
course
of
remitting
it
to
those
Countreys
where
the
increase
thereof
●…
ay
afford
them
a
competent
mainte●…
ance
.
Fifthly
,
It
will
compel
Gentlemen
to
●…
reserve
their
reputation
,
by
preven●…
ing
Seisures
of
their
Mortgag'd
Lands
,
●…
o
make
sale
of
them
at
the
Lenders
●…
ate
.
Sixthly
,
It
will
impalluate
the
com●…
lexion
of
all
affairs
;
for
as
Trade
animates
a
Nation
,
so
Money
animates
Trade
;
which
once
drawn
out
,
or
per●…
erted
from
its
accustomed
Channel
,
●…
hat
Body
must
needs
be
sick
,
if
not
●…
nto
death
.
As
to
my
Authors
Reasons
,
if
we
draw
Conclusions
from
present
experience
,
we
find
that
in
many
Countreys
,
●…
hat
Land
which
when
Money
was
at
●…
ight
per
cent
.
would
have
sold
for
●…
wenty
years
purchase
,
will
not
now
●…
eild
sixteen
;
and
to
charge
this
upon
●…
he
score
of
Loan
,
unless
it
be
,
that
it
is
●…
o
low
,
we
should
injure
it
,
and
our
own
●…
udgments
;
and
a
scarcity
of
Provisi●…
ions
,
&c.
which
may
too
soon
hap●…
en
(
nisi
Fata
praevertunt
)
will
unde●…
eive
us
.
Usury
hath
in
sensibly
destroy'd
,
&c.
That
any
are
undone
by
Usury
,
is
not
the
fault
of
the
Usurer
,
but
of
themselves
:
First
,
by
reason
of
their
profuseness
that
brings
them
into
Debt
.
And
secondly
,
their
slothfulness
that
continues
them
in
it
.
For
he
who
borrows
100
l.
at
six
per
cent
.
per
ann.
in
my
judgment
,
husbands
it
ill
,
if
he
makes
not
twelve
:
and
if
so
,
the
Debt
is
not
a
charge
,
but
a
benefit
unto
him
.
And
for
those
persons
whose
only
care
is
how
to
get
into
Debt
,
without
taking
any
thought
of
getting
out
again
,
if
Money
were
lent
them
gratis
,
it
would
but
the
sooner
undoe
them
.
Paragr
.
XXIX
.
Object
.
4.
As
Interest
is
now
at
six
per
cent
.
the
Kings
Majesty
upon
any
emergency
can
hardly
be
supply'd
;
and
if
it
should
be
reduc'●
to
four
per
cent
.
how
shall
the
King
find
a
considerable
sum
of
Money
to
be
lent
him
by
hi
〈…〉
people
?
Answ
.
I
answer
,
the
abatement
of
Interest
to
the
people
,
is
the
abatement
of
Interest
t
〈…〉
the
King
,
when
he
hath
occasion
to
take
up
Money
▪
For
what
is
borrowed
of
the
City
of
London
,
〈◇〉
other
bodies
Politique
,
nothing
can
be
demande●…
but
the
Legal
Interest
;
and
if
the
King
have
occasi●n
to
take
up
Money
of
private
persons
,
being
his
Majesty
,
according
to
good
right
,
is
above
the
common
course
of
Law
,
the
King
must
,
and
always
hath
given
more
then
the
Legal
rate
.
As
for
instance
:
The
Legal
rate
is
now
six
per
cent
.
but
●…
is
Majesty
,
or
such
as
have
disposed
of
his
Maje●…
ties
Exch●quer-Tallies
,
have
been
said
to
give
ten
●…
r
twelve
in
some
cases
;
and
if
the
Legal
rate
●…
ere
te●
,
his
Majesty
might
probably
give
thirteen
●…
r
fourteen
:
so
,
if
Interest
be
brought
to
four
per
●…
ent
.
his
Majesty
in
such
cases
as
he
now
gives
ten
,
●…
ust
give
six
or
seven
;
by
which
his
Majesty
would
●…
ave
a
clear
advantage
.
Exam
.
XXIX
.
If
there
be
a
scarcity
of
Money
amongst
the
People
(
as
upon
passing
such
〈…〉
Law
,
infallibly
there
will
)
the
Kings
Majestie
;
as
whose
concerns
are
more
●…
minent
then
all
others
,
will
be
the
greatest
sharer
in
the
necessity
.
And
what
reason
is
there
that
the
King
,
whose
occasions
ought
always
to
be
sup●…
lied
at
the
best
hand
being
for
the
pub●…
ck
good
,
should
give
more
then
the
●…
egal
rate
for
Interest
:
And
so
,
to
the
●…
shonor
of
his
credit
,
be
put
into
a
●…
orse
capacity
then
private
persons
?
And
it
is
no
good
Authority
,
that
because
the
King
has
of
late
given
10
or
12
per
cent
.
he
must
do
it
again
;
but
rather
,
that
that
abuse
be
punished
.
And
though
no
blame
therein
can
or
ought
to
be
laid
at
the
door
of
his
Sacred
Majestie
,
according
to
that
ancient
Maxime
of
the
English
Laws
,
Regem
non
posse
facere
injuriam
;
yet
those
that
took
the
same
ought
to
be
dealt
with
according
to
their
demerits
;
not
onely
as
breakers
of
his
Majesties
Statutes
,
but
as
introducing
the
practice
thereof
into
example
.
Such
as
have
disposed
of
his
Majesties
Tallies
,
&c.
This
,
when
it
was
practis'd
,
was
a
crime
that
wanted
a
new
Law
sufficiently
to
punish
the
Agents
thereof
.
For
these
were
they
that
set
all
things
to
his
Majestie
at
so
dear
a
rate
,
to
the
great
consumption
of
his
Treasure
.
And
this
their
confederacy
was
so
concatenated
,
that
they
deceived
his
Majesty
with
a
great
deal
of
ingenuity
.
For
the
Receiver
of
his
Majesties
dues
,
&c.
when
he
had
collected
them
,
instead
of
paying
the
Money
into
the
Exchequer
,
sent
it
to
the
Bankers
to
lie
at
Interest
at
6
per
cent
.
and
so
would
never
be
perswaded
to
comply
with
his
payments
,
until
Process
from
the
Exchequer
came
against
him
.
Thus
his
Majesties
Revenue
failing
,
his
Tallies
could
not
be
paid
;
the
Owners
whereof
being
Tradesmen
,
having
a
necessity
for
their
Money
,
and
no
other
way
to
obtain
it
,
apply
themselves
to
these
Bankers
,
and
there
discompt
them
at
20
or
30
per
cent
.
as
their
Conscience
serv'd
.
Which
these
Tradesmen
foreknowing
,
furnisht
his
Majestie
with
their
Goods
,
&c.
accordingly
.
So
also
when
his
Majestie
himself
had
ocsion
for
Money
,
these
men
commonly
supplied
him
with
his
own
,
though
upon
very
hard
terms
.
Paragr
.
XXX
.
Object
.
5.
If
Interest
be
abated
,
it
will
be
〈…〉
great
prejudice
to
Widows
and
Orphans
,
who
have
not
knowledge
and
abilities
to
improve
their
Estates
otherwise
.
Answ
.
I
an●wer
,
That
by
our
Laws
now
,
Heirs
and
Orphans
●an
recover
no
Interest
from
their
Parents
Exe●utors
,
except
it
be
left
fully
and
absolutely
to
●he
Executors
to
dispose
,
and
put
out
Money
at
the
discretion
of
the
Executors
,
for
the
profit
and
loss
of
the
Heirs
and
Orphans
:
And
if
it
be
so
left
to
the
Executors
discretion
,
they
may
improve
the
Moneys
left
them
in
Trade
,
or
purchase
of
Lands
and
Leases
,
as
well
as
by
Interest
.
Or
when
not
,
the
damage
such
Heirs
and
Orphans
will
sustain
in
their
minority
(
being
but
two
per
cent
.
)
is
considerable
,
in
respect
of
the
great
advantage
will
accrew
to
the
Nation
in
general
,
by
such
abatement
of
Interest
.
Besides
,
when
such
a
Law
is
made
and
in
use
,
all
men
will
so
take
care
in
their
life
,
to
provide
for
,
and
educate
their
Children
,
and
instruct
their
Wives
,
as
that
no
prejudice
can
happen
thereby
;
as
we
see
there
doth
not
in
Holland
and
Italy
,
and
other
Places
,
where
Interest
is
so
low
.
Exam
.
XXX
.
Widows
and
Orphans
will
have
but
a
slender
improvement
of
their
Estates
,
to
give
thirty
years
purchase
for
Lands
;
and
worse
,
if
imploy'd
in
Trade
:
for
they
must
manage
it
by
Factors
or
Servants
;
which
will
give
these
an
opportunity
to
be
Knaves
,
and
themselves
to
be
undone
.
Heirs
and
Orphans
,
&c.
My
Author
here
forgets
the
Adage
,
Ne
sutor
ultra
crepidam
,
or
surely
he
would
not
have
ventur'd
on
the
Law
concerning
them
.
The
conclusion
he
draws
that
all
men
will
instruct
their
Wives
,
and
Children
,
&c.
with
what
he
hath
said
in
the
ninth
Paragraph
,
implies
his
great
desires
that
Women
should
be
Merchants
;
which
with
us
,
admitting
them
capable
,
will
be
as
improper
,
as
men
to
be
Huswives
.
Paragr
.
XXXI
.
Having
now
offered
my
thoughts
in
answer
to
the
aforesaid
Objections
,
it
will
not
be
amiss
,
that
we
enquire
who
will
be
advantaged
,
and
who
will
receive
prejudice
,
in
case
such
a
Law
be
made
.
First
,
His
Majesty
,
as
hath
been
said
in
answer
to
that
Objection
,
will
,
when
he
hath
occasion
,
take
up
Money
on
better
terms
:
Besides
which
,
he
will
receive
a
great
augmentation
to
his
Revenue
thereby
.
All
his
Lands
being
immediately
worth
,
after
the
making
such
a
Law
,
double
to
what
they
were
before
;
his
Customes
will
be
much
encreased
by
the
increase
of
Trade
,
which
must
necessarily
ensue
,
upon
the
making
such
a
Law
.
Exam
.
XXXI
.
Now
comes
his
Use
and
Application
;
and
first
he
begins
with
the
benefit
the
King
shall
receive
,
1.
In
borrowing
Money
.
2.
In
Augmentation
of
Revenue
:
And
therein
,
1.
Of
his
Lands
.
2.
Of
his
Customes
.
The
direct
contrary
of
all
which
is
true
:
For
,
First
,
When
there
is
but
a
little
Money
currant
in
the
Nation
,
the
Kings
extraordinary
supplies
must
fail
.
Secondly
,
The
revenue
of
his
Lands
must
rather
decrease
,
when
his
Tenants
will
want
Money
to
pay
their
Rents
.
Thirdly
,
The
profits
arising
by
his
Customes
following
the
current
of
Trade
,
must
decline
with
it
.
Paragr
.
XXXII
.
The
Nobility
and
Gentry
,
whose
Estates
lie
mostly
in
Land
,
may
presently
upon
all
they
have
,
instead
of
Fifty
,
write
one
Hundred
.
Exam
.
XXXII
.
Or
rather
,
instead
of
one
Hundred
,
write
Fifty
.
Paragr
.
XXXIII
.
The
Merchants
and
Tradesmen
,
who
bear
the
heat
and
burthen
of
the
day
(
most
of
our
Trade
being
carried
on
by
young
men
,
that
take
up
Money
at
Interest
)
will
find
their
Yoke
sit
lighter
upon
their
shoulders
,
and
be
incourag'd
to
go
on
with
greater
Alacrity
in
their
business
.
Exam
.
XXXIII
.
Those
Merchants
,
&c.
that
Trade
with
money
borrowed
upon
Loan
,
will
find
their
credits
strictly
scrutined
.
And
allowing
,
which
I
have
no
reason
to
do
,
that
no
money
be
drawn
out
o'
th'
Nation
;
yet
they
shall
never
borrow
so
much
as
before
,
no
,
hardly
any
,
without
extraordinary
security
,
which
possibly
they
may
not
be
able
to
procure
(
for
those
who
lend
money
at
a
low
rate
,
have
alwayes
a
greater
regard
to
its
safety
.
)
Whereas
on
the
other
side
,
if
money
were
at
7
or
8
per
cent
.
they
could
never
want
what
their
occasions
required
,
and
that
upon
indifferent
Pledges
.
The
Usurer
dealing
herein
somewhat
like
the
Insurer
,
who
will
as
willingly
subscribe
a
Policy
for
8
per
cent
.
on
a
Ship
that
may
be
in
some
danger
,
as
on
one
he
deems
in
more
safety
for
four
.
Or
like
the
Merchant
himself
,
who
will
trust
a
Tradesman
with
an
hundred
pounds
worth
of
goods
,
by
which
he
shall
get
twelve
per
cent
.
when
he
will
not
trust
the
same
man
with
an
hundred
pounds
in
money
,
by
which
he
can
get
but
six
.
Paragr
.
XXXIV
.
Our
Marriners
,
Ship-wrights
,
Porters
,
Clothiers
,
Packers
,
and
all
sorts
of
labouring
people
that
depend
on
Trade
,
will
be
more
constantly
and
fully
imploy'd
.
Exam
.
XXXIV
.
Or
rather
,
have
little
or
no
imployment
at
all
.
Paragr
.
XXXV
.
Our
Farmers
sell
the
Product
of
their
Lands
at
better
Rates
.
Exam
.
XXXV
.
I
verily
believe
,
a
Law
that
will
procure
the
Farmers
good
rates
for
their
Corn
and
Cattle
,
will
not
be
unwelcome
unto
them
:
Plebs
enim
stupidi
venerantur
opes
.
But
this
conclusion
is
a
little
wide
of
the
premises
;
for
the
scope
of
this
Discourse
concerning
Lands
,
is
more
in
value
of
the
Purchase
,
then
of
the
yearly
profits
.
Paragr
.
XXXVI
.
And
whereas
our
Neighbours
the
Netherlanders
(
who
in
regard
of
the
largeness
of
their
stocks
and
experiences
,
the
sons
continually
succeeding
the
Fathers
in
Trade
to
many
Generations
,
we
may
not
unfitly
in
this
case
,
term
sons
of
Anak
,
and
men
of
renown
)
against
whom
,
we
fight
Dwarfs
and
Pigmies
in
stocks
and
experience
,
being
younger
Brothers
of
Gentlemen
,
that
seldome
have
above
one
thousand
pounds
,
sometimes
not
two
hundred
to
begin
the
world
with
.
Instead
,
I
say
,
of
such
young
men
and
small
Stocks
,
if
this
Law
pass
,
we
shall
bring
forth
our
Samsons
and
Goliahs
in
stocks
,
subtilty
,
and
experience
in
Trade
,
to
coap
with
our
potent
Adversaries
on
the
other
side
;
there
being
to
every
mans
kn●wledge
that
understands
the
Exchange
of
London
,
divers
English
Merchants
of
large
Estates
,
which
have
not
much
past
their
middle
age
,
and
yet
have
wholly
left
off
their
Trades
,
having
found
the
sweetness
of
Interest
;
which
if
that
should
abate
,
must
again
set
their
hands
to
the
Plow
(
which
they
are
as
able
to
hold
and
govern
now
as
ever
)
and
also
will
ingage
them
to
train
up
their
sons
in
the
same
way
,
because
it
will
not
be
so
easie
to
make
them
Country-Gentlemen
as
now
it
is
,
when
Lands
sell
at
thirty
or
forty
years
purchase
.
Exam
.
XXXVI
.
Being
younger
sons
of
Gentlemen
,
&c.
My
Author
here
,
by
's
commendation
of
the
succession
of
Merchants
in
Holland
,
whose
Apes
by
all
means
he
will
have
us
,
would
excite
the
elder
sons
of
Gentlemen
to
become
Mercatural
;
for
he
seems
not
well
pleas'd
with
the
younger
,
so
to
beat
their
Swords
into
Pen-knives
,
and
their
Plow-shares
into
Pruning
hooks
.
And
much
reason
indeed
he
has
,
when
he
would
have
the
Women
so
also
.
Bring
forth
our
Samsons
and
Goliahs
in
stock
,
&c.
This
is
a
supernatural
notion
,
and
if
true
,
a
vertue
in
Reduction
never
before
discover'd
.
Paragr
.
XXXVII
.
For
the
Sufferers
by
such
a
Law
,
I
know
none
,
but
idle
Persons
that
lives
at
as
little
expence
as
labour
,
neither
scattering
by
their
expences
,
so
as
the
poor
may
glean
any
thing
after
them
,
nor
working
with
their
hands
or
heads
to
bring
either
Wax
or
Honey
to
the
common
hive
of
the
Kingdom
,
but
swelling
their
own
Pursers
by
the
sweat
of
other
mens
brows
,
and
the
contrivances
of
other
mens
brains
.
And
how
unprofitable
it
is
for
any
Nation
to
suffer
idleness
to
suck
the
breasts
of
industry
,
needs
no
demonstration
.
And
if
it
be
granted
me
,
that
these
will
be
the
effects
of
an
abatement
of
Interest
,
then
I
think
it
is
out
of
doubt
,
that
the
abatement
of
Interest
doth
tend
to
the
enriching
of
a
Nation
,
and
consequently
hath
been
one
great
cause
of
the
Riches
of
the
Dutch
and
Italians
,
and
the
encrease
of
the
Riches
of
our
Kingdom
in
these
last
fifty
years
.
Exam
.
XXXVII
.
This
Law
,
according
to
my
Authors
own
Argument
in
the
27
Paragraph
,
will
rather
beget
Idleness
,
then
prevent
it
:
for
what
Tradesman
that
is
low-rented
to
the
Usurer
,
will
be
so
sedulous
in
his
Calling
,
by
taking
great
pains
to
procure
that
which
he
may
do
with
less
?
But
he
chiefly
condemns
those
who
gain
by
the
contrivances
of
other
mens
brains
;
though
good
reason
there
is
for
't
,
when
they
hazard
their
Estates
in
the
adventure
.
These
will
be
the
effects
of
an
abatement
,
&c.
The
Reasons
hereof
my
Au●hor
fails
to
deliver
:
but
here
(
as
in
other
places
)
leaps
from
his
premises
to
his
conclusion
,
excluding
totally
the
mediis
terminis
,
that
should
couple
the
parts
of
his
Argument
.
For
only
to
say
,
That
to
reduce
Money
to
four
per
cent
.
will
double
the
Merchants
stocks
,
and
raise
Land
to
thirty
or
forty
years
purchase
,
&c.
and
shew
not
how
,
or
by
what
means
,
is
,
as
my
Author
hath
done
,
to
say
nothing
.
One
great
cause
of
the
Riches
,
&c.
If
my
Author
had
said
,
that
Riches
had
been
a
great
cause
of
the
Reduction
of
Money
,
he
had
said
true
.
Paragr
.
XXXVIII
.
Another
Argument
,
to
prove
which
,
we
may
draw
from
the
nature
of
Interest
it self
,
which
is
of
so
prodigious
a
multiplying
nature
,
that
it
must
of
necessity
make
the
Lenders
monstrous
rich
,
(
if
they
live
at
any
moderate
expence
)
and
the
borrowers
extream
poor
.
A
memorable
instance
whereof
we
have
in
Old
Audly
deceased
,
who
did
wisely
observe
,
that
one
hundred
pounds
only
,
put
out
at
interest
at
ten
per
cent
.
doth
in
seventy
years
(
which
is
but
the
age
of
a
man
)
increase
to
above
one
hundred
thousand
pounds
:
and
if
the
advantage
be
so
great
to
the
Lender
,
the
loss
must
be
greater
to
the
Borrower
,
who
(
as
hath
been
said
)
lives
at
a
much
larger
expence
.
And
as
it
is
between
private
persons
,
so
between
Nation
and
Nation
that
have
communication
one
with
another
.
For
whether
the
Subjects
of
one
Nation
lend
Money
to
Subjects
of
another
,
or
Trade
with
them
for
Goods
,
the
effect
is
the
same
.
As
for
Example
:
A
Dutch
Merchant
that
hath
but
four
or
five
thousand
pounds
clear
stock
of
his
own
,
can
easily
borrow
and
have
credit
for
fifteen
thousand
pounds
more
at
three
per
cent
.
at
home
,
with
which
,
whether
he
trade
,
or
put
to
use
in
England
,
or
any
Country
where
Interest
of
Money
is
high
,
he
must
necessarily
,
without
very
evil
accident
attend
him
,
in
a
very
few
years
treble
his
own
Capital
.
This
discovers
the
true
cause
why
the
Sugar-bakers
of
Holland
can
afford
to
give
a
greater
price
for
Barbadoes
Sugars
in
London
,
besides
the
second
Freight
and
charges
upon
them
between
England
and
Holland
,
and
yet
grow
exceeding
rich
upon
their
Trade
.
Wheras
our
Sugar-bakers
in
London
,
that
buy
their
Sugars
here
at
their
own
doors
,
before
such
additional
Freight
and
Charges
come
upon
them
,
can
scarce
live
upon
their
Callings
,
ours
here
paying
for
a
good
share
of
their
stocks
six
per
cent
.
and
few
of
them
imploy
in
their
Sugar-works
above
six
to
ten
thousand
pounds
at
most
:
whereas
in
Holland
they
employ
twenty
,
thirty
,
to
fouty
thousand
pounds
stock
in
a
Sugar-house
,
paying
out
three
per
cent
.
at
most
for
what
they
take
up
at
Interest
,
to
fill
up
their
said
stocks
,
which
is
sometimes
half
,
sometimes
three
quarters
of
their
whole
stocks
.
And
as
it
is
with
this
Trade
,
the
same
rule
holds
throughout
all
other
Trades
whatsoever
.
And
for
us
to
say
,
if
the
Dutch
put
their
Money
to
Interest
among
us
,
we
shall
have
the
advantage
by
being
full
and
flush
of
Coyn
at
home
,
it
is
a
meer
Chymera
,
and
so
far
from
advantage
,
that
it
is
an
extream
loss
,
rendring
us
only
in
the
condition
of
a
young
Gallant
,
that
hath
newly
Mortgaged
his
land
,
and
with
the
Money
thereby
raised
,
stuffs
his
Pockets
,
and
looks
big
for
a
time
,
not
considering
that
the
draught
of
Cordial
he
hath
received
,
though
it
be
at
present
grateful
to
his
palate
,
doth
indeed
prey
upon
his
vital
spirits
,
and
will
in
a
short
time
render
the
whole
body
of
his
Estate
in
a
deep
consumption
,
if
not
wholly
consumed
.
Besides
,
whatever
Money
the
Dutch
lends
us
,
they
alwayes
keep
one
end
of
the
Chain
at
home
in
their
own
hands
;
by
which
they
can
pull
back
when
they
please
their
lean
Kine
,
which
they
s●nd
hither
to
be
fatted
.
Exam
.
XXXVIII
.
If
we
have
the
Dutch
money
,
we
have
their
Tools
to
work
with
;
and
if
we
pay
them
well
for
their
use
,
we
are
as
well
paid
by
their
advantage
:
For
he
who
makes
as
much
more
Interest
of
1000
l.
in
Trade
as
he
pays
,
which
every
man
that
is
prudent
may
,
will
thereby
equal
the
gains
of
the
Lender
;
and
for
the
60
l.
per
ann.
he
parts
with
,
procures
60
l.
more
to
himself
;
which
he
could
never
do
,
were
there
either
no
money
to
be
lent
him
,
or
no
persons
to
give
him
credit
.
Why
the
Sugar-Bakers
of
Holland
,
can
give
a
greater
price
,
&c.
Admitting
this
,
that
my
Author
affirms
,
the
reason
is
evident
in
it self
;
for
he
that
can
imploy
40000
l.
in
stock
,
shall
gain
more
then
he
that
can
imploy
but
ten
,
though
he
buys
his
Commodities
at
a
dearer
rate
.
Besides
,
the
Dutch
may
possibly
have
a
market
for
those
Goods
abroad
,
that
may
retribute
the
charge
,
which
we
in
England
have
not
.
But
by
his
favour
,
I
think
,
it
is
a
mistake
,
that
the
Sugar-Bakers
with
us
,
can
hardly
live
upon
their
Callings
;
for
most
of
them
have
acquired
good
Estates
.
The
same
Rule
holds
,
&c.
This
is
no
farther
true
,
then
that
one
Merchant
thrives
better
on
a
great
Trade
,
then
another
of
the
same
kind
upon
a
less
.
In
the
condition
of
a
young
Gallant
,
&c.
And
whether
is
it
not
less
mischievous
for
a
young
Gallant
to
mortgage
his
Land
,
then
sell
it
out-right
and
spend
the
money
,
and
so
leave
himself
without
advantage
of
being
restated
,
when
the
sence
of
his
past
Vanities
shall
retrive
him
?
Paragr
.
XXXIX
.
This
makes
me
conclude
,
that
Moses
(
that
wise
Legislator
)
in
his
forbidding
the
Jews
to
lend
Money
at
use
,
one
to
another
,
and
permitting
them
to
lend
their
Money
to
strangers
;
ordained
that
Law
as
much
to
a
Political
,
as
a
Religious
intent
,
knowing
that
by
the
latter
,
they
should
inrich
their
own
Nation
,
and
by
the
former
no
publick
good
could
insue
;
the
consequence
being
onely
to
Impoverish
one
Jew
,
to
make
another
rich
.
Exam
.
XXXIX
.
If
Moses
had
intended
we
should
have
known
the
reason
why
the
Jews
,
Deut
.
23.
might
not
lend
upon
Usury
to
their
Brethren
,
but
to
Strangers
;
in
humane
probability
,
he
would
have
given
it
us
.
But
since
he
has
not
so
thought
fit
,
we
have
the
less
warrant
to
enquire
it
.
But
I
conceive
,
without
injury
to
the
Text
,
this
may
from
thence
be
concluded
,
viz.
that
Usury
is
lawful
,
otherwise
it
had
not
been
permitted
and
good
,
otherwise
God
had
not
allowed
it
:
And
if
so
,
the
more
it
is
practis'd
,
the
more
beneficial
it
is
,
according
to
that
ancient
Axiome
of
Philosophy
,
Omne
bonum
quo
communius
eo
melius
.
But
my
Author
in
several
parts
of
his
Discourse
seems
more
offended
with
the
person
of
the
Usurer
,
then
the
thing
of
Usury
;
though
the
difference
be●…
wixt
a
Gentleman
and
him
is
only
in
●…
ppellation
,
the
one
receiving
the
profits
of
his
Land
,
the
other
(
as
justly
)
of
his
Money
.
And
how
profitable
a
Member
he
is
of
the
Commonwealth
,
the
advantages
flowing
from
him
,
by
the
credit
he
dispenses
,
sufficiently
demon●…
trate
.
For
as
credit
is
the
sinew
of
conversation
,
and
nourisher
of
correspondency
,
the
great
manager
of
affairs
:
So
●…
s
the
Usurer
the
causa
emanativa
of
●…
his
Credit
,
Argenteum
sudorem
ema●…
ans
;
which
this
Law
of
four
per
cent
.
must
needs
destroy
.
As
for
example
:
Admit
an
Usurer
has
1000
l.
which
he
designs
to
be
disposed
at
Interest
for
the
benefit
of
younger
Children
,
or
his
own
●…
ubsistence
;
this
he
lends
at
six
per
cent
.
●…
o
ten
young
men
to
imploy
in
Trade
;
imitating
therein
the
noble
Usurer
in
the
19
of
St.
Luke
,
in
the
distribution
of
his
Talents
,
(
without
which
credit
,
these
men
having
small
or
no
fortunes
of
their
own
,
must
sit
still
,
or
turn
Journymen
or
Factors
,
and
so
spend
their
Juvenilia
in
the
service
of
others
,
to
their
great
discouragement
)
And
this
money
they
so
well
manage
,
that
in
few
fears
they
are
able
both
to
discharge
their
Ingagements
,
and
continue
Trade
upon
their
own
Estates
:
This
inriches
them
,
and
restocks
the
lender
to
supply
the
like
occasions
.
Whereas
if
this
projected
Law
pass
,
it
will
put
the
Lender
upon
calling
in
this
1000
l.
(
and
hoarding
it
up
for
a
better
opportunity
,
or
else
imploying
it
some
other
way
of
as
little
benefit
to
the
Nation
)
to
the
detriment
,
if
not
destruction
,
not
onely
of
the
present
Debtors
,
but
the
like
beginners
.
And
I
dare
affirm
that
many
private
Treasuries
made
upon
the
first
reduction
of
mony
from
8
per
cent
.
to
6
,
have
not
since
been
opened
.
But
again
,
on
the
contrary
,
if
instead
of
reducing
the
loan
of
money
,
it
were
raised
to
7
or
8
per
cent
.
the
Utility
thereof
to
the
publick
would
far
transcend
the
disadvantages
(
if
any
)
to
private
persons
.
For
,
First
,
It
would
replenish
the
Nation
with
Coyn
,
not
onely
the
Cities
and
Towns
,
but
the
Countries
,
which
(
of
late
)
have
lost
their
acquaintance
therewith
;
every
man
then
supplying
the
offices
of
his
place
with
meaner
metals
.
Secondly
,
It
would
multiply
the
number
of
publick
Traders
,
who
when
they
have
stockt
the
Markets
of
the
known
World
,
will
be
sollicitous
in
the
discovery
of
the
unknown
;
and
by
this
means
,
we
shall
beat
the
Dutch
with
their
own
weapons
.
Thirdly
,
It
will
give
every
man
credit
in
his
private
Affairs
;
and
those
that
suffer
by
it
,
the
blame
will
be
their
own
:
for
as
an
Imprudent
man
will
never
gain
by
mony
at
4
per
cent
.
so
a
Prudent
one
will
not
lose
by
it
at
eight
,
in
case
his
fortune
in
this
plenty
should
not
procure
it
him
at
a
cheaper
rate
.
Paragr
.
XL
.
This
likewise
takes
off
the
wonder
how
the
people
of
Israel
out
of
so
small
a
Territory
as
they
possessed
,
could
upon
all
occasions
set
forth
such
vast
and
numerous
Armies
(
almost
incredible
)
as
all
Histories
,
Sacred
and
Prophane
,
report
they
did
;
which
is
neither
impossible
nor
strange
to
any
that
have
well
c●nsidered
the
effects
of
their
Laws
concerning
Usury
,
which
were
sufficient
to
make
any
barren
Land
fruitful
,
and
a
fruitful
Land
an
intire
Garden
;
which
by
consequence
would
maintain
ten
times
the
number
of
Inhabitants
that
the
same
Tract
of
Land
would
do
,
where
no
such
Laws
were
.
Exam
.
XL
.
The
Land
of
Canaan
,
Maturiis
rigata
pluviis
,
watered
with
the
showrs
of
Gods
blessing
,
abounded
with
a
numerous
people
,
and
brought
forth
sustenance
sufficient
to
support
them
;
but
that
a
low
rate
of
Usury
should
be
cause
of
the
Generation
of
the
one
,
or
Fertility
of
the
other
,
is
argumentum
remotum
,
and
exceeds
my
comprehension
.
England
is
a
Field
,
Qui
plenam
profert
largo
cum
foenore
messem
;
but
should
this
be
ascrib'd
to
the
Laws
concerning
Loan
,
it
were
facere
Sacra
inferis
,
to
rob
God
of
his
Glory
.
Paragr
.
XLI
.
To
conclude
,
It
is
(
I
think
)
agreed
●n
by
all
,
that
Merchants
,
Artificers
,
Farmers
of
lands
,
and
such
as
depend
on
them
(
which
for
brevity-sake
,
we
may
here
include
under
one
of
these
general
terms
)
viz.
Seamen
,
Fishermen
,
Breeders
of
Cattle
,
Gardners
,
&c.
are
the
three
sorts
of
people
,
which
by
their
study
and
labour
,
do
principally
,
if
not
onely
bring
in
wealth
to
a
Nation
from
abroad
;
other
kinds
of
People
,
viz.
Nobility
,
Gentry
,
Lawyers
,
Physitians
,
Scholars
of
all
sorts
,
and
Shop-keepers
,
do
onely
hand
it
from
one
to
another
at
home
.
And
if
Abatement
of
Interest
(
besides
the
general
benefit
it
brings
to
all
,
except
the
griping
dronish
Usurer
)
will
add
new
life
and
motion
to
those
most
profitable
Engins
of
the
Kingdom
,
as
(
I
humbly
suppose
)
will
be
manifest
upon
serious
consideration
of
what
hath
been
said
;
then
I
think
it
will
be
out
of
doubt
,
that
Abatement
of
Interest
is
the
cause
of
Increase
of
the
Trade
and
Riches
of
any
Kingdom
.
Exam
.
XLI
.
't
is
a
Paradox
to
me
,
that
a
great
Trade
should
be
driven
with
the
small
incouragement
of
a
little
Stock
:
for
if
the
Rate
of
Loan
be
low
,
it
certainly
follows
that
the
less
Money
will
be
that
way
dispos'd
,
as
it
is
among
Merchants
who
deal
by
Exchange
;
which
must
cause
the
Industrious
low-fortun'd
young
man
,
necessitatis
ineluctabile
telum
recipere
,
and
cut
the
Cables
of
his
aspiring
hopes
.
Griping
dronish
Usurers
,
&c.
As
the
Heart
in
the
body
Natural
issues
forth
that
blood
with
which
it
is
replenisht
,
through
the
Veins
of
the
Flesh
,
to
the
benefit
and
prosperity
thereof
;
so
doth
the
Usurer
in
the
body
Politick
,
his
Money
through
the
channels
of
Commerce
.
And
if
Nature
prompts
us
to
take
the
greatest
care
of
the
one
,
Interest
directs
us
how
to
value
the
other
,
i●
not
in
respect
to
him
,
yet
in
regard
to
our selves
.
For
if
we
considerately
weigh
the
effects
of
a
Law
of
4
per
cent
we
may
find
that
loss
intended
th●
Usurer
,
to
fall
upon
us
.
For
why
is
it
not
with
Money
,
as
with
Land
?
if
that
Farm
which
now
yields
300
l.
per
annum
,
should
be
by
a
Law
reduc'd
to
two
,
will
not
the
Owner
rather
then
let
it
,
manure
it
himself
?
So
if
the
Usurer
should
do
with
his
Money
,
he
would
in
gross
all
the
advantages
thereof
to
himself
,
whereas
now
he
communicates
the
profits
of
his
Estate
with
others
.
Exam
.
XLII
.
The
foregoing
Discourse
,
I
wrote
in
the
Sickness-Summer
at
my
Country-Habitation
,
not
then
intending
to
publish
it
,
but
onely
to
communicate
ii
to
s●me
Honourable
and
Ingenious
Friends
of
the
present
Parliament
,
who
were
pleased
to
take
Copies
of
it
for
their
more
deliberate
consideration
and
digestion
of
the
Principles
therein
asserted
,
which
at
first
were
strange
to
them
,
as
I
expect
they
will
be
to
most
others
,
till
they
have
spent
some
time
in
thinking
of
them
;
after
which
,
I
doubt
not
but
all
men
will
be
convinced
of
the
truth
of
them
,
that
have
not
some
private
interest
of
their
own
against
them
,
external
to
the
general
good
of
the
Kingdom
.
For
sure
I
am
,
they
have
a
Foundation
in
Nature
,
and
that
according
to
the
excellent
Sir
William
Petty's
Observation
in
his
late
Discourse
concerning
Taxes
,
res
nolunt
male
administrare
:
Nature
must
and
will
have
its
course
:
the
matter
in
England
is
prepared
for
an
abatement
of
Interest
,
and
it
cannot
long
be
obstructed
.
And
after
the
next
abatement
,
who
ever
lives
forty
years
longer
,
shall
see
a
second
abatement
;
for
we
shall
never
stand
on
even
ground
in
Trade
with
the
Dutch
,
till
Interest
be
the
same
with
us
as
it
is
with
them
.
Exam
.
XLII
.
A
foundation
in
Nature
,
&c.
Although
I
may
grant
my
Authors
Positions
to
have
a
Natural
foundation
,
yet
I
must
deny
they
have
a
Political
:
and
how
well
the
matter
in
England
is
prepared
for
an
abatement
of
Interest
,
when
the
Lady
Pecunia
,
the
sine
qua
non
of
all
our
terreneal
Concernments
,
lies
under
the
extreamity
of
a
fatal
Consumption
,
and
without
the
restorative
of
a
Law
è
morte
in
vitam
revocare
,
to
raise
her
fainting
spirits
,
must
needs
expire
.
For
what
Gentleman
now
wanting
the
usual
revenue
of
his
Rents
,
can
without
much
difficulty
be
trusted
with
100
l.
for
his
Houshold-expences
?
Or
what
Citizen
can
borrow
the
like
sum
to
support
his
drooping
Trade
?
If
these
be
the
dire
effects
of
six
per
cent
.
what
will
be
those
of
four
?
On
even
ground
in
Trade
,
&c.
If
our
mony
in
value
exceeded
that
of
our
Land
,
as
(
in
a
very
great
measure
)
it
doth
in
Holland
;
there
is
no
doubt
but
the
rate
thereof
would
be
as
low
with
us
as
it
is
with
them
,
and
so
will
be
,
when
we
shall
be
as
fortunate
.
But
in
the
mean
time
,
if
we
shall
be
so
rash
to
preposterate
our
advantages
,
by
forcing
that
nayl
which
will
not
go
without
danger
of
a
wrent
,
we
may
Tinker-like
,
instead
of
repairing
the
defect
,
make
it
greater
.
And
we
have
less
hopes
to
be
on
even
terms
with
the
Dutch
,
when
those
Instruments
by
which
we
should
climb
,
are
cut
shorter
.
All
men
will
be
convinc'd
,
&c.
I
cannot
be
of
that
number
,
until
I
am
satisfied
that
Reduction
is
the
mother
of
Multiplication
.
Paragr
.
XLIII
.
His
Majesty
was
gratiously
pleas'd
at
the
opening
of
the
last
Session
of
this
Parliament
,
to
propose
to
the
consideration
of
both
Houses
,
the
ballancing
of
the
Trade
of
the
Nation
;
to
effect
which
,
in
my
opinion
,
the
abatement
of
Interest
is
the
first
and
principal
Engine
which
ought
to
be
set
on
work
;
which
notwithstanding
,
I
should
not
have
presumed
to
expose
it
to
publike
censure
on
my
own
single
Opinion
,
if
I
had
not
the
concurrence
of
much
better
Judgments
then
my
own
;
having
never
seen
any
thing
in
print
for
it
(
though
much
against
it
)
until
the
latter
end
of
January
last
,
at
which
time
,
a
Friend
whom
I
had
often
discoursed
with
upon
this
Subject
,
met
with
by
accident
a
small
Tract
to
the
same
purpose
,
wrote
neer
fifty
years
ago
,
which
he
gave
me
;
and
I
have
for
publike
good
,
thought
fit
to
annex
it
hereunto
,
verbatim
.
The
Author
of
the
said
Tract
,
by
the
stile
thereof
seems
to
have
been
a
Country-Gentleman
,
and
my
Education
hath
mostly
been
that
of
a
Merchant
;
so
I
hope
that
going
together
,
they
may
in
some
measure
supply
the
defects
of
each
other
.
Another
Reason
that
induced
me
to
the
printing
of
them
together
is
,
because
what
he
wrote
then
would
be
the
consequence
of
the
abatement
of
Interest
from
ten
to
six
per
cent
.
I
have
,
I
think
,
proved
to
the
conviction
of
all
men
not
wilfully
blinde
,
have
been
the
real
effects
thereof
,
and
that
to
a
greater
proportion
th●n
he
did
promise
:
every
Paragraph
whereof
was
writ
by
me
,
and
Copies
thereof
delivered
to
several
worthy
Members
of
this
Parliament
,
many
moneths
before
ever
I
saw
or
heard
of
this
or
any
thing
else
,
writ
or
printed
to
the
like
purpose
.
Exam
.
XLIII
.
My
Author
makes
reduction
of
Interest
like
the
Philosophers
Stone
,
cui
solidam
fata
tulerunt
salutem
,
the
Soveraign
cure
of
the
Commonwealths
necessities
.
And
as
it
hath
been
the
cause
of
the
increase
of
the
Trade
,
Riches
and
Shipping
of
the
Dutch
,
so
by
consequence
must
it
be
of
ours
.
And
from
thence
he
descends
to
no
less
then
XIX
particulars
,
according
to
my
Collection
,
viz.
1.
The
cause
of
increase
of
Womens
Portions
.
2.
Of
the
Riches
of
our
Gentry
in
their
Apparel
and
Housholdstuff
.
3.
Of
our
multitude
of
Coaches
.
4.
The
cause
of
our
ease
in
payment
of
great
Taxes
.
5.
Of
improving
our
Customs
.
6.
Of
increasing
our
Wharfs
and
Keys
in
London
.
7.
Of
advancing
the
Rent
of
Farms
.
8.
Of
advancing
the
prises
of
the
Fruits
of
our
Land
.
9.
Of
raising
Lands
in
the
Country
to
thirty
or
forty
years
purchase
.
10.
Of
advantage
to
the
King
by
lessning
the
Interest
he
now
pays
.
11.
Of
care
in
providing
for
,
and
education
of
Children
.
12.
Of
doubling
the
value
of
the
Lands
of
the
King
,
and
of
the
Nobility
and
Gentry
.
13.
Of
the
lightning
of
the
yoak
of
Merchants
in
Trade
.
14.
Of
a
full
imployment
of
those
of
Mechanical
Professions
.
15.
Of
our
producing
Samson
and
Goliah
Stocks
.
16.
Of
the
benefit
of
Sugar-bakers
.
17
Of
the
raising
great
Armies
.
18.
Of
the
fertility
of
Land
.
19.
Of
ballancing
Trade
.
And
so
much
do
some
of
these
relate
either
to
the
rise
or
abatement
of
Interest-Money
,
as
doth
the
flux
and
reflux
of
the
Sea
at
London-Bridge
.
If
I
had
not
the
concurrence
,
&c.
The
concurrence
of
better
Judgments
with
that
of
my
Authors
,
I
must
confess
is
an
Argument
of
more
weight
with
me
;
although
until
I
am
satisfied
they
are
no
borrowers
,
I
shall
suspect
their
partiality
or
ignorance
.
I
am
unwilling
to
meddle
with
that
Country-Gentleman
,
who
fifty
years
ago
wrote
the
Tract
against
Usury
,
cui
sua
tranquillum
terra
cubile
dedit
,
farther
then
to
draw
this
Observation
,
scil
.
That
no
man
since
,
until
now
(
as
I
can
be
inform'd
)
hath
been
of
his
Opinion
.
Before
ever
I
saw
or
heard
of
this
or
any
thing
else
,
&c.
Here
my
Author
is
willing
to
let
you
know
,
That
,
besides
the
dictates
of
his
good
Genius
,
he
had
no
Co-partner
in
the
discovery
.
Paragr
.
XLIV
.
What
I
have
aimed
at
in
the
whole
,
is
the
good
of
my
native
Country
,
otherwise
I
had
not
busied
my self
about
it
;
for
I
want
not
imployment
sufficient
of
my
own
,
nor
have
reason
to
be
out
of
love
with
that
I
have
.
The
several
particulars
in
the
beginning
of
this
Treatise
,
relating
to
Trade
,
I
have
only
hinted
in
general
terms
;
hoping
that
some
abler
pen
will
hereafter
be
incited
,
for
the
service
of
his
King
and
Country
,
to
inlarge
more
particularly
upon
them
.
Exam
.
XLIV
.
My
native
Country
,
&c.
In
qua
nos
primum
genitales
hausimus
auras
.
It
was
a
good
end
,
if
the
work
had
answered
it
.
And
that
which
I
have
done
(
I
do
declare
)
is
neither
out
of
kindness
to
the
Lender
,
nor
unkindness
to
the
borrower
,
sed
ut
res
magis
valeat
quam
pereat
.
Some
abler
Pen
,
&c.
Erasmus
Rotterdamus
,
who
wrote
of
the
shadow
of
Flies
,
might
have
taken
pains
therein
had
he
been
living
.
At
cecinit
extremum
voce
gemente
vale
.
Paragr
.
XLV
.
Before
I
conclude
,
though
I
have
studied
brevity
in
the
whole
,
I
cannot
omit
the
inserting
of
one
Objection
more
,
which
I
have
lately
met
with
,
to
the
main
designe
of
this
Treatise
,
viz.
Object
.
It
is
said
,
that
the
lowness
of
Interest
of
Money
in
Holland
is
not
the
effect
of
Laws
,
but
proceeds
onely
from
their
abundance
thereof
,
for
that
in
Holland
there
is
no
Law
limitting
the
Rate
of
Usury
.
Answer
,
1.
I
answer
,
that
it
may
be
true
,
that
in
Holland
there
hath
not
lately
been
any
Law
to
limit
Usury
to
the
present
Rate
it
is
now
at
,
i.e.
three
or
four
per
cent
.
although
most
certain
it
is
,
that
many
years
since
,
there
was
a
Law
that
did
limit
it
to
five
or
six
at
most
.
And
by
consequence
,
there
would
be
a
renewing
of
that
law
to
a
lesser
Rate
,
were
it
necessary
at
this
time
;
It
having
alwayes
been
the
policy
of
that
People
to
keep
down
the
Interest
of
their
Money
,
three
or
four
per
cent
.
under
the
Rate
of
what
it
is
usually
paid
in
their
neighbouring
Countries
,
which
(
being
now
naturally
done
)
it
is
needless
to
use
the
artificial
Stratagem
of
a
law
to
establish
.
Answ
.
2.
Although
they
have
no
law
expresly
limitting
Interest
at
present
,
yet
they
have
other
laws
which
we
cannot
yet
arrive
to
,
which
do
effect
the
same
thing
among
them
,
and
would
do
the
like
among
us
,
if
we
could
have
them
,
and
whereof
is
their
ascer●…
aining
real
securities
by
their
publick
Registers
:
For
we
see
evidently
,
Money
is
not
so
much
wanting
in
England
as
Securities
which
men
accompt
infallible
;
a
remarkable
Instance
whereof
is
,
the
East-India
Company
,
who
can
and
do
take
up
what
Mony
they
please
for
four
per
cent
.
at
any
time
.
Another
Law
is
,
their
constitution
of
Banks
and
Lumbards
,
whereby
private
persons
that
have
but
tolerable
credit
,
may
be
supplied
at
easie
rates
from
the
State
.
A
third
and
very
considerable
one
,
is
,
their
law
for
transferring
of
Bills
of
Debt
,
mentioned
in
the
beginning
of
this
Discourse
.
A
fourth
,
which
is
a
custome
,
and
in
effect
,
may
be
here
to
our
purpose
accounted
as
a
Law
,
is
the
extraordinary
frugality
used
in
all
their
publike
affairs
,
which
in
their
greatest
extremities
have
been
such
,
as
not
to
compel
them
to
give
above
four
per
cent
.
for
the
loan
of
Money
.
Whereas
it
is
said
,
his
Majesty
in
some
cases
of
Exigency
,
when
the
National
supplies
have
not
come
in
to
answer
the
present
emergencies
of
affairs
,
hath
been
inforced
to
give
above
the
usual
rates
to
Goldsmiths
:
and
that
incouraged
them
to
take
up
great
sums
from
private
persons
at
the
full
rate
of
six
per
cent
.
whereas
formerly
they
usually
gave
but
four
per
cent
.
otherwise
in
humane
probability
,
Money
would
have
fallen
of
it self
to
four
per
cent
.
But
again
,
to
conclude
,
every
Nation
does
proceed
according
to
peculiar
Methods
of
their
own
in
the
transaction
of
their
publike
affairs
and
Law-making
.
And
in
this
Kingdom
it
hath
always
been
the
Custome
to
reduce
the
rate
of
Interest
by
a
Law
,
when
Nature
had
prepared
the
matter
fit
for
such
an
alteration
,
as
now
,
I
say
,
it
hath
.
By
a
Law
it
was
reduced
from
an
unlimited
rate
to
ten
;
and
afterwards
from
ten
to
eight
;
after
that
from
eight
to
six
.
And
through
the
blessing
of
the
Almighty
God
,
this
Kingdom
hath
found
,
as
I
think
I
have
fully
proved
,
and
every
mans
experience
will
witness
,
prodigious
success
and
advantage
thereby
:
And
I
doubt
not
,
through
the
like
blessing
of
God
Almighty
,
but
this
Generation
will
find
the
like
great
and
good
effects
,
by
the
reduction
of
it
from
six
to
four
,
which
is
now
at
the
birth
:
And
that
the
next
Generation
will
yet
see
far
greater
advantage
by
bringing
it
from
four
to
three
per
cent
.
Exam
.
XLV
.
Here
my
Authors
modesty
appears
sufficiently
,
that
he
will
not
permit
his
Answers
to
come
too
near
the
substance
of
the
Question
.
Yet
is
sollicitous
to
perswade
you
,
That
if
Loan
were
not
already
at
3
or
4
per
cent
.
in
Holland
by
the
favour
of
the
peoples
fortunes
,
he
is
assured
it
would
be
made
so
by
Law
;
and
gives
you
for
reason
,
because
it
hath
been
once
reduc'd
,
by
consequence
it
must
be
so
again
,
until
at
last
it
be
reduc'd
to
nothing
;
so
the
latter
end
of
the
World
,
especially
for
our
Tradesmen
,
will
be
the
golden
Age
,
better
then
the
beginning
.
It
being
the
Policy
of
that
people
to
keep
down
,
&c.
That
Policy
is
no●…
hing
else
but
their
wealth
;
for
if
they
wanted
Money
as
much
as
we
in
England
,
they
would
give
ten
per
cent
.
rather
then
be
without
it
.
And
't
is
a
great
mistake
that
Money
is
here
more
plentiful
then
Securities
;
for
we
have
five
Securities
for
one
sum
,
as
in
Holland
they
have
five
sums
for
one
Security
(
and
as
we
had
in
England
,
when
the
Rate
was
higher
)
And
indeed
,
if
the
matter
were
with
us
so
prepared
for
an
Abatement
,
as
it
is
with
them
,
we
should
need
no
Law
to
effect
it
.
As
to
that
instance
of
the
Goldsmiths
,
I
never
yet
understood
that
they
were
usually
trusted
with
Money
at
four
per
cent
.
but
sometimes
perhaps
at
five
,
in
these
cases
,
scil
.
when
the
Money
lent
them
,
was
designed
for
Trade
,
or
until
the
Lender
fitted
himself
with
other
security
:
For
the
wisest
of
their
Creditors
made
use
of
them
only
as
a
stool
of
Office
,
for
their
present
occasions
,
until
of
late
,
either
their
necessities
,
or
expectances
of
profit
,
have
caus'd
them
to
give
six
;
which
indeed
hath
procured
them
a
more
general
Credit
:
but
this
is
rather
an
Argument
of
the
scarcity
of
Money
,
then
of
the
plenty
;
and
so
I
believe
most
Gentlemen
of
England
have
experienc'd
it
.
As
to
that
of
the
East-India-Company
,
admitting
it
true
,
that
is
no
material
Instance
of
the
plenty
of
money
throughout
England
:
First
,
Because
few
other
Societies
have
that
Credit
:
And
secondly
,
Because
it
is
onely
in
London
.
And
I
cannot
think
it
any
good
Argument
of
a
general
plenty
,
if
every
Citizen
of
London
that
wants
Money
might
borrow
it
at
four
per
cent
.
when
none
other
of
the
Nation
can
hardly
have
it
under
eight
.
Publick
Registers
,
Banks
,
Transposition
of
Debts
,
and
Frugality
,
have
been
already
considered
as
far
as
at
this
time
I
have
thought
necessary
:
And
though
I
have
hitherto
followed
my
Author
in
some
Repetitions
,
I
am
now
willing
to
leave
trifling
,
Et
dare
vela
retrorsum
.
Onely
give
me
leave
in
taking
it
,
to
deliver
my
opinion
,
That
if
instead
of
a
Law
to
reduce
mony
,
the
Current
whereof
already
runs
too
low
,
a
Law
were
made
to
advance
it
;
or
otherwise
,
that
the
Money
we
now
have
may
be
the
better
preserved
and
imployed
,
it
were
Enacted
,
if
the
Wisdom
of
his
Majesty
and
Parliament
so
thought
fit
,
That
every
man
below
the
degree
of
a
Peer
of
this
Realm
,
who
shall
become
Indebted
by
Money
borrowed
at
Interest
above
Ten
Thousand
Pounds
,
shall
be
a
Bankrupt
.
I.
This
would
make
many
extravagant
persons
sensible
of
their
danger
,
and
so
retrench
their
exorbitancies
.
II
.
It
would
preserve
some
maintainance
for
persons
of
fortunes
insensible
of
their
excesses
,
by
putting
their
Estates
into
the
hands
of
better
Guardians
.
III
.
It
would
secure
unto
Creditors
their
Estates
:
for
many
now
whose
debts
through
imprudence
exceed
that
sum
,
convey
their
Lands
to
their
Children
or
Friends
,
and
leave
onely
(
though
not
always
)
their
bodies
to
make
satisfaction
.
IV
.
It
would
be
a
means
that
the
Cash
of
the
Nation
be
distributed
into
divers
hands
,
whereas
now
the
proportion
is
so
unequal
,
that
some
persons
have
too
much
credit
;
and
others
,
though
very
meriting
and
ingenious
,
too
little
.
V.
It
would
make
the
passage
of
the
Kings
Revenues
and
Aids
into
his
Exchequer
more
polite
and
facile
then
now
it
is
,
in
cutting
off
those
private
Channels
,
by
which
the
vigor
of
that
Stream
hath
(
to
his
Majesties
exceeding
detriment
)
been
too
long
diverted
.
Et
salus
Populi
suprema
lex
esto
.
FINIS
.