And for the Encouragement of such as shall be Benefactors to so good a Design, Be it Enacted by the Authority aforesaid, That if any Man charitably disposed, shall give One hundred Pounds, or more, towards carrying on the said Work, It shall and may be Lawful for the said Corporation, at a Court where there shall be present Three and thirty of the said Guardians at the least, to elect and constitute such Charitable Person to be Guardian of the Poor of the said City, and to continue in the said Office, as long as to the said Corporation shall seem meet.
And be it further Enacted by the Authority aforesaid, That the said Corporation shall have the Care of, and provide for the Maintenance of all the Poor of the said City, of what Age or Kind soever they be, except such as shall be otherwise sufficiently Provided for by the charitable Gifts of other Persons, or in Hospitals or Almshouses within the said City already Erected: And in order thereunto shall have full Power to Examine, Search and See what Poor Persons there are come into, Inhabiting and Residing within the said City or any Part thereof; And shall have Power to Apprehend or cause to be Apprehended any Rogues, Vagrants, or Sturdy-Beggars, or Idle or Disorderly Persons within the said City and the County thereof, and to cause them to be kept and set to Work in the said Work-houses, Hospitals or Houses of Correction, for the Space of Three Years.
Provided always, and be it Enacted by the Authority aforesaid, That this Act, or any thing herein contained, shall not any ways extend to give the said Corporation any Power or Authority over any Almshouse, or Hospital, or any other Charitable Gift or Use, within the said City, already Given, Settled or Erected, but that the same shall be wholly exempted therefrom; Any thing herein to the Contrary notwithstanding.
And be it further enacted by the Authority aforesaid, That the said Corporation in their said Court or Assembly, shall have hereby Power to choose and entertain all such other Officers as shall be needful to be employed in and about the Premisses, and them or any of them, from time to time to remove as they shall see Cause; and upon the Death or Removal of them, or any of them, to choose others in their Place, and to make and give such reasonable Allowances to them, or any of them, out of the Stock or Revenue belonging to the said Corporation or Hospitals, as they shall think fit.
Provided always, and be it further Enacted by the Authority aforesaid, That no Officer or Officers, who shall be Elected, chosen, Appointed or Employ’d, in the Execution of, or by Virtue of this Act, or any of the Powers or Authorities thereby given, shall be liable for or by reason of such Office or Execution, to any of the Penalties mentioned in an Act made the Five and Twentieth Year of the Reign of KingCharlesthe Second, for the Preventing the Dangers which may happen from Popish Recusants.
And it is further Enacted by the Authority aforesaid, That the said Treasurer for the Time being, and all other Officers belonging to the said Corporation, Hospitals, Work-houses, or Houses of Correction, shall, from time to time, before such Person or Persons as the said Corporation shall thereto appoint, account for such Moneys, Stock, and other Things belonging to the said Corporation, Hospitals, Work-houses, or Houses of Correction, as shall come to their respective Hands, or be under their respective Care, upon every reasonable Warning and Notice thereof, by the said Corporation to them respectively given; And on their Neglect or Refusal to Account, as aforesaid, shall or may be, by the said Mayor, or any Two of the said Aldermen, committed to the County Goal for the said City and County ofBristoll, there to remain without Bail or Mainprize, until they shall become conformable, and Account, as aforesaid; And if upon such Account there shall appear any Thing to be in their Hands belonging to the said Corporation, Hospitals, Work-houses, or Houses of Correction, they shall Pay and Deliver the same, as the said Corporation shall direct, or give such Security for the same, as the said Corporation shall approve of, on pain to forfeit Double the Value thereof, to be Recovered by the said Corporation, by Action of Debt, Bill, Plaint or Information in which no Protection, Essoign, or Wager in Law, or any more than One Imparlance, shall be admitted or allowed.
And it is further Enacted, That all other Pains, Penalties and Forfeitures by this Act appointed, shall be Levied by Distress and Sale of the Offenders Goods, by Warrant under the Hand and Seal of the said Treasurer for the time being, Restoring to the Offender the Overplus.
And be it further Enacted by the Authority aforesaid, That if any Person or Persons shall be Sued for any Matter or Thing which he shall do in Execution of this Act, he may plead the General Issue, and give the special Matter in Evidence: And if the Verdict shall pass for the Defendant, or the Plaintiff shall be nonsuited, or discontinue his Suit, the Defendant shall Recover his Treble Costs. And this Act shall be Taken and be Allowed in all Courts within this Kingdom as a Publick Act; And all Judges and Justices are hereby Requir’d, as such, to take Notice thereof, without specially Pleading the same; And all Mayors, Justices, Sheriffs, Bayliffs, Constables, and all other Officers and Ministers of Justice, are hereby Required to be Aiding and Assisting to the said Corporation, and to such Officers as shall be employed by them, or any of them, in Execution of this Act, or any of the Powers or Authorities hereby given.
AN
ACCOUNT
OF THE
OF THE
In Execution of the
Act of Parliament
For the Better
EmployingandMaintaining
the
Of That CITY.
TO THE
AND
THE
Lords Spiritual and Temporal,
AND
May it please your Honours,
I HUMBLY make bold to lay before You an Account of our Proceedings in the City ofBristol, on the Act of Parliament for Erecting Hospitals andWork-houses for the better Employing and Maintaining the Poor of that City, which passed in the first Sessions of the Parliament begun atWestminsterthe 22d ofNovember1695. whereby the Power invested in the Corporation commenced from the 12th ofMay1696.
The first Thing we did was to choose Four Guardians for each of our Twelve Wards, as the Statute does direct, which, with the Mayor and Aldermen, amounted to Sixty Guardians, and made up our Court.
The Court being thus constituted, at our first Meeting we chose our Officers appointed by the said Act,viz.a Governor, a Deputy-Governor, Twelve Assistants, a Treasurer, a Clerk, and a Beadle.
This being done, we order’d the Guardians who dwelt in each Parish, to bring in an Account of all the Poor in their respective Parishes, their Names, Ages, Sexes, and Qualifications. Also an Account of the Charges expended for maintaining them in each of the last three Years, that so we might bring it to aMedium. We also appointed certain standing Rules for the better governing our Debates, and ordered all things done in the Court to be fairly enter’d in a Journal.
We likewise consider’d which would be most for the advantage of the Corporation, to build Work-houses, or to purchase such Houses, which being already built, might be altered and made fit for our purpose.
These things spent much time, and it was about the Month ofSeptemberbefore we could settle theMediumof the Poor’s Rates, in order to certifie to the Mayor and Aldermen what Sum was necessary to be Raised on the City for the next Year.
But here we met with an unexpectedRemora, Mr.Samuel Walliswas succeeded in his Majoralty by Mr.J. H.and this Change made a great Alteration in our Affairs: For whereas the former had given us all the Incouragement we could expect from him, and had done us the honour to be our first Governor, the latter resolved to obstruct us all he could. And because the power of raising Money was vested in him and the Aldermen, he absolutely refused to put that Power in Execution.
This, together with his other Endeavours to Brow-beat the Corporation, kept us at a stand tillOctober(97.) only our Court met, and discourst things, and we laboured to keep up the Spirits of our Friends, who began to sink under these Discouragements, and to despair of Success, the Work seeming difficult enough in it self; our undertaking being nothing less, then to put to Work a great Number of People, many of which had been habited to Laziness and Beggary; to civilize such as had been bred up in all the Vices that want of Education could expose them to; and to Clothe, Lodge, and feed them well, with the same Sum of Money which was distributed among them when they begg’d, lay in the Streets, and went almost naked.
Yet all this would not have discouraged us, could we have prevailed on Mr. Mayor to have joyned with us. We often sought it, and he as often refused us, till his time being expired, his Successor granted our Request; and then, having lost much time, we were forced to make large steps.
The first we made was, a Vote to take on us the Care of the Poor of the City; and as I remember, this Vote passed inOctoberorNovember1697. though we had then no Money raised, nor could we expect any till after ourLady-day1698. So that from the passing that Vote to this time is about two Years.
The next step was to appoint a Committee of Twelve to hear the Complaints of the Poor, to relieve them, and set them at work; Six whereof were to go out every Month, and to be succeeded by Six more, to be chosen by Ballating.
We had formerly obtained from the Mayor and Common Council, in the Majoralty of AldermanWallis, the Grant of a Work-house, which then lay unoccupied, and the Court had appointed a Committee to place as many Girls in it as it would conveniently contain, both as to Lodging and Working. This is that we called theNew work-house.
But all things having stood still so long, we resolved now to lose no more time; yet we had no Money, nor could we expect any in less than Six Months, from the Poor’s Rates; therefore we resolved to make our several Loans for Twelve Months without Interest to the Corporation on the Credit of their Common Seal; in which Design many of the Citizens lent their Assistance, whereby we became soon Masters of about Six Hundred Pounds Stock. Likewise our Guardians, who were appointed to pay the Poor in their several Parishes, voluntarily advanced their weekly Payments, till they could be reimburst by the Treasurer. The other Stock we Employed to furnish Beds and other Necessaries for our House, Clothes and Provisions for our Children to be taken in, and Materials for their Working.
We had now Two Committees; one for the Poor, the other for the New Work-house.
The Committee for the Poor met twice every Week: And in this Committee we proceeded thus;
First,We Voted that the Poor of the City should be visited in their respective Parishes, and that new Poor’s Rates should be made; and accordingly we ordered the Guardians of each Parish to bring together the Poor on a certain day in some convenient Place, where the Committee met, and without Partiality endeavoured to provide for every one according to their Wants, We likewise took notice of all the young Girls that were on our Poor’s Books, and of such whose Parents took no due Care of them; and these we recommended to the Committee of the New Work-house, to be taken in, and Employed by them.
Our Poor’s Rates we made in this manner: Every One that expected Relief came before us with their whole Families, except such as was impotent and could not come: In our Books we put down the Name of the Man, the Woman, and each Child; together with the Qualifications of all, either as to Age, Health, Civility, &c. what each Person did or could get by the Week, and in what Employment. We likewise set down for what Reason the Charity was bestowed, that when that should cease, or we could find out any other way to provide for it, the Charity should likewise cease.
Having thus seen the state of all our Poor, and provided for them, the Committee sat twice a Week in the Publick Court, to hear and provide for all casual Complaints; which we did in this Manner; We ordered that the Poor in their respective Parishes, should first apply themselves to their Guardian or Guardians, who were to relieve them as they saw fit, till the next Sitting of the Committee, when they were to bring them up with their Complaints, if they were able to come; and this we did, lest the Committee (three whereof made aQuorum) should be deceived; who could not be supposed to know the state of all the Poor in the City, and by this means we had the Opinion of the Guardian of each Parish; nor could he easily deceive us, because he brought the Poor with him, and thereby the Committee became Judges of the Matter laid before them. At these Meetings, care was taken of the various Cases and Exigencies which offered, and in all things there was a regard, as much as could be, to put People on living by their own Labours.
To such as were sick, we gave Warrants to our Physician to visit them; such as wanted the Assistance of our Surgeons were directed to them, and all were Relieved till they were able to Work; by which means the Poor having been well attended, were set at Work again, who by neglect, might with their Families have been chargeable to the Corporation; for some we provided Cloaths, for others Work; where we found People careful, but wanted a Stock to Employ themselves and their Children, we either lent or gave it; where they wanted Houses, we either paid the Rent, or became Security for it; where we found them opprest, we stood by them; where Differences arose, we endeavoured to compose them; so that in a little time all the Complaints of the Poor came to this Committee, (which saved our Magistrates a great deal of trouble) and care was taken that none went away unheard.
The Committee at first sat twice a Week, but now only once in a Fortnight; not that we grew slack in the Care of our Poor, but because their Number being so much abated, by those received into our several Work-houses, the Business does not require their meeting oftner.
The other Committee, (viz.) That for the New Work-house, having first furnished it in order to receive in the young Girls, began with such as were recommended to them by the Committee for the Poor; and this Method hath been generally observed ever since, both by that Committee, and also by the Committee since chosen for our other Work-house; not that either of them depends on the other, but because the first application for Relief is made to the Committee for the Poor.
But before we took in the Girls, we first considered of proper Officers to govern them; and these consisted of a Master, whose Business was to receive in Work, and deliver it out again, and to keep the Account of the House, &c.
A Mistress, whose Business was to look after the Kitchen and Lodgings, to provide their Meals at set times, and other things which related to the Government of the House.
Tutresses to teach them to Spin, under each of which we put Five and Twenty Girls.
A School-Mistress, to teach them to Read.
Servants in the Kitchen, and for washing, &c. but these we soon discharged, and caused our biggest Girls to take their Turns every Week.
We also appointed an old Man to keep the Door, and to carry forth and fetch in Work, and such kind of Services.
Being thus provided, we received in One Hundred Girls, and set them to Work at Spinning of Worsted Yarn; all which we first caused to be stript by the Mistress, Washed, and new Clothed from Head to Foot; which, together with wholesome Dyet at set Hours, and good Beds to Lye on, so incouraged the Children, that they willingly betook themselves to their Work.
We likewise provided for them Apparel forSundays; they went to Church every Lord’s Day; were taught their Catechisms at home, and had Prayers twice every Day; we appointed them set Hours for working, eating, and playing; and gave them leave to walk on the Hills with their Tutresses, when their Work was over, and the Weather fair; by which means we won them into Civility, and a love to their Labour. But we had a great deal of trouble with their Parents, and those who formerly kept them, who having lost the sweetness of their Pay, did all they could to set both their Children and others against us; but this was soon over.
Hitherto things answered above our Expectations; our Children grew sober, and Worked willingly, but we very much questioned, whether their Labours at the Rates we were paid, would answer the charge of their Maintenance; and if not, our great doubt was how we might advance it, without prejudicing the Manufactures.
To clear the first, we supposed our selves in a fair way, having appointed their Diets to be made up of such Provisions as were very wholesome, afforded good nourishment, and were not costly in Price, (viz.) Beef, Pease, Potatoes, Broath, Pease-porridge, Milk-porridge, Bread and Cheese, good Bear, (such as we drank at our own Tables) Cabage, Carrots, Turnips, &c. in which we took the Advice of our Physician, and bought the best of every sort. They had three Meals every day, and as I remember, it stood us (with Soap to wash) in about Sixteen penceperWeek for each of the One hundred Girls. We soon found the effect of their Change of Living, Nature being well supported, threw out a great deal of foulness, so that we had generally Twenty down at a time, in the Measels, Small-pox, and other Distempers; but by the Care of our Physician, and the Blessing of God on his Endeavours, we never Buried but Two, though we have had seldom less than One hundred in the House at any time.
Having thus provided for their Dyets, we next appointed their times of Working; which in the Summer was Ten hours and a half every Day, and an Hour less in the Winter; by which means we answered the two Objections raised against the Poor, (viz.) That they will not Work, and that they spend what they get in fine feeding.
But we soon found, that the great cause of begging did proceed from the low Wages for Labour; for after about Eight Months time, our Children could not get half somuch as we expended in their Provisions. The Manufacturers, who Employed us, were always complaining the Yarn was spun course, but would not advance above Eight penceperPound for Spinning, and we must either take this, or have no Work. On the other side, we were labouring to understand how we might distinguish, and put a Value on our Work, according to its Fineness. This we did by the Snap Reel, which when we were Masters of, the Committee made an Order, That the Master should buy in a Stock of Wool, and Spin it up for our own Accounts, and then proceeded to set the Price of Spinning by the Snap Reel, wherein we endeavoured to discourage Course Work, and to Encourage Fine, because we saw the latter was likely to bring more Profit, not only to the Poor, but to the Kingdom in general. We likewise ordered some things to be made up of the several sorts of Yarn, at the Rates we had set them; and on the whole, we found the Commodities made of fine Yarn, though they were much better than those made of Course, yet stood us in little more; because what the one exceeded in the charge of Spinning, was very much made good in abatement of the Quantity used. We therefore sent to the Manufacturers, and shewed them what Experiments we had made; but finding them still unwilling to advance above the old Rate, the Committee Voted that they would give Employment to all the Poor of the City, who would make application to them, at the Rates we offered to work, and pay them ready Money for their Labour.
We soon found we had taken the right Course, for in a few Weeks we had Sale for our Fine Yarn as fast as we could make it, and they gave us from Eight pence to Two ShillingsperPound for Spinning the same Goods, for which a little before they paid but Eight pence, and were very well pleased with it, because they were now able to distinguish between the Fine and the Course Yarn, and to apply each sort to the use for which it was most proper: Since which, they have given us Two Shillings and Six PenceperPound for a great many Pounds, and we Spin some worth Three Shillings and Six PenceperPound Spinning.
By this means we had the pleasure of seeing the Children’s Labour advanced, which a little before I came up, amounted to near Six PoundsperWeek, and would have been much more, but that our biggest Girls, we either settle forth, or put in the Kitchen; and those we receive in being generally small, are able to do but little for some time after.
The encouragement we had received on this beginning, put us on proceeding further: The Court resolved to purchase a great Sugar-House, out of the Money directed by the Act to be raised for Building of Work-Houses, and fit it up for the receiving in the remainder of the Poor, (viz.) ancient People, Boys, and young Children; which was accordingly done, and a Committee was appointed to manage it. This we called theMint Work-House, because it had been hired by the Lords of the Treasury for that Use.
The Committee began to take in the Boys inAugustlast; these we Cloathed, Dyeted, and Governed, much after the same manner as we had done the Girls, but put them on a different Employment, (viz.) Spinning of Cotton Wool, and Weaving of Fustians: We have now about One Hundred of them together,who settle well to their Work, and every Day mend their Hands; they get us already Six PoundsperWeek; they are likewise taught to Read, and we shall hereafter teach them to Write.
We next took in our ancient People; and here we had principally a regard to such as were impotent, and had no Friends to help them, and to such as we could not keep from the lazy Trade of Begging; these we Cloathed as we saw they needed, and put on such Employments as were fit for their Ages and Strengths, having our Eyes chiefly on those to which they were bred; we found it difficult at first to bend them down to good Orders, but by degrees we have brought them under Government.
Then we called in all the Children that were on our Poor’s Books, and put them under Nurses; those who can speak and go, are carried down into the School, to learn theirA,B,C, &c. As they grow up, we shall put them into the Working Rooms.
The Boys are kept at a distance from the ancient People, who do also lodge in distinct Apartments, the Men in several Chambers on one Floor, and the Women on another; all do something, though perhaps some of their Labours comes to little, yet it keeps them from Idleness: Both the Old and Young attend Prayers twice a day, (except the Bedridden, for whom other Care is taken) and go to Church twice onSun days.
We have now three standing Committees, (viz.) For the Poor, for the New Work-house, and for the Mint Work-house: The first gives all Directions, and makes all Allowances, for the Poor, without whose Order no Guardian can act any thing considerable, except in Cases of absolute Necessity, which at the next Meeting of the Committee he must give an Account of, and desire their Approbation. The other two Committees have Power to Act in the Affairs of that Work-House for which they are chosen: They receive in both Old and Young; they bind forth Apprentices, Correct, order theDyet as they please, oversee the Working, Sell the Manufactures when made, order the Payment of all Moneys, which cannot be done unless the Note be sign’d by the Chair-man; and generally direct every thing relating to those Houses.
The Accounts are made up thus: The Treasurers Account is audited every Year, by a Committee chosen for that purpose; at which time he is succeeded by another Treasurer, chosen by the Court: The Accounts of the Guardians who pay the Poor in their several Parishes are audited every Three Months, by a select Committee chosen likewise by the Court, and are then paid by the Treasurer: The Accounts for each Workhouse are audited by the respective Committee every Month, when the Master adjusts, not only his Account of Cash, but also of each particularSpecieof Goods he hath under his Care, the Ballance whereof is still carried forward to the next, which when allowed of is signed by the Chairman: And the Account for each House is so stated, that it shews at one sight, what the House is indebted; what Debts are outstanding, and from whom; whatGoods remain in the House, and the Quantity of eachSpecie.
At the making up these Accounts nothing (unless very trivial) is allowed, for which an Order is not produced, or found entered in our Books, so that ’tis very difficult to wrong the Corporation of any thing, if the Guardians should endeavour it.
These Committees keep their Journal Books, wherein all they do is fairly transcribed, and signed by the Chairman.
This is what at present occurs to my Memory touching our Work-Houses atBristol;I have been as brief as the nature of the thing would admit: The Success hath answered our Expectation; we are freed from Beggars, our old People are comfortably provided for; our Boys and Girls are educated to Sobriety, and brought to delight in Labour; our young Children are well lookt after, and not spoiled by the neglect of ill Nurses; and the Face of our City is so changed already, that we have great reason to hope these young Plants will produce a vertuous and laborious Generation, with whom Immortality and Prophaness may find little Incouragement; nor does our hopes appear to be groundless, for among Three Hundred Persons now under our Charge within Doors, there is neither Cursing nor Swearing, nor prophane Language, to be heard, though many of them were bred up in all manner of Vices, which neitherBridewellnor Whippings could fright them from, because, returning to their bad Company for want of Employment, they were rather made worse then bettered by those Corrections; whereas the Change we have wrought on them is by fair means. We have aBridewell,Stocks, andWhipping-Post, always in their sights, but never had occasion to make use of either.
What is done in that City, I humbly hope may be carried on by the same steps throughout the Kingdom; The Poor may be set at Work, their Wages advanced without danger to our Manufactures, and they thereby enabled to live on their own Labours, whereby the Charge of the Poor’s Rates may be saved, and a great many worthy Benefactors encouraged to give, when they shall see their Charity so well disposed of. This I have great reason to hope, because we have had near One Thousand Pounds freely given to us within the compass of one Year, and much thereof by Gentlemen who dwelt at a Distance from us, only were willing to Encourage a Work they saw likely to be carried on, which might be of good Example to the Nation.
I am,
Right Honourable
and Honourable,
Your Honours most
Obedient Servant
JOHN CARY.
AN
Towards Setling a
First Published in the Year, MDCXCVI.
To the Right Honourable the LORDS Spiritual and Temporal,and to the Honourable the Commons ofENGLANDin Parliament Assembled.
HAVING lately presented your Honours withAn Essay on Coin and Credit, the chief Design whereof was to shew the Necessity of Setling a well-grounded Credit in this Nation, for Support of the Government, and carrying on its Trade; I do now with all Humility lay before you Proposals to answer that end, which I have not clogg’d with Compulsion to the Subject, supposing nothing of this Nature can be good, where a Common Consent, grounded upon Interest, doth not make it valuable.
Banks, as I humbly conceive, ought chiefly to be Calculated for the Use of Trade, and modeled so as may best content the Traders. What gives them Satisfaction, will answer all other Occasions of the Kingdom. Money passes through the Hands of the Nobility and Gentry, only as Water doth through Conduit-Pipes into the Cistern, but Centers in the Hands of Traders, where it Circulates, and may be said to be used; and among these, Ease, Profit, and Security, are Arguments strong enough to keep a Bank always full; Besides, when the Streights of the Government are taken off, greater Sums will come into Trade, which are now drawn out, in order to make Advantages, above what the Profits of Trade will bring in.
The Heads whereon I propose to build this National Credit, are these which follow:
That a Bank be Erected on the Credit of the Parliament, the Profit or Loss thereof to redound to the Nation, whose chief Chamber shall be setled inLondon, but lesser Chambers in other Places of this Kingdom, at such Distances, as may best Answer the Occasions of the Country; which Chambers to account with that ofLondon, and that to Commissioners appointed by Parliament.
That this Bank shall take in what running Cash shall be offered, and shall give their Notes for it; and shall also allow Interest after the Rate of ###per Cent. per Annum,after the first ### days, till thoseNotes be paid, and shall also pay it again to the Proprietors, or any part thereof, when demanded.
That if any Man puts in his Money for a time certain, not less then ### Months, he shall receive Interest from the time of paying it in, to the time he is repaid.
That this Bank shall let out any Sum again on reasonable Security, either Real, Personal, or Goods, receiving Interest after the Rate of ###per Cent. per Annum, till the Borrower shall think fit to pay it in, which he shall do, by such Parts as will best suit his Occasions, and be discharged from the Interest of what he so pays, and only pay after the Rate aforesaid, for so much as doth remain in his hands.
That Lombards be Erected to attend this Bank, for the Benefit of Traders, under Regulations, which may encourage Trade.
That for the Benefit of Returns, the Notes given in any one Chamber of this Bank, shall be demandable in any other, together with the Interest due till payment, the Receiver allowing for such Returns after the Rate of ### for each Hundred pounds, in the Chamber where he receives his Money.
That to prevent Counterfeits, all Notes given out at any Chamber, shall be made payable to ### or Order, and Assigned from one to another, each Assigner to be Warrantee for the Note, both to the Bank, and also to every later Assignee.
That these Notes shall be taken by the King in all Payments, which will make them currant among the Subjects.
That this Bank do supply the King with all Loans at ###per Cent.Interestper Ann.from the time of borrowing to the time the Money is paid in again, and that it hath the Taxes, or Funds settled by Act of Parliament, for its Security.
That all Debts Contracted to this Bank, shall be of the same Nature with Debts Contracted to the King, and be first paid out of the Estates of the Debtors; and that Extents shall lye accordingly.
That an Account be kept of Profit and Loss in each Chamber, together with the Charges of the Officers, &c. And that it be return’d up every Three Months, as also Account Current, to the Grand Chamber inLondon, where the whole shall be Examined by the Commissioners, and they be liable tothe inspection of the Parliament.
That Registers for Lands be erected in all Counties, &c. where desired, by Act of Parliament.
That Bills be past on the Bank by such as are appointed to buy for the Publick Use of the Nation, payable at the time of their Agreement; by which means every one will endeavour to Furnish the Government Cheapest, when their payments shall be punctual; the King will save a great deal of Moneys, paid now for Procuration, Excessive Interest, &c. and the Fleet and Army will be well paid.
That the Commissioners do once every Year at least, make up the Accounts depending between the Publick and the Bank, allowing ###per Cent.Interest as before;and make application to the Parliament for its Reimbursement.
That Bills and Bonds be made Assignable by Law, and the Property be thereby transfer’d to the Assigne.
That Trustees may put the Money belonging toOrphansinto this Bank, which shall be a discharge to them for so much of their Trust, the Interest to be duly issued out for the maintenance of the saidOrphans; and that all Plate and Bullion belonging to the saidOrphansbe by the Trustees Coined up at the next Mint, and the Money put into the Bank for the use of the saidOrphans.
That the Money in this Bank be freed from Taxes.
Concerning which Credit I shall briefly speak to these Four Things.
I. First,Its Security.
II. Secondly,Some of those Advantages the Nation will reap by it.
III. Thirdly,I shall make some Comparison between this Credit, and the present Bank ofEngland.
IV. Fourthly,I shall set forth the necessity of setling the Nations Credit in this present Sessions.
I. As to theFirst,It hath the Legislative Power of the Kingdom ofEnglandfor its Foundation, a Security strong enough, and nothing else can be so, to build this Great Superstructure upon, the well Modeling whereof, will keep it from being subject to the Designs of Private Persons; This will last so long as the Peoples Liberties last, for no Change can weaken it, so long as the People ofEnglandhave a hand in making their own Laws, whose Common Interest will be so Riveted and Made up with the Security of this Bank, that they will in a short time become one thing, so that nothing less than a Conquest will be able to shake it; This we cannot fear from any Nation besides theFrench, nor from them neither, tillHollandis first subdued; therefore, as those States must first truckle, so far will our Bank be more secure than theirs;Francecannot Erect a Bank on any sort of Security, because, the Will of that Prince being his Law, alters according to his present Occasions; Nor canSpaindo it; where, not only the Government, but also the Profits thereof, are divided amongst its Ministers; As forSweden,DenmarkandPortugal, the Princes ofItalyandGermany, few believe their Circumstances to be such, as to Render them capable of Erecting a Bank, which may draw the Eyes ofEuropeto look towards it;Englandonly can do it, for as an easie Government is its own Security, so that Security encourages Trade, and these two, accompanied with the Profits offered to a Running Cash, will make allEuropedesire to settle their Moneys here.
Seeing then, that nothing but the same Power which first Constituted this Bank can destroy it, (a Power with whom we Intrust our Lives, Liberties, and Estates) I cannot see the least Room left for distrust; for what Advantage can any future Parliament expect by a design of seizing this Bank, when the Treasure thereof may be drawn out, whilst they are framing the Law; and the Consequence will be, the Ruining their own Estates, for which they can promise nothing to themselves, save the being possest of Empty Papers.
What farther Hazard the Nation can run, must proceed from the Neglect of the Managers, or the Fraud of under Officers, which, Care in the First, and Security for the Last, will prevent.
II. The next Thing is to shew the Advantages whichEnglandwill reap by Setling the Credit here proposed; whereof some do Immediately attend it, others are Consequential.
Those which Immediately attend it, are,
1st, The Rate of Interest will hereby be brought lower, to the Advance of our Lands, and Encouragement of our Trade, by Methods altogether as Profitable to the Usurer, who will be willing to let his Money Cheaper, when it shall never lye dead without his Consent, his Security be unquestionable, and freed from the Charges of litigious Suits, which so frequently accompany doubtfull Mortgages.
2dly, Both Gentlemen and Traders will hereby be supplied with Money to serve their Occasions, on such reasonable Security as they are able to give, when that Security shall be strengthned, by having the Preheminence above all other Obligations; They may also have liberty to pay it in by such Proportions, as they can best spare it, when it shall be equally the Interest of the Bank to receive it so, which will never want new opportunities to let it out again.
3dly,This Credit will give us an Esteem in Foreign Parts, Draw their Moneys hither, and consequently their Trade, and thereby their People, all which will be an Advantage toEngland.
4ly, It will supply the Government with Money to carry on the War on Moderate Interest, and make its Credit good; whereby the Publick Revenues will Reach farther to serve its Occasions, and the Ministers of State be freed from many anxious Thoughts, which now make them Uneasie.
5ly, It will make Returns from place to place inEnglandboth Cheap and Certain, which will help our Inland Trade, and prevent Robberies, now too much encouraged by travelling with Money; It will also be profitable to our Foreign Trade, by bringing Exchanges low in our favour.
6ly,The Frauds put on the Country by Counterfeit Notes will be prevented; for though the method of Indentures and Stained Paper now used by the Bank ofEngland, may be a Security to it self, yet it is not so to any one else, seeing Art is able to Counterfeit every thing, at least so like, as not to be easily discover’d: Now, what Satisfaction will it be to those who have received their Notes instead of Money, to be told by the Managers that they are Counterfeit, when they know not where, nor from whom to get Reparation; whereas being Assigned from Man to Man, they are taken on the Credit of the Assignor, who runs no other risque thereby, save his Warrant that they are truly what he pays them for.
7ly,This Bank will be free from Stock-Jobbing, the Bane of all good Designs, which will find no room here, because it cannot be divided into private and particular Interests.
The Consequential Advantages will be these,
1st, By this means the Taxes for carrying on the War the ensuing Year, together with the Twenty five hundred and Sixty four Thousand Pounds, which fell short on the Salt Fund, may be raised, by Methods, wherein the Kings Revenue, and the Peoples Profits, shall go hand in hand, without Anticipations.
2ly,The Funds now setled on our Manufactures, which discourage our Trade, and Ruin our Poor, may be sunk and taken off; such as those on theGlass-makers,Tobaccopip-makers,Distillers, and others, many whereof have yielded little to the Government, above the Charge of Collecting, and the best of them have done great mischief to our Trade; Now seeing these are only so many several Modus’s of raising Money, those methods must doubtless do Best, which least Injure our Trade.
3ly,The Debt due to the Transport-Ships may be paid off, and those People, to whose Early Loyalty the Reduction ofIrelandis very much owing, be Contented.
4ly, The Mints may be kept Imployed, and the Kingdom thereby filled with Coin.
5ly,Our Wooll may be kept at home, which I humbly conceive can never be done, till a good Credit be settled, any thing less will not be large enough to cover the Sore Intended to be Cured.
6ly, The Plantation Trade may be better secured, especially that of Tobacco, and Methods may be proposed to Render it more Profitable, both to the King, and also to the Subject.
7ly,The Bank ofEngland’s Notes may be brought to Par, and Tallies of all sorts in a short time be paid off at their full Value, which I humbly conceive will be difficult to be done, any other way, the settling a Credit on either, or grafting them both together, seem improbable Methods to answer those ends.
I humbly hope to make Proposals in this present Sessions for putting these into Practise, if a good Credit be timely setled.
Besides these, many other Advantages will accrue to the Nation, many of which Ihave set forth in my before Recited Essay on Coin and Credit.Pag.27, 28, 29.
III. The Third thing is to make some Comparison between the Credit here proposed, and the present Bank ofEngland;which I humbly conceive is so shaken in its Reputation, as hath rendred it uncapable to be made the Foundation of a National Credit; and whilst we labour to recover it, we may run the hazard of destroying our Trade, disturbing the Government, and keeping our selves under a lingring War, whilst we Encourage theFrenchKing, to try his Utmost Efforts, hoping, that our Difficulties at home, will force us to accept of a dishonourable Peace.
’Tis certain, Nothing can be the Support of a National Credit, which is not better, or at least so good as Money; and this is not to be found in the Bank ofEngland, whose Notes whilst they are Oneper Cent.worse than Specie, will always keep their Coffers Empty, because no Man will put into it a Hundred Pounds in Money, when he can purchase a Note of the same Value for Ninety Nine; and the Consequence will be this, that the Lender, or rather the Jobber, will never rest till he is repaid, that so he may be making advantage by a New Purchase; And if this will be the effect of a Credit worse only by oneper Cent.than Money, what will it be when ’tis sunk to Sixteen; Whereas, on the other side, when a Credit is better than Money, the Coffers will ever be full, because all Men will endeavour to put in their Money, and be impatient till ’tis done; And thus it will be, when the Lender thinks himself secure, and makes more Profit by having his Money in the Bank then in his Chest, who will therefore receive out no more at a time, then his necessities shall require, and for the same Reason, those to whom he pays it, will endeavour to return it thither again so soon as they can.
IV. As to the Fourth thing Proposed, The necessity the Nation lies under to have its Credit setled this present Sessions, it will appear, if we consider, howLondonnow stands in Competition with allEnglandbesides, as to the Specie of Money, and how it will stand before another Sessions; ’Tis generally agreed, that about One Moiety of the Money ofEnglandis already Center’d in that great City, and the rest is not enough to pay the Debts owing to it, together with his Majesties Revenues, Bonds already entered into, and Taxes now to be given, for Six Months longer, besides the Foreign Bills, which are generally made payable there, all which must be returned in Specie; for though by an Act of this present Sessions: Intituled,An Act for the farther Remedying the ill State of the Coin of this Kingdom, it is among other things Provided, That all Money that shall be brought in upon Account of Taxes, or Revenues, or Loans, at Five Shillings and Eight PenceperOunce, shall be carryed to the next adjacent Mint, in order to be Recoined, yet this will no way be Serviceable to the Country, unless a Credit be setled, it must otherwise be sent up toLondonafter Coined, for want of Returns, the Debts due to the Country being paid there in Bank, which is Sixteenper Cent.worse than Money, and those due from the Country demanded in Specie, so that the Money ofEnglandis every Week brought up thither; and then, if it be next considered, what Methods are left to the Country, to draw it back again,viz.by Provisions and some few other things, ’twill be reasonable to believe, that seeing the supply made from that City to the Country is greater than what is made from the Country thither, all the Cash ofEnglandwill Center there in a short time, to the Ruining of the other Trading Cities, and disabling of the Country to pay future Taxes; and this will make the dependence onLondonstill greater, till by its own Bloatiness it must at last burst, when the Estates of the Traders shall consist only in Debts due from the Country, which must still lye out, for want of a Specie to pay them in; so that all the AdvantageLondonwill receive is, that it will be last Ruined.
Now if a good Credit be settled out of Hand, and the Mints continued in the Country, the Money that is now there may be still kept there, and Methods found out to increase it, and the Trade ofEnglandcarryed on with an equal Circulation in all places; this will keep up the Rents of the Lands ofEngland, which must otherwise fall in their Values, suitable to the distance they stand in from that great Metropolis.
If it be Objected, That the Management of this Credit will be very costly to the Nation; I humbly conceive, that the Profits thereof will not only support its Charge, but also bring in a great Overplus, which may be usefully Imployed to the Nations Advantage; yet were this Objection true, nothing can be termed good Husbandry which spoils our Trade, the stopping whereof but for one Month, will be many Millions lost to the Kingdom.
If by Rectifying this, or any better Proposal from a more thinking Head, the Credit of the Nation may be setled in this present Sessions, I have Reaped the End I Aimed at, the Good and Welfare of my Native Country; which I Humbly submit to your Honours great Wisdom, and shall be Ready to Explain any thing that may seem doubtful, when I am thereto Commanded.
Your Honours
Most Obedient Servant,
JOHN CARY.
January 5th, 1696.
SOME
CONSIDERATIONS
Relating to the carrying on
The Linnen Manufacture
In the KINGDOM of
IRELAND.
First Published in the Year, MDCCIV.
SOME
Relating to
In the Kingdom of
IRELAND.
THE Linnen Manufacture inIreland, being a Subject so much discours’d of the last Sessions of Parliament, I humbly presume to offer some Thoughts how it may best be carried on.
But before I enter upon it, I will Consider the State of that Kingdom, with respect to its Foreign Trade; the Ballance whereof I take to be against them, and must therefore be Supplied, by carrying out their Coin, which is already grown so Scarce, that ’tis to be fear’d, in a short time there will be little left.
To explain this, I will lay down some of those steps, by which the Ballance of Trade, daily Alters to their Prejudice.
Ist, The great fall of their Products,viz.Wool, Tallow, Hides, Beef, &c. which are abated in their Prices above one Third of what they yielded before the War; so that should the same Quantities of those Commodities be bought up for Exportation, as formerly there were, yet they would not amount to the Value they then did.
IIly, The Ports ofSpain,France, andFlanders, which were their Great Markets, being now shut against them, the Profits which they made by their Foreign Trade in the times of Peace, over and above the first value of the Commodities exported, are also lost to the Kingdom.
IIIly, The Prohibiting the Exportation of their Woollen Manufactures, whereby their People were Employed, and their Labours sold to Foreign Nations, hath very much lessened the Ballance of their Foreign Trade.
IVly, The great Sums of Money spent in this Kingdom by the Nobility and Gentry ofIreland, who come over hither for Pleasure, or Necessary Attendances, on the Court, Parliament, or Private Affairs, and send hither their Children for Education; the Purchases they have lately made of the Forfeited Estates; and the yearly Remittances thence for the Rents of Lands belonging to the Nobility and Gentry of this Kingdom, do all make against them.
Vly, The great Consumption of Commodities among them from this Kingdom, which, though it Encreases our Trade, and makes it our Interest to Support that Kingdom, must be allowed to be a Prejudice to them.
All which being laid together, it seems apparent to me, that the Ballance of their Trade must every Year grow more against them, till their Mony is drawn away, except some New Manufacture, fit for Exportation, be Encouraged amongst them.
And I think none more proper than that of Linnen; which, besides the Employment it will give to their Poor, will also take up large Tracts of Land for Raising of Hemp and Flax; and being a Manufacture no way Interfering with our own, we may take it from them, in Barter for what they have hence, without any Manner of Prejudice to the Trade of this Kingdom.
Besides, The People ofIreland, being Employed on the Linnen Manufacture, would by degrees be taken off from making so much Worsted and Woollen Yarn as they now do, which they send hither at Cheaper Rates than we are able to make ’em; The Price of Labour in all Places being according to the Prices of Privisions, and those according to the Rents of Lands, the Poor can afford to work there on lower Terms than it can be expected they shou’d do here; On the other side, if the low Labour of the Poor ofIreland, was Employ’d on Spinning of Linnen Yarn, it would be an Advantage to the Kingdom ofEngland, to have it sent hither, because it would Enable us to make our Fustions, and other Manufactures, where it is used, Cheaper than now we do; whilst our own Poor might be Employed on Spinning of Wool; and we might Afford to give them better Wages, without fear of being Beat out of our Manufactures by any other Nation, provided Care was taken to keep our Wool at Home.
The next thing to be Considered is, how this Work may be best carried on; which I am of Opinion, must be done by a Corporation, with a Joint-Stock, Sufficient, not only to Buy up what Linnens shall be made, but also to Furnish the Kingdom with Money on Easy Terms; which will likewise Encourage the Raising of Hemp and Flax.
If the High Rates of Interest inIrelandbe considered, and the present State of the Linnen Manufacture there, ’twill not be Difficult to see, how Unlikely it is to be carried on by Private Stocks, who can make Tenper Cent. per Annum, by letting out their Money; ’tis true, the late Act hath reduced it to Eight, but that Act, having no regard to Incumbrances entred into before the 25th ofMarch, 1704, I do not see, how it will much help the People ofIrelandat this time, when the Scarcity of Money does Disable them to Discharge Prior Engagements; so that private Men have Opportunities enough to settle theirs at Tenper Cent.which in all probability they will rather Chuse, than to lay it out in Linnens, unless they can be Assured of a far greater Profit, than they can make by letting it out.
Besides, as Interest is now managed, ’tis both a Clog to the Gentlemen’s Estates, and a Discouragement to Traders and Manufacturers, considering, that the whole Sum borrowed must be paid in at once; by which means, being got into the Usurer’s Books, they can scarce ever find the way out; Now if the Borrower had Liberty to pay in the Principle, by such Parts as he is able to raise it, and the Interest for so much to Cease from that time, this would Encourage Industry, and Promote Improvements, both in Product and Manufactures, which are the two things that encrease the Wealth of a Nation.
An Infant-Manufacture must be Carried on at a Small Profit, and must as I may say, Fight its way through; which cannot be done, where Interest carries such a Load with it; and therefore I am of Opinion, that Nothing less than a Joynt Stock, can makeIrelandFlourish; which will in the Consequence turn likewise to the Advantage ofEngland; the Gentlemen ofIreland,being by these Means made more Easy in their Circumstances, and having their Former Incumbrances brought Lower, will Spend more of their Money here, and Wear more of our Manufactures there.