They brought all their running Cash into one Bank, and settled a sub-Cash depending upon the Grand-Bank in every Province of the Kingdom; in which, by a strict Correspondence and crediting their Bills, they might be able to settle a Paper Credit over the whole Nation.
They went on to settle themselves in all sorts of Trade in open Companies, and sold off their Interests in the publick Stocks then in Trade.
If the Government wanted a Million of Mony upon any Emergency, they were ready to lend it as a Body, not by different Sums and private Hands blended together with their Enemies, but as will appear at large presently, it was only Crolian Mony, and pass'd as such.
Nor were the Consequences of this New Model less considerable than the Proposer expected, for the Crolians being generally of the Trading Manufacturing part of the World, and very Rich; the influence this method had upon the common People, upon Trade, and upon the Publick was very considerable every way.
1. All the Solunarian Trades-Men and Shop-keepers were at their Wits end, they sat in their Shops and had little or nothing to do, while the Shops of the Crolians were full of Customers, and their People over Head and Ears in Business; this turn'd many of the Solunarian Trades-Men quite off of the hooks, and they began to break and decay strangely, till at last a great many of them to prevent their utter Ruin, turn'd Crolians on purpose to get a Trade; and what forwarded that part of it was, that when a Solunarian, who had little or no Trade before, came but over to the Crolians, immediately every Body come to Trade with him, and his Shop would be full of Customers, so that this presently encreas'd the number of the Crolians.
2. The poor People in the Countries, Carders, Spinners, Weavers, Knitters, and all sorts of Manufacturers, run in Crowds to the Crolian Temples for fear of being starv'd, for the Crolians were two thirds of the Masters or Employers in the Manufactures all over the Country, and the Poor would ha' been starv'd and undone if they had cast them out of Work. Thus infenfibly the Crolians encreas'd their number.
3. The Crolians being Men of vast Cash, they no sooner withdrew their Mony from the General Bank but the Bank languisht, Credit sunk, and in a short time they had little to do, but dissolv'd of Course.
One thing remain'd which People expected would ha' put a Check to this Undertaking, and that was a way of Trading in Classes, or Societies, much like our East-India Companies in England; and these depending upon publick Privileges granted by the Queen of the Country, or her Predecessors, no Body could Trade to those Parts but the Persons who had those priviledges: The cunning Crolians, who had great Stocks in those Trades, and foresaw they could not Trade by themselves without the publick Grant or Charter, contriv'd a way to get almost all that Capital Trade into their Hands as follows.
They concerted Matters, and all at once fell to selling off their Stock, giving out daily Reports that they would be no longer concern'd, that it was a losing Trade, that the Fund at bottom was good for nothing, and that of two Societies the Old one had not 20 per Cent. to divide, all their Debts being paid; that the New Society had Traded several Years, but if they were dissolv'd could not say that they had got any thing; and that this must be a Cheat at last, and so they resolv'd to sell.
By this Artifice, they daily offering to Sale, and yet in all their Discourse discouraging the thing they were to sell no Body could be found to buy.