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 to England.
4ly, It will supply the Government with Money to carry on the War at moderate Interest, and make its Credit good; whereby the public Revenues will reach farther to serve its Occasions, and the Ministers of State be freed from many anxious Thoughts, which now make them uneasy.
5ly, It will make Returns from place to place in England, both 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 County, by Counterfeit Notes will be prevented; for though the Method of Indentures and stained Paper now used by the Bank of England, 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 King’s Revenue, and the Peoples Profits, shall go hand in hand, without Anticipations.
2ly, The Funds now settled on our Manufactures, which discourage our Trade, and ruin our Poor, may be sunk and taken off; such as those on the Glass-makers, Tobaccopipe-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 and Reduction of Ireland is very much owing, be contented.