THE Second is, a Due Inspection into the Affairs of the Poor, and putting an End to that Pernicious Trade of Begging, which I can Assure this Honourable House, from the Experience we have had in their Regulation at Bristol, may be done, and that the Poor may be Trained up to an Early Delight in Labour; The Means and Methods whereby That was Accomplished, though at first thought Impracticable, I have set forth in the Appendix. pag. 143.
THE Third is, the Keeping of our own Wooll at Home, and Preventing the Wooll of Ireland from being Transported any where else, save to this Kingdom only; which I am Persuaded can never be done, by any other Method, but by a Register, and that That will effectually do it; towards which I have made an Essay in the following Treatise.
THE Fourth is, the Encouraging the Linnen-Manufacture in Ireland; ’Tis not Easy to Comprehend the Advantages that will thence arise to both Kingdoms, when Each of them shall be fully Employed, on a Distinct Manufacture; The Hands that are now kept at Work there, on the Spinning of Wooll, might be then Turned to Linnen, and a great Part of their Lands would be taken up, in Raising Flax and Hemp, for which they are very Proper; and then a Stop might be put to the Importation of those Great Quantities of Worsted and Woollen Yarn thence, so Pernicious to the Poor of this Kingdom, the Spinning whereof, if Imported in Wooll, would amount to many Thousand Pounds per Annum, to be Divided amongst them; And it is Certain, that Spinning is the most Profitable Part of the Woollen-Manufacture, because it is done by Women and Children, who can no otherwise be Employed.
IN the Year 1704, I was Desired by the Ministry, to give my Thoughts of such an Undertaking, which I then did, and Printed some Considerations Relating thereto, Adapted for that time, which I have added in the Appendix, pag. 187.
NOR can This be any Prejudice to the Linnens of North-Britain, being of quite different Sorts; which should also for many Reasons be Encouraged, by such Means and Methods, as on due Consideration may be thought proper.
THE Fifth is, the Carrying on the Fishery, which Deserves all the Encouragement the Legislature can give it; and I think the Readiest way to do it, is, by Incorporating such Societies, as are willing to set upon it with Joint Stocks, but not Exclusive to any others, which will Promote Industry, and Shut out Stock-Jobbing, the Bane of so many Good Undertakings.
THE Sixth, and indeed the Foundation of all the Rest, is, the Establishing a Substantial Credit, Large enough to Answer all the Occasions of the Nation, both Publick and Private, which is the Wheel whereon all the Rest must Turn, and whereby, not only the Trade of the Kingdom, but also the Occasions of the Government, may be Supplied, and the Publick Debts gradually Sunk, by a Good Management; and This, I Humbly Conceive, cannot be Setled any other way, but on a Parliamentary Foundation, any thing less, will be too Narrow.
IN the Year 1696, I made some Essay towards such a Credit, which I then Presented to both Houses of Parliament, and have now Incerted it in the Appendix, Pag. 165. But the Bank of England, having about that time Furnished his Majesty with a Considerable Sum of Money, then very much wanted, for the present Payment of the Army, which the Ministry could not otherwise have Raised, though they Approved of the Projection, were Unwilling to Disoblige at that Juncture, by Setting up any thing like theirs, and so that Matter Slept then, as it had ever done, if I had not Observed, that the Famous Mr. Laws had drawn a Scheme from it, for the Service of France, as near as the Constitution of that Kingdom will admit; Not that I think it can be Lasting, the Foundation being laid on Sand; Yet it hath Served the Present Occasion, to Pay off the Debts of that Nation, by an Incredible Stock-Job, which must in all Probability, End in Confusion and Discontent.
NOTHING can Support a National Credit, but a Steady Government, where the Arbitrary Will of a Prince, cannot withdraw, or Lessen the Security at his Pleasure; and had such a One been then Established here, in all Probability, we bad been severall Millions less in Debt, and not felt that Heavy Load of Taxes, which hath Opprest our Lands, and Injured our Trade; Nor do I think those Debts can be Discharged by any other way, Private Men now carrying off those Profits, which should Sink them by Degrees.
THE Advantages of a National Bank, and the Good Effects it will have, in this Free Government, towards the Lessening our National Incumbrances, will plainly Appear, when it is Considered, that One Hundred Pounds Borrowed, will Circulate Two, besides it self, and thereby Reduce the Interest, to One Third Part of what is paid to the Lender, but if it Circulates Three, then to a Quarter, and it may be, to much Less, according as a Bank hath Credit, and is found Usefull.