Tell me then, why a Hundred Pound in a Corporation, is more valuable than a Hundred in the Exchequer? Is it not because you can part with your Property with much more Ease by way of Transfer in London? Which is not practis'd at the Exchequer: Besides, the Transferring is near at Hand.

The Directors of any Corporation, if not truly honest, may impose at all Times upon the rest of the Proprietors, by making a Dividend above the intrinsick Value of the Nett Produce of Profit; and the Legislature would do well to provide against such Practices for the future.

If due Encouragement was given for the Importation of Iron, Hemp, Pitch and Tar, from our own Plantations, the Export of a great deal of our Bullion would be sav'd, our Colonies encourag'd, and we should be then able to supply the Dutch, French, Spaniard, Italian and Portugueze with Iron, and bring in Two Hundred Thousand Pounds per Ann. Balance of Trade.

If the South-Sea Company would trade to our own Islands, viz. the Bahama, and to Carolina; that Trade alone would bring them in Five Hundred Thousand Pounds per Ann. and with a small Expence, if well manag'd.

A

PROPOSAL

To Restore Publick Credit, and Pay
the Nation's Debts.

I. That the South-Sea Company be put in Statu quo; and if the Estates of the late Directors, their Aiders and Abettors will not do it, the Government to make up what is wanting.

II. That the Subscriptions at Three Hundred, Four Hundred, Eight Hundred, and a Thousand, be all paid into the Exchequer at Two Hundred, and there to have a Credit for One Hundred; for which the Government is to pay Ten per Cent. until the One Hundred shall be paid off: And that those who have not paid full Two Hundred, do make up that Sum within the Time limited by the late Directors.

III. That a Proper Place in London be appointed to keep a Book, wherein each Person may be made Debtor and Creditor; and a Duplicate of such Book to remain in the Exchequer. And that there may be a Book, wherein every Person may transfer their Property.

IV. The Debt of Seven Millions, Five Hundred Thousand Pounds, being forgiven the South-Sea Company, and they put in Statu quo by the Government; the Nation will stand Debtor and Creditor as followeth: Viz.

Nation Debtor.
To South-Sea Company,11,746,384
To Money-Subscribers, 20,004,000
To Redeemable Debts,13,886,486
To Unredeemable Debts,12,070,343
To Interest, __________
Nation Creditor.
By a Moiety of the Money-Subscribers,10,002,000
By Ditto Redeemable Debts,6,993,247
By Ditto Unredeemable Debts,6,035,178
__________
23,030,425