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<DATE>2008-06-02</DATE>
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<NAME>John Pas</NAME>
<RESP>MURP</RESP>
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<ITEM>Proofed and reviewed as part of batch B080510.pdcc.</ITEM>
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<IDG S="marc" R="UM" ID="B01983">
<STC T="W">C1881</STC>
<BIBNO T="oclc">52614555</BIBNO>
<VID>175790</VID>
</IDG>
<TEXT>
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<DIV1 TYPE="text">
<PB REF="1" MS="y"><!-- PDF PAGE 9 -->
<HEAD><HI>PROPOSAL,</HI> By Doctor <HI>Hugh Chamberlen,</HI> For a Land Credit, pre&s;ented to the Parli|ament, By the Committee, to whom it was referred to be Con&s;idered.</HEAD>
<P><HI>PRimo,</HI> That by an Act of Parliament, The Sum of 300000 <HI>lib. &s;ter|ling,</HI> &s;hould be &s;truck, and made current in Talleys or Notes, of dif|ferent Denominations.</P>
<P><HI>Secundo,</HI> That an Office, con&s;i&s;ting of privat Per&s;ons, &s;hould be ap|pointed by the Parliament, for lending the&s;e Talleys out at 5 <HI>per|cent,</HI> upon the be&s;t Land Securitie.</P>
<P><HI>Tertio,</HI> That the principal Sums borrowed in the&s;e Talleys, &s;hall ne|ver be repayed, only the Lands of &s;uch who borrow, &s;hall be burdened with the &s;aid 5 <HI>per cent</HI> intere&s;t, for the &s;pace of 25 years.</P>
<P><HI>Quarto.</HI> That four of the &s;aid five <HI>per cent</HI> intere&s;t, payed yearly in Talleys &s;hall be de&s;troyed by the Office, &s;o that at the end of 25 years or thereby, there &s;hall not be one Talley in the Kingdom.</P>
<P><HI>Quinto.</HI> That one <HI>per cent</HI> of the &s;aid five of Intere&s;t, &s;hould be im|ployed for defraying the nece&s;&s;ary Charge of the Office; Or, otherwi&s;e, as the Parliament &s;hall think Convenient.</P>
<DIV2 TYPE="example">
<HEAD>An Example of this Propo&s;al:</HEAD>
<P>IF 300000 <HI>lib. &s;terling</HI> in Talleys, be lent out at five <HI>per cent</HI> Inter|e&s;t, Then this Intere&s;t will Extend to 15000 <HI>lib. &s;terling</HI> yearly, of which 15000 <HI>lib. &s;terling.</HI> The Sum of 12000 <HI>lib: &s;terling</HI> being 4 of the &s;aid five <HI>per cent</HI> &s;hall be payed in Talleys and yearly de&s;troyed by the Office, but the remaining 3000 <HI>lib.</HI> being one of the &s;aid 5 <HI>per|cent,</HI> &s;hall go for defraying the nece&s;&s;ary Charges of the Office.</P>
<P>The Heretors who borrow the &s;aid 300000 <HI>lib. &s;terling,</HI> &s;hall con|tinue paying punctually the &s;aid 5 <HI>per cent</HI> Intere&s;t for the &s;ame, du|ring the &s;pace of 25 years, at the end of which Term their Land &s;hall be free, and the principal &s;hall never be returned, for by de&s;troying the fore&s;aid 12000 <HI>lib. &s;terling</HI> yearly of the Talleys, all &s;hall be returned in the fore&s;aid &s;pace of 25 years, becau&s;e 12000 multiplyed by 25<GAP DESC="illegible" RESP="pdcc" EXTENT="1 letter"> makes 300000. which is the compleat Sum of the Talleys.</P>
<P>The Honourable E&s;tates of Parliament, may be plea&s;ed here to ob&s;erve That the Doctor does not limit this Propo&s;al to a certain definit Sum, nor to a certain limited time; for the Parliament, if they think it proper, may conde&s;cend upon any Sum, greater, or le&s;&s;er, to be repayed within any Term of years.</P>
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