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<DATE>2010-07-04</DATE>
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<NAME>Mona Logarbo</NAME>
<RESP>MURP</RESP>
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<ITEM>Proofed and reviewed as part of batch B100611.apex.</ITEM>
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<TEXT LANG="eng">
<BODY>
<DIV1 TYPE="text">
<PB N="1" REF="1" MS="y">
<P><TABLE>
<ROW>
<CELL>A Million Lottery was Propo&s;ed in Print by <HI>T. N. Nov.</HI> 15. 1694. And now for Rai&s;ing a Fond of 140000 <HI>l.</HI> Yearly for this Million Lottery, a Three Months Tax of 70000 <HI>l.</HI> a Month, and the Duty continued on Salt, will do it. And 'Tis to be con&s;idered, that the fir&s;t Payment to &s;uch as &s;hall advance this Mo|ney (be&s;ides what Rebate &s;hall be allowed them for paying it in &s;ooner, which comes out of the Money paid) will be probably at <HI>Lady-day</HI> 1696. And the fir&s;t Payment to the Fortunate will be then but</CELL>
<CELL>20000 <HI>l.</HI></CELL>
</ROW>
<ROW>
<CELL>And at <HI>Michaelmas</HI> Second Payment</CELL>
<CELL>120000</CELL>
</ROW>
<ROW>
<CELL>In all</CELL>
<CELL>140000</CELL>
</ROW>
</TABLE></P>
<P>Now to make the Rai&s;ing this Ea&s;ie,<LB>
Let a Months A&s;&s;e&s;&s;ment of 70000 <HI>l. per Men&s;em</HI> be made Payable for the Month of <HI>February</HI> 1695/6, which will come after the Years Tax, if any of 4 or 2 <HI>s.</HI> in the Pound, which if &s;o, will end at <HI>Chri&s;tmas</HI> 1695. and out of it may be made the fir&s;t Payment at <HI>Lady-Day,</HI> 1696. being 20000 <HI>l.</HI> only to the Fortunate, and leave 50000 <HI>l.</HI> towards the next Payment. And then &s;uppo&s;e there be charged by way of the like A&s;&s;e&s;&s;ment on the Month of <HI>Augu&s;t,</HI> 1696. 70000 <HI>l.</HI> more, 'twill come in time enough with the 50000 <HI>l.</HI> afore&s;aid to make 120000 <HI>l.</HI> which will be to be paid to the Benefitted and not Benefitted Tickets for the <HI>Michaelmas</HI> Payment 1696. And then let the Month of <HI>February,</HI> 1696/7. be charged with 70000 <HI>l.</HI> more; out of which there may be paid 20000 <HI>l.</HI> to the Fortunate at <HI>La|dy-Day</HI> 1697. and leave 50000 <HI>l.</HI> (towards the next Payment at <HI>Michaelmas</HI> 1697.) which with what may be rai&s;ed from the Salt (now propo&s;ed to be continued) 'twixt the <HI>17th.</HI> of <HI>May</HI> 1697. when the pre&s;ent Charge on it ends, and <HI>Michaelmas</HI> following, will be &s;ufficient to make the <HI>Michaelmas</HI> Payment 1697. And the Duty of Salt will by that time be &s;o well &s;etled, that it cannot be doubted but that 'twill after abundantly pay the 140000 <HI>l.</HI> Yearly for whatever time 'tis given.</P>
<P>And thus for only one three Months A&s;&s;e&s;&s;ment at 70000 <HI>l. per</HI> Month, being proportionable only to a &s;ix Weeks Tax at 4 <HI>s.</HI> in the Pound to be paid in two Years, and none of it payable till after the 4 or 2 <HI>s.</HI> in the Pound &s;uppo&s;ed to be &s;et for the Year 1695 does expire. And for the continuing of the Salt Tax, which will always be ea&s;ie, here may be by way of Lottery for the Service of the Year 1695 thus Rai&s;ed&mdash;I Million.</P>
<P>Or 3 <HI>d.</HI> in the Pound (as it may be ea&s;ie laid) on Tobacco, or 1 <HI>d.</HI> a Pound on Soap, and the Additional Duty again renewed upon Sugars, (either of which may be done with &s;mall Inconvenience and few Officers) will be a &s;ufficient Fond for the 140000 <HI>l.</HI> Yearly for the Million, by way of Lottery now propo&s;ed to be Rai&s;ed.</P>
<P>Now, for a Fond for Rai&s;ing any Sum of Money not exceeding 300000 <HI>l.</HI> yearly, Tobacco is propo&s;ed to be Taxed as herein afterexpre&s;t; but fir&s;t Note, &s;uppo&s;e its Prime co&s;t in the Plantations <HI>per <ABBR>lb.</ABBR> 1 d.</HI> &s;uppo&s;e its Freight and a&s;&s;urance home in Peace more about 3 <HI>ob.</HI> the Kings Duty one way or other comes to 5 <HI>d.</HI> which being good part of it to be paid or &s;ecured on Landing, and before 'tis di&s;po&s;ed of, does much inconvenience the Importer, he for that rea&s;on being obliged to have and keep by him (or to be able at lea&s;t to give Security for) double the Money he would otherwi&s;e have need of for his Tobacco Trade if he were not to pay the Duty till his Commodities &s;old.</P>
<P>Now, by this Computation the Prime Co&s;t of the Tobacco, Freight, Cu&s;tom, <HI>&amp;c.</HI> comes to <HI>per</HI> Pound 6 <HI>d.</HI> &frac34;, and is commonly &s;old by the Importer at about 7 or 8 <HI>d.</HI> and &s;o the gain of the Importer by it is about 1 <HI>d.</HI> &frac13; at mo&s;t, and oftentimes not &s;o much: And for the Tobacco (of which all that is landed mu&s;t pay and &s;ecure the Duty of 5 <HI>d.</HI> the Pound to the King) which is after Tran&s;ported, tho' the Duty all but one half-penny be returned to the Importer if Shipt out in one Year, the Importer in the mean time is &s;orced to be out of Pocket, or give Security for the Duty of &s;uch Tobacco to be paid, being more than double the value of the To|bacco it &s;elf. And for to Reimbur&s;e him&s;elf oftentimes in Nece&s;&s;ity of that Money (&s;o by him laid down or &s;ecured for the Duty) again, is forced to Tran&s;port it, whether the Markets abroad at that time require it or not; or el&s;e for want of Mo|ney (chiefly occa&s;ioned by having paid &s;o much Duty, or being obliged to give Security for it) is forced to &s;ell at under Rates and with lo&s;s to Engro&s;&s;ers and
<PB N="2" REF="2">
others, who not with &s;tanding the Prime Co&s;t and Duty to them is but 7 or 8 <HI>d.</HI> the Pound, do &s;eldom &s;ell it to tho&s;e that take it, for le&s;s than double that Sum, but oftner at treble as much: And when the Duty herein after Propo&s;ed &s;hall be in the manner herein Propo&s;ed &s;et on it, 'twill not be &s;en&s;ibly dearer to the taker than 'tis; 'twill not hinder the Con&s;umption, nor the Export, and the Merchant having this way not need of &s;o much Stock, or of being able to give Security for, as now he mu&s;t have to drive the Tobacco Trade, if he gets le&s;s by the Commo|dity, he however will make more <HI>per Cent.</HI> for his Money, 100 <HI>l.</HI> doing him the way following the Service of two.</P>
<P>To Demon&s;trate this, and what with ea&s;e is conceived may be rai&s;ed Yearly on the Tobacco Fond.</P>
<P>Note, The pre&s;ent Duty as afore&s;aid on Tobacco is <HI>per</HI> Pound 5 <HI>d.</HI> and that Duty has been computed worth in Peace to the Crown Yearly 250000 <HI>l.</HI> and this chie&s;ly ri&s;es by the home Con&s;umption, 4 <HI>d.</HI> &frac12; <HI>per <ABBR>lb.</ABBR></HI> being to be returned to the Importer on Tran&s;portation, and &s;o amounts not to much; but that part of the Duty <HI>(viz.)</HI> a half-penny <HI>per</HI> Pound when Exported may always continue, not with &s;tanding the new way of Taxing herein after Propo&s;ed, that having no relation to this, which lays the Duty only on the Con&s;umption at home, and hinders not Foreign Trade in the lea&s;t, nor does it create many Officers, nor can it be called an Exci&s;e as afore&s;aid. One Penny <HI>per</HI> Pound on the home Con&s;umption of Tobacco, reckon|ing 5 <HI>d. per</HI> Pound to bring in 250000 <HI>l.</HI> Yearly, will bring in 50000 <HI>l.</HI> Yearly; &s;o that it 3 <HI>d.</HI> more be laid on't, 'twill bring in, thus Reckoning, more than it does 150000 <HI>l.</HI> Yearly, being a Fond &s;ufficient to rai&s;e two or three Millions up|on; and if 4 <HI>d.</HI> &frac12; be laid, 'twill bring in half as much more, and &s;o be a Fond for in Proportion more Money; and if in&s;tead of 4 <HI>d.</HI> &frac12; there &s;hould be 7 <HI>d.</HI> to make it 12 <HI>d. per</HI> Pound Duty, the Commodity will bear it very well, and be a very good Fond for 300000 <HI>l.</HI> Yearly more than it now brings at lea&s;t.</P>
<P>The way Propo&s;ed to have this done with ea&s;e and convenience, and to Rai&s;e the Yearly Income or Revenue afore&s;aid, is<LB>
By making a Law, That,<LB>
<LIST>
<ITEM>1. All Tobacco Imported &s;&s;iould fir&s;t be unladen (as mo&s;t of it is) at either <HI>London</HI> or <HI>Bri&s;tol.</HI></ITEM>
<ITEM><P>2. That it be all lodged in Ware-hou&s;es to be prepared by the King for that purpo&s;e, and to be Lett to the Importer at ea&s;ier Rates than at any other Place at <HI>London</HI> or <HI>Bri&s;tol</HI> by them &s;hall be to be had; To which &s;everal Ware-hou&s;es each Owner of Tobacco and his Servants are always freely to come to take care of the&s;e Goods, and to &s;ell and di&s;po&s;e them in any manner they &s;hall think be&s;t; but before they go out of the Ware-hou&s;e, the Duty already &s;et on them, and what &s;hall be further &s;et, mu&s;t be paid or &s;ecured, as mu&s;t be pre&s;cribed by the Act to be paid or &s;ecured by the fir&s;t Buyer or Importer as they two &s;hall agree, but by one of them as afore&s;aid it mu&s;t be paid or &s;ecured before the Goods be let go from the Ware-hou&s;e, which a&s;certains the Duty for all Tobacco &s;pent in the Kingdom, and for what &s;hall be Exported upon payment of one half-penny (or rather nothing) if for Encouragement of that Trade it may be &s;o Enacted.</P>
<P>Note, The Owner may have liberty to take thence and Export his To|bacco, (the nece&s;&s;ary Cautions now u&s;ed to &s;ee that &s;uch Tobacco for which the Duty is required to be returned) and as the Law now &s;tands mu&s;t be, (if it be Tran&s;ported) being u&s;ed to &s;ee and prove that the Tobacco &s;o taken from the King's Ware-hou&s;e, having paid the half-penny Duty, be truly Tra&s;ported abroad.</P></ITEM>
<ITEM>3. And Note further, a Publick Sale for di&s;po&s;ing Tobacco by the Candle is propo&s;ed to be kept the &s;econd Week in each Month, both at <HI>London</HI> and <HI>Bri&s;tol.</HI></ITEM>
</LIST></P>
<P>For the Convenience of &s;uch as Import Tobacco, and without Paying any thing at the Landing, lay it up (as all mu&s;t be obliged to do) in Ware-hou&s;es provided for it by the King; where the &s;ame &s;hall be entred as 'tis landed in cour&s;e, and if not di&s;po&s;ed by the Owner before &s;uch day of Sale, as afore&s;aid, &s;hall (if he thinks fit) be &s;et up in cour&s;e by the Candle, at what Price he &s;hall &s;et on it, and &s;o Sold; And then the King's Duty being paid or &s;ecured, the Goods to be delivered.</P>
<P><PB N="3" REF="3">
And that the Kings Duty may be much more certain than now it is. <HI>Note,</HI> If the Importer neglects or refu&s;es to let his Goods be expo&s;ed to Sale, within the time to be allowed for paying the Kings Duty, or to pay and &s;ecure the Duty (which Duty being paid or &s;ecured, he may do as he will with his Goods.)</P>
<P>The &s;aid Goods &s;hall upon the next day of Sale, after the time for paying the Du|ty expires, be by the Kings Officers &s;et up and &s;old at the Candle, and on Receipt of the Money for which they &s;hall be Sold, the Kings Duty being fir&s;t taken out, the re&s;t &s;hall be paid to the Owner, who &s;o is not hurt in the lea&s;t. And be&s;ides</P>
<P>The Convenience of this way of Sale; 'twill be a certain and a great advantage to the fir&s;t Owner of the Goods, and the like to all &s;uch as &s;hall have occa&s;ion to buy; and that tho&s;e Per&s;ons that have occa&s;ion only for &s;mall Quantities, may this way be Convenienced, and yet at the &s;ame bidding be accommodated with a great Quanti|ty <NOTE PLACE="marg">&rindx;</NOTE> if they &s;o &s;hall think fit, It may be Ordered,</P>
<P>That every Man's Goods <HI>(viz.)</HI> Hog&s;heads of Tobacco, &s;hall be Numbred from I. to as many as he &s;hall think fit at once to Set up. And then,</P>
<P>The fir&s;t Hog&s;hed to be Set up by it &s;elf, with this, Declaration, That whoever buys it, may take as many of the &s;ucceeding Numbred Hog&s;heads of that Parcel at the &s;ame Price as he &s;hall think fit; So that he that will buy few, as well as he that would buy many, may this way be accommodated; and the Chapman before|hand having had the liberty to take what View he plea&s;es of the Goods, cannot this way be Impo&s;ed on, by having Hog&s;heads of Ill mingled with Good, having it in his Power to end buying at what Number he will, and this will make the Pro|prietor exceedingly careful, that each Hog&s;head in every Numbred Parcel &s;hall (as near as he can make them) be of Goodne&s;s alike, becau&s;e 'twill be his Intere&s;t &s;o to do; And every Buyer may (that being done) much &s;afer bid; So all will be this way for the Benefit of both Seller and Buyer.</P>
<P>Nor can the fir&s;t Owner of the Tobacco find any cau&s;e to complain of this &s;ort of Sale, being left to his Liberty (paying or &s;ecuring the Duty) to any otherwi&s;e di&s;po&s;e of his Goods that he can.</P>
<P>Nor can the Buyer complain of this way of Buying being left at his Liberty to <UNCLEAR>buy more or le&s;s, or any other way that he</UNCLEAR> can; so that Buyer and Seller being both at Liberty, the one to Sell, and the other to Buy as he can, there's none of this way will ever have ju&s;t cau&s;e to complain; And the Nation may be plea&s;ed by thus having the Publick &s;upplied with &s;ome Millions of Money, which may be done by To|bacco as before Propo&s;ed, without burthening the Subject, and without de&s;troying or le&s;&s;ening the Plantation Trade, but rather encrea&s;ing the &s;ame.</P>
<P>Now by what goes before, it being made evident that Tobacco may rai&s;e 300000 <HI>l.</HI> yearly yet more than it does. Note,</P>
<P>Every Penny laid on Tobacco being 40000 <HI>l.</HI> yearly, at lea&s;t, many believing it not le&s;s than 50000 <HI>l.</HI> yearly, an Act of Parliament may out of it make Fonds, as great or as &s;mall as they will.</P>
<P>And now at fir&s;t &s;uppo&s;e only 2 <HI>d.</HI> the pound Additional Duty, in manner afore|&s;aid laid on't, may produce 100000 <HI>l.</HI> yearly, and will yearly 80000 <HI>l.</HI> at the lea&s;t, which for the rai&s;ing two Millions, 'tis propo&s;ed &s;hould be Appropriated as &s;trict|ly, as the Revenue for the Bank is on Tru&s;tees, accountable to Parliament for the con&s;tant an&s;wering of 4 <HI>per Cent.</HI> once a Year, at <HI>Lady-day,</HI> or <HI>Michaelmas</HI> Intere&s;t, to &s;uch as &s;hall at that time yearly have Right to the Two Millions of Money, in proportion to every Man's Title thereto, and this Intere&s;t to always continue till Redeemed by Parliament, to which it mu&s;t ever be Subject.</P>
<P>And now to bring this 80000 <HI>l.</HI> yearly, into two &s;uch Millions of Money as may an&s;wer &s;o much of the Publick Occa&s;ions, and the &s;atisfaction and advantage of &s;uch as can have it, and be no Prejudice at all to the Crown, nor any Inconvenience to the pre&s;ent Revenue, nor to be &s;trongly Objected again&s;t by rea&s;on of the pre&s;ent Anticipations, which as this is Propo&s;ed to be put will never be hurt, nor the Per|&s;ons therein concerned (unle&s;s they de&s;ire it) be troubled with being this way to be paid, &s;uch Care being taken that very little of it, after once 'tis paid out &s;hall e|ver return to the Crown; and before 'tis paid out, being evidently better than any other &s;ort of the King's Pay, unle&s;s for Contradiction &s;ake, or its not being well under&s;tood, it cannot fail being approved of by all. The way follows:</P>
<P><PB N="4" REF="4" MS="y">
A way how to &s;upply the Kings Occa&s;ions with a Million of Money on a Fond of 40000 <HI>l.</HI> yearly, or with two Millions on 80000 <HI>l.</HI> yearly, which is at 4 only <HI>per Cent.</HI> without any prejudice to the King's pre&s;ent Revenue, or compul&s;ion to tho&s;e that &s;hall receive it, but rather a convenience to both; to do this 'tis Propo&s;ed,</P>
<P>That there &s;hould Bills, &s;ome of 100 <HI>l.</HI> &s;ome of 50 <HI>l.</HI> and &s;ome of 20 <HI>l.</HI> (as here|in after De&s;cribed) be Prepared, amounting &s;uppo&s;e to one or two Millions, and to be paid out by the King as &s;o much ready Money, to tho&s;e his Maje&s;ty has occa&s;ion to pay Money to, and are willing this way to receive it, with a Declaration (as you &s;ee the Pattern made for 'em) that they &s;hall be taken in payment, for either Excile or Cu&s;tom, for the Money they are given out at, and the 4 <HI>per Cent.</HI> Intere&s;t, &s;hall be paid to the Per&s;on po&s;&s;e&s;t of &s;uch Bills at <HI>Lady-day,</HI> or <HI>Michaelmas</HI> yearly, and the King as he pays them out, as 100. 50. or 20 <HI>l.</HI> &s;hall take them again as 100. 50. or 20 <HI>l.</HI> In &s;hort, as the King pays out Silver and Gold, and takes it again for ju&s;t the &s;ame as he paid it out; &s;o, and no otherwi&s;e he &s;hould take again the&s;e Bills <HI>(viz.)</HI> as 100 <HI>l.</HI> 50 <HI>l.</HI> or 20 <HI>l.</HI> as he paid them out.</P>
<P>Whence 'twill follow, that whoever comes to be po&s;&s;e&s;t of the&s;e Bills (having a running Intere&s;t of 4 <HI>per Cent.</HI> on them) will never pay them into the Exchequer, either for Cu&s;tom or Exci&s;e, if he can po&s;&s;ibly find other Money to pay it.</P>
<P>And to hinder the remaining long of &s;uch Bills in the Exchequer, it may be enacted, That (if payment of any of the&s;e Bills be made, as 20 <HI>l.</HI> 50 <HI>l.</HI> or 100 <HI>l.</HI> for Cu&s;tom or Exci&s;e) there &s;hall every Week be &s;et up in Writing at the Exchequer, Ex|ci&s;e and Cu&s;tom-hou&s;e. an Account of what &s;ums in &s;uch Bills remain there, with this Declaration Po&s;itive, that whil&s;t there are any &s;uch Bills remaining in the Ex|chequer, Exci&s;e, or Cu&s;tom-hou&s;e, whoever brings ready Money, that is, 100 <HI>l.</HI> for 100 <HI>l.</HI> 50 <HI>l.</HI> for a 50 <HI>l.</HI> or 20 <HI>l.</HI> for a 20 <HI>l.</HI> Bill, &s;hall not be refu&s;ed it, tho II <NOTE PLACE="marg">&rindx;</NOTE> Months Intere&s;t be due upon't, and the whole twelve to be Received by the Po&s;&s;e&s;&s;or of the Bill, the <HI>Lady-day</HI> or <HI>Michaelmas</HI> following: This will make the&s;e Bills 'twixt man and man much better than ready Money, having &s;uch Intere&s;t, till paid for Exci&s;e or Cu&s;tom, &s;till running upon them, and when paid into the Exchequer &s;o very advan|tagious to tho&s;e that &s;hall take them out, that the Kings Revenue in payment. will have very few of them. And being &s;o drawn that they <GAP DESC="illegible" EXTENT="1 word"> be C<GAP DESC="illegible" EXTENT="1 chunk"> and m<GAP DESC="illegible" EXTENT="1 chunk"> be proved true at the <HI>Cu&s;tom-hou&s;e</HI> if paid there, at the Exci&s;e Office if paid there, at the <HI>Cu&s;tom-hou&s;e</HI> at <HI>Bri&s;tol,</HI> and the other Places writ on them if paid there, and at the Exchequer when the Intere&s;t is paid, and a new Bill given there; as al&s;o for A&s;cer|taining the truth of &s;uch Bills; an Office like that of the Transfer may be Erected in <HI>London,</HI> for a Penny to Try and A&s;&s;ert the Validity of any &s;uch Bill, which be|ing &s;o ea&s;y A&s;certained, and having 4 <HI>per Cent.</HI> Intere&s;t (which is more than what the Bank Bills will have) running upon 'em, and it being ready Money to Mer|chants, when the Owner would part with it.</P>
<P>It is not to be doubted, but that this may to as much Satisfaction &s;upply the u&s;es of Money as either Bank Bills will, or Gold&s;miths Notes ever did, and be a Preju|dice to none, but a great, Convenience to many, and a Publick Good, by encrea&s;ing the Currant Money of the Nation, which the&s;e Bills without any Compul&s;ion, mu&s;t of cour&s;e and nece&s;&s;ity do, and may be for greater or le&s;&s;er &s;ums, as Fonds &s;hall be &s;ettled for it.</P>
<P>The form of the Bills, and how the Truth of them is to be Tryed, the following Print does demon&s;trate.</P>
<CLOSER><DATELINE><DATE>Nov. 16th. 1694.</DATE></DATELINE>
<SIGNED>Tho. Neale.</SIGNED></CLOSER>
</DIV1>
</BODY>
</TEXT>
</EEBO>
</ETS>
