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<DATE>2014-04-02</DATE>
<RESPSTMT>
<NAME>TCP Staff (Michigan)</NAME>
<RESP>MURP</RESP>
</RESPSTMT>
<ITEM>Proofed and reviewed as part of batch B140222.pdcc.</ITEM>
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<EEBO>
<IDG S="marc" R="UM" ID="B18157">
<STC T="W">B4756</STC>
<STC T="G">712.m.1[35]</STC>
<BIBNO T="umi">99886035</BIBNO>
<VID>186403</VID>
</IDG><!-- alt.stc G712.m.1[35] -->
<TEXT LANG="eng">
<BODY>
<DIV1 TYPE="petition">
<PB N="1" REF="1" MS="y">
<HEAD>To the Honourable the Knights, Citizens and Burge&s;&s;es, <HI>In Parliament A&s;&s;embled.</HI></HEAD>
<OPENER><SALUTE>May it plea&s;e your Honours;</SALUTE></OPENER>
<P>THE la&s;t Se&s;&s;ions of Parliament I pre&s;ented the Honou|rable the Commons in Parliament then &s;itting, with Propo&s;als for &s;etting up a <HI>National Land-Bank</HI> in favour of the Freeholders and Trading Part of the Kingdom, which the Scarcity and Badne&s;s of our Money, together with the ne|ce&s;&s;itous Condition of very many Freeholders of <HI>England,</HI> who were almo&s;t cru&s;hed with the Weight of high Intere&s;t and Taxes, did render nece&s;&s;ary to be done. And in order thereunto a Bill was brought into the Honourable Hou&s;e of Commons, and a con&s;iderable Progre&s;s was made therein by the Committee, but for want of Time the &s;ame was not reported.</P>
<P>I thereupon fully determined not to proceed any farther in what I de&s;igned until I had Authority from your Honours for my &s;o doing: but &s;ome Gentlemen &s;o &s;oon as the Parliament was prorogued, formed the Model of a Bank out of my Book, which I pre&s;ented that Honourable Hou&s;e, intituled, <HI>A Di&s;cour&s;e on the late Funds,</HI> which they chri&s;tned by the Name of <HI>the Land-Bank,</HI> but excluded the Freeholders from the Benefit I intended them; and propo&s;ed no le&s;s Profit than 30 or 40 <HI>per cent. per annum,</HI> among a few Money-Sub&s;cribers. I thereupon laid open my Books of Sub&s;criptions for Land and Money for <HI>a Fund for a National Land-Bank;</HI> to which &s;everal Noblemen, Gentlemen, Merchants and others, have &s;ub&s;cribed a con&s;iderable Value. And upon the &s;everal Prorogations I con&s;tantly attended that Honou|rable Hou&s;e, to lay before them what from time to time was done therein.</P>
<P>As in Duty bound, I come now to lay the &s;ame before this Honourable Hou&s;e, as it is calculated not only for the Advantage of Trade, but al&s;o for the Benefit of the Freeholders, who have all along been contributory to the Taxes for carrying on the War, and Support of the Government, and who have not met with the promi&s;ed A&s;&s;i&s;tance from the Bank of <HI>England.</HI></P>
<P>I humbly reque&s;t your Honours Countenance and A&s;&s;i&s;tance therein, and beg leave to &s;ub&s;cribe my &s;elf,</P>
<CLOSER><SIGNED>Your Honours mo&s;t Humble and mo&s;t Obedient Servant, <HI>JOHN BRISCOE</HI></SIGNED>
<DATE><HI>Decemb.</HI> 2. 1695.</DATE></CLOSER>
</DIV1>
<DIV1 TYPE="account">
<PB N="2" REF="2" MS="y">
<HEAD>A &s;hort ACCO&V;NT of the <HI>National Land-Bank.</HI></HEAD>
<P>THere are E&s;tates &s;ub&s;cribed by &s;everal Noblemen, Gentle|men, and others, to be &s;ettled in the &s;aid Bank, to the Value of above 200000 <HI>l. per annum,</HI> which E&s;tates are to be &s;et|tled in order as they were &s;ub&s;cribed.</P>
<P>Every Per&s;on who &s;hall &s;ettle his E&s;tate in the &s;aid Bank, may have Money upon &s;uch his Settlement to the Value of three fourth Parts of &s;uch E&s;tate, at 3 <HI>l.</HI> 10 <HI>d. per cent. per annum</HI> Intere&s;t, and may repay the &s;ame or any part of it whenever he plea&s;es.</P>
<P>No Gentleman nor his E&s;tate is to be chargeable, or &s;tand char|ged for more Money than what he him&s;elf &s;hall take up of the Bank, without his Con&s;ent.</P>
<P>Such Sub&s;cribers of Land who will &s;ubject their E&s;tates to bear a proportionable Part of all Lo&s;&s;es, &s;hall have a propor|tionable Part of the Profit of the Bank; and the fir&s;t 200000 <HI>l. per annum</HI> &s;ettled upon tho&s;e Terms is to be the Fund of Land for &s;ecuring the Bills that &s;hall be i&s;&s;ued out by the Bank.</P>
<P>To circulate the Bills of the Bank a Million of Money was pro|po&s;ed to be rai&s;ed by Sub&s;criptions, payable one tenth Part every Quarter, whereof 650000 <HI>l.</HI> is &s;ub&s;cribed.</P>
<P>The Sub&s;cribers of Money are to have 3 <HI>l. per cent. per annum</HI> paid them for their whole Money &s;ub&s;cribed, to commence from the 10th of <HI>October</HI> la&s;t, and a proportionable Part of the Profits of the Bank with the Land-Sub&s;cribers. And in regard no more than 1500 <HI>l.</HI> can be lent upon 2000 <HI>l.</HI> Value in Land, 1500 <HI>l.</HI> in Money is admitted equal in Profit and Lo&s;s with 2000 <HI>l.</HI> worth of Land.</P>
<P>There are to be two General Meetings of the Sub&s;cribers or Per&s;ons intere&s;ted yearly in the Months of <HI>June</HI> and <HI>Decem|ber.</HI></P>
<P>The Management of the Bank is propo&s;ed to be in 37 Di|rectors, 36 of which are to be annually cho&s;en by the major Part of all Per&s;ons intere&s;ted in the Bank, and are removable at any time for Mi&s;demeanor.</P>
<P>The Directors, or any Number of other Per&s;ons intere&s;ted in The Bank to the Value of 50000 <HI>l.</HI> in Land or Money, may call a General Meeting when they plea&s;e.</P>
<P>The Accounts of the Bank are to be made up every half Year, and laid before every &s;uch General Meeting for their Peru&s;al.</P>
</DIV1>
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