<!DOCTYPE ETS PUBLIC "-//UMDLPS//DTD EEBOPROOF 2.0//EN">
<ETS>
<TEMPHEAD>
<REVDESCR>
<CHANGE>
<DATE>2014-08-12</DATE>
<RESPSTMT>
<NAME>TCP Staff (Michigan)</NAME>
<RESP>MURP</RESP>
</RESPSTMT>
<ITEM>Proofed and reviewed as part of batch B140633.pdcc.</ITEM>
</CHANGE>
</REVDESCR>
</TEMPHEAD>
<EEBO>
<IDG S="marc" R="UM" ID="B28427">
<STC T="W">P3689</STC>
<STC T="G">816.m.10[9]</STC>
<STC T="C">R224657</STC>
<BIBNO T="umi">99885569</BIBNO>
<VID>185333</VID>
</IDG><!-- alt.stc G816.m.10[9] --><!-- alt.stc Cr224657 -->
<TEXT LANG="eng">
<BODY>
<DIV1 TYPE="proposal">
<PB REF="1" MS="y">
<HEAD>A Propo&s;al for a Sub&s;cription to Rai&s;e <HI>One Hundred Thou&s;and Pounds,</HI> For Circulating the Credit of a Land-Bank.</HEAD>
<P>THIS &s;hort Experience, &s;ince the Bank of <HI>England</HI> has bee<GAP DESC="illegible" RESP="KEYERS" EXTENT="1 letter"> &s;et up, has &s;ufficiently di&s;covered the great Advantage from it, to the Government and Trade, by Lowring the Intere&s;t on Tallies, Bills of Exchange, and Money on Goods, which &s;eems the Bu&s;ine&s;s of the Bank.</P>
<P>And on the contrary, the Prejudice from it to the Owners of Lands and Hou&s;es, doth as plainly appear; For the Cur|rent of Money being &s;o greatly turned into the Bank, has made it Difficult to Supply real Securities with Money; and hath thereby Rai&s;ed the Intere&s;t upon them, and Sunk the Values of Lands.</P>
<P>This ill Effect cau&s;ed a general Clamour of the Landed Men of <HI>England;</HI> Which to Pacifie, An Order from the Directors of the Bank was publi&s;hed in the <HI>Gazett,</HI> That they would Lend Money on Land.</P>
<DIV2 TYPE="reasons">
<HEAD>The Rea&s;ons that might Divert them, &s;o as to do Little in it, might probably be The&s;e:</HEAD>
<P><HI>Fir&s;t,</HI> That the Directors being Merchants, and Traders, and not Acquainted with the Titles and Values of Land, might not be &s;uch proper Per&s;ons to deal in them.</P>
<P><HI>Secondly,</HI> That the Money Lent on Mortgages &s;eems Difficult, and &s;low in Returning. And <HI>La&s;tly,</HI> The Profit &s;eems Small.</P>
<P>Upon the Con&s;ideration of the Fir&s;t, The Authors of the Settlement <GAP DESC="illegible" RESP="KEYERS" EXTENT="1 word"> the Land Bank, found it ab&s;olutely nece&s;&s;ary, <GAP DESC="illegible" RESP="KEYERS" EXTENT="1 letter">hat the Majority of the Governours &s;hould at the Fir&s;t Settlement be Lawyers, who&s;e Study and Practice have made them more Acquain|ted with the Titles and Values of Land.</P>
<P>And therefore the De&s;ign of the Settlement is, That Ten Gentlemen of the Bar, that Sub&s;cribe, and pay down the Sum of Money in manner as hereafter is expre&s;&s;ed, &s;hall be Ten of the Fir&s;t Governours of the Bank.</P>
<P>As to the two latter Rea&s;ons, That the Money lent on Land will be difficult and &s;low in Returning, and of &s;mall Profit; they mu&s;t be an&s;wered by the methods in the Settlement and Experience thereupon to the contrary: By which it will appear, That Money lent on Land may be as ea&s;ily and quickly Returned, as Money on Goods or Bills of Exchange. And as for the Profit of this Bank, if it be con&s;idered as Rent on Land, and that Twenty Shillings in Rent is equal to Twenty Pounds in Money; this 100000 <HI>l.</HI> Stock may perhaps at the Years end make up the Account of Profit equal to a much greater Sum in other Stocks.</P>
<P>And be&s;ides the Profit, the Sub&s;cribers will hereby le&s;&s;en the Intere&s;t of Money on Land, as much, if not more, than the Bank of <HI>England</HI> has done it on Bills of Exchange or Goods, and will rai&s;e the Value of all the Lands of <HI>England,</HI> and thereby pre|&s;erve many Families of the Nobility and Gentry from Ruin.</P>
</DIV2>
<DIV2 TYPE="proposals">
<HEAD>The PROPOSALS are:</HEAD>
<P>THAT no Per&s;on Sub&s;cribe le&s;s than 100 <HI>l.</HI> nor more than 5000. of which 20 <HI>l. Per Cent.</HI> is to be paid down as &s;oon as 30000 <HI>l.</HI> is Sub&s;cribed, and the Re&s;idue as the Governours of the Bank &s;hall call for it; with a Rebate of Intere&s;t for the &s;aid 20 <HI>l. per Cent.</HI> till the whole 100000 <HI>l.</HI> be Sub&s;cribed.</P>
<P>That every Per&s;on that Sub&s;cribes, &s;hall have One Vote in Choo&s;ing the Governours, and no Per&s;on more than Ten.</P>
<P>That the Governours are to be One and Twenty, and cho&s;en Yearly; and that every Per&s;on that Sub&s;cribes 1000 <HI>l.</HI> is capable of being Cho&s;en one of the Governours.</P>
<P>There are other particulars in the Settlement, too large here to In&s;ert; and therefore for the &s;atisfaction of tho&s;e that &s;hall Sub&s;cribe, the whole Settlement is Tran&s;cribed in the Sub&s;cription-Book for any Gentleman to Read, if he plea&s;eth, before he Sub&s;cribes.</P>
<P><HI>The Sub&s;cription-Book lyes Open, at the Chamber over the</HI> Stamp-Office <HI>in</HI> Lincolns-Inn, <HI>and will continue there till the Sub&s;criptions are Compleated.</HI></P>
</DIV2>
</DIV1>
</BODY>
</TEXT>
</EEBO>
</ETS>
