Selected quad for the lemma: england_n

Word A	Word B	Word C	Word D	Occurrence	Frequency Band	MI	MI Band	Prominent
england_n	abatement_n	interest_n	stand_v	14	3	6.2765	4	false

Text snippets containing the quad

ID	Title	Author	Corrected Date of Publication (TCP Date of Publication)	STC	Words	Pages
A31146	A letter to a friend concerning usury wherein are mentioned all the arguments formerly written for and against the abatement of interest / collected out of four tracts on that subject, one by Sir Thomas Culpeper, Senior, in 1621, another by Sir Thomas Culpeper, Junior, in 1668, the third by Sir Josiah Child in 1668, and the fourth by Mr. Thomas Manley in 1669, by R.C.	R. C.	1690 (1690)	Wing C106; ESTC R35829	9,394	33

where Money brings Trade as it doth still in Spain But I found the Torrent was not to be stemm'd and so reserved my Purpose for a calmer Season By this time the War with Holland was begun and all Discourses silenced with the Sound of Cannon the Event whereof was neither so good as we sometimes hoped nor so bad as once we feared but compounded of strange Disappointments and Deliverances Of all which the most profitable Use we can make is this That though we prevailed sufficiently by Blows and Booties yet we were first wearied with the Expence And no marvel if we duly consider the vast disproportion of our respective Charges For 3 to 6 or 4 to 8 bears the same Analogy as 30 to 60 or 40 to 80. Now if the States by commanding Money at 4 per Cent. could in Building Rigging Victualling Paying c. do that for 40 l. which must cost His Majesty 80 l. and I wish he had Money so cheap I suppose the Forces being otherwise reasonably ballanced scarce any Goodness of Ships Valour of Seamen or Advantage of Situation and Ports will countervail such Odds. Some Months after the Peace was proclaimed presuming that our late Experience and present Exigence could not but conduce to my Design by disposing many who were averse to receive Impressions contrary to their former Judgments and affording me at least some Illustrations I went to London with full purpose to promote it but found my self happily prevented by one Mr. Child a Merchant of known Abilities in Trade and choice Conversation who rising as it were out of my Father's Dust did by his own Sagacity find out this hidden Vein and lighting afterwards by meer chance upon one of my Father's Treatises modestly reprinted it with its proper Date and annexed it to his own excellent Treatise entituled Brief Considerations concerning Trade and Interest of Money Whose honest Endeavours for his King and Countries Service I am bound to assist with my utmost Skill and Power and in pursuance thereof have composed this Tract which with all humility I present to your Wisdoms In a Post-script he takes notice of this Objection That since the Law of the Land has setled the Rate of Interest the Usurer has a Property by Law to Interest and it would be as much wrong to make a Law to abate Interest as to take away so much of the Rent of every Man's Land And such a Law would be a great Prejudice to Widows Orphans and others who live upon Interest and know not how otherwise to employ their Stock To this he answers That as to Orphans it can be no prejudice because as the Law of England now stands Executors are not obliged to pay Interest Secondly That there is no Property or Right to Interest by the Laws of the Land but the Right doth solely arise by the Covenant and Agreement of the Party Both by Ecclesiastical and Statute-Law Usury was counted unlawful and those Statutes that afterwards limited Interest to 10 8 and 6 per Cent. did only take away the Penalties from the former Statutes but did not make it more lawful By the ancient Canons of the Church the Usurers were in the same Condition with the Excommunicated They were denied the Sacraments disabled to make Wills and not permitted Burial in Church or Church-yard By the Statute of the 3 of H. 7. it was Ordained That all Usury should be extirpated By the 11 of H. 7. He that lendeth his Money upon Usury shall forfeit one half thereof The Statute made in the 3 of H. 8. takes off the former Penalties and limits Interest to 10 per Cent. but in the same Statute declares Usury unlawful In the 5 of E. 6. the Law of H. 8. was Repealed and it was then Enacted That no Person should take Interest upon the Penalties of losing the Principal be Imprisoned and Fined at the King's Pleasure In the 13 of Eliz. the Law of E. 6. was Repealed and that of H. 8. was reinforced But in that Statute Usury is called a Vice and a detestable Sin and provides That it may be punished by the Ecclesiastical Law The Statute in the 21 of King James the First by which Interest was reduted from 10 to 8 relates the great Mischiefs from high Interest and provides That no Words in the said Act should be construed to allow the Practice of Usury as to the Point of Religion The Law made in 1652. being the same with that of the 12th and 13th of Car. 2. which reduced Interest from 8 to 6 takes notice in the Preamble of the great Advantage to the Nation by the bringing down of Interest and restrains under Penalties the taking above 6 per Cent. but gives no more Legal nor Ecclesiastical Right than the former Statutes By this it appears that Usury was accounted a Crime so that the abating of it is but the lessening of the Sin and if there was any Right from those Laws it was very uncertain And how severe soever the Lowering of Interest from 6 to 4 per Cent. may be to Widows Orphans and Younger Brothers yet they will still have as much Rent for their Money as the Gentry and their Elder Brothers have for their Land for the Land of England does not yield more than 4 per Cent. The next Remarks are from Brief Observations concerning Trade and Interest of Money written as is supposed by Sir Josiah Child in 1668. Amongst the several Means which he recites for the promoting of Trade he concludes That a Low Interest is the chiefest and lays down this Position That the Abatement of Interest is the Cause of the Prosperity and Riches of the Nation and that the bringing down of Interest in this Kingdom from Six to Four or Three per Cent. will necessarily in less than twenty Years time double the Capital Stock of the Nation He proves this very clearly by several Arguments which will be too long to recite I shall therefore only mention two of his Instances First That where Interest is high the People are poor and Money scarce as to instance in Spain Scotland and Ireland where Money is at 10 and 12 per Cent. the Inhabitants are poor ill fed and clad though Ireland and Spain are both very fertile Countries and to the latter all the Gold and Silver of the Indies are brought and yet there is seldom any but Brass Money seen in the Country On the contrary in Italy and Holland where Money yields not above Three per Cent. the People are Rich full of Trade and their Land sells from Thirty five to Forty Years Purchase Secondly That by the several Abatements of Interest in England we have so increased in Riches that now 2000 l. is esteemed no greater Portion than 500 l. was Fifty Years ago and a Knight now exceeds a Lord of those days in rich Clothes Plate Jewels c. and that we have almost a hundred Coaches for one we had then And if Interest were lowered