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B01982 A proposal and considerations relating to an office of credit upon land security: proposed to their excellencies the Lords Justices: and to the lords of the Privy Council, and Parliament of Ireland. / By Dr. Hugh Chamberlen. Chamberlen, Hugh, fl. 1720 .; England and Wales. Lords Justices.; England and Wales. Privy Council.; Ireland. Parliament. 1697 (1697) Wing C1879A; ESTC R233230 8,355 32

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A PROPOSAL AND CONSIDERATIONS RELATING TO AN Office of Credit UPON Land Security Proposed to their Excellencies The Lords Justices And to the Lords of the Privy Council AND Parliament of Ireland By Dr. HVGH CHAMBERLEN London Printed and Sold by T. Sowle in White-Hart-Court in Gracious-street and at the Bible in Leaden-hall-street near the Markt 1697. A PROPOSAL AND CONSIDERATIONS Relating to an Office of Credit upon Land Security c. 1. Consideration WHEREAS It is most evident that a wise and large Establishment and a continued Course of Considerable Trade is a sure way whereby any Nation Capable of it may attain to Honour Wealth and Power Because That thereby will arise First A great Increase of Money which answereth all things Secondly An Increase of People which is the Strength of any Kingdom or State and who do always gather to those Places where Money is in abundance And Thirdly An Increase of Shipping which is the strongest Rampart of an Island and by which Merchandise is Conveyed to the most Profitable Market It is therefore the undoubted Interest of the People of Ireland especially those who have the greatest Estates whether of Land or Money to Imploy themselves to the Improvement of Trade as universally as is possible And it is Humbly Conceived that this Proposition needs no other Proof or Illustration than what plainly arises from the Observation of those many and great Advantages derived from Trade to the Kingdom of England the States of the United Provinces and all other Kingdoms and States that have applied themselves to Commerce 2. Consideration The Kingdom of Ireland is as Capable of making Advantages by Trade as any other Kingdom or State being Surrounded with good Sea-Ports upon all its Coasts and having a very Great and Profitable Subject of Trade proper to it The Land affording Grain Cattel Wool Flax Coal Salt Copper Iron Lead and other Native Products besides the Fishing of the Rivers Loughs and Seas This Kingdom hath likewise great Numbers of People either not Imployed or not so fully and profitably as might be and hath also such a Provision of Shipping as may serve to begin a Trade and may soon be Increased if a greater Trade be set up The Truth of this Consideration will appear by Comparing the Particulars therein Contained with those of the United Provinces where the proper Subject of Trade comes very far short of that of this Kingdom Which Provinces from very small beginnings and under the Discouragement of a War with Spain at that time the most Potent Kingdom of Europe have yet raised themselves within a short Period of Years to that Immense Wealth Grandeur and Power that now they possess and have acquired it chiefly by their Trafficking in those Subjects of Trade which properly belong to this and other Nations 3. Consideration The People of this Kingdom who have had Liberal Education are generally in all Countries allowed to be of sufficient Ingenuity and Diligence and the Commons being Docil and Tractable and likewise Robust and Vigorous of Body and sufficiently inclined to bestow their Labour where there is Prospect of moderate Gain and being hitherto accustomed to small Wages It may justly be Concluded that no People in the World are Naturally more fitted or better qualified for setting up manageing and prosecuting a Great and Considerable Trade 4. Consideration It is most certainly true in Fact nor can it be unknown to the Intelligent in this Nation that the greatest Tradings in the World are carried on not so much by the Species of Money which is in Stock and Cash as by a great Credit attained to by Means partly of their Visible Subject of Trade partly of their Pains and Application to Traffick but most of all upon account of the Reputation and Opinion of the great Profits made in the Course of a Prosperous Trade even where the Native and Proper Subject of Trade keeps no Proportion with the Trade carried on as it is in the United Provinces where Credit is the chief Instrument of their Commerce and that Credit raised upon a Fund more of Opinion or Reputation than real If therefore in this Kingdom the want of a Sufficient Stock of Money for the carrying on a great Trade can be made up by a Credit grounded upon a more Real and Substantial Fund than the Credit of any other Nation either at present is or probably can be founded upon then certainly it will most reasonably follow that this Kingdom is rather more capable of carrying on Great and National Trades than most other Kingdoms or States in Europe 5. Consideration The Titles and Tenures of Estates especially Land Estates in this Kingdom being well known Sure and Stated and with sufficient ease and certainty Examinable by reason of the Records here in use and that the Titles are Dependant on late Acts of Parliament and an evident clear and firm Security upon Land being the best and most substantial Fund of Credit this Kingdom is Capable in this respect to raise a Credit sufficient for Improving to the uttermost the great Subject of Trade that now it unprofitably Possesses and this Credit as far to exceed that in practice with other Nations as a real Solid and Permanent Fund exceeds those of Opinion and Reputation for such all those of other Nations will be found to be when duly weighed with that hereby Propounded for this Kingdom Upon these Considerations which may so justly be Presumed to Induce the Right Honourable the Lords Justices and Council and the Lords and Commons of Parliament in Ireland to receive and examine a Proposal that renders to this Kingdom the certain and effectual Means of so great Wealth and Honour The said Dr. Hugh Chamberlen Humbly Offers to their Wisdom A PROPOSAL for Establishing a Solid National and Current Credit upon Land for the Kingdom of Ireland viz. THat an Act of Parliament proper to such an end do pass in this Kingdom of Ireland to enable to Issue Credit upon Land in a Method and Regulation ready to be therefore tendered That this Credit be made Current in all Payments to and from this Crown and to and from all other Persons and Bodies Corporate or Politick and that Payment or Tender in this Credit be to all Intents and Purposes as good as if made in the usual Species of Money and that all Bargains Contracts and Agreements tending to impair the Currency of this Credit so as to reduce it beneath a Par with the usual Species of the common Current Money be null and void and the Contractors Fineable in the Kings Courts one half to the King and the other half to the Prosecutor That the Lords Justices together with about Eight or Ten other Noble Men or other Persons of Quality may by the said Act be appointed Noble Visitors to Inspect and Prevent any Damage by Mis-management to the King and Country That the Constitution and Establishment of this Office of Land-Credit do consist of three chief