each County each County having a Different Seal and the Clerks of the Post and Market-Towns of the same County having like Seals with the Clerks of the same County in the Grand Chambers of London to be kept by them with Numbers in their Books of All Returns from Place to Place with the Indentures I suppose it may make it easy to be Adjusted on all sides And the Directors of the Grand-Chambers in London may with ease Inspect All the Returns which shall be made by the Country Chambers 2 dly I Presume no Person Questions the Numbers of Souls supposed to be in England Wales c. but rather that they may be more taking Infants to be included in the same All which help in the Consumption of Goods that shall be bought and sold and Transferred from place to place throughout the Kingdom 3 dly and 4 dly ALL Dealers in any Town Carriers Haglers c. are to be Prohibited Travelling the Road with Money more than will defray their Travelling Charges as I intimated in my first Paragraph except such petty Chapmen who shall Travel the Country thirty or forty Miles round in order to buy up Goods as Wooll c. buying two or Three Todd in one place and three or four in another where they can meet with them For it is not to be imagined such Chapmen as these shall have their Moneys remitted by reason of the great uncertainty in what place they shall buy their Goods But my meaning is That such Persons who bring their Goods to a Certain Town or Market selling them for considerable Sums and such Persons who shall carry their moneys to a Market or Fair to Buy with As for Example A Person living at Exeter or any other place hearing of a parcel of Wooll to be sold at Northampton or any other place Cross the Country though far remote The said Party paying the moneys he intends to lay out into the Chamber of the Town aforesaid the Clerk of that Chamber sending up the Advice-Indenture to the proper Clark of the said County He shall Remit the moneys to the Chamber of the said Town with as much Expedition as the Post can make And in like manner may all Gentlemens Rents or moneys for Portions and Purchases be Transmitted throughout the Kingdom AND what shall be wanting in the Country Chambers let care be taken by the Chief Chambers in London to send down with all imaginable speed and so having a due Correspondence each with the other they may easily perceive what stock each and every Chamber in the Country hath by them so that by returning New Monies for Old they may keep an exact Ballance on all occasions in all places and at all times throughout the Kingdom during the time our Old Money shall be Re-Coining or longer if it shall be so approved on and thought requisite by which means each Town may have a Bank of money by them which as I conceive will be no small Increase of Riches throughout the Kingdom causing all Manufactories to flourish much more than hitherto they have done the failure of which is thought to be for want of monies among them which has occasioned many Country People to try their Fortunes in London where money is more plenty which hath much depopulated the Country thereby damnifying very much both Gentlemens Estates and done great injury to all manufacturies FURTHER There are several Principal Towns and places of Trade as Exeter Norwich Colchester Hull Leeds c. wherein the Goods are bought by the Inhabitants of the said places and there vended which monies with the Kings Revenues being paid into the Bank of the said places must inevitably be equivolent to the manufuctures made in the said Towns and vended else-where For suppose each of those do vend and make great quantities of Woollen manufacturies being the Staple Commodities of the Kingdom the more they make the better being the greater number of People must be imployed therein And we find by experience That by the Wisdom and Providence of God Noblemen Gentlemen Shopkeepers Merchants c. are so promiscuously inter mixed in Towns and Villages among Handicrafts being subservient one to another as different members of one and the same body and supposing there are Twenty or Thirty Thousand Souls in each Town or place These must all be Fed and Cloathed with all things according to their several Ranks and Qualities and by consequence must Trade in Linnen Woollen Silk c and in all Grocery Wares Wine Oyl Tobacco Iron Lead Tin Copper Glass c. and in all sorts of Grain Cattle Fruits Dyes and Druggs without which no place can well subsist Now let the Traders of the said Towns and Villages nigh adjacent pay into the Banks of the said places all the monies they shall receive for the Goods vended by them The prime cost of all such Goods consumed together with the Money Collected for Excise the Land Tax and Customs being paid into the next Chamber or Bank in or nigh the place must make a sufficient Fund of Monies in all the Banks of each County Town or City to answer all Goods and Manufactories that shall come out of the Countries being the prime Cost of materials are allowed for But if any Merchant or Dealer suppose the Manufactures made in the Countries and sent abroad are of greater value than the prime Cost of Goods that are bought and consumed in the Countrys I beg to know how it happens That such Town or Country has not gain'd the greatest part of the Kingdoms Wealth which if any person satisfies me in I shall look upon all my pains and serious thoughts about this Project to be vain imaginations and shall desist further to urge it AND further I conceive it will be the interest of all Country Gentlemen and Traders to lodge what Moneys they can spare from their immediate occasions in such Chambers of Strength and Security so set apart by the Chief Burghers of each Town where it may remain in order to have it Exchanged in its turn for New with their security for the same to be forth coming upon demand And so soon as the KING's Money shall be paid into any of the said Chambers in the Country it may be drawn off here from the Chief Chambers in London at the pleasure of the Lords of the Treasury I have been the more prolix in order to explain and rationally to prove my Propositions laid down in the Third and Fourth Paragraph which I hope will be rightly understood 5thly WHEREAS at the Common rate of Coinage it may be some Years before All the abused Cash of the Kingdom may be Re-Coined It makes me suppose that Forty thousand pounds will be a sufficient Fund to carry on this Work But if this Honourable House thinks fit to have it done with more speed it will be a sufficient Fund for a Credit to carry on the Work more expeditiously which I humbly conceive
To the HONOURABLE the Commons of England Assembled in Parliament PROPOSALS Humbly Offered to Raise Five Hundred Thousand Pounds per Annum to make Good the Adulterated and Defaced COIN of this Kingdom without hurting the Subject by drawing it from all parts of the Kingdom Dominion of Wales c. which will not only be a great Conveniency to all manner of Traders Gentlemen and others but also mightily Propagate and Increase Dealings of all kinds This I humbly conceive may be done without great Difficulty by taking the Methods following And I hope to Answer rationally all the Objections which may be Offered against it The Proposals take as follow Viz. WERE there Four Grand Chambers of Accompts Erected in London being the Metropolitan City of the Kingdom to answer all Counties in England Wales c. and those nominated the Principal or Grand Chambers of each County or Division and let them have power to fix a Petty Chamber in every Post-Town or Town of Trade throughout the Kingdom c. Providing for every Principal or Grand Chamber a Different Stamp with Numbers to be kept with every Petty Chamber so fixed as aforesaid And let all Gentlemen Carriers Chapmen and Hagglers be strictly Prohibited from Travelling with any Sum or Sums of Money more than to Defray their Travelling Charges But so often as occasion offers let each and every Person pay such greater Sums of Money into any of the Chambers from whence it may be Remitted to any place as desired with as great Expedition as the General Post can reach it The party having his Money so Remitted paying for the same Three Pence per Pound or something more or less according to the distance of place from whence it shall be so Remitted Secondly IT is supposed by common Computation there are Six Millions of people in the Kingdom of England Dominion of Wales c. which if so they cannot subsist one with another for less Charge in Meat Drink and Apparel than Seven Pounds per Annum each person which amounts to Forty Two Millions Yearly expended in the way of Trade and Commerce which at Three Pence per Pound Annually paid for such Returns or Transmittances of Money as aforesaid amounts to the Sum of Five Hundred Twenty Five Thousand Pounds per Annum besides the large Sums that are expended in a Year for Houshold Goods Plate Jewels c. Thirdly SUPPOSE a Merchant or any other Trader or Dealer sells his Goods Cattle or Wares in any part of the Kingdom c. receiving his Moneys for the same being the Sum of a Thousand Pounds more or less he or they paying such Sum or Sums into the Chamber next adjoyning may have it remitted to any part without running any Hazard paying into the said Chamber for the same the Rate of Three Pence per Pound more or less according to the distance of place from the said Chamber and upon payment of his Monies into the said Chamber he shall receive a Bill of Return indented the Office or Chamber filing another of the same Date and a third so agreeing with the two former shall be sent to the place where he intends to receive his Moneys with advice to pay the same to the said party or his order upon sight of the parties Bill so mentioned making such payment in good Currant Coin of England and upon payment thereof to give his Receipt indorsed upon the said Bill for so much Moneys as the said Bill expresses to be due by which means every Petty Chamber may be able to adjust his Accompts with the Grand Chambers of London as often as they shall be required to do the same Fourthly AS to the Furnishing the said Chambers with Cash sufficient to answer such Ends I presume the Moneys Collected for the King's Tax The Excise and other Moneys already Charged and to be Charged by Act of Parliament with Moneys payable for all manner of Goods or Commodities through the Kingdom in parts remote being paid into the said Chambers in each Town or County as aforesaid in order to be Remitted to other parts of the Kingdom may as I humbly conceive answer the ENDS Proposed with all Objections that shall be made against it Fifthly WHEREAS it is thought the Mint cannot Coin above Twenty Thousand pounds per Week there will be some Years before the Cash of the Kingdom c. can be Re-Coined NOW I conceive that Forty Thousand pounds will be sufficient Fund to begin this Vndertaking each Chamber in London signifying to their several petty Chambers throughout the Kingdom c. to send up to London all the Large Moneys they can pick out of their Cash in order to have it Exchanged at the Mint for MIL'D MONEY So that the Mint may by kept in Full Employ of Coining and New Money from time to time shall be Transmitted back or otherwise paid to the Proprietors of the Old where they shall desire it which will make the first Years Coinage to sustain no great Loss The second Year not much more and the Third not much greater than the precedent So that the Profits in the Stock of this Bank will not much lesson the first year possibly something more the second and not much more the third From whence I Conclude There may be a sufficient Fund to Answer the Loss of all the abused Cash which I take to be little less than Two Millions Sixthly FROM all which I humbly conceive That by this Method in a reasonable time the Cash of this Kingdom may be wholly Re-Coined Trade and Commerce highly advanced Gentlemens Estates much improved besides the Conveniency of having their Rents safely and quickly Transmitted them to any part of the Kingdom remote the great loss of many by High-Way-Men totally prevented the Post-Office much advanced and many more accrewing Benefits and Advantages to the Government and Subject produced than can at present be seen into and too large here to Enumerate And supposing the Mint shall be able to Coin Forty thousand pounds per Diem Care may be taken to supply the Mint with old moneys or Bullion that if possibly so much can be Coined in the time all may be Compleated in a Year or two at the furthest from the time Offices or Chambers of Accompts shall be so fixed as aforesaid NOW rationally to prove the same in every part and to make the whole Matter more plain and easy to be Understood by the meanest Capacities of all Traders and Dealers of what kind soever who will be Accomodated in such manner as is before proposed I shall endeavour to demonstrate how the same may be done with ease as may be observed by the Methods following viz. 1 st SUPPOSE the Four Grand-Chambers so Erected in London be substituted for Four Divisions viz. East West North and South and so Dividing the Post and Market-Towns into four Divisions throughout the Kingdom of England and Wales c. placing Clerks in each Chamber of London Distinctly for
will be more for the Interest of the Kingdom being the longer it shall be Re-Coining the more it will be Clipt and Adulterated 6thly I humbly conceive it may be highly improved in like manner as the Post-Office has been since the first Establishment thereof which will conduce much to the good of Trade both in City and Country For if A. B. or C. suffer for not having Returns of Money according to expectation or desire certainly the greater part of the Alphabet must sensibly Feel it one way or other But this Method being taken It must by consequence lessen the Interest of money highly advance Lands increase in incom of the General Post-Office and preserve many Mens Lives who frequently Suffer by the Hands of Justice having so many opportunities of Clipping and Committing Robberies which has much lessoned the Number of People in this Kingdom who might have been useful to the Government and more especially during this time of War Lastly This I humbly conceive if approved on by His Majesty and the Honourable Houses of Parliament may be worth Five hundred thousand pounds per Annum or more without hurting the Subject as I have set forth in the Preamble paying no more for their Returns of Money than they commonly now do upon occasion of such Returns by Carriers or otherwise Therefore the Terms in my Propositions being so easy and the Service of so great value I hope no Man can rationally Grudge at obtaining so great a Benefit by it in having their Moneys made full Weight and Currant without any scruple c. AND seeing the Bank of England has been Approved of by the Nation in general I would not propose the Setting up of these Chambers in every City or Market Town could I imagine it any way prejudicial to so worthy an Undertaking But these being only intended for making Good the Adulterated and Abused Coin of the Kingdom by observing such Methods as I have before laid down I cannot perceive wherein they can any way Prejudice that Great Bank And this being Proposed for the Publick Good I hope it will not be Postpon'd but rather meet with that Encouragement from the Government as may render it Useful for the Matter intended which will not only be a Great Benefit but also a Great Honour to the Kingdom in having it's Coin such as may be Taken without Exceptions These are my present Thoughts about the Matter which I hope may be Candidly Received to my Encouragement for the Great Pains I have taken about it which if it so happen I shall PROPOSE another Method for Raising Ten Hundred Thousand Pounds worth of Bullion which shall be Affected in as little time as the Chambers can be fixed So that the WORK may be carried on with Ease and Expedition And I hope the Objections that may be raised against my Proposals are so Rationally Answered as with Ease to be vnderstood relating to the Re-Coining of the Cash the Advance of Trade the Improvement of Estates the safe and quick Transmittances of Rents and the Benefit accrewing to the Post-Office c. In which if I am mistaken I humbly submit to the Great Wisdom of this Honourable House to Pardon me herein and to Accept of my Sincere though weak Endeavours for the Publick Good and beg leave to Subscribe Your HONOVRS most Humble and most Submissive Servant Daniel Beeckman England including Wales divided into Four equal parts viz. Northern Midland Southern and Western THE NORTHERN to be Northumberland Bish of Durham Cumberland Westmoreland Lancashire Lincolnshire Yorkshire Nottinghamshire Derbyshire and Staffordshire THE MIDLAND to be Worcestershire Warwickshire Leicestershire Rutlandshire Northamptonshire Oxfordshire Buckinghamshire Bedfordshire Middlesex Huntingtonshire Cambridgeshire Hartfordshire Norfolk Suffolk and Essex THE SOUTHERN to be Kent Surrey Sussex Southamptonshire including the Isle of Weight Guernsey and Jersey Wiltshire Barkshire Dorsetshire Sommersetshire Devonshire and Cornwal THE WESTERN to be Wales Monmouthshire Herefordshire Gloucestershire Shropshire and Cheshire December the 12th 1695. DEbtor intrusted to my Care A. B. Clerk of the Chamber of Exon. 1000 I. by C. D. Clothier of the same Town to be paid in London on sight of the Party's Bill matching with the Advice-Indenture sent you December the 12th 1695. REceived then of C. D. of Exon. Clothier the Sum of 1000. l. with Poundage for the Return made payable by you E. F. Clerk of the said County in London drawn by me Debter to you for the same as Witness my Hand and Seal the day and year first above-written A. B. Nam Yna ot Gnorw on od THis Advice-Indenture sheweth the Check of a Bill drawn by me A. B. December the 12 th 1695. for 1000. l. to be paid by you E. F. agreeing with Number and Check and place your self Creditor to me for the same Do no Wrong to any Man The WORD c. 1. IN the main Design of my Proposals no difficulties attend them for it will be a great Ease to persons Travelling the Road to forbear carrying Sums of Money along with them when they may carry a Bill which will procure them what Sums they desire to receive in any part of the Kingdom 2. AND if this Honourable House will be pleased to Prohibit the Exportation of all manner of Bullion and set a price thereon putting a stop to its further rise during the time of Coinage the work may begin and Five Shillings worth of Silver may be put in a Crown-piece and so proportionable in lesser pieces allowing only for Coinage as is usual By which means will be made plain Two Misteries First THE reason why Gold and Silver have risen so high Secondly THE cause of Bullion being so scarce AS to the First All Goldsmiths and Refiners will be Obliged thereby to send their Silver Bullion to the Mint in order to have it Coined as of late they have done their Gold which should they not do it will not be worth their time to give the full rate so set as those Chambers of Accompts may for the Nations Benefit AS to the Second If the said Goldsmiths and Refiners shall omit sending their Bullion to the Mint as aforesaid then it will plainly appear they send to Foreign Parts to buy up Gold thereby to make an extraordinary Profit which may in some time much lessen the Stock and Wealth of the Kingdom being the Bullion or Coin in silver so exported exceeds the worth of Gold imported which I take to be the cause why Guineas have risen to so great a Value and the reason of such scarcity of silver BVT Persons may Object should the Exportation of Bullion be Prohiited how shall the Army abroad be paid during the present War being be soldiers must have silver either in Bullion or Coin without which they â—annot subsist Ans With all humble submission to this Honourable House I conceive the Kingdom of England Dominion of Wales c. are blessed with as many
useful and staple Commodities as are in any parts of the world viz. Wool Lead Tin Leather Shoes Boots Stockings and many more too large to enumerate And being neither Bullion nor Coin can be eat drank or wore why should these Commodities he sent abroad I presume the Army may be maintained with considerable Advantage to the Nation if duely weighed and inspected into increasing a great Trade and benefit to our Handicrafts of all sorts and thereby keeping them in full employ which would lessen the price of all such goods in general AND should so many Goods be bought up as would amount to the Sum fixed on by this Honourable House for the maintenance of the Army abroad they may procure a Credit in Holland or Flanders or in any City or great Town in those parts where such Goods shall be consumed being bought here at much easier rates than they can be afforded at in those parts FOR I find by Bills of Entry in the Custom-House That great Quantities of such Goods are sent to Holland and other parts adjoyning which must either by consumed in those places to which they are consign'd or else they are sent from thence to other parts remote THEREFORE should Factors be employed in England Scotland Ireland c. to Buy up such Goods And likewise Factors placed in Holland Flanders c. to whom they should be consign'd for the KING's use they may be sold with advantage to raise Moneys sufficient to pay the Army in those parts AND should not the said Factors be able to vend so many as to supply the KING's occasions in paying his Army yet the said Goods may be a sufficient Fund to borrow Monies on either from the States of Holland or from the Burghers of Cities or great Towns in those parts at Three Pounds per Cent. which Monies so borrowed may be re-paid as often as such Goods shall be vended NOW supposing the Kingdom pays but Eight Pounds per Cent. in the return of Coin by this means Five Pounds per Cent. will be saved to the Nation should such Goods be sold only for the prime Cost which will cause a great Consumption of our Commodities and keep our Coin and Bullion at Home and it may highly discourage the common Enemy when it shall appear we make an Advantage in Trade by the War in vending our Commodities and preventing the Exportation of our Coin and Bullion AND when the Re-Coining of the Monies shall be compleated Bullion may be permitted to rise and fall as at other times not exceeding the Money Coined by which means it will prevent the melting down of Cash by Work-men and the Exporting it into other Nations which will lower the Interest of Monies more effectually than any Bank whatsoever can do NOW my Proposals being no further intended than for the Service and Benefit of the Kingdom in general by a Method of raising 500000 l. per Annum without laying a Tax upon the Subject and procuring them ready Monies to be paid upon all occasions in any part of the Kingdom As also the saving of Monies in returning the KING's Tax and by how much ready Money in all Payments will be better and fairer in Dealings I humbly submit the consideration thereof to the great Wisdom of this Honourable House who may Order the KING's Money to be paid in such Methods as before Proposed which as I humbly conceive may Answer such Good Ends. These Proposals I intended to have presented to the last Session of Parliament but could not compleat them before the Prorogation FINIS Imprimis * For if any person shall adventure to Travel with Sums of Mony after having such Conveniencies provided for their so Safe and Easy ways of Remittances I Judge the Countryought not to be Liable to make good their Momeâ—â—s Lost by Robberies after such Bold and Daring adventures †My meaning is that all the Cash in General shall be Exchanged for New excepting such as shall appear to be Brass or Copper being the Profits arising from the Chambers will hear it for should it be otherwise Managed it may prove a Fatal consequence in almost Starving if not entirely Undoing a great Number of Poor Families throughout the Kingdom and it may prove a cause of great Desorders the greatest part of the Coin now going abroad is so generally Bad. * Which will occasion the Paying in of the Kings Revenues into the Exchequer with more Expedition by the Sub-Collectors being the first Charge laid upon the Moneys given His Majesty which will save the Government 100000 l. per Annum so much more being now paid for Collection going through so many Hands †I presume by modest Computation it will add a Third part more to the Incomes of the same * For I clearly conceive both City and Country will Improve and Encourage such an Establishment as shall make Moneys Circulate upon all Occasions to their great advantage †This will be a certain Fund for Credit and not a Bank of Credit as the Bank of England is from which I humbly conceive it will in no wife disoblige those Gentlemen concerned in that Bank already Established For I really Imagine that should not this Honourable House approve of my Proposals herein yet my Labour will not be lost in furthering the Advantages of that so well Methodiz'd Bank * Which Bullion may be Converted into Coin for His Majesty's present Occasion and the Profits arising by those Chambers may be sufficient to carry on the Work of Re-Coyning the Abused Cash of the Kingdom Numb 1. Check Do no wrong to any Man Numb 1. Numb 1.