Proposal to raise credit using Crown stocks of tin, cloth, wool, copper etc. as security
Mens Charitutis
The Queen's Storehouse for Tin \Cloth Wooll Copper lead &c/ upon which may be issued a valuable Credit, no wayes hazardous, that will encrease ye Trade of this Nation a Million Sterling yearsly, + greatly improvt her Maties. Revenue ariseing by Customes + Excise, + likewise employ many thousands of poor people who are now chargeable to their Parishes for want of work. Money bring {sic} the life of a Trading Nation aswell as it's Defence in time of War, where that is wanting, such Nation must languish, and if not timely helped come to ruin {us.}
That money is now wanting \or doth regularly {illeg} late/ a years by the prsent stagnation of Trade, there being in almost every parish many poor that are idle for want of Employmt.
Mony then being wanting, whatever answers all the ends of mony becomes as usefull.
Tin, The fund of an intrinsick value coyned or uncoyned will answer the great end by Managemt.
Credit if issued on a sure fund is as good as mony, nay many times Credit upon precarious funds hath answered all the uses of mony, + who is there can say that all Goldsmiths Notes and ye Notes of the Bank of England are not precariouss. for nobody knowes how much Credit they issue out in Bills beyond what they have a fund for. There is no care taken that their Books should be inspected, Besides the Bank of England is a great yearly tax to the Nation, + doth not accomodate the twentyeth part of the Trade prove amongst us.
For remedy whereof i{illeg}|f| her Maty. by peculiar proper reasons issue Bills of Credit upon all Tin + other Staple comodities deposited in lieu of Tin, which shall be brought to such places + unde{illeg}|r| such Security as may be safe to near the value thereof, at low Interest, it will be an Addition of so much (as good as mony) to the Trade of the Nation, and if that Credit be extended upon Cloath + other Staple commodities of this Kingdom, the Advantage will be yet greater.
There are persons that will advance {illeg}|1|0000{0}li in mony (if need be) to circulate these Bills, on very reasonable Terms, because of the goodness of the fund. {sic} |being {ma}de in spection + a controll quarterly|
By this means all Tinners, Cloathiers of severall Countries, and other Traders who now for want of a Market for their Comodities are forced to lye idle, with a great dead stock on their hands, + consequently many thousands of poor imployed under them, sometimes 3 Months together or more, for want of money to pay their Workfolkes, + to buy necessary materials for their Workes, will when they can have Credit upon depositing their Goods proceed in their Trades, + be allwayes imployed + those under them.
Thus Trade will be near doubled, the Poor allwayes imployed and the English Manufactures made better + Exported at cheaper rates.
This Credit ought + will be currant, being upon an Infallible Fund, which no Credit now Extanct can pretend to.
Whatever Nation can monopolize to it self one or more Comodities (without which their Neighbour Nations can not subsist) may at its pleasure draine the Treasure of its Neighbours, as this was formerly evident in the Wooll|, + it will be {lesse} upon Tin & other staples &c & Warehouse already provided wch cost above 50000li, all {illeg}dy + charges borne of hallkeepers + Storekeepers &c by the Hospitall {reveiwe} Instand Blakewell Hall Devonshr Exter, Wostr Gloster, London Hall &c for nothing besids {Ilevast} bigg Wellsh Hall {voidr} Guild Hall Emply &c|
Examd & reived ꝑ Wm Tindale
