A Million Lottery was Proposed in Print by T. N. Nov. 15. 1694

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Suppose for the Year 1695.
Wanting Five or Six MILLIONS

1. T'IS probable, That Four Shillings in the Pound will again be Granted for the next Year from Christmas 1694/5. upon Land; and thereof to be Appropriated, One Million for Sea, and One Million for Land Service; being reckoned on as—Two Millions.

Though possibly not more than 1800000 l. and if the Revenue of the Customs (at Christmas Expiring) may be made use of towards Raising this Money, and the Methods hereafter mentioned be used for the rest, instead of Four Shillings in the Pound on Land, Two Shillings it may be may serve.

2. A Lottery may be Contrived, and upon only 140000 l. yearly for Sixteen Years as the last was, that the Money in Specie shall very quickly come in; for which T. N. has a Proposal ready Printed, and (as he conceives) choice of Easie Fonds {sic} for't; and if need be, supposes as he has contrived it, with Increasing the Fond half as much more, that it will bring in half as much Money more; but as yet on such 140000 l. yearly for Sixteen Years he proposes only—One Million.

3. T. N. has also thought of a way how to supply the Kings present Occasions (this next Year) with more than Two Millions of Money on a Fund of 8000 l. yearly only,^[1] which is but at Four per Cent. without any Compulsion or Prejudice to the present Revenue,^[2] or to those that shall Receive it, but rather a Convenience to both; and an Easie Fond may be Proposed for it.

Nov. 16. 1694.

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This Bill will be taken For one Hundred Pounds by the King in all Payments for Customs or Excise (and may also be Tryed) in the Places writ about It vntil the 25 of March 1696. And at any time after that Time the Bearer of It may vpon The delivering it vp Receive Four pounds at the Exchequer and One other such Bill of one Hundred Pounds for the year ensuing.

This Bill is to be cut Indentwise, Through The Several Knolls, or Flourishes, and each Knoll or Flourish being Numbred (as The Bill will be) is to be Severally Pasted in a Book to be kept at each respective Place mentioned above {illeg} There to prove The Truth of Such Bill.

Commissioner

• 100li London Custom 1695 N
• 100li London Custom 1695 N
• 100li London Excise. 1695 N
• 100li London Excise. 1695 N
• 100li London Transfer 1695 N
• 100li London Transfer 1695 N
• 100li London Exchequer. 1695 N
• 100li London Exchequer. 1695 N
• 100li Bristoll Cus. & Excise. 1695 N
• 100li Bristoll Cus. & Excise. 1695 N
• 100li Yarmouth Cus: & Exc: 1695 N
• 100li Yarmouth Cus: & Exc: 1695 N
• 100li Yorke Cus: & Excise 1695 N
• 100li Yorke Cus: & Excise 1695 N
• 100li Newcastle Cus: & Excise 1695 N
• 100li Newcastle Cus: & Excise 1695 N
• 100li Chester Cus: & Excise 1695 N
• 100li Chester Cust: & Excise 1695 N
• 100li Shrewsbury Cus: & Excise 1695 N
• 100li Shrewsbury Cus: & Excise 1695 N
• 100liExeter Cus: & Excise 1695 N
• 100liExeter Cus: & Excise 1695 N
• 100liPlymouth Cus & Excise 1695 N
• 100liPlymouth Cus: & Excise 1695 N
• 100liNorwich Cus. & Excise 1695 N
• 100liNorwich Cus. & Excise 1695 N
• 100liColchester Cus & Excise 1695 N
• 100liColchester Cus & Excise 1695 N
• 100liSouthampō Cus: & Excise 1695 N
• 100liSouthampō Cus: & Excise 1695 N
• 100liHull Cus: & Excise 1695 N
• 100liHull Cus: & Excise 1695 N

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A Million Lottery was Proposed in Print by T. N. Nov. 15. 1694. And now for Raising a Fond of 140000 l. Yearly for this Million Lottery, a Three Months Tax of 70000 l. a Month, and the Duty continued on Salt, will do it. And

'Tis to be considered, that the first Payment to such as shall advance this Money (besides what Rebate shall be allowed them for paying it in sooner, which comes out of the Money paid) will be probably at Lady-day 1696.

Now to make the Raising this Easie,

Let a Months Assessment of 70000 l. per Mensem be made Payable for the Month of February 1695/6, which will come after the Years Tax, if any of 4 or 2 s. in the Pound, which if so, will end at Christmas 1695. and out of it may be made the first Payment at Lady-Day, 1696. being 20000 l. only to the Fortunate, and leave 50000 l. towards the next Payment. And then suppose there be charged by way of the like Assessment on the Month of August, 1696. 70000 l. more, 'twill come in time enough with the 50000 l. aforesaid to make 120000 l. which will be to be paid to the Benefitted and not Benefitted Tickets for the Michaelmas Payment 1696. And then let the Month of February, 1696/7. be charged with 70000 l. more; out of which there may be paid 20000 l. to the Fortunate at Lady-Day 1697. and leave 50000 l. (towards the next Payment at Michaelmas 1697.) which with what may be raised from the Salt (now proposed to be continued) 'twixt the 17th. of May 1697. when the present Charge on it ends, and Michaelmas following, will be sufficient to make the Michaelmas Payment 1697. And the Duty of Salt will by that time be so well setled, that it cannot be doubted but that 'twill after abundantly pay the 140000 l. Yearly for whatever time 'tis given.

And thus for only one three Months Assessment at 70000 l. per Month, being proportionable only to a six Weeks Tax at 4 s. in the Pound to be paid in two Years, and none of it payable till after the 4 or 2 s. in the Pound supposed to be set for the Year 1695 does expire. And for the continuing of the Salt Tax, which will always be easie, here may be by way of Lottery for the Service of the Year 1695 thus Raised — 1 Million.

Or 3 d. in the Pound (as it may be easie laid) on Tobacco, or 1 d. a Pound on Soap, and the Additional Duty again renewed upon Sugars, (either of which may be done with small Inconvenience and few Officers) will be a sufficient Fond for the 140000 l. Yearly for the Million, by way of Lottery now proposed to be Raised.

Now, for a Fond for Raising any Sum of Money not exceeding 300000 l. yearly, Tobacco is proposed to be Taxed as herein afterexprest {sic}; but first Note, suppose its Prime cost in the Plantations per lb. 1. d. suppose its Freight and assurance home in Peace more about 3 ob. the Kings Duty one way or other comes to 5 d. which being good part of it to be paid or secured on Landing, and before 'tis disposed of, does much inconvenience the Importer, he for that reason being obliged to have and keep by him (or to be able at least to give Security for) double the Money he would otherwise have need of for his Tobacco Trade if he were not to pay the Duty till his Commodities sold.

Now, by this Computation the Prime Cost of the Tobacco, Freight, Custom, &c. comes to per Pound 6 d. $\frac{3}{4}$, and is commonly sold by the Importer at about 7 or 8 d. and so the gain of the Importer by it is about 1 d. $\frac{1}{2}$ at most, and oftentimes not so much: And for the Tobacco (of which all that is landed must pay and secure the Duty of 5 d. the Pound to the King) which is after Transported, tho' the Duty all but one half-penny be returned to the Importer if Shipt out in one Year, the Importer in the mean time is forced to be out of Pocket, or give Security for the Duty of such Tobacco to be paid, being more than double the value of the Tobacco it self. And for to Reimburse himself oftentimes in Necessity of that Money (so by him laid down or secured for the Duty) again, is forced to Transport it, whether the Markets abroad at that time require it or not; or else for want of Money (chiefly occasioned by having paid so much Duty, or being obliged to give Security for it) is forced to sell at under Rates and with loss to Engrossers and <2> others, who notwithstanding the Prime Cost and Duty to them is but 7 or 8 d. the Pound, do seldom sell it to those that take it, for less than double than Sum, but oftner at treble as much: And when the Duty herein after Proposed shall be in the manner herein Proposed set on it, 'twill not be sensibly dearer to the taker than 'tis; 'twill not hinder the Consumption, nor the Export, and the Merchant having this way not need of so much Stock, or of being able to give Security for, as now he must have to drive the Tobacco Trade, if he gets less by the Commodity, he however will make more per Cent. for his Money, 100 l. doing him the way following the Service of two.

To Demonstrate this, and what with ease is conceived may be raised Yearly on the Tobacco Fond.

Note, The present Duty as aforesaid on Tobacco is per Pound 5 d. and that Duty has been computed worth in Peace to the Crown Yearly 250000 l. and this chiefly rises by the home Consumption, 4 d. $\frac{1}{2}$ per lb. being to be returned to the Importer on Transportation, and so amounts not to much; but that part of the Duty (viz.) a half-penny per Pound when Exported may always continue, notwithstanding the new way of Taxing herein after Proposed, that having no relation to this, which lays the Duty only on the Consumption at home, and hinders not Foreign Trade in the least, nor does it create many Officers, nor can it be called an Excise as aforesaid. One Penny per Pound on the home Consumption of Tobacco, reckoning 5 d. per Pound to bring in 250000 l. Yearly, will bring in 50000 l. Yearly; so that if 3 d. more be laid on't, 'twill bring in, thus Reckoning, more than it does 150000 l. Yearly, being a Fond sufficient to raise two or three Millions upon; and if 4 d. $\frac{1}{2}$ be laid, 'twill bring in half as much more, and so be a Fond for in Proportion more Money; and if instead of 4 d. $\frac{1}{2}$ there should be 7 d. to make it 12 d. per Pound Duty, the Commodity will bear it very well, and be a very good Fond for 300000 l. Yearly more than it now brings at least.

The way Proposed to have this done with ease and convenience, and to Raise the Yearly Income or Revenue aforesaid, is

By making a Law, That,

1. All Tobacco Imported should first be unladen (as most of it is) at either London or Bristol.

2. That it be all lodged in Ware-houses to be prepared by the King for that purpose, and to be Lett to the Importer at easier Rates than at any other Place at London or Bristol by them shall be to be had; To which several Ware-houses each Owner of Tobacco and his Servants are always freely to come to take care of these Goods, and to sell and dispose them in any manner they shall think best; but before they go out of the Ware-house, the Duty already set on them, and what shall be further set, must be paid or secured, as must be prescribed by the Act to be paid or secured by the first Buyer or Importer as they two shall agree, but by one of them as aforesaid it must be paid or secured before the Goods be let go from the Ware-house, which ascertains the Duty for all Tobacco spent in the Kingdom, and for what shall be Exported upon payment of one half-penny (or rather nothing) if for Encouragement of that Trade it may be so Enacted.

Note, The Owner may have liberty to take thence and Export his Tobacco, (the necessary Cautions now used to see that such Tobacco for which the Duty is required to be returned) and as the Law now stands must be, (if it be Transported) being used to see and prove that the Tobacco so taken from the King's Ware-house, having paid the half-penny Duty, be truly Trasported {sic} abroad.

3. And Note further, a Publick Sale for disposing Tobacco by the Candle is proposed to be kept the second Week in each Month, both at London and Bristol.

For the Convenience of such as Import Tobacco, and without Paying any thing at the Landing, lay it up (as all must be obliged to do) in Ware-houses provided for it by the King; where the same shall be entred as 'tis landed in course, and if not disposed by the Owner before such day of Sale, as aforesaid, shall (if he thinks fit) be set up in course by the Candle, at what Price he shall set on it, and so Sold; And then the King's Duty being paid or secured, the Goods to be delivered.

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And that the Kings Duty may be much more certain than now it is. Note, If the Importer neglects or refuses to let his Goods be exposed to Sale, within the time to be allowed for paying the Kings Duty, or to pay and secure the Duty (which Duty being paid or secured, he may do as he will with his Goods.)

The said Goods shall upon the next day of Sale, after the time for paying the Duty expires, be by the Kings Officers set up and sold at the Candle, and on Receipt of the Money for which they shall be Sold, the Kings Duty being first taken out, the rest shall be paid to the Owner, who so is not hurt in the least. And besides

The Convenience of this way of Sale; 'twill be a certain and a great advantage to the first Owner of the Goods, and the like to all such as shall have occasion to buy; and that those Persons that have occasion only for small Quantities, may this way be ^[3]Convenienced, and yet at the same bidding be accommodated with a great Quantity if they so shall think fit, It may be Ordered.

That every Man's Goods (viz.) Hogsheads of Tobacco, shall be Numbred from 1. to as many as he shall think fit at once to Set up. And then,

The first Hogshead to be Set up by it self, with this Declaration, That whoever buys it, may take as many of the succeeding Numbred Hogsheads of that Parcel at the same Price as he shall think fit; So that he that will buy few, as well as he that would buy many, may this way be accommodated; and the Chapman beforehand having had the liberty to take what View he pleases of the Goods, cannot this way be Imposed on, by having Hogsheads of Ill mingled with Good, having it in his Power to end buying at what Number he will, and this will make the Proprietor exceedingly careful, that each Hogshead in every Numbred Parcel shall (as near as he can make them) be of Goodness alike, because 'twill be his Interest so to do; And every Buyer may (that being done) much safer bid; So all will be this way for the Benefit of both Seller and Buyer.

Nor can the first Owner of the Tobacco find any cause to complain of this sort of Sale, being left to his Liberty (paying or securing the Duty) to any otherwise dispose of his Goods that he can.

Nor can the Buyer complain of this way of Buying, being left at his Liberty to buy more or less, or any other way that he can; So that Buyer and Seller being both at Liberty, the one to Sell, and the other to Buy as he can, there's none of this way will ever have just cause to complain; And the Nation may be pleased by thus having the Publick supplied with some Millions of Money, which may be done by Tobacco as before Proposed, without burthening the Subject, and without destroying or lessening the Plantation Trade, but rather encreasing the same.

Now by what goes before, it being made evident that Tobacco may raise 300000 l. yearly yet more than it does. Note,

Every Penny laid on Tobacco being 40000 l. yearly, at least, many believing it not less than 50000 l. yearly, an Act of Parliament may out of it make Fonds {sic}, as great or as small as they will.

And now at first suppose only 2 d. the pound Additional Duty, in manner aforesaid laid on't, may produce 100000 l. yearly, and will yearly 80000 l. at the least, which for the raising two Millions, 'tis proposed should be Appropriated as strictly, as the Revenue for the Bank is on Trustees, accountable to Parliament for the constant answering of 4 per Cent. once a Year, at Lady-day, or Michaelmas Interest, to such as shall at that time yearly have Right to the Two Millions of Money, in proportion to every Man's Title thereto, and this Interest to always continue till Redeemed by Parliament, to which it must ever be Subject.

And now to bring this 80000 l. yearly, into two such Millions of Money as may answer so much of the Publick Occasions, and the satisfaction and advantage of such as can have it, and be no Prejudice at all to the Crown, nor any Inconvenience to the present Revenue, nor to be strongly Objected against by reason of the present Anticipations, which as this is Proposed to be put will never be hurt, nor the Persons therein concerned (unless they desire it) be troubled with being this way to be paid, such Care being taken that very little of it, after once 'tis paid out shall ever return to the Crown; and before 'tis paid out, being evidently better than any other sort of the King's Pay, unless for Contradiction sake, or its not being well understood, it cannot fail being approved of by all. the way follows:

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A way how to supply the Kings Occasions with a Million of Money on a Fond of 40000 l. yearly, or with two Millions on 80000 l. yearly, which is at 4 only per Cent. without any prejudice to the King's present Revenue, or compulsion to those that shall receive it, but rather a convenience to both; to do this 'tis Proposed,

That there should Bills, some of 100 l. some of 50 l. and some of 20 l. (as herein after Described) be Prepared, amounting suppose to one or two Millions, and to be paid out by the King as so much ready Money, to those his Majesty has occasion to pay Money to, and are willing this way to receive it, with a Declaration (as you see the Pattern made for 'em) that they shall be taken in payment, for either Excite or Custom, for the Money they are given out at, and the 4 per Cent. Interest, shall be paid to the Person possest of such Bills at Lady-day, or Michaelmas yearly, and the King as he pays them out, as 100. 50. or 20 l. shall take them again as 100. 50. or 20 l. In short, as the King pays out Silver and Gold, and takes it again for just the same as he paid it out; so, and no otherwise he should take again these Bills (viz.) as 100 l. 50 l. or 20 l. as he paid them out.

Whence 'twill follow, that whoever comes to be possest of these Bills (having a running Interest of 4 per Cent. on them) will never pay them into the Exchequer, either for Custom or Excise, if he can possibly find other Money to pay it.

And to hinder the remaining long of such Bills in the Exchequer, it may be enacted, That (if payment of any of these Bills be made, as 20 l. 50 l. or 100 l. for Custom or Excise) there shall every Week be set up in Writing at the Exchequer, Excise and Custom-house, an Account of what sums in such Bills remain there, with this Declaration Positive, that whilst there are any such Bills remaining in the Exchequer, Excise, or Custom-house, whoever brings ready Money, that is, 100 l. for 100 l. 50 l. for a 50 l. or 20 l. for a 20 l. Bill, shall not be refused it, tho 11 Months Interest be due upon't,^[4] and the whole twelve to be Received by the Possessor of the Bill, the Lady-day or Michaelmas following: This will make these Bills 'twixt man and man much better than ready Money, having such Interest, till paid for Excise or Custom, still running upon them, and when paid into the Exchequer so very advantagious to those that shall take them out, that the Kings Revenue in payment will have very few of them; And being so drawn that they cannot be Counterfeit, and may be proved true at the Custom-house if paid there, at the Excise Office if paid there, at the Custom-house at Bristol, and the other Places writ on them if paid there, and at the Exchequer when the Interest is paid, and a new Bill given there; as also for Ascertaining the truth of such Bills; an Office like that of the Transfer may be Erected in London, for a Penny to Try and Assert the Validity of any such Bill, which being so easy Ascertained, and having 4 per Cent. Interest (which is more than what the Bank Bills will have) running upon 'em, and it being ready Money to Merchants, when the Owner would part with it.

It is not to be doubted, but that this may to as much Satisfaction supply the uses of Money as either Bank Bills will, or Goldsmiths Notes ever did, and be a Prejudice to none, but a great Convenience to many, and a Publick Good, by encreasing the Currant Money of the Nation, which these Bills without any Compulsion, must of course and necessity do, and may be for greater or lesser sums, as Fonds {sic} shall be settled for it.

The form of the Bills, and how the Truth of them is to be Tryed, the following Print does demonstrate.

Tho Neale.

Nov. 16th. 1694.