DUDLEY NORTH

Nor in truth, can Forreign Trade subsist without the Home Trade, both being connected together.

When all things are considered, it will be found best for the Nation to leave the Borrowers and the Lender to make their own Bargains, according to the Circumstances they lie under

Moneys imployed at Interest in this Nation, are not near the Tenth part, disposed to Trading People, wherewith to manage their Trades; but are for the most part lent for the supplying of Luxury, and to support the Expence of Persons, who though great Owners of Lands, yet spend faster than their Lands bring in; and being loath to sell, choose rather to mortgage their Estates.

When Interest is less, Trade is incourag'd, and the Merchant can be a Gainer; whereas, when it is great, the Usurer, or Money-owner takes all. The Dutch, with whom Interest is low, Trade cheaper, and under-sell us.

Mettals are very necessary for many Uses, and are to be reckon'd among the Fruits and Manufactories of the World. And of these, Gold and Silver being by nature very fine, and more scarce than others, are higher prized; and a little of them is very reasonably esteem'd equal in value with a great quantity of other Mettals, etc. For which reason, and moreover that they are imperishable, as well as convenient for easie stowage and removal, and not from any Laws, they are made a Standard, or common Measure to deal with; and all Mankind concure in it, as every one knows, therefore I need not enlarge further in this matter.

No Man is richer for having his Estate all in Money, Plate, etc. lying by him, but on the contrary, he is for that reason the poorer. That man is richest, whose Estate is in a growing condition…

It may be said, let him take Money at Interest, and not buy at Time. But then Men must be found, that will lend; the Legislative must provide a Fund to borrow upon.

The Question to be considered is, Whether the Government have reason by a Law, to prohibit the taking more than 4 l. per cent Interest for Money lent, or to leave the Borrower and Lender to make their own Bargains.

Trade is nothing else but a Commutation of Superfluities; for instance: I give mine, what I can spare, for somewhat of yours, which I want, and you can spare.

So that it cannot be denied, but the lowering of Interest may, and probably will keep some Money from coming abroad into Trade; whereas on the contrary, high Interest certainly brings it out.

No Man is richer for having his Estate all in Money, Plate, etc. lying by him, but on the contrary, he is for that reason the poorer.

It may be said, let him take Money at Interest, and not buy at Time. But then Men must be found, that will lend; the Legislative must provide a Fund to borrow upon.

It is said, that in Holland Interest is lower than in England.

If any man, out of an humour, should turn all his Estate into Money, and keep it dead, he would soon be sensible of Poverty growing upon him, whilst he is eating out of the quick stock.

Trade is nothing else but a Commutation of Superfluities; for instance: I give mine, what I can spare, for somewhat of yours, which I want, and you can spare.

So that it cannot be denied, but the lowering of Interest may, and probably will keep some Money from coming abroad into Trade; whereas on the contrary, high Interest certainly brings it out.

The Question to be considered is, Whether the Government have reason by a Law, to prohibit the taking more than 4 l. per cent Interest for Money lent, or to leave the Borrower and Lender to make their own Bargains.

One rich Man hath Lands, not only more than he can manage, but so much, that letting them out to others, he is supplied with a large over-plus, so needs no farther care.

Nor in truth, can Forreign Trade subsist without the Home Trade, both being connected together.

And those are the Rich, who transmit what they have to their Posterity; whereby particular Families become rich; and of such are compounded Cities, Countries, Nations, etc.

Mettals are very necessary for many Uses, and are to be reckon'd among the Fruits and Manufactories of the World. And of these, Gold and Silver being by nature very fine, and more scarce than others, are higher prized; and a little of them is very reasonably esteem'd equal in value with a great quantity of other Mettals, etc. For which reason, and moreover that they are imperishable, as well as convenient for easie stowage and removal, and not from any Laws, they are made a Standard, or common Measure to deal with; and all Mankind concure in it, as every one knows, therefore I need not enlarge further in this matter.

I avert, that high Interest will bring Money out from Hoards, Plate, etc. into Trade, when low interest will keep it back.

When all things are considered, it will be found best for the Nation to leave the Borrowers and the Lender to make their own Bargains, according to the Circumstances they lie under

Moneys imployed at Interest in this Nation, are not near the Tenth part, disposed to Trading People, wherewith to manage their Trades; but are for the most part lent for the supplying of Luxury, and to support the Expence of Persons, who though great Owners of Lands, yet spend faster than their Lands bring in; and being loath to sell, choose rather to mortgage their Estates.

No Man is richer for having his Estate all in Money, Plate, etc. lying by him, but on the contrary, he is for that reason the poorer. That man is richest, whose Estate is in a growing condition…

It will be found, that as some particular Men in a Town grow richer, and thrive better than others; so also do Nations, who by Trade serving the occasions of their Neighbors, supply themselves with what they have occasion for from abroad; which done, the rest is laid up, and is Silver, Gold, etc. for as I said, these being commutable for everything, and of small bulk, are still preferr'd to be laid up, till occasion shall call them out to supply other Necessaries wanted.

When Interest is less, Trade is incourag'd, and the Merchant can be a Gainer; whereas, when it is great, the Usurer, or Money-owner takes all. The Dutch, with whom Interest is low, Trade cheaper, and under-sell us.