la V E R I E 9 
 
 1 Relating to a 
 
 National Bank, 
 
 Extracted from the $JJ £ £ ISTi 
 
 Alfo the 
 
 LET TER 
 
 CONTAINING 
 
 A Plan or Sketch of ftich BANK/ 
 Republifhed with NOT E S. 
 
 DUBLINs 
 
 printed, and Sold by Gsoacx FAtuxtifiR,' 
 Book-feller, in Efftx-fttii, oppofite the Bridge, 
 Mdecxhth. 
 
Advertisement. 
 
 T HE Author hath thought 
 fit tofeleft the following Qu e- 
 tut s from among others of a Mifi. 
 ceilaneous Nature , intermixed with 
 them in the Qu erist, to the.End 
 that, thofe which relate to a National.. 
 Bank being brought together in one 
 View] the Reader may be the better 
 enabled to judge of the UJefukefs of 
 fuch a Propofoland mderfiand the 
 Grounds thereof ' 
 
I 3 J 
 
 Q.UER IE S 
 
 Relating to 
 
 A National Bank- 
 
 Extracted from the Firft Part of the 
 
 QUERIST. 
 
 H E T H E R there ever was, is, or 
 will be an induftrious Nation poor,'or 
 an idle, rich ? 
 
 Whether the four Elements, and' 
 Man’s Labour therein, be not the 
 true Source of Wealth ? 
 
 Whether Money be not only fo far 
 ufeful, as it flirreth up Induflry, enabling Men mutu¬ 
 ally to participate the Fruits of each others Labour ? 
 
 ' Whether any other Means, equally conducing t6 
 excite and circulate the Indiillry of Mankind, may not 
 be as ufeful as Money ? 
 
 Whether the real End and Aim of Men be not 
 Power? And whether he who could have every Thing 
 elfe at his Wilh or Will, would value Money ? 
 
 Whether other Things being given, as Climate, 
 Soil, &c. the Wealth be not proportioned to the Induf- 
 try, and this to the Circulation of Credit, be the Cre¬ 
 dit circulated or transferred by what Marks or Tokene 
 to sver? 
 
 Whether 
 
$ $)_U E R IE S relating it 
 
 Whether Money is to be confidqred as having an 
 intriniic Value, or as being a Commodity, a Standard, 
 a Mestfurey or a - Pledge; "as" iswarioufly fuggefted by 
 Writers ? And whether the true Idea of Money, as 
 filch, be not altogether that of a Ticket or Counter ? 
 
 Whether the Value or Price of Things, be not a 
 compounded Proportion, direftly as the Demand, and 
 reciprocally as the Plenty? •• 
 
 Whether the Terms Crown, Livre, Pound Sterling, 
 Sx. are not to be confidered as Exponents or Deno¬ 
 minations of fuch Proportion ? and whether Gold, 
 Silver* and Paper, are. not Tickets or Counters for 
 the -Reckoning,- Recording, and Transferring thereof?. 
 
 Whether-there be-afiy Virtue in Gold-or Silver, - 
 other than as they fet People at Work, or create In- 
 duftryj - 
 
 ’ Whether it be not the Opinion or Will of the Peo¬ 
 ple, exciting them to Induftry,-that truly enrichetha 
 Nation ? And whether this doth not principally depend 
 on die Meins for counting, transferring and preferving 
 Power, that is. Property of all Kinds ? ' 
 
 Whether current Bank Notes ’may not be deemed 
 Money ? And whether they are not aftually the great¬ 
 er part of the Money of this Kingdom ? 
 
 Provided the Wheels move, whether it is not the 
 lame Thing, as to the effeft of the Machine, be this 
 dorte by the Force of 'Wind or Water, or Animals ? 
 
 Whether Power to command the Induftry of others 
 be not real Wealth ? And whether Money bp not in 
 Tritth, Tickets or Tokens for conveying and recording 
 fuch Power, and‘whether it be of great Conference 
 what Materials the Tickets are made of ? 
 
 Whether Trade, either foreign or domeftick,' be in 
 Truth any more than this Commerce of Induftry? 
 
 Whether to promote, transfer, and fccure thisCom T 
 merce, and this Property in human Labour, or, in 
 Other Words, this Power, be not the foie Means of 
 enriching a People, and’how far this may be done in¬ 
 dependently of Gold and Silver? 
 
 • ‘ ’ ' \Vhc:he; 
 
1 ^National Bank. " f 
 
 | Whether it were not wrong to fuppofe Land it felf 
 to be Wealth f And whether the Induftry of the Peo- 
 ; pie is not firft to he conftdered, as that which conili' 
 tutes Wealth, which makes even Land and Silver to 
 : be Wealth, neither of which would have any Value, 
 but as Means and Motives to Indudry ? 
 
 Whether in the Wades of America a Man might 
 not poflefs twenty Miles fquare of Land, and yet want 
 his Dinner or a Coat to his Back ? 
 
 Whether a fertile Land, and the Indullry of its In¬ 
 habitants, would not prove inexhauftible Funds of 
 real Wealth, be the Counters for conveying and re¬ 
 cording thereof what you will, Paper,'Gold, or Silver! 
 
 Whethenthe Opinion of Men, and their Indullry 
 confequent thereupon, be not the true Wealth of Hol¬ 
 land, and not the Silver fuppofed to be depofited in 
 the Bank at Amderdam ? 
 
 Whether there is in Truth any fuch Treafure lying . 
 dead? And whether it be of great confequence to the 
 Public, that it Ihould be real rather than notional ? 
 
 Whether the abufe of Banks and Paper-Money is a 
 juft Objeftion againd the ufe thereof? And whether 
 fucli abufe might not eafily be prevented? 
 
 Whether national Banks are not found ufeful in Ve» 
 
 ; nice, Holland y and Hambourgh ? * And whether it is 
 , not'podible to Contrive one that may be ufeful alfo in 
 , Ireland?. 
 
 Whether any Nation ever was in greater want of 
 ' fucli ahFrqsedient than Ireland? 
 
 Whether the Banks of Venice and Amderdam, are 
 ■ not in'the Hands of the Public? 
 
 Whether it may not be worth while to inform our 
 , felvesin the.Natureof thofe Banks ? And whatReafon 
 | can' beaffigned, why Irelanddiould notreap the Bene¬ 
 fit of fuch public Banks, as well as other Countries ? 
 
 Whether a. Bank of national Credit, fupported by 
 
 * N- B. Since the. Publication of thofe Querids, the 
 j Hamburghers have been obliged by the King c/'Den- 
 ; mark, tojbut up their Bank. 
 
 : public 
 
6 Q_U E R 1 E S relating te 
 publicFunds, and fecured by Parliament, be a Chimera 
 or impoflible Thing ; and if not, what would follow 
 from theSuppofal of fuch Bank ? 
 
 Whether the Currency of aCredit fo well fecured 
 would not be of great Advantage to our Trade and 
 Manufaflores ? 
 
 Whether the Notes of fueh publick Bank would 
 not have a more general Circulation than thofe of pri¬ 
 vate Banks, as being lefs fubjcft to Frauds and Ha¬ 
 zards? 
 
 Whether it be not agreed that Paper hath, in ma¬ 
 ny refpefb, the Advantage above Coin, as being of more 
 Difpatch in Payments, more eafily transferred, pre¬ 
 ferred, and recovered when loll? 
 
 Whether, befides thefe Advantages, there Ire not an 
 evident Neceffity for circulating Credit by Paper, from 
 the Defeft of Coin in this Kingdom ? 
 
 What would happen if two of our Banks fhould 
 break at once ? And whether it be wife to negieft pro¬ 
 viding againft an Event which Experience hath {hewn 
 xu not to be impoflible ? 
 
 Whether fuch an Accident would not particularly 
 affeft the Bankers? And therefore whether a national 
 Bank would not be a Security even to private Ban¬ 
 kers? 
 
 Whether we may not eafily avoid the Inconvenien- 
 aes attending the Paper-Money of New England, 
 which were incurred by their ifluing too great a Quan¬ 
 tity of Notes, by their having no Silver in Bank to ex¬ 
 change for Notes, by their not infilling upon Repay¬ 
 ment of theLoans at the Time prefixed, and efpecial- 
 lv by their Want of Manufaftures to anfwer their 
 Imports from Europe ? 
 
 Whether a Combination of Bankers might not do 
 Wonders, and whether Bankers know their own 
 Strength ? 
 
 Whethera Bank in private Hands might not even 
 overturn a Government? And whether this was not 
 the Calc of the Bank of St. George in Genoa ? * 
 
 Whether 
 
a National Ban*. <j 
 
 Whether we may not eafily prevent the ill Effefts 
 bf fnch a .Bank, as Mr Law propofed for Scotland, 
 which was faulty in not limiting the Quantum of Bills, 
 and permitiingall Perfons to take out what Bills they 
 pleated, upon the Mortgage of Lands, whence, by a 
 Glut of Paper, the Prices of Things mull rife: Whence 
 alfo the Fortunes of Men muftencreafe in Denomina¬ 
 tion, though not in Value; whence Pride, Idlencfs, 
 and Beggary ? 
 
 Whether fuch Banks, as thofe of England and Scot¬ 
 land, might not be attended with great Inconveniences, 
 as lodging too much Power in the Hands of private 
 Men, and giving handle for Monopolies, Stockjobbing, 
 and deftruftive Schemes? 
 
 Whether the national Bank, projefled by an Ano* 
 nymous Writer in the latter End of Queen Anne’s . 
 Reign, might not on the other Hand be attended with 
 as great Inconveniencies, by lodging too much Power 
 
 ■ in the Government? 
 
 - Whether the Bank projefled by Murray, though it 
 , partake, in many ufeful Particulars, with that of Am- 
 iierdam, yet, as it placeth too great Power in the 
 Hands of a private Society, might not be dangerous 
 ; to the Public? 
 
 • Whether it be rightly remarked by fome, that, as 
 : Banking brings no Treafure into the Kingdom like 
 ] Trade, private Wealth mud fink as the Bank rifeth? 
 
 Z And whether whatever caul'eth Indurtry toflourilh and 
 : i circulate, may not be faid to increafe our Treafure? 
 
 ’ Whether the ruinous Effefls of Mifliflippi, South- 
 ■> Sea, and fuch Schemes, were not owing to an Abufe of 
 : Paper Money orCredit, in making it a Means for Idle- 
 ] nefs and Gaming, inftead of a Motive and Help to In* 
 
 ' duflry ? 
 
 1 Whether thofe Effefls could have happened, had 
 hhere been no Stock-jobbing? And whether Stock* 
 ijobbing could at iirll have been fet on Foot, without 
 an imaginary Foundation of fome Improvement to the 
 ;Stock by Trade ? Whether, therefore, when there are 
 .vno fuch Projefls, or Cheats,or private Schemes propofed, 
 the fame Effefta can be juiftly feared. 
 
j} Q_U E R I E S relating t6 
 
 Whether by a national Bank, be not properly un- 
 derftood a Bank, not .only eftabMhed by public Au¬ 
 thority as the Bank of England, but a Bank m the 
 Hands of the Publick, wherein there are no Shares : 
 Whereof the Publick alone is Proprietor; and reaps all 
 
 ^ Whefhw having corifldered the Conveniences of 
 Banking and Paper-Credit in forae Countries, and the 
 Inconveniences thereof in others, we may not contrive 
 to adopt the former, and avoid the latter. 
 
 Whether great Evils, to which other Schemes are 
 liable, may not be prevented, by excludmg the Ma¬ 
 nagers of the Bank from a Share in the Legiflature ? 
 
 Whether the rife of the Bank of Amfterdam was 
 not purely cafual, for the Security of Payments ?. And 
 Whether the good Effefts thereof, in fupplymg the 
 Place of Coin, and promoting a ready Circulation of 
 Induftry and Commerce, may not be a Leffon to us, 
 to do that by Delign, which others fell upon by 
 
 ^Whether the Bank propofed to be eftablilhed in Ire¬ 
 land, under the Notion of a national Bank by thi 
 voluntary Subfcription of three hundred thoufand 
 Pounds to pay off the national Debt, the Intereftof 
 - which Sum to be paid the Subfcribers, fubjeft to cer¬ 
 tain Terms of Redemption, be not m reality a private 
 Bank, as thcfe of England and Scotland, which are na¬ 
 tional only in Name, being in the Hands of particular 
 Pafons, and making Dividends on the Money paid in 
 
 Whether 6 that, which increafeth the Stock of a Na¬ 
 tion, be not a Means of increafing its Trade And. 
 whether that, which increafeth' the Current Credit of 
 a Nation, may not be faid to increafe its Stock. . 
 
 Whether it may not be expedient to a PF lnt «rhin 
 Funds or Stock for a national Bank, under Infpeaion 
 of certain Perfons, one third whereof to be named by 
 the Government, and one third by each Heufe of 
 Parliament? 
 
o National Bank* ? 
 
 Whether fuch Committee of Infpeftors ihould not 
 Be changed every two Years, one half going out, and 
 another coming in, by Ballot ? 
 
 Whether the Notes ought not to be iffued in Lots, 
 to be lenr at Interelt on mortgaged Lands, the whole 
 Number of Lots to be divided among the four Pro¬ 
 vinces, rateable to the Number of Hearths in each? 
 
 Whether, the better to anfwer domellic Circulation 
 it may not be right to iflue Notes as low as twenty 
 Shillings ? 
 
 Whether the keeping of the Cafh, and the direction 
 of the Bank, ought not to be in different Hands, and 
 both under Public Controul ? 
 
 Whether the fame Rule fhould not always be ob- 
 ferved, of lending out Money or Notes, only tohalf 
 the Value of the Mortgaged Land? And whether this 
 Value Ihould not always be rated, at the fame Number 
 of Years Purchafe as at firlt? 
 
 Whether Care Ihould not be taken to prevent an un¬ 
 due Rife of the Value of Land ? 
 
 Whether the increafe of Induftry and People will 
 not of Courfe raife the Value of Land? And whefhfir 
 this Rife may be fufficient ? 
 
 Whether Land may not be apt to rife, on the Blu¬ 
 ing too great Plenty of Notes ? 
 
 Whether this may not be prevented by the gradual 
 and flow iffuing of Notes, and by frequent Sales of 
 Lands? ■' 
 
 Whether Intereft doth not meafure the true Va¬ 
 lue of Land; for Inftance, where Money is at five 
 per Cent, whether Land is not worth twenty Years 
 Purchafe.? 
 
 Whether too fmall a Proportion of Money would 
 not hurt the landed Man, and too great a Proportion’ 
 the monied Man? And whether Trial muff notlhew 
 uvhat this Demand will be? 
 
 ; Whether the exceeding this Meafure might n ot pro¬ 
 duce divers bad Effects, one whereof would be the 
 ■Lofs of our Silver? 
 
 ‘ B 
 
 Whether 
 
if SLVE R 1 E S relating to 
 
 Whether the Public can become Bankrupt, fo long 
 as the Notes are iffiied on good Security ? 
 
 Whether Mifmanagement, prodigal Living, Hazards 
 by Trade, which qften affeft private Banks, are equally 
 to be apprehended in a Public one? 
 
 Whether as Credit became Current, and this raifed 
 the Value of Land, the Security moil not of Courfe 
 rife? 
 
 Whether as our current domeftic Credit grew, In¬ 
 duftry would not grow likewife, and if Induftry, our 
 Manufafiures, and if thefe, our foreign Credit ? 
 
 Whether by Degrees, as Bufmefs and People multir 
 plied, more Bills may not be iffued, without augment¬ 
 ing die Capital Stock, provided Bill, that they iffued 
 on good Security; which further iffuing of new Bills, 
 not to be without Confent of Parliament? 
 
 Whether fuch Bank would not be Secure? Whether 
 the Profits accruing to the Public would not be very 
 eonfiderable? And whether Induftry in private Per- 
 fons would not be fupplied, and a general Circulation 
 encouraged? 
 
 Whether if the Public thrives, all particular Pcrfons 
 muft not . feel the Benefit thereof, even the Bankers 
 themfelves ? 
 
 Whether befide the Bank-Company, there are not 
 in England many private wealthy Bankers, and whe¬ 
 ther they were more before the erefling of that Com¬ 
 pany? 
 
 Whether as Induftry increafe, our Manufaftures 
 would not flourilh; .and as thefe flourilhed, whether 
 (setter Returns would not be made from Eftates to 
 their Landlords, both within and without die King¬ 
 dom? 
 
 Whether we farce not Paper-Money circulating a- 
 mong us already? Whether, therefore, we might not 
 as weli have that which is fecured by the Public, 
 and whereof the Public reaps the Benefit ? 
 
 Whether there are not two general Ways of circu, 
 Uting Money, to wit. Play and Traffic? And whe¬ 
 ther 
 
* National Bank. it 
 
 ther Stock-jobbing is not to be ranked under the 
 former ? 
 
 Whether there are more than two Things, that 
 might- draw? Silver out of the Bank, when its Credit 
 was once well eftablilhed, to wit, foreign Demands 
 and friiall Payments at Home ? 
 
 Whether if our Trade with France werfe checked,- 
 the former of thefe Caufes could be fuppofed to Ope¬ 
 rate at all f And whether the latter could operate to 
 any great Degree? 
 
 Whether the fure Way to fupply People with Tools 
 and Materials, and to fet them at Work, be not a free 
 Circulation of Money, whether Silver or Paper ? 
 
 Whether in New England, all Trade and Bufi- 
 nefs is not as much at a Stand, upon a Scarcity of 
 Paper-Money, as with us from the Want of Specie? 
 
 Whether Paper-Money or Notes may not bfc iffued 
 from the National Bank, on the Security of Hemp, of 
 Linen, or other Manufactures, whereby the Poor-might 
 be fupported in their Induftiy? 
 
 Whether it be certain, that the Quantity of Silver 
 in the Bank of Amfterdam be greater now than at firft; 
 but whether it be not certain that there is a greater 
 Circulation of Induftry and Extent of Trade, more 
 People, Ships, HcUfes, and Commodities of all Sorts, 
 more Power by Sea and Land? 
 
 Whether Money, lying Dead in the Bank of Am- 
 ilerdam, would not be as ufelefs as in the Mine? 
 
 Whether our vifible Security in Land could be 
 doubted ? And whether there be any Thing like this 
 in the Bank of Amfterdam ? 
 
 Whether it be juft to apprehend Danger from truft- 
 ing a National Bank, with Power to extend its Credit, 
 to circulate Notes, which it lhall be Felony to counter¬ 
 feit, to receive Goods on Loans, to purchafe Lands, 
 to fell alfo or alienate them, and to deal in Bills of 
 Exchange, when thefe Powers are no other than have 
 been triifted for many Vears with the Bank of England, 
 although in Truth but a private Bank? 
 
 i»a 
 
 Whether 
 
It $>JJ £ R I E S relating to 
 
 Whether the Objeftion from Monopolies and an 
 over-growth of Power which are made againft pri¬ 
 vate Banks, can poffibly hold againft a National one ? 
 
 Whether Banks raifed by private Subfcription, would, 
 be as advantageous to the Publiek, as to the Subfcri- 
 bere ? And whether Rifques and Frauds might notbe 
 more juftly apprehended from them? 
 
 Whether the evil Effects, which, of late Years, 
 have attended Paper-Money and Credit in Europe, did 
 not fpring from Siibfcriptions, Shares, Dividends, 
 and Stock-jobbing? 
 
 Whether great Evils attending Paper-Money in the 
 Britiffr Plantations of America have not fprung from 
 the over-rating their Lands, and iffuing Paper without 
 Difcretion, and from the Legiflators breaking their own 
 Rules in Favour of themfelves, thus facrificing the 
 Public to their private Benefit? And whether a little 
 Senfe and Honefty might not eafily prevent all fuch In- 
 conveniencies ? 
 
 Whether an Argument from the Abufe of Things, 
 againft the ufe of them be Conclufive ? 
 
 Whether he who is bred to a Part, be fitted to judge 
 of the Whole? 
 
 Whether Intereft be not apt to biafs Judgment? 
 And whether Traders only are to be confulted about 
 Trade, or Bankers about Money ? 
 
 Whether any Man hath a Right to judge, that will 
 not be at the Pains to diftinguifli ? 
 
 Whether there be not a wide Difference, between 
 the Profits going to augment the National Stock, and 
 being divided among private Sharers ? And whether, 
 in the former Cafe, there can poffibly be any Gaming 
 or Stock-jobbing?' • 
 
 Whether it rnuft notrbe ruinous for a Nation to fit 
 down to game, be it with Silver or with Paper? 
 
 Whether, therefore, the circulating Paper, in the 
 late ruinous Schemes of France and England, was the 
 true Evil, and not rather the circulating thereof with¬ 
 out Induftty? And whether the Bank of Amfterdam, 
 where Induftry had beenfor fo many Years fubfifted, 
 and 
 
| uNationalBank. i$ 
 
 -and circulated by Transfers on Paper, doth not clearly 
 | decide this Point. 
 
 : Whether there are not to be fe'e'n in America fair 
 ’Towns, wherein the People are well lodged, fed, and 
 jcloathed, without a Beggar in their Streets, although 
 ; there be not one Grain of Gold or Silver current 
 iamong them? 
 
 I Whether thefe People do not exercife all Arts and 
 I Trades, build Ships, and navigate them to all Parts of 
 I the World, purchafe Lands, till and reap the Fruits of 
 them, buy and fell, educate and provide for their 
 Children ? Whether they do not- even indulge them- 
 felves in foreign Vanides ? 
 
 Whether whatever Incofiveftieitcies thofe People 
 may have incurred, from not obferving either Rules 
 or Bounds in their Paper-Money, yet it be not certain 
 that they are in a more flouriihing Condition, have 
 larger and better built Towns, more Plenty, more In- 
 tiuftry, more Arts and Civility, and a more extenfive 
 Commerce, than when they had Gold and Silver cur¬ 
 rent among them ? 
 
 Whether a View of the ruinous Effeft of abfurd • 
 Schemes, and Credit mifmanaged, fo as to produce 
 Gaming and Madnefs inftead of Induftry, can be 3 
 juft Objediion againft a National Bank, calculated pure¬ 
 ly to promote Induftry f 
 
 QUERIES 
 
CLUER IE S 
 
 Relating to 
 
 A National Bank, 
 
 Extra&ed from the Second Part of the 
 
 QUERIST. 
 
 B H E T H E R a few Milhaps to par* 
 ticular Perfons may not throw this 
 Nation into the utmoft Confufion? 
 
 Whether the Public is not even on 
 the Brink of being undone by private 
 
 Whether the Wealth and Profperity of our Country 
 do not hang by a Hair, the Probity of one Banker, the 
 Caution of another, and the Lives of all ? 
 
 Whether we have not been fufficiently admonilhed 
 
 of this by fome late Events ? 
 
 Whether therefore it be nothigh time to open our 
 
 Whether a National Bank would not at once fecure 
 our Properties, put an End to Ufury, facilitate Com¬ 
 merce, t'upply the want of Coin, and produce ready 
 Payments in all Parts of the Kingdom! See Qu. 106, 
 207, fc. Part I. 
 
 Weether the Ufe or Nature of Money,- which all 
 Men fo eagerly purfue, be yet fufficiently underftood 
 ordered by all? whetho 
 
j « National Bank. 15 
 
 ; Whether Mankind are not govern’d by Imitation 
 rather than by Reafon ? 
 
 Whether there be not a Meafure or Limit within 
 which Go'.d and Silver are ufeful, and beyond which 
 they may be hurtful ? 
 
 Whether that Meafure be not the circulating of 
 Jnduflry ? 
 
 Whether a Difcovery of the richeft Gold Mine, 
 that ever was, in the Heart of this Kingdom, would be 
 a real Advantage to us? 
 
 Whether it would not tempt Foreigners to prey up¬ 
 on us ? 
 
 Whether it would not render us a lazy, proud and 
 daflardly People? See Qu. 45. Part I. 
 
 Whether the feme Evils would be apprehended from 
 Paper-Money under an honeft and thrifty Regulation ? 
 
 Whether, therefore, a National Bank would not be 
 more beneficial than even a Mine of Gold ? 
 
 Whether private Ends are not profecuted with more 
 Attention and Vigour than the Public? And yet, 
 whether all private Ends are not included in the 
 Public ? 
 
 Whether Banking be not abfolutely neceflary to the 
 Public Weal? 
 
 Whether even our private Banks, though attended 
 with fuch Hazards as we all know them to be, are 
 not of fingular Ufe in defeft of a National Bank ? 
 
 Whether without them what little Bufmefs and In- 
 duftry there is would not ftagnate ? But whether it be 
 not a mighty Privilege for a private Perfon, to be able 
 to create an hundred Pounds with a Dalh of his Pen? 
 
 Whether the Myftery of Banking did not derive its 
 Original from the Italians ? Whether this acute Peo¬ 
 ple were not, upon a Time, Bankers over all Europe P 
 Whether that Bufmefs was not praftifed by fome of 
 their noblell Families, who made immenfe Profits by 
 it, and whether to that the Houfe of Medici did not 
 •priginally owe its Greatnefs? 
 
 Whether the State of Venice was not the firft that 
 Conceived the Advantage of a National Bank l 
 
 Whether 
 
16 QUERIES relating to 
 
 Whether at Trtwrr all Payments of Bills of Exchange 
 and Merchants Contrails are not made in the nations 1 
 or public Bank, the greateff Affairs being tranfafted on¬ 
 ly by writing the Names of the Parties, one as Debtoi 
 the other as Creditor in the Bank-Book ? 
 
 Whether neverthelefs it was not found expedient, 
 to provide a Cheft of ready Calh for anfwering all De¬ 
 mands that fliould happen to be made on account ol 
 Paymenrs in Detail? 
 
 Whether this Offer of ready Calh, inilead of Trans¬ 
 fers in the Bank, hath not been found to augment ra¬ 
 ther than diminilh the Stock thereof? 
 
 Whether the great. Exaitnefs and Integrity, with 
 which this Bank is managed, be not the chief Sup¬ 
 port of that Republick ? 
 
 Whether we may not hope for as much Skill and 
 Honefty .in a -Prctejiant lrijh Parliament, as in a 
 Popijb Senate of Venice ? 
 
 Whether the Bank of Amflerdam was not begun 
 about one Hundred and thirty Years ago, and whe¬ 
 ther at this Day, its Stock be not conceived to amount 
 to three Thoufand Tons of Gold, or thirty Millions 
 .Sterling. 
 
 Whether all Payments of Contrafts for Goods in 
 Grofi and Letters of Exchange, mull not be made by 
 Transfers in the Bank Books, provided the Sum ex¬ 
 ceed Three Hundred Florins ? : 
 
 Whether any Man thinks himfelf the Poorer, be- 
 caufe his Money is in the Bank ? 
 
 Whether it be not owing to this Bank, that the 
 ■City of Amfterdam, without the leait Confufion, 
 Hazard or Trouble-, maintains, and every Day pro¬ 
 motes fo general and quick a Circulation of Indultry.? 
 
 Whether it be not the greateft Help and Spur to 
 Commerce, that Property can be fo readily conveyed 
 and fo well fecured by a Compte en Banc, that is, 
 by only writing one Man’s Name for another’s in the 
 Bank-Book ? 
 
 - Whether at the beginning of the laft Century, thofe 
 who had lent Money to the Publick during the War 
 with i 
 
i» National Bank.' i j 
 
 with Spain, were not fatisfied by the foie Expedient 
 of placing their Names in a Cmfte tn Banc, with Li¬ 
 berty to transfer their Claims ? 
 
 Whether the Example of thofe eafy Transfers in the 
 Compte en Banc, thus cafually erefted, did not tempt 
 other Men to become Creditors to the Public, in or¬ 
 der to Profit by the fame fecure and expeditious Me¬ 
 thod of keeping and transferring their Wealth ? 
 
 Whether this Compte en Banc hath not proved bet¬ 
 ter than a Mine of Gold to Amfierdam. 
 
 Whether that City may not be fitid to owe her 
 Greatnefs to the unpromifing Accident of her having 
 been in Debt more than Ihe'was able to pay ? 
 
 Whether it be known that any State from fuch 
 mail Beginnings, in fo Ihort a Time, ever grew to 
 fo great Wealth and Power, as the Province of Hol¬ 
 land hath done ; and whether the Bank of Amjlerdam 
 hath not been the real Caufe of fuch extraordinary 
 Growth? 
 
 Whether at Hamburgh the Citizens have not the 
 'Management of the Bank, without the meddling or 
 Infpeftion of the Senate? 
 
 Whether the Direftors be not four principal Burgh¬ 
 ers chofen by plurality of Voices, whofe Bnfinefs is to 
 fee the Rules obferv.ed, and furnilh the Calhiers with 
 Money ? 
 
 Whether the Book-keepers are not obliged to ba¬ 
 lance their Accounts every Week, and exhibit them 
 to the Controllers or Direftors? 
 
 Whether this Bank doth not lend Money upon 
 Pawns at low Intereft and only for half a Year, after 
 which Term, in default of Payment, the Pawns are 
 punftually fold by Auftion ? 
 
 Whether the Book-keepers of the Bank of Hamburgh 
 are not obliged upon Oath, never to revedl what Sums 
 ot Money are paid in or out of the Bank, or what Ef¬ 
 fects any particular Perfon has therein ? 
 
 Whether, therefore, it be poflible to know the 
 State or Stock of this Bank; and yet vyhether it be 
 
jS $_U E R I E,S reining It 
 not of the greateft Reputation, and moft eilablifhed 
 Credit throughout the North ? 
 
 Whether' the Succefs of thofe Publick Banks, in 
 Venice, Asnfleriam and Hamburgh , would not na¬ 
 turally produce in other States an Inclination to the 
 fame Methods ? 
 
 Whether the Bank called the General Bank of 
 France, contrived by Mr. Lara, and eftablilhed by 
 Letters Patent in May 171 6, was hot in Truth a par¬ 
 ticular and not a National Bank, being in the Hands 
 of a particular Company privileged and protefted by 
 the Government? 
 
 Whether the Government did not Order, that the 
 Notes of . this Bank Ihould pafs on a' Par with ready 
 Money in all Payments of the Revenue ? 
 
 Whether it was not made a capital Crime to forge 
 the Notes of this Bank? - 
 
 Whether this Bank was not retlrained from Trading 
 either by Sea or Land, and from taking up Money up¬ 
 on Interell: ? 
 
 Whether the Original Stock thereof was not fix 
 Millions of Livres, divided into Aftions of a thoufand 
 Crowns each? 
 
 Whether the Accompts of this Bank were not ba¬ 
 lanced twiee every Year ? 
 
 Whether in the Beginning of the Year; 1719; the 
 French King did not convert the general Bank of 
 France into a Banqut Romaic, having liimfelf pur- 
 chafed the Stock of the Company, and taken it into his 
 own Hands, and appointed the Duke of Orleans chief 
 Manager thereof. 
 
 Whether befide the general Beaureau or Compter in 
 the City of Paris, there were not alfo appointed 
 five more in the Towns of Lyons, fours, Rochelle, 
 Orleans and -Amiens, each whereof was provided with 
 two Chefts, one of Specie fordifcharging Bills at Sight, 
 and another of Bank Bills to be iffued as there fhould 
 be demand? ■ . 
 
 Whether, in a fhort Compafs of Time, this Bank 
 did 
 
a National Bank; jp 
 
 did not undergo many new Changes and Regulations, 
 by feveral fucceffive Afts of Council f 
 
 Whether the untimely, repeated, and boundlels Fa¬ 
 brication of Bills did not precipitate the Ruin of this 
 Bank ? 
 
 Whether it be not true, that before the End of 
 July, 1719, they had fabricated four'Hundred Mil¬ 
 lions of Livres in Bank-Notes, to which they added 
 the Sum of one Hundred and twenty Millions more on 
 the 1 ith of September following, alfo the fame Sum of 
 . one Hundred and twenty Millions on the 14th of OB. 
 and again on the 29th of December, in the fame Year, 
 the farther Sum of three Hundred and fixty Millions, 
 making the whole; from an Original Stock of fix Mil¬ 
 lions, amount, within the Compafs of one Year, to a 
 thoufaud Millions of Livres? 
 
 Whether on the 28th of Feb. 1720, the King did 
 not make an Union of the Bank with the united Com¬ 
 pany of the Eufl and Wejl-Indies, which from that 
 Time had the Adminiftration and Profits of the Banque 
 RoyaD. 
 
 Whether the King did not -ilill profefs himfelf re- 
 • fponfible for the Value of the Bank-Bills, and whether 
 the Company were not refponfible to his Majefty for 
 their Management ? 
 
 Whether the Chefts and Books of the Banque were 
 not fubjefled to the joint Inlpediion of a Counfellor of 
 State, and the Brevet des Marchands, aflilled by two 
 Echevins, a Judge, and a Cos§d, who had Power to 
 vifit when they would, and without. Warning ? 
 
 Whether in lefs than two Years,, the Aflions or 
 Shares of the Indian Company (fiift eltabliflicd for 
 Mififtpi, and afterwards • increafed by the Addition of 
 other Companies and further Privileges) did not rife 
 to near two Thoufand per Cent ? And whether this 
 mull: be aferibed to real Advantages of Trade, or to 
 mere Frenzy ? 
 
 Whether from firlt to lad there were not fabricated 
 Bank-bills, of one Kind or other, to the Value of more 
 C 2 than 
 
'ip QUERIES relating to 
 
 than two Thoufand and fix Hundred Millions of Li-' 
 
 vres, or one hundred and thirty Millions Sterling ? 
 
 Whether the Credit of the Bank did not decline 
 from its Union with the Indian Company ? 
 
 Whether, notwithllanding all the above-mentioned 
 extraordinary Meafures, the Bank-bills did not Hill 
 pafs at Par with Gold and Silver, to May, 1720, 
 when the French King thought, by a new Aft of 
 Council, to make a Reduftion of their Value, which 
 proved a fatal Blow, the Effefts whereof, though foon 
 retrafted, no fubfequent Skill or Management could 
 ever repair? 
 
 Whether, what no Reafon, Refteftioii, or Fore¬ 
 fight could do, this fimple Matter of Faft (the moll 
 powerful Argument with the Multitude) did not do 
 at once, to wit, open the Eyes of the People ? 
 
 Whether the Dealers in that Sort of Ware had ever 
 troubled the r Heads, with the Nature of Credit, or 
 the true Ufe and End of Banks, but only confidered 
 their Bills and Aftions as things, to which the general , 
 Demand gave a Price ? 
 
 Whether the Government was not in great Per¬ 
 plexity to contrive Expedients for the getting rid of 
 thofe Bank-bills, which had been lately multiplied 
 with fuch an unlimited Palfion ? 
 
 Whether, after all other Shifts, the laft and grand 
 Refource for exnauiling that Ocean, was not the ereft- 
 ing of a Compte en Banc in feveral Towns of France ? . 
 
 Whether it may not be as ufeful a Leffon, to con- 
 fider the bad Management of fome, as the good Ma« 
 nagement of others ? - _ 
 
 Whether the rapid and furprifinj^&tftcefs' of the 
 Schemes of thofe, who direfted the French Bank, did 
 not turn their Brains? 
 
 Whether the bell Inftitutions may not be made fub- 
 fervient to bad Ends ? - 
 
 Whether, as the Aim of Induflry is Power, and the; 
 Aim of a Bank is to circulate and fecure this Power to 
 each Individual, it doth not follow, that abfolute Power; 
 
h National Bank! »i 
 
 in one Hand it inconiiftent with a laiting and flourifh- 
 
 ing Bank? 
 
 Whether the Public Aim ought not to be, that 
 Mens Induftry fhould fupply their prefent Wants, and 
 the Over-p’.us be converted into a Stock of Power ? 
 
 Whether the better this Power is fecured, and the 
 more eafily it is transferred, Induftry be not fo much 
 the more encouraged ? 
 
 Whether Money, more than is expedient for thofe 
 Purpofes, be not upon the Whole Hurtful rather, than 
 Beneficial to a State ? See Qu. 115- Part I. 
 
 ' Whether there ihould not be a conilant Care to 
 keep the Bills at Par? 
 
 Whether therefore Bank-bills Ihould at any Time: 
 be multiplied, but as Trade and Bufinefs were alfo 
 multiplied ? 
 
 Whether all Things confidered, a National Bank ba 
 not the moft prafticable, fure^ and fpeedy Method to 
 mend our Affairs, and caufe Induftry to flourilh a- 
 mong'usr’ See Qu. ii. Sup. & Qu. 20 6, 17. 
 Part I. 
 
 Whether a Compte in Bant or current Bank-Bills 
 would belt anfwer our Occafions ? . 
 
 Whether a Public Cempte en Bane, where Effefts 
 are received, and Accounts kept with particular Per- 
 fons, be not an excellent Expedient for a great City ? 
 See Qu. 47 50. 
 
 What Effefts a general Compte en Banc would have 
 in the Metropolis of this Kingdom, with one in each 
 Province fubordinate thereunto? 
 
 Whether it may not be proper fora great Kingdom, 
 to unite both Expedients, to wit, Bank-Notes and a 
 Compte en Bant t 
 
 Whether, neverthelefs, it would be advifeable to 
 begin with both at once, or rather to proceed firft with 
 the Bills, and afterwards, as Bufinefs multiplied and 
 Money or Effects flowed in, to open the Compte en 
 
 i Whether, for greater Security, double Books of 
 | Compte en Banc fhould not be kept in different Placet 
 i and Hands? Whether 
 
ti QUERIES rttaling ft P 
 
 Whether it would not be right, to build the Comp.; 
 ters and pub'ick Treafuries, where, Books and Bank- 
 Notes are kept, without Wood all.arched and floored : 
 with Brick or Stone, having Chelb alfo and Cabinets 
 of Iron? 
 
 Whether divers Regiflers of the Bank Notes Ihould 
 not be kept in different Hands ? 
 
 Whether there fhould not be great Difcretion in the 
 uttering o f Bank Notes, and whether the attempting 
 to do things jtr Saltum be not often the Way to undo 
 them ? 
 
 Whether the promoting of Induftry . Ihould not be 
 always in View, as the true and (ole End, the Rule 
 and Meafure of a National Bank ? And whether all 
 Deviations from that Objeft Ihould not be carefully 
 avoided ? • 
 
 Whether fuch Bank may not be ufefnl, for Ap¬ 
 plying Manufaftures and Trade with Stock, for regu¬ 
 lating Exchange, for quickening Commerce, for put¬ 
 ting Spirit into the People ? 
 
 If there be’an open fure Way to-Thrive, with¬ 
 out Hazard to pur.felves or Prejudice to opr Neigh¬ 
 bours, what ihould hinder us from putting it in 
 Ptadlice? - . , , _ . 
 
 Whether a View of the Precipice be not fufficient, 
 or whether we mud tumble Head-long before we are ■ 
 roufedi See Qu. 210.-Part I. 
 
 Whether we are fufficiently fenfible, of the peculiar , 
 Security there is in having a Bank, that confilis of 
 Land and Paper, one of which cannot be exported, 
 and the other is in no Danger of being exported ? 
 
 Whether it be not delightful to complain ? And' 
 whether there be not many who had rather utter their . 
 Complaints than redrefs their Evils ? 
 
 Whether when a Motion was made once upon- a 
 Time to eltablilh a private Bank in this Kingdom by 
 public Authority, divers Gemlemsji did not Ihew 
 themfelves forward to embark in that Defign? 
 
 Whether 
 
s 
 
 | » National Bank,’ ij 
 
 5 Whether it may not now be hoped, that ourPa- 
 ittlots will be as forward to examine and confider the 
 ' Propofal of a public Bank, calculated only for tho 
 public Good i . 
 
(XU ER IE S 
 
 Relating to 
 
 4 National Bank. 
 
 Exttafted from the Third Part of the . 
 QUERIST, 
 
 S "W HETHER Money circulating be 
 not the Life of Induftry i and whe¬ 
 ther the want thereof doth not render 
 a State gouty and inaaive ? 
 
 But, whether if we had a national. 
 Bant, and ourprefent Cafh (fmall as it. 
 
 1 y were put into the moil convenient' 
 
 Shape, Men fhould hear any publick Complaints for 
 
 ^Whetlwa^Circulation be not alike a Circulation of 
 Credit, whatfoever Medium (Metal or Paper) is employ- 
 id, and whether Gold be any mote than Credit for fo 
 
 ^Whetherthe Wealth of the richeft Nations in Chrif- 
 tendom doth not confift in Paper, vaftly more than u 
 
 G metter Lord Clarendon doth not aver of hu owi 
 Knowledge, that the Prince of Orange, with the W 
 
o N «ional Bank, 2J 
 
 Credit, and the Afliftance of the rich eft Men in Am- 
 jierdam , was above ten Days 'endeavouring to raife 
 twenty thoufand ^Pounds in Specie, without being able 
 to raife half the Sum in all tha^ Time?- SeeClmft- 
 don’s Hiftvry, B. 12. 
 
 Whether the whole City of Amflerdam tvduld hot 
 have been troubled, to have brought togethei^twenty 
 thoufand Pounds in one Room ? Ibid. 
 
 Whether it be not abfolutely neceflary, that there 
 mull be a Bank, and mull be a Trull? And, if fo, whe¬ 
 ther it be riot the moll fafe and prudent Courfe, to havd 
 a national Bank and trull the Legiflature ? 
 
 Whether Objedlions againll Trull in general avail, 
 when it is allowed there mud bea Trull, and the only 
 Queftion is, where to place this Trull, whether in the 
 Legiflature or in private Hands ? 
 
 Whether it can be' expefled, that private Perfons 
 Ihould have more Regard to the Public, than the Pub- 
 lick it felff 
 
 Whether, if there be Hazards from Mifmanagement, 
 thofe may not be provided againll in the framing of a 
 publick Bank; but whether any Provifion can be made 
 againll the Mifmanagement of private Banks, that are 
 under no Check, Controul, or Infpeflion ? 
 
 Whatever may be fald for the Sake of objedling, 
 <yet, whether it be not falfe in Fadt, that Men would 
 prefer a private Security to a public Security t 
 
 Whether a national Bank ought to be confidered as 1 
 a new Experiment; and whether it be not a Motive- 
 to try this Scheme that it hath been already tried with. 
 Succefs in other Countries ? 
 
 If Power followeth Money, whether this can be 
 any where more properly and fecurely placed, than in 
 the fame Hands wherein the fiipreme Power is already' 
 placed ? 
 
 Whether there be more Danger of Abufe, in a pri¬ 
 vate than in a publick Management? 
 
 Whether the proper ufua! Remedy for Abufes of 
 private Banks, be not to bring them before Parliament 
 and fubjeft them to the Infpedlion of a Committee, 
 D and 
 
i6 Queries relating u 
 
 and' whether it be not more prudent to prevent than 
 to redrefs an Evil? 
 
 Suppofing there had been hitherto no fuch Thing 
 as a Bank,’ and the Quellion were now firft propofed, 
 whether it would be fafer to circulate unlimited Bills' 
 in a private Credit, or Bills to a limited Value on the 
 public Credit of the Community, what would Men 
 think? 
 
 Whether Experience and Example be not the plain- 
 eft Proof; and whether any Inftance can be affigned, 
 where a national Bank hath not been attended with 
 great Advantage to the Public ? 
 
 Whether the Evils apprehended from a national 
 Bank are not much more to be apprehended from pri¬ 
 vate Banks; but whether Men by Cuftom, are not fa¬ 
 miliariz’d and reconciled to common Dangers, which 
 are therefore thought lefs than they really are ? 
 
 Whether it would not be very hard, to fuppofe all. 
 Senfe, Honefty, and publick Spirit, were in the keep¬ 
 ing of only a few private Men, and the Public was 
 not to be traded ? 
 
 Whether it be not ridiculous to fuppofe, a Legilla- 
 ture fhouldbe afraid to truft it felf ? 
 
 But, whether a private Intereft be not generally fup- 
 ported with more Zeal than a public ? ’ 
 
 Whether the Maxim, What is every Body's Bufinefs 
 is no Body's,, prevails in any Country more than.in 
 Irelandi 
 
 Whether, neverthelels, the Community of a Dan¬ 
 ger, whichlulls private Men afleep, ought not to awaken 
 the Public ? 
 
 Whether there be not lefs Security, where there are 
 more Temptations and fewer Check? 
 
 If a Man is to rifque his Fortune, whether it be 
 more prudent to rifque it on,the Credit of private Men,- 
 or in that of the great Aflembly of the Nation ? ‘ 
 
 Where is itmoll reafonable to expeft wife and punc¬ 
 tual dealing, whether in a fecret impenetrable Recefs, 
 where Credit depends on Secrecy, or in’a public Ma¬ 
 nagement regulated and infpcdted by Parliaments. 
 
 Whether 
 
a National Bank:- 2 y 
 
 ; Whether a fupine Security, be not catching; and 
 whether Numbers' running the fame Rifque, as they 
 leiTen the Caution, may not iiicreafe the Danger? 
 
 ■ What real Objeftionlies againlt a National Bank e- 
 refted by the Legiflature, and in the Management of 
 public Deputies, appointed and infpefted by the Legif- 
 lature? 
 
 What have we to fear from fuch a Bank, which may 
 not be as well feared withoutit? 
 
 How, why, by what Means, or for what End, {hould 
 it become an Inftrument of Oppreflion? 
 
 Whether we can poflibly be on a more precarious 
 Foot, than we are already? Whether it be not in the 
 Power of any particular Perfon, at once to difappear, 
 and convey himfelf into foreign Parts? Or whe'her 
 there can be any Security in an Eftate of Land, when 
 the Demands upon it are unknown ? 
 
 Whether the eltablilhingof a National Bank, if we 
 fuppofea Concurrence of the Government, be not very 
 prafticable? 
 
 But, whether though a .Scheme be never fo evident¬ 
 ly prafticable and ufeful to the Public, yet, if conceiv¬ 
 ed to interfere with a private Intereft, it be not forth¬ 
 with in Danger of appearing doubtful/difficult, and 
 imprafticable?, 
 
 Whether the legiflative Body hath not already fuffici- 
 ent Power to hurt, if they may be fuppofed capable of 
 it, and whether a Bank would give them any new Pow¬ 
 er ? 
 
 What ihould tempt the Publick to defraud' itfelf? 
 
 Whether, if the Legiflature deflroy’d the Public, it 
 would nof .be felo tie Je ; and whether it be reafonable 
 to fuppofe.it bent on itsownDeftrudion ? 
 
 Whether the Objeftioh ton public 'National Bank, 
 from Want of Secrecy,, be not in Truth an, Argument 
 for it? .. 
 
 Whether, the Secrecy of private Banks be not the ve¬ 
 ry thing,that renders them fo hazardous? and whe¬ 
 ther, without that, there could have been, of late, fo 
 many Sufferers? 
 
 Whe- 
 
zt QUERIES retiring to 
 
 Whether when all Objeftions are anfvyered, it Hill 
 be incumbent to anfwer Surmifes ? 
 
 Whether it were juft to infinuate, that Gentlemen 
 would be againft any Propofal they could not turn 
 into a Jobb ? 
 
 Suppofe the Legiflature palled their Word for any 
 private Banker, and regularly yifited his Books, would 
 not Money lodged in his Bank be therefore reckoned 
 more fecure? 
 
 In a Country where the Legiilative Body is not fit 
 to be trufted, what Security can there be for trufting 
 any oneelfe? 
 
 If it be not ridiculous to queftion,. whether the 
 Public can find Calh to circulate Bills of a limited Va¬ 
 lue, when private Bankers are fuppoled to find enough 
 to circulate'them to an unlimited Value ? 
 
 Whether the united Stock of a Nation be not the 
 bell Security ? And whether any thing but the Ruin 
 of the State can produce a National Bankrupcy ? 
 
 Whether the total Sum of the public Treafure, 
 Power, and Wifdom, all co-operating, be not moll likely ’ 
 to eftablilh a Bank of Credit, fufficient to anfwer the 
 Ends, relieve the Wants, and fatisfy the Scruples of 
 all People? 
 
 Whether thofe Hazards, that in a greater Degree 
 attend private Bank, can be admitted as Objeftions a- 
 gainft a public one ? 
 
 Whether that which isan Objeflion to every thing 
 bean Objcdtion to any thing? And whether the Pofli- 
 bilityof an Abufe be not of that kind ? 
 
 Whether in Faft all things are not more or lefs abu- 
 fed, and yet notwithftanding fuch Abufe, whether 
 many Things are not upon the whole expedient and 
 hfeful?. 
 
 Whether thofe Things that are fubjeft to the moft 
 general Infpeftion are not the lead fubjeft to Abufe? ’ 
 
 Whether, for private Ends, it may not be fometimes 
 expedient to objeft Novelty to Things that have been 
 often tried. Difficulty to the plained Things/ and Ha¬ 
 zard to the fafeft? 
 
 Whe- 
 
a National Bank. £ g ' 
 
 Whether fome Men will not be apt to argue, at if 
 the Quehion was between Money and Credit, and not 
 (as in Faftit is) which ought to be preferred private 
 Creditor public Credit? See Parti, qtt. 208 and261. 
 
 Whether they will not prudently over-look the 
 vils felt, or to be feared, on one Side? 
 
 Whether, therefore, thofe that would make an im¬ 
 partial Judgment ought not to be on their Guard, keep¬ 
 ing both Profpefts always in View, balancing the In- 
 convcniencies on each Side and conftdering neither ab- 
 folutely ? 
 
 Whether wilful Miltakes, Examples without a Like- 
 nefs, and general Addreffes to the Paffions are r,o: of¬ 
 ten more iuccefsful than Arguments ? 
 
 Suppofe a Power in the Government to hurt the 
 Public by Means of a National Bank, yefwhat fltould 
 give them the Will to do this ? Or fuppoling a Will 
 to do Mifchief, yet how could a National Bank', mo¬ 
 delled and adminillred by Parliament put it in their 
 Power ? 
 
 Whether even a wicked Will intrulled with Power, 
 can be fuppofed to abufe it for. no End ? 
 
 Whether it be not much more probable, that thofe 
 who make fuch Objeftions do not believe them ? 
 
 Whether there ever was in any Part of the World 
 a Country in fuch wretched Circumllances, and which 
 at the fame time, could be fo eafily remedied, and 
 neverthelefs the Remedy not applied ? 
 
 What mull become of a People, that can neither 
 fee the plainell Things, nor do the eafieft ? 
 
 Be the Money lodged in the Bank what it will, yet 
 whether an' Aft to make good Deficiencies would not 
 remove all Scruples ? 
 
 if it be objeft'ed that a National Bank mull lower 
 Interell, and therefore hurt the monied Men, whe¬ 
 ther the fame Objeftion would not hold as ltrong a- 
 gainll multiplying our Goldand'Silver ? 
 
 But whether a Bank that utters Bills, with the foie 
 View of promoting the public Weal, may not lo pro¬ 
 portion 
 
■jo QUERIES nhiiugu 
 portion their Quantity, as to avoid feveral Inconveni- 
 encies which might attend private Banks? 
 
 ■ Whether there beany Difficulty in comprehending 
 that the whole Wealth of the Nation is in Truth the 
 Stock of a National Bank ? And whether any more 
 than the Right Comprehenfion of this, be neceflary to 
 make all Meneafy withregard to its Credit See qu. y r 
 aid yz 
 
 Whether any thing be more reafonable, than that 
 the Publick, which makes the whole Profit of the 
 Bank, fhould engage to make good its Credit ? 
 
 Whether the Prejudices about Gold and Silver are 
 not Itrong, but whether they are not Hill Prejudices ? 
 
 Whether Paper doth not by its Stamp and Signa¬ 
 ture acquire a local Value, and become as precious and 
 fcarce as Gold ? And whether it be not much fitter to 
 circulate large Sums» and therefore preferable to 
 Gold? 
 
 ■ Whether, in order to make Men fee and feel, it be 
 not often neceflary to inculcate the fame thing, and 
 place it in different Lights ? 
 
 -Whether it doth not much import to have a right 
 Concepuon of Money ? And whether its true and 
 juft Idea be not that of a Ticket, entitling to Power 
 and fitted to record and transfer fuch Power ? 
 
 Whether the Managers and Officers of a National 
 Bank ought to be confideredotherwife than as Calhiers 
 and Clerks of private Banks ? Whether they are not in 
 effefl as little trufted, have as little Power, are as much 
 limited by Rules, and as liable to Infpeftion ? 
 
 Whether the miftaking this Point may not create 
 fome prejudice againft a National Bank, as if it de¬ 
 pended on the Credit or Wifdom, or Honefty ot pri¬ 
 vate Men, rather than on the Public, which is really 
 the foie Proprietor and Direfior thereof, and as fuch 
 obliged to fupport it ? 
 
 Whether,-though tne Bank of AmQcrdam doth ve¬ 
 ry rarely, if at all,'pay out Money, yet whether eve¬ 
 ry Man pofiefied of Specie be not ready to convert 
 it intoPaper, and acl as Caihier to the Bank? And 
 whether 
 
H - a National Bank. * 31 ‘ 
 
 whether, from the fame Motive, every monied Matt 
 l i| throughout this Kingdom, would not be a Calhier to 
 ; | our National Bank ? 
 
 >.} Whether Money, though lent out only to the rich, 
 
 ;would not foon circulate among the poor? And whe- 
 ! ther any Man borrows but with an intent to circulate? 
 
 .] Whether Buftnefs in general doth not languilh a- 
 I mong us? Whether our Land is not untilled? Whe- ■ 
 
 ; ther its Inhabitants are notupon the Wing? 
 
 ;■ Whether there can be a worfe Sign than that Peo- 
 '' pie Ihould quit their Country for a Livelihood? Though 
 Men often leave their Country for Health- or-Pleafure, • 
 i or Riches, yet to leave it merely for a Livelyhood ? 
 
 1 Whether this be not exceeding bad, and Iheweth fome 
 v peculiar Mifmanagement ? 
 
 I Whether our Circuniflances do not call aloud for 
 -j fome prefent Remedy ? And whether that Remedy be 
 i not in our own Power? 
 
 j Whether in order to redrefs our Evils, artificial 
 I Helps are not moll wanted, in a Land where Indullry 
 ! is moll again!! the natural Grain of the People ? 
 
 | Whether of all the Helps to- Indullry that 
 4 ever were invented, there be any more fecure, more ' 
 leafy, and moreeffeflual than a National Bank? • 
 t Whether Medicines do not recommend- themlelves ' 
 
 : by Experience, even though their Reafons be obfcure? 
 But whether Reafon and Fa£l are not equally clear, in ' 
 Favour of this political Medicine? • 
 
 Whether, although the PrepolTeffions about Gold" 
 and.Silver have taken deep root, yet the Example of 
 our Colonies in America doth not make it as plain as 
 Day-Light, that they are not fo neceflary to the 
 Wealth of a Nation, as the vulgar of all Ranks ima- ' 
 gine? Sec Part I. qu. 284 and i8y. - 
 | Whether upon the Whole it may not be right to ■ 
 ! appoint a National -Bank? 
 
 ] Whether the Stock and Security of fuch Bank would ' 
 not be, in Truth, the National Stock, Or the total 
 Sum of the Wealth of this Kingdom ?• See qa. 84: ■ 
 
 i Whether 
 
3» £>JJ E R IE S relating to 
 Whether, neverthelefs, there Ihould be a particular 
 Fund for prefent Ufe, in anfwering Bills and circulat¬ 
 ing Credit? 
 
 Whether for this End, any Fund may not fuffiice,' 
 provided an Aft be paffed for making good Deficien¬ 
 cies r , 
 
 . Whether the foie Proprietor of fuch Bank fhould 
 not be the Public, and the foie Direftor the Legifla- 
 ture? 
 
 ■ .Whether the Managers, Officers, and Cafhier?* 
 ihould not be Servants of the Public, afting by Orders 
 and limited by Rules of the Legillature ? 
 
 Whether there fhould not be a Handing Number of 
 Infpeftors, one Third*. Men in great Office, the reft 
 Members of both Houfes, half whereof to go out, and 
 half to come in every Seffion ? 
 
 ^Whether thofe Infpeftoisfhould not, all in a Body, 
 Vlfit twice a Year, and three as often as they pleafed? 
 
 r Whether the general Bank fhould not be in Dublin, 
 and fubordinate Banks or Compters, one in each Pro¬ 
 vince olMunfiir, Ulfter, and ‘Connaught ? 
 
 .Whether there fhould not be fuch Provifions of 
 Stamp:, Signatures, Checks, ftrong Boxes; and all o- 
 ther Meafures for fecuring the Bank Notes and Cafh, 
 as are ufual in other Banks ?■ 
 
 Whether any one concerns himfelf, about theSe. 
 entity or Funds of the Bank of Venice or Amfltrdam ? 
 And whether in a little Time, the Cafe would not be 
 the fame as to our Bank ? 
 
 - Whether* neverthelefs, the firlt Beginnings of Expe¬ 
 dients do not ajways meet with Prejudices, and whe¬ 
 ther even the Prejudices of a People ought not to be 
 refpefted ? 
 
 Whether a National Bank be not the true Philofo- 
 pher’s Stone in.a State? See Part II, qu 23. 
 
 Whether Part of the Profits of the Bank Ihould not 
 be employed, in erefting Manufafturesof feveral Kinds, 
 which are not likely to be fet on Foot and carried on 
 to PerfeftioiJ, without great Stock, publick Encourage -1 
 - . rnent* j 
 
', a National Bank. 33 
 
 mart,, general Regulations, and she Concurrence of 
 many Hands? See qu. 238. 
 
 Whether the Sum of the Faculties put into Aft, or 
 in other Words, the united Aftion of a whole People 
 doth not conftitute the Momentum of a State ? 
 
 Whether fuch Momentum be not the real Stock' or 
 Wealth of a State s and whether its Credit be not pro¬ 
 portional thereunto ? 
 
 Whether the ready Means to put Spirit into this 
 State, to fortify and increafe its Momentum , would not , 
 be a National Bank, and plenty of fmall Cafh ? 
 
 Whether private Endeavours without Aflilfance from 
 tlicTublic, are likely to advance oUr Manufaftures and 
 Commerce to any great Degree? But whether, as Bills 
 tittered from a National Bank, upon private Mortgages, 
 would facilitate the Purchafes and Projefts of private 
 Men, even fo the fame.Bills uttered on the.publickSe- 
 curit y alone, may not anfwer publick Ends, in pro¬ 
 moting new Works and Manufaftures throughout the 
 Kingdom ? 
 
 Whether that which employs and exerts the Force 
 of a Community deferves not to be well conftdered, 
 and well underllood? 
 
 Whether the immediate Mover, the Blood and'Spi- 
 rits, be not Money, Paper or Metal, and 'whether the 
 Stml or Will of-the Community, Which is 'the prime 
 Mover that governs and direfts the Whole, be not the 
 L'cgiflafure? 
 
 ' Whoie Fault is'itif poor Irehnd Rti continues poor ? 
 
 E THE 
 
34 The Plan or Sketch 
 
 THE 
 
 P I. A N 
 
 , 0 R 
 
 S K IT C H 
 
 OF A 
 
 A National Bank¬ 
 s'. A. B. Efq; 
 
 , s IR , 
 
 Y OU tell me. Gentlemen would 
 not be aveife from the Natio¬ 
 nal Bank propofed in the Que- 
 rift, provided they could fee a 
 diftinft Sketch or Plan of fuch 
 Bank drawn up in one View. The Querift' 
 indeed, only puts Queftions, and offers 
 Hints, not prefuming to direct the Wifdom 
 of the Legiflature. But it fhould feem no 
 difficult Matter to convert Queries into Pro- 
 polidons. However, fince you defire a 
 fhort Abftradt of my Thoughts on this'Sub- 
 jed, take them as follows. I 
 
of a National BANK, . 33 
 
 I conceive that in order to ereft a Na¬ 
 tional Bank, it may be expedient to enaft: 
 
 I. That an additional Tax be raifed of 
 ten . Shillings the Hoglhead on Wine-; or, 
 that fuch other Tax be raifed as ihall feem 
 good to the Legiflature, 
 
 II. That the Fund arifing from fucfi 
 Tax; be Stock for a National Bank, the 
 Deficiencies whereof to be made good by 
 Parliament. 
 
 III. That Bank Notes be minted, fa) 
 to the Value of one hundred thoufand 
 
 (a) No Country hath more natural Ad¬ 
 vantages. Our Wants therefore are moftly to 
 he refolded into the Want of Skill and Indifftry 
 in cur People ; the proper Encouragement 
 whereof confifis in ready Payments .' 'theft 
 ■Payments muft he made with Money, and Mo¬ 
 ney is, of two Sorts, Specie or Paper. Of-the 
 former ; we neither have a fufficient Quantity, 
 not yep Means of acquiring it. Of the latter 
 Sort, we may have what we want, as good 
 and. current as any' Gold for f)omefic Ufes . 
 Why Jhrnld we not therefore reach forth our 
 Hand, and take of that Sort of Money which 
 is in our Power ;. and which makes far the 
 greater Part of the Wealth of the no ft fiou- 
 rifhing States in Europe ? This, by promoting 
 hiduflry at home, may advance our Credit a- 
 broad ; and in the'Event, multiply our Gold 
 and Silver. 
 
 C 2 
 
 Pnnn^o 
 
36 The Plan or Sketch 
 Pounds, in round Numbers from one Pound 
 to Twenty, (b) 
 
 IV. That fuch Notes be iffued, either 
 to particular Perfons on Calh, or Security•, 
 or elfe, to the Ufes of the Publick on its 
 own Securities. 
 
 V. That a Hqufe, Treafurer, Calhiers, 
 and other Officers, (c) be appointed in Dub¬ 
 lin, for the uttering and anfwering of Bills; 
 for the judging of Securities; for the re¬ 
 ceiving and keeping of Calh ; and, for the 
 managing of this. Bank as other Blanks are 
 managed. 
 
 VI. That there be twenty-one Vic¬ 
 tors •, one Third of thefe, Perfons in great 
 
 (b) It ferns 'aery evident that, be the Fund 
 what it will ; or in Cafe there was no Fund ' 
 at all •, yet thofe Notes would circulate with, 
 full Credit , if they were fare to pafe in all Pay¬ 
 ments of, the Revenue. That is to fay , the 
 Government itfelf could give more Credit to 
 that Paper, than any other Security now 
 current among us. 
 
 (c) Among thefe it is propofed, that there 
 be two Managers with Salaries : One of 
 whom always to attend •, and that fuch Offi¬ 
 cers be at firft named in the Act, and after¬ 
 ward replaced by the Vifitors. 
 
if a National BANK. 37 
 Office (d) for the Time Being; the reft. 
 Members of either Houfe of Parliament, 
 fame -whereof to go out by Lot, and as ma¬ 
 ny to come in by Ballot once in two Years. 
 
 VII. That fuch Vifitors vifit the Bank 
 in a Body four Times every Year ; (e) and 
 any Three of them as often as they pleafe. 
 
 VIII. That no Bills or Notes be mint¬ 
 ed, but by Order of Parliament, (f) 
 
 (d) No 'juft Jealoufy can be. conceived of 
 the Power- of fuch Vifitors , inafmuch as they 
 are to give no new Directions, but only fee 
 that the Directions of the Legifiature be ob~ 
 ferved. 
 
 (e) It-is objected, that this were tppjnucb 
 trouble to be. expected from Vifitors who. have 
 no Salaries. - But if four Titles be thought lop 
 ■often, twice may do. It is hardly to be fup- 
 pofed, that Gentlemen would begrudge the At¬ 
 tendance of two Days in the fear Gratis, for 
 the Service of their Country ; or if there be 
 fuch Gentlemen , it canny} be fiuppofed that they 
 would be chofen by Ballot. But this may b,e 
 provided againft, by allowing Per/ons, who 
 cannot attend, Leave to decline the Office, and 
 electing others in their Stead. 
 
 (f) Under the Direction of the Parliament, 
 the Publick Weal will preferibe a Limit to the 
 
•38 The Plan or Sketch 
 . IX. That it be Felony to counterfeit 
 the Notes of this Bank. 
 
 X. That as the Publick is at all the 
 Charge, and makes good the Credit of this 
 Bank, fo the Publick be alone Banker, or 
 foie Proprietor of this Bank; the Profits 
 whereof fliall be accounted for in Parlia¬ 
 ment, and applied under the Direction of 
 the Legiflature, to the promoting oi pub¬ 
 lick Works and Manufactures, (g) 
 
 only in Proportion to Iniuftry , and to anfwer to 
 tbs Demands of Indufiry. Paper Credit can 
 never beflo fecure of doing Good to a State , as 
 by making the Demands of Indufiry its Mea- 
 fure , and the increafe of Induftry its End. 
 The fame holds alfo with Regard to Gold and 
 Silver. The 'not confidering this feems to have 
 been the great Overfight. 
 
 (g) Men difpofed to objett, will confound 
 the mofi different Things. We have had, in¬ 
 deed, Schemes of private Ajfocialion formerly 
 propofed,, which fame may Mfiake for Natio¬ 
 nal Banks. But it doth not appear , that any 
 Scheme of this Nature was ever propofed in 
 tbefe Kingdoms : And among the Foreign 
 ' Banks , perhaps there will not be found one efta- 
 blifhed on fo clear a Foot of Credit , contrived 
 for fucb a general and eafy Circulation and 
 fo well fecured from Frauds and Accidents, as 
 that which it is now hoped may , by the Wifdont 
 of our Legiflature, be modelled and erected in 
 •Ireland. For 
 
of a National BANK. 39 
 . For the better adminiftring of this'Na¬ 
 tional Bank to the Content of all Perfons, 
 it will be thought expedient to add divers 
 Regulations about the Number and Choice 
 of Vifitors, and other Officers concerned in 
 fo great a Truft, into fome Share whereof 
 it may not perhaps altogether feem impro¬ 
 per to admit the Deputies of great Corpora¬ 
 tions, For the fame End, thofe feveral 
 Precautions by Signatures, Cyphers, ftrong 
 Boxes under divers Keys, and fuch like 
 Checks, which are ufed in other Banks, 
 would not be omitted in this. 
 
 A Bank wherein there are no Sharers, 
 would be free from all the Evils of Stock- 
 jobbing. A Bank, whereof the Publick 
 makes all the Profit, and therefore makes 
 good all Deficiencies, muft be molt fecure.- 
 Such a Bank prudently managed, would be 
 a Mine of Gold in the Hands of the Publick. 
 The Bills therein minted, would be equiva¬ 
 lent- to fo much Money imported into the 
 Kingdom, The Advantages of fuch a 
 Bank in reftoring Credit, promoting Indu- 
 ftry, anfwering the Wants, as well of the 
 Publick as of private Perfons, putting Spi¬ 
 rit into our People, and enlivening our Com¬ 
 merce, will, I fuppofe, be evident to who¬ 
 ever fhall confider the Queries of late pro- 
 pofed to the Publick. 
 
 Reasons for a National Bank, and an- 
 fwers to Objections are particularly infifted 
 on 
 
4o' 7V Plan or Sketch, C3*c. 
 oh in the Querift, wherein are contained 
 alfo feveral other Matters relating to fuch 
 Bank which in Time may be further im¬ 
 proved, altered, and enlarged, as the Cir- 
 cumftances of the Publick fliall require. 
 
 Every one fees that a National Bank 
 admits of many Variations, and minute 
 Particulars, divers of which are hinted by 
 the Querift, but the Publick will chufe 
 what lhall be judged moft convenient. 
 
 It fliould feem the Difficulty doth nOt 
 confift fo much in the contriving or execut¬ 
 ing of a National Bank, as in bringing 
 Men to a right Senfe of the Publick Weal, 
 and of the Tendancy of fuch Bank to pro¬ 
 mote the fame. 
 
 To explain thefePoints, and to urge them 
 home, both from Reafon and Example, 
 hath been the Aim of the Querift, particu¬ 
 larly of the third Part juft now Publifhed, 
 which, with 'the two foregoing, contains 
 many Hints defigned to put Men upon 
 thinking’what is to be done in this Critical 
 State of bur Affairs •, which perhaps, may 
 be eafily retrieved and placed on a better 
 Foot than fever, if thofe among us, who are 
 moft conc&fted, ; be not wanting to them- 
 
 felvcs. ^ ^ ;;r h um li e Servant, 
 
 Vx QUERIST.