V*) - LIBRARY OF THE UNIVERSITY OF ILLINOIS AT URBANA-CHAMPAIGN CENTRAL CIRCULATION AND BOOKSTACKS The person borrowing this material is responsible for its renewal or return before the Latest Date stamped below. You may be charged a minimum fee of $75.00 for each non-returned or lost item. Theft, mutilation, or defacement of library materials can be causes for student disciplinary action. All materials owned by the University of Illinois Library are the property of the State of Illinois and are protected by Article 1 6B of Illinois Criminal Law and Procedure. TO RENEW, CALL (217) 333-8400. University of Illinois Library at Urbana-Champaign ''JUN When renewing by phone, write new due date below previous due date. LI 62 PAPER-CREDIT CONSIDERED: Particularly Relative To the late Failures of Bankers and Receivers in Ireland^ w I T H A SCHEME For fupplying the broken Banks with CASH, and the Relief of their Suf- ferers. DUBLIN Printed ; L O N D O N Reprinted, For J o N H Child, near Qheapfide* MDCCLX. [51 PAPER-CREDIT CONSIDERED. DOCTOR Brown is of opinion. That it is difficult to bring man- kind back to thought in this frivolous age. He may guefs pretty right as to the higher clafs of men : but he muft allow, that vir- tue delights to dwell between extremes; and, therefore, good fenfe is to be found in the middle clafs of men. The objefts, now in publick view, feem fufficient to ftimulate attention, and draw -on ferious thoughts. The ends and pur- pofes of our being, that foundation of mo- rality, may have been laughed atj and we muft modeftly put men in mind, that there B are [ 6] are duties required of them by fociety j left the appearance of fuch indelicate forms, as labour, induftry, and application, {hould fright them from their joys, and make them again put on mourning, for a tedious length of time, for their departed friend, T^he current Cajl: of Ireland, Upon every fudden calamity, aftonifli- ment pofleffes the multitude for a while ; during which period, men often aft incon- fiftently, as out of their wits ; but when furprife abates, men return to cool reafon, and fee the propriety or impropriety of their anions, and give their underftandings fair play. A good underftanding confifts in an adivity of mind, which invefligates many objeds by one dart of its powers : it weans the heart from its defires, and the foul from its doubts. In * the midft of hurry and tumult it makes us return into ourfelves, and leads from the love of the creature to fovereign truth, which Is the Creator. The [7] The invafion of thefe kingdoms by our inveterate enemies the French, is the firft objedl that prefents itfelf. Far from de- preffing, it only animates every loyal heart. The houfes of parliament immediately con- cur in fupporting government, in every reafonable expence, that the exigence of ftate may require ; and publick credit is fo high, that wq are told hundreds of thou- fands pounds were ready to be fubfcrib- ed in an hour ! So much for publick credit. Next comes a terrible objeft indeed, at- tended with a difmal train of depreffing con- fequences ; univerfal diftruft and difmay ! the publick difcovers her worft enemies, treachery and fraud, fixed in her very bo- fom, preying upon her vitals, and daring to look her in the face, after exhaufting half her blood : rapacious money-jobbers ! the leeches, the pert of fociety ! B 2 Readinefs [8] Readinefs to relieve diftrefs is one of the nobleft: ads bf humanity ; and to that we muft attribute the expedient for an aflbcia- tlon to fupport public credit, or rather pa- per-currency, at this time of invafion. This aflbciation is fubfcribed to by our moft ex- cellent governour, the heads of the church, the flower of our nobility, and the moft important members of the commons. Be« fides, the right honourable lord mayor, al- dermen, and fome citizens, have taken upon them to reprefent the public j and have refolved, " That the offers, or pro- *' pofals, made by the bankrupt bankers, " are fair, honourable, and fatisfadory to *' the public." By Mr. M Ys propofal, counfellor W — fe is appointed truftee for his creditors, and fecurities and lands veiled in him to the value of 147,0001. for the payment of 7^1,000 1, due to his creditors, with legal intereft t9] intereft for his j^otes, and 5I. percent, for all other demands. The efFeft of Mr. M rs induftry appears to be 76,000!. which is eafily accounted for from civil lift remittances, &c. and his connection with treafury bankers. The bank of meffieurs the right honou- rable A y M — 1 — e, the right honoura- ble N— th— 1 CI ts, and J— n G— e, efqs J king's council and council to the com- miflioners of his majefty's revenue, propole to give their creditors other paper, bearing an intereft of 5I. per cent, payable in two years, by half yearly payments. The firft payment in fix months. Which may be attended with a little inconvenience to the creditors, as the parliament will rife before that time, and confequently their redrefs may be poftponed for eighteen months longer. Befides, thefe bankers have not fa- voured the public with an account of the fums they have conjured from the people. Report makes them 281,000!. which is more tio] ftiore than one half of the current cafli of the kingdom ; to which you muft add the deficiency of their cafhier, on his own ac- count, 71,000 L For the connedlion between them may be a very effential point in law, for their creditors to remember. They have not told the public what the nature of their effefts is ; or how far notes or receipts may afFeft real eftates ; or what unfettled eftates they are poffeffed off-, or how they have fJifpofed of the large coUedlion they have made to the advantage of public credit, and the improvement of the trade of ftock- jobbing. All which, I fuppofe, is referv- ed for a parliamentary enquiry, as the fpeedieft and moft effedual method of re- ftoring public credit. 1 am fo unfortunate as to differ in opi* nion with my lord mayor, as to thefe pro- pofals being either fair, honourable, or fatisfacftory ; and mufl confefs, I am at as great a lofs to underftand, how fupporting afet a fet of bankrupts can be any advantage to public credit. So far as this palliative may be proved ufeful to the public, fo far it may be deemed commendable: but if it fhould be made a fcreen to proteft cri- minals from public juftice, and deprive the injured creditor of the fatisfadion and remedy the laws of his country give him ; or even to carry on the delufion 'till the end of the feffion of parliament, and prevent an enquiry into the condud: of thefe money- jobbers : in aH thefe cafes, it muft be ef- teemed, by every impartial reafoner, th© higheft infult and aggravation of our diftrefs. To fet this in a clear light there are to be confidered, ift, What the laws of the coun- try are with relation to men who exercife the craft or trade of bankers, under which the mercantile laws of bills of exchange are to be remembered, and -what fandion is given to them by the legiflature. By our lawbooks, '^ The reafon and.cuflom of bills ?! of exchange is for the expedition of trade " and [ 12] " and it's fafety 3 and to hinder the ex- " portation of coin out of the kingdom/' 6 Mod. 29. By the aft of 8di Geo. I. c. 14. " Any *' banker iiSuing out promiflary notes, pay- " able on demand, or at a certain day, and " fhall not pay fuch notes ; he, his heirs, " &c. are liable to legal intereft for the fame ; *^ the plaintives may have their aftion and *V judgment. Bankers concealing themfelves ** are liable to adtions. Conveyance of their " eftates after abfconding void, as to their " creditors/* N. B. Quere, whether a per- fon, in privilege, can be faid to abfcond ; and if he makes conveyances and enrolls them during privilege, it may give rife to a point of law. The laws of the exchequer, treafury, and revenue mufl: be conlidered, to fee how far the fervants of the crown, concerned irk the care of its treafure, are prohibited from traf- fic. Merchants are excluded from being bankers [ 13 ] bankers by a late ad: : whether the reafon for it is plaufible or folid is a queftion. 2dly, We confider what the rules of bankers are in the light of fair traders. Thofe men, that mind their bufinefs and make a confcientious ufe of the truft repofed in them, know that money, depofited in their hands, is like their foul, to be rendered up upon demand : they are therefore pundual in difcharge of that truft, and contented with a moderate, but honeft profit. ' But when paper-credit gets into the hands of men of power, who think themfelves as much above honefty, as they are above the mechanic part, this paper-credit becomes a moft dan^ gerous inftrument of deftruftion to the whole community. All monopolies are dangerous to trade ; but a money monopoly will fap the foundation of the beft formed conftitu- tion that ever was eftabliflied. A multiplicity of loans, or too great a cir- culation of paper-credit, Is dangerous to every C ftate. ftate, when thefe loans have not commerce for their objedl. Luxury commences the ruin of families; the refource of borrowing foon finifhes them, and draws after it the ruin of the ftate by making men venal. Poftlethwait aflcrts, that there is not one fourth of the landed property of England in the fame families that pofTefTed it at the Re- volution ; which change he attributes entirely to paper-credit, which commenced about th:t period of time. Had thefe bankrupts continued five years, he might have made the fame comfortable remark here : there- fore every man, that wiflies to continue his eflate in his family, will look with a careful eye to the tranfadlions of fuch bankers. The year after the breaking of the three banks, all dealers admitted, there never was more fpecie in Ireland; which fliews, that w^ may have money, if we pleafe. While there is fuch a praemium given in England, as has been given during this war, an4 [ 15] and flocks continue low, money changers will venture their necks, by facrificing the public to their private profit. Sir Ifaac New- ton, who was mafter of the mint in England, remarks, that, upon a fmall miftake in valuing the French Piftoles, the Jews, in fix weeks time, threw in upon England 400,0001. A much worfe fraud was com- mitted in Ireland. Quadruple piftoles had a currency by proclamation at 3I. 13 s. a pro- digious number were imported of an impu- rer gold, which, upon examination, were defedllve about i s. 6d. each ; the council rectified their miftake, but 50,000 1. worth had paflTed into the hands of the pulic 3, but who circulated them was never enquired about by any of our ftate Argus's : whether any of them were bankers at that time, I know not ; but fure I am, that this repeated plunder of the people calls aloud for juflice* 3d]y, We muft examine what detriment the public may receive from this lofs of its circulating ca(h, according to the Roman C 2 law. [ '6 ] law, Nequld detrimenti refpublica capiat, from the conlpiracies, aflbciations or proceed- ings of individuals. To return to the point of thefe fair, ho- nourable and fatisfadlory propofals, I fhall beg leave to afk this queftion 5 * If the laws ' of my country give me a better remedy Vagainft a perfon that injures me, than he ' condefcends to offer me, would any man *-in his fenfes, except a lord mayor, fay, ' that it was fair or fatisfad:ory ?' Now be- hold the ftatute of Geo. I. fays, * A banker * (hall pay legal interefl: for his notes.' But a banker receives my cafh upon a greater con- fidence, and I only take his accountable re- ceipts: he fliuts up, and tells me he will give me five per cent. I take " all other " demands," in Mr. M s propofal, to include accountable receipts. I am fure the right honourabe receivers make ufe of the fame quibble, to evade the law of legal interefl. Is this fair, honourable, and fatis- faftory ? does not this create a diffidence of lawyers ? 1 17 ] lawyers? who are bankers to receive but only receivers, when called upon to pay ! Let us remember the law proceedings, the law truftees, and the law agents, for the creditors of Burton's bank. It has been near thirty years in the courts ; and, a very few years ago, they contrived to get an act of parlia- ment, to oblige the creditors to compound for any fum that fhould be agreed to by two thirds of the creditors, notwithftandin^- they owned there was a fund fufficient to pay each perfon their principal and intereft. But hold, fay thefe money-jobbers, we great men are not to be treated like mechanics ; we know better than to put ourfevles in the power of the law. Two of us, by profeffion, are matters of evafion. We are not bankers ; wc only condefcend to receive our friends money, and give accountable receipts. Let us fee how your banker's A61 can take hold of us, or our eftates. But we would rather not talk of thefe affairs in parliament time; becaufe they have an old fafhioned method of trying people on what the law calls a malum in fe. It [ i8 ] It may be neceffary to' know, how thefe honourable receivers (the old proverb fays * The receiver is as bad as the thief/) are come-at-able? where are their eftates and fecurities vcfted ? what would be the con- fequence of the death (I mean, in a natural way) of any of the partners, in leffening the value of their fecurities to their creditors ? and is not the immediate feizing on the real and perfonal eftates of the delinquents likely to give more feourity than their promife ? be- fides, perfons, whofe fouls are pofleffed with avarice, might think, with the mifer in the comedy, " What a world of money might « be faved, had I hanged myfelf yefterday !" The public has fwallowed fo many pills^ for thefe laft feven years, from thefe worthy friends, that men imagine any crudity wil] go down, fince the Draper is dead, and they had power to banifli Lucas. Alas! poor Ireland 1 what a ncife and buftle your farly dean made about a few bad half-pence ! what a foaming your medal-patriots made about [ 19] about the purfe of the nation \ yet no one had eyes to fee the thief in the candle. Who fcreened the filers of guineas ? who intro- duced bad quadruples ? who managed Dil- lon's bank, fo as to leave the creditor not above 2 s. 6 d. in the pound ? the fame of Lenox's. The quakers had no connedion with power; fo their creditors won't lofe much by them. Can any one compute how much this poor country has fuffered from all this rapine and villany ? While the great are vying with each other in every adt of luxury, they little con- fider the diftrefs of ruined tradefmen, help- lefs widows and orphans; the broken farmer; the mifery and diftrefs attending on every ftoppage of the current ca(h, which is the blood of fociety; the merchant, and every kind of dealer, whofe little capital is detained from them. What is 5 1. percent, to a manufadlurer, who ought to make 50 1. The fupport of him and his family is but a drop of water in their ocean of riches; yet the [20] the want of it is mifery and ruin, the poor man's lot. And certainly whatever deftroys trade, mtift foon leffen the value of lands. To what are we indebted for all this con- fufion ? To the pride, avarice, and ambition of a few, to whofe heated imagination no- thing could appear too high or loo low; even the very government of the kingdom they thought to poflefs with the fame eafe Mr. Bays brings about his revolution in the Re- hearfal, i;/2;. " Brother, I'll feizc this, while " you feize t'other chair." The fons of Mammon are reckoned wifer, in their generation, than the children of light. When a pyramid is to be raifed, a knowing man forms the bafe equal to the intended height. The rights and properties of other men were but a fmall obflrudlion, eafily fwallowed up in a fcheme to mono- polize the whole cafh of a kingdom. To vulgar dull heads their fcheme feemed ra- ther hypothetical than practical : yet, when wc confider that the public revenues amounts to [21 ] to near 700,000!. a year, how eafy Is It for officers civil or military, or belonging to courts^ of chancery or law (for depofits of money muflbe made, and mailers in chancery are not fuch fools, as to keep it locked up) to call on their friends and take bills for their money ? Then your borrowers of money, 'a grazier^ a lord, or a gentleman, want a thoufand pounds ; they are always fo polite to take bills y fo circulation enfues ; at laft 352,000 L' flicks behind. Befides, whatever rents the borrower has are paid into the bank, to the great damage of country agents Moreover, young heirs are carefled ; " Sir, you may " have what money you pleafe.' The ufurers fare the genteelefl fellows and befl friends in the world. 'Till Nicodemus has got fo deep in the mire, he cannot get out. A fpider is a generous infeft to fuch fly-catchers. But the fecret of the deficiency depends upon a view of their books; if fome Mr, Knight has not whipped them away. There' D a [ 22 ] a committee will fee what capital thefe ad- ventures fet out upon ; how much cafh each depofitcd ', what the nature of the eftate was they veiled, and in whom: for it is almoft ridiculous to mention what they gave out themfelves, vi^;, that each of the three was 30,0001. in debt for puichafes, and encum- brances on their eflates. The more a man's affairs are perplexed, efpecially when in the cuftody of men of the law, the worfe his fe- curity. This feems to be laughing at the genius of Ireland, as if nothing but a bull v/ould go down : or elfe, the old adage takes place, " Quos deus vult perdere, prius " dementat." Their whole proceeding de- monftrates an infolent contempt of all their fdlow fubjecSs, and introduces a fufpicion of a fupport fomewhere; but where, I Ihall not name, while a R 1 prefides in Ire- land ; for the old cant of Jacobite, papift, and difaffeded will never deceive him, though it did poor lord H n, while he fees men are enquiring after a truth, that will reftore vigour and ability to a loyal and I H ] and abufed people. In England, the cheat- ing the people by paper bubbles is no laugh- ing matter, as Mr. A -y, chancellor of the exchequer, experienced in the fouth- fea direction. lie was deted:ed, and ob- liged to retire for life 3 though he had ciaft enough to preferve a minifterial fortune. Mr. W e, afterwards S — r R 1, was expelled for touching a little about a forlge contra(9'. The Charitable Corporation alfc, eredted to fupport public credit, and ferve the poor, proved a fet of villains ; they could not prevail on the miniftry, or mayor of London, to certify their deeds were fair, honourable and fatisfadlory. Such members as were of the houfe of commons were expelled, their eftates feized, and they thrown into goal. Recoiled: thefe learned gentlemen's own arguments againft A r N 1 J s, efq; and it will convince you of the indecency of their fitting any longer in a houfe of parliament. If they are bankers, let them, for honefty's fake, (hew their faces behind their counters to D 2 their their creditors, out of privilege. Had the prime minifter of England, the treafurer, and his majefty's council, learned in the laws, en- tered intofuch a combination to draw to thcm- felves, out of the pockets of a deluded peo- ple, half the fpecie in the kingdom, what power could have faved them ? No body can throw fuch a refledtion on the capacities of thefe eminent men, as not to acknowledge, they muft have adted againft full convidion of the injury they were doing their country. Human frailties feem to require compaflion from one man to another, as the animal paffions are apt to prevail over the powers of the mind : but fraud, treachery, and vindictive fpite and deceit, are acSs of the mind, and im- ply malice and fore thought 3 therefore not cxculpable. But, fay the advocates for paper-credit, ^ What have thefe gentlemen done ? have * they adkd againft any aft of parliament, ^ which [25 ] V which excludes judges, king s counclT, or * privy counfellors from being bankers ?" They have ad:ed wilfully and fraudently againft the firft of all laws, the good of the public. There is a law of Hen. VIII. which makes the deftroying the munitions of war treafon. I don't think it exprefly fays, that blowing up a magazine of powder, when the enemy is at the gates, is treafon ; yet if any one pleafe to try the experiment, I fancy he will fuffer the pains and penalties of treafon. It is faid in hiftory, that the famous Spanifli Armada was flopt for three weeks by an Englifli merchant's draughts ^ upon Genoa. Vy^e are at this inftanf threatened with a like invafion : but our good patriots, ftatefman, fair, honourable ' and fatisfaftory receivers and bankers, have flopped pay men t for feven eighths of the fpecie of the kingdom, computing it at 400,000 1. Our good and faithful friends, their High Mightineffcs the States General, have not affifted his Gallic majefty fo effedually, as the tranfporters of cafli out of this klng^ [ 26 T kingdom 5 which muft be all laid upon the poor Papifhes, as ;^they are called, ('tis pof- iible fome Papift may have a hand in it 3) but of all the bold ftrokes, the advertifing that the ftoppage of payment is owing to the want of fpecle, is the mod daring! In the name of truth, who exported it ? and where can the impreffion lie fo ftrong, as againft the people that have received it, and made the moft remittances, and had the gieateft profits for fo doing. Was not all the money they received paid into Mr. M I's bank ? It makes them rich, but the people poor indeed ! The gentlemen of' the law will not deny, that there are ways ' of being guilty of treafons at Common Law, and thofe treafons not fpecified in our books of flatutes. Suppofe perfons intrufted with the wealth, fecurity, or happinefs of a kingdom; yet knowingly pervert that truft to the ruin of that people, who pay them immcnfe falaries to proted and defend them 'y is not this treafon ? Again? [ ^7 I Again, their advocates fay, how unrea- fonable is all this? have not thefe honeft gentlemen been at the trouble to get opi- nions, from eminent lawyers, to fatisfy you their eftates are alienable? True; but, fellow-citizen, caveto. Have you feen the cafe they ftated ? will thefe eminent law- yers fay their eftates were alienable for their receipts ? or do they mean, that fuch eftates, as are in their power, free from enrolments> fettlements, entails or judgments, will be liable to their notes, when they commence bankers under the ftatute of the 8th of Geo. !• which they mean to do, by giving paper notes for their receipts ? I believe thefe great lawyers will allow, that if a man breaks my defk, and takes my cafti, the law will hang him, though he offers his note for the money. And in the law of reafon, the man that breaks his faith, has broke the mafter lock of fociety. Let us remem- ber that the fum due is 350,0001, Have thefe gentlemen, in a year and a few months, amaffed 20^000!. a year in lands aiid t2g] and fecuritles? for if they have not, al- lowing the law the moft moderate pro- portion it ever got, (confidering them ais Amicus's) yet, at leaft, one fourth of the capital mud reft in the courts of law, con- fidering the number of law-fuits neceffary to recover fo much money, the bills to be filed, &c. &c. Why, it is work for half a century at leaft ! and would the law hurt fuch noble benefadtors ? My friends, though I live at Derry, yet, if the plague was in the centre of thg kingdom, I fhould not think myfelf fafe: befides, I have fome feeling for my fellow creatures and neigh- bours. We have got into Polyphemus's cave, where the cunningeft Ulyffesof us all can only expedt the favour of being the laft fwallowed up. Yet, my lord mayor pro- claims them HONOURABLE Men ! Jugurtha would reply, " Venalis civitas et mox " peritura, fi emptorem inveneris." The aflbciation of fo many refpedtable per- fons muft have great influence : but to per- fons, who deal more in demonftration than implicit [29] implicit faith, they cannot readily compre- hend how an indifcriminate taking of bank^ ers and bankrupts notes, in all manner of payments, (which, by the by, will make: them equitable tenders to thofe that have aflbciated, and which the law was wife enough to guard them againft) can be either prudent, or fafe, or advantageous to the public ; as it is forcing a credit. Would not an Engli(h or Dutch goldfmith, regular men of bufmefs, and in full credit, think themfelves highly injured by being put on a footing with bankrupts? But in thofe countries, the whole fpecie of the kingdom doth not pafs through the treafury every eight months. They ftand upon their own bottom, and are not apprehenfive of being cruflied by undue influence : therefore wili not fubmit to fuch indignities. The aflb- elation alfo mentions the caufe of their Shutting up owing to the fcarcity of coin ; and who, in the name of wonder, made that fcarcity ? Thefe Receivers tell you, with great fangfroidy we only picked your E pocket^,. [30] pockets, our caQiier M 1 negociated : there is fuggeftion and connexion for you, and thereby they mean to eflablifh credit, like the eighty-fix weavers votes in the Dublin eledion. Upon the whole, the kingdom is drained of the finews of war, and the trade of the current coin*; and Ire- land has but one trial more to make, *viz. Whether fhe fhall be redreffed for the in- juries Ihe has received, or private corrup- tion is mighty enough to weigh her down in the fcale of juftice* But let us not be deprefled under our calaniity. The go.od- jiefs of providence often fmiles out in mercy, when . we think ourfelves mofl unhappy. This apparent evil ma,y prove our delive- rance from wicked men, and reftore moral honefty and confidence amongft mankind, by fupporting the jull and fair dealer, and punifhing the harpies of lawlefs power, fraud and corruption in every fhape. The confternatlon attending a general calamity is apt to caft a panic upon every indi- I 3' ] individual: each man, with reafon, thinks himfelf unequal to cope with the combined powers of riches, craft, and faftion ; for Saturn has his Satellities, and undue in- fluence. But let them remember, that a good heart will always find means to ferve his country. Look but to England, and fee the glorious deeds of one honeft man. He has drove the wicked from before the throne, and our gracious fovereign ihines forth in all his native luftre to blefs a grate- ful people ', while his faithful minifter has almoft miraculoully reftored vigour and prowefs to a drooping, debilitated country; and fhewed the world that virtue alone is fit to triumph, is fit lo govern mankind. Will he, who faved his mother country, facrifice her fubjed:s in this, or give it up a prey to cormorants, the fycophants of power ? It cannot be , nay, nor it muft not be, without we can fuppofe, " Her children will ftand by and fee *' Their mother flain ; or ravifli'd be." E 2 Can [32 ] Can any freeman forget that fpiritcd law of Athens, that deems every neutral man ^n enemy to his country, who did not take fome part in her diftraftions. An open enemy is lefs to be feared than a timid luke- warm friend. The Roman fpirit honours her conful, for not defpairing in her utmoft calamity. No, rny countrymen, though you have been duped, deceived, and abufed by fubtle, feliiih, defigning, ambitious men> who ufed your honefl: fpirit of liberty bat as ^ foQtftep to raifc them to grapple with the throne: their infult to majefty, and treachery to you, was one and the fame aft; yet, to pleafe you, they were rewarded with every mark of honour and diftindlion ; and now they defpife, laugh at, and cheat you. I know that there are fome gloomy minds, that think, ^s Salluft writes of the Roman jiobility of his !time, and even include the reverend prelates, " Inertiffimi nobiles, in ^^ quibus, ficut in ftatua, praster nomen ^' nihil eft addita menti." Others fhake their heads and cry out of — debut 58 have figned, I 33 1 figned, and, of thofe, not above a baker's dozen but are placed or promifed. How can we hope men will attend, when every thing is myfterioufly managed by a junto. What*s the meaning of thefe new powers of calling, if they don't mean to pr — r — g—- e fuddenly ? Away with fufpicion ; you have an honourable and honeft fet of truftees ; they will call every man to his place. Can you think thofe dauntlefs patriots, who bid power defiance, and talked of Tiberius, tyranny, and faddling Ball, and bears, and what not; and would do no bufinefs, till they aflerted the rights of parliament to lay ' their refolution relating to penfions before ^e throne ; who relieved the foldiers from fmall dues, by fettling 4,000 1. a year upon the fervants of offices out of the c — v — ^! lift. Will they let thefe things pafs to your ruin ? No, they clearly fee that vacant em- ployments muft be filled up -, that the higheft recommendation, in thefe halcyon days, are abilities capable of preferving your con- ftitution and liberties 3 and every fucking iav^er t34] lawyer knows, that ch— 1— r Weft got his^ preferment, by the figure he made, at the tryal of ^he bifliop of Rochefter. But above all, a remnant is left of men who never fwervedfrom their duty to the pub- lic -y and, by the power of his g — ce, the def- cendant of the glorious lord R ], who brought in the exclufion-bill, becaufe the heir to the crown had imbibed principles inconfiftent with the rights and liberties of freemen, now fits a reprefentative for the people of Ireland. Every county, every voice will call upon their reprcfentatives for^ juftice : a R 1 fhall move the enquiry, and obtain fatisfacSion for the injured pub- lic 5 or, by impeaching the criminals, re- vive part of your dormant conftitution. This willreftore faith and confidence among mankind. Induftry will fiourifh, when the labouring man is fecured againft that fraud, which fwallows at once the fruits of his patience and care. Men will be wife enough to live agreeable to their circum- ftances. Reafon will fupplant luxury. Ire- land [35] land win renew it's ftrength, like the eagle. Every man will be fecure from ufurers un- der his own vine. Our power will be equal to our loyalty, and public credit appear in her natural (hape, and confound that phan- tom paper ufury, that now affumes Jber form. / am your faithful Servant ^ [37] SCHEME For fupplying the broken Banks with Cash: or, A little honourable Satisfaction for Agents. To Agents, whether belonging to the Clergy or Laity, Gentlemen Agents^ WHEREAS it is the will and plea- fure of your lords and majfters, that their agents do take, without diflinftion, all bankers notes, in all manner of payments ; now you, being ever mindful of your duty, with a fmall eye to your own profit, are ad- vifed to hurry and diftrain the tenants, as foon as poffible, for the remnants of cafli remaining in the kingdom ; and you may well increafe that tax of forbearance/ in F this t38 ] this emergency, by the money fo coUcfted out of twenty-four bifliopricks 68,000 1. out of lay-lords eftates 60,000 I. out of af- fociating commoners 70,000 1. in the whole, 198,0001. befides fines, charities, &c. 2t2,oool. more, being the half-year's rents. Now it is but putting a good face, and ex- preffing great concern by your friends the bankers, that, in their diftrefs, you have brought a litrie of your own money. They will open a back door to receive your cafh, and have fenfe enough to tip i o 1. per cent, in exchange for their notes, which you arc immediately to tender to your lords and tnafterss and fo you do your duty. J N T w. PUB- [39] PUBLIC SPIRIT: O R, A Scheme for the Relief of unhappy Sufferers by the Failure of the Banks. WH E RE A S it feems rather matter of faith and hope than cert linty, that the creditors of the broken banks will ever be paid their money, and depends much on the myftery of the law ; and whereas the neceffities of feveral creditors will oblige them to fell at any difcount ufurers pleafe to exadt, after the rifing of parliament : It is humbly propofed, to fhew the diflindion between paper-credit and public credit, that 35,000 1. be raifed by vote of credit, and paid for the relief of the diftrcfied credi- tors of faid broken receivers and bankers, and their notes or accomptable receipts taken in [4p] la payment of the fubfcription for fald loan. That the eftates, effeds (not forgetting the gold medals) of perfons concerned in fald banks, be feized into the hands of the pub- lic, to be converted into cafh, with all con- venient fpeed ; and upon receipt of every ten thoufand pounds, notice to be given that fuch a number of debentures are to be difcharged by lot ; and all infura^nce taken to indemnify perfons fo drawn, made fe- lony. A fchedule of effeds to be publicly printed. FINIS.